A suicide attack in a Pakistani town bordering the Taliban stronghold of South Waziristan killed scores of people who had gathered to watch a volleyball game yesterday.
Local police said the bomber drove a vehicle loaded with explosives on to the sports field and detonated an explosion in a crowd of 200 that included children.
Reports said between 40 and 70 people had been killed with dozens more injured, and warned that the death toll would climb, as many of the victims have been buried under the rubble of collapsed homes nearby.
The Pakistani television station Express 24/7 claimed more than 70 people had been killed, 65 wounded and 20 homes destroyed.
"The villagers were watching the match between the two village teams when the bomber rashly drove his double-cabin pickup vehicle into them and blew it up," Mohammed Ayub Khan, the district police chief, told Agence France-Presse.
The attack happened in the Lakki Marwat district in North West Frontier Province just months after the former Taliban stronghold was flushed of fighters. Officials said the village was known to be opposed to the Taliban, and had set up its own local militia to force fighters from the area.
Since then, officials said the Taliban had been issuing threats against the villagers.
Mushtaq Marwat, a member of an anti-Taliban group, described the explosion on Geo TV. "Suddenly there was a huge blast. We went out and saw bodies and injured people everywhere."
The attack comes amid a growing spate of suicide bombings in the country that have killed hundreds over the past few months.
The assault seems to be in retaliation for a major military offensive against the Taliban in the Waziristan tribal areas.
Pakistan's biggest city of Karachi was virtually shut down yesterday as people held a protest against the increase in violent attacks. Earlier this week, 43 people were killed when a suicide bomber attacked a Shiite religious procession. The Taliban claimed responsibility and threatened more violence.
Attacks during sporting events such as the volleyball match are uncommon, however insurgents are increasingly targeting crowded areas such as markets in order to kill greater numbers of people and spread fear.
In addition to violence, the Taliban have demonstrated their authority in some areas by burning DVDs and flogging and executing their detractors.
Also yesterday, five people, including an anti-Taliban tribal leader, were killed in a roadside bomb in the Bajaur tribal district.
The North West Frontier Province has also been subject to increasing numbers of US-led drone attacks. Earlier in the day in a neighbouring district, a guided missile hit a car carrying suspected militants near the village of Naurak, killing four and injuring one.
US strikes in Pakistan have killed at least 662 people since August 2008, according to AFP. The number of strikes, which increase anti-American sentiment in the region, increased dramatically since President Barack Obama took office, the agency reported.
More than 2,800 people have been killed by militants since July 2007. Most of those deaths have occurred in the beleaguered North West Frontier Province. One of the largest explosions killed 125 people in the provincial capital of Peshawar in October.
The Obama administration called the attack "the latest in a series of senseless incidents of violence" against Pakistani citizens.
"We extend our condolences to those injured and to the next-of-kin of those killed - several of which appear to be young children," the National Security Council spokesman, Mike Hammer, said in a statement.
jgerson@thenational.ae
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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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1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
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Power: 502hp at 7,600rpm
Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
The specs
Engine: Dual 180kW and 300kW front and rear motors
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Transmission: Single-speed automatic
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
More coverage from the Future Forum
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km