South Korea's top court clears Samsung Chairman Lee in 2015 merger fraud case

South Korea's top court upheld on Thursday a not-guilty verdict for the chairman of Samsung Electronics Jay Y. Lee, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $8 billion merger in 2015, Reuters reported.

The Supreme Court's verdict permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips.

The Supreme Court upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T (028260.KS), opens new tab and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant.

A lower court last year had also cleared Lee of the charges, according to Reuters.

Coca-Cola to use real cane sugar in US coke, Trump confirms

US President Donald Trump announced that Coca-Cola will return to using real cane sugar in its namesake soda sold in the US, following his discussions with the company.

“I have been speaking to Coca-Cola about using real Cane Sugar in Coke… and they have agreed,” he posted on Truth Social, according to Xinhua.

Coca-Cola confirmed the decision, adding that more product updates will follow soon. The company switched to high-fructose corn syrup in the 1980s to cut costs.

The move comes amid rising health concerns over artificial sweeteners. Coca-Cola already sells a cane sugar version known as “Mexican Coke”, Xinhua reported.

 

Nepse surges by 34. 61 points on Wednesday

The Nepal Stock Exchange (NEPSE) gained 34. 61 points to close at 2,794. 78 points on Wednesday.

Similarly, the sensitive index surged by 7. 86 points to close at 489. 27 points.

A total of 43,111,416-unit shares of 330 companies were traded for Rs 14. 03 billion.

Meanwhile, 10% KBL Debenture 2090 (KBLD90) and Three Star Hydropower Limited were the top gainers today, with their price surging by 10. 00 percent. Likewise, Mai Khola Hydropower Limited (MKHL) was the top loser as its price fell by 7. 87 percent.

At the end of the day, total market capitalization stood at Rs 4. 65 trillion.

 

Govt preparing to make Korala border point operational: Oli

Prime Minister KP Sharma Oli has said that he has instructed officials to bring the Korala border with China in Mustang into full-fledged operation after setting up necessary infrastructure. During a meeting with people’s representatives from Mustang in Kathmandu on Tuesday, Oli said he had already issued directives to open the Korala border point as an alternative trade and transit route with China, particularly in the wake of recent natural disasters that have disrupted other customs points.

The Rasuwagadhi border point, Nepal’s primary land route for trade with China, has been shut since July 8 after a flash flood in the Lhendekhola River damaged customs and immigration facilities and roads. Similarly, the Tatopani customs point, another gateway to China, is facing operational issues due to frequent landslides and poor road conditions, making it an unreliable route for trade and passenger movement.

Given these setbacks, local representatives and other stakeholders of Mustang have been pressing the government to fast-track preparations for the Korala route. A few days ago, tourism entrepreneurs urged the government to initiate diplomatic talks with China to allow Kailash-Mansarovar pilgrims, who were stranded due to the Rasuwagadhi flood, to travel to Tibet, China via the Korala border.

During the meeting, local representatives drew the Prime Minister’s attention to the lack of necessary infrastructure at the border. They said the government should immediately initiate the process to blacktop the 97-kilometer Kagbeni–Korala section of the Kaligandaki Corridor Road and establish customs, immigration, an integrated security post and a dry port at the Korala point to support cross-border operations.

The Korala border, believed to be a part of the ancient Silk Route, facilitated trade between Tibet and the Indian subcontinent for centuries. Realizing the trade prospects of this border point, Nepal has been building the Kaligandaki Corridor Road to link Tibet with India. The 254-kilometer highway links Gaidakot along the East-West Highway with Korala via the Kali Gandaki Corridor.

While China has built most of the facilities on its side, the Nepali side of the border remains deserted. About a dozen tents of Nepali traders selling products brought from China can be seen at the border, catering to domestic tourists who reach the border point. The Armed Police Force (APF) has built a border outpost (BOP) a few kilometers below the border. Although the government has set up an immigration office, it is largely non-operational.

“As soon as Rasuwagadhi was hit by floods, I instructed officials to begin preparations for operating the Korala point as an alternative,” Oli told people’s representatives from Mustang.

Locals also raised concerns about the high restricted area permit fee, $500 per person for 10 days, which, they say, has restricted tourism activities in remote villages of Mustang, particularly those in Lomanthang and Lo-Ghekar Damodarkunda rural municipalities.