
Russia soon to begin to build road bridge to North Korea
The bridge was agreed during a visit by President Vladimir Putin to North Korea in 2024 when the two countries signed a comprehensive strategic partnership agreement.
The road bridge will be built near the existing "Friendship Bridge" rail bridge which was commissioned in 1959 after the Korean war. An ancient wooden bridge used to cross the border in the early 20th century but it was destroyed, according to Russian media.
"The construction of the bridge has not yet begun," Alexander Matsegora, Russia's ambassador to North Korea, told RIA.
"The parties are carrying out preparatory work, finalising design documentation, forming construction crews and columns of equipment," he said.
The road bridge, which has been under discussion for years, will be 850 metres (2789 ft) and link up with the Russian highway system.
South Korean satellite imagery analysis firm SI Analytics said in a March 5 report that work on the bridge's foundations and road links appeared to have begun.
"With the rapid construction of this bridge following the existing rail link, the only passage between North Korea and Russia, a sharp increase in economic, social, and military exchanges is anticipated," the report said.
"This could potentially lead to a gradual erosion of the effectiveness of international sanctions against North Korea and Russia."
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
13 minutes ago
- Reuters
Walmart's Mexico unit wipes $3.3 billion off market value after weak Q2 margins
MEXICO CITY, July 17 (Reuters) - Shares in Walmart's Mexico and Central America unit, known as Walmex ( opens new tab, slid 6% on Thursday morning, wiping off 60.9 billion pesos ($3.25 billion) from the firm's market capitalization after posting weaker-than-expected margins. Walmex on Wednesday posted an earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 9.5%, 81 basis points below the year-ago quarter and the lowest since the same quarter in 2020. ($1 = 18.7527 Mexican pesos)


Reuters
13 minutes ago
- Reuters
Equities and dollar rise with encouragement from economic data and earnings reports
NEW YORK/LONDON, July 17 (Reuters) - MSCI's global equity index was advancing on Thursday while the dollar rose as investors were encouraged by the latest crop of economic data and earnings reports. Data on jobless claims showed that the number of Americans filing new applications for unemployment benefits fell last week, pointing to steady job growth so far in July, though some laid off workers are experiencing long spells of unemployment because of a moderation in hiring. U.S. retail sales rebounded more than expected in June, but some of the increase likely reflected higher prices for some goods exposed to tariffs. "In economic data two key releases came out today: retail sales and jobless claims. Both were better than anticipated," said Mike Cornacchioli, investment strategy director and senior vice president at Citizens Private Wealth. "Those two illustrate the strength of the consumer and the labor market. So, a lot of the fears that were placed on the state of the U.S. economy are overblown and have failed to come to fruition at this point in time. Maybe they will some time down the line, but this data and the data that's come in lately has just reinforced the strength of the US economy." Cornacchioli also pointed to strong earnings reports as a boost for equities on Thursday. Taiwan Semiconductor Manufacturing , the world's main maker of advanced AI chips, posted record profits ahead of expectations. It warned that future income might be hit by U.S. tariffs, though perhaps not until the fourth quarter. Also, GE Aerospace lifted its profit outlook with jet engine deliveries rising as efforts to fix supply constraints showed results. MSCI's gauge of stocks across the globe (.MIWD00000PUS), opens new tab rose 3.86 points, or 0.42%, to 924.97. Europe's STOXX 600 (.STOXX), opens new tab index rose 0.92%, boosted by strong earnings after record orders at Swiss engineering firm ABB and record $13.5 billion profits. And Wall Street followed Europe higher but at a more modest pace. At 11:17 a.m. the Dow Jones Industrial Average (.DJI), opens new tab rose 72.83 points, or 0.16%, to 44,327.61, the S&P 500 (.SPX), opens new tab rose 20.73 points, or 0.33%, to 6,284.32 and the Nasdaq Composite (.IXIC), opens new tab rose 142.41 points, or 0.69%, to 20,872.92. Thursday's gains follow a dramatic wobble during the prior session when Trump said he was highly unlikely to fire Federal Reserve chair Jerome Powell. However he left the door open to the possibility of ousting him and renewed his criticism of the central bank chief for not cutting U.S. interest rates. In currencies, the dollar rose on Thursday after the economic data. Against the Japanese yen , the dollar strengthened 0.47% to 148.56 as polls showed Prime Minister Shigeru Ishiba's coalition was in danger of losing its majority in the upper house in upcoming elections. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.37% to 98.71. The euro was down 0.4% at $1.1587. U.S. Treasury yields edged lower after briefly spiking following the economic data which showed the world's largest economy on a stable footing and supported the Fed's patient stance on monetary easing. The yield on benchmark U.S. 10-year notes fell 1.2 basis points to 4.443%, from 4.455% late on Wednesday while the 30-year bond yield fell 2.4 basis points to 4.9905% from 5.015%. However, the 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 2.4 basis points to 3.909%, from 3.885% late on Wednesday. In commodity markets, oil prices rose even as global trade tensions appeared to cool, with analysts pointing to low inventories and renewed Middle East risks as factors supporting the market. U.S. crude rose 1.18% to $67.16 a barrel and Brent rose to $68.99 per barrel, up 0.69% on the day. Gold prices were lower after the upbeat U.S. economic data aided the Fed's cautious stance on rate cuts. Spot gold fell 0.42% to $3,332.19 an ounce. U.S. gold futures fell 0.63% to $3,331.40 an ounce.


Reuters
13 minutes ago
- Reuters
Israel strikes Gaza Catholic church, killing three
GAZA CITY, July 17 (Reuters) - An Israeli strike on Gaza's sole Catholic Church killed three people and injured several others, the Latin Patriarchate of Jerusalem, which oversees the small parish, said on Thursday. The Patriarchate condemned "this targeting of innocent civilians and of a sacred place," saying two women and one man had died in the attack on the Holy Family Church. "This horrific war must come to a complete end," it said, adding that the victims had turned to the church compound as a safe haven "after their homes, possessions, and dignity had already been stripped away." The Holy Family Church spoke in a separate statement of "a number of injured, some in critical condition." In a telegram for the victims, Pope Leo said he was "deeply saddened" and called for "an immediate ceasefire." The pope expressed his "profound hope for dialogue, reconciliation and enduring peace in the region," according to the telegram which was signed by the Vatican Secretary of State Cardinal Pietro Parolin and made no mention of Israel. The Israeli military said it was looking into the incident. Israel's foreign ministry said in a statement on X that the results of the investigation would be published. It also said the country did not target churches or religious sites and regretted harm to them or civilians. The Patriarchate earlier said the parish priest, Father Gabriel Romanelli, was among those injured, and his church had sustained damage. Father Romanelli, an Argentine, used to regularly update the late Pope Francis about the Israeli-Palestinian conflict via calls and messages. TV footage showed him sitting receiving treatment at Al-Ahly Hospital in Gaza, with a bandage around his lower right leg. Italian Prime Minister Giorgia Meloni blamed Israel for the strike on the religious compound. "The attacks against the civilian population that Israel has been carrying out for months are unacceptable. No military action can justify such an attitude," she said in a statement.