Day: December 26, 2023

S. Korea Sanctions 8 N. Koreans Over Arms Trade, Cyberattacks

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SEOUL, South Korea —  South Korea imposed sanctions on eight North Koreans linked to nuclear and missile development through arms trade, cyberattacks and other illicit activities, Seoul’s foreign ministry said on Wednesday. The sanctions came days after North Korea fired a new intercontinental ballistic missile, which South Korea and the United States strongly condemned as a grave violation of U.N. Security Council resolutions. The newly blacklisted people include Ri Chang Ho, head of the Reconnaissance General Bureau involved in overseas hacking operations, and Yun Chol, who helped supply nuclear materials…

Why hasn’t China joined US-led naval force against Houthi rebel attacks in Red Sea?

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However, despite the likely impact of the attacks on China’s own supply chains, Beijing might not take part in the anti-piracy drive until there are actual security threats to Chinese vessels, the observers said. The Houthis’ actions are mainly concentrated around the Bab el-Mandeb strait from the Red Sea to the Gulf of Aden along the Yemeni coast – a unique energy corridor connecting to Egypt’s Suez Canal linking Europe and Asia. The 193km (120-mile) canal, one of the world’s busiest waterways and the shortest shipping route between Europe and…

10 Dead in Australia Thunderstorms, Thousands Without Power

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SYDNEY —  Ten people were killed in Australia after severe thunderstorms battered the country’s east over the Christmas holidays, authorities said on Wednesday, with tens of thousands of properties still without power. Wild weather lashed the states of Victoria, New South Wales and Queensland on Dec. 25 and 26 bringing large hailstones and torrential rains. Strong winds blew off roofs and brought down trees in some of the worst-affected areas. More than 90,000 households are still without power. Three men were killed after a yacht with 11 on board capsized…

Three remain missing in sub accident: Taiwan Navy

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The search continues for three crew members of a Taiwanese submarine, who were swept off their boat by a sudden large wave last week, Taiwan’s Navy has said. The accident took place last Thursday when the Hai Hu (Sea Tiger) submarine was on a training mission in southeastern Taiwan. Despite the window known as “golden 72 hours,” when the survival rate of the victims is high, having long passed, the search-and-rescue mission has not stopped. “All officers and soldiers are brothers and sisters and we will not give up the…

China turns spotlight on digital economy in quest for ‘common prosperity’ under President Xi Jinping

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China will focus on the digital economy to promote President Xi Jinping’s vision for “common prosperity”, national planning and data authorities said. The National Development and Reform Commission and the new National Data Administration have jointly released a plan to expand the application of digital technology to support the development of China’s real economy. The government “aims to consistently narrow disparities among regions, urban and rural areas, various demographic groups, and among fundamental public services, while striving to continually bridge the digital divide”, the data administration said in announcing the…

Indonesia’s Bank Mandiri ‘strikes back’ at fintech rivals

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Surging downloads and use of its two-year-old digital banking apps are boosting the confidence of Indonesia’s top lender Bank Mandiri, as fintech players try to retain existing customers while looking for more among the country’s large unbanked population, the bank’s chief told Nikkei Asia. Darmawan Junaidi, president-director, said that when he assumed his role in October 2020 at Indonesia’s largest lender by assets, both financial technology experts and customers doubted…

S Korea issues unilateral sanctions on 8 N Korean individuals

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South Korea imposed unilateral sanctions on North Korean individuals involved in illicit financing of the country’s high-stake nuclear programs that have posed threats to the United States and its regional allies. New sanctions target eight individuals, including the Director of the Reconnaissance General Bureau Ri Chang-ho, and the CEO of a company called Beijing New Technology Park Yong-han, South Korea’s foreign ministry said in a statement Wednesday. The ministry asserted that the individuals were actively involved in generating income for supporting Pyongyang’s nuclear and missile programs through what it described…

Victim? Villain? Huawei finds itself trapped in US-China dispute

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Stay informed with free updates Simply sign up to the Technology sector myFT Digest — delivered directly to your inbox. What would it take for a large private company to betray its founding purpose, its customers and its staff? Such is the question raised by Huawei, the world’s largest maker of telecoms equipment. US intelligence officials view it as a glove for the hand of China’s military, a national security threat to be placed under sanctions and driven out of international phone networks. It views itself as an entrepreneurial, research-driven…

China’s dreamers and dropouts ‘lie flat’ in Dali

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Unlike many Chinese people of her generation, Zhu Xiangjuan does not believe in saving money, nor does she like formal schooling. Pouring tea in her rustic bookshop in Dali, in south-west China’s Yunnan province, the 40-something mother of one explains that she sends her child to a home-schooling group instead where they learn “naturally” by reading Confucian tomes. “The younger children will follow the older ones, the older ones will follow their parents, it will come naturally,” she said, smiling disarmingly. Zhu’s views might be radical for China, which has…

China’s dreamers and dropouts: ‘lying flat’ generation checks out in Dali

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Unlike many Chinese people of her generation, Zhu Xiangjuan does not believe in saving money, nor does she like formal schooling. Pouring tea in her rustic bookshop in Dali, in south-west China’s Yunnan province, the 40-something mother of one explains that she sends her child to a home-schooling group instead where they learn “naturally” by reading Confucian tomes. “The younger children will follow the older ones, the older ones will follow their parents, it will come naturally,” she said, smiling disarmingly. Zhu’s views might be radical for China, which has…