North Korea is believed to have launched its recent missile test from a submarine. Reuters
North Korea is believed to have launched its recent missile test from a submarine. Reuters
North Korea is believed to have launched its recent missile test from a submarine. Reuters
North Korea is believed to have launched its recent missile test from a submarine. Reuters

North Korea fires two ballistic missiles in its second launch within a week


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North Korea fired two ballistic missiles into the sea on Wednesday, according to the South's military, as China's foreign minister visited Seoul.

The launch came only days after it test-fired a new “long-range cruise missile”, which reportedly hit a target 1,500 kilometres away.

Analysts said the timing of Wednesday's launch was an unmistakable signal to Beijing, the North's key diplomatic ally and main partner for trade and aid – although at times their relationship has been deeply strained.

Pyongyang is under a self-imposed blockade after closing its borders early last year to protect itself against the coronavirus pandemic.

The nuclear-armed North fired “two unidentified ballistic missiles” from its central inland area into the sea off its east coast, Seoul's Joint Chiefs of Staff, said.

“South Korean and US intelligence agencies are conducting detailed analysis.”

But the military top brass did not give details of the missiles' range.

The launch coincided with Chinese Foreign Minister Wang Yi's visit to Seoul for talks with his South Korean counterpart.

  • North Korean leader Kim Jong-un reacts during a military parade held to mark the 8th Congress of the Workers' Party of Korea in Pyongyang, North Korea. North Korean Central News Agency (KCNA) / EPA
    North Korean leader Kim Jong-un reacts during a military parade held to mark the 8th Congress of the Workers' Party of Korea in Pyongyang, North Korea. North Korean Central News Agency (KCNA) / EPA
  • North Korean leader Kim Jong-un salutes troops during a military parade. KCNA / EPA
    North Korean leader Kim Jong-un salutes troops during a military parade. KCNA / EPA
  • People wave the national flags as North Korean leader Kim Jong-un, centre top, attends a military parade, at Kim Il-sung Square. KCNA / AP
    People wave the national flags as North Korean leader Kim Jong-un, centre top, attends a military parade, at Kim Il-sung Square. KCNA / AP
  • North Korean leader Kim Jong-un, centre, attends a military parade marking the ruling party congress. KCNA / AP
    North Korean leader Kim Jong-un, centre, attends a military parade marking the ruling party congress. KCNA / AP
  • People attend a military parade celebrating the 8th Congress of the Workers' Party of Korea in Pyongyang. KCNA / AFP
    People attend a military parade celebrating the 8th Congress of the Workers' Party of Korea in Pyongyang. KCNA / AFP
  • A tank unit parades during a military parade marking the ruling party congress. KCNA / AP
    A tank unit parades during a military parade marking the ruling party congress. KCNA / AP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • Pak Jong Chon, chief of the General Staff of the Korean People's Army, during a military parade celebrating the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    Pak Jong Chon, chief of the General Staff of the Korean People's Army, during a military parade celebrating the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • Ri Pyong Chol, left, vice-chairman of the Central Military Commission of the WPK, and Pak Jong Chon, chief of the General Staff of the Korean People's Army, during a military parade celebrating the 8th Congress of the Workers' Party of Korea in Pyongyang. KCNA / AFP
    Ri Pyong Chol, left, vice-chairman of the Central Military Commission of the WPK, and Pak Jong Chon, chief of the General Staff of the Korean People's Army, during a military parade celebrating the 8th Congress of the Workers' Party of Korea in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • North Korean soldiers greet people during a military parade. KCNA / AFP
    North Korean soldiers greet people during a military parade. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    A military parade celebrates the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
  • A new type of submarine-launched ballistic missiles (SLBM) is seen during a military parade. KCNA / EPA
    A new type of submarine-launched ballistic missiles (SLBM) is seen during a military parade. KCNA / EPA
  • Soldiers participate at the military parade held to mark the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / EPA
    Soldiers participate at the military parade held to mark the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / EPA
  • Soldiers raise their national flag during a military parade celebrating the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP
    Soldiers raise their national flag during a military parade celebrating the 8th Congress of the Workers' Party of Korea (WPK) in Pyongyang. KCNA / AFP

Speaking before the news emerged, Mr Wang hoped that all countries would help “peace and stability on the Korean Peninsula”, Yonhap news agency reported.

“For example, not only the North, but also other countries are engaging in military activities.

“Having said this, we all have to work together towards the resumption of dialogue.”

North Korea is under international sanctions for its nuclear weapons and ballistic missile programmes, which it says is necessary to defend itself against a US invasion.

Talks with the US have been stalled since the collapse of a 2019 summit in Hanoi between North Korean leader Kim Jong-un and then-president Donald Trump over sanctions relief – and what Pyongyang would be willing to give up in return.

Mr Kim did not visit China for more than six years after inheriting power from his father and predecessor Kim Jong Il in 2011, and tension mounted in the allies' relationship.

But subsequently, he and Chinese President Xi Jinping met several times, and Beijing considers the North very much part of its sphere of influence.

Yang Soo-jin, a professor at the University of North Korean Studies in Seoul, said Wednesday's launch “looks like North Korea's indirect message and even request to Beijing for the Korean peninsula to be addressed as a central agenda issue for China".

“At the same time, Pyongyang seems to be claiming and stressing that North Korea is taking the lead in the Korean peninsula issue,” he said.

Wednesday's launch came days after the North's official Korean Central News Agency reported that it had test-fired a new “long-range cruise missile” at the weekend, calling it a “strategic weapon of great significance".

Pictures in the Rodong Sinmun newspaper on Monday showed a missile exiting one of five tubes on a launch vehicle in a ball of flame, and a missile in horizontal flight.

Such a weapon would represent a marked advance in North Korea's weapons technology, analysts said, better able to avoid defence systems to deliver a warhead across the South or Japan – both of them US allies.

The missiles fired at the weekend travelled 1,500-kilometres, on two-hour flight paths – including figure-of-eight patterns – above North Korea and its territorial waters to hit their targets, according to KCNA.

Pyongyang is not banned from developing cruise missiles, which it has tested previously.

The North's weapons programmes have made rapid progress under Mr Kim, but it has not carried out a nuclear test or an inter-continental ballistic missile launch since 2017.

The US, Japanese and South Korean envoys on the North met in Tokyo earlier this week. “We hope that the DPRK will respond positively to our multiple offers to meet without preconditions,” Washington's representative Sung Yong-kim said at the time.

The US, he said, was willing to “address areas of humanitarian concerns regardless of progress on denuclearisation”, in keeping with international standards for access and monitoring.

South Korea fires missile

South Korea successfully test-fired a submarine-launched ballistic missile on Wednesday, becoming only the seventh country in the world with the advanced technology, reported AFP.

A missile was fired underwater from the newly commissioned submarine Ahn Chang-ho and flew the planned distance before hitting its target, the presidential Blue House said.

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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Sanchez's club career

2005-2006: Cobreloa

2006-2011 Udinese

2006-2007 Colo-Colo (on loan)

2007-2008 River Plate (on loan)

2011-2014 Barcelona

2014–Present Arsenal

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

FA Cup quarter-final draw

The matches will be played across the weekend of 21 and 22 March

Sheffield United v Arsenal

Newcastle v Manchester City

Norwich v Derby/Manchester United

Leicester City v Chelsea

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
All about the Sevens

Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales

HSBC World Sevens Series standing after first leg in Dubai 1 South Africa; 2 New Zealand; 3 England; 4 Fiji; 5 Australia; 6 Samoa; 7 Kenya; 8 Scotland; 9 France; 10 Spain; 11 Argentina; 12 Canada; 13 Wales; 14 Uganda; 15 United States; 16 Russia

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Result

Crystal Palace 0 Manchester City 2

Man City: Jesus (39), David Silva (41)

War and the virus
Brief scores:

Toss: Nepal, chose to field

UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23

Nepal 132-7: Jora 53 not out; Zahoor 2-17

Result: UAE won by 21 runs

Series: UAE lead 1-0

RESULTS

Main card

Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision

Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision

Lightweight 60kg:  Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3

Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision

Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision

Light heavyweight 81.4kg:  Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
Results:

5pm: Abu Dhabi Fillies Classic (PA) Prestige Dh 110,000 1.400m | Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm: Abu Dhabi Colts Classic (PA) Prestige Dh 110,000 1,400m | Winner: AF Saab, Antonio Fresu, Ernst Oertel

6pm: Maiden (PA) Dh 80,000 1,600m | Winner: Majd Al Gharbia, Saif Al Balushi, Ridha ben Attia

6.30pm: Abu Dhabi Championship (PA) Listed Dh 180,000 1,600m | Winner: RB Money To Burn, Pat Cosgrave, Eric Lemartinel

7pm: Wathba Stallions Cup (PA) Handicap Dh 70,000 2,200m | Winner: AF Kafu, Tadhg O’Shea, Ernst Oertel

7.30pm: Handicap (PA) Dh 100,000 2,400m | Winner: Brass Ring, Fabrice Veron, Ismail Mohammed

Ad Astra

Director: James Gray

Stars: Brad Pitt, Tommy Lee Jones

Five out of five stars 

UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • 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
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix

GP3 qualifying, 10:15am

Formula 2, practice 11:30am

Formula 1, first practice, 1pm

GP3 qualifying session, 3.10pm

Formula 1 second practice, 5pm

Formula 2 qualifying, 7pm

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDavid%20Lowery%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Alexander%20Molony%2C%20Ever%20Anderson%2C%20Joshua%20Pickering%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
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Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

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Updated: September 15, 2021, 7:59 AM