Kabul awakes to more explosions and heavy gunfire

April 16, 2012

Kabul_Ap16


Kabul, April 16: Loud explosions and intense gunfire erupted at dawn in the Afghan capital Kabul on Monday after heavy fighting overnight between security forces and militants holed up in the central diplomatic area.

NATO helicopters launched strafing attack runs on gunmen hidden in a construction site overlooking the NATO headquarters and several embassies, including the British and German missions.

Insurgents fired automatic weapons at Afghan army special forces and police, who responded with rocket-propelled grenades during street fighting in the capital that has so far lasted almost 16 hours.

Explosive flashes lit alleys and surrounding streets.

The assault by the insurgents, which began at midday on Sunday with attacks on embassies, a supermarket, a hotel and the parliament, is one of the most serious on the capital since US-backed Afghan forces removed the Taliban from power in 2001.

It highlights the ability of militants to strike the heavily guarded diplomatic zone of the city even after more than 10 years of war.

The Ministry of Interior said 19 insurgents, including suicide bombers, had died in the attacks in Kabul and in at least three provinces and two were captured. Fourteen police officers and nine civilians were wounded.

The Taliban claimed responsibility for the attacks, but some officials said the Haqqanis, a network of tribal militants who live along the Pakistan-Afghanistan border, were likely involved.

"My guess, based on previous experience here, is this is a set of Haqqani network operations out of north Waziristan and the Pakistani tribal areas," American Ambassador Ryan Crocker told CNN.

"Frankly I don't think the Taliban is good enough."

The attacks were another election-year setback in Afghanistan for US President Barack Obama, who wants to present the long campaign against the Taliban as a success before the departure of most foreign combat troops by the end of 2014.

"These attacks are the beginning of the spring offensive and we had planned them for months," Taliban spokesman Zabihullah Mujahid told Reuters.

He said the onslaught was revenge for a series of incidents involving American troops in Afghanistan - including the burning of Korans at a NATO base and the massacre of 17 civilians by a US soldier - and vowed that there would be more such attacks.

The Taliban said on Sunday the main targets were the German and British embassies and the headquarters of the NATO-led force. Several Afghan members of parliament joined security forces repelling attackers from a roof near the parliament.

FAMILIAR TACTICS

The attacks in Kabul come a month before a NATO summit at which the United States and its allies are supposed to put finishing touches on plans for the transition to Afghan security control, and days before a meeting of defense and foreign ministers in Brussels to prepare for the alliance's summit in Chicago.

They also come in the run-up to Western forces leaving Afghanistan under a plan to hand over responsibilities to the Afghan forces by 2014.

That may prompt some to draw comparisons with the 1968 Tet Offensive during the Vietnam War. There are major differences in the scale and length of the events and casualties but the assault may still challenge assertions that America is winning.

Afghan security forces apparently failed to learn lessons from a similar operation in Kabul last September, when insurgents entered construction sites to use them as positions for rocket and gun attacks.

On Sunday, insurgents entered a multi-storey construction site overlooking the diplomatic triangle and behind a supermarket. There they unleashed rocket-propelled grenades and gunfire, protected from the view of security forces by green protective netting wrapped around the skeleton of the building.

Hours earlier in neighboring Pakistan, dozens of Islamist militants had stormed a prison in the dead of night and freed nearly 400 inmates, including one on death row for trying to assassinate former President Pervez Musharraf.


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Agencies
April 20,2020

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

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News Network
April 28,2020

Geneva, Apr 28: The global death toll from the novel coronavirus has increased over the past 24 hours by nearly 5,000 to top 198,000, the World Health Organisation (WHO) said.

According to the latest WHO data, 85,530 new cases of infection have been registered globally over the past day, with 4,982 deaths.

The overall number of COVID-19 cases worldwide increased to 2,878,196 and the death count reached 198,668.

There are 1,359,380 confirmed cases and 124,525 deaths in Europe.

The number of cases in the Americas total 1,140,520, with 58,492 deaths.

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News Network
February 1,2020

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

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