Kim Jong Un's North Korea says it has suspended nuclear, missile testing

April 21, 2018

Apr 21: North Korea said today it has suspended nuclear and long-range missile tests and plans to close its nuclear test site.

The announcement came ahead of a new round of nuclear negotiations between Pyongyang, Seoul and Washington, but there was no clear indication in the North's announcement if it would be willing to deal away its arsenal.

The North rather expressed confidence about its nuclear force, which leader Kim Jong Un declared as complete in November after a slew of weapons tests that included the underground detonation of a purported thermonuclear warhead and flight tests of three intercontinental ballistic missiles.

Some analysts believe Kim is entering the negotiations from a position of strength and is unlikely to accept a significant cut of his arsenal. South Korean and U.S. officials have said Kim is likely trying to save his broken economy from heavy sanctions.

After the announcement today about testing, U.S. President Donald Trump tweeted, "This is very good news for North Korea and the World" and "big progress!" He also said he's looking forward to his upcoming summit with Kim.

The North's official Korean Central News Agency said the country is making the move to shift its national focus and improve its economy.

The North also vowed to actively engage with regional neighbours and the international community to secure peace in the Korean Peninsula and create an "optimal international environment" to build its economy.

The announcements came days before Kim is set to meet South Korean President Moon Jae-in in a border truce village for a rare summit aimed at resolving the nuclear standoff with Pyongyang.

A separate meeting between Kim and Trump is anticipated in May or June.

The North's decisions were made in a meeting of the ruling party's full Central Committee which had convened to discuss a "new stage" of policies.

The Korean Workers' Party's Central Committee declared it a "great victory" in the country's official "byungjin" policy line of simultaneously pursuing economic and nuclear development.

The committee unanimously adopted a resolution that called for concentrating national efforts to achieve a strong socialist economy and "groundbreaking improvements in people's lives." "To secure transparency on the suspension of nuclear tests, we will close the republic's northern nuclear test site," the party's resolution said.

The agency quoted Kim as saying during the meeting: "Nuclear development has proceeded scientifically and in due order and the development of the delivery strike means also proceeded scientifically and verified the completion of nuclear weapons.

"We no longer need any nuclear test or test launches of intermediate and intercontinental range ballistic missiles and because of this the northern nuclear test site has finished its mission."

Seoul says Kim has expressed genuine interest in dealing away his nuclear weapons. But North Korea for decades has been pushing a concept of "denuclearization" that bears no resemblance to the American definition, vowing to pursue nuclear development unless Washington removes its troops from the peninsula.

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News Network
March 7,2020

Mar 7: Two Malayalam news channels, Asianet News and Media One, which were banned by the information and broadcasting ministry for their coverage of the recent violence in Delhi on Friday evening, were allowed to resume telecasting on Saturday morning.

While Asianet News appeared to have begun operations around 7am on Saturday, Media One was screening content by 9.30am.

The ministry of information and broadcasting had imposed a 48-hour ban on Asianet News and Media One for their coverage of the Delhi violence for 48 hours from 7.30pm on Friday. Both Asianet News and Media One were barred under Rule 6(1 c) and Rule 6(1e) of the Cable Television Networks Act, 1994.

The ministry of information and broadcasting alleged Asianet News and Media One were "biased" and critical of the RSS and Delhi Police.

The ban on Asianet News and Media One triggered a torrent of criticism of the move. Congress MP Shashi Tharoor asked how "Malayalam channels inflame communal passions in Delhi?" and alleged some English news channels were continuing "their brazen distortions" with impunity.

In a statement issued on Friday after the ban, Media One termed the move "unfortunate and condemnable" and called it a "blatant attack against free and fair reporting". Media One called it "an order to stop free and fair journalism".

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coastaldigest.com news network
May 6,2020

Mangaluru, May 6: Three more coronavirus positive cases have been reported in Dakshina Kannada district. 

According to fresh bulletin of health and family welfare department, an 11-year-old girl and a 36-year-old woman from Boloor in Mangaluru and a 16-year-old girl from Bantwal tested positive for the covid-19. 

All of them are undergoing treatment at Wenlock Hospital. Their condition is said to be stable. 

With this the total number of cases in the district reached 28 including 22 residents of Dakshina Kannada, 4 from Kasaragod, 1 from Udupi and 1 from Uttara Kannada.

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News Network
March 21,2020

Mar 21: India’s economy, already in the grip of a slowdown, is in for more pain after Prime Minister Narendra Modi appealed to citizens to stay at and work from home to curb the coronavirus outbreak.

The services sector, which accounts for about 55% of India’s gross domestic product, is poised to be the worst hit after Modi, in a late evening address on Thursday, urged citizens to go on a self-imposed curfew for a day and private companies to allow employees to work from home for longer. In the country’s vast informal sector, social-distancing measures could mean a dent to productivity and consumption because of job or pay losses.

“The impact of a partial lock-down or social distancing will be significant,” said Rahul Bajoria, a senior economist at Barclays Plc in Mumbai. “If there’s a widespread community outbreak, GDP could fall as low as 3.5% in the year starting April 1.”

Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% in the current year to March 31. Before the virus outbreak, India had forecast growth to recover to 6%-6.5% in the next fiscal year. S&P Global Ratings and Fitch Ratings have already slashed their growth forecast by 50 basis points.

“The current social-distancing measures will severely impact airlines, hotels, malls, multiplexes, restaurants and retailers,” according to analysts at Crisil Ltd., the local unit of S&P Global. “Lower footfalls and occupancies, decline in business volume and sub-optimal operating efficiencies will impact cash flows of companies in these sectors,” wrote the analysts led by Chief Economist Dharmakirti Joshi.

The government will try to announce a relief package for virus-affected sectors as early as possible, Finance Minister Nirmala Sitharaman said Friday.

In a televised address, Modi advised all citizens to stay at home for a day on March 22, as he sought to stem the spread of the coronavirus -- cases of which are relatively low in India at about 200, compared with more than 200,000 infected people globally. His government also barred incoming flights for a week from that day, joining a growing list of countries effectively sealing their borders.

What Bloomberg’s Economists Say

We had only earlier this week lowered our GDP outlook to consider the direct impact of the local outbreak as confirmed virus cases exceeded 100 as of March 15 and the federal and state governments announced social distancing measures that have already started to crimp economic activity. We are now revising down our GDP estimate for 4Q fiscal 2020 to 3.3%, from our 3.5%.

-- Abhishek Gupta, India economist

For more, click here

“Consumption being the biggest component of GDP, a lock-down is bound to have a big impact on the economy,” said Devendra Kumar Pant, chief economist at India Ratings and Research, the local unit of Fitch. “Modeling uncertainty in any system will be very difficult, but one can say the slowdown could deepen or prolong further.”

Work From Home

While companies, including billionaire Mukesh Ambani-controlled Reliance Industries Ltd., are asking employees to work from home, the option isn’t feasible in India’s vast informal sector.

“The option to work remotely simply won’t exist for most,” said Shilan Shah, an economist with Capital Economics Pte. in Singapore.

As many households don’t have savings buffers, the government would probably have to back this up with large-scale cash handouts that reach the poorest, he said.

Work from home is posing implementation challenges for the manufacturing sector where workers are required to be physically present at the production sites. The services sector, such as banking and information technology, also needs employees to be present in offices as confidential data is used, according to industry group Federation of Indian Chambers of Commerce and Industry.

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