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Thursday, December 13, 2012

North Korea confirms successful satellite launch

Official media of the Democratic People's Republic of Korea (DPRK) on Wednesday confirmed that the country successfully launched and orbited an earth observation satellite.

"The successful launch of the satellite is a proud fruition of the Workers' Party of Korea's policy of attaching importance to science and technology," said news agency KCNA.

The success serves "as an event of great turn in developing the country's science, technology and economy by fully exercising its independent right to use space for peaceful purposes," it added.

According to the KCNA, a Unha-3 rocket carrying the second version of the Kwangmyongsong-3 satellite blasted off from the Sohae Space Center in Cholsan County, North Phyongan Province, at 09:49:46 local time (0049 GMT).

The satellite, said the KCNA, entered its preset orbit 9 minutes and 27 seconds after the lift-off, and then started going round the polar orbit at 499.7 km perigee altitude and 584.18 km apogee altitude at the angle of inclination of 97.4 degrees, with a cycle of 95 minutes and 29 seconds.

This year marks the 100th anniversary of the birth of late President Kim Il Sung, and this month marks the first anniversary of the demise of late leader Kim Jong Il.

Int'l Reactions

	China "regrets" DPRK's satellite launch China regrets the Democratic People's Republic of Korea's (DPRK) satellite launch amid the "universal" concern of the international community, a Foreign Ministry spokesman said on Wednesday.
	White House reacts to DPRK launch White House spokesman Tommy Vietor says US condemns the launch as a "highly provocative act" in direct violation of UN resolutions and vows to work with international partners to seek "appropriate action" against Pyongyang.
	Russia voices regret over DPRK's rocket launch Russia on Wednesday expressed "deep regret" over the rocket launch by DPRK, saying the move violated a UN Security Council resolution.
	S.Korea's Lee convene security meeting following DPRK's rocket launch South Korea strongly condemned North Korea’s rocket launch, saying that it violated a UN resolution and sent Aegis destroyers to trace the rocket.
	Japan strongly protests against DPRK's satellite launch Japan on Wednesday strongly protested against a satellite launch by DPRK, saying the launch was "unacceptable" and violates the United Nations' relative resolutions.
	Philippines "strongly condemns" DPRK rocket launching The Philippine government on Wednesday "strongly condemns" DPRK's rocket launching, saying that it violated an UN resolution.
	New Zealand condemns DPRK satellite launch The New Zealand government Wednesday condemned the launch of a satellite using long-range ballistic missile technology by DPRK.

Wednesday, December 12, 2012

HSBC Bank fined $1.92 billion for money laundering

British banking giant HSBC agreed to pay a record $1.92 billion settlement Tuesday after a broad investigation by U.S. federal and state authorities found the bank violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan and Burma

HSBC has agreed to pay $1.92 billion to settle a US money laundering probe. The British bank is alleged to have allowed clients with links to drug trafficking and terrorism to move money.

The two sides reached a $1.92 billion (1.48 billion euros) settlement Tuesday, HSBC said.

"HSBC has reached an agreement with the United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanction laws," the bank said in a statement.

The settlement includes a five-year deferred prosecution agreement with the US Justice Department, which allows a subject under investigation to avoid prosecution if it meets conditions, such as paying fines.

Prosecutors had accused HSBC of allowing improper financial transfers from countries including Mexico, Iran and Saudi Arabia by clients linked to international crime, including drug trafficking and terrorism.

The bank apologized soon after, and acknowledged the firm lacked controls to prevent money laundering.

'Profoundly sorry'

"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again," said group chief executive Stuart Gulliver in a statement.

"We are committed to protecting the integrity of the global financial system. To this end we will continue to work closely with governments and regulators around the world," Gulliver said.

HSBC's announcement comes one day after another British bank, Standard Chartered, agreed to pay some $327 million (253 million euros) to settle charges it violated US sanctions by channelling money to clients in Iran and Sudan.

dr/msh (AFP, dpa, AP)

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Tuesday, December 11, 2012

Philippines wants rearmed Japan to contain China

The Philippines said Monday that it supports Japan dropping its pacifist constitution and acting as a balance against China, while experts say that Manila and Tokyo will join forces more closely on South China Sea issues.

In an interview with the Financial Times, Foreign Secretary Albert del Rosario said the Philippines would strongly support a rearmed Japan as a counterweight to "Chinese provocation."

Also on Monday, Chinese foreign ministry spokesman Hong Lei said at a regular press briefing that "China hopes the concerned parties on the South China Sea issue take regional peace and stability as a priority and generate more efforts to increase mutual trust and cooperation."

Hong's remarks came after a Philippines-proposed meeting among four Southeast Asian claimants to the South China Sea for this month in Manila was postponed.

Manila's support for Tokyo to rearm comes shortly before a general election in Japan, where the front-runner, opposition leader Shinzo Abe, has said he wants to revise the country's pacifist constitution, imposed by the US after the war.

"Albert del Rosario's view reflects Manila's strategy. The Philippines could not rally support among Southeast Asian countries and is turning to Japan, which shares a common interest with the Philippines on maritime disputes against China," Zhuang Guotu, head of the Center for Southeast Asian Studies at Xiamen University, told the Global Times.

"No matter who wins the general election in Japan, Tokyo and Manila will cooperate more closely to act against Beijing's territorial claims," Zhuang said, adding that the Philippines needs Japan to upgrade its maritime forces.

In 2014, the Philippine Coast Guard will receive 12 patrol boats from Japan, the Philippine Daily Inquirer reported on November 25. Both Manila and Tokyo have been involved in severe territorial disputes with Beijing this year.

By Xu Tianran
AFP contributed to this story

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