KABUL // Afghanistan's parliament announced this week it will open an inquiry into Pakistan's rocket fire into Afghan border towns that killed dozens and left hundreds homeless.
The Wolesi Jirga, the lower house of parliament, next week plans to send a 12-member delegation to Kunar and Nangarhar, two of the provinces hardest hit by the barrage, to assess the damage and identify victims in need of assistance.
Pakistan has fired more than 700 rockets and mortar shells into eastern Afghanistan in the past six weeks, Afghan officials say, killing at least 40 people and displacing hundreds more.
Pakistan has yet to give an official explanation for the salvos, but officials have hinted the rockets are aimed at keeping Afghanistan-based militants at bay.
"To this day, there are still mortars being fired from Pakistan into Afghanistan," said Hajji Sakhi, a member of parliament from Kunar who will be a part of next week's delegation.
Sahar Gul, a displaced resident from Kunar, said in a phone interview on Thursday that mortars were still being fired, landing in areas that had not yet seen any rocket fire.
The Afghan president, Hamid Karzai, announced this week he would not respond with military force, sparking protests in Kunar's provincial capital of Asadabad.
"We need to be able to defend ourselves," said another MP from Kunar, Saleh Mohammed Saleh.
Tensions have long existed at the Afghanistan-Pakistan border - a 2,500-kilometre stretch that divides ethnic Pashtuns on either side - but never have the countries officially been at war.
Both nations are plagued by violence and Taliban insurgencies, and fighters are believed to easily slip back and forth over the rugged and mainly unguarded border.
Pakistan's military operations against some of the Pakistani Taliban's traditional strongholds near its border are believed to have pushed some of the militants into Kunar and the remote, north-eastern province of Nuristan.
There, Nato-led troops maintain a minimal presence and the Afghan government is similarly weak.
At least 12 Afghan Border Police (ABP) were killed in militant attacks on eastern border villages and outposts since June, according to the Afghan interior ministry.
Pakistan says Afghanistan-based fighters have killed 55 of its army and police in cross-border attacks in recent weeks.
"The Pakistani military is retaliating against militants who attack Pakistan from Afghanistan," said Ramiullah Yusufzai, editor-in-chief of Pakistan's News International, a newspaper in Peshawar. "And who escape back over the border every time."
But others warn that if Afghanistan fires back, it could open-up a new front in the war in Afghanistan.
Last year 2,777 civilians were killed in the conflict, a 15 per cent increase from 2009, the United Nations has said.
This year is already shaping up to be one of the most deadly of the war.
"If we respond with force, the result will be very clear," one former MP from Nangarhar, Farooq Meranei, said. "The fighting between Afghanistan and Pakistan will begin."
There are some 150,000 foreign troops now battling Taliban militants in Afghanistan, but western politicians are eyeing up exit strategies.
Nearly all international troops are set to leave Afghanistan by the end of 2014, and Nato has remained tight-lipped about the skirmishes at the border.
Mr Meranei accused international troops of turning a blind eye to the shelling.
"Afghanistan's security should be guaranteed by the international community," said Mr Meranei. "Nato is still in Afghanistan, they have to help us."
Others say the bombardment is Pakistan's way of derailing efforts to secure a peace agreement between Afghanistan's government and the Taliban.
Pakistan has a long history of interfering in Afghan affairs, and some analysts say it's Pakistan's way of reminding Afghanistan of its regional and military might.
"Pakistan has always tried to destabilise Afghanistan," Noor Al Haq Ulumi, a former Afghan general in the communist-era army, said.
"They want to show the world that the Afghan government is weak and that it is unable to protect Afghans," he said.
[ foreign.desk@thenational.ae ]
Bullet Train
Director: David Leitch
Stars: Brad Pitt, Aaron Taylor-Johnson, Brian Tyree Henry, Sandra Bullock
Rating: 3/5
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
THE SWIMMERS
Director: Sally El-Hosaini
Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman
Rating: 4/5
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Kill Bill Volume 1
Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Blue Beetle
Director: Angel Manuel Soto
Stars: Xolo Mariduena, Adriana Barraza, Damian Alcazar, Raoul Max Trujillo, Susan Sarandon, George Lopez
Rating: 4/5
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
US PGA Championship in numbers
1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.
2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.
3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.
4 Louis Oosthuizen has now finished second in all four of the game's major championships.
5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.
6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.
7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.
8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.
9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.
10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.
11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.
12 Paul Casey was a combined 12 under par for his first round in this year's majors.
13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.
14 The world ranking of Justin Thomas before his victory.
15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.
16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.
17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.
18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5