A TV news programme on March 3, 2016, at Seoul Railway Station in Seoul, South Korea, shows file footage of the missile launch conducted by North Korea. The country fired several short-range projectiles into the sea off its east coast Thursday, Seoul officials said, just hours after the UN Security Council approved the toughest sanctions on Pyongyang in two decades for its recent nuclear test and long-range rocket launch. The screen reads “ North Korea launched missiles.” Ahn Young-join / Associated Press
A TV news programme on March 3, 2016, at Seoul Railway Station in Seoul, South Korea, shows file footage of the missile launch conducted by North Korea. The country fired several short-range projectilShow more

North Korea fires missiles in defiance of latest UN sanctions



UNITED NATIONS // North Korea fired six short-range guided missiles into the sea yesterday, hours after the United Nations adopted the toughest sanctions to date on Pyongyang because of its fourth nuclear test and rocket launch.

Russia expressed hope yesterday that North Korea would “draw the right conclusions” and resume talks.

“We are hoping that the North Korean side will take this decision in an adequate manner, draw the right conclusions and return to the negotiating table to settle the nuclear problem on the Korean peninsula,” the foreign ministry said.

Limited displays of military firepower have become a routine response by North Korea to international pressure on its nuclear weapons programme and human rights record, among other points of contention.

South Korea’s defence ministry said the six guided missiles fell into the sea about 100 to 150 kilometres off the North’s east coast.

The launches came after the UN Security Council unanimously passed a resolution on Wednesday which imposed more sanctions after seven weeks of arduous negotiations between the United States and China, Pyongyang’s sole major ally.

Eyes were on China and Russia to see if they fully enact the sweeping measures.

The sanctions break ground and require all countries to inspect cargo destined for and coming from North Korea, in all airports and seaports.

They also ban or restrict exports of coal, iron and iron ore and other minerals from North Korea, and prohibit the supply of aviation fuel, including rocket fuel.

The European Union is considering additional measures against North Korea following the UN’s unanimous vote to expand sanctions to show solidarity with Pyongyang’s major trade partners, South Korea and Japan, diplomats said.

The European Union foreign policy chief Federica Mogherini welcomed Wednesday’s decision, saying the bloc would update its sanctions regime.

“There is scope for the European Union to adopt additional autonomous restrictive measures to complement and reinforce the new UN measures,” said a diplomatic note on the latest discussions.

Analysts pointed to several possible loopholes, including interpretations of what constituted a proper cargo “inspection” and a provision that excluded mineral exports if their revenues are not deemed to be destined for military use.

North Korea earns about US$1 billion (Dh3.67bn) a year from coal exports – a third of all export revenues – and about $200 million annually from iron ore sales, US ambassador Samantha Power told the security council.

US president Barack Obama welcomed the measures as “a firm, united, and appropriate response” to the January 6 nuclear test and February 7 rocket launch.

“The international community, speaking with one voice, has sent Pyongyang a simple message: North Korea must abandon these dangerous programmes and choose a better path for its people,” Mr Obama said.

Banking restrictions will be tightened, and governments will be required to ban flights of any plane suspected of carrying contraband destined for North Korea.

“These are among the toughest measures we have agreed against any country in the world, certainly the toughest ever against the DPRK,” said British ambassador Matthew Rycroft, referring to North Korea by its official acronym.

Sixteen individuals and 12 entities were added to a UN sanctions blacklist, including North Korea’s space and spy agencies.

UN member states will be required to expel North Korean diplomats engaged in smuggling or other illegal activities.

South Korean president Park Geun-hye said she hoped the “unprecedentedly tough” sanctions would push Pyongyang into finally abandoning its nuclear weapons programme.

The resolution sends “a strong message from the international community seeking peace on the Korean peninsula”, Ms Park said.

Japanese prime minister Shinzo Abe urged Pyongyang to refrain from any fresh provocations, while Tokyo’s ambassador to the UN, Motohide Yoshikawa, said that “the heart of the matter now is implementation” of the sanctions by China, North Korea’s largest trading partner, and other countries.

Ms Power also called for a “robust and unyielding” follow-up to ensure the sanctions bite and singled out Russia and China as key players.

Chinese ambassador Liu Jieyi said the resolution should “be a new starting point and a stepping stone” for renewed talks on dismantling North Korea’s nuclear programme.

During the weeks of negotiations, China had been reluctant to endorse harsh sanctions out of concern that too much pressure would trigger the collapse of the pariah regime, creating chaos on its border.

China’s ambassador renewed Beijing’s opposition to plans by South Korea and the US to deploy a new missile defence system on the Korean peninsula, saying it undermined efforts to restart Korea talks.

* Agence France-Presse, with additional reporting from Reuters

COMPANY%20PROFILE
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Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

COMPANY%20PROFILE%20
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Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

The%20specs
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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20electric%20motors%20with%20102kW%20battery%20pack%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E570hp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20890Nm%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERange%3A%3C%2Fstrong%3E%20Up%20to%20428km%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C700%2C000%3C%2Fp%3E%0A
Oppenheimer
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EChristopher%20Nolan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ECillian%20Murphy%2C%20Emily%20Blunt%2C%20Robert%20Downey%20Jr%2C%20Florence%20Pugh%2C%20Matt%20Damon%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3Cbr%3E%3C%2Fp%3E%0A
Company%20Profile
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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Company%20profile
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded