Nearly 300 killed in deadliest single attack in Somalia’s history

Agencies
October 16, 2017

Mogadishu, Oct 16: The Mogadishu bombing is one of the deadliest attacks in sub-Saharan Africa, larger than the Garissa University attack in Kenya in 2015.

The most powerful bomb blast ever witnessed in Somalia’s capital killed 276 people with around 300 others injured, the country’s information minister said early today, making it the deadliest single attack in this Horn of Africa nation.

The toll could continue to rise.

In a tweet, Abdirahman Osman called the attack “barbaric” and said countries including Turkey and Kenya had already offered to send medical aid. Hospitals were overwhelmed a day after a truck bomb targeted a crowded street near key government ministries, including foreign affairs.

As angry protesters gathered near the scene of the attack, Somalia’s government blamed the al-Qaeda-linked al-Shabab extremist group for what it called a “national disaster.” However, Africa’s deadliest Islamic extremist group, which often targets high-profile areas of the capital, had yet to comment.

Al-Shabab earlier this year vowed to step up attacks after both the Trump administration and Somalia’s recently elected president announced new military efforts against the group.

The Mogadishu bombing is one of the deadliest attacks in sub-Saharan Africa, larger than the Garissa University attack in Kenya in 2015 and the US Embassy bombings in Kenya and Tanzania in 1998.

Doctors at Mogadishu hospitals struggled to assist badly wounded victims, many burned beyond recognition. “This is really horrendous, unlike any other time in the past,” said Dr Mohamed Yusuf, the director of Medina hospital.

Inside, bleary-eyed nurses transported a man whose legs had been blown off. He waited as surgeons attended to another badly injured patient. Exhausted doctors struggled to keep their eyes open, while screams from victims and newly bereaved families echoed through the halls.

“Nearly all of the wounded victims have serious wounds,” said nurse Samir Abdi. “Unspeakable horrors.” The smell of blood was strong.

A teary-eyed Hawo Yusuf looked at her husband’s badly burned body. “He may die waiting,” she said. “We need help.”

Ambulance sirens echoed across the city as bewildered families wandered in the rubble of buildings, looking for missing relatives. “In our 10 year experience as the first responder in #Mogadishu, we haven’t seen anything like this,” the Aamin Ambulance service tweeted.

Grief overwhelmed many.

“There’s nothing I can say. We have lost everything,” wept Zainab Sharif, a mother of four who lost her husband. She sat outside a hospital where he was pronounced dead after hours of efforts by doctors to save him.

The country’s Somali-American leader, President Mohamed Abdullahi Mohamed, declared three days of mourning and joined thousands of people who responded to a desperate plea by hospitals to donate blood. “I am appealing all Somali people to come forward and donate,” he said.

Mogadishu, a city long accustomed to deadly bombings by al-Shabab, was stunned by the force of Saturday’s blast. The explosion shattered hopes of recovery in an impoverished country left fragile by decades of conflict, and it again raised doubts over the government’s ability to secure the seaside city of more than 2 million people.

“They don’t care about the lives of Somali people, mothers, fathers and children,” Prime Minister Hassan Ali Khaire said of the attackers. “They have targeted the most populated area in Mogadishu, killing only civilians.”

Rescue workers searched for survivors trapped under the rubble of the largely destroyed Safari Hotel, which is close to Somalia’s foreign ministry. The explosion blew off metal gates and blast walls erected outside the hotel.

The United States condemned the bombing, saying “such cowardly attacks reinvigorate the commitment of the United States to assist our Somali and African Union partners to combat the scourge of terrorism.” It tweeted a photo of its charge d’affaires in Somalia donating blood.

But the US Africa Command said US forces had not been asked to provide aid. A spokesman told The Associated Press that first responders and local enforcement would handle the response and “the US would offer assistance if and when a request was made.”

The US military has stepped up drone strikes and other efforts this year against al—Shabab, which is also fighting the Somali military and over 20,000 African Union forces in the country.

The United Nations special envoy to Somalia called the attack “revolting,” saying an unprecedented number of civilians had been killed. Michael Keating said the UN and African Union were supporting the Somali government’s response with “logistical support, medical supplies and expertise.”

The spokesman for UN Secretary-General Antonio Guterres strongly condemned the attack and urged all Somalis to unite against extremism and work together to build a “functional” federal state.

Saturday’s blast occurred two days after the head of the US Africa Command was in Mogadishu to meet with Somalia’s president, and two days after the country’s defense minister and army chief resigned for undisclosed reasons.

Amid the chaos, the stories of victims began to emerge.

Amino Ahmed said one of her friends, a female medical student, was killed on the eve of her graduation. The explosion also killed a couple returning from a hospital after having their first child, said Dahir Amin Jesow, a Somali lawmaker. .

“It’s a dark day for us,” he said.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

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SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
January 13,2020

New Delhi, Jan 13: The Delhi High Court on Monday sought response of the city police, Delhi government, WhatsApp Inc, Google Inc and Apple Inc on a plea of three JNU professors to preserve data, CCTV footage and other evidence relating to the January 5 violence on the varsity campus.

The Delhi Police informed the court that it has asked the JNU administration to preserve and hand over CCTV footage of the violence.

Justice Brijesh Sethi listed the matter for further hearing on Tuesday.

The court was told by Delhi government Standing Counsel (criminal) Rahul Mehra that the police has not yet received any response from the university administration.

The counsel said police has also written to WhatsApp to preserve data of two groups "Unity Against Left" and "Friends of RSS" including messages, pictures and videos and phone numbers of members, related to JNU violence incident.

The petition was filed by JNU professors Ameet Parameswaran, Atul Sood and Shukla Vinayak Sawant seeking necessary directions to the Delhi Police Commissioner and Delhi government.

The petition also sought direction to the Delhi Police to retrieve all CCTV footage of JNU campus.

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News Network
May 11,2020

May 11: Saudi Arabia will triple its value-added tax rate and suspend a cost of living allowance for state workers, it said on Monday, seeking to shield finances hit by low oil prices and a slump in demand for its lifeline export worsened by the new coronavirus.

Historic oil output cuts agreed by Riyadh and other major producers have given only limited support to prices after they sank on oversupply caused by a war for petroleum market share between the kingdom and its fellow oil titan Russia.

Saudi Arabia, the world's largest oil exporter, is also being hit hard by measures to fight the new coronavirus, which are likely to curb the pace and scale of economic reforms launched by Crown Prince Mohammed bin Salman.

"The cost of living allowance will be suspended as of June 1, and the value added tax will be increased to 15% from 5% as of July 1," Finance Minister Mohammed al-Jadaan said in a statement reported by the state news agency. "These measures are painful but necessary to maintain financial and economic stability over the medium to long term...and to overcome the unprecedented coronavirus crisis with the least damage possible."

The austerity measures come after the kingdom posted a $9 billion budget deficit in the first quarter.

The minister said non-oil revenues were affected by the suspension and decline in economic activity, while spending had risen due to unplanned strains on the healthcare sector and the initiatives taken to support the economy.

"All these challenges have cut state revenues, pressured public finances to a level that is hard to deal with going forward without affecting the overall economy in the medium to long term, which requires more spending cuts and measures to support non-oil revenues stability," he added.

The government has cancelled and put on hold some operating and capital expenditures for some government agencies, and cut allocations for some reform initiatives and projects worth a total 100 billion riyals ($26.6 billion), the statement said.

Central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while oil revenues in the first three months of the year fell 24% from a year earlier to $34 billion, pulling total revenues down 22%.

"The reforms are positive from a fiscal side as greater adjustment is essential. However, the tripling of VAT is unlikely to help that much in 2020 revenue wise with the expected fall in consumption," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

She said she kept unchanged her deficit forecast of 16.3% of GDP for this year, which already factors in a greater than previously announced spending cut.

About 1.5 million Saudis are employed in the government sector, according to official figures released in December.

In 2018, Saudi Arabia's King Salman ordered a monthly payment of 1,000 riyals ($267) to every state employee to compensate them for the rising living costs after the government hiked domestic gas prices and introduced value-added tax.

DIFFICULT TIMES

A committee has been formed to study all financial benefits paid to public sector employees and contractors, and will submit recommendations within 30 days, the statement said.

In late 2015, when oil prices fell from record highs, the kingdom slashed lavish bonuses, overtime payments and other benefits once considered routine perks in the public sector.

In a country without elections and with political legitimacy resting partly on distribution of oil revenue, the ability of citizens to adapt to such reforms is crucial for stability.

"Tripling the VAT will test the limits of the balance between revenues and consumption as the economy dives into a deep recession. The move will impact consumption and could also lower the expected revenues," said John Sfakianakis, a Gulf expert at the University of Cambridge.

"These are pro-austerity and pro-revenue moves rather than pro-growth ones," he said.

Hasnain Malik, head of equity strategy at Tellimer, said the VAT rise could bring about $24-$26.5 billion in additional non-oil fiscal revenue. The rise would hit consumer spending further but was a needed step towards fiscal sustainability, he said.

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