US will continue to put pressure on North Korea, says White House

US will continue to put pressure on North Korea, says White HouseThe US will keep on putting most extreme monetary and discretionary weight on North Korea even as President Donald Trump stays predictable in his position of keeping “every one of the alternatives on table”, theWhite House has said.

White House Press Secretary Sarah Sanders said Trump had a fantastic group around him and has accomplished enormous achievements on the universal stage by working with partners and going up against foes.

“We will keep doing that, and we will keep doing that as a group with the president driving that exertion,” she said yesterday.”We’re proceeding to put greatest monetary and strategic weight on nations like North Korea.We will keep on doing that, yet in the meantime, the president will keep the greater part of his choices on the table. Our position has not changed. It’s been extremely reliable,” she said.

North Korea terminated a rocket over Japan a month ago and tried a nuclear bomb, provoking Trump to demand that “all alternatives were on the table” in an inferred risk of pre-emptive military activity. In his lady deliver to the UN General Assembly a month ago, Trump said that no country on Earth had an enthusiasm for seeing “this band of lawbreakers” arm itself with atomic weapons and rockets.

The UN Security Council has collectively passed a US-drafted determination that forces most grounded authorizes ever on North Korea, with measures focusing on its final significant fares and decreasing around 30 for every penny of oil gave to it….Read More

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Will North Korea sell its nuclear technology?

Kim Jong Un

Over the years North Korea has earned millions of dollars from the export of arms and missiles, and its involvement in other illicit activities such as smuggling drugs, endangered wildlife products and counterfeit goods.Still, there are only a handful of cases that suggest these illicit networks have been turned to export nuclear technology or materials to other states.

North Korean technicians allegedly assisted the Pakistanis in production of Krytrons, likely sometime in the 1990s.Krytrons are devices used to trigger the detonation of a nuclear device. Later in the 1990s, North Korea allegedly transferred cylinders of low-enriched uranium hexafluoride (UF6) to Pakistan,where notorious proliferator A.Q. Khan shipped them onward to Libya.UF6 is a gaseous uranium compound that’s needed to create the “highly enriched uranium” used in weapons.

The most significant case was revealed in 2007 when Israeli Air Force jets bombed a facility in Syria.The U.S. government alleges this was an “undeclared nuclear reactor,” capable of producing plutonium, that had been under construction with North Korean assistance since the late 1990s.A U.S. intelligence briefing shortly after the strike highlighted the close resemblance between the Syrian reactor and the North Korean Yongbyon reactor. It also noted evidence of unspecified “cargo” being transported from North Korea to the site in 2006.

More recently, a 2017 U.N. report alleged that North Korea had been seeking to sell Lithium-6 (Li-6), an isotope used in the production of thermonuclear weapons. The online ad that caught the attention of researchers suggested North Korea could supply 22 pounds of the substance each month from Dandong,a Chinese city on the North Korean border.

 

 

 

 

North Korea fires 2nd missile over Japan in a month: Top 10 developments 

North Korea's sixth nuclear test

The United Nations Security Council (UNSC) will meet at 3 pm EDT (1900 GMT) on Friday over the latest missile test by North Korea at the request of the United States and Japan.

North Korea on Friday launched a missile that flew over northern Japan before plunging into the Pacific Ocean, the South Korean military said. The still-unidentified missile was launched around 6.30 am (local time) from east of Pyongyang, the North Korean capital, according to South Korea’s military Joint Chiefs of Staff.

The officials said that the rocket could have reached an altitude of 770 km and flew for a total of some 3,700 km. According to the Japanese government’s missile alert system, the missile overflew the northern Japanese island of Hokkaido and fell into the Pacific Ocean, Efe news reported.

Japanese government spokesman Yoshihide Suga told reporters that the missile fell into the ocean some 2,000 km from the town of Erimo in eastern Hokkaido without being seen to do so by any ships or aircraft in that area.

Here are the top developments:

1) The UNSC will meet on Friday over the latest missile test by North Korea.

2) US President Donald Trump has been briefed on North Korea’s launch of an unidentified missile over Japan, according to White House spokeswoman Sarah Huckabee Sanders.

3) Following the missile launch over his country, Japanese Prime Minister Shinzo Abesaid that Japan would “never tolerate” what he called North Korea’s “dangerous provocative action that threatens world peace”.

4) The South Korean President’s Office immediately called a meeting of that country’s National Security Council and troops of the Asian nation undertook a ballistic missiletest in the Sea of Japan to the east of the Korean Peninsula in response to the launch.

5) The launch, from near Pyongyang, came after the UNSC imposed the eighth set of sanctions on the country over its ballistic missile and atomic weapons programmes

6) The 15-member Security Council voted unanimously in support of a US-drafted resolution condemning the missile test conducted by North Korea on September 3 and imposed measures that include a ban on its textile imports and restrictions on oil exports to the country.

7) The US has asked China and Russia to take direct action against North Korea to “indicate their intolerance” to the provocative missile tests carried out by Read More

Yen, bonds, safe-haven gold gain after North Korea’s ‘hydrogen bomb’ test

A woman counts Japanese 10,000 yen notes in Tokyo. Photo: Reuters Japanese yen-Monday as North Korea latest nuclear test provoked the usual knee-jerk shift to safe havens, though equity losses were modest amid expectations the flare-up would prove fleeting.The dollar was marked down as deep as 109.22 yen at the opening, off a whole yen from late on Friday, but there was no follow-through selling and it was last at 109.84.

Japan is the world’s largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen. Many wonder, however, if Japanese assets would really remain in favour if an actual war broke out in Asia.Japan’s Nikkei did not take the news well, losing 0.9 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.4 per cent with South Korea’s main index down 0.6 per cent.

“Like a bad horror movie, the North Korea saga intersperses moments of calm, with occasional action to jolt you out of your chair,” said ING’s head of Asian research than Rob Carnell.”But we have been here now many, many times,” he added. “Unless this is the precursor to US military action, which we doubt, then in a little over a day or two, tensions will calm again, making this a good buying opportunity for investors with a strong enough nerve.”

North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, prompting the threat of a “massive” military response from the United States if it or its allies were threatened.

US job growth slowed more than expected in August after two straight months of hefty increases. Nonfarm payrolls increased by 156,000 last month, while economists had forecast an increase of 180,000.On a brighter note, the Institute for Supply Management reported its factory activity index soared to 58.8 in August, the highest reading since April 2011.

 

North Korea factories humming with ‘Made in China’ clothes: Traders 

North Korea factories humming with 'Made in China' clothes: Traders

Chinese textile firms are increasingly using North Korean factories to take advantage of cheaper labour across the border, traders and businesses in the border city of Dandong told Reuters.The clothes made in North Korea are labelled “Made in China” and exported across the world, they said.

Using North Korea to produce cheap clothes for sale around the globe shows that for every door that is closed by ever-tightening United Nations (UN) sanctions another one may open. The UN sanctions, introduced to punish North Korea for its missile and nuclear programs, do not include any bans on textile exports.

“We take orders from all over the world,” said one Korean-Chinese businessman in Dandong, the Chinese border city where the majority of North Korea trade passes through. Like many people Reuters interviewed for this story, he spoke on condition of anonymity because of the sensitivity of the issue.

Dozens of clothing agents operate in Dandong, acting as go-betweens for Chinese clothing suppliers and buyers from the United States, Europe, Japan, South Korea, Canada and Russia, the businessman said. “We will ask the Chinese suppliers who work with us if they plan on being open with their client — sometimes the final buyer won’t realise their clothes are being made in North Korea.It’s extremely sensitive,” he said.

Market falls 4% in 7 sessions: Is it a good time to buy

markets-flat

Markets have been on a downward spiral since August 2 when the Nifty50 hit a high of 10,137 levels in intra-day deals. Since then, the index has tanked nearly 4%, or around 400 points to 9,737 levels in intra-day deals on Friday.

The recent fall has been triggered by rising geopolitical tension across the globe – one, between India and China on the Doklam standoff, and two the developments with North Korea and the United States. That apart, Sebi’s order to ban trade in 331 suspectedshell companies also dented sentiment, as did sub-par second quarter results of select companies.

Given the developments, analysts say there could be more pain in store for the markets that have recently taken cognizance of the developing geopolitical situation. Though they do not wish to predict how deep and long this correction could last, experts do caution that the fall is beyond anyone’s control as it is driven by geopolitical reasons.

“Global events that are beyond market control have triggered the recently fall. If there is more action over the weekend, the markets will continue to fall in the coming week as well. A lot depends on the geopolitical front and to that extent predicting the road ahead for specific index levels is risky,” says Jayant Manglik, president retail distribution at Religare Securities.

Since its recent high on August 2,investor wealth as measured by market-capitalisation (market-cap) of the Nifty 50 companies till August 10 has dipped by over Rs 1,47,600 crore, ACE Equity data show.

US plans trade measures against China

China Trade Deficit

The Trump administration is planning trade measures to force Beijing to crack down on intellectual-property theft and ease requirements that American companies share advanced technologies to gain entry to the Chinese market.

The administration is considering invoking a little-used provision of U.S. trade law to investigate whether China’s intellectual-property policies constitute “unfair trade practices,” according to people familiar with the matter.

That would pave the way for the U.S. to impose sanctions on Chinese exporters or to further restrict the transfer of advanced technology to Chinese firms or to U.S.-China joint ventures.

American business frustration with Chinese trade and market-access practices has mounted in recent years, with U.S. business groups urging the government to take a tougher trade line with China. Many organizations have complained that the Trump administration hasn’t pushed hard enough in areas like intellectual property, as it has focused more on Chinese manufacturing and China’s $347 billion trade surplus with the U.S. last year.