Russia's Lavrov in North Korea for Latest High-Level Visit
The Russian minister and his North Korean counterpart Choe Son Hui started talks in the resort city of Wonsan on Saturday, according to the Russian Interfax wire.
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CNN
40 minutes ago
- CNN
Russia starts direct commercial flights between Moscow and Pyongyang
Russia Asia North Korea Aviation newsFacebookTweetLink Follow Russia on Sunday opened a regular air link between Moscow and Pyogyang, a move reflecting increasingly close ties between the two countries. The first flight operated by Russian carrier Nordwind took off from Moscow's Sheremetyevo airport carrying over 400 passengers. Russia's Transport Ministry said there will be one flight a month to meet demand. Russian Foreign Minister Sergey Lavrov, who visited North Korea's new Wonsan-Kalma beach resort earlier this month to meet with North Korean leader Kim Jong Un, promised to encourage Russian tourists to visit the complex. The resort, which can accommodate nearly 20,000 people, is at the center of Kim's push to boost tourism to improve his country's troubled economy. North Korea has been slowly easing the curbs imposed during the pandemic and reopening its borders in phases. But the country hasn't said if it would fully resume international tourism. Regular flights between Russia's eastern port city of Vladivostok and Pyongyang reopened in 2023 following a break caused by the coronavirus pandemic. Russia and North Korea have sharply expanded military and other ties in recent years, with Pyongyang supplying weapons and troops to back Russia's military action in Ukraine.
Yahoo
41 minutes ago
- Yahoo
Japan Expects 1%-2% of $550 Billion US Fund to Be Investment
(Bloomberg) -- Japan expects just 1% to 2% of its recently agreed upon $550 billion US fund to be deployed as investment, with loans making up the majority, according to the nation's top chief negotiator Ryosei Akazawa. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Meanwhile, Tokyo stands to save roughly ¥10 trillion ($68 billion) through lower tariff rates in its deal with the US, Akazawa told public broadcaster NHK on Saturday. The details revealed by Akazawa suggest the Japanese may end up giving up much less than at first glance. The $550 billion investment framework combines investments, loans and loan guarantees provided by financial institutions backed by the Japanese government, Akazawa said. Of the total, investment will comprise 1% or 2% and the US and Japan will split the profits of that investment at a ratio of 90-10, he said. Japan had originally proposed a 50-50 ratio, he added. Officials from Japan and other countries that struck deals with the US are now sifting through the terms to explain them to the public. The fund is a centerpiece of the deal announced by the two sides that will impose 15% tariffs on Japanese cars and other goods. 'It's not that $550 billion in cash will be sent to the US,' Akazawa said. 'By letting the US have 90% of the profits rather than 50%, I think Japan's loss will be at most a couple of tens of billions of yen. People are saying various things, such as 'You sold out Japan,' but they're wrong.' For loans provided through the program, Japan will collect interest payments; and for loan guarantees, if nothing happens Japan will collect fees, Akazawa said. 'For that part, Japan's just making money,' he said. Akazawa also clarified that the investment program won't be only supporting Japanese and US firms. As a potential example, he cited a Taiwanese semiconductor firm building a factory in the US. 'We'd like to put the $550 billion in place during President Trump's term,' Akazawa added. Further details of the implementation of the US-Japan deal remain unclear, including when the new tariff rates will take effect and when the new investment vehicle will start. There's been no joint document signed by both sides for the deal, although the White House has published a fact sheet. 'If you say something like, 'Let's create a joint document,' they will say, 'We'll lower tariffs after the document is created,'' Akazawa said. In order to not lose time, 'we will demand that they issue an executive order to lower tariffs as soon as possible, regardless of a document.' Last week, Akazawa said he expects universal tariffs on Japan's shipments to be lowered to 15% on Aug. 1. He said he wants car tariffs to be cut to 15% as soon as possible without specifying a date. The Trump administration has touted the deal with Japan as a potential model for others. On Sunday, the US and European Union agreed on a deal that will see the bloc face 15% tariffs on most of its exports with the EU pledging to invest $600 billion in the US. --With assistance from Takashi Hirokawa. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.
Yahoo
an hour ago
- Yahoo
China opposes Czech president's visit to Dalai Lama
HONG KONG (Reuters) -China said it "resolutely opposed" Czech President Petr Pavel's meeting in India with Tibetan spiritual leader the Dalai Lama, and urged the Czech side to "abide by its one-China political commitment" and maintain healthy and stable relations. China's embassy in the Czech Republic posted the notice late on Sunday and said China firmly opposes any form of contact between officials of any country and the Dalai "clique". Pavel met with the Dalai Lama on July 27, it said. "China urges the Czech side to abide by its one-China political commitment, take immediate and effective measures to eliminate the bad influence," the statement said. It added that the Czech side should stop sending "any wrong signals to 'Tibetan independence' separatist forces." The Dalai Lama has been living in exile in India since 1959 following a failed uprising against Chinese rule in Tibet, and Indian foreign relations experts say his presence gives New Delhi leverage against China. India is also home to about 70,000 Tibetans and a Tibetan government-in-exile.
