Cape Town Finance – Bungeni Fri, 23 Jul 2021 02:16:46 +0000 en-US hourly 1 Cape Town Finance – Bungeni 32 32 Rays trade for Nelson Cruz as Twins sell Thu, 22 Jul 2021 22:50:47 +0000

Tampa Bay Rays acquire designated hitter Nelson Cruz from Minnesota Twins. The deal marks the start of major deals ahead of MLB’s July 30 trade deadline.

Minnesota begins a massive sell-off in July by grabbing two leads from the loaded Rays system.

An ageless wonder, Cruz remains one of the best hitters in the league at 41. He resigned with the Twins on a one-year, $ 13 million contract over the winter, believing he would help them get another playoff run.

Instead, Minnesota’s season quickly came to an end in 2021. An abject disaster of one spring made Cruz’s ever-productive bat too attractive an asset to hold onto. The beloved slugger is considered a great mentor to young players in addition to his striking prowess. The Twins could still be active by offering more talent to the contenders – Michael Pineda and Andrelton Simmons are in the last years of their contracts, and rumors have also swirled around young stars José Berríos and Byron Buxton.

The Rays take their first swing in the AL East race

The Rays, the defending AL champions, currently hold the league’s best wild card spot and are only one game away from the Boston Red Sox entering Thursday night’s games. As usual, they are successful with one of the smallest budgets in MLB. Cruz – whose expiring contract helped make him an option for Tampa – will immediately be the team’s highest-paid player.’s Mark Feinsand Reports Rays Took Remainder Of Cruz’s Salary, Around $ 5 Million.

He’ll give a boost to an offense that hits more than any other in baseball and hovers around the league average. For his part, Cruz has the lowest strikeout rate of his career and has been particularly productive since early June, slashing by 0.321 / 0.406 / 0.582 in the period that coincided with the MLB crackdown on pitchers using sticky substances.

The lineup upgrade will come with some playing time. Austin Meadows, who has won the lion’s share of DH plate appearances for the Rays, will likely return to a more regular role on the corner. Manuel Margot (who was 2% worse than the league average as an OPS + hitter in 2021) and center-field defensive magician Kevin Kiermaier (18% worse than the league average) are the most likely to feel the pressure.

Nelson Cruz would be heading to the Tampa Bay Rays. (Photo by Brace Hemmelgarn / Minnesota Twins / Getty Images)

Does this change the ratings of AL East?

There’s plenty of time left before the trade deadline, but the Rays’ decision to complete their offense is notable as the Red Sox try to keep the lead in the division while getting almost no offensive production from some key points in the game. alignment, especially first base.

Boston thinks they get a major no-move boost via the return of ace Chris Sale, but Tampa Bay’s +140 odds of winning AL East at BetMGM are expected to change as Cruz’s ultra-reliable production is taken into account.

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What fatherhood taught me about money Tue, 20 Jul 2021 09:49:55 +0000

Becoming a parent transforms a person in a profound way. Becoming a dad brought to light my own relationship with money, informed by my childhood, and how it will shape what I want my kids to go through and what mistakes I want them to avoid. More importantly, it gave me a clear reason to go beyond saving to invest. Considering the high cost of education and how it historically rose before inflation, it was important to earn returns above inflation to be able to cover tuition costs in the long run. Now, as my son nears the middle of his first year as a student, I reflect on the money lessons that being a father has taught me.

Lesson # 1: There is no better legacy than education

I have no hesitation in admitting that I spend a disproportionate amount of my income investing in the education of my children, through mutual funds. It is because I teach my children that their heritage is their education, which my parents also taught me.

Many people want their children to have something better than what they had, which is why they believe that it is essential to be able to give their children a good education. While this is true for me, I also believe that education is the key to financial independence, which brings me to lesson no. 2.

Lesson 2: Make Financial Independence a Conversation at the Table

My mother, one of twelve children, took control of our family’s finances, which went against the gender norms expected at the time. As she was an accountant in my father’s shop, I saw how diligent she was in recording every penny she saved and spent after learning to read and write herself, which formed the basis of her financial trick. She was also entrepreneurial and sold clothes locally. I saw how stimulating it was and it taught me a lot.

This, coupled with my mother’s behavior towards money, showed me how important it is to raise my sons and daughters to be confident when handling money. , as well as being financially independent. It is important that they see themselves as the key to their financial success.

Opening an investment account for your child will not only start a conversation about investing, but will also show them the value of investing in the long term. A tax-free investment account in your name is a great way to do this.

I encourage open conversations. No subject of money is ever taboo in our home. I also encourage my children to have “secondary crushes” so as not to rely on “mom and dad’s bank”.

Lesson 3: Look for positive financial role models for your children

Growing up in a large family in India, my great-grandfather could only afford one of my uncles to receive formal tertiary education at a reputable, albeit expensive, medical school abroad. Everyone in the family had to contribute financially to his education. He would come home every semester and tell us about his experience. He also checked with us when we were kids to make sure we went to school. It was the genesis for me to be diligent in school so that I qualify for a formal education.

It was an important lesson and it reminds me that children look for people who embody the things they consider successful and important and often mimic their behavior. The power of shaping good financial habits for your children cannot be underestimated.

Lesson # 3: Start investing early, but sweeten it up with small rewards along the way

There are two distinct memories I have that inform my financial behavior – even today.

First of all, every Monday I went to the Postal Bank to save R5 on a savings account. I would get a stamp in my savings book from the cashier as proof of my savings. It started a habit of diligent saving from an early age.

Second, I was going to school by train. One Thursday, I stopped at Salt River Junction in Cape Town to buy a raspberry snowball and a 200ml bottle of Coke; it was a small gift of my pocket money that I spent just a week after saving money at the post office bank.

Using investment accounts that I opened for my kids, paired with occasional treats, I do something similar to show them that investing doesn’t have to be a burden and that it is important to have a balanced view of investment and spending.

Lesson 4: It’s okay to stumble, but learn from your mistakes

I also learned from my parents’ financial mistakes. My dad wasn’t very good at money and took the wrong kind of risks. This behavior led him to be kidnapped when I was younger –

a painful memory, which still lives in me and which shapes my own attitude towards risk and many problems in life. It was a hard lesson in financial resilience and the consequences of financial irresponsibility. From this destruction, I learned not to overspend, to be as conservative as possible, and to take the right risks.

I have also learned financial discipline and courage and that it is okay to stumble. Financial setbacks are common, and there is no shame in making mistakes; what is important is how you get up and get back on track.

It also means having difficult, honest conversations with family and having to give up luxuries when things aren’t going so well.

Remove barriers this month of savings

Talking about money was once considered a taboo; but it’s up to us as parents to get our kids comfortable with the conversation, invite them to ask questions, and put them on the path to financial well-being.


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Passage Bio (PASG) appoints a sales director, a financial director and a medical director Mon, 19 Jul 2021 11:12:59 +0000

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Passage Bio, Inc. (Nasdaq: PASG), a clinical-stage genetic drug company focused on the development of transformative therapies for rare monogenic central nervous system (CNS) disorders, today announced three key executive appointments . These experienced executives will support the company’s growth and further strengthen the company’s strong clinical development capabilities in managing its strong pipeline.

Maria tornsen joins Passage Bio as Commercial Director, effective today. She reports to the President and CEO of Passage Bio, Bruce Goldsmith, Ph.D., and is a member of the management team. She is responsible for leading and developing the organization and business strategy of the company, including determining product positioning and marketing channels. Prior to joining Passage Bio, Ms. Törnsén, who has nearly 20 years of global business experience, was at Sarepta Therapeutics, where she was Senior Vice President, General Manager, United States.

Simona King will join Passage Bio as Chief Financial Officer (CFO), effective August 23. She will report to Dr Goldsmith and will be a member of the management team. She will be responsible for finance, accounting, tax, treasury, investor relations and information technology functions. Ms. King, former Executive Vice President and Chief Financial Officer of Tmunity Therapeutics, has over 20 years of experience in strategic pharmaceutical and biotechnology finance.

Mark Forman, MD, Ph.D., will join Passage Bio as medical director as of July 30. He will report to Director of Research and Development Eliseo Salinas, MD, MSc., And will be responsible for leading the company’s translational and clinical development efforts. Dr. Forman has nearly two decades of experience in translational research for neurological disorders, having served as head of translational medicine at Acadia and translational research for neuroscience at Merck. He will join Passage Bio from the Alzheimer’s Drug Discovery Foundation (ADDF), where he oversaw the drug discovery and development portfolio.

“I am delighted that we are able to bring these highly experienced professionals into our business, further enhancing our already talented management team,” said Dr. Goldsmith. “Passage Bio’s robust and expanding pipeline presents a significant opportunity in both clinical development and business planning to ensure optimal patient adoption once our therapies are approved. I am delighted that we have such strong leadership to expertly drive the growth of our business and advance our patient portfolio. “

Executive biographies

Mrs Törnsén has nearly 20 years of global business experience in the pharmaceutical and biotechnology industry, working in both rare and specialized therapeutic areas and in multiple geographic markets. As US CEO of Sarepta, she led the launch of its second and third Duchenne muscular dystrophy products. She also led preparations for the launch of future gene therapies and double-digit year-over-year sales growth in 2019 and 2020, with responsibility for marketed and pipeline products. Prior to Sanofi Genzyme, she worked at Shire in rare disease marketing before joining the neuroscience division. While at Shire, she moved to the United States and led sales and marketing in the United States for the Endocrine franchise. Prior to joining Shire, Ms. Törnsén worked at Merck KGaA in Switzerland, where she held several marketing leadership positions in neurology. She started her career in the industry as a sales representative at Eli Lilly in Sweden, launching three products. She obtained her Masters in International Business Administration from Lund University in Sweden.

Mrs. King has more than 20 years of experience in strategic finance in the pharmaceutical and biotechnology industry, with small and large companies. His experience ranges from advising management teams on growth strategies to managing equity and debt financing to successful product launches. She will join Passage Bio from Tmunity Therapeutics, where she held the position of Chief Financial Officer. Previously, she was at Emergent BioSolutions as Vice President of Financial Planning, Analysis and Assistant Treasurer. Prior to Emergent, she worked for 19 years at Bristol-Myers Squibb, holding a number of increasingly responsible financial positions in most functional aspects of the organization including mergers and acquisitions, R&D, commerce and manufacturing. , eventually leading the company’s global financial processes as executive director of corporate financial planning and analysis. Ms. King is a chartered accountant. She received her BA from Kalamazoo College and her MBA from Columbia Business School. She also graduated in African Studies from the University of Cape Town, where she was a Rotary Ambassador Fellow.

Dr Forman led the ADDF Scientific Affairs team which oversees the drug discovery and development portfolio. Dr Forman is a neuropathologist and neuroscientist who, prior to joining ADDF, was Vice President at Acadia Pharmaceuticals, where he was responsible for translational medicine, responsible for preclinical and early clinical development and contributed to the development of pimavanserin for treatment hallucinations and delusions. associated with dementia-related psychosis. Dr Forman also spent 12 years at Merck, where he was Executive Director and Head of Neuroscience in Translational Medicine, responsible for the portfolio of Neurosciences in Early Clinical Development, including contributions to the development of over 20 new therapies and multiple applications of new drugs. Dr Forman has been a member of the Scientific Advisory Board for Biomarkers and FTD Treatment of the Association for Frontotemporal Dementia since 2012. Dr Forman received his PhD. at Rockefeller University, MD at Duke University and BS at Yale University.

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The business sense is family Sat, 17 Jul 2021 15:09:11 +0000

TWINS Lwando and Lwazi Ndlangalavu have always gone into business together for a double impact.

Their strategy is proof that two heads are better than one.

The other day, they were over their weight in the liquefied petroleum gas (LPG) industry – and were having a killing spree. Their latest business is more suited to their training as a bean counter.

The twins Lwando and Lwazi Ndlangalavu. Image: Supplied

They own 4surity (Pty) Ltd, a Johannesburg-based company that offers software as a service (SaaS) that proactively monitors and reports cancellations or lapses of mandatory insurance coverage on funded assets on behalf of banks.

Lwazi (or is it Lwando?) Explains their job: “When a bank finances a car or a house for hire-purchase or mortgage, one of the conditions for granting is compulsory insurance coverage for the duration of the financing period which is between five to six years for a car and between 20 and 30 years for a house.

“Research, combined with experience, tells us that clients of these loans terminate these insurance policies as soon as they are faced with difficult times. The consequences of these cancellations are disastrous for banks as they create enormous exposure to financial losses (loan write-offs or write-offs) in the event of incidents such as theft, fire or other contingencies on the financed asset.

“Statistics from the South African Insurance Association (SAIA) show that only 35% of vehicles in circulation are insured. This problem is further exacerbated by the financial difficulties faced by consumers, for example, now with the damage caused by the Covid-19 on people’s jobs, small businesses and layoffs, this problem has just worsened. “

The other half of the duo adds: “This is an unprecedented solution, a first of its kind. It was idealized, defined and built in South Africa, by South Africans for the benefit of the South African banking sector and other African countries where similar problems exist.

One of the twins echoes the other: “With the Fourth Industrial Revolution shaping the way business is conducted globally, the banking industry is also moving away from traditional banking for digital to improve its business. service, reach, market penetration and credit risk management.

“Over a decade ago, banks began to use technology in their credit scoring space (scoring system) to expedite and standardize decision making under similar circumstances. this is always done manually. The 4surity system is a pioneer in risk monitoring using technology, the use of big data and collaboration with existing international companies to manage this huge problem which is both expensive and difficult to manage manually due to the size. of these loan portfolios and other dynamics that make this problem a moving target.

“The 4surity solution manages this problem more effectively and efficiently, as the software proactively manages these cancellations with extremely limited human intervention once agreed scopes are defined as opposed to current reactive processes. “

The size of the market and the opportunity of 4surity are attractive.

“The size of the mortgage portfolio exceeds just over R1 trillion and the vehicle portfolio is just over R 493 billion. Both books are exposed to the same risk of cancellation of compulsory insurance. The mortgage portfolio at this point had a delinquent value of R 40 billion and the vehicle portfolio was R 34 billion. These two figures represent the amount of those books that are overdue by three months or more, for a number of reasons.

“Risk management experience tells us that once people run into financial difficulties with their finances, the first thing they write off is insurance, even on funded assets. This is a major risk that banks should ignore and the 4surity offering has a major advantage in the market, ”says Lwando or Lwazi.

They operate from their premises in Pomona, Benoni and employ five people full time.

Their staff is made up of excellent talents, including a seasoned banker with more than 10 years of experience in credit risk management in the retail banking, investment banking and investment banking sectors. and investment, who is their CEO; and a qualified accountant with over 10 years’ experience in financial systems.

The twins both studied accounting and auditing.

“We both started our careers in an office at ABSA (Kempton Park). We transferred to ABSA (Cape Town) the same day. We both ended up in credit risk management; Lwando through a banking career and Lwazi through the earthmoving machinery industry. We have been working together on different companies for over six years now.

Either one says, “Our plan is to first serve the big four banks in South Africa, which have over 95% of the funded asset market, and then expand our offering to other houses. specialized financing, such as SA Home Loans. and Sasfin. It is our medium and long term plan to extend this offer to other African countries as well, starting with the SADC countries, then the rest of Africa.

Lwazi, or his Lwando, has the final say: “We take inspiration from people like Bonang Mohale and Strive Masiyiwa. They both pursued great visions with determination and perseverance, and they achieved great success. Just like them, failure is not an option for us, no matter what obstacles we face.

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Cape Town plans to “move away from Eskom’s sole dependency” Sat, 17 Jul 2021 11:57:08 +0000

The City of Cape Town is appealing to private and public sector financiers to help it improve its plans to reduce greenhouse gas emissions. This includes submission proposals for low-cost financing of renewable energy projects that will be owned and operated by the city, such as News24 reports.

According to Mayco’s member for finance, deputy mayor, Ian Neilson, “The program will consist of a number of projects ranging in size from less than 1 MW to 100 MW per project and all projects will be located on land. and city-owned buildings, usually in the city’s distribution network.

Neilson further said they hope to have a ground-based solar photovoltaic (PV) plant built and operated by the city by around 2022/2023. This is in addition to the plan to buy some of its power from independent power producers in the future.

As BusinessTech reports, the member of the city mayor’s committee for energy and climate change Phindile Maxiti states that: “The city has always believed that local governments have the constitutional power and the obligation to procure renewable energy and this is necessary to move away from relying solely on Eskom for energy reserve. “

“A stable and cleaner energy supply will also give the economies of Cape Town and other municipalities across the country a boost towards a sustained recovery from the impact of the Covid-19 pandemic on the economy,” adds Maxiti.

Also Read: Proudly South African Banner Rests Softly on Iconic Table Mountain

The proudly South African banner rests gently on the iconic Table Mountain

Image: Unsplash

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EquityStory.RS, LLC-News: PJSC Mechel / Keyword (s): Obligation
16.07.2021 / 12:00 MSK
The issuer is solely responsible for the content of this advertisement.


Moscow, Russia – July 16, 2021 – Mechel PAO (NYSE: MTL, MOEX: MTLR), one of Russia’s leading mining and metallurgical companies, says it meets all of the company’s public debt obligations.

Mechel reports that the company has fully repaid its Series 04 bonds as previously planned. The company has thus completed fulfilling all the obligations it had assumed regarding the series of obligations restructured in 2015-2016.

In 2015-2016, bondholders approved the restructuring of bonds on bonds of series 04, 13, 14, 17, 18 and 19 with a face value totaling 30 billion rubles, waiving the right to demand the prepayment. The coupon yield redeemed for these series amounted to 24.9 billion rubles with interest rates ranging from 8% to 19%.

“We have completely fulfilled all our public debt obligations and are grateful to the bondholders of Mechel PAO who contacted us when needed and agreed to restructuring terms acceptable to the company,” commented the CEO of Mechel PAO. , Oleg Korzhov. .


Machel DTP

Ekaterina Videman

Phone: + 7 495 221 88 88


Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel brings together producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electricity. All of its companies work in a single production chain, from raw materials to high added value products.


Certain information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents that Mechel files from time to time with the United States Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the sections entitled “Risk Factors” and “Caution Regarding Forward-Looking Statements” of our Form 20-F, which could cause actual results to differ materially. those contained in our projections or forward-looking statements, including, among others, the achievement of the expected levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive prices, the ability to obtain regulatory approvals and licenses required, the impact of developments in the Russian economic, political and legal environment, the volatility of the stock markets or the price of our shares or ADRs, the management of financial risks and the impact of trading conditions general and global economic policies.

07/16.2021 MSK Broadcast of corporate news, transmitted by EquityStory.RS, LLC – a company of EQS Group AG.
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Bafo Khanyeza | Municipal Nightmare – What the Ministry of Finance and Auditors Could Have Done Better Tue, 13 Jul 2021 15:57:49 +0000

Residents of Setlagole village in the northwestern local municipality of Ratlou brave the scorching sun as they queue for water at a reservoir, which is filled by trucks provided by the state.

There isn’t much to analyze about a municipality that has received so many negative opinions and disclaimers. Because it cannot simply be due to non-compliance with PFMA requirements and financial reporting. It’s just anarchy, says Bafo Khanyeza.

Faucets don’t just run dry. Wastewater does not just flow through the streets, passing through the homes of residents. Infrastructure projects are not simply abandoned. A car doesn’t just hit a pothole in the middle of the city. And garbage doesn’t just do not pick up for weeks. It all starts with poor governance or corruption, and the dismal audit results of the Municipal Financial Management Act (MFMA) 2020 bear witness to this.

Could the finance department have intervened? It is surely possible and should intervened. Even if there was no legislation that would tackle this problem, the Ministry of Finance through the National Treasury has the duty and the power to enforce and promote transparent and efficient use of resources in terms of of Article 6 of the Financial Administration Act (PFMA). (g). This means that even if there was no legislation dealing with corruption, the National Treasury could and should have commissioned a research study which would have formed the basis of any necessary legislative amendments. Even the government procurement bill that was recently submitted for public comment does not contain any clause that even attempts to address oversight and accountability.

Subscribe to News24 for just R75 per month to read all of our investigative and in-depth journalism.

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Taj recognized as “the strongest hotel brand in the world” Mon, 12 Jul 2021 15:34:54 +0000

Cape Town – Luxury hotel group Taj, which has a popular property in Cape Town, has been named the world’s strongest hotel brand by Brand Finance Hotels 50 Report 2021, the world’s leading brand valuation consultancy.

In the tradition of the Taj Mahal Palace Hotel which redefined hospitality in India, Taj has continued to establish global benchmarks even today with its unique place in the hearts and minds of Indians.

The Hotel 50 2021 report drew attention to the company’s implementation of its Pivotal Aspiration 2022 program and RESET 2020 strategy, which have helped effectively address the challenges posed by the pandemic.

In HopsitalityNet, Brand Finance Managing Director David Haigh said, “We are delighted to announce that Taj is the most powerful hotel brand in the world. A brand with a hundred-year-old heritage and custodian of revered Indian hospitality has resisted despite the challenges posed by the ongoing pandemic. Travelers around the world have relied on brands and tested them in different ways, and Taj came out on top.

The TAJ Hotel in Wale Street, Cape Town. Photo: Jeffrey Abrahams.
Taj Cape Town

Managing Director and Managing Director of Indian Hotels Company, Puneet Chhatwal, said: “This is a proud moment for the Indian hotel industry on the global stage. As Taj is considered the most powerful hotel brand in the world, it is a testament to the unwavering trust our customers place in us, as well as the warmth and genuine care our employees have embodied day in and day out.

In granting this recognition, the report also recognized the company’s world-class service, which has emulated their values ​​of trust, awareness and joy.

The Taj accepted the recognition with humility and a renewed commitment to create even more memorable moments throughout their journey.

Cape Argus

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Developer: Bancs (Cape Town or Johannesburg) x1 at Capitec Fri, 09 Jul 2021 13:31:37 +0000

Goal statement

  • Be responsible for Java development within the Bancs Core Banking platform used at Capitec Bank and for the growth of the technological stack of the engineering teams.



  • At least 5 years of proven experience in Java development in an online and / or batch environment
  • Experience in the following development languages:
  • Java Script frameworks
  • XML
  • Html
  • CSS
  • Java
  • JSP
  • SQL
  • Web services
  • Spring


  • Banking and finance experience

Diploma (minimum)

  • National Certificate of Grade 12 / National Certificate of Vocational Training in Grade 12

Qualifications (Ideal or Preferred)

  • A relevant tertiary qualification in information technology – IT or software development



  • Computer Systems Development Process (SDLC)
  • Application development
  • Standards and governance
  • Agile development lifecycle
  • Testing practices


Knowledge of:

  • UML
  • Systems analysis and design
  • System architecture (technical design and implementation process)

Strong understanding of:

  • Banking systems environment
  • Banking business model
  • Best Practices for Quality Assurance (QA)
  • Object-oriented development environment (i.e. Java, Spring Framework, JBoss, Hibernate)


  • communication skills
  • Analytical skills
  • Decision making skills
  • Talents for problem solving
  • Presentation skills
  • Attention to detail


  • Achieve personal work goals and objectives
  • Analyzing
  • Apply expertise and technology
  • Deliver results and meet customer expectations
  • Coping with pressures and setbacks
  • Learning and research
  • Adapt and react to change
  • Work with people

Further information

  • Clear criminal and credit record
  • Ability and willingness to work in an open concept environment
  • Willingness to work or be available for overtime and / or weekends as needed
  • A valid driver’s license and your own vehicle are preferred
  • Be available after hours in case of emergency
  • Willing and able to use own home as a formal office / base of operations (including space for ad hoc storage of paperwork, stock, etc.)

Capitec is committed to diversity and, to the extent possible, all appointments will support the achievement of our employment equity goals.

Find out more / Apply for this position

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Algeria forms new government with energy and finance ministers unchanged Wed, 07 Jul 2021 16:16:30 +0000

BAGHDAD / JEDDAH: Latent tension in Iraq erupted on Wednesday when Iranian-backed militias launched a new barrage of rockets targeting an air base that houses US and other international forces.

At least 14 missiles hit the Ain Al-Asad air base in western Iraq, used by coalition forces fighting the remnants of the extremist Daesh group.

US Army Col. Wayne Marotto, spokesperson for the coalition, said rockets landed on the base and its perimeter, and two people were injured.

Iraqi military sources said a rocket launcher attached to the back of a truck, which was found set on fire in nearby farmland, was used in the strike.

The attack was the latest in a series of rocket, missile and drone strikes against U.S. assets in Iraq, which have been targeted nearly 50 times this year. Three rockets also landed on Ain Al-Asad on Monday without causing any casualties.

Iraqi military officials said the pace of recent attacks on US bases with rockets and drones loaded with explosives was unprecedented.

Iranian-aligned Iraqi militias have vowed to retaliate after last month’s US strikes on the Iraqi-Syrian border killed four of their operatives.

The United States told the UN Security Council last week that it was targeting Iranian-backed militias in Syria and Iraq with airstrikes to deter militants and Tehran from leading or supporting new attacks on US personnel or facilities.

On Tuesday, an armed drone attacked Erbil Airport in northern Iraq, targeting a US base on the airport grounds, and Syrian Kurdish forces said they repelled further drone attacks near the basis Wednesday.

“Our frontline forces against Daesh and coalition forces in the Omar oilfield region have faced drone attacks,” the Kurdish-led Syrian Democratic Forces said.

They said early reports indicated the attacks did not cause any damage. It was the second such attack attempt in days after the SDF reported that “two unidentified rocket-propelled grenades landed on the west side of the Omar oil field” on Sunday evening.

The Syrian Observatory for Human Rights, a Britain-based war observer with sources in Syria, said pro-Iran militias launched the drones from a rural area outside the city of ‘Al-Mayadeen, southwest of the oilfield.

Pro-Iranian militias also fired several shells at the oil field on Monday last week, causing damage but no casualties, the Observatory said.

The bombing came after the United States launched airstrikes the night before against three targets it said were used by pro-Iran groups in eastern Syria and western Iraq .

Hundreds of American soldiers are stationed in northeastern Syria, working with the SDF to fight the Daesh group.

Thousands of Iranian-backed militias from the Middle East are deployed in different parts of Syria, many of them in areas along the border with Iraq.

The head of an Iranian-backed Iraqi militia on Monday vowed to retaliate against America for the deaths of four of his men in a US airstrike along the Iraqi-Syrian border last month. Abu Alaa Al-Walae, commander of Kataib Sayyid Al-Shuhada, said the attack will be a military operation that everyone will be talking about.

The United States has accused Iranian-backed militias of attacks – mostly rocket fire – that targeted the US presence in Baghdad and military bases across Iraq. More recently, the attacks have become more sophisticated, with militants using drones.

(With AFP)

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