At a press conference yesterday, Union Law and Justice Minister Ravi Shankar Prasad said that Khan, who was former Minority Affairs Minister, wrote a letter to then I&B Minister Manish Tewari in February 2013 in which he termed Naik as a "renowned Islamic scholar" and sought the government's protection for him from campaigns run by a regional channel and a Hindu group.
AP reported that South Korea's finance minister Yoo Il-ho expected that the cargo crisis could begin to ease this week as the company takes steps to protect its assets. Hanjin Group will provide 100 billion won ($90 million), including 40 billion won from Chairman Cho Yang Ho, to help contain disruptions in the supply chain.
South Korea's Financial Services Commission said that Hyundai Merchant may consider taking over some of Hanjin Shipping's assets, including vessels, network and staff. If Pier T is sold, or Hanjin Shipping enters court receivership, it isn't clear whether the company would continue calling there at current levels.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% as traders looked to August US nonfarm payrolls due on Friday after a run of strong economic data and hawkish comments from Fed officials. Housing credit rose 0.5%, unchanged from June. The euro inched up 0.1% to $1.1158, down 0.1% for August. A weaker yen boosted Japan's exporters, sending the Nikkei stock index 2.3 percent higher at the close.
Gonzales assured the release of those containers in MICT would not be affected by Hanjin's troubles. Hanjin has been losing money for years. Hanjin accounts for 7.8 percent of trans-Pacific trade volume for the USA market. The South Korean giant filed for bankruptcy protection on Wednesday, Aug. 31, and stopped accepting new cargo. "Retailers' main concern is that there is millions of dollars worth of merchandise that needs to be on store shelves that could be impacted by this", Gold said.
More broadly, jobless claims touched a four-decade low in April and have hovered modestly above the level for most of the spring and summer. This represents a decrease of 4,000 from the prior week's 263,000 reading. The four-week moving average for claims now sits at 261,250, down from last weeks' 263,000. With the labor market near full employment and the economy's recovery from the 2007-09 recession showing signs of aging, the slowdown in job growth is normal.