Russian missiles kill 37 in Ukraine, gut Kyiv children’s hospital

Russian missiles kill 37 in Ukraine, gut Kyiv children’s hospital
Smoke rises up after Russia’s massive missile attack in central Kyiv, Ukraine, Monday, July 8, 2024. A major Russian missile attack across Ukraine killed at least 20 people and injured more than 50 on Monday, officials said, with one missile striking a large childrens hospital in the capital, Kyiv, where emergency crews searched rubble for casualties. (AP)
Short Url
Updated 09 July 2024
Follow

Russian missiles kill 37 in Ukraine, gut Kyiv children’s hospital

Russian missiles kill 37 in Ukraine, gut Kyiv children’s hospital
  • President Volodymyr Zelensky said Russia launched dozens of missiles toward five towns and cities in southern and eastern Ukraine as well as the capital
  • At least 37 people were killed, including three children, with more than 170 wounded, Zelensky sai

Kyiv: Russia attacked cities across Ukraine on Monday with a missile barrage that killed more than three dozen people and ripped open a children’s hospital in Kyiv, an assault condemned as a ruthless attack on civilians.
Dozens of volunteers including hospital staff and rescue workers dug through debris from the Okhmatdyt paediatric hospital in a desperate search for survivors after the rare day-time bombardment, AFP journalists on the scene saw.
President Volodymyr Zelensky said Russia launched dozens of missiles toward five towns and cities in southern and eastern Ukraine as well as the capital.
At least 37 people were killed, including three children, with more than 170 wounded, Zelensky said.
The strikes damaged nearly 100 buildings, including multiple schools and a maternity hospital, he added.
The air force said air defense systems downed 30 projectiles.
“It is necessary to shoot down Russian missiles. It is necessary to destroy the Russian combat aircraft on its bases. It is necessary to take strong steps that will not leave any security deficit,” Zelensky said ahead of a NATO summit where arming Ukraine’s air defenses is expected to top the agenda.
Zelensky called for an emergency meeting of the United Nations Security Council over the barrage and urged Ukraine’s allies to deliver “a stronger response” to Russia’s attack.
Following the strikes, US President Joe Biden on Monday promised “new measures” to boost Ukraine’s air defenses.
“Together with our allies, we will be announcing new measures to strengthen Ukraine’s air defenses to help protect their cities and civilians from Russian strikes,” Biden said.
UN rights chief Volker Turk condemned the “abominable” Russian strikes, while the body’s chief Antonio Guterres said attacking medical facilities was “particularly shocking,” according to his spokesman Stephane Dujarric.
The United States denounced “another savage missile attack on civilians,” while the European Union slammed Moscow for its “ruthless” actions.
France’s foreign ministry called the bombardment of a children’s hospital “barbaric,” Canadian Prime Minister Justin Trudeau described the attack as “abhorrent” and Japan’s government spokesman “strongly condemned” the strike.
Kyiv said the children’s hospital had been struck by a Russian cruise missile with components produced in NATO member countries and announced a day of mourning in the capital.
Russia hit back claiming the extensive missile damage in Kyiv was caused by Ukrainian air defense systems.
Moscow said its forces had struck their “intended targets,” which it added were only defense industry and military installations.
Medical staff acted quickly to move patients and personnel to the facility’s basement after air raid sirens rang out over Kyiv on Monday.
“For some reason, we always thought that Okhmatdyt was protected,” said Nina, a 68-year-old hospital employee.
“We were 100 percent sure that they would not hit here,” she told AFP, describing the frantic rush as staff moved children with IV drips to the bunker.
Officials said the attack had also damaged several residential buildings and an office block in Kyiv where AFP reporters saw cars on fire and shredded trees in charred courtyards.
DTEK, Ukraine’s largest private energy company, said three of its electrical substations had been destroyed or damaged in Kyiv. Russian strikes on electricity infrastructure have already halved Ukrainian generation capacity in recent weeks compared to one year ago.
Russian forces have repeatedly targeted the capital with massive barrages since invading Ukraine in February 2022, and the last major attack on Kyiv with drones and missiles was last month.
The emergency services said 22 people were killed in Kyiv on Monday, including at both medical facilities hit in the attack, and that another 72 had been wounded.
In Zelensky’s hometown of Kryvyi Rig, which has been repeatedly targeted by Russian bombardment, the strikes killed at least 10 and wounded more than 41, officials there said.
In Dnipro, a city of around one million people in the same region, one person was killed and six more were wounded, the region’s governor said, when a high-rise residential building and petrol station were hit.
And in the eastern Donetsk region, where Russian forces have taken a string of villages in recent weeks, the regional governor said three people were killed in Pokrovsk — a town that had a pre-war population of around 60,000 people.
“This shelling targeted civilians, hit infrastructure, and the whole world should see today the consequences of terror, which can only be responded to by force,” the head of Ukraine’s presidential administration, Andriy Yermak, wrote on social media.
Zelensky and other officials in Kyiv have been urging Ukraine’s allies to send more air defense systems, including Patriots, to help fend off deadly Russian aerial bombardment.
“Russia cannot claim ignorance of where its missiles are flying and must be held fully accountable for all its crimes,” Zelensky said in another post on social media.


Saudi Aramco raises February LPG prices

Saudi Aramco raises February LPG prices
Updated 43 sec ago
Follow

Saudi Aramco raises February LPG prices

Saudi Aramco raises February LPG prices

RIYADH: Saudi Aramco has increased the official selling prices for propane and butane for February, according to a statement released on Thursday.

The new prices are set at $635 per tonne for propane and $625 per tonne for butane, reflecting a $10 rise for each product compared to the previous month.

Both propane and butane are types of liquefied petroleum gas, commonly used for heating, vehicle fuel, and as feedstock in the petrochemical industry. Although similar, these gases have different boiling points, making them suitable for a range of specific applications.

Aramco's OSPs for LPG serve as important benchmarks for contracts supplying these products from the Middle East to the Asia-Pacific region.

Propane demand typically peaks in the winter months, as it is a key source of home heating, and this seasonal increase often drives up prices.

The fluctuations in price are a direct reflection of supply and demand dynamics, with colder weather pushing prices higher in line with greater consumption.


Japan protests UN calls to allow women on imperial throne

Japan protests UN calls to allow women on imperial throne
Updated 1 min 27 sec ago
Follow

Japan protests UN calls to allow women on imperial throne

Japan protests UN calls to allow women on imperial throne
Tokyo: Japan said it would not fund a UN women’s rights committee and suspended a member’s visit over calls for the nation to change its male-only imperial succession rules.
Chief cabinet secretary Yoshimasa Hayashi said Thursday that a visit by a member of the UN Committee on the Elimination of Discrimination against Women would be called off, and financial contributions not made.
In October, the UN committee said Japan should “guarantee the equality of women and men in the succession to the throne” in line with “good practices” in other monarchies.
Japan demanded that the committee withdraw its recommendation, saying that the right to succeed the throne was unrelated to human rights and gender discrimination.
Only the sons of royal fathers can become emperor in Japan.
The rule has prompted questions of succession within the ancient imperial family, with Emperor Naruhito’s heir apparent just a few years younger than he is, and the only youthful member in line being 18-year-old Prince Hisahito.
Japan voluntarily gives between 20 to 30 million yen ($130,000 to $194,000) every year to the UN High Commissioner, which administers the women’s rights committee.
None of Japan’s contribution has gone to the committee since at least 2005, according to the foreign ministry, making this week’s funding decision essentially symbolic.
Opinion surveys show that many Japanese voters are sympathetic to the idea of letting women ascend the throne.
But traditionalists say that would fundamentally alter Japan as a nation, and parliamentary discussions on how to address succession have so far reached no conclusions.

Pakistan calls Trump’s proposal to relocate people of Gaza to Egypt and Jordan ‘deeply troubling’

Pakistan calls Trump’s proposal to relocate people of Gaza to Egypt and Jordan ‘deeply troubling’
Updated 5 min 36 sec ago
Follow

Pakistan calls Trump’s proposal to relocate people of Gaza to Egypt and Jordan ‘deeply troubling’

Pakistan calls Trump’s proposal to relocate people of Gaza to Egypt and Jordan ‘deeply troubling’
  • Trump last week told reporters that it was time to “clean out” the besieged Gaza Strip, urging the leaders of Jordan and Egypt to take in Palestinians
  • The proposal was rejected by Palestinian authorities, Egypt and Jordan, while the Arab League warned against any ‘attempts to uproot Palestinian people’

ISLAMABAD: Pakistan’s Foreign Office on Thursday said a proposal by United States (US) President Donald Trump to displace the people of Gaza was “deeply troubling” and “unjust.”

Trump last week told reporters that it was time to “clean out” the besieged Gaza Strip, urging the leaders of Jordan and Egypt to take in Palestinians from Gaza, either temporarily or permanently.

The statement came as a fragile ceasefire and hostage release deal between Israel and Hamas took effect, pausing more than 15 months of war.

Trump’s proposal was roundly rejected by Palestinian authorities, Egypt and Jordan, while the Arab League warned against any “attempts to uproot the Palestinian people from their land.”

“The proposal to displace the people of Gaza is deeply troubling and unjust,” Shafqat Ali Khan, a spokesperson for the Pakistani Foreign Office, told reporters at a weekly press briefing in Islamabad.

“The Palestinian land belongs to the Palestinian people, and the only viable and just option is the two-state solution, according to the UN Security Council resolution.”

Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters.”

The South Asian country has dispatched several relief consignments for Gaza and has previously called for a “concrete plan” to rebuild the territory, following a ceasefire between Israel and Hamas.

During the press briefing, the Foreign Office spokesperson also spoke about a second round of Pakistan-Qatar bilateral consultations in Doha on Feb. 5.

“The deputy prime minister [and] foreign minister, Senator Mohammad Ishaq Dar, will lead Pakistan delegation,” he said. “And besides the dialogue, the deputy prime minister [and] foreign minister will also interact with the Qatari leadership.”

The development comes months after Prime Minister Shehbaz Sharif visited Qatar in Oct. 2024 to bolster economic cooperation between the two countries. In 2022, the Qatar Investment Authority committed $3 billion for projects in

Pakistan, spanning airport management, renewable energy and hospitality.

“The leaders reviewed the entire spectrum of Pakistan-Qatar relations, exploring potential avenues for enhanced cooperation in trade, potential areas of investment, energy, and culture,” Sharif’s office said at the time.

About the repatriation of 22 Pakistani survivors of a boat capsize off Morocco, the Foreign Office spokesperson shared that the first batch of Pakistani nationals, who survived the incident, had arrived in the country, without sharing the number of repatriated Pakistanis.

The boat capsized near Morocco’s coast on Jan. 15 while carrying 86 migrants, including 66 Pakistanis, according to migrant rights group Walking Borders.

“I can inform you today the first batch has arrived through two flights in Islamabad. The Pakistan Embassy in Rabat is in close coordination with Moroccan authorities to oversee the relief effort and finalize the complex repatriation procedure,” he said.

“The welfare of Pakistani nationals abroad remains an important priority of the government and it will continue to work to extend all possible facilitation in this regard.”


Saudi stock market among top regional performers amid upward trend 

Saudi stock market among top regional performers amid upward trend 
Updated 30 January 2025
Follow

Saudi stock market among top regional performers amid upward trend 

Saudi stock market among top regional performers amid upward trend 

RIYADH: The Saudi stock market was among the Arab region’s top performers in December, with the Tadawul index rising 3.39 percent amid improved liquidity and investor confidence, a new report showed. 

At the end of the final month of 2024, TASI closed at 12,037 points, with an average daily trading value of SR5.2 billion ($1.3 billion), bringing the total monthly trading value to SR119.6 billion, according to the Arab Monetary Fund. 

Dubai Financial Market led the regional surge with its DFMGI index rising by 6.42 percent, making it the best-performing exchange during the month. It was followed by the Palestinian and Iraqi stock exchanges, which registered gains of 4.85 percent and 4.14 percent, respectively. 

This helped the AMF’s composite index for Arab financial markets post a 1.03 percent increase in December, as most regional stock markets ended the year on a positive note. The market rally was fueled by improved investor sentiment, easing inflationary pressures, and monetary policy adjustments across several economies. 

Arab markets largely followed the performance of emerging markets. The MSCI Arab Index, which tracks the performance of stock exchanges in the region, increased by 3.46 percent. 

In contrast, global markets showed mixed results. The Nikkei 225 rose by 4.41 percent, while indices such as the FTSE 100 and Dow Jones recorded declines of 1.38 percent and 5.27 percent, respectively.  

Other key regional markets that saw growth included the Abu Dhabi, Kuwait, and Qatar stock exchanges. 

Meanwhile, some markets saw declines, with the Damascus Securities Exchange registering the sharpest drop of 7.64 percent, followed by the Bahrain Bourse at 2.27 percent and the Egyptian Exchange at 1.66 percent.  

In terms of market capitalization, Arab exchanges witnessed a 2.96 percent increase by the end of December, bringing the total market value to approximately $4.4 trillion. Tadawul played a major role in this growth, contributing 1.47 percentage points to the overall market capitalization increase. 

The Beirut Stock Exchange recorded the largest percentage gain at 22.37 percent in market capitalization, followed by Dubai Financial Market at 13.54 percent and the Palestine Stock Exchange at 5.35 percent. 

On the other hand, the Damascus Securities Exchange suffered the most significant decline at 7.40 percent, with the Bahrain and Casablanca exchanges also experiencing contractions.  

Trading activity in the Arab financial markets also saw a sharp increase, with the total value of traded stocks rising by 25 percent compared to November levels. 

The Egyptian Exchange led in trading volume growth, with an increase of 116.74 percent, while the Casablanca and Tunis stock exchanges recorded gains of 199.83 percent and 330.59 percent, respectively. 

However, not all markets shared this momentum, as some, including the Damascus and Abu Dhabi stock exchanges, recorded declines in traded volumes.  

Monetary policy adjustments played a crucial role in market performance. Several central banks in Arab and global markets eased their monetary policies in December, further supporting market liquidity. 

The US Federal Reserve’s decision to cut interest rates led to similar actions in Saudi Arabia, the UAE, Qatar, and Bahrain, among others. The Turkish and Argentine central banks also made significant rate cuts to address domestic economic conditions. 

The overall monetary easing environment contributed to strengthening investor sentiment and boosting equity market performance, the report said. 


Middle East carriers witness 13% cargo demand growth in 2024: IATA

Middle East carriers witness 13% cargo demand growth in 2024: IATA
Updated 30 January 2025
Follow

Middle East carriers witness 13% cargo demand growth in 2024: IATA

Middle East carriers witness 13% cargo demand growth in 2024: IATA
  • Globally, total air cargo demand surged by 11.3 percent in 2024 compared to the previous year
  • International routes witnessed several issues, including attacks on maritime vessels in the Red Sea

RIYADH:  Middle Eastern air carriers saw a 13 percent increase in air cargo demand in 2024 compared to the previous year, driven by the e-commerce boom and various ocean freight restrictions, according to an analysis.

In its latest report, the International Air Transport Association said airlines in the Middle East region handled 13.6 percent of the cargo transported internationally in 2024. 

The growth of the Middle East’s aviation sector is closely tied to the region’s economic diversification efforts, particularly in Saudi Arabia, which seeks to reduce its reliance on oil revenues. As part of its National Aviation Strategy, the Kingdom aims to handle 4.5 million tonnes of cargo annually by 2030 and expand its network with over 250 direct destinations from the country’s airports to transnational markets.

Globally, total air cargo demand, measured in available cargo tonne-kilometers, surged by 11.3 percent in 2024 compared to the previous year.

International routes witnessed several issues, including attacks on maritime vessels in the Red Sea, which saw the number of ships using the Suez Canal drop 22 percent in 2023-24 compared to the previous year. 

Due to escalating tensions in waterways, several shipping companies diverted their vessels around the Cape of Good Hope, which increased delivery times by 10 days or more on average.

“Air cargo was the standout performer in 2024 with airlines moving more air cargo than ever before. Importantly, it was a year of profitable growth. Demand, up 11.3 percent year-on-year, was boosted by particularly strong e-commerce and various ocean shipping restrictions,” said Willie Walsh, director-general of IATA. 

He added: “This, combined with airspace restrictions which limited capacity on some key long-haul routes to Asia, helped to keep yields at exceptionally high levels. While average yields continued to soften from peaks in 2021-2022 they averaged 39 percent higher than 2019.”

According to the latest analysis, Middle Eastern carriers’ air cargo capacity expanded by 5.5 percent in 2024 compared to the previous year. 

In December, air carriers in the region witnessed a cargo demand growth of 3.3 percent year on year, while capacity rose by 0.2 percent. 

APAC region driving growth

According to the report, airlines operating in the Asia-Pacific region witnessed a 14.5 percent year-on-year growth in air cargo demand, with capacity rising by 11.3 percent during the same period. 

APAC airlines also handled 34.2 percent of global air cargo in 2024.

European carriers experienced an 11.2 percent year-on-year demand growth in 2024, while capacity rose 7.8 percent. 

Air carriers in Europe also handled 21.5 percent of the total air cargo. 

Latin American airlines saw a 12.6 percent surge in demand, handling 2.9 percent of global air cargo last year.

African airlines saw an 8.5 percent year-on-year demand boost for air cargo in 2024. 

The capacity of air carriers in Africa also rose by 13.6 percent in 2024 compared to the previous year.  

North American carriers saw 6.6 percent year-on-year demand growth for air cargo in 2024 — the lowest of all regions. 

Future outlook

According to IATA, global air cargo demand growth is expected to expand by 5.8 percent in 2025. 

“Economic fundamentals point to another good year for air cargo — with oil prices on a downward trajectory and trade continuing to grow. There is no doubt, however, that the air cargo industry will be challenged to adapt to unfolding geopolitical shifts,” said Walsh. 

“The first week of the Trump administration demonstrated its strong interest in using tariffs as a policy tool that could bring a double whammy for air cargo — boosting inflation and deflating trade,” he added.