US attention on Pyongyang is overdue. But tough talk will only move the regime so far. Wong Maye-E / AP Photo
US attention on Pyongyang is overdue. But tough talk will only move the regime so far. Wong Maye-E / AP Photo
US attention on Pyongyang is overdue. But tough talk will only move the regime so far. Wong Maye-E / AP Photo
US attention on Pyongyang is overdue. But tough talk will only move the regime so far. Wong Maye-E / AP Photo

Care is needed on North Korea


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After many years in which North Korea was rarely at the top of the political agenda, the conflict on the Korean Peninsula is now a matter of strong debate – and stronger threats. In the past few weeks, there has been a flurry of activity, with military exercises conducted in the region by both North Korea and South Korea and two failed missile launches by the North.

At the same time, the United States has ratcheted up the pressure. Donald Trump has warned that the US could “end up having a major, major conflict with North Korea”. A US anti-missile system was deployed in South Korea. The US secretary of state last week addressed the United Nations, calling on the body to act in the face of what he called “the most pressing security issue in the world”. He repeated that all options were still on the table.

Such talk is deeply concerning. North Korea has the ability to hit heavily populated areas in South Korea and Japan – including the capitals of both countries – with conventional weapons, to say nothing of their nuclear capability. Pyongyang has a history of lashing out when provoked and with the US issuing such strongly-worded pronouncements, the possibility of retaliation against the South cannot be dismissed.

At the same time, the last US administration hardly made progress on ending North Korea’s nuclear ambitions. The peninsula has only become more dangerous and the decades-old split between the North and the South shows no signs of being resolved. Treating the new Kim regime with kid gloves has not yielded any political results so far.

So the Trump administration’s focus on the problem is overdue, as is the recognition by Mr Trump that China, North Korea’s biggest trading partner, is not using all its leverage. But such tough talk must be accompanied by careful diplomacy. The North’s economic model is unsustainable. Targeting that may yield better results than military sabre-rattling. Quietly pressuring China may be better than public condemnations. North Korea is a tough case to crack, but it will take quiet determination – not a sharp shock.

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1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

A Long Way Home by Peter Carey
Faber & Faber

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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Sim swap frauds are a form of identity theft.

They involve criminals conning mobile phone operators into issuing them with replacement Sim cards by claiming to be the victim, often pretending their phone has been lost or stolen in order to secure a new Sim.

They use the victim's personal details - obtained through criminal methods - to convince such companies of their identity.

The criminal can then access any online service that requires security codes to be sent to a user's mobile phone, such as banking services.

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

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