US options on North Korea effective and overwhelming: Trump

Agencies
September 16, 2017

Washington, Sept 16: A day after North Korea fired an intermediate range ballistic missile over Japan, President Donald Trump said he is confident that the US' options towards North Korea are "effective and overwhelming."

"After seeing your capabilities and commitment here today, I am more confident than ever that our options in addressing this threat are both effective and overwhelming," Trump said in his address to air force personnel and families on the 70th anniversary of the US Air Force.

Trump said America and its allies will never be intimidated.

"We will defend our people, our nations, and our civilisation from all who dare to threaten our way of life. This includes the regime of North Korea, which has once again shown its utter contempt for its neighbours and for the entire world community," he said.

North Korea yesterday fired an intermediate range ballistic missile over Japan and into the Pacific Ocean. But the North American Aerospace Defense Command (NORAD) had said the ballistic missile did not pose a threat to North America.

Meanwhile, US Secretary of Defense James Mattis spoke over phone with his Japanese counterpart Defense Itsunori Onodera following the latest North Korean missile launch, the Pentagon said.

"The secretary reassured his Japanese counterpart of America's unwavering commitment to the defense of Japan and the broader security of the region," Director of Defense Press Operations Colonel Rob Manning said.

"Mattis and Onodera agreed that the North Korean provocation called for a strong demonstration of a unified front between the US, Japan, and the Republic of Korea, and agreed on the importance of robust trilateral defense cooperation between the three nations," he said.

Mattis told reporters on his way to Mexico that as a result of the North Korean missile test, tens of millions of Japanese people were seen going into duck and cover, which was second time that they've had to do that since World War II.

"I believe it will further North Korea's isolation -- diplomatic and economic isolation -- because more and more nations are realising there's simply no collaboration with the international community. There's a dismissal of international concern, unified UN Security Council concerns," he said.

"I think they're deepening their isolation, economic and diplomatic. And right now, I don't have any more forensics on it. That takes us a little while, as we amass everything and analyse it," Mattis said.

Responding to a question, Mattis said he is not aware of any effort on the part of South Korea to shoot down the North Korean missile.

"The South Korean government said they fired a missile within minutes afterwards, from their coastline. It was a short-range missile, obviously, simply to make clear that they have the capability to defend themselves," he said.

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News Network
February 21,2020

New Delhi, Feb 21: Global terror financing watchdog FATF on Friday decided continuation of Pakistan in the "Grey List" and warned the country that stern action will be taken if it fails to check flow of money to terror groups like the LeT and the JeM, sources said.

The decision has been taken at the Financial Action Task Force's plenary in Paris.

The FATF decided to continue Pakistani in the "Grey List". The FATF also warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses, a source said.

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News Network
March 28,2020

Washington, Mar 28: The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund said on Friday, but projected a recovery next year.

"We have reassessed the prospects for growth for 2020 and 2021. It is now clear that we have entered a recession as bad or worse than in 2009. We do project recovery in 2021," IMF Managing Director Kristalina Georgieva told reporters at a news conference.

Georgieva was addressing the press after a meeting of governing body of the IMF, the International Monetary and Financial Committee. Representing 189 members, the body met virtually to discuss the unprecedented challenge posed to the world by COVID-19.

The key to recovery in 2021, she said, is only if the international community succeeds in containing the virus everywhere and prevent liquidity problems from becoming a solvency issue.

"The US is in recession, as is the rest of the advanced economies of the world. And in a big chunk of developed and emerging markets in developing economies. How severe? We are working now on our projections for 2020, Georgieva said in response to a question.

The new projections are expected in the next few weeks.

Stressing that while containment is the main reason for the economy to stand still and get into a recession, she said containment is very necessary to come out of this period and step in to recovery. "Until the virus is not contained, it would be very difficult to go to the lives we love."

"A key concern about a long-lasting impact of the sudden stop of the world economy is the risk of a wave of bankruptcies and layoffs that not only can undermine the recovery. But can erode the fabric of our societies," the IMF chief said.

To avoid this from happening, many countries have taken far-reaching measures to address the health crisis and to cushion its impact on the economy, both on the monetary and on the fiscal side, she said.

The IMF chief said 81 emergency financing requests, including 50 from lower-income countries, have been received. She said current estimate for the overall financial needs of emerging markets is 2.5 trillion dollars.

"We believe this is on the lower end. We do know that their own reserves and domestic resources will not be sufficient," she added.

The G-20, a day earlier, reported fiscal measures totalling some 5 trillion dollars or over 6 per cent of the global GDP.

Responding to another question, Georgieva said the IMF is projecting recession for 2020.

"We do expect it to be quite deep and we are very much urging countries to step up containment measures aggressively so we can shorten the duration of this period of time when the economy is in standstill," she said.

"And also to apply well-targeted measures, primarily focusing on the health system to absorb that enormous stress that comes from coronavirus. And on people, businesses and the financial system, I am very pleased to say that when we went through countries' responses, that sense of targeted fiscal measures is there and are also very impressive to see the size of these measures," she added.

"Countries are doing all they can on the fiscal and on the monetary front. We have heard from our members' very impressive decisions taken over the last days," the IMF chief said.

"We also want to caution that as we are responding now, we want to make the recession as possibly short and not too deep. We also want to think about what is going to follow the recovery and make sure that we are putting forward measures that can be supportive in this regard," she said.

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News Network
February 4,2020

Kuala Lumpur, Feb 4: Malaysia said on Tuesday that India's move to cut back on palm oil purchases is "temporary" and will be resolved amicably between the two nations.

Last month, India restricted imports of refined palm oil and asked importers to avoid purchases from Malaysia after its criticism of actions in Kashmir and a new citizenship law.

"Having long-standing bilateral ties, the two nations will overcome the current challenges, and prevail towards mutual and beneficial outcomes," the Malaysian Palm Oil Council said in a statement, citing Primary Industries Minister Teresa Kok.

Malaysia's push to implement B20 biodiesel starting this month will also help sustain high crude palm oil prices, the statement read.

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