Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

World

20 Oct 2021

N.Korea Confirms Operational Submarine Launch of New Ballistic Missile

The Index Today

On Wednesday, North Korea test-fired a new, smaller ballistic missile from a submarine, state media confirmed, this move that the analysts said could be aimed at more quickly placing an operational missile submarine.

Reuters reported that the statement from state media came a day after South Korea's military reported that it believed North Korea had fired a submarine-launched ballistic missile (SLBM) off its east coast, the latest in a string of North Korean missile tests.

In addition to the report, the White House urged North Korea to refrain from further "provocations", with spokeswoman Jen Psaki saying on Tuesday the United States remained open to engaging diplomatically with North Korea over its weapons programmes.

Pyongyang so far has rejected those overtures, accusing the United States and South Korea of talking diplomacy while ratcheting up tensions with their own military activities.

South Korean Foreign Minister Chung Eui-yong on Wednesday called for Washington to ease sanctions if the North returns to talks.

"Action must be taken as soon as possible to stop North Korea from further developing nuclear and missile capability," he told parliament. "I think considering relaxing sanctions can surely be an option."

The United States and Britain plan to raise the North's latest test during a U.N. Security Council meeting on Wednesday, diplomats said.

The "new-type" SLBM was launched from the same submarine involved in a 2016 test of an older SLBM, North Korea's state news agency KCNA said.

North Korea has a large fleet of aging submarines, but has yet to deploy operational ballistic missile submarines beyond the experimental Gorae-class boat used in the tests.

Photos released by KCNA appeared to show a thinner, smaller missile than North Korea's earlier SLBM designs, and may be a previously unseen model first showcased at a defense exhibition in Pyongyang last week.

©Photo: KCNA / via AP

Clay pottery with table linens