The Nation Newspaper

Tag: North Korea

  • U.S expands travel ban to include N’ Korea, Venezuela

    U.S expands travel ban to include N’ Korea, Venezuela

    The United States has expanded its controversial travel ban to include people from North Korea, Venezuela and Chad. The White House said the restrictions follow a review of information sharing by foreign governments. The BBC reports President Donald Trump issued a proclamation on the matter late on Sunday.

    “Making America safe is my number one priority. We will not admit those into our country we cannot safely vet,” Mr. Trump said. The restrictions on Venezuelans apply only to government officials and their family members. The three new countries join five others from Mr. Trump’s original travel ban: Iran, Libya, Syria, Yemen, and Somalia. But the new proclamation removed restrictions that were placed on Sudan.

    Mr. Trump’s original ban was highly controversial, as it affected six majority-Muslim countries, and was widely labelled a “Muslim ban.” It was subject to a range of legal challenges and several large-scale protests, and is due to be considered by the U.S Supreme Court in October, having been partly reinstated in July.

    The American Civil Liberties Union rights group said the addition of the new countries “doesn’t obfuscate the real fact that the administration’s order is still a Muslim ban.” It is not yet clear how the President’s new proclamation, which changed several key elements, will affect that legal challenge.

  • Trump speech, a dog’s bark – North Korea

    Trump speech, a dog’s bark – North Korea

    North Korea’s top diplomat has called United States President, Donald Trump’s speech to the United Nation “the sound of a barking dog.”

    Speaking to the UN General Assembly on Tuesday, Mr. Trump said he would “totally destroy” North Korea if it posed a threat to the U.S or its allies.

    Foreign Minister Ri Yong-ho’s comments were North Korea’s first official response to the speech, the BBC reports.

    The North has continued to develop its nuclear and weapons programmes, in defiance of a UN ban.

    Mr. Ri told journalists near the UN headquarters in New York: “There is a saying that goes: ‘Even when dogs bark, the parade goes on’.”

    “If [Trump] was thinking about surprising us with the sound of a barking dog then he is clearly dreaming.”

    Speaking about North Korean leader, Kim Jong-un, Mr. Trump had told the UN: “Rocket man is on a suicide mission for himself and his regime.”

    When asked what he thought of Mr. Trump calling Mr. Kim “rocket man”, Mr. Ri responded: “I feel sorry for his aides.”

  • Nuclear war: Buhari seeks panel to meet North Korea

    Nuclear war: Buhari seeks panel to meet North Korea

    President Muhammadu Buhari on yesterday urged the United Nations (UN) to include regional representatives in the committee to engage the North Korea towards averting a nuclear war.

    He specifically advised world leaders to explore all avenues to prevent use of nuclear weapons by the North Korea.

    Buhari spoke during the general debate of the 72nd Session of the United Nations General Assembly in New York.

    He said: “The most pressing threat to international peace and security today is the accelerated nuclear weapons development programme by North Korea. Since the Cuban missile crisis of 1962, we have never come so close to the threat of nuclear war as we have now.

    “All necessary pressure and diplomatic efforts must be brought to bear on North Korea to accept peaceful resolution of the crisis.  As Hiroshima and Nagasaki painfully remind us, if we fail, the catastrophic and devastating human loss and environmental degradation cannot be imagined.

    “Nigeria proposes a strong UN delegation to urgently engage the North Korean Leader. The delegation, led by the Security Council, should include members from all the regions.” he said

    Buhari said the crisis in the Korean peninsula underscored the urgency for all member states, guided by the spirit of enthroning a safer and more peaceful world, to ratify without delay the Treaty prohibiting nuclear weapons, which will be open for signature at the 72nd session on Wednesday.

    The President also pointed out that state institutions were being strengthened to promote accountability, and to combat corruption and asset recovery through individual national efforts.

    But he said that they could only be achieved through the international community cooperating and providing critical assistance and material support.

    “We shall also cooperate in addressing the growing transnational crimes, such as forced labour, modern day slavery, human trafficking and cybercrime,” he said.

    He sought for the support of the world leaders to stop the infiltration of ISIS in the Sahel Region and the Lake Chad Basin.

    Buhari said: “These cooperative efforts should be sustained. We must collectively devise strategies and mobilise the required responses to stop fleeing ISIS fighters from mutating and infiltrating into the Sahel and the Lake Chad Basin, where there are insufficient resources and response capacity is weak.

    “This will require strong UN cooperation with regional organisations, such as the African Union, in conflict prevention and management.

    “The UN should continue to take primary leadership of the maintenance of international peace and security by providing, in a predictable and sustainable manner, adequate funding and other enablers to regional initiatives and peacekeeping operations authorised by the Security Council.”

     According to him, new conflicts should not make the leaders lose focus on ongoing unresolved old conflicts.

    “For example, several UN Security Council Resolutions from 1967 on the Middle East crisis remain unimplemented. Meanwhile, the suffering of the Palestinian people and the blockade of Gaza continue.

    “Additionally, we are now confronted by the desperate human rights and humanitarian situations in Yemen and most tragically in the Rakhine State of Myanmar.

    “The Myanmar crisis is very reminiscent of what happened in Bosnia in 1995 and in Rwanda in 1994.

    “The international community cannot remain silent and not condemn the horrendous suffering caused by what from all indications is a state-backed programme of brutal depopulation of the Rohingya inhabited areas in Myanmar on the bases of ethnicity and religion.

    “We fully endorse the call by the Secretary-General on the Government of Myanmar to order a halt to the ongoing ethnic cleansing and ensure the safe return of the displaced Rohingya to their homes in safety and dignity.”

    “In all these crises, the primary victims are the people, the most vulnerable being women and children. That is why the theme of this session: Focusing on People: Striving for Peace and Decent Life for All on a Sustainable Planet” is most apposite.”

    Buhari drew the attention of the world leaders to the widening inequalities within societies, and gap between rich and poor nations.

  • Nuclear war: Buhari urges regional inclusion in North Korea’s talks

    Nuclear war: Buhari urges regional inclusion in North Korea’s talks

    President Muhammadu Buhari on Tuesday urged the United Nations to include regional representatives in the committee to meet North Korea over its nuclear programme.

    He specifically tasked world leaders to explore all avenues to prevent use of nuclear weapons by North Korea.

    Buhari spoke during the general debate of the 72nd Session of the United Nations General Assembly in New York.

    He said: “The most pressing threat to international peace and security today is the accelerated nuclear weapons development programme by North Korea. Since the Cuban missile crisis of 1962, we have never come so close to the threat of nuclear war as we have now.

    “All necessary pressure and diplomatic efforts must be brought to bear on North Korea to accept peaceful resolution of the crisis.  As Hiroshima and Nagasaki painfully remind us, if we fail, the catastrophic and devastating human loss and environmental degradation cannot be imagined.

    “Nigeria proposes a strong UN delegation to urgently engage the North Korean leader. The delegation, led by the Security Council, should include members from all the regions.”

    He said the crisis in the Korean peninsula underscores the urgency for all member states, guided by the spirit of enthroning a safer and more peaceful world, to ratify without delay the Treaty prohibiting nuclear weapons, which will be open for signature at the 72nd session on Wednesday.

    President Buhari also pointed out that state institutions are being strengthened to promote accountability and combat corruption and asset recovery through individual national efforts.

     

  • Oil prices rise toward $56 as demand increases

    Oil prices rise toward $56 as demand increases

    Oil prices were lower on Friday but on course for weekly gains, the third in a row in the case of Brent as the clean-up after hurricane in the United States gathers pace and the outlook for demand rise.

    U.S. West Texas Intermediate crude was above 50 dollars on  hitting a four-month high and finished 1.2 per cent higher at 49.89 dollars, the highest since July 31.

    Brent crude futures were  at 55.24 dollars a barrel just as they hit 55.99 dollars on Thursday.

    The Organisation of the Petroleum Exporting Countries (OPEC) this week forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non- member countries is helping to tackle a supply glut.

    It was followed by the IEA saying the global oil glut was shrinking, thanks to strong European and U.S. demands as well as production declines in OPEC and non-OPEC countries.

    BP Chief Executive Bob Dudley said oil prices were likely to stay up to 60 dollars  as major producers kept output restricted.

    In other markets, typically safe haven assets like the Yen and gold were higher after North Korea fired off yet another missile in breach of United Nations sanctions amid high regional tensions over its nuclear weapons programme.

  • SP500 in a positive territory ahead of the Friday’s NFP data

    SP500 in a positive territory ahead of the Friday’s NFP data

    SP500 is on a best way to set new all time highs… again. That was not so clear as fas as few days ago, when we had a strong risk aversion caused by increased tensions over the Korean Peninsula. North Korea fired missiles which flew over the territory of Japan. Markets were griped by the fear but mild response from the US without a ‘Fire and Fury’ scenario was taken very optimistic by the markets.

    All save heavens were quickly dumped and stocks bounced. SP500 did not stop the correction in the random place. The downswing was terminated exactly on the long-term up trendline (red). Rising price created a right shoulder of the iH&S formation. In addition to that, we were inside of the flag formation, which was a very bullish sign. The upper line of the flag was in the same time the neckline so we should not be surprised that the breakout there triggered a significant buy signal and that traders respected that by climbing higher. The neckline was broken and later defended as a closest support,which increases the chances for a mid-term bullish success.

    The current sentiment is positive. The closest resistance is the 2482. With the current situation the chances that we will make new all time highs are very high.

    Tomasz Wisniewski
    Chief Analyst – Alpari Research & Analysis Limited

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  • U.S imposes sanctions on Chinese, Russian firms over North Korea

    U.S imposes sanctions on Chinese, Russian firms over North Korea

    The United States has imposed sanctions on a dozen Russian and Chinese companies and individuals it accuses of helping North Korea’s nuclear weapons programme.

    Earlier this month, members of the United Nations Security Council, including Russia and China, voted for further sanctions against Pyongyang, the BBC reports.

    The U.S Treasury said the move would “increase pressure” on North Korea.

    China responded swiftly, calling on the U.S to “immediately correct its mistake” of punishing its firms.

    The U.S Office of Foreign Assets Control listed 10 companies and six individuals in its sanctions.

    “[The] Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programmes, and isolating them from the American financial system,” said Treasury Secretary, Steven Mnuchin.

    The action means American individuals and companies are no longer permitted to do business with these firms.

    A series of missile tests by Pyongyang has increased tensions between North Korea and the U.S, with both sides engaged in a heated exchange of threats.

    U.S President, Donald Trump, has threatened the isolated regime with “fire and fury like the world has never seen,” leading North Korea to respond with threats to launch missiles near the U.S island of Guam in the South Pacific Ocean.

     

  • China says it will defend interests if US harms trade ties

    China says it will defend interests if US harms trade ties

    China said it would take action to defend its interests if the United States damaged trade ties between them.

    The Ministry of Commerce stated this on Tuesday, after US President, Donald Trump, authorized an inquiry into China’s alleged theft of intellectual property.

    Trump’s move, the first direct trade measure by his administration against China, comes at a time of heightened tension over North Korea’s nuclear ambitions, though it is unlikely to prompt near-term change in commercial ties.

    U.S Trade Representative, Robert Lighthizer, will have a year to check whether to launch formal investigation of China’s policies on intellectual-property, which the White House and US industry groups say are harming US businesses.

    The United States should respect objective facts, act prudently, abide by its World Trade Organization pledges, and not destroy principles of multilateralism, an unidentified spokesman of China’s Ministry of Commerce said in a statement.

    “If the U.S side ignores the facts and disrespects multilateral trade principles in taking actions that harm both sides’ trade interests, China will absolutely not sit by and watch.

    “It will inevitably adopt all appropriate measures, and resolutely safeguard China’s lawful rights.”

    The ministry said that the U.S should “treasure” the cooperation and favourable state of China-US trade relations, and warned that any US action to damage ties would “harm both sides’ trade relations and companies”.

    “China is continuously strengthening its administrative and judicial protections for intellectual property,’’ the ministry added.

    China’s policy of forcing foreign companies to turn over technology to Chinese joint venture partners and failure to crack down on intellectual property theft has been long-standing problems for several US administrations.

    Trump administration officials have estimated that theft of intellectual property by China could be worth as much as 600 billion dollars.

    Experts on China trade policy said the long lead time could allow Beijing to discuss some of the issues raised by Washington without being seen to cave to pressure under the threat of reprisals.

  • North Korea ‘considering’ strike on U.S base

    North Korea has said it is considering carrying out missile strikes on the United States Pacific territory of Guam.

    The North’s official news agency said on Tuesday the plan involved firing medium-to-long-range rockets at Guam, where U.S strategic bombers are based.

    U.S Secretary of State, Rex Tillerson, flying into Guam, said there was no imminent threat from North Korea.

    He also defended President Donald Trump, who on Tuesday threatened Pyongyang with “fire and fury.”

    Mr. Tillerson said North Korean leader, Kim Jong-un, did not understand diplomatic language, and a strong message was needed that he would understand.

    “I think the President just wanted to be clear to the North Korean regime that the U.S will defend itself and its allies,” the BBBC quoted the Secretary of State as saying in Guam.

    On Wednesday, Mr. Trump tweeted that the U.S nuclear arsenal was “more powerful than ever before,” but added he was hopeful “we will never have to use this power.”

    A foreign ministry statement quoted by Reuters called on all sides to avoid words or actions which might escalate the situation and to make greater efforts to resolve the issue via talks.

    The United Nations recently approved further economic sanctions on North Korea, which Pyongyang said were a “violent violation of our sovereignty,” warning the U.S would “pay a price.”

     

  • We are not seeking regime change in North Korea – U.S

    We are not seeking regime change in North Korea – U.S

    The United States government is not seeking a regime change in North Korea, the secretary of state has said, amid tensions over Pyongyang’s weapons programme.

    “We’re not your enemy,” Rex Tillerson said, adding that the U.S wanted a dialogue at some point.

    But a Republican senator said President Donald Trump had told him there would be a war with North Korea if its missile programme continued.

    Pyongyang claimed its latest missile could hit the U.S west coast.

    The second test of an intercontinental ballistic missile (ICBM) on Friday, celebrated by North Korean leader, Kim Jong-un, was the latest to be conducted in defiance of a United Nations ban, the BBC reports.

    “We do not seek a regime change, we do not seek the collapse of the regime, we do not seek an accelerated reunification of the peninsula, we do not seek an excuse to send our military north of the 38th parallel,” said Mr. Tillerson, referring to the border between the Koreas.

    “We’re not your enemy, we’re not your threat but you’re presenting an unacceptable threat to us and we have to respond.”

    President Trump has repeatedly criticised China, which shares a land border with North Korea and is its closest economic ally, for not doing enough to stop Pyongyang’s weapons programme.

    However, Mr. Tillerson took a more diplomatic approach, saying that “only the North Koreans are to blame for this situation.”