North Korea fires ballistic missile

Al Jazeera
November 29, 2017

Seoul, Nov 29: North Korea has fired a ballistic missile, the first such launch since mid-September, according to officials in South Korea, Japan and the United States.

"North Korea launched an unidentified ballistic missile eastward from the vicinity of Pyongsong, South Pyongan Province, at dawn today", South Korean army officials told South Korean news agency Yonhap.

There was no immediate comment from North Korea.

The missile was fired from Pyongsong, a city in South Pyongan Province, at around 3:17am local time (18:17 GMT) on Wednesday, according to South Korea's military. 

Japanese Defence Minister Itsunori Onodera said the missile reached an estimated altitude of around 4,000 kilometres and broke up before landing in the country's "exclusive economic zone".

His US counterpart, James Mattis, said the missile went higher than ever before, describing it as a step towards Pyongyang building missiles that can "threaten everywhere in the world, basically".

"With these tests, North Korea wants to demonstrate to the world the range its missiles have," Al Jazeera's Kathy Novak, reporting from South Korea's capital, Seoul, said.

An initial assessment by the US Department of Defense said North Korea fired an intercontinental ballistic missile (ICBM). This type of missile is capable of carrying nuclear warheads and could reach the mainland of the United States. 

If the Pentagon's first assessment turns out to be correct, it would be the third test of an ICBM by North Korea this year.

Following the launch, South Korean President Moon Jae-in was expected to preside a national security meeting with top advisers, while Japanese Prime Minister Shinzo Abe called for an emergency meeting of the UN Security Council.

"This is being taken very seriously here in the region," said Al Jazeera's Novak, noting that South Korea conducted a live-fire drill five minutes after the firing of the missile.

2The message that the South wants to send to the North is that it is monitoring actions coming out of North Korea; that it detects these missile launches quickly; and that it is prepared to respond," she added.

Commenting on the launch, US President Donald Trump said "it is a situation we will handle", adding that the US stance on the North Korea issue would not change.

Last week, Trump re-designated North Korea as a "state sponsor of terrorism", a move that was described as being part of a "maximum pressure campaign" to isolate Pyongyang even more.

Trump said more economic sanctions were to be expected as a result of his decision.

The US president and North Korean leader Kim Jong-un have repeatedly traded barbs - Trump has called Kim "rocket man", while North Korea's leader described the US president as a "dotard".

Jens Stoltenberg, secretary-general of NATO, condemned the missile launch.

"This is a further breach of multiple UN Security Council Resolutions, undermining regional and international security", he said in a statement.

His view was echoed by the European Union. "This launch represents a further grave provocation, and a serious threat to international security," an EU spokeswoman said.

First launch in months

The launch in the early hours of Wednesday was the first since September 15, when North Korea fired a ballistic missile over the Japanese island Hokkaido, eventually crashing into the Pacific Ocean.

That launch was condemned by leaders around the world. 

On September 3, North Korea conducted its most powerful nuclear test ever, detonating a hydrogen bomb northeast of Pyongyang. That test, weeks before the United Nations General Assembly, angered global leaders.

The UN Security Council implemented new economic sanctions on North Korea as a result of that nuclear test.

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News Network
March 30,2020

Mar 30: Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.

"Today we have to assume that he was deeply worried," said Bouffier, a close ally of Chancellor Angela Merkel.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Popular and well-respected, Schaefer had long been touted as a possible successor to Bouffier.

Like Bouffier, Schaefer belonged to Merkel's centre-right CDU party.

He leaves behind a wife and two children.

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Agencies
June 29,2020

Tehran, Jun 29: Iran has issued an arrest warrant and asked Interpol for help in detaining President Donald Trump and dozens of others it believes carried out the drone strike that killed a top Iranian general in Baghdad, a local prosecutor reportedly said Monday.

While Trump faces no danger of arrest, the charges underscore the heightened tensions between Iran and the United States since Trump unilaterally withdrew America from Tehran’s nuclear deal with world powers.

Tehran prosecutor Ali Alqasimehr said Trump and more than 30 others whom Iran accuses of involvement in the Jan. 3 strike that killed Gen. Qassem Soleimani in Baghdad face “murder and terrorism charges,” the semiofficial ISNA news agency reported.

Alqasimehr did not identify anyone else sought other than Trump, but stressed that Iran would continue to pursue his prosecution even after his presidency ends.

Interpol, based in Lyon, France, did not immediately respond to a request for comment.

Alqasimehr also was quoted as saying that Iran requested a “red notice” be put out for Trump and the others, which represents the highest level arrest request issued by Interpol. Local authorities end up making the arrests on behalf of the country that request it. The notices cannot force countries to arrest or extradite suspects, but can put government leaders on the spot and limit suspects’ travel.

After receiving a request, Interpol meets by committee and discusses whether or not to share the information with its member states. Interpol has no requirement for making any of the notices public, though some do get published on its website.

It is unlikely Interpol would grant Iran’s request as its guideline for notices forbids it from “undertaking any intervention or activities of a political” nature.

The U.S. killed Soleimani, who oversaw the Revolutionary Guard’s expeditionary Quds Force, and others in the January strike near Baghdad International Airport. It came after months of incidents raising tensions between the two countries and ultimately saw Iran retaliate with a ballistic missile strike targeting American troops in Iraq.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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