Russia: Hypersonic missiles used to destroy weapons depot in western Ukraine

Above, an airman examines MiG-31K fighter of the Russian air force carrying a Kinzhal hypersonic cruise missile on Feb. 19, 2022. (Russian Defence Ministry/AFP)
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Updated 19 March 2022
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Russia: Hypersonic missiles used to destroy weapons depot in western Ukraine

  • First use of the Kinzhal hypersonic weapons for ‘special military operation’ in pro-Western Ukraine

MOSCOW: Russia used its newest Kinzhal hypersonic missiles for the first time in Ukraine on Friday to destroy a weapons storage site in the country’s west, the defense ministry said.
“The Kinzhal aviation missile system with hypersonic aeroballistic missiles destroyed a large underground warehouse containing missiles and aviation ammunition” in the village of Deliatyn in the Ivano-Frankivsk region,” the Russian defense ministry said Saturday.
State news agency RIA Novosti said it was the first use of the Kinzhal hypersonic weapons during what Moscow calls a “special military operation” in pro-Western Ukraine.


BlackRock signs $5bn deal with PIF to launch Riyadh-based investment platform 

Updated 5 min 26 sec ago
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BlackRock signs $5bn deal with PIF to launch Riyadh-based investment platform 

RIYADH: BlackRock Saudi Arabia and the Public Investment Fund on Tuesday signed a memorandum of understanding for the establishment of a Riyadh-based multi-asset class investment platform.

The platform will be anchored by an initial investment mandate of up to $5 billion from PIF, subject to the achievement of agreed milestones between the parties, said a press release.

BlackRock Riyadh Investment Management will encompass investment strategies across a range of asset classes, all of which are expected to be managed by a Riyadh-based portfolio management team and supported by BlackRock’s industry-leading global asset management platform.

PIF is playing a key role in driving the Kingdom’s economic transformation and diversification. Since 2017, the sovereign wealth fund has created 94 new companies in the Kingdom and created over 644,000 direct and indirect jobs.

According to the release, “BRIM will seek to support foreign institutional investment into Saudi Arabia and further enhance the Saudi asset management industry; broaden local capital markets while driving investor diversification across asset classes; and facilitate knowledge sharing and the development of Saudi-based asset management talent.”

Larry Fink, chairman and CEO of BlackRock, said: “We are excited to build on the deep partnership we have developed with PIF over many years to launch this first-of-its-kind international investment management platform in Saudi Arabia.

“The continued growth of the Kingdom’s capital markets and diversification of its financial sector will contribute to future prosperity for its citizens, the competitiveness of its companies, and the resilience of its economy.” 

He said the Kingdom has become an “attractive destination for international investment as Vision 2030 comes to life, and we are pleased to offer investors from around the world the opportunity to take part in this exciting, long-term opportunity.” 

BRIM will be fully integrated with BlackRock’s investment capabilities and operating platform benefiting from global market expertise, thought leadership, and technology, while facilitating knowledge sharing and further enhancing local investment capabilities.  

Yazeed A. Al-Humied, deputy governor and head of MENA Investments at the wealth fund, said: “Partnering with leading global international companies and asset managers like BlackRock is part of PIF’s growth strategy. This new landmark agreement represents a step forward in PIF’s work in making the Saudi investment and asset management market more internationally diverse and more dynamic.”

BlackRock’s Financial Markets Advisory group aims to support adjacent initiatives to deepen capital markets and enhance market structure.

“BRIM intends to invest in supporting infrastructure, as well as investment research capabilities to boost local insights, through recruiting locally and relocating experienced investment professionals. This includes the launch of the BRIM Graduate Development Program, the establishment of a partnership between PIF Academy and the BlackRock Educational Academy, and industry training and development events,” the release added.

The non-binding MoU is subject to satisfying certain necessary conditions, regulatory approvals, and fulfilling specified milestones.

In October 2023, PIF launched its Managers’ Gate platform and the Portfolio Management Development Program during the PIF Asset Management Forum. Managers’ Gate involves a digital platform for collaboration between PIF and external fund managers. 


UNICEF demands immediate ceasefire in southern Lebanon, protection of children

Updated 41 min 45 sec ago
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UNICEF demands immediate ceasefire in southern Lebanon, protection of children

  • Israeli airstrikes destroy houses, wounding individuals
  • Students from the American University of Beirut and the Lebanese American University called on their administrations “to boycott companies and institutions supporting Israel”

BEIRUT: Lebanon’s Disaster Risk Management Unit announced that the total death toll from Israeli attacks since Oct. 8 has reached 438 people.

According to the latest report issued by the Lebanese Ministry of Health, eight children were among the dead and 75 children were among the 1,359 people injured since the escalation of hostilities.

The UN Children’s Fund expressed its concern over “the continuing hostilities in southern Lebanon that are taking a devastating toll on the population, forcing around 90,000 people, including 30,000 children, from their homes.”

UNICEF called for “an immediate ceasefire and the protection of children and civilians,” and indicated that “the increase in armed conflict has damaged infrastructure and civilian facilities, causing severe damage to basic services that children and families depend on, including nine water stations serving 100,000 people at least.

“More than 70 schools are currently closed, affecting around 20,000 students and significantly affecting their education. Around 23 healthcare facilities — serving 4,000 people — are closed due to the hostilities.”

UNICEF’s representative to Lebanon, Edouard Beigbeder, expressed the organization’s deep concern. “As the conflict impacting the south of Lebanon is in its seventh month, we are deeply alarmed by the situation of children and families who have been forced from their homes and the profound long-term impact the violence is taking on children’s safety, health, and access to education.

“As long as the situation remains unstable to this extent, more children will suffer,” Bigbeder warned. “Protection of children is an obligation under the International Humanitarian Law and every child deserves to be safe.”

In a statement, UNICEF indicated that before the outbreak of the conflict, basic services in Lebanon, including health and education systems, were in danger of collapsing after years of overwork. The unprecedented economic and financial crises that have hit the country since 2019 have exacerbated existing economic vulnerabilities.

Following the displacement of residents from the southern border region, UNICEF, in collaboration with its partners, has been providing “crucial aid to affected families seeking refuge in shelters. Emergency cash assistance, facilitated in partnership with the Ministry of Social Affairs, has been extended to meet the immediate needs of 85,000 individuals. Some displaced children have managed to resume their education in official schools, receiving essential supplies and transportation support.”

On Tuesday, hostilities persisted intermittently on the southern front between Hezbollah and the Israeli military.

An Israeli airstrike targeted a house along the Kafr Kila — Al-Adisa road, destroying it and causing severe damage to nearby properties and homes. Additional Israeli airstrikes struck homes and commercial establishments in the towns of Aita Al-Shaab, Yaroun, Jebbayn, the outskirts of Naqoura, Alma Al-Shaab, and Jabal Al-Labouneh.

In solidarity with Gaza and echoing student activism in US universities, Lebanese university students organized sit-ins on campus or nearby areas, brandishing Lebanese and Palestinian flags and demanding the liberation of Palestine and a cessation of attacks on southern Lebanon.

Students from the American University of Beirut and the Lebanese American University in Beirut called on their administrations “to boycott companies and institutions supporting Israel.”

Similar demonstrations unfolded in several private universities across Lebanon, including Beirut Arab University, Lebanese International University, Saint Joseph University, Haigazian University, and Holy Spirit University of Kaslik.


US envoy hosts Pakistan cricket team in display of support ahead of T20 World Cup

Updated 30 April 2024
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US envoy hosts Pakistan cricket team in display of support ahead of T20 World Cup

  • Pakistan’s preparations for the mega event that will be co-hosted by the West Indies and the US
  • Both Pakistan, US have been slated to play within the same group stage and will compete on June 6

ISLAMABAD: United States (US) Ambassador to Pakistan Donald Blome held a meet-and-greet session with the Pakistan cricket team at the US embassy in Islamabad in a display of support for the ‘Green Shirts’ ahead of the highly anticipated Twenty20 World Cup 2024, the US embassy said on Tuesday.

The development came amid Pakistan’s preparations for the mega event that will be co-hosted by the West Indies and the US in June.

Ambassador Blome welcomed the Pakistan team and cricket board chairman, Mohsin Naqvi, at his residence and extended his best wishes for the matches in the US.

“In dual gestures of sports diplomacy, Ambassador Blome presented the team members with a commemorative embassy cricket ball and autographed softball bat,” the US embassy said in a statement.

“The Pakistani team reciprocated by presenting the Ambassador with a signed cricket bat and team jersey.” 

The US envoy later participated in an impromptu cricket demonstration with members of the Pakistan side.

Both Pakistan and the US have been slated to play within the same group stage and will compete in a highly anticipated game scheduled for June 6.

Organizers of the T20 World Cup games in the US have said that early ticket sales showed there was a huge demand for the sport in the country.

The highly anticipated clash in New York between cricket rivals Pakistan and India was over-subscribed by 200 times in the public ballot for tickets, the International Cricket Council said in Feb.

The 34,000-seat temporary venue, Nassau County International Cricket Stadium on Long Island, is already assured of a sell-out crowd for the June 9 encounter.


Iran commutes a tycoon’s death sentence to 20 years in prison

Updated 30 April 2024
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Iran commutes a tycoon’s death sentence to 20 years in prison

  • Babak Zanjani was sentenced to death in 2016 over a number of charges
  • An appeal for amnesty by Zanjani was reviewed and his death sentence was “commuted to a 20-year prison term

TEHRAN: Iran’s judiciary said Tuesday that it commuted a death sentence for a tycoon to 20 years in prison after he returned around $2.1 billion in assets from illegally selling oil abroad, the official IRNA news agency reported.
Babak Zanjani, 48, was sentenced to death in 2016 over a number of charges, including money laundering, forgery and fraud that disrupted the country’s economy.
IRNA quoted judiciary spokesman Asghar Jahangir as saying that an appeal for amnesty by Zanjani was reviewed and his death sentence was “commuted to a 20-year prison term after approval by the Supreme Leader.”
Ayatollah Ali Khamenei has the final say on all state matters and occasionally issues pardons.
Jahangir said as part of Zanjani’s 2016 sentence, he had the right to an amnesty or commutation of his death sentence if he returned the assets, compensated for damages and expressed regret for wrongdoing. The spokesman said that Zanjani cooperated with the judiciary to locate the assets abroad in recent years while he was in prison, and all the money was returned.
Zanjani was arrested in 2013 shortly after the election of then President Hassan Rouhani as part of a crackdown on alleged corruption during the rule of former President Mahmoud Ahmadinejad.
Authorities said then that Zanjani owed more than 2 billion euros ($2.1 billion) for oil sales he made on behalf of Ahmadinejad’s government. Zanjani was one of Iran’s wealthiest businessmen, with a fortune worth an estimated $14 billion.
The commutation of Zanjani’s sentence indicates that Iran’s government is in need of revenue after years of US sanctions on the country.
In 2018, then President Donald Trump pulled the US out of a nuclear deal with Iran that had aimed to lift sanctions on Iran in return for the capping of the country’s nuclear activities. Since then, Iran has found it difficult to sell its crude, the country’s main source of foreign revenue. After Trump’s unilateral withdrawal from the deal, Iran’s rial currency tumbled.
In 2014, Iran executed another billionaire businessman, Mahafarid Amir Khosravi, for a $2.6 billion state bank scam in Iran.


UN chief says ‘incremental progress’ toward averting Gaza famine

Updated 30 April 2024
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UN chief says ‘incremental progress’ toward averting Gaza famine

  • Guterres said a major obstacle to distributing aid across Gaza is a lack of security for aid workers and civilians

UNITED NATIONS: United Nations Secretary-General Antonio Guterres on Tuesday said there has been “incremental progress” toward averting “an entirely preventable, human-made famine” in the northern Gaza Strip, but much more is urgently needed.
He specifically called on Israel to follow through on its promise to open “two crossing points between Israel and northern Gaza, so that aid can be brought into Gaza from Ashdod port and Jordan.”
Guterres also told reporters that a major obstacle to distributing aid across Gaza is a lack of security for aid workers and civilians.
“I again call on the Israeli authorities to allow and facilitate safe, rapid and unimpeded access for humanitarian aid and humanitarian workers, including UNRWA, throughout Gaza,” he said.