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Russia has stockpiled missiles for winter attack on Ukraine, says Nato

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Russia has stockpiled missiles for winter attack on Ukraine, says Nato

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Russia has built up a large stockpile of missiles and intends to use them in a bid to destroy Ukraine’s power and heating infrastructure in the coming months, Nato’s secretary-general has warned.

With the front line largely frozen after Ukraine’s autumn counteroffensive failed to make significant gains, Kyiv has stepped up calls for more air defence supplies from its western allies as it girds for another winter bombardment.

“Russia has amassed a large missile stockpile ahead of winter, and we see new attempts to strike Ukraine’s power grid and energy infrastructure, trying to leave Ukraine in the dark and cold,” Nato secretary-general Jens Stoltenberg told reporters in Brussels on Wednesday.

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“We must not underestimate Russia. Russia’s economy is on a war footing,” he said following a meeting of allied foreign ministers and their Ukrainian counterpart.

The warning from the head of the US-led military alliance, which Ukraine has applied to join, comes as EU countries and US lawmakers continue to squabble over respective new financial support packages for Kyiv proposed by Brussels and the White House, raising questions on the longevity of western backing as Russia’s invasion grinds on.

Antony Blinken, US secretary of state, said he saw “no sense of fatigue” among Nato members regarding support for Ukraine.

Russia is planning to spend Rbs10.8tn ($122bn) on defence next year, three times the amount allocated in 2021, the year before the invasion, and 70 per cent more than was planned for 2022, according to a bill on Russia’s budget that President Vladimir Putin signed on. The enormous sums in Russia’s record Rbs36.6tn budget for next year will take defence spending to 6 per cent of gross domestic product.

Arms manufacturers are working three shifts a day to meet the defence ministry’s orders. Several civilian factories have shifted to defence production, as well as some non-industrial sites including a bakery that now makes drones.

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Putin told arms makers in September to “raise production capacity in the shortest possible time, keep facilities as busy as possible, optimise technological cycles, and cut down production time without lowering quality”.

Russia’s intelligence agencies have also stepped up their operations to import western dual-use technology — goods that have both potential civilian and military applications — for the defence industry.

The rush for parts has forced Russia to seek ways around western sanctions and export controls by smuggling western-made technology through third countries such as Turkey, according to western officials.

Despite Putin’s orders, Russia is not putting an emphasis on quality, accepting whatever parts arms manufacturers can get their hands on to increase missile production, western officials say — even if that makes them less accurate.

A senior Ukrainian intelligence official told the Financial Times that Russia was now receiving frequent shipments of munitions from Iran and North Korea, including Iranian one-way attack drones and North Korean artillery shells and rockets.

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The artillery is arriving in quantities that will ensure Russian troops can at least continue fighting at a level consistent with the hostilities in recent months, while the drones are likely to be used along with long-range missiles in Russia’s attacks on Ukraine’s critical infrastructure over the winter months.

Stoltenberg’s remarks come after Russia launched its biggest drone attack of the war on November 25, targeting Kyiv’s energy infrastructure and signalling what Ukrainian officials fear marked the start of a winter air campaign.

Ukrainian President Volodymyr Zelenskyy on Tuesday said his country’s air defences have had a success rate of more than 90 per cent in intercepting Russian missiles and drones in the latest wave of attacks. But he said Kyiv still needed more help from the west to get through the tough winter ahead.

“There is a clear need to develop and reinforce our mobile firing groups, as well as to get all highly effective air defence systems [from western partners],” Zelenskyy said.

Stoltenberg said Russia was “now weaker politically, militarily and economically” than before the February 2022 invasion and had “lost a substantial part of its conventional forces. Hundreds of aircraft. Thousands of tanks. And more than 300,000 casualties.”

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Oleksandr Lytvynenko, Ukraine’s chief of foreign intelligence, wrote in a rare public report on the war last week that Russia’s military had been weakened but that Putin had set his economy on a war footing, significantly increasing its arms production which is likely to continue at least until 2026.

“The Kremlin believes that it has enough resources for hostilities with Ukraine at the current level for a long period,” he said. “At the same time, Moscow is convinced that Ukraine’s internal resources are allegedly ‘approaching complete exhaustion’.”

Russia’s goals in Ukraine, to gain as much territory as possible, remain unchanged, he added. Going into winter, the conflict had now fully attained the “stage of a war of attrition”, Lytvynenko said.

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Video: One Person Dead in Explosion Outside Palm Springs Fertility Clinic

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Video: One Person Dead in Explosion Outside Palm Springs Fertility Clinic

new video loaded: One Person Dead in Explosion Outside Palm Springs Fertility Clinic

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One Person Dead in Explosion Outside Palm Springs Fertility Clinic

The mayor of Palm Springs, Calif., said it was unclear how or whether the victim was connected to a blast that damaged a fertility clinic.

“It’s kind of hard to see.” “It’s hard to tell if it was just the car.” “The explosion was so crazy, it blew out the glass of this liquor store. Look at this liquor store. Oh, my God. Look at this, dude. Damn. Crazy explosion. Glass and everything everywhere.”

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Hong Kong stocks outperform mainland China by most since 2008

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Hong Kong stocks outperform mainland China by most since 2008

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Hong Kong shares have outperformed their mainland peers by the largest margin in nearly two decades, as money pours in from China due to worries about the domestic economy and enthusiasm for the territory’s technology stocks.

The benchmark Hang Seng index is up 16.4 per cent this year compared with a 1.2 per cent decline in mainland China’s CSI 300 index — the biggest outperformance year to date since 2008.

The rally has been boosted by the rise of DeepSeek, the Chinese start-up that claims artificial intelligence advances using far less computing power than US rivals, which has encouraged investor appetite for Hong Kong-listed technology stocks.

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The territory’s stocks, which plummeted more sharply than mainland equities after US President Donald Trump’s “liberation day” tariff announcement in April, have also been helped by easing tensions in the US/China trade war.

The rally comes as money from mainland China flows into Hong Kong at record high levels.

“The majority of the strong outperformance this year from Hong Kong has been driven by southbound flows [from the mainland],” said James Wang, head of China equity strategy at UBS.

“A lot of that has been driven by the AI trade,” he added, pointing to the higher proportion of AI stocks in Hong Kong than the mainland.

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Hong Kong’s outperformance also “stems from fundamental differences in market composition”, said Wei Li, head of multi-asset investments for China at BNP Paribas.

“The Hang Seng index’s heavy weighting towards globally liquid sectors — such as technology and finance — has allowed it to capitalise on the Federal Reserve’s dovish pivot and renewed appetite for Chinese tech stocks.”

Chinese technology companies such as Tencent and Alibaba are listed in Hong Kong and the US but not on the mainland. Alibaba first became available to mainland investors in September after the company upgraded its listing in Hong Kong.

A meeting between Chinese President Xi Jinping and the country’s technology companies in February was also seen as positive for both mainland and Hong Kong stocks, but particularly for the latter.

“Investors feel the government is giving the green light for the tech sector to grow again,” said Tai Hui, chief Asia market strategist at JPMorgan Asset Management.

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China’s economy has been hit hard by the collapse in the property market and the trade war with the US, which has helped Hong Kong’s outperformance.

“There has generally been concern about the domestic economy in China being weak,” said Andrew Tilton, chief Asia-Pacific economist and head of EM economic research at Goldman Sachs.

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Hong Kong is likely to benefit from any moves out of US equities into other markets and from further Fed rate cuts in the second half of the year, said JPMorgan’s Hui.

“Hong Kong is gathering capital both from Chinese investors and international investors” as it is easier for overseas investors to buy equities in the city than in mainland China, Hui added.

International money flowing into Hong Kong appears to be from shorter-term investors, such as hedge funds, rather than longer-term market participants such as pension funds, according to UBS’s Wang.

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“I wouldn’t say there’s a huge influx of long-only money coming back into the China equity market just yet,” he added. “Investors have been burned for quite a long time in China.”

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Watch: Chaos as Mexican Navy ship collides with Brooklyn Bridge, sailors seen dangling – Times of India

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Watch: Chaos as Mexican Navy ship collides with Brooklyn Bridge, sailors seen dangling – Times of India

Chaos as Mexican Navy ship collides with Brooklyn Bridge, sailors left dangling

Two people have died and 17 others were injured when the Mexican Navy’s training vessel Cuauhtémoc crashed into the Brooklyn Bridge on Saturday night, creating a harrowing scene as sailors were seen dangling from damaged masts high above the deck.The incident occurred around 8:30 PM local time when the three-masted ship, measuring nearly 300 feet in length, apparently lost power and drifted backwards into the historic bridge. The collision caused the vessel’s towering masts, some exceeding 150 feet in height, to strike the bridge’s underside and snap in succession.“Sailors were seen aloft in the rigging on the damaged masts but, remarkably, no one fell into the water,” news agency AP reported quoting officials.

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Do you believe the Mexican Navy’s training vessel Cuauhtémoc should continue its voyage after the accident?

New York City Mayor Eric Adams confirmed on Sunday that of the 277 people aboard, 19 sustained injuries, with two fatalities and two others in critical condition. “Earlier tonight, the Mexican Navy tall ship Cuauhtémoc lost power and crashed into the Brooklyn Bridge,” Adams posted on social media platform X.Eyewitnesses described dramatic scenes as sailors clung to ropes, unable to descend for several minutes after the impact. “We saw someone just hanging there,” recalled witness Lily Katz. “He was dangling from a harness near the top for like 15 minutes before help got to him.”The Cuauhtémoc, launched in 1982, was on a global goodwill voyage and had just completed a stop in Manhattan. The vessel, primarily carrying naval cadets, was scheduled to visit 22 ports across 15 countries before returning home in December. Prior to the accident, the ship had welcomed visitors at Pier 17 from May 13-17.

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Brooklyn Bridge hit by Mexican navy training ship, injuring several

While the iconic Brooklyn Bridge, dating back to 1883, was struck during the incident, preliminary inspections revealed no significant structural damage. Though traffic was temporarily suspended, the bridge has since reopened. City officials have initiated a comprehensive inspection by the department of transportation.Also Read: Brooklyn Bridge crash: NYPD explains why Mexican Navy Ship collided with Brooklyn BridgeThe ship’s next destination was to be Iceland as part of its extended training mission, which included planned stops in France, Scotland, Cuba, and Jamaica.

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