Orascom Telecom Holding SAE has announced that they would like to get paid for their telecom services that they will be providing in North Korea by opening up their own bank and presumably handling subscriber payments and financing of that oh-so-chic $700 3G cell phone.
There were times that, out of my personal budget, payments to Verizon and Visa were some of my biggest monthly expenses (aside from rent). Looks like Orascom understands this as well.
“This is a big deal, especially as far as North Korea is concerned, because the current banking system is virtually non- existent,” - Marcus Noland of the Peterson Institute for International Economics
Well, today’s the day - Orascom Telecom is to launch a 3G mobile telephone network today in Pyongyang. That is despite the fact that cell phones are still technically banned in the country and also despite the fact that the Dear Leader is said to be recovering from a reported stoke.
As you may recall, having cell phones in North Korea is not new as they have had GSM service in operation from 2002 to 2004. In May 2004, cell phone use was banned due to its connection to a an apparent assassination attempt on Kim Jong-il at a train station in Ryongchon.
The 25-year-license to operate in the reclusive state was granted to Orascom subsidiary CHEO Technology JV Co., which is 75 percent owned by the Egyptian telecommunications firm. The remaining stake is held by state-owned Korea Post and Telecommunications Corp.
The on-again, off-again relationships used by North Korea to play China off against Russia is a familiar pattern used quite effectively over the years to keep both at arms length and from gobbling up the DPRK as a satellite country.
And with Russia’s announcement that they will continue to supply fuel oil shipments to the DPRK may show that Russia is now “on-again”.
If North Korea follows through on some speculations of wanting to cause a renewed sense of crisis in the Obama administration by testing another Nuke, the relationship with China will definitely be “off-again”.
To, put an exclamation point on the legacy of the unpopular outgoing US President, an Iraqi journalist gave the ultimate arabic insult by throwing - and very accurately I might add - both of his shoes at George Bush.
Every action has a reaction and this appears to be the latest and most memorably symbolic reaction to the Iraqi war.
We’ve already opined on the diminished standing of the USA in the world’s eyes, but this is adding insult to injury.
The Maliki government will most likely prosecute this journalist to the fullest extent of whatever laws may apply, but in the end we also know that many other Iraqis probably share this man’s feelings toward the US and specifically, George Bush.
Here in China, some locals are watching with keen interest on what will become of this journalist, for if such a thing happened here, that would most likely be the last we would see of him - ever…
Should we be prepared to see barefoot journalists at all official press conferences now?