Barack Obama 'Not Optimistic' On Syria As Aleppo Pummelled

November 21, 2016

Damascus/Syria, Nov 21: US President Barack Obama said he is "not optimistic" about Syria's future, as the UN warned time is running out to avoid a humanitarian catastrophe in Aleppo which has been pounded by air strikes for nearly a week.

obamaGovernment forces launched a ferocious assault last Tuesday to recapture eastern Aleppo, killing 115 civilians so far. In fresh fighting on Sunday at least eight children died when rebel rocket fire hit their school in the government-controlled west.

Obama warned that Syria's second city was likely to fall, and that Russian and Iranian backing for Syrian leader Bashar al Assad had made the situation untenable for the opposition.

"I am not optimistic about the short-term prospects in Syria," he said Sunday at a summit of Pacific leaders in Lima.

"Once Russia and Iran made a decision to back Assad in a brutal air campaign... it was very hard to see a way in which even a trained and committed moderate opposition could hold its ground for long periods of time."

Obama earlier Sunday urged greater efforts to end the violence when he met Russian President Vladimir Putin at the Asia-Pacific Economic Cooperation forum.

But in Damascus, UN envoy Staffan de Mistura was rebuffed on a truce proposal that would allow the opposition to administer the city's rebel-held east.

"We are running out of time, we are running against time," de Mistura said after meeting Foreign Minister Walid Muallem.

Muallem said he had rejected the proposal, under which jihadist forces would leave and the government would recognise the opposition administration in the east which has been bombarded by air strikes, barrel bombs and artillery.

"How is it possible that the UN wants to reward terrorists?" he asked.

Aid agencies fear that instead of a humanitarian or a political initiative there will be "an acceleration of military activities" in eastern Aleppo and elsewhere, de Mistura told journalists.

"By Christmas... due to military intensification, you will have the virtual collapse of what is left in eastern Aleppo; you may have 200,000 people moving towards Turkey -- that would be a humanitarian catastrophe."

'War crimes'

On Sunday, rebels retaliated with a barrage of rockets into government-held western Aleppo, state media said, hitting a primary school and killing at least eight children.

Syrian television showed bloodied and weeping children being treated in hospital, and an AFP journalist saw pupils being rushed from the school after the attack.

But regime forces broke through into the city's northeastern area of Massaken Hanano, sparking fierce clashes, the Syrian Observatory for Human Rights said.

It also reported heavy fighting as the army sought to gain ground in two eastern neighbourhoods.

The Britain-based monitoring group said at least 19 civilians including five children were killed in the east on Sunday. That brought to 115 the number of civilians killed since the bombardment resumed.

UN chief Ban Ki-moon condemned the indiscriminate shelling, saying it had killed and maimed civilians, destroyed schools and left the city's east without functioning hospitals.

"The Secretary-General reminds all parties to the conflict that targeting civilians and civilian infrastructure is a war crime," his office said in a statement.

"Those responsible for these and other atrocities in Syria, whoever and wherever they are, must one day be brought to account."

On Monday the UN Security Council is scheduled to meet in New York to discuss humanitarian efforts in Syria. Last week it decided to extend for another year a probe into chemical attacks in the country and who is responsible.

The regime offensive on eastern Aleppo has forced hospitals and schools to close and destroyed facilities for hard-pressed rescue workers.

Shelling on Friday destroyed one of the last hospitals there and staff were also forced to evacuate the area's only children's hospital because of repeated attacks.

Russia, which intervened militarily last year, says it is not involved in the current assault on Aleppo, and is instead concentrating its firepower on opposition and jihadist forces in neighbouring Idlib province.

But Damascus and its allies have made clear they want rebels expelled from eastern Aleppo, which fell from regime control in mid-2012.

More than 250,000 people remain in eastern Aleppo, which has been sealed off since government forces surrounded it in mid-July. No aid has entered the east since then and the siege has created food and fuel shortages.

More than 300,000 people have been killed in Syria since the conflict began with anti-government protests in March 2011.

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

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June 1,2020

Washington, Jun 1: As protesters gathered outside the White House on Friday night in Washington DC, US President Donald Trump was briefly taken to the White House underground bunker, The New York Times reported citing a person having firsthand knowledge about the incident.

Trump was there for less than an hour before being brought upstairs. After hundreds of people surged towards the White House on Friday, Secret Service and the United States Park Police officers sought to block them.

Trump's team was surprised by the protests that were witnessed outside the White House on Friday night, according to the US daily. It is, however, unclear if Melania Trump and Barron Trump were also taken down with him.

in response to the continuing protests against the death of African-American man George Floyd in police custody.

National Guard members have been activated in 15 states and Washington, DC with another 2,000 prepared to activate if needed.

Demonstrators across the United States have been protesting since May 25, when George Floyd, a 46-year-old African-American man, died under the police custody in the city of Minneapolis.

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