Korean Air headquarters raided in probe into ‘nut rage’ sister

Cho Hyun-min, a senior vice president at Korean Air Lines, is under investigation by police for possible assault after testimony that she “sprayed a drink toward them” during a business meeting. (MBC footage / Yonhap via Reuters)
Updated 19 April 2018
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Korean Air headquarters raided in probe into ‘nut rage’ sister

SEOUL: South Korean police raided Korean Air Lines headquarters in Seoul on Thursday as part of a probe into the youngest daughter of the airline’s chairman, Yonhap News Agency said.
Cho Hyun-min, a senior vice president at the airline, is under investigation by police for possible assault after testimony that she “sprayed a drink toward them” during a business meeting.
Korean Air Lines shares fell as much as 4.1 percent while budget airline affiliate Jin Air, where Cho is an executive vice president, dropped 5.3 percent.
A Korean Air spokesman confirmed the raid, but did not elaborate on the reason. A police official declined to comment.
Cho, who is also known as Emily Cho, has apologized for her behavior, but says she “pushed” a cup of water and did not throw it at anyone’s face as media have reported.
Her older sister Heather Cho made headlines over a notorious “nut rage” incident in 2014, when she lost her temper over the way she was served nuts in first class and ordered the Korean Air plane to return to its gate at a New York airport.
South Korea’s customs agency is also looking into accusations that Cho and other family members did not pay customs duties on luxury goods brought into the country, the agency said on Wednesday.


Saudi Arabia and UAE launch a new joint cryptocurrency

Updated 20 January 2019
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Saudi Arabia and UAE launch a new joint cryptocurrency

  • The cryptocurrency will be limited to banks during its first stages
  • The program will also help the two countries evaluate the monetary policies of a centralized currency

Saudi Arabia and the UAE have launched a joint cryptocurrency during the first meeting of the Saudi-Emirati Coordination council Saturday in Abu Dhabi, UAE’s national press agency WAM said.

The cryptocurrency will be limited to banks during its first stages, until the governments have a better understanding of how Blockchain technology operates cross-borders.

The currency operates on the use of a “distributed database between the central banks and the participating banks from both sides,” aiming to protect customer interests, set technology standards and assess cybersecurity risks. The new program will also help evaluate the impacts of a central currency on monetary policies.

During the meeting, representatives of Saudi Arabia and the UAE also signed the Joint Supply Chained Security Cooperation program, which tests the two countries abilities to provide vital supplies during times of crisis and national emergencies, as well as share expertise and knowledge in the field.

All 16 members of the executive committee of the council followed up on the execution of the initiatives mentioned in the Strategy of Resolve.

Representatives also set five other initiatives to enhance the cooperation between the two countries, such as facilitating the traffic between ports, improving airports to make it easier for people with disabilities to travel, creating a financial awareness program for children aged 7-18, starting a joint platform to support local SMEs, and the integration of civil aviation markets,

The committee was headed by Mohammad bin Abdullah Al-Gergawi, minister of cabinet of affairs and the future of UAE, and Mohammed bin Mazyad Al-Twaijri, minister of economy and planning in Saudi. The committee will also monitor the implementation of the initiatives.