Explosion on Syrian oil pipeline near restive Homs



BEIRUT // A major Syrian pipeline carrying oil to a refinery in the restive Homs province was blown up today, activists and the state-run news agency said, as violence stemming from the country's nine-month uprising spirals out of control.

No casualties were reported and it was not clear who was behind Thursday's explosion.

The British-based Syrian Observatory for Human Rights said the pipeline was "bombed", while the state-run news agency Sana blamed militants.

"An armed terrorist group on Thursday committed an act of sabotage," Sana said.

A government official said the blast caused a fire that has been burning for four hours. The official spoke on condition of anonymity because he was not authorised to speak to the media.

There were two similar blasts on Syrian pipelines in July, with no injuries.

Nomair Makhlouf, the general director of the Syrian Oil Company, said the pipeline serves Syria's domestic requirements and carries 140,000 barrels a day.

Reports today could not be independently confirmed. Syria has banned most foreign journalists and prevented independent reporting.

Syria is trying to crush a popular uprising, but the conflict is turning more violent as once-peaceful protesters increasingly take up arms.

Activists today said Syrian security forces have also killed at least seven civilians, including a woman, in Homs.

The deaths occurred as the security forces used sniper fire and "arbitrary" shelling during raids on three districts of the city.

Meanwhile, sanctions from Turkey, the Arab League and the European Union are aimed at squeezing the ailing Syrian economy and forcing the regime to halt the bloodshed.

The EU has banned oil imports from Syria in a move that costs the embattled regime millions of dollars each day.

Yesterday, in a rare interview, Syrian President Bashar Al Assad said he never ordered the brutal suppression of the uprising in his country, and insisted only a "crazy person" would kill his own people.

Apparently trying to distance himself from violence that the UN says has killed at least 4,000 people since March, Assad laughed off a question about whether he feels any guilt.

"I did my best to protect the people," he told ABC's Barbara Walters during an interview at the presidential palace in the Syrian capital, Damascus. "You feel sorry for the life that has been lost, but you don't feel guilty when you don't kill people."

"No government in the world [kills] its people unless it is led by a crazy person," Assad added in the interview, which was conducted in English. Assad, who trained as an ophthalmologist in Britain, speaks the language fluently.

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Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

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3. Gareth Bale - to Real Madrid in 2013/14 - €101m
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5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
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8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
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10. James Rodriguez - to Real Madrid in 2014/15 - €75m