Wednesday October 17, 2018
Home Uncategorized Despite UN-br...

Despite UN-brokered truce deal, Saudi Arabia bombs Yemen

0
//
84
Republish
Reprint

Mideast-Yemen_Beau-1024x683By NewsGram Staff Writer

Despite a UN-brokered truce, Saudi-led coalition forces bombed Houthi targets in several provinces of Yemen on Sunday killing at least 15 people, sources said.

The fresh airstrikes against Houthi fighters in the capital Sanaa killed at least 12 people on Sunday while several people were receiving treatment in hospitals, Xinhua cited the medical sources as saying.

The airstrikes also destroyed a conference hall used by the Shia Houthi group and damaged several civilian houses.

In Amran province, the warplanes hit a cement factory on Sunday, killing three people and wounding 10 others, the state-run Saba news agency reported.

The coalition also carried out air raids in Saada province, which is a Houthi stronghold, and the province of Lahj, security sources said. There were no reports of casualties.

The UN-brokered truce took into effect on Friday and will last through the end of Muslim holy month of Ramadan on July 17. However, the warring parties did not abide by the ceasefire deal.

The Saudi-led coalition forces and Houthi group continued their military operations Friday midnight, hours after the truce technically came into effect.

The temporary truce was aimed at facilitating aid deliveries to more than 21 million people in Yemen who have suffered a severe shortage of food, water and medicine supplies after more than three months of airstrikes and civil war.

The Saudi-led coalition has been striking the Houthis and their allied forces since March 26 when Yemeni President Abd-Rabbu Mansour Hadi was ousted by the Houthi militia which seized the capital Sanaa by force in September last year.

UN human rights agencies reported that more than 3,000 Yemenis have been killed, mostly civilians, and over 13,000 others wounded, while more than a million have fled their homes since late March.

According to UN statistics, the coalition-imposed blockade has also contributed in starving millions in Yemen where nearly 13 million people face a food security crisis and 9.4 million people have their access to water cut or severely disrupted, raising the risk of outbreaks of water-borne diseases.

(With inputs from IANS)

 

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Saudi Arabia’s Sovereign Fund Invested $1 Billion In An American Electric Car Manufacturer

Saudi Arabia's 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom.

0
lucid motors
Derek Jenkins, VP of Design at Lucid Motors, introduces the alpha prototype of the Lucid Air at the 2017 New York International Auto Show in New York City. VOA

Saudi Arabia’s sovereign wealth fund invested $1 billion Monday in an American electric car manufacturer just weeks after Tesla CEO Elon Musk earlier claimed the kingdom would help his own firm go private.

Tesla stock dropped Monday on reaction to the news, the same day that the Saudi fund announced it had taken its first loan, an $11 billion borrowing from global banks as it tries to expand its investments.

The Saudi Public Investment Fund said it would invest the $1 billion in Newark, California-based Lucid Motors.

Lucid Motors
Lucid Motors. Flickr

The investment “will provide the necessary funding to commercially launch Lucid’s first electric vehicle, the Lucid Air, in 2020,” the sovereign wealth fund said in a statement. “The company plans to use the funding to complete engineering development and testing of the Lucid Air, construct its factory in Arizona, enter production for the Lucid Air to begin the global rollout of the company’s retail strategy starting in North America.”

Lucid issued a statement quoting Peter Rawlinson, its chief technology officer, welcoming the investment.

“At Lucid, we will demonstrate the full potential of the electric-connected vehicle in order to push the industry forward,” he said.

The decision comes after Musk on Aug. 7 tweeted that he had “funding secured” to take Tesla private. Investors pushed Tesla’s shares up 11 percent in a day, boosting its valuation by $6 billion.

Lucid Motors
Electric Car

There are multiple reports that the U.S. Securities and Exchange Commission is investigating the disclosure, including asking board members what they knew about Musk’s plans. Experts say regulators likely are investigating if Musk was truthful in the tweet about having the financing set for the deal. Musk later said the Saudi Public Investment Fund would be investing in the firm, something Saudi officials never comment on.

Meanwhile Monday, the sovereign wealth fund known by the acronym PIF said it had taken its first loan, an $11 billion borrowing. It did not say how it would use the money, only describing it as going toward “general corporate purposes.”

Also Read: Electric Cars: The Newest Trend in India

The Las Vegas-based Sovereign Wealth Fund Institute estimates the Saudi fund has holdings of $250 billion. Those include a $3.5 billion stake in the ride-sharing app Uber.

Saudi Arabia’s 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom, which relies almost entirely on money made from its oil sales. (VOA)