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India, South Korea sign six pacts to enhance cooperation in key areas

INDIA and South Korea have signed six agreements today (22) to enhance cooperation in key areas, including infrastructure development, media, start-ups, combating trans-border, and international crime during Indian prime minister Narendra Modi's visit to the country.   

Modi is on a two-day visit to South Korea to strengthen India's strategic ties with South Korea.


A pact was signed between Korean National Police Agency and the India’s ministry of home affairs to enhance cooperation between the law enforcement agencies of the two countries and combat trans-border and international crimes.     

Another agreement was signed for releasing a joint stamp, commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary princess of India’s Ayodhya, who went to Korea in AD 48 and married King Kim-Suro. 

A large number of Koreans trace their ancestry to the princess.         

The two sides also signed an agreement to continue operations of the Korea Plus organisation that facilitates investments by Korean companies in India. 

(PTI)

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The FTSE 100 retailer reported statutory pre-tax profit of £364.6 million for the year ended March, down 28.8 per cent from £511.8 million a year earlier

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M&S profits tumble after £131 million hit from cyberattack and systems crisis

  • Marks & Spencer’s annual pre-tax profit dropped 28.8 per cent after last year’s cyberattack disrupted online orders and store operations.
  • The incident cost the retailer more than £131 million in recovery, advisory and risk management expenses.
  • M&S said profit growth is expected to resume in the current financial year despite inflationary pressures and Middle East delivery disruption.

British retailer Marks & Spencer saw annual profits fall sharply after a cyberattack last year forced it to suspend online clothing orders for weeks and disrupted food supplies across stores, adding another layer of pressure at a time when retailers are already grappling with rising operating costs.

The FTSE 100 retailer reported statutory pre-tax profit of £364.6 million for the year ended March, down 28.8 per cent from £511.8 million a year earlier. The company said the cyber incident alone resulted in £131.3 million in costs linked to system recovery, specialist advisory services and risk management.

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