Türkiye raises tariffs on US goods; New Zealand bans foreigners from buying homes

South Korea and North Korea have high expectations for the 3rd Summit.

The leaders of South Korea and North Korea will meet for the third time in September 2018.

South Korean President Moon Jae-in said on August 15 that the third South Korea-North Korea Summit scheduled for September 2018 will serve as a lever for denuclearization and ending the Korean War.

Speaking at a ceremony to mark the Korean Peninsula's liberation from Japanese colonial rule (1910-1945), the South Korean president reaffirmed his commitment to ending the division of the two Koreas, saying that the two sides can only be "truly liberated" when they establish lasting peace and build a common economic community.

It is expected that Mr. Moon Jae-in will visit North Korea and hold his third bilateral meeting with the North Korean leader in September 2018.

Türkiye raises tariffs on many US imports

Photo: Bloomberg

Turkey has officially increased tariffs on some imported goods from the US, Vice President Fuat Oktay said. According to Mr. Fuat Oktay, the items with higher tariffs compared to before include passenger cars, alcohol, and cigarettes. The tax rate on passenger cars increased by 120%, alcohol by 140%, and cigarettes by 60%.

This move by Türkiye is in response to what is considered intentional US actions to cause difficulties for the Turkish economy.

One of the sources of tension between the two NATO allies is the detention of an American pastor by the Turkish government and a number of diplomatic issues between the two countries. The US action has caused the Turkish lira to hit a record low, falling 40% against the US dollar.

Italy demands resignation of head of company managing collapsed Morandi bridge

Minister of Transport and InfrastructureItaly's Danilo Toninelli on August 15 asked senior leaders of the company managing the Morandi Bridge in Genoa to resign, after the bridge collapsed on August 14, killing at least 38 people.

Mr. Danilo Toninelli said that the Italian government will consider revoking the road management license of Autostrade per l'Italia, a unit of Atlantia Group, and applying financial penalties to this Group.

Also on August 15, Autostrade per l'Italia confirmed that the agency had conducted regular and thorough inspections before the disaster. The company stressed that the bridge's maintenance process was based on the results of the inspections and had been approved by the Italian Ministry of Transport.

Hun Sen's party won all 125 seats in the Cambodian National Assembly.

On August 15, the spokesman of the National Election Committee of Cambodia, Dim Sonannarom, said that the Cambodian People's Party (CPP), led by Prime Minister Hun Sen, won all 125 seats in the National Assembly in the 2018 general election. The CPP received nearly 4.8 million votes, or nearly 77% of the total valid votes on the general election day of July 29.

The above support rate is much higher than the number of votes the CPP received in the 5th National Assembly election in 2013 (48.83%). In the 2018 general election, the parties that won the next highest number of votes were the Grassroots Democratic Party (GDP) with more than 560,000 votes, the FUNCINPEC party with more than 326,000 votes, the League for Democracy party (LDP) with more than 268,000 votes,...

Suicide bombing in Afghanistan's capital leaves dozens dead and injured

A victim is taken to the emergency room. Source: AP

On August 15, a suicide bombing targeting an educational center in a predominantly Shi'ite Muslim area in the west of Kabul, Afghanistan, killed at least 48 people and injured 67.

The explosion occurred at 3:50 p.m. local time at Mawood, an educational center for students in the capital Kabul. The Afghan Health Ministry said 35 people were injured and taken to the city hospital. No group has yet claimed responsibility for the attack.

Tragic boat accident in Sudan kills 22 students

A woman and 22 students drowned when a boat carrying more than 40 students on their way to school capsized and sank on August 15 on the Nile River north of Sudan's capital Khartoum.

Civil defense forces are trying to carry out rescue work. According to a witness, the accident happened when the boat was crossing a river with strong currents.

Venezuela arrests military general involved in plot to assassinate President

Venezuelan Justice Minister Tarek Saab said the country's security services have issued an arrest warrant for Lieutenant General Alejandro Perez Gamez, a member of the Bolivarian National Guard, for his involvement in the failed attack on President Nicolas Maduro. Also arrested with General Gamez was Colonel Pedro Zambrano Hernandez, also a member of the National Guard.

These are the two highest-ranking officers in the Venezuelan armed forces accused of involvement in this serious incident. So far, Venezuelan authorities have arrested 14 subjects, issued arrest warrants and summoned 27 others. Among the subjects involved are former National Assembly President Julio Borges, currently taking refuge in Colombia, and Congressman Juan Requesens, who has been temporarily detained.

New Zealand bans foreigners from buying houses

In 2017, foreigners bought 2% of homes sold in New Zealand. Photo: Getty Images

On the evening of August 15, with a vote ratio of 63/57, the New Zealand Parliament passed the Foreign Investment Amendment Act, which prohibits foreigners from buying houses in this country.

Under the new law, foreigners will be banned from buying most types of housing in New Zealand, except for newly built apartments in large development areas or multi-storey buildings. However, Australian and Singaporean citizens are exempt from the ban due to their own free trade agreements.

The New Zealand government says the new law is part of a plan to tackle the country's housing shortage and falling home ownership rates.

FBI: Massive ATM attacks worldwide imminent

Illustration: Getty Images

The US security agency has warned banks of a threat of a large-scale cyber attack on cash machines (ATMs) around the world in the coming days. Banks have been warned that they could fall victim to an “unlimited operation” in which millions of US dollars could be withdrawn from cash machines.

Smaller banks with less sophisticated security systems are thought to be most vulnerable to attacks using the “jackpotting” technique, the Daily Telegraph reported. The attacks could affect banks around the world.