S. Korea, US begin review of trade deal
Seoul and Washington officials start talks on possible changes to the United States-Korea Free Trade Agreement today, after President Donald Trump blamed the deal for a trade deficit with South Korea. As the US is South Korea's second-largest trade partner, a renegotiation has potential to disrupt an economy that grew at the fastest pace since early 2014 in last year's third quarter, and a currency that was Asia's best performer last year.
Pongal festivities start with light-up
This year's month-long Pongal celebrations will kick off today with a light-up ceremony in Little India. The theme of this year's light-up is rangoli fusion designs, banana leaves and various Pongal elements such as sugar cane and rice. Pongal is a harvest and thanksgiving festival that marks the start of spring, and is celebrated worldwide by Tamils.
US job figures for December
The United States Labour Department will release today employment data for last month.
This is on the back of strong job growth last November, which saw non-farm payrolls rise by 228,000 jobs amid broad gains in hiring. This was accompanied by a rebound in wages, up by an annual increase of 2.5 per cent from 2.3 per cent in October.