Russia Hikes Rates to Highest Since 2003, Adds Capital Controls

Russia Hikes Rates to Highest Since 2003, Adds Capital Controls

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North Korea says latest launch was satellite test

STORY: North Korea claimed that its latest missile test on Sunday was for developing a reconnaissance satellite system. That’s according to state news agency KCNA on Monday, which also published two photos showing the Korean peninsula seen from space. KCNA didn’t elaborate further but authorities in South Korea said the launch appeared to be a ballistic missile, and flew to a maximum altitude of around 390 miles. Seoul said it was fired from an area near the North’s capital Pyongyang, where its international airport is located. Developing a military reconnaissance satellite is among a number of advancements leader Kim Jong Un called for last year, including recently tested hypersonic weapons. Sunday’s launch was the eighth test this year. The test drew international condemnation and officials in South Korea and Japan expressed concern that North Korea could forge ahead with missile development banned by the UN Security Council. North Korea has previously successfully placed at least two satellites in orbit, the last one in 2016. However, neither of those are believed to be working.

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