A home was damaged by Hezbollah rocket fire in the Kiryat Bialik area of Haifa in northern Israel on Sunday. Getty Images
A home was damaged by Hezbollah rocket fire in the Kiryat Bialik area of Haifa in northern Israel on Sunday. Getty Images
A home was damaged by Hezbollah rocket fire in the Kiryat Bialik area of Haifa in northern Israel on Sunday. Getty Images
A home was damaged by Hezbollah rocket fire in the Kiryat Bialik area of Haifa in northern Israel on Sunday. Getty Images

Israeli PM Benjamin Netanyahu threatens more attacks on Lebanon


Thomas Helm
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Israeli Prime Minister Benjamin Netanyahu threatened more military action against Hezbollah on Sunday after a week in which his country escalated attacks on Lebanon, stoking fears of a full-scale war.

Mr Netanyahu said Israel “dealt Hezbollah a string of blows it could not have imagined” in a recorded address. “If Hezbollah didn't get the message, I promise you – it will get the message. We are determined to return our northern residents safely to their homes.”

The address came as Israel was on high alert after Iran-backed Hezbollah fired a major barrage of projectiles into the north of the country overnight, the latest round of attacks during a period of unprecedented hostilities since both sides started striking each other last October.

Hezbollah's deputy leader Naim Qassem said the group has entered an “open-ended battle of reckoning” with Israel. Speaking at the funeral of senior commander Ibrahim Aqil, founder and leader of Hezbollah’s Radwan Forces who was assassinated in an Israeli missile attack in Beirut’s southern suburb of Dahieh on Friday, Mr Qassem promised retribution for the Israeli attacks on Hezbollah in Lebanon as part of the new phase of its battle with Israel.

He described substantial overnight strikes into Israel as “one page in an ongoing book of actions to make Israel pay a price for their crimes in Lebanon”.

“Just as the Israelis have announced their new war goal of returning their citizens to the north, we have also erected our new war objective,” he said. “We will not allow the Israelis to return to the north.”

Residents of northern Israel were told to avoid travel and stay near shelters and hospitals. They were also urged to cut routine procedures to free up space and schools were shut across the north as authorities prepared for more strikes. Israel's military said the overnight attacks involved about 150 “aerial threats”, many of which were intercepted.

Some urban areas were hit, however, and footage emerged of a strike on a residential area in the Haifa suburb of Kiryat Bialik that injured three people. A teenager died in a road traffic accident during one of the barrages. Hezbollah said the attack targeted a defence centre.

There have been near-daily exchanges of fire since October 8, but fears have been growing in recent weeks over the prospect of a full-scale war as Israel shifts attention away from its campaign in Gaza towards the northern border, where Hezbollah has long posed a threat.

The aftermath of Israel's strike on Beirut on Friday. AP
The aftermath of Israel's strike on Beirut on Friday. AP

Last week, Israel's security cabinet made returning more than 60,000 people from the north an official war aim. Days later, dozens of people were killed, including civilians. Thousands were injured across Lebanon after communications devices belonging to Hezbollah members exploded, in what is widely believed to have been an Israeli operation. The group said its barrage on Sunday was a response to this attack.

Israel then assassinated senior Hezbollah members, including top commander Ibrahim Aqil who the military said was overseeing plans to invade northern Israel, in a strike on Beirut on Friday which killed 45 people, including three children.

Mr Netanyahu's comments came as Israeli air strikes continued on Gaza, where seven people were killed and several others wounded in an attack on a school-turned-shelter in Al Shati refugee camp, near Gaza city.

The air strike came a day after 21 people, including a pregnant woman and 13 children, were killed in a strike on a school sheltering displaced civilians in Al Zeitoun neighbourhood. Civilians and rescue workers were filmed removing a woman's unborn child from the wreckage of the school, which was reduced to rubble in the attack.

Six others were killed in Sunday attacks on Rafah and Deir Al Balah, according to the official Wafa news agency, just hours after the enclave's Health Ministry confirmed 40 Palestinians were killed across Gaza in the past 24 hours.

Nada Homsi contributed from Beirut

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COMPANY%20PROFILE
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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

COMPANY%20PROFILE
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Diriyah%20project%20at%20a%20glance
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Updated: September 24, 2024, 7:04 AM