North Korea’s Long-Range Missile Fails After Liftoff

Defying international pressure, North Korea launched a long-range missile Friday morning. However, U.S. officials say they believe the attempted launch failed before the missile was able to leave the Earth’s atmosphere.

U.S. officials confirm that a North Korean long-range missile appears to have broken apart midair after launch. Officials say they believe the missile fell apart within the Earth’s atmosphere before crashing into the sea. South Korea’s Defense Ministry first reported the launch, which is seen as defying international warnings and widely viewed as a provocation from the rogue state. The U.N. Security Council will meet Friday to discuss a response to the North’s attempted launch.


South Korean and U.S. intelligence reports say the launch was made from the west coast launch pad in the hamlet of Tongchang-ri. The launch comes after weeks of speculation regarding the possible launch, which North Korea’s government says was being done to send a weather satellite into orbit. If true, it would represent the third failed attempt by North Korea to send a satellite into space since 1998.

North Korea says it was timing the launch to coincide with the 100th anniversary of the birth of the country’s former leader, Kim Il Sung, which they are celebrating Sunday. However, most observers say the launch is actually tied to the country’s missile program. Japan has already given its military clearance to shoot down the rocket if it crosses into Japanese airspace.

There was no word from North Korea’s capital, Pyongyang, about the launch. North Korean television was reportedly broadcasting popular folk music at the time of the launch and has only said it will offer an announcement on the launch “soon.”

Source: Yahoo News

Image: Times 24/7

World Stocks Fall Due To Growth Fears

Stocks have fallen on fears over the health of the global economy, after last week’s weak US jobs data and persistent fears over the eurozone.

Figures released on Friday by the US Labor Department showed the smallest growth in employment in five months. The US economy added 120,000 jobs during March, less than the 200,000 widely predicted by analysts. Investors in Europe were given their first chance after the Easter break to react to Friday’s disappointing US jobs data. The figures raised fears about the strength of the recovery in the US economy.

Meanwhile, the interest rate on Spanish bonds traded in the secondary market continued to rise. The yield on 10-year bonds hit 5.99%, up from 5.74% on Monday, indicating that investors are getting increasingly concerned about Spain’s ability to repay its debts.


Investors in Europe also had an eye on Chinese data showing a rise in exports but a sharp fall in imports, while a report from the Organisation for Economic Co-operation and Development (OECD) also gave mixed messages. It identified a “potential turning point in economic activity in the euro area and regained momentum in other major economies”, particularly the US and Japan.

But the report also talked of “diverging” economies in Europe, with Germany and the UK showing a “positive change in momentum” but France and Italy displaying “continued sluggish activity”. Analysts noted general caution ahead of the first quarter reporting season in the US, beginning later on Tuesday with aluminium giant Alcoa.

Source: BBC News

Image: Asia Bizz

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