Kim Jong-Un calls on North to mass-produce nukes, missiles

Agencies
January 1, 2018

Seoul, Jan 1: Kim Jong-Un urged North Korea to mass-produce nuclear warheads and missiles in a defiant New Year message today suggesting he would continue to accelerate a rogue weapons programme that has stoked international tensions.

Pyongyang dramatically ramped up its efforts to become a nuclear power in 2017, despite a raft of international sanctions and increasingly bellicose rhetoric from the United States.

Kim, who said today that he always had a nuclear launch button on his desk, has presided over multiple missile tests in recent months and the North's sixth and most powerful nuclear test -- which it said was a hydrogen bomb -- in September.

"We must mass-produce nuclear warheads and ballistic missiles and speed up their deployment," said Kim in his annual address to the nation, reiterating his claims that North Korea had achieved its goal of becoming a nuclear state.

The North says its weapons programme is designed to be able to target the US mainland and tested increasingly longer-range intercontinental ballistic missiles (ICBMs) throughout 2017.

US President Donald Trump has responded to each test with his own amplified declarations, threatening to "totally destroy" Pyongyang and taunting Kim, saying the North Korean leader was on "a suicide mission".

But far from persuading Kim to give up his nuclear drive, analysts say Trump's tough talk may have prompted the North Korean leader to drive through with his dangerous quest.

"(The North) can cope with any kind of nuclear threats from the US and has a strong nuclear deterrence that is able to prevent the US from playing with fire," Kim said today.

"The nuclear button is always on my table. The US must realise this is not blackmail but reality."

His comments come after a former top US military officer warned that the United States is now closer than it has ever been to a nuclear war with the North, with little hope of a diplomatic solution to the crisis.

Mike Mullen, a former chairman of the US joint chiefs of staff, said the Trump presidency had helped create "an incredibly dangerous climate", in an interview on ABC's "This Week".

"We're actually closer, in my view, to a nuclear war with North Korea and in that region than we have ever been," he said.

Pyongyang claims it needs nuclear weapons to protect itself from a hostile US and sees American military activities in the region -- such as the joint drills it takes part in with the South -- as a precursor to invasion.

As tensions spiked in the region in recent months, the international community has slapped a range of sanctions on the North aimed at curbing its weapons programme and squeezing the country's leadership.

In December the United Nations Security Council unanimously passed new, US-drafted sanctions to restrict oil supplies vital for the impoverished state.

The third raft of sanctions imposed last year, which the North slammed as an "act of war", also received the backing of China -- the North's sole major ally and economic lifeline.

But the embargoes have shown little sign of dampening Kim's enthusiasm for his weapons drive.

Observers say Washington must open talks with the North to defuse tensions -- but that remains a challenge.

The North has always said it will only deal with the US from a position of equality as a nuclear state.

Washington has long insisted that it will not accept a nuclear-armed North and Pyongyang must embark on a path towards denuclearisation before any talks.

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News Network
March 12,2020

Geneva, Mar 12: For the global economy, virus repercussions were profound, with increasing concerns of wealth- and job-wrecking recessions. U.S. stocks wiped out more than all the gains from a huge rally a day earlier as Wall Street continued to reel.

The Dow Jones Industrial Average dropped 1,464 points, bringing it 20% below its record set last month and putting it in what Wall Street calls a “bear market.” The broader S&P 500 is just 1 percentage point away from falling into bear territory and bringing to an end one of the greatest runs in Wall Street’s history.

WHO officials said they thought long and hard about labeling the crisis a pandemic — defined as sustained outbreaks in multiple regions of the world.

The risk of employing the term, Ryan said, is “if people use it as an excuse to give up.” But the benefit is “potentially of galvanizing the world to fight.”

Underscoring the mounting challenge: soaring numbers in the U.S. and Europe’s status as the new epicenter of the pandemic. While Italy exceeds 12,000 cases and the United States has topped 1,300, China reported a record low of just 15 new cases Thursday and three-fourths of its infected patients have recovered.

China’s totals of 80,793 cases and 3,169 deaths are a shrinking portion of the world’s more than 126,000 infections and 4,600 deaths.

“If you want to be blunt, Europe is the new China,” said Robert Redfield, the head of the U.S. Centers for Disease Control and Prevention.

With 12,462 cases and 827 deaths, Italy said all shops and businesses except pharmacies and grocery stores would be closed beginning Thursday and designated billions in financial relief to cushion economic shocks in its latest efforts to adjust to the fast-evolving crisis that silenced the usually bustling heart of the Catholic faith, St. Peter’s Square.

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News Network
June 15,2020

Jun 15: Oil prices fell on Monday, with U.S. oil dropping more than 2%, as a spike in new coronavirus cases in the United States raised concerns over a second wave of the virus which would weigh on the pace of fuel demand recovery.

Brent crude futures fell 66 cents, or 1.7%, at $38.07 a barrel as of 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 81 cents, or 2.2%, to $35.45 a barrel.

Both benchmarks ended down about 8% last week, their first weekly declines since April, hit by the U.S. coronavirus concerns: More than 25,000 new cases were reported on Saturday alone as more states, including Florida and Texas, reported record new infection highs.

"Concerns about the recent uptick in COVID-19 infections in the U.S. and a potential 'second wave' are weighing on oil at the moment," said Stephen Innes, chief global market strategist at AxiCorp.

Meanwhile, an OPEC-led monitoring panel will meet on Thursday to discuss ongoing record production cuts to see whether countries have delivered their share of the reductions, but will not make any decision, according to five OPEC+ sources.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been reducing supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July.

Iraq, one of the laggards in complying with the curbs, agreed with its major oil companies to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

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News Network
June 17,2020

Washington, Jun 17: The United States is closely monitoring the situation following a fierce clash between Indian and Chinese forces in eastern Ladakh and hopes that the differences will be resolved peacefully, officials said here.

Twenty Indian Army personnel including a colonel were killed in the clash with Chinese troops in the Galwan Valley in eastern Ladakh on Monday night, the biggest military confrontation in over five decades that has significantly escalated the already volatile border standoff in the region.

"We are closely monitoring the situation between Indian and Chinese forces along the Line of Actual Control," a State Department spokesperson said.

"We note the Indian military has announced that 20 soldiers have died, and we offer our condolences to their families," the official said.

Both India and China have expressed their desires to de-escalate and the US supports a peaceful resolution of the current situation, the spokesperson said.

"During their phone call on June 2, 2020, President Donald Trump and Prime Minister Narendra Modi had discussed the situation along the India-China border," the official added.

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