North Korea is willing to consider another summit with South Korea if mutual respect between the neighbours can be assured, state news agency KCNA said on Saturday, citing Kim Yo Jong, the sister of the North Korean leader Kim Jong-un.
South Korea welcomed the prospect on Sunday, Reuters reported. The Unification Ministry said it expected to swiftly engage in talks with Pyongyang, while urging the need to restore a hotline link between the two.
Ms Kim's comment came after the North urged the US and South Korea last week to abandon what it called their hostile policy and double standards, if formal talks are to be held on ending the 1950-53 Korean War.
North Korea's pursuit of nuclear weapons has complicated the question of a formal end to the war, which halted with an armistice, rather than a peace treaty, leaving US-led UN forces technically still at war with the North.
“I think that only when impartiality and the attitude of respecting each other are maintained, can there be a smooth understanding between the North and the South,” said Ms Kim, a confidante of her brother.
Constructive discussions offer a chance for solutions on issues such as “the re-establishment of the North-South joint liaison office and the North-South summit, to say nothing of the timely declaration of the significant termination of the war”, Ms Kim said.
Speaking on Tuesday to the UNGA, South Korean President Moon Jae-in repeated a call for a formal end to the war, but later said time was running out for such progress before his term ends in May.
North Korea has sought an end to the war for decades, but the US has been reluctant to agree, unless it gives up nuclear weapons.
In Saturday's remarks, Ms Kim said she noted with interest the intense discussion in South Korea over the renewed prospect of a formal declaration.
“I felt that the atmosphere of the South Korean public desiring to recover the inter-Korean relations from a deadlock and achieve peaceful stability as soon as possible is irresistibly strong,” she said. “We, too, have the same desire.”
On Sunday, responding to the remarks, Seoul's unification ministry said in a statement, “For these discussions, the inter-Korean communication line must first be restored swiftly, as smooth and stable communication is important.”
The hotline, maintained by South Korea's military to handle relations with Pyongyang, has not operated since August, as North Korea stopped answering calls.
Talks with the US have been stalled since 2019, when expectations had grown for a declaration on ending the war, even if not with an actual treaty, before a historic summit of former US president Donald Trump and Mr Kim in Singapore.
But that possibility, and the momentum the leaders generated over three meetings, came to nothing.
In his own UN speech, US President Joe Biden said he wanted “sustained diplomacy” to resolve the crisis over North Korea's nuclear and missile programmes.
North Korea has rejected US overtures on dialogue and the head of the UN atomic watchdog said this week its nuclear programme was going “full steam.”
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Barcelona 2
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Real Madrid 2
Ronaldo (14'), Bale (72')
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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The specs: 2018 Maserati Levante S
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Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
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- Up to 3.7 million lives could be saved annually by implementing the right health
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- The total annual economic cost of cancer is $1.16 trillion
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