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North Korea fires two 'ballistic missiles' into sea

North Korea fired what appeared to be two short-range ballistic missiles off its east coast on Saturday, the latest in a series of such launches by Pyongyang as the world struggles with the coronavirus pandemic.
The South Korean military condemned the launches as "extremely inappropriate given the difficult situation the world is experiencing due to COVID-19... We urge them to stop immediately."
North Korea has not reported any cases of the coronavirus, which has turned into a major crisis with more than 11,000 deaths and over 250,000 infections worldwide.
There has been widespread speculation, however, that the virus has reached the isolated nation, and health experts have warned that it could devastate the country given its weak medical infrastructure and widespread malnutrition.
Japan's defence ministry also confirmed the North Korean launches.
For decades, North Korea's leadership has faced international criticism for prioritising spending on its military and nuclear weapons programme instead of providing for the population -- even during times of famine.
Pyongyang considers its military development necessary for security in the face of what it describes as American aggression. North Korea is under multiple sets of punishing sanctions over its nuclear and missile programmes.
Hopes for a thaw after meetings between North Korean leader Kim Jong Un and US President Donald Trump were dented as they failed to produce any substantial progress on denuclearising the Korean peninsula, and Pyongyang has since continued to refine its military capabilities, analysts say.
With the latest launch Pyongyang "continues an international strategy of trying to normalise its missile tests", Leif-Eric Easley, a professor at Ewha University in Seoul, told AFP.
Shortly before the launch, North Korea's official news agency KCNA reported that the rubber-stamp parliament, the Supreme People's Assembly, would convene on April 10.
The event would involve gathering nearly 700 officials in one place, analysts said. Such events have been banned in many parts of the world to curb the spread of the coronavirus.
"North Korea would not risk holding such a large-scale national political event if the regime was not confident about preventing or containing the spread of the virus," Rachel Minyoung Lee, a senior analyst at specialist website NK News, told AFP.
Earlier this month, Kim Jong Un sent a letter to South Korean President Moon Jae-in offering "comfort" as Seoul battled what was the worst outbreak of the virus outside China at the time.
South Korea has since largely brought the contagion under control.
KCNA said Saturday Kim oversaw an "artillery fire competition" among combined units of the army on Friday, releasing photos of him along with military officers -- none of them wearing face masks.
But despite North Korea's decision to go ahead with its parliament session, Pyongyang's "draconian restrictions on movement, mask-wearing propaganda, public punishment of 'corrupt' elites violating quarantine efforts, and rush to build medical facilities suggest COVID-19 has penetrated the country," Ewha University's Easley said.
"Pyongyang is likely struggling with a coronavirus crisis on a national scale."
With fears swirling about an outbreak in North Korea, the UN's special rapporteur on human rights Tomas Ojea Quintana earlier this month called for Pyongyang to provide access to outside medical experts and humanitarian assistance.
The UN Security Council said last month that it would make humanitarian exemptions to sanctions on North Korea to help it fight the coronavirus.
source: AFP
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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