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Monday, June 27, 2011

Millions North Korea soldiers out of post for Hunger and malnourished-report

North Korea is struggling to feed its army, according to new footage obtained from within the secretive state which shows a soldier complaining that his unit is weak from a lack of nutrition.

The Australian Broadcasting Corporation said the video was taken by an undercover North Korean journalist over several months earlier this year and smuggled out of the communist country to China.

It shows filthy, orphaned children begging for food in the streets and a party official ordering a vendor at a private market to give her a donation of rice for the army — once quarantined from food shortages.

“My business is not good,” complained the stallholder.

“Shut up,” replied the official. “Don’t offer excuses.”

One young North Korean soldier is filmed saying to the reporter’s hidden camera that “everybody is weak”.

“Within my troop of 100 comrades, half of them are malnourished,” he said.

Earlier this month, Seoul-based humanitarian group Good Friends reported that enlisted soldiers had been abandoning their posts due to a lack of food since April, with some troops forced to skip meals.

North Korea’s 1.1-million-strong military, under the regime’s “Songun” or “army first” policy, is usually given greater access to food than ordinary citizens.

The ABC said the exclusive video also showed labourers building a private railway track near the capital Pyongyang for ailing ruler Kim Jong-Il’s son and apparent heir Kim Jong-Un.

“This rail line is a present from Kim Jong-Il to comrade Kim Jong-Un,” the undercover journalist is told when he asks the building site supervisor what they are doing.

Asked why he risked his life to shoot the video, the journalist said he was fed up with how people were suffering.

“The life of North Koreans has hit rock bottom,” he said. “I feel very angry about the succession of Kim Jong-Un.”

Japanese publisher Jiro Ishimaru, who instructed the undercover reporter on how to use the camera, told the ABC the footage was important because it showed Kim Jong-Il’s regime weakening.

“It used to put the military first, but now it can’t even supply food to its soldiers,” Ishimaru, who edits a magazine featuring insider accounts of life in North Korea, said.

“Rice is being sold in markets but they are starving. This is the most significant thing in this video,” he said.

Ishimaru works for Asia Press, a Tokyo-based network of independent journalists, which has a team of 10 North Korean volunteers who cover news deep inside the country.

Impoverished North Korea has requested overseas food and relief groups have said that the state faces imminent shortages, saying people are again eating grass and tree bark.

The United Nations has pleaded with international donors to overlook political difficulties in the face of a humanitarian crisis, saying six million people are in danger of not getting enough to eat.

Hundreds of thousands of North Koreans died in a famine in the 1990s, with North Korea depending on foreign aid to help feed its 23 million people since then.

 

Sunday, June 26, 2011

Bank assets of the Philippines up 9.4% to ₱ 7.12 trillion as of Q1 2011

The Bank Assets of the Philippines up and remained stable and resilient as its total resources grew 9.4% in the first quarter of the year, data released by the Bangko Sentral ng Pilipinas (BSP) over the weekend showed.

Statistics showed that the total assets of the banking industry reached 7.12 trillion from January to March this year or 614 billion higher than the P6.506 trillion worth of resources booked in the same period last year.

Universal and commercial banks accounted for 89.2% of the industry's total assets while thrift banks cornered 8.3% and rural and cooperative banks shared the remaining 2.6%.

The central bank reported that resources of universal and commercial banks posted a double-digit growth of 10% to 6.35 trillion in the first quarter of the year from 5.77 trillion in the same quarter last year.

On the other hand, assets of thrift banks expanded 6.8% to 592.5 billion in the first three months of the year from 554.73 billion in the same period last year.

The BSP said the banking industry's assets continued to expand as more Filipinos turn to savings as a sign of the public's trust in the banking sector.

The industry's assets posted a double-digit growth of 11% to 7.23 trillion last year from 6.51 trillion in 2009 with Filipinos saving more while major players continued to mobilize deposits to fund new loans.

Data showed that resources of universal and commercial banks expanded by 11% to 6.42 trillion last year from 5.78 trillion in 2009 and accounted for about 89% of the industry's total assets.

On the other hand, assets of thrift banks grew by 13.1% to 629 billion last year from 556.1 billion and cornered a share of 8.7% of the total assets of banks.

Peso-denominated deposits increased by 11.2% to 4.02 trillion last year from 3.6 trillion in 2009 while foreign currency deposits climbed 4.2% to P1.1 trillion from 1.05 trillion. In all, bank deposits grew by 9.6% to 5.12 trillion last year from 4.67 trillion in 2009.

The BSP said the number of banks retreated by 27 to 758 last year from 785 in 2009 due to mergers as well as the closure of some banks. The number of universal and commercial banks was steady at 38 followed by thrift banks with 73 while the number of rural banks fell to 647 from 674.

The data showed that the operating network including branches of the banking system inched up by 2.9% to 8,869 last year from 8,620 in 2009 reflecting mainly the increase in commercial and rural banks' branches or agencies.

Monetary authorities led by BSP Governor Amando M. Tetangco Jr. believed that 2010 was a banner year for Philippine banks contributing largely to the country's stronger-than-expected economic growth amid the fragile recovery in advanced economies led by the US as well as the debt crisis in Europe.

Tetangco earlier said that the country's sound, stable, and liquid banking system was one of the reasons behind the sustained economic growth after the industry posted healthy growth rates in lending, deposits, and profitability in 2010.

 

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