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North Korea launches two ballistic missiles toward Sea of Japan

ballistic missile
© KCNA / Reuters
North Korea has launched two ballistic missile toward the Sea of Japan, one of which exploded immediately after launch, according to the US. The move has been condemned by the country's southern neighbor, as well as Japan and Washington.

The projectile that was launched at about 7:50am local time (around midnight GMT), and, according to South Korea's Joint Chiefs of Staff, flew for about 1,000 km (620 miles) before landing in Japan's economic exclusion zone. US Strategic Command said it had also detected a second launch which resulted in failure.

South Korea's Joint Chiefs of Staff termed the latest launch part of a North Korean ambition to "directly and broadly attack neighboring countries and target several places in the Republic of Korea such as ports and airfields."

Japanese Defence Minister Gen Nakatani said the projectile, which appeared to be a medium-range Rodong missile, landed in the Sea of Japan some 150 miles (250km) off the country's northern coast.

Snakes in Suits

Just a coincidence: US denies $400Mln transfer to Iran linked with 4 US citizens release

 US State Department spokesman John Kirby
© AFP 2016/ MANDEL NGAN
The US government did not transfer $400 million to Iran in exchange for the release of four US citizens, US State Department spokesman John Kirby said Wednesday.

The Wall Street Journal reported earlier in the day that wooden pallets stacked with euros, Swiss francs and other currencies were flown into Iran on an unmarked cargo plane, as the US law forbids transacting US dollars with Iran. At the same time, the United States was negotiating a prisoner exchange with Iran, raising doubts among Republicans that money had changed hands to guarantee the release as a ransom payment.

"The funds that were transferred to Iran were related solely to the settlement of a long-standing claim at the U.S.-Iran Claims Tribunal at The Hague," Kirby said, as quoted by the Fox News.

Comment: More from Marketwatch:
But U.S. officials also acknowledge that Iranian negotiators on the prisoner exchange said they wanted the cash to show they had gained something tangible.

Sen. Tom Cotton, a Republican from Arkansas and a fierce foe of the Iran nuclear deal, accused President Barack Obama of paying "a $1.7 billion ransom to the ayatollahs for U.S. hostages."

"This break with longstanding U.S. policy [not to] put a price on the head of Americans, and has led Iran to continue its illegal seizures" of Americans, he said.

Since the cash shipment, the intelligence arm of the Revolutionary Guard has arrested two more Iranian-Americans. Tehran has also detained dual-nationals from France, Canada and the U.K. in recent months.



Info

Aleppo offensive displays 'tectonic shift' in capabilities of Syrian army

Aleppo street
© AFP 2016/ GEORGE OURFALIAN
The Syrian Arab Army (SAA), assisted by Russian aircraft and its local allies, has managed to cut off all militant supply routes to the city of Aleppo in a weeks-long offensive that has demonstrated how efficient and potent Damascus-led forces have become, the Lebanese newspaper As Safir asserted.

The media outlet viewed the battle for the Bani Zeid neighborhood as the key in the offensive that was launched in June to prevent radical groups, including al-Nusra Front and Ahrar al-Sham, from smuggling fighters, weapons and supplies in and out of Aleppo, Syria's second largest city.

"The victory in Beni Zeid gives a real chance to resolve the crisis through political means," As Safir quoted an unnamed high-ranking Syrian official as saying.

The battle that took place on the 49th day of the Aleppo offensive lasted eight hours. The SAA is reported to have encountered almost no opposition from al-Nusra Front and other radical groups in the process.

Attention

New docs implicate CIA in Hammarskjold assassination, UN to initiate new probe

hammarskjold

Dag Hammarskjold
U.N. Secretary-General Ban Ki­-moon will propose reopening an inquiry into allegations that Dag Hammarskjold, one of the most revered secretaries-general in the organization's history, was assassinated by an apartheid-era South African paramilitary organization that was backed by the CIA, British intelligence, and a Belgian mining company, according to several officials familiar with the case.

The move follows the South African government's recent discovery of decades old intelligence documents detailing the alleged plot, dubbed Operation Celeste, that was designed to kill Hammarskjold. In a recent letter to the United Nations, South African authorities said the documents have been transferred to their Justice Ministry so U.N. officials could review them, according to diplomatic sources. The South African Mission to the United Nations did not respond to a request for comment. The CIA has previously dismissed allegations that it was behind Hammarskjold's death as "absurd and without foundation."

This new information (the discovery of which has not previously been reported) is surfacing more than a year after a U.N. panel of experts, chaired by Tanzanian Chief Justice Mohamed Chande Othman, wrapped up a wide-ranging review of fresh evidence that had emerged in the years following the mysterious 55-­year-old air tragedy. The panel urged the secretary-general, ­­who is already required by a 1962 General Assembly resolution to report on any new evidence shedding light on Hammarskjold's death, to keep pressing governments and their intelligence agencies to disclose or declassify information that could fill gaps in the evidence surrounding the tragedy.

Comment: See also our interview with Henning Melber, who was part of the Hammarskjold Commission: The Truth Perspective: Interview with Henning Melber: Dag Hammarskjold, why he died and why it matters


Info

Amnesty International says refugee deal with Libya 'dangerous' as there's no effective government in Tripoli

 Refugees in capsizing boat
© Reuters
Europe cannot strike a refugee deal with Libya, as recommended by Britain's Home Affairs Committee, because authorities in Tripoli do not have coherent control over the country, Amnesty International says.

The Home Affairs Committee report published on Wednesday calls for an EU deal to be struck with Libya to clamp down on people-smuggling across the Mediterranean Sea.

"An EU deal with Libya to tackle people smuggling is very dangerous and fails to address the absence of any effective government with which to deal," Amnesty warned, however.

Stock Up

Accelerated agricultural & manufacturing growth reveal a stronger Russian economy

russian economy
© Sputnik/Anton Denisov
Economic figures from Rosstat and Central Bank point to easing inflation and strengthening recovery.

According to Rosstat (the Russian government's statistical agency) industrial production was 1.7% higher in June 2016 than in June 2015 - above most forecasters' expectations. Importantly manufacturing production grew for the third successive month, increasing by 1.6% in June as against 0.6% in April and 0.3% in May. The Central Bank now estimates the level of GDP decline in the second quarter (April to June) at just 0.2 - 0.4%.

Meanwhile food production continues to accelerate rapidly, with predictions of bumper food output this year and Russia's Agricultural Ministry saying Russian farmers will have replaced all food imports and will be supplying the country with 100% of its food products within just 10 years.

The sharp rise in inflation many predicted for June and July failed to take place. Where there were concerns that inflation might rise to an annualised rate above 8% it actually fell to an annualised rate of 7.2% at the end of July. There is now general agreement that there is likely to be slight deflation in August. The Central Bank is revising down its expectations for inflation this year and next year. Whereas earlier in the year it was predicting that annualised inflation would fall to 5% by the second quarter of 2017, it now expects it to be below this figure. It still expects to reach its 4% target by the end of 2017.

Comment: Further reading: Assessing Russia's economic Achilles heel


Info

Russian foreign ministry rules out any offensive on Syria's Aleppo despite Washington's claims

Russian humanitarian aid to Syria
© Sputnik/ Ali Abrahim
Russia's deputy foreign minister ruled out any plans Moscow's offensive on the Syrian city of Aleppo and underscored that Russia's goal in the region was confined to conducting a humanitarian operation only.

Russia has no intentions of launching an offensive on Syria's Aleppo and is carrying out a purely humanitarian operation, Russian Deputy Foreign Minister Sergei Ryabkov said Wednesday.

"There are no plans of an offensive in Aleppo neither by Syrian forces, nor through airstrikes by the Russian Aerospace Forces," Ryabkov told reporters. "Absolutely false and harmful interpretations of our actions are voiced by certain circles in Washington."

"We repeat again that we have no goals other than solving humanitarian problems faced by the residents of Aleppo and creating conditions to extend the ceasefire regime," he underlined.

Wall Street

Think tank warns UK 'sailing blindly' into financial meltdown bigger than 2008

Canary Wharf financial financial district in London
© Reinhard Krause / Reuters
Canary Wharf financial financial district in London
Britain is heading for financial crisis worse than the 2008 collapse and the Bank of England (BoE) is "asleep at the wheel," a think tank has warned.

A devastating report by the Adam Smith Institute (ASI) has blasted the BoE's stress tests - which are meant to check the resilience of a bank to economic shocks - as being like "a ship radar system that cannot detect an iceberg."

The report's author, Durham University professor of finance and economics Kevin Dowd, said every single UK bank would fail "more rigorous" stress tests used by the US Federal Reserve.

He predicts Britain is sleepwalking into a second global financial crisis which will be even bigger than the last one.

Eye 1

Chinese defense minister calls on country to prepare for possible war over tensions in South China Sea

Chinese Navy
© AFP 2015/ POOL / Guang Niu
The Chinese defense minister has warned the tense situation in the South China Sea poses the threat of a direct confrontation and has called on the military, police and general population to be ready to defend the country's territorial integrity.

Chang Wanquan made the statement while inspecting military installations in China's eastern coastal Zhejiang Province, state news agency Xinhua reported, without giving the timing of the comments.

The seriousness of the national security situation should be recognized, particularly when it comes to threats posed at sea, Chang said.

The Chinese military, law enforcement and citizens must be ready for mobilization in the event of a "people's war at sea,"he added.

The general public should be educated about national defense issues because national sovereignty and territorial integrity are at risk, according to the minister.

Comment: Further reading:


Road Cone

Let's get the facts first: Russia abstains from accusations of chemical weapon use in Syria unlike US

Aleppo shelling
© Sputnik/ Mikhail Voskresenskiy
Russia, unlike the United States, abstains from accusing states of using chemical weapons in the Syrian city of Aleppo in the absence of facts, Russian Deputy Foreign Minister Sergei Ryabkov said Wednesday.

"Unlike the US administration - which received a primary signal from a perhaps non-neutral source that yet more barrel bombs with chemicals have been dropped and is already attempting to generalize and make far-reaching conclusions - we refrain from this. We do not know what had happened there really," Ryabkov.

A source in the local people's militia told RIA Novosti on Tuesday that terrorists shelled Aleppo's Old City district with munitions filled with poisonous gas, killing five civilians.