Asia
North Korea accused of arms deal with Syria
The United Nations (UN) released a report yesterday that states North Korea has violated UN resolutions, including possible arms deals with Syria and Myanmar. A panel of independent experts published the report, which has been delayed by a month due to Chinese objections, after being reported to the UN Security Council last month. China has been reported to block previous reports. One of the transactions between North Korea and Syria was shipped via China, it has been claimed. The report states that none of the shipments have been of nuclear or ballistic artillery. A Council diplomat has said that, “We’re pleased that people will be able to study and analyze [the publication]”.
Africa and Middle East
Egypt swears in a new era
Egypt’s newly elected President, Mohamed Mursi, has be sworn in to office as the country’s first civilian, democratically elected holder of the office. The Muslim Brotherhood candidate has sworn to “respect the constitution and the rule of law”, with no mention of creating an Islamic order. He is to occupy the Palace of his predecessor, Hosni Mubarak, who is currently serving a life sentence. Despite the military stripping many presidential powers since the revolution, Mursi has warned off further stripping and promised that, “The revolution must continue until all its objectives are met.”
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Syrian Resolution: UN struggles with Russia and US tensions
The conference in Geneva that is seeking a resolution on Syria, is struggling to make progress as tensions between the US and Russia continue. Despite a ceasefire brokered by the UN, violence has continued in the country, with increasing concerns from rights groups. Russian officials have stated that there is an opportunity to find common ground, with Syria being their closest ally in the Middle East. However, the US Secretary of State Department said differences still remain. The two foreign office departments have said they intend to go into talks.
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Arab spring contagion spreads south
Sudanese civilians have been building pressure on President al-Bashir’s 23-year totalitarian regime. Wide spread protest, which last year was suppressed by government hostility, is voicing unrest over corruption and rising food prices. The National Congress party, formally the National Islamic Front, has placed blame on foreigners for the uprising. NGOs Transparency International and Freedom House have highlighted serious concerns over the state of the country.
Europe
UK: Ministers commission Bank Review
The Cabinet has announced that it will open an independent review into the lending rates between banks. The decision comes in the wake of Barclays being fined $450m for manipulating the inter-bank lending rate. The Chancellor of the Exchequer has also confirmed that UBS, HSBC, Citigroup and RBS are being investigated. The concern is an echo of the Bank of England Governor’s call for an overhaul of banking culture. The leader of the Opposition, Ed Miliband, has called for a legally binding code of conduct for bankers.
Latin America
Paraguay trade suspension paves the way for Venezuela
The Brazilian foreign minister has announced that Paraguay is to be temporarily excluded from the Southern Common Market (Mercosur). The ruling comes as a reaction to the impeachment of President Lugo, which breaches trade agreements stating that all members must uphold democratic norms. No further sanctions will be held against Paraguay. Moreover, Paraguay has previously blocked membership for Venezuela. Subsequently, Venezuela has joined Mercosur as the biggest exporter of oil in the region.
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