World Biz
Survivors Grapple with Devastation as Libya Flood Toll Rises over 11k
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A week following the catastrophic inundation of the Libyan coastal city of Derna, which claimed the lives of thousands, the focus has shifted to providing care for the survivors.
Estimates of the death toll vary significantly. The most recent official figure, as reported by the health minister of the eastern-based administration, Othman Abdeljalil, stands at 3,166 lives lost. However, a United Nations report released on Sunday indicates that the toll in Derna alone has climbed to 11,300, with another 10,100 individuals still unaccounted for.
Aid is now pouring into the North African nation as the global community rallies to support emergency services in coping with the aftermath of this deadly deluge.
At least 40,000 people have been displaced across northeastern Libya, according to the International Organization for Migration, with the actual number likely higher due to difficulties accessing the hardest-hit areas.
The disaster was triggered when two dams upstream from Derna burst under the torrential rains brought by the hurricane-strength Storm Daniel. These dams had been constructed to safeguard the port city of 100,000 people after it suffered severe flooding in the mid-20th century.
A week later, bodies are still being discovered, with rescue teams making grim findings.
International assistance is arriving from the United Nations, Europe, and the Middle East, providing much-needed relief to the thousands of survivors. This aid includes essential medicines, surgical supplies, and body bags for the deceased. Tents, blankets, carpets, hygiene kits, and food are also being airlifted in, along with heavy machinery to aid in debris removal.
- Questions Arise –
The devastation exacerbated by Storm Daniel’s flooding has raised questions about why this disaster was not prevented, especially when cracks in the dams were known about since 1998.
An investigation into the circumstances leading to the dam collapse has been announced by the Prosecutor General Al-Seddik Al-Sour.
Like much of Libya’s crumbling infrastructure, the two dams that were meant to protect Derna had fallen into disrepair amid years of neglect and conflict in the country, which descended into chaos after the NATO-backed uprising that ousted and killed longtime dictator Moamer Kadhafi in 2011.
Libya currently operates under two rival administrations that have been vying for control since Kadhafi’s ousting.
With tens of thousands of people displaced, aid organizations have sounded the alarm about the risks posed by unexploded ordnance and landmines, some of which floodwaters have relocated into areas previously declared clear.
Waterborne diseases, including cholera, pose a high risk according to aid groups.
Outside Derna, the floods claimed an additional 170 lives, as reported in the UN’s assessment. The National Centre for Disease Control noted that at least 55 children fell ill due to drinking contaminated water in Derna.
To assist the hundreds of thousands of individuals in need, the UN has initiated an appeal for over $71 million.
The scale of the devastation has prompted displays of solidarity, with volunteers in Tripoli gathering aid for flood victims.
Survivors in Derna, while mourning the loss of loved ones, are grateful to be alive.
“In this city, every single family has been affected,” said Derna resident Mohammad al-Dawali.
Seir Mohammed Seir, a member of the security forces, recounted the survival of a three-month-old girl amid the tragedy, as her entire family perished.
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World Biz
7-Eleven owner rejects initial takeover bid from Canadian rival
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The Japanese owner of 7-Eleven said Friday it had rejected a takeover bid from Canadian retail giant Alimentation Couche-Tard, saying the proposal “grossly undervalues” the company.
The proposed purchase of Seven & i Holdings would be the biggest ever foreign takeover of a Japanese firm and combine 7-Eleven, Circle K and other brands across Asia, North America and Europe.
As the world’s biggest convenience store chain, 7-Eleven operates more than 85,000 outlets globally.
Although the brand began in the United States, since 2005 it has been wholly owned by Seven & i.
A letter from the Seven & i board to Alimentation Couche-Tard (ACT) said it was open to “engaging in sincere discussions should you put forth a proposal that fully recognises our standalone intrinsic value”.
“We do not believe, for several critical reasons, that the proposal you have put forward provides a basis for us to engage in substantive discussions regarding a potential transaction,” it said.
ACT operates more than 16,700 outlets in 31 countries and territories.
Its purchase of Seven & i would be the biggest ever foreign takeover of a Japanese firm and create an international convenience store behemoth combining 7-Eleven, Circle K and other brands across Asia, North America and Europe.
Seven & i said ACT had offered $14.86 per share in cash, which roughly matches its market value of $39 billion.
But the board’s letter called the proposal “opportunistically timed” and said it “grossly undervalues our standalone path and the additional actionable avenues we see to realise and unlock shareholder value”.
It also raised regulatory concerns.
“Your proposal does not adequately acknowledge the multiple and significant challenges such a transaction would face from US competition law enforcement agencies,” it said.
A quarter of 7-Eleven stores are found in Japan where they are a beloved institution, selling everything from concert tickets to pet food and fresh rice balls.
Seven & i Holdings’ other businesses include a major supermarket operator, restaurant chain Denny’s, and Tower Records — a once-popular US record store that went bankrupt.
Seven & i has reportedly asked the Japanese government to designate parts of the company as “core”, which would make a takeover more difficult.
Brands with the “core” rating in Japan include manufacturers in the nuclear, space, rare earths and chip industries, as well as cybersecurity and infrastructure operators.
The Canadian firm, however, is confident that it can have its way.
CEO Brian Hannasch told an earnings briefing in New York on Thursday that Couche-Tard could “even consider a higher leverage if needed”, indicating it has the capacity to raise more funds, according to Nikkei Asia.
“We have the solid and robust balance sheet,” Nikkei quoted Hannasch as saying.
Shares in Seven & i were down 1.9 percent in Tokyo on Friday.
World Biz
After Telegram founder arrest, Russians fear loss of ‘main information source’
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France’s arrest of Telegram chief Pavel Durov has raised fears in Russia that the popular messaging app — used both by the Kremlin and its opponents — could be blocked, depriving them of one of the last sources of critical, uncensored news.
Since the start of its offensive in Ukraine in February 2022, Russia has cracked down on dissent and protest, leaving Russians without independent news outlets or access to Western social media such as Facebook, Instagram and X, formerly Twitter.
In that climate, Telegram — which was itself blocked for a period by the Kremlin for refusing to cooperate with Russian law enforcement agencies — has become one of the last bastions of free speech and uncensored information.
Moscow now fears for the fate of the messenger and its Russian-born founder Durov, charged late August with failing to curb extremist and illegal content on the platform.
Though he has been released on bail, he cannot leave the country and the Kremlin has warned France against turning the case against him “into political persecution.”
Durov’s arrest is not the only headache the privately-owned service faces.
The European Commission is also investigating whether Telegram has more EU users than claimed and must therefore comply with more stringent rules.
– ‘For all Russians’ –
In Russia, Telegram channels widely cover subjects that are otherwise strictly censored in state media.
That includes everything from front-line reports of the conflict in Ukraine to trials of Kremlin critics and manifestos dispatched from political prisoners.
The most popular channels have millions of subscribers.
The Kremlin, government ministries and regional governors also use Telegram as their go-to public communications tool.
“Telegram is a very practical and reliable messaging service for all Russians, regardless of their political opinions,” said Alexei Venediktov, head of the Echo of Moscow radio station, blocked in Russia after its criticism of the Ukraine offensive.
The messaging service “is considered independent of the Russian state,” the veteran journalist — who has over 200,000 subscribers there — told AFP.
Blocking Telegram would be equivalent to “a measure of censorship,” he said.
– ‘Main source of information’ –
Telegram’s popularity has grown steadily in Russia throughout the Ukraine conflict, after Russia blocked access to Instagram, Facebook and X, as well as the websites of several opposition media outlets.
It is the fourth most popular online service, ahead of YouTube and the Russian social network VKontakte, according to a study by Russian media research group Mediascope.
It is also heavily focused on news. Two-thirds of its Russian readers prefer to follow political and news channels, with only six percent preferring entertainment or cinema, for instance.
Mila, a 45-year-old psychologist, said she started using it after Facebook was blocked and she now subscribes to some 80 Telegram news channels. She also uses it to communicate privately with friends who are against the offensive in Ukraine.
“Today, it is my main source of information. If Telegram stops working, it will hurt me a lot,” Mila told AFP, speaking on condition her full name not be used.
Naida, a 56-year-old logistician said she trusts Telegram more than other messaging services.
“And all the news is there, you don’t need to have a VPN on all the time,” she said.
Telegram is now “the main source of information” for those seeking independent views, said political scientist Tatiana Stanovaya of the Carnegie Russia Eurasia Center.
“Telegram has no alternative” in Russia, she said, adding the free flow of information on the service is a throwback to before President Vladimir Putin began to crack down hard on dissent.
– Battlefield communications –
Amid the conflict in Ukraine, the platform has also become a key military communication tool.
Both Russia and Ukraine warn their populations of incoming air attacks via Telegram posts, while their armies use it to communicate and coordinate internally.
“Telegram has almost become the main way of commanding units on both sides of the front,” said Mikhail Zvinchuk, a former military officer whose Telegram blog on the conflict, Rybar, has more than 1.3 million subscribers.
Pro-Kremlin Russian journalist Andrei Medvedev also said Telegram was “the main messaging service” of the conflict.
“It is an alternative to the secret military communication system,” he said.
Thanks to its broad appeal across the political spectrum, the fate of Durov and the implications for the site have become a rare point of unifying concern.
Russian opposition politician Ilya Yashin, recently released as part of a historic prisoner exchange with the West, is among those who have taken Durov’s side.
“I do not consider Pavel Durov a criminal, and I hope that he will be able to prove his innocence,” Yashin said.
Economy
UN Chief Guterres Pledges Support to Bangladesh’s Interim Govt for Democratic Restoration
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United Nations (UN) Secretary-General António Guterres has pledged the UN’s full support to Bangladesh’s interim government in its efforts to restore an inclusive and prosperous democracy. In a message directed to Chief Adviser Prof Dr. Muhammad Yunus, Guterres expressed his best wishes following Yunus’s assumption of the interim government’s leadership and lauded the efforts to bring stability and organize parliamentary elections in Bangladesh.
“Bangladesh is at a pivotal moment in its history,” Guterres remarked. “The United Nations is fully committed to supporting the efforts towards an inclusive and prosperous democracy. We are ready to work closely with your government and provide any necessary assistance through the Resident Coordinator and the United Nations Country Team to benefit the people of Bangladesh.”
Guterres emphasized that during this transitional phase, Prof Yunus’s leadership will be critical in ending violence, ensuring accountability, restoring law and order, and steering the country towards democratic elections.
He also underscored the importance of adopting an inclusive approach by the interim government, highlighting the need to consider the voices of youths, women, minorities, and indigenous communities.
Additionally, the UN Secretary-General urged the interim government to ensure the protection of all citizens, particularly minorities, and expressed concern over the situation of Rohingya refugees. “I strongly encourage you to safeguard the wellbeing of Rohingya refugees, especially in light of the worsening situation in the Republic of the Union of Myanmar,” he stated.