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New South Korean President takes oath, vows to rebuild nation

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Yoon Suk-yeol, a former prosecutor, took the oath of office as the 13th President of South Korea on Tuesday and vowed to rebuild the nation on the foundation of a liberal democracy and market economy.

The 61-year-old kicked off his five-year term at midnight in the underground bunker of the new presidential office building in Yongsan by receiving a briefing from the Joint Chiefs of Staff.

To usher in the new administration, a bell-ringing ceremony was held at the stroke of midnight in downtown Seoul.

His inauguration ceremony was attended by 41,000 people, including foreign envoys such as US Second Gentleman Douglas Emhoff and Chinese Vice President Wang Qishan.

In his inaugration address, Yoon outlined various challenges facing the country and the world from pandemics and rearrangements in global supply chains to record-low growth and rising unemployment in South Korea.

“It is our generation’s calling to build a nation that espouses liberal democracy and ensures a thriving market economy, a nation that fulfils its responsibility as a trusted member of the international community, and a nation that truly belongs to the people,” he said before some 41,000 people gathered at the ceremony, noting that he is mindful of his “solemn duty to rebuild
this great nation”.

The new President also offered North Korea an olive branch amid its increased saber rattling

“While North Korea’s nuclear weapon programmes are a threat not only to our security and that of Northeast Asia, the door to dialogue will remain open so that we can peacefully resolve this threat.

“If North Korea genuinely embarks on a process to complete denuclearization, we are prepared to work with the international community to present an audacious plan that will vastly strengthen North Korea’s economy and improve the quality of life for its people,” he added.

Yoon takes over at a time when South Korea is struggling to deal with economic challenges stemming from the Covid pandemic, the war in Ukraine, the threat of North Korea’s nuclear and missile programs and other factors resulting in the phenomenon of “three simultaneous highs” in inflation, interest rates and exchange rates.

Both economic security and North Korea are expected to feature high on the agenda of Yoon’s first summit with US President Joe Biden in Seoul on May 21.

On the domestic front, he faces a hostile National Assembly controlled by the main opposition Democratic Party.

Crime

Intelligence alert: Pak-backed D-company gears up to push in fake notes worth crores before polls in India

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New Delhi, Jan 27: With back to back elections set to be held in India this year, Intelligence agencies have warned that the fake currency racket is bound to increase. The Dawood Syndicate which controls this racket from Pakistan, has increased printing of fake notes and the same is being moved to Bangladesh and Nepal.

An Intelligence Bureau official said that they have noticed heightened activity in Malda, West Bengal which is the main landing point for fake currency from the neighbouring country. Those running the racket in Malda have been preparing to receive a massive consignment from Bangladesh, the official added.

Another official said that the Dawood Syndicate will also look to move fake currency through the Nepal border and hence there is a heightened alert. These elements are trying to take advantage of the fact that the security mechanism will be more focussed on the elections and hence they would be able to get away with their nefarious activities.

Officials say that it is important that this menace is controlled at the border itself. Once the fake currency enters the country it is next to impossible to detect, the official added.

The Intelligence agencies who work closely with the forensics department have learnt that the notes are of very high quality and forensic experts believe that the notes are printed on highly sophisticated machines. The Pakistan establishment has invested huge capital to ensure that these notes cannot be detected by the Indian agencies.

Officials say that the fake currency has the perfect watermark formulation. This indicates that the notes are printed on regular currency making machines, which can be owned only by a state.

Intelligence agencies have learnt that fake currency notes to the tune of crores of Rupees were moved into Bangladesh. Most of the fake notes were dropped off using the sea route, the agencies have learnt. The D Syndicate finds this route easier today as there are no checks for Pakistan, thanks to Dhaka’s new soft policy towards Islamabad.

Under Muhammad Yunus the sea route was opened up to Pakistan for the first time. Indian agencies suspect that huge consignments of arms and ammunition have reached Bangladesh using the sea route. The same route is also being used to push the fake currency into Bangladesh.

The challenge would however be to bring it into India. The D Company will try to use both the Nepal and Bangladesh border to smuggle in the fake currency, officials say. While the consignment that comes in from Nepal would be taken to Bihar, the fake notes at the Bangladesh border will be moved into Malda.

From here the notes would be distributed to other parts of the country. Another official added that once the notes land in India, the target states would be the ones where elections are scheduled to be held.

Elections are due in Assam, West Bengal, Tamil Nadu, Kerala and Puducherry. The polls are scheduled to be held between March and May 2026. Officials say that the D gang would try and move most of the fake notes into these states since the security agencies would be too busy with the elections.

The agencies are keeping a close watch on the border areas. The alert is high in Malda and the neighbouring areas, as the Intelligence agencies say that the biggest consignment would land in these places.

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PM Modi welcomes UAE President at airport, hails strong friendship between both nations

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New Delhi, Jan 19: In a special gesture, Prime Minister Narendra Modi on Monday travelled to the Delhi airport and personally welcomed UAE President Shaikh Mohamed bin Zayed Al Nahyan as he began his third official visit to the country since assuming office.

Both leaders also travelled together in the same car from the airport, showcasing their longstanding friendship and the multi-faceted partnership between the two countries. This is the UAE President’s fifth visit to India over the past decade.

“Went to the airport to welcome my brother, His Highness Shaikh Mohamed bin Zayed Al Nahyan, President of the UAE. His visit illustrates the importance he attaches to a strong India-UAE friendship. Looking forward to our discussions,” PM Modi posted on X.

Shaikh Mohamed bin Zayed Al Nahyan’s India visit builds on the strong momentum generated by recent high-level exchanges, including the visit of Shaikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi in September 2024, and the visit of Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Defence of the UAE and Crown Prince of Dubai in April 2025.

“India and the UAE share warm, close, and multi-faceted relations, underpinned by strong political, cultural, and economic ties. The two countries are among each other’s top trading and investment partners, bolstered by the Comprehensive Economic Partnership Agreement (CEPA), the Local Currency Settlement (LCS) system, and the Bilateral Investment Treaty. India and the UAE also enjoy a robust energy partnership, including long-term energy supply arrangements,” read a statement issued by the Ministry of External Affairs (MEA) ahead of the UAE President’s visit.

“The visit will provide an opportunity for the two leaders to chart new frontiers for the India–UAE Comprehensive Strategic Partnership. It will also enable an exchange of views on regional and global issues of mutual interest, where India and the UAE share a high degree of convergence,” it added.

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Trump says US reshaped global dynamics

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Washington, Jan 17: President Donald Trump said that his administration had reshaped global dynamics through assertive diplomacy and military action, laying out an expansive account of US foreign policy and economic gains during remarks at a Florida event.

Trump said US actions abroad had produced swift and decisive outcomes. “We have peace in the Middle East. Nobody thought that was going to be possible,” he said, pointing to what he described as multiple agreements reached within a year.

He also claimed “US intervention” helped avert conflict between two nuclear nations — India and Pakistan, and said the effort saved “many millions of people.”

Trump said Iran’s nuclear ambitions had been dismantled, declaring that the United States had “obliterated Iran’s nuclear enrichment capacity with Operation Midnight Hammer.” He also cited operations against militant leaders, including the founder of ISIS and Iranian General Qassem Soleimani, arguing that decisive military action had strengthened US security and deterrence.

Trump said the United States had apprehended Venezuelan President Nicolas Maduro, describing him as an “outlaw” and asserting that “no other nation in the world could have done” what the United States achieved. He said the move was part of a broader effort to reset relations and relieve regional pressures.

The president said the United States had attracted unprecedented levels of foreign investment. “We have $18 trillion being invested,” he said, adding that the total could rise further.

He credited tax cuts, regulatory rollbacks and tariffs for driving growth and said manufacturing activity was expanding at historic levels. “We’re building more factories in the United States now than at any time in our history,” he said, citing both automotive and advanced technology sectors.

Trump said tariffs played a central role in pushing companies to shift production to the United States. “They don’t want to pay the tariffs,” he said, calling it a “pretty simple formula.” He also pointed to stock market performance and retirement savings, saying 401(k) accounts were “doing better than they’ve ever done before.”

On immigration, Trump said his administration had fully secured the southern border, describing illegal crossings as an “invasion” that had been halted. He said enforcement efforts focused on violent criminals and gangs, while legal immigration continued through established processes.

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