Latest news with #cabinet
CNA
3 hours ago
- Business
- CNA
South Korea's new President Lee begins moves to tackle economic 'crisis'
SEOUL: South Korea's new President Lee Jae-myung held his first cabinet meeting on Thursday (Jun 5) focused on devising an emergency package to address stagnating economic growth and aid households, moving swiftly to start tackling a top campaign pledge. Lee took office on Wednesday just hours after riding a wave of anger over a brief martial law imposed by Yoon Suk Yeol to win the snap election. The attempt at military rule led to Yoon's ouster and sent shockwaves through Asia's fourth-largest economy. In brief remarks open to the media, Lee told the carry-over cabinet left by the caretaker government that was in place following Yoon's impeachment in December that there was no time to waste in getting to work as the people were facing hardship. Lee has so far only nominated a political ally and legislative veteran as prime minister and is racing to form a cabinet and staff his office to maintain continuity in administration. The new leader expressed bewilderment after entering the presidential office on Wednesday, saying it was stripped of computers, printers and even pens and was quiet like "a graveyard" with government officials who had been assigned there sent back to their posts. Lee has made economic recovery one of his top priorities and vowed to immediately unleash fiscal spending of at least 30 trillion won (US$22 billion) to boost growth, which was projected by the central bank in May to be almost half of its earlier estimate this year at 0.8 per cent, down from 1.5 per cent in February. Kim Min-seok, whose appointment as prime minister requires parliamentary approval, said on Wednesday the country was facing even more economic turmoil than during the Asian financial crisis of 1997, complicated by unfavourable external factors. "Today, the economy is heading downward and stagnating, which is why I believe it's much more difficult," he told reporters. The previous government had made little progress in trying to assuage crushing US tariffs that would hit some of the country's major export-reliant industries, including autos, electronics and steel. Lee faces what could be the most daunting set of challenges for a South Korean leader in decades, analysts said, ranging from healing a country deeply scarred by the martial law attempt to tackling unpredictable protectionist moves by the United States.
Reuters
4 hours ago
- Business
- Reuters
South Korea's new President Lee begins moves to tackle economic 'crisis'
SEOUL, June 5 (Reuters) - South Korea's new President Lee Jae-myung held his first cabinet meeting on Thursday focused on devising an emergency package to address stagnating economic growth and aid households, moving swiftly to start tackling a top campaign pledge. Lee took office on Wednesday just hours after riding a wave of anger over a brief martial law imposed by Yoon Suk Yeol to win the snap election. The attempt at military rule led to Yoon's ouster and sent shockwaves through Asia's fourth-largest economy. In brief remarks open to the media, Lee told the carry-over cabinet left by the caretaker government that was in place following Yoon's impeachment in December that there was no time to waste in getting to work as the people were facing hardship. Lee has so far only nominated a political ally and legislative veteran as prime minister and is racing to form a cabinet and staff his office to maintain continuity in administration. The new leader expressed bewilderment after entering the presidential office on Wednesday, saying it was stripped of computers, printers and even pens and was quiet like "a graveyard" with government officials who had been assigned there sent back to their posts. Lee has made economic recovery one of his top priorities and vowed to immediately unleash fiscal spending of at least 30 trillion won ($22 billion) to boost growth, which was projected by the central bank in May to be almost half of its earlier estimate this year at 0.8%, down from 1.5% in February. Kim Min-seok, whose appointment as prime minister requires parliamentary approval, said on Wednesday the country was facing even more economic turmoil than during the Asian financial crisis of 1997, complicated by unfavourable external factors. "Today, the economy is heading downward and stagnating, which is why I believe it's much more difficult," he told reporters. The previous government had made little progress in trying to assuage crushing U.S. tariffs that would hit some of the country's major export-reliant industries, including autos, electronics and steel. Lee faces what could be the most daunting set of challenges for a South Korean leader in decades, analysts said, ranging from healing a country deeply scarred by the martial law attempt to tackling unpredictable protectionist moves by the United States. He spoke to the country's top military leader on Wednesday as his first official event. ($1 = 1,359.2000 won)
Yahoo
2 days ago
- Business
- Yahoo
'Delighted' council leader announces new cabinet
Cornwall Council's leader has announced the appointment of his new cabinet. Liberal Democrat councillor Leigh Frost was voted leader with coalition support from the Independent group for Cornwall with 53 votes for and 25 abstentions, on 20 May. Reform UK won 28 seats in the local election, the largest number won by a party, but it fell short of the 44 seats needed for a majority. Frost said he was "delighted" with the new the new cabinet team, adding it was "united by a shared commitment to improving the lives of people across Cornwall". "We'll be working closely with residents, businesses, and community groups to shape a Cornwall that works for everyone," he said. "We are driven by common sense principles. Every decision we make will be focused on putting people first." Deputy leader, Adam Paynter, added: "Despite the situation we have inherited we are determined to deliver services that people can rely on." Councillor Leigh Frost – leader of Cornwall Council Councillor Adam Paynter – deputy leader and portfolio holder for resources Councillor Jim McKenna – cabinet member for adult social care and health partnerships Councillor Hilary Frank – cabinet member for children, families and schools Councillor Sarah Preece – cabinet member for tourism, localism and planning Councillor Thalia Marrington – cabinet member for community safety and public health Councillor Loic Rich – cabinet member for environment and climate change Councillor Tim Dwelly – cabinet member for economic regeneration and investment Councillor Peter La Broy – cabinet member for housing Councillor Dan Rogerson – cabinet member for transport More news stories for Cornwall Listen to the latest news for Cornwall Follow BBC Cornwall on X, Facebook and Instagram. Send your story ideas to spotlight@ Reform in opposition as council leader elected Council leader pledges 'getting back to basics' Cornwall Council
BBC News
2 days ago
- Business
- BBC News
Cornwall Council leader announces new cabinet
Cornwall Council's leader has announced the appointment of his new Democrat councillor Leigh Frost was voted leader with coalition support from the Independent group for Cornwall with 53 votes for and 25 abstentions, on 20 UK won 28 seats in the local election, the largest number won by a party, but it fell short of the 44 seats needed for a said he was "delighted" with the new the new cabinet team, adding it was "united by a shared commitment to improving the lives of people across Cornwall". 'Common sense' "We'll be working closely with residents, businesses, and community groups to shape a Cornwall that works for everyone," he said."We are driven by common sense principles. Every decision we make will be focused on putting people first."Deputy leader, Adam Paynter, added: "Despite the situation we have inherited we are determined to deliver services that people can rely on." Full list of cabinet members Councillor Leigh Frost – leader of Cornwall CouncilCouncillor Adam Paynter – deputy leader and portfolio holder for resourcesCouncillor Jim McKenna – cabinet member for adult social care and health partnershipsCouncillor Hilary Frank – cabinet member for children, families and schoolsCouncillor Sarah Preece – cabinet member for tourism, localism and planningCouncillor Thalia Marrington – cabinet member for community safety and public healthCouncillor Loic Rich – cabinet member for environment and climate changeCouncillor Tim Dwelly – cabinet member for economic regeneration and investmentCouncillor Peter La Broy – cabinet member for housingCouncillor Dan Rogerson – cabinet member for transport
Bloomberg
3 days ago
- General
- Bloomberg
Sudan's Army-Backed Prime Minister Poised to Form New Government
Sudan's army-appointed Prime Minister Kamil Idris dissolved the government in preparation to form a new cabinet, almost two weeks after he was announced as the war-torn country's first premier in more than three years. He commissioned deputies and general secretaries to execute their ministries' duties until the new government takes shape, Sudan's state-run news agency SUNA reported without providing a time-frame.
