North Korean leader Kim Jong Un, seen meeting troops who took part in the country's 90th anniversary military parade, has vowed to speed up development of the country's nuclear arsenal. KCNA/Reuters
North Korean leader Kim Jong Un, seen meeting troops who took part in the country's 90th anniversary military parade, has vowed to speed up development of the country's nuclear arsenal. KCNA/Reuters
North Korean leader Kim Jong Un, seen meeting troops who took part in the country's 90th anniversary military parade, has vowed to speed up development of the country's nuclear arsenal. KCNA/Reuters
North Korean leader Kim Jong Un, seen meeting troops who took part in the country's 90th anniversary military parade, has vowed to speed up development of the country's nuclear arsenal. KCNA/Reuters

North Korea fires 'missile' towards sea as US urges vote on sanctions


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North Korea has fired a projectile towards the sea off its east coast, South Korea's military said, with Japan claiming it could have been a ballistic missile.

It comes as the US urged the UN Security Council to vote on further sanctions over North Korea's missile launches.

The country's 14th major weapons test this year took place days after North Korea vowed to speed up development of its nuclear arsenal.

It also took place days before South Korea's newly elected President Yoon Suk-yeol takes office on May 10.

Details of the projectile, including its flight range and altitude, were not immediately available. Japan's Coast Guard said it could be a ballistic missile.

Last week, North Korean leader Kim Jong Un pledged to speed up the development of his country's nuclear arsenal while overseeing a huge military parade as denuclearisation talks with the United States remain stalled.

The US would like the UN Security Council to vote this month to further sanction North Korea over its renewed ballistic missile launches, US Ambassador to the UN Linda Thomas-Greenfield said on Tuesday, Reuters reported.

The US circulated an initial draft resolution to the 15-member council last month that proposed banning tobacco and halving oil exports to North Korea, and blacklisting the Lazarus hacking group.

North Korea's 90th anniversary military parade - in pictures

  • North Korean leader Kim Jong-un and his wife Ri Sol-ju at a military parade in Pyongyang to mark 90 years since North Korea's army was established. AP
    North Korean leader Kim Jong-un and his wife Ri Sol-ju at a military parade in Pyongyang to mark 90 years since North Korea's army was established. AP
  • A Pukguksong-5 missile displayed at the parade. EPA
    A Pukguksong-5 missile displayed at the parade. EPA
  • A KN-18 missile at the parade to mark the 90th anniversary of the Korean People's Revolutionary Army. EPA
    A KN-18 missile at the parade to mark the 90th anniversary of the Korean People's Revolutionary Army. EPA
  • KN-24 missiles on parade. EPA
    KN-24 missiles on parade. EPA
  • Mr Kim and his wife review a guard of honour. AP
    Mr Kim and his wife review a guard of honour. AP
  • Vehicles carrying missiles at the parade. Reuters
    Vehicles carrying missiles at the parade. Reuters
  • Columns of soldiers march at the event. EPA
    Columns of soldiers march at the event. EPA
  • Troops on parade as the national flag flutters in Pyongyang. EPA
    Troops on parade as the national flag flutters in Pyongyang. EPA
  • A smiling Mr Kim, centre, presides over the event. EPA
    A smiling Mr Kim, centre, presides over the event. EPA
  • A military flyover at the Pyongyang parade. EPA
    A military flyover at the Pyongyang parade. EPA
  • Troops in armoured vehicles take part. Reuters
    Troops in armoured vehicles take part. Reuters
  • Soldiers and armoured vehicles on display. Reuters
    Soldiers and armoured vehicles on display. Reuters
  • Vehicles with multiple rocket launchers are paraded for the crowds. Reuters
    Vehicles with multiple rocket launchers are paraded for the crowds. Reuters
  • Mr Kim waves from a balcony. AP
    Mr Kim waves from a balcony. AP

However, Russia and China have already signalled opposition to boosting sanctions in response to Pyongyang's March launch of an intercontinental ballistic missile — its first since 2017. A Security Council resolution needs nine "yes" votes to pass, without a veto by Russia, China, France, Britain or the US.

"It is our plan to move forward with that resolution during this month," Ms Thomas-Greenfield told reporters when asked if she would put it to a vote. The US is president of the Security Council for May.

"We're very concerned about the situation," she said. "It is our hope that we can keep the council unified in condemning those actions by the DPRK (North Korea)."

North Korea has been subjected to UN sanctions since 2006, which the Security Council has steadily stepped up over the years in a bid to cut off funding for Pyongyang's nuclear weapons and ballistic missile programmes.

But the Asian state has successfully worked to evade some sanctions, according to independent monitors who reported in February that North Korean cyberattacks on cryptocurrency exchanges were earning Pyongyang hundreds of millions of dollars.

Champions parade (UAE timings)

7pm Gates open

8pm Deansgate stage showing starts

9pm Parade starts at Manchester Cathedral

9.45pm Parade ends at Peter Street

10pm City players on stage

11pm event ends

Match info

Costa Rica 0

Serbia 1
Kolarov (56')

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Fixtures

Wednesday

4.15pm: Japan v Spain (Group A)

5.30pm: UAE v Italy (Group A)

6.45pm: Russia v Mexico (Group B)

8pm: Iran v Egypt (Group B)

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Results
%3Cp%3EStage%204%3A%0D%3Cbr%3E1.%20Juan%20Sebastian%20Molano%20(COL)%20Team%20UAE%20Emirates%20%E2%80%93%203hrs%2050min%2001sec%0D%3Cbr%3E2.%20Olav%20Kooij%20(NED)%20Jumbo-Visma%20%E2%80%93%20ST%0D%3Cbr%3E3.%20Sam%20Welsford%20(AUS)%20Team%20DSM)%20%E2%80%93%20ST%0D%3Cbr%3EGeneral%20Classification%3A%0D%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%0D%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders%20%E2%80%93%207%E2%80%B3%0D%3Cbr%3E3.%20Pello%20Bilbao%20(ESP)%20Bahrain%20Victorious%20%E2%80%93%2011%E2%80%B3%3C%2Fp%3E%0A
Saturday's schedule at the Abu Dhabi Grand Prix

GP3 race, 12:30pm

Formula 1 final practice, 2pm

Formula 1 qualifying, 5pm

Formula 2 race, 6:40pm

Performance: Sam Smith

How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

RACE CARD

6.30pm: Maiden (TB) Dh82,500 (Dirt) 1,200m

7.05pm: Maiden (TB) Dh82,500 (D) 1,900m

7.40pm: Handicap (TB) Dh102,500 (D) 2,000m

8.15pm: Conditions (TB) Dh120,000 (D) 1,600m

8.50pm: Handicap (TB) Dh95,000 (D) 1,600m

9.25pm: Handicap (TB) Dh87,500 (D) 1,400m

UAE currency: the story behind the money in your pockets
UAE SQUAD

Khalid Essa, Ali Khaseif, Fahad Al Dhanhani, Adel Al Hosani, Bandar Al Ahbabi, Mohammad Barghash, Salem Rashid, Khalifa Al Hammadi, Shaheen Abdulrahman, Hassan Al Mahrami, Walid Abbas, Mahmoud Khamis, Yousef Jaber, Majed Sorour, Majed Hassan, Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Khalil Al Hammadi, Fabio De Lima, Khalfan Mubarak, Tahnoon Al Zaabi, Ali Saleh, Caio Canedo, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Updated: May 04, 2022, 5:44 AM