DAMASCUS: Celebrations erupted around Syria and crowds ransacked President Bashar Al-Assad’s luxurious home on Sunday after Islamist-led rebels swept into Damascus and declared he had fled the country, in a spectacular end to five decades of Baath party rule. Assad’s key backer Russia said he had resigned from the presidency and left Syria. ”Assad and members of his family have arrived in Moscow,” a Kremlin source told the TASS and Ria Novosti news agencies. “Russia granted them asylum on humanitarian grounds,” he added..” Rebel factions aired a statement on Syrian state television, urging fighters and citizens to safeguard the “property of the free Syrian state”. State TV broadcast a message proclaiming the “victory of the great Syrian revolution”. The Islamist leader of Hayat Tahrir al-Sham group Abu Mohammed Al-Jolani said there was no room for turning back. “The future is ours,” Jolani said in a statement read on state TV after his forces took over Damascus. Jolani, now using his real name Ahmed Al-Sharaa, later visited Damascus’s landmark Umayyad Mosque, as crowds greeted him with smiles and embraces. AFPTV footage showed a column of smoke rising from central Damascus, and AFP correspondents in the city saw dozens of men, women and children wandering through Assad’s home after it had been looted. The rooms of the residence had been left completely empty, save some furniture and a portrait of Assad discarded on the floor, while an entrance hall at the presidential palace not far away had been torched. “I can’t believe I’m living this moment,” tearful Damascus resident Amer Batha told AFP by phone. “We’ve been waiting a long time for this day,” he said, adding: “We are starting a new history for Syria.” Assad’s departure comes less than two weeks after HTS challenged more than five decades of Assad family rule with a lightning offensive. “After 50 years of oppression under Baath rule, and 13 years of crimes and tyranny and displacement... we announce today the end of this dark period and the start of a new era for Syria,” the rebel factions said on Telegram. While there has been no communication from Assad or his entourage on his whereabouts, Prime Minister Mohammed Al-Jalali said he was ready to cooperate with “any leadership chosen by the Syrian people”. The head of war monitor the Syrian Observatory for Human Rights, Rami Abdel Rahman, told AFP: “Assad left Syria via Damascus international airport before the army security forces left” the facility. UN war crimes investigators on Sunday described Assad’s fall as a “historic new beginning” for Syrians, urging those taking charge to ensure the “atrocities” committed under his rule are not repeated. The rapid developments came just hours after HTS said it had captured the strategic city of Homs. Homs was the third major city seized by the rebels, who began their advance on Nov 27. US President Joe Biden was keeping a close eye on the “extraordinary events” unfolding in Syria, the White House said. US president-elect Donald Trump said that Assad had “fled his country” after losing Russia’s backing. Before Sunday’s announcements, residents had described to AFP a state of panic in Damascus, but morning saw chants and cheering, with celebratory gunfire and shouts of “Syria is ours and not the Assad family’s”. At the dawn call to prayer, some mosques broadcast religious chants usually reserved for festive occasions, while also urging residents to stay at home. On Sunday afternoon the rebels announced a curfew in the capital until 5:00 am (0200 GMT) Monday. The commander of Syria’s US-backed, Kurdish-led Syrian Democratic Forces (SDF), which controls much of northeast Syria, hailed as “historic” the fall of Assad’s “authoritarian regime”. The Observatory on Sunday said the Zionist entity struck Syrian army weapons depots Sunday on the outskirts of Damascus. Assad’s rule had for years been supported by Lebanese group Hezbollah, whose forces “vacated their positions around Damascus”, a source close to the group said Sunday. Zionist Prime Minister Benjamin Netanyahu said the overthrow of Assad was a “historic day in the... Middle East” and the fall of a “central link in Iran’s axis of evil”. “This is a direct result of the blows we have inflicted on Iran and Hezbollah, Assad’s main supporters,” he added. Netanyahu earlier said he had ordered the Zionist military to “seize” a demilitarized buffer zone on the border with Syria. He said a 50-year-old “disengagement agreement” between the two countries had collapsed and “Syrian forces have abandoned their positions”. The announcement, which Netanyahu made while visiting the Zionist-occupied Golan Heights which abut the buffer zone, came after the military said it had deployed forces to the area. The UN envoy for Syria said the country was at “a watershed moment”, while Turkey, which has historically backed the opposition, called for a “smooth transition”. Iran, a key backer of Assad throughout the civil war, said it expected “friendly” ties with Syria to continue, even as its embassy in Damascus was vandalized. An AFP photographer saw ransacked offices, with shattered glass on the floor and broken furniture in the building in Damascus’s upscale Mazzeh area, also home to other embassies and United Nations offices. People loaded looted items onto trucks outside, the photographer said. A senior United Arab Emirates official urged Syrians on Sunday to collaborate to avert chaos. “We hope that the Syrians will work together, that we don’t just see another episode of impending chaos,” presidential adviser Anwar Gargash said at the Manama Dialogue in Bahrain. Following speculation about Assad’s whereabouts, Gargash refused to confirm or deny speculation he would take shelter in the UAE. “When people ask, ‘where is Bashar Al-Assad going to?’, this is really at the end of the day a footnote in history,” he told the forum. “I don’t think it’s important. As I said, ultimately this is a footnote really to bigger events,” the Emirati official added when pressed on the question by journalists. Gargash blamed Assad’s downfall on a failure of politics and said he had not used the “lifeline” offered to him by various Arab countries before, including the UAE. Since the start of the rebel offensive, at least 826 people, mostly combatants but also including 111 civilians, have been killed, the Observatory said. Syria’s war killed more than 500,000 people, and forced half of the population to flee their homes. “I can barely remember Syria,” said Reda Al-Khedr, who was only five years old when he and his mother escaped Syria’s Homs in 2014. “But now we’re going to go home to a liberated Syria,” he told AFP in Cairo. – AgenciesThe calendar for December 2024 and beyond
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In conclusion, while Arsenal's attacking potential is undeniable, their struggles in scoring goals without set pieces have raised concerns about their ability to compete at the highest level. The Gunners must work on their creativity, finishing, and teamwork in open play to alleviate these concerns and secure positive results in the remainder of the season. Only then will Arsenal be able to silence the doubters and realize their full potential on the pitch.In recent years, the concept of "laying flat" has gained popularity as more individuals opt for a minimalist lifestyle, prioritizing leisure time and personal fulfillment over traditional notions of success and material wealth. However, as the era of passive savings comes to a close, many are finding it increasingly challenging to maintain a comfortable standard of living without actively generating income.
Trump's tariff plans may 'derail' US inflation progress: YellenThe Colombo Stock Exchange (CSE) has announced the following changes to the S&P Sri Lanka 20 index constituents as part of the 2024 Year-End Rebalance, conducted by S&P Dow Jones Indices. The exclusions and inclusions, as announced by S&P Dow Jones Indices, will take effect from 23rd December 2024, following the market close on 20th December 2024. Details are as follows: Exclusions: CIC Holdings PLC. Inclusions: Ceylon Cold Stores PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC. The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, which is employed to reduce single stock concentration. The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world. To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees (Rs), a six-month median daily value traded of Rs 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, please visit: S&P Sri Lanka 20 in alphabetical order are as follows. Ceylon Cold Stores PLC, Chevron Lubricants Lanka PLC, Commercial Bank of Ceylon, DFCC Bank DFCC, Dialog Axiata PLC, Distilleries Company of Sri Lanka PLC, Hatton National Bank PLC, Hayleys PLC, Hemas Holdings PLC, John Keells Holdings PLC, Lanka IOC PLC, LB Finance, LOLC Finance PLC, LOLC Holdings PLC, Melstacorp PLC, National Development Bank PLC, Nations Trust Bank PLC, Royal Ceramics Lanka PLC, Sampath Bank PLC, Vallibel One PLC.
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As the world watches with bated breath, the situation in the Middle East remains fluid and unpredictable. The only certainty is that the stakes are high, and the consequences of missteps could have far-reaching and long-lasting implications for the entire region.Nvidia has dominated the AI narrative in the stock market, captivating investors and the media after soaring 2,190% over the past five years and becoming the most valuable company in the world for a brief period (it's currently No. 2). However, Nvidia is far from the only opportunity in the AI or semiconductor space. In fact, one chipmaker just reported 400%-plus year-over-year data center revenue growth and overall revenue growth of 84% to $8.7 billion in its latest earnings report (for the quarter ending Nov. 28). I'm talking about Micron Technology ( MU 3.48% ) , the memory-chip specialist that is surprisingly down 44% from its recent peak, despite that blowout growth. That discount and its potential in AI make the stock an appealing buy right now. Let's review the company's recent results first and then get into the buy case. What is Micron? Micron is a leader in memory chips, including DRAM, NAND, and high bandwidth memory (HBM). The company is also an integrated device manufacturer, meaning it both designs and manufactures its own chips like Intel and Samsung do. Memory chips are a highly cyclical business, prone to price fluctuations and industry gluts, and owning its own foundries makes Micron more exposed to the boom and bust cycle in semiconductors. Running foundries requires a high level of capital, but the integrated business model allows the company to better capture margins when the business is performing well. The chart below, which shows Micron's price compared to its previous high, gives a sense of how volatile the stock has been. As you can see, over the last decade, the stock has fallen by 40% or more on four occasions before hitting a new all-time high. Data by YCharts. Cyclicality and volatility are part of the risk in investing in Micron, but there's no question the semiconductor sector is in a boom right now, driven by the explosive growth of AI, though some subsectors like PCs and smartphones are weaker. In addition to Nvidia's blowout growth, industry bellwether Taiwan Semiconductor Manufacturing recently reported revenue growth of 36% in the third quarter to $23.5 billion, showing strong growth in the sector. Noting strong AI demand, management said that data center revenue topped 50% of total revenue for the first time in the quarter, following a trail first blazed by Nvidia in the chip sector. That now makes the vast majority of Micron's revenue from the data center, where AI computing is taking place. Why Micron stock tumbled on the report After reporting fiscal first-quarter earnings on Wednesday, Micron stock plunged as much as 19% on Thursday on its weak second-quarter guidance. However, the company has a history of being conservative with its guidance, and the weakness was due to consumer markets like smartphones, whereas the AI business remains strong. HBM, the part of the business closely tied to AI, is seeing impressive growth. The company said it's on track to achieve its HBM target for the fiscal year and reach a "substantial record" in HBM revenue, including "significantly improved profitability, and free cash flow" in the fiscal year. Micron expects a sequential decline in revenue and adjusted earnings per share (EPS) in the second quarter, falling from $8.7 billion to $7.9 billion and for adjusted EPS to slip from $1.79 to $1.43. However, management's explanation for the weak outlook should reassure investors. CEO Sanjay Mehrotra said the company had warned previously that seasonality and customer inventory reductions in consumer-facing segments like smartphones would affect Q2 results. He added, "We are now seeing a more pronounced impact of customer inventory reductions," and continued, "We expect this adjustment period to be relatively brief and anticipate customer inventories reaching healthier levels by spring, enabling stronger bit shipments in the second half of fiscal and calendar 2025." In other words, the issues causing the weak second-quarter guidance look like just a speed bump for the company rather than a sustained headwind, and management expects to return to sequential growth in the second half of the year. For a stock to fall 17% on a one-time guidance cut feels like a misread by the market and a buying opportunity for investors. Why Micron is a no-brainer buy A sell-off driven by short-term news often presents a good buying opportunity, but there's more to Micron's buy case than that. Micron is clearly capitalizing on the AI boom with the surge in data center revenue, and with its largest customer, which is believed to be Nvidia, now making up 13% of its revenue. A close relationship with Nvidia is clearly a tailwind at this stage of the AI boom as Nvidia just reported 94% growth in year-over-year revenue in its Q3 report. Micron's results are notoriously lumpy and cyclical, but it has the ability to generate huge profits under the right circumstances -- and those seem to be shaping up as the AI boom plays out. For example, Micron expects the addressable market for HBM to jump from $16 billion in 2024 to $64 billion in 2028 and to $100 billion in 2030. Even if it just maintains its market share in that segment, its HBM revenue will be up 4x in four years and 6x and six years. Finally, Micron stock is also much cheaper than its AI and chip stock peers, trading at a forward P/E of just 10 based on this year's estimates. While those estimates are likely to come down after its guidance, Micron still looks like a bargain at any price near that. Micron investors should monitor the chip and AI cycle closely, but there's a lot of upside potential in the stock. Getting back to its peak this summer would mean a 75% jump for the stock, and shares could continue to rally further over the next year or two, especially if it continues to see strong growth in the data center. Micron is the rare AI stock that offers rapid growth and a good value right now.
Biden says Assad’s fall in Syria is a ‘fundamental act of justice,’ but ‘a moment of risk’Analysis: After Juan Soto's megadeal, could MLB see a $1 billion contract? Probably not soon For the second straight Major League Baseball offseason, a norm-shattering contract has been the talk of the winter , with Juan Soto agreeing with the New York Mets on a $765 million, 15-year deal that's the richest in baseball history. David Brandt, The Associated Press Dec 10, 2024 2:35 PM Dec 10, 2024 2:50 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message FILE - New York Yankees' Juan Soto talks with agent Scott Boras before Game 1 of the baseball World Series against the Los Angeles Dodgers, Friday, Oct. 25, 2024, in Los Angeles. (AP Photo/Julio Cortez, File) For the second straight Major League Baseball offseason, a norm-shattering contract has been the talk of the winter , with Juan Soto agreeing with the New York Mets on a $765 million, 15-year deal that's the richest in baseball history. It comes almost exactly one year after the Los Angeles Dodgers forked out a princely sum of $700 million on a 10-year, heavily deferred deal for two-way Japanese superstar Shohei Ohtani. They are believed to be the two richest contracts in pro sports history. The way it's going, a contract approaching $1 billion doesn't seem out of the question. But several factors are working against it — at least in the near future. There's reason to believe the megadeals for Ohtani and Soto are unicorns in the baseball world. Both players are uniquely talented, surely, but both also had unusual circumstances propelling their value into the stratosphere. Ohtani is the greatest two-way player in baseball history, capable of improving any team on both sides of the ball. He's also the rare baseball player who has true international appeal . His every move ( like his unexpected marriage announcement ) is followed closely in his native Japan, adding another 125 million potential fans who buy merchandise, watch him play and help fill the Dodgers' coffers. Then there's Soto — a four-time All-Star and on-base machine who won a World Series with the Washington Nationals in 2019. The X-factor for him is he became a free agent at the prime age of 26, which is extremely hard to do under current MLB rules. Players have to be in the big leagues for six years before testing free agency. The precocious Soto debuted at 19 with the Nats, making him part of a rare group of players who reached the highest level of professional baseball as a teenager. That accelerated his free agency timeline. It's rare for players to debut that young, and rarer still for them to develop into stars and test the open market the first chance they get. Two recent examples are Manny Machado and Bryce Harper, who both reached free agency in 2019. Machado signed a free-agent record $300 million contract with San Diego, and Harper overtook him days later with a $330 million contract to join the Phillies. Most players debut in the big leagues from ages 22 to 26, which means free agency comes in their late 20s or early 30s. A typical example is Yankees slugger Aaron Judge, who is one of this generation's great players but didn't hit the market until he was 30. Judge played three seasons of college baseball for Fresno State before getting drafted by the Yankees in 2013 at age 21 — already two years older than Soto was when he made his MLB debut. It took a few years for the budding superstar to reach the majors, and he was 25 when he had his breakout season in 2018, smashing 52 homers to earn AL Rookie of the Year honors. By the time he reached free agency after the 2022 season, he had already passed age 30. It's a major factor that led to him signing a $360 million, nine-year deal with the Yankees, which seems downright reasonable these days after the Ohtani and Soto deals. Two major trends are colliding that will make it harder for guys like Soto to hit free agency in their mid 20s. First, MLB teams have been more likely in recent years to take college players early in the draft, betting on more experienced talents. Just 10 high school players were drafted among the top 30 picks in the 2024 draft . Second, teams are more eager to lock up young, premium talent on long-term deals very early in their careers, well before they hit free agency. Sometimes before they even reach the majors. Since Soto, just two players have debuted in MLB before their 20th birthday — Elvis Luciano and Junior Caminero. Luciano hasn't been back to the majors since his 2019 cup of coffee. Caminero is now 21 and has only played in 50 big league games. Among those that debuted at 20: Fernando Tatis Jr. signed a $340 million, 14-year deal with San Diego in 2021, years before reaching the open market. Milwaukee's Jackson Chourio got an $82 million, eight-year deal before even reaching the big leagues. Young stars Corbin Carroll ($111 million, eight years with Arizona), Bobby Witt Jr. ($288 million, 11 years with Kansas City) and Julio Rodriguez ($209.3 million, 12 years with Seattle) also got massive guarantees early in their 20s to forgo an early free agency. The exception and wild card: Blue Jays slugger Vladimir Guerrero Jr. will be a 26-year-old free agent next offseason. Guerrero hasn't been as consistent in his young career as Soto, but a standout 2025 season could position him to threaten Soto's deal. More likely is that the player to pass Soto isn't in the majors yet — and might not even be in pro baseball. When 25-year-old Alex Rodriguez signed his record $252 million, 10-year deal with Texas in 2001, it took over a decade for another player to match that total, when Albert Pujols got $240 million over 10 years from the Angels in 2012. For many players, passing up life-changing money in their early or mid 20s is too enticing, even if it means that they might not maximize their value on the free agent market later in their careers. Soto was determined to test the market. He famously turned down a $440 million, 15-year offer to stay with the Washington Nationals in 2022, betting that he could make even more as a free agent. Not many players would turn down that kind of cash. Then again, that's what makes Soto so unique. And it's also why his $765 million deal could be the industry standard for some time. ___ AP MLB: https://apnews.com/hub/mlb David Brandt, The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Baseball Left-hander Max Fried agrees to $218 million, 8-year contract with Yankees, AP source says Dec 10, 2024 3:07 PM Shortstop Willy Adames and San Francisco Giants finalize $182 million, 7-year contract Dec 10, 2024 3:01 PM Nolan Arenado open to switch from third base to first and leaving Cardinals for a team he approves Dec 10, 2024 2:05 PM
In recent years, the term "water tax" has gained traction as several provinces in China have been experimenting with transitioning from traditional water fees to a more nuanced system of water taxes. This move has significant implications for residents, as it not only affects their financial burden but also aims to promote water conservation goals. Despite being in place for over seven years in 10 pilot provinces, the impact of this transition on residents and the effectiveness of achieving water conservation targets are topics of ongoing debate.How about those Bears , everybody? To put a finer point on it: Will they ever win again? In this week’s “Polling Place,” your home for Sun-Times sports polls on the social platform X, we asked what the Bears’ record will be after the 17-game season. They’re 4-6 heading into Sunday’s game against the Vikings at Soldier Field. “Could be 7-10, but probably 6-11,” @JeffreyCanalia commented. “All these choices are pathetic,” @JTurco60 wrote. “What a freaking embarrassment from top to bottom.” Next, we asked about the Bulls ’ projected season win total of 291⁄2. Over or under? “Over,” @DeyoSahler replied. “The East is bad, and the team plays hard. Young guys will carry them even if [Zach] LaVine and [Nikola] Vucevic are traded.” Finally, got any plans for New Year’s Eve? We asked if you’d go to the Blackhawks’ Winter Classic game at Wrigley Field that night if offered a free ticket. “Saying no to this is crazy work,” according to @arrosen76. “I’d pay $100 not to have to go,” @TheChrisSchultz wrote. On to the polls: Poll No. 1: Some are saying the Bears (4-6) might not win another game. With seven to go, predict their final record. Upshot: Bears fans, bless ’em, somehow keep getting out of bed on Sundays anyway. Poll No. 2: The over/under on wins for the Bulls (who are 6-10 with 66 games left) is 291⁄2. What are you taking? Upshot: One of these years, the Bulls will have a team we all can’t help but be excited about. OK, fine, one of these decades. Poll No. 3: If you were offered a free ticket to the Blackhawks-Blues Winter Classic game at Wrigley Field on New Year’s Eve, would you go? Upshot: Just so everyone knows, this New Year’s gala is black-tie optional. Alas, it’s also Blackhawks-score-a-goal optional.
In closing, let us raise a toast to Zheng Siwei and Huang Yaqiong, wishing them a lifetime of happiness, laughter, and love. May their journey together be filled with warmth, adventure, and unwavering support, as they navigate the highs and lows of life hand in hand.
The progress in the construction of the new expressway underscores the commitment of the local government to invest in infrastructure development and promote sustainable growth. With careful planning and execution, the new expressway project is expected to be completed efficiently and effectively, ensuring its long-term benefits for the region.Jetliner skids off runway and bursts into flames while landing in South Korea, killing 179
