Ukrainian attacks kill six in Russia’s Belgorod region, officials say

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Rescuers remove debris following the collapse of a section of a multi-story apartment block that was hit by a Ukrainian missile strike in the town of Shebekino in the Belgorod region, Russia, on June 14, 2024. (Russian Emergencies Ministry/Handout via REUTERS)
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Updated 15 June 2024
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Ukrainian attacks kill six in Russia’s Belgorod region, officials say

  • On the Ukrainian side of the border, military officials in Sumy region said a Russian air strike on Friday killed one person in the town of Shostka

KYIV: Ukrainian attacks on southern Russia’s Belgorod region killed six people on Friday, officials said.
Russia’s Emergencies Ministry said four bodies had been pulled from the rubble of a multi-floor apartment building hit by Ukrainian shelling in the border town of Shebekino.
A ministry statement posted after midnight said 50 percent of the rubble from the site had been cleared. Pictures on the ministry’s Telegram channel showed a crane clearing debris and the building’s facade shattered, with one stairwell collapsed.
Regional Governor Vyacheslav Gladkov said a Ukrainian drone had struck a car in a village near Shebekino, killing the driver. He said a woman was killed in her home when it was struck by rocket fire in the village of Oktyabrsky, further west.
Ukraine has staged frequent attacks on Belgorod and other Russian border regions in recent months.
President Vladimir Putin cited attacks on Belgorod as grounds for a cross-border incursion last month into Ukraine’s Kharkiv region.
The Russian military said its troops seized about a dozen settlements, while Ukrainian officials say the advance has been contained.
On the Ukrainian side of the border, military officials in Sumy region said a Russian air strike on Friday killed one person in the town of Shostka, about 45 km (28 miles) inside Ukrainian territory.
Towns and villages in Sumy region, west of Belgorod, are subject to daily Russian attacks.


Saudi medical team begins to separate Egyptian conjoined twins

Updated 12 min 2 sec ago
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Saudi medical team begins to separate Egyptian conjoined twins

  • Most delicate case ever undertaken by his team, says surgeon Dr. Abdullah Al-Rabeeah

DUBAI: A medical team of the Saudi Conjoined Twins Program began on Wednesday to separate Egyptian twins at King Abdullah Specialist Children’s Hospital in Riyadh.

Dr. Abdullah Al-Rabeeah, advisor at the royal court and supervisor general of the Kingdom’s aid agency KSrelief, who heads the team, said the twins are joined at the back, lower chest, abdomen and pelvis, the Saudi Press Agency reported.

One of the twins lacks essential organs, including a heart and head, and suffers from severe congenital defects, making survival impossible.

The complex operation is expected to last approximately 11 hours and will proceed in six stages.

It involves a multidisciplinary team of 26 consultants, specialists, and support staff in fields including anesthesia, neurosurgery, pediatric surgery, and plastic surgery.

Al-Rabeeah described the case as one of the most delicate the team has undertaken, noting the shared spinal canal as a major surgical challenge.

Advanced imaging and surgical microscopes will be used to ensure precision, he said.

This marks the 63rd separation procedure under the Saudi Conjoined Twins Program, which has reviewed 149 cases from 27 countries since its inception in 1990.


Houthi spokesperson: US-Houthi ceasefire deal does not include Israel

Updated 14 min 14 sec ago
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Houthi spokesperson: US-Houthi ceasefire deal does not include Israel

DUBAI: A ceasefire deal between Yemen's Houthis and the United States does not include operations against Israel "in any way, shape or form," the group's chief negotiator Mohammed Abdulsalam told Reuters on Wednesday.


China says US side initiated upcoming Geneva meeting on tariffs

Updated 15 min 24 sec ago
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China says US side initiated upcoming Geneva meeting on tariffs

BEIJING: An upcoming meeting between China and US trade representatives in Geneva was requested by the US side, a spokesperson for China’s foreign ministry said on Wednesday.
China announced earlier that Vice Premier He Lifeng will visit Switzerland from May 9 to 12 during which He will also have a meeting with a US delegation led by Treasury Secretary Scott Bessent.
China’s position of opposing US tariffs has not changed and any dialogues must be based on equality, respect and mutual benefit, spokesperson Lin Jian told reporters.


Lucid sticks to annual production forecast even as tariff woes hit automakers

Updated 44 min 46 sec ago
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Lucid sticks to annual production forecast even as tariff woes hit automakers

LONDON: Lucid stuck to its 2025 production forecast on Tuesday despite the threat of tariffs forcing many automakers to pull back targets, while the luxury electric-vehicle maker reported first-quarter revenue below analysts’ expectations.

Demand for pure battery cars in the US has been slowing as consumers, hit with high interest rates and recession worries, gravitate toward cheaper hybrids.

Lucid — majority-owned by Saudi Arabia’s Public Investment Fund— lowered the prices of its vehicles and offered incentives, including cheaper financing, to entice customers to its Air sedans that start at about $70,000 in the US.

The company said it would produce nearly 20,000 vehicles this year, while Wall Street expects it to manufacture 18,370, according to an average of five analysts by Visible Alpha.

Revenue for the quarter ended March 31 was $235 million, compared with analysts’ average estimate of $248.9 million, data compiled by LSEG showed.

Lucid, which has been focusing on cutting costs, posted an adjusted net loss per share of 20 cents, narrower than the 27-cent loss a year ago.

The company is gearing up to expand its product line with a mid-size car expected to roll out next year, targeting a $50,000 price point, aiming to broaden its customer base and strengthen its position in the competitive EV sector.

Success of Lucid’s recently launched Gravity SUV, along with the midsize, is seen as crucial to its long-term outlook, as the company burns through cash ramping up production.

US automakers are grappling with tariffs imposed by President Donald Trump on vehicle and auto parts imports. The tariffs are expected to disrupt supply chains and raise prices of automobiles.

Automakers, including Tesla, have said they were reassessing their full-year targets in the face of tariff uncertainty.

Last week, Trump signed two orders to soften the blow of his auto tariffs, with a mix of credits and relief from other levies on materials.

In September 2023 it launched its first international manufacturing plant in Saudi Arabia.

Located in King Abdullah Economic City, the facility can currently assemble 5,000 Lucid vehicles annually during its first phase.

Once fully operational, it is expected to produce up to 155,000 electric cars per year.  


Oil Updates — crude rises as market eyes US-China trade talks, lower US output

Updated 07 May 2025
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Oil Updates — crude rises as market eyes US-China trade talks, lower US output

SINGAPORE: Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on US-China trade talks and signs of lower US production.

Brent crude futures gained 76 cents a barrel, or 1.22 percent, to $62.91 a barrel by 10:08 a.m. Saudi time, while US West Texas Intermediate crude was up 84 cents, or 1.42 percent, at $59.93 a barrel.

Both benchmarks plunged to a four-year low recently after OPEC+’s decision to speed up output increases, stoking fears of oversupply at a time when US tariffs have increased concerns about demand.

“News that the US and China will start trade talks this weekend has Brent crude trading higher, extending a relief rally in oil,” said commodities strategists at ING on Wednesday.

“Yet while negotiations would help improve sentiment in the oil market, we’ll need to see significant progress on lowering tariffs to improve the demand outlook,” ING added.

Meanwhile, lower oil prices in recent weeks have prompted some US energy firms including Diamondback Energy and Coterra Energy to announce rig reductions, which analysts said should support prices over time by reducing output.

The latest announcements suggested output will weaken in the coming months, said ANZ Bank senior commodity strategist Daniel Hynes. “We warned last month that falling prices and declining drilling activity was raising the risk of US oil output falling.”

Crude stocks fell by 4.5 million barrels in the week ended May 2, market sources said, citing American Petroleum Institute figures on Tuesday.

US government data on stockpiles is due at 5:30 p.m. Saudi time. Analysts polled by Reuters expect, on average, an 800,000 barrel decline in US crude oil stocks for last week.

Prices also drew support from signs of demand improving. Consumers in China increased spending during the May Day celebration and as market participants returned after the five-day holiday.

In Europe, companies are expected to report growth of 0.4 percent in first-quarter earnings, an improvement over the 1.7 percent drop analysts had expected a week ago.

The Federal Reserve is widely expected to leave US interest rates unchanged on Wednesday as tariffs roil the economic outlook.