“Disapproving of the June 15 Joint Declaration is an Anti-Unification Action”

first_img AvatarKim So Yeol North Korea tries to accelerate building of walls and fences along border with China News By Kim So Yeol – 2008.07.09 3:59pm Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR News Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak center_img News SHARE The North Korean Workers Party mouthpiece “Rodong Shinmun” stated on the 8th that to disapprove of the June 15 Joint Declaration or the October 4 Agreement is both anti-unification and separatist, so a struggle against such attitudes and activities must be undertaken. The editorial, “Our fatherland will thrive according to the great Supreme Leader’s intent,” stated that “The South Korean government has been driving inter-Korean relations into a serious crisis by publicly disapproving of the June 15 Joint Declaration and the October 4 Agreement. We will struggle against that in order to crack down on Southern anti-unification and separatist maneuvers. The newspaper emphasized for the domestic audience that, at the same time as pointing out that this year is the 60th anniversary of the foundation of the North Korean regime, “We have to strengthen the national defense around the People’s Army.”It continued that “We have to bring about a revolution in the development of the people’s lives through encouraging the basic and light industry fields. We have to ride over this barrier with the great strength of the revolutionary military spirit.”However, in Tuesday’s editorial international trends and U.S. related issues were not mentioned. There are signs that North Korea is running into serious difficulties with its corn harvest News “Disapproving of the June 15 Joint Declaration is an Anti-Unification Action”last_img read more

Sanctions galvanize train smuggling operations

first_img By Daily NK – 2016.07.07 2:03pm North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) There are signs that North Korea is running into serious difficulties with its corn harvest NewsEconomy News Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR Cross-border trains are currently one of the most durable conduits for contraband goods in the face of heightened global sanctions targeting North Korea. For this reason, train attendants are actively leveraging their position within the current political climate to accumulate massive profits by turning a blind eye to smuggled products.“The Pyongyang-Beijing cross-border trains, which make stops in Sinuiju and Dandong, have emerged as an extremely reliable vehicle for the distribution of smuggled goods, thereby conferring a corresponding degree of influence to train attendants,” a source from North Pyongan Province told Daily NK in a telephone conversation.The attendants typically charge traders anywhere from 300 to 600 RMB (390,000 to 780,000 KPW) per box of goods, tailoring the price points to reflect the cargo’s significance. “Sometimes this means traders find themselves paying hundreds of dollars,” she explained. Certainly, train attendants were engaged in smuggling operations long before the UN adopted the strongest-ever sanctions against North Korea followed by standalone packages levied by individual nations. Such pressure has merely motivated them to build on their past experience ushering in forbidden imports for significant financial rewards.The higher stakes and therefore bigger gains means competition to land a railroad attendant position is heated; many are rejected in spite of the significant sums of money they offer high-ranking managerial cadres to bring them into the fold. And business is booming. As the list of banned products grows longer, so do the number of trade workers scrambling to sidestep the regulations by lining the pockets of train attendants, who grow “bolder by the day,” according to the source.“Now they’ll pocket fees offered up by middlemen to distributing dollar notes, top-shelf liquor, and other restricted items,” she said, explaining that this process is enabled by the fact that often times these ‘customers’ include cadres, the most powerful of whom are said to use intimidation to bypass fees altogether.Team managers stand to make the most from these illicit transactions, the source asserted, noting, “Attendants must get the green light from managers on which goods to let slide through and then kick back a portion of the profits.” However, the profit window for attendants is limited. These coveted positions are swapped out every two to three years to hedge against losing well-oiled smuggling systems to a law enforcement clampdown. Nevertheless, the duration is “sufficient enough to provide them with enough money to live on for the rest of their lives,” said a source privy to North Korean affairs in China. center_img News News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Sanctions galvanize train smuggling operations SHARE US dollar and Chinese reminbi plummet against North Korean won once againlast_img read more

Fehr: Encourage clients to stay invested in times of pullback

Share this article and your comments with peers on social media Video Player is loading.Play VideoPlayMuteCurrent Time 0:00/Duration 3:34Loaded: 0%0:00Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -3:34 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Facebook LinkedIn Twitter Craig Fehr read more

Falling oil prices raise risks for bondholders: Moody’s

first_img Share this article and your comments with peers on social media The recent plunge in oil prices spells rising subordination risk for bondholders in the energy sector, says Moody’s Investors Service in a new report. The rating agency says that, as oil prices fall, and energy companies’ credit positions become more precarious, the risks for their bondholders increases. “Oil companies require a high level of ongoing investment in exploration and development to maintain their asset base, much of which has been funded with debt,” says Alexander Dill, vice president and head of covenant research at Moody’s. “Amid falling oil and gas prices, their financing is most likely to take the form of second-lien debt secured by collateral of diminished value and that ranks senior to liens held by their bondholders.” The flexible structure of many oil and gas bonds adds to their liens subordination risk, Moody’s says. This is most common in the midstream and propane subsectors, where it affects 86.7% and 85.7% of bonds, respectively, it reports; and, it’s least often a feature in the oilfield services and refining and marketing subsectors. Moody’s assesses covenant quality on a five-point scale, in which 1.0 denotes the strongest investor protections and 5.0 represents the weakest. It says that the midstream and propane subsectors have average scores for liens subordination of 4.80 and 4.88, respectively. “The midstream and propane subsectors offer the poorest protection against liens subordination,” Dill notes. James Langton With bond yields low and rising, what is the price of safety? Catastrophe bond market gains momentumcenter_img When bond ratings slip, investors shrug Related news Keywords Bond Facebook LinkedIn Twitterlast_img read more

Timbercreek names new CFO

first_img Wong was most recently director of capital markets operations for the Ontario Teachers’ Pension Plan. Prior to that role, she was CFO, chief compliance officer and secretary with Toronto-based CQI Capital Management LP, which was formerly GMP Investment Management, and director of investment finance at GMP Securities LP, also of Toronto. “We are pleased to have Gigi join the senior management team at Timbercreek,” says Blair Tamblyn, managing director and CEO of Timbercreek, in a statement. “Her extensive and impressive background in finance and capital markets is an asset to our growing organization and we look forward to having her as part of the team that will continue to drive the company forward.” Timbercreek also announced that David Melo, the firm’s current managing director of finance has been appointed to the role of president of Timbercreek Communities, the property management division responsible for the operations of the Canadian multi-residential properties held in Timbercreek-managed portfolios. Timbercreek is an investor, owner and manager of global real estate and related assets. The firm manages more than $5 billion in alternative assets for investors. Share this article and your comments with peers on social media Tessie Sanci Related news CI GAM names its first-ever head of investment management Facebook LinkedIn Twittercenter_img Keywords Appointments PenderFund names new SVP for investments TD getting new head of private wealth, financial planning Toronto-based Timbercreek Asset Management Inc. has announced that Gigi Wong will be taking over the role as the firm’s chief financial officer (CFO) on Tuesday. Wong will be responsible for overseeing financial and taxation reporting, treasury, corporate financings and the financial reporting and risk analytics platform for the firm. last_img read more

Energy Council Congratulates Anna Collyer

first_imgEnergy Council Congratulates Anna Collyer The Australian Energy Council congratulates Anna Collyer on her appointment as Chair of the Australian Energy Market Commission.Welcoming the announcement, the Australian Energy Council’s Chief Executive, Sarah McNamara, said “Ms Collyer’s distinguished career as a lawyer and previous roles in the energy sector equip her extremely well to lead the AEMC.“Her work on energy sector reform via the COAG Energy Council and the AEMC, and her proven track record of working constructively with government and industry stakeholders on energy market reforms represents an ideal blend of experience, skills and strategic knowledge.“Ms Collyer’s appointment comes at an important time not just for the AEMC, but also for the Energy Security Board and the sector generally, which continues to wrestle with the challenges of an extended period of transformational change.“I, along with the AEC’s members, wish Anna every success and look forward to working with her in this new and significant role.“We also thank Merryn York for her leadership of the AEMC through this transitional period as Acting Chair.”About the Australian Energy CouncilThe Council represents 21 major electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia, sell gas and electricity to over 10 million homes and businesses, and are major investors in renewable energy generation. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Australian, Australian Energy Council, Commission, council, electricity, energy, Government, industry, natural gas, reform, renewable, renewable energy, security, wholesale, Yorklast_img read more

MTS boosts sales on smartphone and data demand

first_img MTS readies first mmWave phone for Russia Author AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 20 AUG 2013 Vodafone, MTS extend partnership to 2023 Related FinancialMTS Previous ArticleOutsiders mull bid for Telekom Srbija stakeNext ArticleExpect steep rise in one-off payments from mobile devices, says UK body Devices center_img Home MTS boosts sales on smartphone and data demand Tags MTS, the biggest operator in Russia, announced solid results for the second quarter of 2013, with Andrei Dubovskov, its president and CEO, attributing continued growth to “the increased adoption of data services, as well as sustained sales of smartphone and stable subscriber dynamics”.On a group level, it reported a net profit of RUB29.05 billion ($880.84 million), compared with a prior-year loss of RUB23.14 billion, on revenue of RUB97.45 billion, up 5 per cent from RUB92.78 billion.In the prior year period, the company reported a significant loss from discontinued operations, related to its Uzbekistan operation.Mobile service revenue in its core Russian unit increased by 5.9 per cent to RUB66.19 billion, with its domestic fixed line unit also seeing growth of 4.4 per cent to RUB14.44 billion.Data revenue increased by 40 per cent to RUB10.97 billion, driven by sales of smartphones with bundled service plans and “preloaded with usage-generating apps and functionality”, as well as point-of-sale loans to encourage customers to upgrade to smartphones, and the availability of devices at a range of price points.It also noted revenue growth in its other operations – Ukraine, Armenia and Turkmenistan.The company ended the period with 102.77 million mobile subscribers, up 0.9 per cent compared to the end of the prior sequential quarter.MTS noted that during the period, it reached an agreement with Altimo, Nomihold, and other associated parties related to its investment in Bitel, a mobile operator in the Kyrgyz Republic.It has also inked LTE deals with Ericsson for the Volga, Siberian, Ural and Southern Federal Districts of Russia, and NSN for Moscow and the Central Federal District.Looking forward, the company’s management reiterated guidance for revenue growth of 5 to 7 per cent in its core Russia and Ukraine businesses. MTS chief backs open, local infrastructure drive Steve Costello Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more last_img read more

Verizon plans fixed 5G launches in 2018

first_img Verizon said it will launch fixed-wireless 5G service in up to five markets in 2018, starting with Sacramento, California.The US operator indicated it will roll out wireless residential broadband service in three to five markets in 2018, with the inaugural launch coming in the second half of the year. Additional markets will be announced at a later date, Verizon said.Verizon CTO Hans Vestberg called the announcement a “landmark”, adding: “The targeted initial launches we are announcing today will provide a strong framework for accelerating 5G’s future deployment on the global standards.”The operator reported the launch will not have a material impact on its capital spending plan for 2018, noting spending levels are expected to remain consistent with the past few years.Verizon conducted trials of fixed-wireless 5G in 11 markets using 28GHz spectrum throughout 2017. At an investor conference in May, CEO Lowell McAdam reported field tests of the technology yielded “substantially more” propagation than expected. McAdam added fixed-wireless 5G would allow Verizon to expand its TV and broadband footprint at a “miniscule” cost.On Wednesday (29 November), Verizon estimated the initial market opportunity for 5G residential broadband services to be around 30 million households.AT&T is also eyeing fixed-wireless 5G with plans to launch in late 2018. In August, AT&T expanded its trial programme to include three new cities: Waco, Texas; Kalamazoo, Michigan; and South Bend, Indiana. Mobile Mix: Buzzing for Barcelona Author Related Home Verizon plans fixed 5G launches in 2018 Diana Goovaerts Amazon reels in MGM 5Gfixed wirelessVerizon Diana is Mobile World Live’s US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only… Read more Verizon shuffles executives AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 29 NOV 2017 Tags Previous ArticleSun sets on Jamaican mobile money pioneerNext ArticleSamsung acquires Korean AI start-up last_img read more

Bigfork Family Gifts $24 Million to UM College of Forestry

first_imgA Bigfork family has donated $24 million to the University of Montana College of Forestry and Conservation, awarding the nationally renowned program the largest gift in campus history.In a show of gratitude for the donation by Bill and Carolyn Franke, UM has renamed the school the W.A. Franke College of Forestry and Conservation.Earlier this month, UM announced that the Frankes and their children had pledged the largest single gift in the history of the campus. Bill Franke is an airline magnate and the family has a home in the Bigfork area and an interest in conservation and education.On Nov. 18, the Montana University System Board of Regents approved the naming of the W.A. Franke College of Forestry and Conservation and the Franke Global Leadership Initiative in honor the family’s transformative $24 million gift to the University of Montana.“We are both humbled and affirmed by the Frankes’ thoughtful investment in UM,” said UM President Royce Engstrom. “The ongoing work of the College of Forestry and Conservation and Global Leadership Initiative will have a profound impact on our future.”The Franke family members are not UM alumni but have a deep appreciation for Montana, Bill Franke said.As the managing partner and founder of Indigo Partners, a private equity firm focused on worldwide investments in air transportation, and former CEO of several public companies, including America West Airlines, Franke said historically he has been careful with his donations.“We are pretty careful about what we do in terms of giving, and we came across the University of Montana somewhat by happenstance,” he said.During his early career in the timber industry, Bill Franke drove the Hi-Line and fell in love with the Big Sky Country. He and his wife, Carolyn, divide time between Texas and Arizona but have owned a home near Bigfork, Montana, since the 1990s, maintaining their connection to the beautiful forests, rivers and lakes of western Montana, he said.For the past eight summers, a UM faculty member or alumni have been invited to speak to a group of the Frankes’ business partners during their annual Indigo Partners company retreat in Montana.“As we became familiar with the educational opportunities, research and special programs at the University of Montana, it was clear to us the University is a hidden gem,” Bill Franke said.“It is our expectation that the College of Forestry and Conservation’s work will help keep Montana the beautiful place that it is. And we are believers that the Global Leadership Initiative will train students to look beyond their own experiences and home geography to recognize that we live in a global economy.”The decision to invest in UM was a family endeavor involving Bill and Carolyn’s five children: Dave, who oversees the family office, Franke and Company; Brian, a principal at Indigo Partners; Paige and Catherine, who are both educators; and Rebecca.“Our family has been very fortunate in life,” said Dave, noting that his father’s education was a catalyst for the family’s achievements. “To create that same opportunity for a student – to fuel a desire to create their own success – that’s our ambition.”The Frankes’ gift is focused on students and programs that emphasize environmental research and hands-on learning experiences. A large portion of the gift, $18 million, will fuel education and research in the college, providing competitive fellowship awards to faculty and graduate students, funding for undergraduates to learn about conservation through study abroad and service learning projects, and scholarships for both graduate and undergraduate students. It will also fund two faculty positions in forest conservation and watershed hydrology and support students doing internships related to their majors.The remaining $6 million dollars will fund scholarships for Franke Global Leadership Initiative students pursuing educational experiences outside of the classroom including internships, service learning, study abroad, research and field experiences. Additionally, the gift will support critical staffing and operations to continue building the program. UM’s Global Leadership Initiative is a four-year, 12-credit certificate program that provides undergraduate students opportunities to explore society’s most pressing questions by combining local and global practical experiences with classroom education.“We have been very impressed by the UM students we have met,” Carolyn said. “I am confident that there are students and faculty at this University who will help improve lives.” Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox.last_img read more

Finding Beauty in ‘Difficult Days’

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. It takes talent, time, and tenacity to build a career in the music industry, with songs to write, albums to record, gigs to play, and tours to complete all before turning around and doing it all over again.But for Kalispell musician Mike Murray, it also takes some literal construction, in this case a tiny recording studio in his backyard, connected to the home he shares with his wife, Jessica, and their 3-year-old daughter, Audrey, via a concrete pathway.The 42 square feet of space is crowded with equipment, but it proved to be the perfect fit for Murray to record his fourth album, “Difficult Days,” which will be introduced at an official release party on March 2 at the LaSalle Grange Theatre near Columbia Falls.Well, almost a perfect fit.“I did the drums in the basement because I couldn’t physically fit them in the studio,” Murray said, laughing.Coming three years after his 2015 Americana album, “Tumbleweed,” “Difficult Days” is Murray’s fourth solo effort, complemented by three albums he made with bands.But where the songs on “Tumbleweed” were intentionally written and recorded to give off an Americana feel, this new album was born of a new process. Murray, 33, had intended to follow up his third album quickly, but instead found himself somewhat swamped by its success.“I was so busy playing gigs that I kept putting the album off,” Murray said.Then began a series of events that led Murray through some difficult days of his own, but would eventually result in the album that he believes sounds most like himself thus far.In March of last year, Murray went down to Los Angeles at the request of a talent agency to co-write with other professional songwriters.“It was nerve-wracking at first,” he said. “But all the writers said the key to quality is quantity.”The LA songwriters advised that Murray should write as many songs as possible, 100 if necessary, and then eventually pick 10 or 15 of the best to record.“I started writing like crazy, and then recording demos right away,” Murray said.Still playing plenty of gigs at the time while also recording vocals for a remote job, Murray’s voice started taking the brunt of it all. He went hoarse, and his voice wasn’t recovering. He stopped recording in the studio but kept playing shows because it was necessary for his income.But eventually, he was struggling to sing at all. A visit to an ear, nose, and throat specialist showed a polyp on his vocal cords, and the only course of recovery aside from surgery was rest.Murray was forced to stop singing and even talking; he found himself texting his wife while sitting next to her on the couch.“It was a really stressful and frightening time,” Murray said. “But I had about 35 songs from that burst of songwriting earlier in the year, and I thought while I’m resting my voice, I could make this album.”So Murray got to work last September laying down the instrumentals for “Difficult Days,” finishing up in mid-February. His vocal cords healed without surgery, and the album took on a certain edge, a bit more serious and darker than previous records.Because while Murray was going through his own series of difficult days, so were many of his friends and family, he said. Their experiences are reflected within the songs, which expand across a vast breadth of human emotions. There are songs about the beauty and exhilaration of first love, as well as those about the pain and sadness that accompany heartbreak.The resulting album holds 14 songs, which Murray arranged in a very specific order. It’s a bit of an old-school approach to recording anymore, he said, because the album is meant to be consumed from start to finish instead of cherry-picking popular songs for downloading or streaming services (though the whole album will be available on major downloading and streaming platforms).But Murray feels that an entire album encapsulates a moment in time better than one or two songs could.“Why do we feel this drive to make albums? CDs are almost completely irrelevant, and even downloading a full album is unheard of,” Murray said. “But (a full album) is part of artistic, personal expression.”Murray has a small Montana tour planned for the album, and the March 2 opening reception will include a concert of all the new songs along with Murray discussing the context behind the album.While he’s proud of his previous work, Murray said “Difficult Days” represents a new type of recording for him, an experience he went into without expectation or framing, unlike with previous albums.The result is an honest, personal collection of songs that he says represents him more than anything he’s made before.“People who know me, they say ‘This is the most ‘you’ thing you’ve done,’” Murray said. “It came very naturally.”The “Difficult Days” album release party takes place at the LaSalle Grange Theatre on March 2 at 6:30 p.m. For more information on Mike Murray, visit www.MikeMurrayTunes.com.last_img read more