• North Korean leader Kim Jong-un celebrating the test-firing of a 'newly developed super-large multiple rocket launcher' at an undisclosed location. AFP
    North Korean leader Kim Jong-un celebrating the test-firing of a 'newly developed super-large multiple rocket launcher' at an undisclosed location. AFP
  • A uranium enrichment plant at North Korea's main Yongbyon nuclear complex. AP
    A uranium enrichment plant at North Korea's main Yongbyon nuclear complex. AP
  • A test missile is launched from a train in an undisclosed location of North Korea. AP
    A test missile is launched from a train in an undisclosed location of North Korea. AP
  • People in Seoul, South Korea, watch a news report on North Korea firing what appears to be a pair of ballistic missiles off its east coast. Reuters
    People in Seoul, South Korea, watch a news report on North Korea firing what appears to be a pair of ballistic missiles off its east coast. Reuters
  • A map detailing North Korea's missile launch towards the Sea of Japan, part of a news broadcast at Akihabara, Tokyo. AFP
    A map detailing North Korea's missile launch towards the Sea of Japan, part of a news broadcast at Akihabara, Tokyo. AFP
  • Kim Jong-un attending a military parade to mark the 70th anniversary of the Korean People's Army at Kim Il-sung Square in Pyongyang. AFP
    Kim Jong-un attending a military parade to mark the 70th anniversary of the Korean People's Army at Kim Il-sung Square in Pyongyang. AFP
  • Kim Jong-un is all smiles as he watches the military parade in the North Korean capital Pyongyang. AFP
    Kim Jong-un is all smiles as he watches the military parade in the North Korean capital Pyongyang. AFP
  • What appears to be submarine-launched ballistic missiles are displayed, marking the eighth Congress of the Workers' Party of Korea (WPK) in Pyongyang. AFP
    What appears to be submarine-launched ballistic missiles are displayed, marking the eighth Congress of the Workers' Party of Korea (WPK) in Pyongyang. AFP
  • Hwasong-12 ballistic at Kim Il-sung Square, Pyongyang. AFP
    Hwasong-12 ballistic at Kim Il-sung Square, Pyongyang. AFP

North Korea's suspected 'monster missile' explodes in mid-air


  • English
  • Arabic

North Korea fired a suspected ballistic missile that exploded in mid-air shortly after launch, South Korea said on Wednesday.

The failed launch was likely a test of Pyongyang's so-called "monster missile", analysts have warned.

The suspected ballistic missile "seems to have exploded in mid-air shortly after launch," Seoul's Joint Chiefs of Staff told AFP. The launch was North Korea's 10th suspected weapons test this year.

The US said the nuclear-armed country was preparing to fire an intercontinental ballistic missile [ICBM] "at full range" for the first time since 2017.

North Korea, despite international sanctions, conducted seven missile tests in January and twice launched components of what it claimed was a "reconnaissance satellite".

South Korea and the US said last week those tests were actually of a new ICBM system that has never been launched before. The Hwasong-17, dubbed a "monster missile" by analysts, was first unveiled at a parade in October 2020.

North Korean Hwasong-15 intercontinental ballistic missiles during a military parade in Pyongyang last year. AFP
North Korean Hwasong-15 intercontinental ballistic missiles during a military parade in Pyongyang last year. AFP

The launch at about 9.30am local time was from the Sunan area in Pyongyang, the same site as the February 27 and March 5 "satellite" tests.

Nuclear-armed North Korea has long coveted an ICBM that can carry multiple warheads. The US said last week the recent tests marked a "serious escalation" of the country's weapons programmes.

But the specialist NK News site reported that Wednesday's launch ended in "catastrophic failure" with a red-tinged ball of smoke zig-zagging across the sky as debris fell near the capital.

"Signs indicate the North test-fired Hwasong-17 today," Cheong Seong-chang, a senior researcher at the private Sejong Institute told AFP.

"With Russia now highly unlikely to agree to additional sanctions on the North in case of such a test-launch amid its invasion of Ukraine, Pyongyang appears to have judged it was the optimal time to proceed."

North Korean leader Kim Jong-un attends a meeting of the Workers' Party of Korea in Pyongyang, on February 28. AP
North Korean leader Kim Jong-un attends a meeting of the Workers' Party of Korea in Pyongyang, on February 28. AP

The failure of the Wednesday launch will be closely studied by Pyongyang, he said. It can take about three tests to ensure the missile is functioning.

"I expect the North to conduct one or two more test-launches before April 15," he said.

North Korea has carried out three ICBM tests, the last in November 2017 of a Hwasong-15 – deemed powerful enough to reach Washington and the rest of the continental US.

But the country has been observing a self-imposed moratorium on testing long-range and nuclear weapons since leader Kim Jong-un embarked on a high-level diplomacy drive in 2018.

The US military this week said it had "enhanced" missile defence systems in South Korea.

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

How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A

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.”

How%20champions%20are%20made
%3Cp%3E%0D%3Cstrong%3EDiet%3C%2Fstrong%3E%20%0D%3Cbr%3E7am%20-%20Protein%20shake%20with%20oats%20and%20fruits%0D%3Cbr%3E10am%20-%205-6%20egg%20whites%0D%3Cbr%3E1pm%20-%20White%20rice%20or%20chapati%20(Indian%20bread)%20with%20chicken%0D%3Cbr%3E4pm%20-%20Dry%20fruits%20%0D%3Cbr%3E7.30pm%20-%20Pre%20workout%20meal%20%E2%80%93%20grilled%20fish%20or%20chicken%20with%20veggies%20and%20fruits%0D%3Cbr%3E8.30pm%20to%20midnight%20workout%0D%3Cbr%3E12.30am%20%E2%80%93%20Protein%20shake%20%0D%3Cbr%3E%3Cstrong%3ETotal%20intake%3A%3C%2Fstrong%3E%204000-4500%20calories%20%0D%3Cbr%3E%3Cstrong%3ESaidu%E2%80%99s%20weight%3A%3C%2Fstrong%3E%20110%20kg%0D%3Cbr%3E%3Cstrong%3EStats%3A%3C%2Fstrong%3E%20Biceps%2019%20inches.%20Forearms%2018%20inches%3C%2Fp%3E%0A
Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

MATCH INFO

Everton v Tottenham, Sunday, 8.30pm (UAE)

Match is live on BeIN Sports

KEY HIGHLIGHTS

Healthcare spending to double to $2.2 trillion rupees

Launched a 641billion-rupee federal health scheme

Allotted 200 billion rupees for the recapitalisation of state-run banks

Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets

Updated: March 16, 2022, 7:51 AM