Battle in Ukraine’s east rages, Zelensky vows to retake territory

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Self-propelled howitzers M109A3, provided by Norway, are deployed on the front line against Russian invaders in an unknown place of Ukraine. (Handout via AFP)
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Ukrainian servicemen clean the trunk of a self-propelled howitzers M109A3, provided by Norway, on the front line against Russian aggressors in an unknown place of Ukraine. (Handout via AFP)
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President Volodymyr Zelensky awarding a Ukrainian serviceman during his visit to the frontline positions of the army at Bakhmut and Lysychansk districts. (UPPS handout via AFP)
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Updated 08 June 2022
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Battle in Ukraine’s east rages, Zelensky vows to retake territory

  • Street-to-street fighting in eastern city of Sievierodonetsk
  • US adds more sanctions, World Bank adds to Ukraine help

KYIV: Ukrainian forces struggled to hold their ground in bloody street-to-street fighting in the eastern frontline city of Sievierodonetsk as President Volodymyr Zelensky said the situation was difficult, also pledging to retake Russia’s gains.
The days-long battle for the industrial city has emerged as pivotal, with Russia focusing its offensive might in the hope of achieving one of its stated aims — to fully capture surrounding Luhansk province on behalf of Russian-speaking separatists.
“We have to achieve a full deoccupation of our entire territory,” Zelensky said by video link at an event hosted by Britain’s Financial Times newspaper on Tuesday.
Asked about comments by France’s Emmanuel Macron that it was important not to “humiliate” Moscow, interpreted in Ukraine as implying some demands must be accepted, Zelensky said: “We are not going to humiliate anyone, we are going to respond in kind.”

The governor of the Luhansk region, Serhiy Gaidai, said the defenders were finding it hard to repel Russian attacks in the center of Sievierodonetsk.
Sievierodonetsk, Lysychansk, and Popasna remain the most difficult places, Zelensky said late on Tuesday.
Moscow said its troops have been advancing, while Zelensky said the “heroic defense” of Donbas was ongoing. Reuters could not independently verify the situation on the ground.
Since being pushed back from Kyiv and Kharkiv, Russia has focused on the region known as the Donbas, comprised of Luhansk and Donetsk provinces, and closest to the Russian border.
Moscow says it is engaged in a “special military operation” to disarm and “denazify” its neighbor.

'Book of Executioners'
Ukraine and allies call this a baseless pretext for a war that has killed thousands, flattened cities and forced millions of people to flee. Zelensky said Ukraine would launch next week a “Book of Executioners” to detail war crimes.
“These are concrete facts about concrete individuals guilty of concrete cruel crimes against Ukrainians,” he said.
Russia says it has gone out of its way to avoid targeting civilians in its operation in Ukraine.




President Volodymyr Zelensky (C) visits a sanatorium in the Zaporizhzhia region serving as refuge for Ukrainians forced to leave their homes amid the Russian invasion. (AFP) 

Satellite imagery from Maxar Technologies collected on Monday showed significant damage in Sievierodonetsk and nearby Rubizhne.
“Russian multiple rocket launchers, self-propelled and towed artillery are deployed to the northeast and oriented in firing positions toward the cities,” the US company said in a release.
Ukrainian officials had said their forces staged a surprise counter-attack last week, driving the Russians from part of the city center.
Before that, Russia had seemed on the verge of encircling Ukraine’s garrison in Luhansk, attempting to cut off the main road to Sievierodonetsk and its twin city Lysychansk.
Ukraine’s second city, Kharkiv, was also hit by shelling on Tuesday, and the local mayor said one person was killed. The northeastern city had been quieter in recent weeks.
Viacheslav Shulga, an employee at a pizzeria in the north of Kharkiv that was hit, said there had been hopes the restaurant could reopen soon.
“Everything is destroyed. We are removing equipment, there will be no business here for now,” he said.




Volunteers deliver ready meals to residents of the Saltivka district, north of Kharkiv, on June 7, 2022, amid Russian invasion of Ukraine. (AFP) 

More than two weeks since a siege of the southern city of Mariupol ended, Tass news agency cited a Russian law enforcement source as saying that over 1,000 Ukrainian soldiers who surrendered there have been transferred to Russia for investigation.

Global crisis
As the effects of the war are felt around the world, the United States added further sanctions to Moscow by banning US money managers from buying any Russian debt or stocks in secondary markets.
The World Bank approved $1.49 billion in fresh funds to help pay wages for government and social workers in Ukraine as it and other countries deal with the damage to its economy.
Ukraine is one of the world’s biggest exporters of grain, and Western countries accuse Russia of creating the risk of global famine by shutting Ukraine’s Black Sea ports.

The governor of the region that includes the port of Mykolaiv said weekend shelling had destroyed warehouses in one of Ukraine’s largest agricultural commodities terminals.
Moscow denies responsibility for the international food crisis, blaming Western sanctions.
Russian Defense Minister Sergei Shoigu said the Russian-occupied Ukrainian ports of Berdyansk and Mariupol were ready to resume grain exports. Ukraine says any such shipments from territory seized by Moscow would amount to illegal looting.


Saudi crown prince receives Italian PM in AlUla

Updated 15 sec ago
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Saudi crown prince receives Italian PM in AlUla

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman received Italian Prime Minister Giorgia Meloni at the winter camp in AlUla on Sunday.

 


Islamic leaders call for unity against extremism at Bangkok conference

Updated 28 min 18 sec ago
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Islamic leaders call for unity against extremism at Bangkok conference

RIYADH: Participants in Bangkok on Sunday at the third Khair Ummah conference of the Association of Southeast Asian Nations stressed Islam’s foundation in worshipping Allah and following the Prophet Muhammad’s teachings, urging Muslims to promote moderation while contributing to progress.

In a final communique of the two-day event, which was organized by the Saudi Ministry of Islamic Affairs in Thailand, participants called on scholars to uphold Islam’s tolerant values and address misinterpretations of religious discourse.

They highlighted the importance of following the path of the Prophet’s companions, combating extremism, and rejecting groups that misused religion for personal gain, the Saudi Press Agency reported.

Participants stressed the need to leverage modern media and technology to promote Islam, counter misinformation through research, and develop programs instilling Islamic values and tolerance in young people.

Participants at the event, organized by the Saudi Ministry of Islamic Affairs in Thailand, called on scholars to uphold Islam’s tolerant values and address misinterpretations of religious discourse. (SPA)

The conference focused on research papers by various scholars and aimed to strengthen communication among Islamic leaders and institutions to advance civilization.

Saudi Arabia’s Islamic Minister Sheikh Abdullatif Al-Asheikh on Saturday emphasized that the conference aimed to strengthen Islamic unity and uphold Islamic identity through solidarity and adherence to the truth.

He said that scholars had a significant responsibility in light of global challenges and the intellectual, political, social, and security issues facing the world.

Al-Asheikh added: “This situation calls for a real response from scholars and researchers to clarify the right religious stance against sedition and to reinforce the core principles of the Islamic faith.”


Saudi-based Walaa Cooperative Insurance Co. maintains ‘A-’ rating: S&P Global

Updated 38 min 23 sec ago
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Saudi-based Walaa Cooperative Insurance Co. maintains ‘A-’ rating: S&P Global

  • S&P expects Walaa to maintain this level of capital adequacy over the next two years
  • It also expects the company to gradually improve its combined ratio to about 98% in 2025—2026

RIYADH: Saudi Arabia’s Walaa Cooperative Insurance Co. maintained its “A-” long-term insurer financial strength rating by S&P Global, with a stable outlook. 

The New York-based credit rating agency also affirmed its “gcAAA” long-term Gulf Cooperation Council regional scale rating and “ksaAAA” long-term Saudi national scale assessment for Walaa, highlighting the insurer’s capital position and planned business growth initiatives. 

This comes as the company completed an SR468 million ($124.8 million) rights issue in December, initially announced in September 2023. 

The additional capital will support the firm’s growth strategy and enhance its regulatory solvency margin. 

S&P said Walaa’s capital adequacy exceeded its 99.99 percent confidence level before the reserve increase, with the recent capital injection further strengthening the company’s financial stability. 

The rating agency expects Walaa to maintain this level of capital adequacy over the next two years, underpinning its stable outlook. 

The firm’s stock price has already seen a significant 5.26 percent increase by 2:20 p.m. Saudi time to reach SR24. 

Despite its strong capital position, Walaa’s operating performance has lagged behind similarly rated peers, according to S&P. 

At the end of the third quarter of last year, the company ranked as the fifth largest insurer in the Kingdom, with insurance revenue reaching SR2.4 million and a growth rate of 17 percent. 

However, the insurer faced challenges in profitability, driven by its medical insurance segment.

The combined ratio — a key measure of underwriting performance — stood at 101 percent for the third quarter of 2024, compared to 98 percent during the same period the previous year. 

While the motor insurance segment, which experienced losses between 2021 and 2023, returned to profitability in 2024, reporting a service result of SR18 million for the third quarter, Walaa’s medical insurance business posted a significant loss of SR85 million during the same period. 

This marks a sharp decline from the SR4 million loss recorded in the third quarter of 2023. The company plans to expand its medical insurance segment over the next two years, aiming for breakeven by the year’s end. 

S&P said the goal may be challenging due to the competitive and concentrated nature of the medical insurance market in Saudi Arabia, which is projected to reach $4.33 billion this year, according to German online data gathering platform Statista. 

The medical segment is dominated by The Co. for Cooperative Insurance and Bupa Arabia for Cooperative Insurance, which collectively accounted for 76 percent of market revenue and most of the segment’s profitability in the third quarter of 2024, according to S&P. 

Walaa’s ability to achieve breakeven in this segment will play a critical role in the recovery of its overall performance. 

S&P expects Walaa to gradually improve its combined ratio to about 98 percent in 2025— 2026 as it continues to diversify its business and recover its operating performance. 

The agency also flagged potential risks, including the possibility of a negative rating action if Walaa’s underwriting performance is weaker than its local and regional peers or if its capital adequacy falls below the 99.95 percent confidence level. 

S&P views the likelihood of a rating upgrade as limited during the outlook period. Any positive rating action would depend on Walaa’s ability to significantly increase and diversify its premium income without impairing operating performance, while maintaining capital adequacy at the 99.99 percent confidence level and a low-risk investment portfolio. 


Drone Racing World Cup in Riyadh sets world record

Updated 55 min ago
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Drone Racing World Cup in Riyadh sets world record

The Drone Racing World Cup concluded Saturday in the Saudi capital, making history as it entered the Guinness World Records as the largest edition in terms of participating countries, with over 50 countries involved in the tournament.

The event, sponsored by Riyadh Season and organized by the Saudi Federation for Cybersecurity, Programming, and Drones, in collaboration with the World Air Sports Federation, featured participation from over 140 pilots.

The final day of the competition witnessed the qualification of 64 racers. Korean player Minchan Kim came in first place, winning the title of Drone Racing World Cup champion along with a prize of SR375,000 ($100,000). The second place went to French racer Killian Rousseau, who received a prize of SR285,000, while Joaquin Ybanez from the US secured third place, winning a prize of SR185,000. Valuable prizes were also raffled for visitors and attendees during the event.

The Drone Racing World Cup has been held since 2016, and this edition hosted by Saudi Arabia is the first of its kind in the Middle East and North Africa.


Indonesian president is India’s Republic Day chief guest as Asian giants forge new partnerships

Updated 26 January 2025
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Indonesian president is India’s Republic Day chief guest as Asian giants forge new partnerships

  • Indonesia’s first president Sukarno was the chief guest in India’s first Republic Day celebration in 1950
  • A 350-member contingent from Indonesian military also joined the Republic Day parade on Sunday

NEW DELHI: India celebrated its 76th Republic Day on Sunday with a colorful parade in New Delhi displaying its military might and Indonesian President Prabowo Subianto as the guest of honor.

Thousands of people gathered in the capital to watch the long parade commemorating the official adoption of India’s Constitution on Jan. 26, 1950, after gaining independence from British colonial rule in 1947.

Indian troops and their bands were marching on the Kartavya Path, or the Boulevard of Duty, as the 90-minute parade showcased motorbike stunts and a number of cultural performances involving thousands of artists in colorful costumes.

A contingent comprising about 350 members from the Indonesian military also participated in the parade, marking the first time that troops from Southeast Asia’s biggest economy have joined any foreign parade.

Prabowo attended the event as the chief guest and was flanked by India’s premier and president, joining a list of foreign leaders who were invited to witness the spectacle, as per the country’s tradition.

In 1950 — India’s first Republic Day celebration — Indonesia’s first president Sukarno was the chief guest. French President Emmanuel Macron was the guest of honor last year, while former US President Barack Obama had attended in 2015.

The celebrations come a day after Modi and Prabowo agreed to expand ties, signing a series of cooperation agreements on health, defense, digital technology and maritime affairs.

“We discussed ways to deepen India-Indonesia relations in areas such as security, defense manufacturing, trade, fintech, AI and more. Sectors like food security, energy and disaster management are also areas where we look forward to working closely (together),” Modi said following their meeting on Saturday.

Prabowo’s visit to India was his first since becoming Indonesia’s president in October.

“I want to reiterate my commitment, my determination to further develop our cooperation and friendship,” Prabowo said.

“Our (strategic) partnership will be a strong foundation for the two countries to continue moving forward (and) strengthen the friendship that we have had for 75 years.”

Gautam Kumar Jha, an assistant professor at the Center for Chinese and Southeast Asian Studies at Jawaharlal Nehru University, said the two countries have signaled strong interest in increasing cooperation.

“As a former military commander, President Prabowo brings a deep understanding of security and strategic partnerships, enhancing the collaboration between India and Indonesia. His role as the chief guest on India’s Republic Day is particularly significant compared to previous Indonesian presidents who have visited India,” Jha told Arab News.

“President Prabowo’s (priorities in) strengthening Indonesia’s maritime security, trade and social welfare schemes — such as the mid-day meal scheme currently run in India — are crucial for both nations.”

Indonesia is one of India’s largest trading partners among countries of the Association of Southeast Asian Nations, with bilateral trade reaching a record high of $38.8 billion in April 2022-March 2023, Indian government data showed.

India has also agreed to support Indonesia’s ongoing defense modernization program through experience and expertise sharing, according to a joint statement.

“The meeting on Saturday has established a trusted platform, enabling both countries to collaborate for mutual benefit,” Jha said. “This timing is ideal, as both Indian and Indonesian stakeholders are eager to elevate bilateral ties to a new level.”