Powerful sister of North Korean leader Kim rejects South Korea's appeasement overture
Kim Yo Jong's comments suggest again that North Korea, now preoccupied with its expanding cooperation with Russia, has no intentions of returning to diplomacy with South Korea and the U.S. anytime soon. But experts said North Korea could change its course if it thinks it cannot maintain the same booming ties with Russia when the Russia-Ukraine war nears an end.
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Business Insider
2 minutes ago
- Business Insider
A Russian airline that used to ferry passengers to Europe is now flying to North Korea instead
Nordwind Airlines, a Russian carrier that previously serviced routes to Europe, is now flying its country's first direct flight from Moscow to Pyongyang in decades. The new eight-hour Boeing 777 flight, which launched on Sunday, comes as Russia and North Korea have rapidly strengthened ties amid the war in Ukraine. State media outlet TASS reported that Russian authorities gave Nordwind permission in early July to fly to North Korea, and that the airline is expected to run flights once a month to Pyongyang. Russia's transport ministry said in a Sunday statement that the new route was a first for Moscow in 77 years. "For the first time in more than 70 years of diplomatic relations, we are launching direct flights between the capitals of our countries," Vladimir Poteshkin, Russia's deputy transport minister, was quoted as saying in the statement. Nordwind previously operated dozens of international routes, including to Spain, Germany, the Maldives, Mexico, and Thailand. But almost all have been shut down as Russia's international relations broke down after its full-scale invasion of Ukraine. The European Union bans Russian flights, while many Russian airlines have also closed their international operations. Nordwind, which lists a fleet of Boeing and Airbus planes on its website, has been mostly operating domestic routes in the meantime. Its first flight to North Korea left Moscow at 7:25 p.m. on Sunday and arrived in Pyongyang at 3:30 a.m., according to the Moscow Sheremetyevo International Airport's flight tracker. A return flight is scheduled for Tuesday. TASS reported that both flights, with tickets costing about $550, were fully booked. While this is the first 21st-century flight between both capitals, Russians could already fly to North Korea before this. A North Korean airline, Air Koryo, operates flights from Pyongyang to Vladivostok, a Russian city on the Sea of Japan that's roughly 80 miles from North Korea. The newest flight is a further sign of rapport between Russia and North Korea, the latter of which has been supplying the Kremlin with troops, weapons, and ammunition to maintain its offensive pace in Ukraine. The partnership is sparking deep concern in the West and South Korea, which fear the arrangement is bolstering the technical expertise and resources of North Korea's military. Nordwind's cross-capital flight also comes as North Korean leader Kim Jong Un has pushed hard to reopen his country to international tourism after the COVID-19 pandemic. In May, he unveiled a massive beachfront resort that appeared to feature hotels, apartments, shopping malls, and a water park.
Yahoo
30 minutes ago
- Yahoo
Asian shares are mixed after Wall Street sets more records for US stocks
BANGKOK (AP) — Stock markets in Asia were mixed on Monday after U.S. stocks rose to more records as they closed out another winning week. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the U.S. The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and U.S. President Donald Trump, especially the $550 billion pledge of investment in the U.S. by Japan, will entail. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan's Taiex rose 0.3%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi was little changed at 3,195.49, while Australia's S&P/ASX 200 rose 0.3% to 8,688.40. India's Sensex slipped 0.1%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel. The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758.
New York Times
32 minutes ago
- New York Times
U.S. Diplomats Will Join Thailand-Cambodia Cease-Fire Talks, Rubio Says
Secretary of State Marco Rubio said American diplomats were in Malaysia on Monday to help broker a cease-fire between Cambodia and Thailand, which are engaged in a deadly conflict along the countries' border. The leaders of Cambodia and Thailand agreed on Sunday to begin cease-fire talks in Malaysia's capital, Kuala Lumpur. President Trump said he had spoken to both leaders and that U.S. officials would not negotiate trade deals with either country unless the fighting stopped. At least 35 people have been killed since the combat began on Thursday, and hundreds of thousands of civilians have fled the border areas where it is taking place. Fighting apparently continued early Monday, with the sound of explosions heard near the border before dawn. The conflict flared after two months of tension over contested territory. As of Monday, the death toll exceeded that from the last outbreak of deadly battles in the region, between 2008 and 2011, during which 34 people were killed, according to an academic paper. Some Cambodians have fled to the homes of family members and friends here in Siem Reap, the site of the ancient Angkor Wat temple complex. Siem Reap has been untouched by the violence, but at Hindu and Buddhist shrines around Angkor Wat, people have held ceremonies to pray for a quick resolution to the war. On Sunday, after Mr. Trump announced his diplomatic intervention, residents began talking in hopeful terms of an American role in prodding the warring governments toward a cease-fire. Want all of The Times? Subscribe.
