The South Korean government says it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil. Grace Lee reports. Continue reading
DARWIN, AUSTRALIA (OCTOBER 8, 2017) (BRIDGESTONE WORLD SOLAR CHALLENGE) – The World Solar Challenge began on Sunday (October 8) with nearly 40 solar cars crossing Australia’s tropical north to its southern shores, a gruelling 3,000 km (1,864 mile) race through the outback. Continue reading
Two women, accused of murdering North Korean leader Kim Jong Un’s estranged half-brother, plead not guilty as their case begins at a court in Malaysia. Graham Mackay reports. Continue reading
SEOUL, SOUTH KOREA (SEPTEMBER 12, 2017) (REUTERS) – Pre-orders for Samsung Electronics Co Ltd’s latest premium smartphone Galaxy Note 8 are the highest-ever for the Note series, the tech giant’s mobile chief Koh Dong-jin said on Tuesday (September 12). Continue reading
YONGBYON, NORTH KOREA (KRT) – Tensions on the Korean peninsular were heightened ever further on Sunday (September 3) after North Korea said it had conducted its sixth and most powerful nuclear test, which it said was an advanced hydrogen bomb for a long-range missile.
SEOUL, SOUTH KOREA (SEPTEMBER 3, 2017) (REUTERS) – South Korea’s Meteorological agency said on Sunday (September 3) North Korea’s earthquake produced 5 to 6 times more energy compared to fifth nuclear test in September 2016. Continue reading
North Korea says its carried out its sixth nuclear test, this time using a newly built hydrogen bomb. The blast is the most powerful to date and caused a significant earthquake. Joel Labi reports Continue reading
Togo hosted an annual conference on the African Growth and Opportunities Act (AGOA) this week, bringing together various stakeholders from African nations and the United States. In 2015, the US Congress renewed the zero tariff deal for 10 years. Analysts have questioned how the programme will fare under U.S president Donald Trump’s presidency, given his “America First” campaign, that has seen him withdraw from various international trade deals.
SHOWS: LOME, TOGO (AUGUST 09, 2017) (REUTERS) – Talks between African and U.S. officials to review the African Growth and Opportunity Act (AGOA) free trade deal ended on Thursday (August 10) with no decision and a feeling of all sides that it had achieved little since it was set up.
President Donald Trump’s top trade negotiator Robert E. Lighthizer and other U.S. officials have been in the tiny West African nation of Togo over the past two days to discuss the Clinton-era trade pact with sub-Saharan Africa.
Trump’s “America First” campaign has seen him withdraw from the Trans Pacific Partnership, threated to tear up the North American Free Trade Agreement (NAFTA) and seek to renegotiate the U.S.-South Korea free trade deal.
But his administration has said little about Africa, and had not previously mentioned the 2000 AGOA trade agreement. It is not clear whether the U.S. wants to change the deal before it expires in 2025 or extend it further – no decision was made on either count.
AGOA allows tariff-free access for thousands of goods from 38 African nations to U.S. markets.
But few African economies can take advantage of a U.S. trade initiative providing to the world’s largest market because they have little to export beyond commodities, an asset class where prices are in free fall.
Togo’s minister of commerce Bernadette Legzim-Balouki said that although not all the countries eligible have benefited from the law, the agreement allowed Africa to access the US market and that member countries will examine the constraints that prevent some African countries from profiting.
“2025 was the year that the AGOA agreement will officially came to an end. If the United States decides not to extend the agreement, does that mean that our trade relationship with the U.S must also come to an end? Not at all! African entrepreneurs and other stakeholders were able to have access to the US market. They have straightened their partnerships with economic partners in the U.S. A door has been opened, a relationship was established between the US and African countries,” she said.
Legzim-Balouki also said that the United States and the nations eligible for AGOA had agreed on some loose aims, including: to develop a better plan to take full advantage of the pact, for each eligible country to have bilateral talks with the United States, and the need for a mechanism to protect African producers from price volatility.
US officials at the forum said that the number of countries benefiting from AGOA was very limited, as is the number of sectors, adding that they will see if the situation improves in the coming years, but it is also up to the beneficiary countries to enhance their business climate.
“The AGOA programme was renewed for ten years by congress by a large margin. That means that we have 8 years of the law in place. It’s true that the environment has changed, and we are currently studying the best ways for African countries to benefit from AGOA,” said Peter Barlerin a representative of the US state department.
The U.S. trade deficit with the AGOA countries shrank to about $7.9 billion last year from a peak of $64 billion in 2008, as U.S. shale oil production increases have lessened the need for oil imports from major exporters Nigeria and Angola.
PYONGYANG, NORTH KOREA (JULY 4, 2017) (KRT) – North Korea said on Tuesday (July 4) it successfully test-launched an intercontinental ballistic missile (ICBM), which flew a trajectory that an expert said could allow a weapon to hit the U.S. state of Alaska.
PYONGYANG, NORTH KOREA (JULY 4, 2017) (KCNA FOR REUTERS) – A conference was held in Pyongyang on Tuesday (July 4) to mark the 45th anniversary of a joint statement signed between North and South Korea on July 4th.