Connect with us

Government

North Korea Preparing to Launch Satellite

Published

on

communication-satellite
  • North Korea Preparing to Launch Satellite

North Korea is preparing to launch a satellite, a Seoul newspaper said Tuesday, as outside observers warn that the nuclear-armed regime’s space programme is a fig leaf for weapons tests.

Pyongyang is under multiple UN sanctions over its nuclear and missile tests and is prohibited from carrying out any launch using ballistic missile technology including satellites.

“Through various channels, we’ve recently learned that the North has completed a new satellite and named it Kwangmyongsong-5”, the Joongang Ilbo daily reported, quoting a South Korean government source.

“Their plan is to put a satellite equipped with cameras and telecommunication devices into orbit”, he said.

Pyongyang launched their Kwangmyongsong-4 satellite in February 2016, which most in the international community viewed as a disguised ballistic missile test.

A spokesman for the South Korean military joint chiefs of staff said there was “nothing out of ordinary at this moment” but added that Seoul was watching out for any provocative acts “including the test of a long-range missile disguised as a satellite launch”.

The report came as the North’s ruling party newspaper Rodong Sinmun reasserted the regime’s right to launch satellites and develop its space technology.

In a commentary published on Monday and titled “peaceful space programmes are sovereign countries’ legitimate rights”, the daily said Pyongyang’s satellite launches “absolutely correspond” with international laws concerning space development.

At a UN General Assembly committee meeting in October, North Korea’s deputy UN ambassador Kim In-Ryong said his country has a 2016-2020 plan to develop “practical satellites that can contribute to the economic development and improvement of the people’s living”.

He stressed North Korea’s right to produce and launch satellites “will not be changed just because the US denies it”.

North Korea is believed to have successfully put a satellite into orbit in December 2012 after years of failures dating back to 1998 when it launched a pilot satellite and named it Kwangmyongsong-1.

Earlier this month, the Russian newspaper Rossiyskaia Gazeta quoted a Russian military expert, Vladimir Khrustalev, as saying that North Korea was expected to launch two satellites — an Earth exploration satellite and a communications satellite — in the near future.

Khrustalev made the remark after returning from his week-long trip to North Korea in mid-November when he met with representatives of the country’s National Aerospace Development Administration, the Russian daily said.

Tensions have soared as the isolated regime has staged a series of atomic and intercontinental ballistic missile tests — most recently on November 29.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Government

Kaduna State Denies Taking ₦36 Billion Loan, Blames Past Administration for Debt

Published

on

Loan - Investors King

The Kaduna State Government has reacted to a viral report alleging that the state borrowed ₦36 billion over the last six months.

The government made the clarification via a statement signed by the Commissioner of Planning and Budget, Mukhtar Ahmed, who labeled the report as inaccurate and misleading.

The commissioner emphasized that no new loans have been taken under Governor Sani’s administration.

Ahmed blamed loan issues on the past administration, noting that all the loans including World Bank programs such as AGILE, SURWASH, and ACReSAL were received by the past administration in the state.

The government stated that the current naira exchange rate to the dollar, which is over ₦1,600 has affected the repayment of these loans as its value has increased.

This means that Governor Sani’s administration is repaying nearly three times the amount of loans acquired by the previous administration, all thanks to the significant devaluation of the Naira.

“The inherited debt burden from the previous administration consisted of long-term loans. These loan commitments, including World Bank programs such as AGILE, SURWASH, and ACReSAL, were all agreed upon during the previous administration,” the statement noted.

“Previous administration’s loan agreements, based on exchange rates of ₦415-₦480 to the dollar, have now seen the Naira plunge to over ₦1,600 to the dollar, effectively tripling the value of these debts in local currency,” he noted.

The Commissioner frowned bitterly at the online platform for not seeking clarification prior to the publication of the report.

However, he echoed the government’s commitment to transparency in debt management and financial discipline, adding that the state government will not spare those responsible for mismanaging the state’s resources.

“Notwithstanding the erroneous reporting, the government is resolute in its dedication to transparency in debt management and financial discipline, prioritizing the enhancement of the state’s economy without imposing additional financial burdens.

“The state government reaffirmed its resolve to hold accountable those responsible for mismanaging the state’s resources, vowing to reposition Kaduna for the benefit of its citizens,” the Commissioner added.

Continue Reading

Government

FG to Evacuate Nigerians in Lebanon as  Iran Threatens to Fire More Missiles at Israel

Published

on

The Federal Government is set to evacuate Nigerians living in Lebanon amid the tension between Iran and Israel.

Investors King had reported that Iran’s Military launched 180 missiles at Israel on Tuesday, killing no fewer than eight Israelites and injuring scores of other citizens.

Responding to the tension, Nigerian government directed its citizens living in Lebanon to contact the country’s diplomatic officers and envoys in the Middle-East country for immediate evacuation.

The Special Assistant to the Nigerian President on Social Media, Dada Olusegun, through his X handle, @DOlusegun, alerted all Nigerians in Lebanon to the attacks and asked them to get in touch with the Nigerian mission for profiling and documentation and subsequent evacuation.

Similarly, the Nigerians in Diaspora Commission (NIDCOM) advised Nigerians living in Lebanon to consider moving out of the country now that commercial flights are still in operation.

Nigerians are also urged to liase with the Nigerian Embassy in Lebanon for necessary guidance regarding their safety.

This was made known via a statement by Director of Media, Public Relations and Protocols Unit, NiDCOM, Abdur-Rahman Balogun, on Wednesday.

Meanwhile, Iran authorities have explained the reason for attacking Israel, saying that the barrage of missiles was in response to the killings of Iran-backed militant leaders, sending Israelis to shelters and prompting alarm across the region.

Reports have it that the Israel Defence Forces said it intercepted the 180 ballistic missiles launched by Iran at Israel on Tuesday evening.

Iranian government has threatened to launch more fierce missiles against Israel if it retaliates the Tuesday attack.

According to the Iranian mission to the United Nations in a message on its X account, “Iran’s legal, rational, and legitimate response to the terrorist acts of the Zionist regime—which involved targeting Iranian nationals and interests and infringing upon the national sovereignty of the Islamic Republic of Iran—has been duly carried out.

Nigerian government said the evacuation of its citizens is necessary following the Israeli government’s warning to residents of 24 more villages in southern Lebanon to evacuate amid increasing tensions.

It was reported that the villages fall within a United Nations buffer zone, created after the 2006 war between Israel and Hezbollah.

Continue Reading

Government

Eight Killed, Several Injured as Iran Launches Missiles Towards Israel 

Published

on

No fewer than eight people have lost their lives in a devastating terror attack in Israel.

Israel’s national emergency medical service, Magen David Adom, confirmed that the attack occurred on Tuesday.

The service reported that several others were injured after missiles were fired in Jaffa, south of Tel Aviv.

The two terrorists who carried out the attack were “neutralized,” according to police.

Medics are currently treating several casualties, including unconscious victims.

Reports indicate that emergency services are responding to a shooting incident on Jerusalem (Quds) Street in Jaffa, near a light rail station.

Magen David Adom ambulance service confirmed that multiple people were injured in what appears to be an attack.

Earlier, the President of the United States, Joe Biden, stated that he had convened a national security team, alongside the Vice President, to discuss Iranian plans to launch an imminent missile attack against Israel.

“We discussed how the United States is prepared to help Israel defend against these attacks and protect American personnel in the region,” Biden said.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending