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- Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights Total revenue increased 11 percent to $1.57 billion ; GAAP operating margin was 22 percent, down 2 percentage points; Non-GAAP operating margin was 36 percent, down 3 percentage points; GAAP income from operations was $346 million , compared to $334 million ; Non-GAAP income from operations was $573 million , compared to $547 million ; GAAP diluted EPS was $1.27 ; Non-GAAP diluted EPS was $2.17 ; Cash flow from operating activities was $209 million ; free cash flow was $199 million . "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Total billings increased 28 percent to $1.54 billion . Total revenue was $1.57 billion , an increase of 11 percent as reported, and 12 percent on a constant currency basis. Recurring revenue represents 97 percent of total. Design revenue was $1.30 billion , an increase of 9 percent as reported, and 10 percent on a constant currency basis. On a sequential basis, Design revenue increased 3 percent as reported and on a constant currency basis. Make revenue was $171 million , an increase of 28 percent as reported and on a constant currency basis. On a sequential basis, Make revenue increased 6 percent as reported and 5 percent on a constant currency basis. Subscription plan revenue was $1.46 billion , an increase of 11 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 3 percent as reported and 4 percent on a constant currency basis. Net revenue retention rate remained within the range of 100 to 110 percent, on a constant currency basis. GAAP income from operations was $346 million , compared to $334 million . GAAP operating margin was 22 percent, down 2 percentage points. Total non-GAAP income from operations was $573 million , compared to $547 million . Non-GAAP operating margin was 36 percent, down 3 percentage points. GAAP diluted net income per share was $1.27 , compared to $1.12 . Non-GAAP diluted net income per share was $2.17 , compared to $2.07 . Deferred revenue decreased 9 percent to $3.66 billion . Unbilled deferred revenue was $2.45 billion , an increase of $1.24 billion . Remaining performance obligations ("RPO") increased 17 percent to $6.11 billion . Current RPO increased 14 percent to $4.01 billion . Cash flow from operating activities was $209 million , an increase of $191 million . Free cash flow was $199 million , an increase of $186 million . Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Full Year Fiscal 2025 The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved.Master plan:10 acres earmarked land is meant for augmentation of health infra
AKRON, Ohio , Dec. 10, 2024 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that it will hold its annual general meeting of shareholders at 428 South Seiberling Street, Akron, Ohio , US on January 7, 2025 at 10:00 a.m., New York time. Holders of record of ordinary shares and Class A preference shares of the Company at the close of business on December 20, 2024 , New York time (the "Record Date") are entitled to receive notice of, and to attend and vote at, the annual general meeting or any adjournment thereof. Holders of the Company's American Depositary Shares ("ADSs") who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company's ADS program, Deutsche Bank Trust Company Americas. The notice of the annual general meeting, which sets forth the resolutions to be submitted to shareholder approval at the annual general meeting is available on the Investor Relations section of the Company's website at https://ir.btcm.group . The Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the "SEC") on May 15, 2024 . Shareholders may obtain a copy of the Company's annual report, free of charge, from the Company's website at https://ir.btcm.group and on the SEC's website at www.sec.gov , or by contacting BIT Mining Limited at 428 South Seiberling Street, Akron, Ohio , US, attention: Victor He , telephone: +1 (330) 676-2680, email: ir@btcm.group . About BIT Mining Limited BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing. The Company is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data centers that strengthen its profitability with steady cash flow, the Company also conducts self-mining operations that enhance its marketplace resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The Company also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/ DOGE miners and ETC miners. Safe Harbor Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. For more information: BIT Mining Limited ir@btcm.group ir.btcm.group www.btcm.group Piacente Financial Communications Victor He Tel: +1 (330) 676-2680 Email: BITMining@thepiacentegroup.com View original content: https://www.prnewswire.com/news-releases/bit-mining-limited-to-hold-annual-general-meeting-on-january-7-2025-302327447.html SOURCE BIT Mining LimitedFrench president criticises Haitian officials for prime minister’s dismissal
Israel said Tuesday it had bombed more than 350 military sites in Syria during the previous 48 hours, targeting “most of the strategic weapons stockpiles” in the country. Israeli Prime Minister Benjamin Netanyahu said the in neighboring Syria was necessary to keep the weapons from being used against Israel following the Syrian government’s . Israel also acknowledged its troops were inside Syria, which was established after the 1973 Mideast war. However, Israel denied its forces were advancing Tuesday toward the Syrian capital of Damascus. was slowly returning to normal after ousted President Bashar Assad over the weekend. People celebrated for a third day in a main square, and shops and banks reopened. The United States said Tuesday it would recognize and that renounces terrorism, destroys chemical weapons stocks and protects the rights of minorities and women. Syria's nearly 14-year civil war killed nearly half a million people and displaced half of the country’s prewar population of 23 million, becoming a proxy battlefield for regional and international powers. Here's the Latest: SAYDNAYA, Syria — Tens of thousands came to Saydnaya Prison from all over Syria after the fall of former President Bashar Assad to search for their loved ones. The place so notorious for its horrors was long known as “the slaughterhouse.” For the past two days, all have been who disappeared years or even decades ago into the secretive, sprawling prison just outside Damascus. But hope gave way to despair Monday. People opened the heavy iron doors lining the hallways to find cells inside empty. With sledgehammers, shovels and drills, men pounded holes in floors and walls, looking for what they believed were secret dungeons, or chasing sounds they thought they heard from underground. They found nothing. Insurgents freed dozens of people from the Saydnaya military prison on Sunday when Damascus fell. Since then, almost no one has been found. “Where is everyone? Where are everyone’s children? Where are they?” said Ghada Assad, breaking down in tears. An estimated 150,000 people were detained or went missing in Syria since 2011 — and tens of thousands of them are believed to have gone through Saydnaya. WASHINGTON — The top U.S. military commander for the Middle East was on the ground in Syria on Tuesday, meeting with a Kurish-led, U.S.-allied force at several bases in the country's east, U.S. Central Command said. Army Gen. Erik Kurilla visited with U.S. military commanders and troops as well as the Kurdish-led Syrian Democratic Forces. It wasn’t clear if he met with SDF leader Mazloum Abdi, and U.S. Central Command did not respond to a request for details about his visit or with whom he met. U.S. officials said they did not know what his message to the SDF was. The U.S has about 900 troops in Syria, including forces working with Kurdish allies in the northeast to prevent any resurgence of the Islamic State group. In a press release, Central Command said Kurilla received an “assessment of force protection measures, the rapidly evolving situation, and ongoing efforts to prevent ISIS from exploiting the current situation.” Kurilla then went on to Iraq where he met with leaders in Baghdad. UNITED NATIONS – The United Nations says it still getting reports about the looting of warehouses with humanitarian aid in a number of areas in Syria, including around the capital Damascus. U.N. spokesman Stephane Dujarric told reporters Tuesday that U.N. agencies and their partners are working to identify the extent of looting at the warehouses, including those of U.N. agencies and the Syrian Arab Red Crescent. Dujarric said U.N. aid officials report that “the humanitarian situation remains volatile across Syria, with reports of people continuing to be displaced.” Humanitarian officials reported that 25 trucks carrying U.N. aid crossed from Turkey to northwest Syria, which the situation is now relatively calm, the U.N. spokesman said. All 11 receptions opened in Idlib in the northwest to host newly displaced families were empty as of Monday, Dujarric said. In the northeast, he said, authorities report that as of Tuesday 100,000 people have been displaced due to fighting in Tal Rifaat and other parts of Aleppo governorate. Dujarric said the U.N.’s partners report that “reception centers in Tabqa and Raqqa have reached full capacity, and more than 200 sites – including municipal buildings, schools, mosques, and stadiums – are being used to accommodate newly displaced people.” BEIRUT — The Lebanese army said Tuesday that “unidentified gunmen” crossed the border from Syria into eastern Lebanon's Bekaa province and approached a Lebanese border post. In a statement, the army said the gunmen fired into the air and seized equipment from an evacuated Syrian army post in the outskirts of Kfar Fouq, near Rashaya al-Wadi, in the western part of Bekaa province. Lebanese army personnel responded with warning shots, forcing the group to retreat back into Syrian territory. The Lebanese army did not report any injuries or provide further details about the identity of the gunmen. WASHINGTON — Yemen’s Houthi rebels launched multiple drones and a missile at three commercial ships being escorted in the Gulf of Aden by U.S. Navy ships, a U.S. official said Tuesday. There was no damage and no injuries. The official, who spoke on condition of anonymity to discuss military operations, said U.S. Navy destroyers, and Navy helicopter and a French Air Force aircraft shot down four of the drones and the missile. The three U.S. affiliated flagged ships were sailing east toward Djibouti. The Iran-backed Houthis have targeted shipping through the key waterway for more than a year, attacks they say are meant to force an end to Israel’s war against Hamas in Gaza. JERUSALEM — Israel’s military said it bombed more than 350 sites in Syria during the previous 48 hours, targeting “most of the strategic weapons stockpiles” in the country. There is concern that, with the sudden collapse of the Syrian government, weapons stockpiles could be seized by jihadi militants. Warplanes hit what Israel said were Syrian air defense systems, military airfields, missile depots, and dozens of weapons production sites in the cities of Damascus, Homs, Tartus, Latakia, and Palmyra, the Israeli army statement said. In naval operations overnight Monday, Israeli missile ships struck two Syrian navy facilities simultaneously — Al-Bayda port and Latakia port — where the army said 15 Syrian naval vessels were docked. Israeli did not specify how many Syrian naval vessels were hit. The private security firm Ambrey said it had seen evidence that at least six Soviet-era Syrian navy missile ships were hit. Israeli officials said earlier that Israel also targeted alleged chemical weapons sites. JERUSALEM — Israeli Prime Minister Benjamin Netanyahu confirmed Tuesday that his country’s military launched a wave of airstrikes across Syria to destroy the toppled government’s leftover “military capabilities,” and said Israel wants relations with the new government emerging Syria. Hours after Israeli warplanes pounded Syria, Netanyahu said Israeli doesn’t want to meddle in Syria’s internal affairs, but would take necessary steps to protect Israel's security and prevent jihadi militants from seizing the Syrian army assets. He warned that if the new Syrian government “allows Iran to re-establish itself in Syria or allows the transfer of Iranian weapons or any other weapons to Hezbollah, or attacks us -- we will respond forcefully and we will exact a heavy price from it.” He spoke in a video statement recorded at the Kirya military headquarters in Tel Aviv, after his first day of testimony in his corruption trial. DAMASCUS, Syria — In Umayyad Square in Damascus, Syrians celebrated the fall of President Bashar Assad for the third day on Tuesday despite Israeli airstrikes across the country. Insurgents who recently took control of the capital city tried to impose a new rule banning the celebratory gunfire. There were a few violators, and much less deafening gunfire. Protesters climbed the square's central monument to wave the Syrian revolutionary flag. On the ground, crowds chanted: “Out with Bashar! Out with Bashar!” Assad over the weekend after a lightning rebel offensive toppled his brutal police state. Demonstrators from different provinces marched in the square in groups, celebrating Assad's fall. Men on motorcycles and horses paraded into the square. One woman from Idlib province shouted that the Israeli strikes ruined the joy of ousting Assad. “Why are you striking us? We just deposed a tyrant,” she said. “Give us peace. Leave us alone,” said Ahmed Jreida, 22, a dentist student, when asked about the Israeli airstrikes. Hamzeh Hamada, 22, said this was the first time he had gone out to a demonstration. “We want the country to get better, to live in dignity and be like other countries that respect citizens’ rights and where there are no bribes,” he said. “We have suffered a lot from bribes. ... We had to bribe people for very minor things; things that should be our right.” Abdul-Jalil Diab was taking a stroll with his brothers in another square in western Damascus. He said he came back from Jordan the day Damascus fell. He was there studying German to prepare to move to Germany and said he is now reconsidering his plans. He was ecstatic, saying words can’t describe how he feels. “We are happy to get rid of the corrupt regime that was based on bribes. The whole country feels better. Everyone is happy and celebrating,” Abdul-Jalil Diab said. QAMISHLI, Syria — Residents of northeast Syria in the area around Qamishli airport said Tuesday they heard explosions overnight after an airstrike hit trucks loaded with rockets and ammunition that were heading to a military base in Tartab. “We don’t know the story. It was only in the morning when we realized they are trucks loaded with ammunition, leftovers of the former army, the regime,” said Ibrahim al-Thalaj, who lives near the base. He said residents assumed that the strikes were Israeli. Israel has carried out a heavy wave of airstrikes across Syria targeting military infrastructure after Syrian insurgents toppled the government of Bashar Assad. However, Turkish security officials said Tuesday that the strike in Qamishli was carried out by Turkey, targeting weapons and ammunition that were abandoned by the Syrian army and seized by Syrian Kurdish militants. The explosions lasted for over 20 minutes after the strike, and many houses in the surrounding area were damaged as a result, residents of the area said. “We just felt a strike hitting. It hit the first one (truck) and we saw the other trucks retreating back, and from there rockets and shells started flying over,” said Hamid al-Asaad, an eyewitness from Qub al-Zeki village in Qamishli. “We were sitting when these explosions started to hit the house,” said Mahmoud Hamza of Tartab. “It was hitting randomly and we didn’t know where it was coming from. ... Once we got out of our house, a rocket hit the house.” There were no details released by the local Kurdish administration regarding the explosions, but members of the Kurdish-led Syrian Democratic Forces blocked the road to the base. BRUSSELS — The European Union’s top diplomat is concerned that Syria might violently fall apart like neighboring Iraq, or Libya and Afghanistan if its territorial integrity and the rights of minorities are not protected. “The transition will present huge challenges in Syria and in the region,” EU foreign policy chief Kaja Kallas told European lawmakers on Tuesday during a special hearing. “There are legitimate concerns about the risks of sectarian violence, extremist resurgence and the governance vacuum, all of which must be averted. We must avoid a repeat of the horrific scenarios of Iraq, Libya and Afghanistan,” she said. “The rights of all Syrians, including those of many minority groups, must be protected,” she said. “It is crucial to preserve the territorial integrity of Syria, and to respect its independence, its sovereignty, as well as the state institutions.” Kallas also said the collapse of the government has shown that Assad’s backers in Russia and Iran “could neither afford to do it any longer, nor had any interest of being present in the aftermath.” “They are weakened, distracted and overstretched in other theaters in the broader Middle East, but also in Ukraine,” she said. ANKARA, Turkey — Turkey’s intelligence agency, MIT, has attacked a convoy of trucks that was allegedly carrying missiles, heavy weapons and ammunition that were abandoned by the Syrian government and reportedly seized by Syrian Kurdish militias, Turkish security officials said Tuesday. The officials said 12 trucks, two tanks and two ammunition depots were “destroyed” in aerial strikes in the city of Qamishli, near the border with Turkey in northeast Syria. The officials provided the information on condition of anonymity in line with Turkish regulations. They did not say when the attack occurred. The officials said the intelligence agency detected that weapons left by the Syrian government forces were being moved to warehouses belonging to the Syrian Kurdish People’s Defense Units, or YPG. Turkey views the group as a terrorist organization because of its links to the banned Kurdish militants that have led a decadeslong insurgency in Turkey. According to the officials, he group was allegedly planning to use the equipment and supplies against Turkish security forces. By Suzan Fraser WASHINGTON — The White House is signaling its approval of Israel’s strikes against Syrian military and alleged chemical weapons targets and the seizure of a buffer zone in the Syrian Golan Heights after the fall of the Assad government. “These are exigent operations to eliminate what they believe are imminent threats to their national security,” White House national security spokesman John Kirby said Tuesday, saying the U.S. would leave it up to the Israelis to discuss details of their operations. “They have as always the right to defend themselves,” Kirby said. He declined to detail and U.S. intelligence cooperation with the Israelis that went into the strikes. Kirby said the White House was reasserting its support of the 1974 Golan Heights disengagement agreement, but didn’t criticize the Israeli seizure of the demilitarized zone. Israel has a long history of seizing territory during wars with its neighbors and , citing security concerns. Israel captured the Golan Heights from Syria in the 1967 Mideast war and annexed it in a move not recognized internationally, except by the United States. WASHINGTON — The Biden administration says it will recognize and support a new Syrian government that renounces terrorism, destroys chemical weapons stocks and protects the rights of minorities and women. Secretary of State Antony Blinken said in a statement Tuesday that the U.S. would work with groups in Syria and regional partners to ensure that the transition from President Bashar Assad’s deposed government runs smoothly. He was not specific about which groups the U.S. would work with. Blinken says Syrians should decide their future and that other countries should “support an inclusive and transparent process” and not interfere. “The United States will recognize and fully support a future Syria government that results from this process,” he said. “We stand prepared to lend all appropriate support to all of Syria’s diverse communities and constituencies.” DAMASCUS, Syria — Jihad Mustafa Shibani was taking his new motorcycle for a spin with a friend around the house of the deposed Syrian president in western Damascus on Tuesday. Shibani was released from prison a week before the capital Damascus fell, after he served two years on charges of buying his motorcycle using foreign currency on accusations he was dealing in dollars. He was tortured for 15 days and and given a quick trial where he was sentenced for two years, he said. He was released the day Aleppo fell to the insurgents. “Everything was banned in Syria. The (Assad loyalists) only could use it,” Shibani said. He said he has never been to this neighborhood, because it was taken over by Assad, his family and supporters. “For 50 years, my family’s house is near here, and we don’t know anything about it. ... The Syrian people had been oppressed, you can’t imagine.” Shibani said he has no fear of the rebel newcomers who have taken control of the country. “We are not afraid. There can be no one more unjust than Bashar. Impossible.” BEIRUT — Lebanon’s prime minister is in contact with security and judicial officials to follow up on reports that senior members of President Bashar Assad’s government have fled to Lebanon. Najib Mikati’s office quoted him as saying that Lebanon abides by international laws regarding people who cross its borders. Rami Abdurrahman of the Britain-based Syrian Observatory for Human Rights, an opposition war monitor, said that several top security officials have entered Lebanon over the past two days. Abdurrahman added that Syria’s former intelligence chief Ali Mamlouk, who is wanted in Lebanon over two bombings in 2012 in the northern city of Tripoli that killed dozens, was allegedly brought to Lebanon by the Hezbollah militant group and was staying in a southern suburb of Beirut where the group has deep support. Lebanon’s Interior Minister Bassam Mawlawi, whose ministry is in charge of border crossings, told reporters Tuesday that no person who is wanted in Lebanon entered the country through legal border crossings. There are dozens of illegal border crossings between Lebanon and Syria where people are usually smuggled in and out of Lebanon, but it was not possible to independently confirm whether Mamlouk had entered Lebanon. GENEVA — The United Nations says humanitarian operations in two major areas in northwestern Syria have resumed, deploying food, medical supplies, fuel and other needed services and supplies. Spokesman Jens Laerke of the U.N. Office for the Coordination of Humanitarian Affairs reported that some health facilities were “overwhelmed” – in part due to staff shortages – and many border crossings have been closed, disrupting supply chains. OCHA said humanitarian operations in some parts of northwestern Syria were put on hold in the early days of the recent escalation, and resumed on Monday. “As of yesterday, all humanitarian organizations in Idlib and northern Aleppo have resumed operations,” Laerke told reporters at a U.N. briefing in Geneva. He said the three border crossings from Turkey used by the U.N. to deliver assistance into Syria remain open and “we are providing assistance in the northwest, including to those who have been newly displaced.” Even before the latest escalation, which led President Bashar Assad to flee the country, nearly 17 million people in Syria needed humanitarian assistance. More than 1 million have been displaced across Idlib, Aleppo, Hama and Homs since the escalation. JERUSALEM — Israel's Defense Minister Israel Katz said Tuesday that Israel's military destroyed Syria’s fleet overnight and intends to establish a demilitarized zone “in southern Syria” to prevent attacks on Israel. He also issued a warning to Syria’s rebels, saying that “whoever follows Assad’s path will end up like Assad — we will not allow an extremist Islamic terrorist entity to act against Israel across its border while putting its citizens at risk.” Speaking at a naval base in Haifa, Katz said the Israeli navy “operated last night to destroy the Syrian fleet and with great success.” Video showing the smoking wreckage of what appeared to be small Syrian naval ships in the port at Latakia was broadcast by Saudi-owned television station Al-Hadath on Tuesday. The Britain-based Syrian Observatory for Human Rights, which has closely tracked the conflict since the civil war erupted in 2011, said Israel targeted Syrian warships, military warehouses and an air-defense facility on the coast. Katz added that he had instructed the army to establish a “defense zone free of weapons and terrorist threats in southern Syria, without a permanent Israeli presence, in order to prevent terrorism in Syria from taking root and organizing.” It was unclear if the demilitarized zone would reach beyond the buffer zone that Israel has taken over in the border area. Israel has a long history of seizing territory during wars with its neighbors and , citing security concerns. Israel captured the Golan Heights from Syria in the 1967 Mideast war and annexed it in a move not recognized internationally, except by the United States. DAMASCUS, Syria — Members of the Syrian government under ousted President Bashar Assad will gradually transfer power to a new transitional cabinet headed by Mohammed al-Bashir. The departing government met with al-Bashir for the first time since Assad fled Damascus over the weekend. Al-Bashir had previously led the “salvation government” running the rebel stronghold in northwest Syria. Al-Bashir told reporters after the meeting that the ministers discussed transferring the portfolios to the interim government during the transitional period until the beginning of March. He said that in the coming days the new government will decide on each ministry. DAMASCUS, Syria — Banks and shops are reopening in Damascus after the chaos and confusion of the first two days following the ouster of President Bashar Assad. Sadi Ahmad, manager of Syria Gulf Bank, said life is returning to normal. A customer who came to withdraw money from an ATM was surprised to see it functioning. At the historic Hamadiyeh market, fighters who seized power were still standing guard but shops had reopened — even an ice cream stand. Resident Maysoun Al-Qurabi said she was initially “against what happened,” referring to the insurgency, but changed her mind after seeing footage of rebels releasing inmates from the notorious Saydnaya prison. “People are at ease and secure now,” she said. “Before, people were hungry and scared.” DAMASCUS, Syria — Minority Christians in Syria have been living in a state of uneasy anticipation since insurgents headed by the Islamic militant group Hayat Tahrir Al-Sham took control after ousting President Bashar Assad. Mazen Kalash, a resident of Bab Touma, a Christian neighborhood in Damascus, said he wants to know the plans of the new government that will be formed by the rebels. “The important thing is to feel safe, bring order, law and respect to the citizens,” he said. “We need to be able to work whatever we want and do whatever we want without any interference from anyone.” The insurgents have so far attempted to reassure minorities that they will be protected. Large numbers of Syrian Christians, who made up 10% of the population, fled after the civil war erupted in 2011. Many of those who stayed supported Assad out of fear they might be targeted by Islamist insurgents. TEL AVIV, Israel — Israeli Prime Minister Benjamin Netanyahu lashed out at media during testimony at his corruption trial, which involves media moguls. “There has never been such a biased media in any democracy ... as there is in Israel,” Netanyahu told the court, describing his testy relationship with the press. He is accused of exchanging regulatory favors with media bosses for more positive coverage of himself and his family. He has denied wrongdoing. GENEVA — The U.N. envoy for Syria says armed groups that drove out President Bashar Assad have “been sending good messages” about national unity and inclusiveness but acknowledges that a Security Council resolution still counts the leading one as a terrorist group. With Syria’s future and stability still very much in flux since Assad’s departure over the weekend, Geir Pedersen suggested that the international community needs to help the country get through this turbulent moment. “We are still in what I would call a very fluid period. Things are not settled,” Pedersen told reporters at U.N. offices in Geneva on Tuesday. “There is a real opportunity for change, but this opportunity needs to be grasped by the Syrians themselves and supported by the U.N. and the international community.” Referring to Israeli military strikes in Syria, Pedersen said it was “extremely important that we now don’t see any action from any international country that destroys the possibility for this transformation in Syria to take place.” The insurgents are led by Hayat Tahrir al-Sham, or HTS, which grew out of an al-Qaida-affiliate called the Nusra Front that the Security Council listed as a terror group in a 2015 resolution. “This is obviously a complicating factor for all of us,” Pedersen said. “But we also have to be honest, we have to look at the facts and to see what has happened during the last nine years.” “The reality so far is that the HTS and also the other armed groups have been sending good messages to the Syrian people,” he said. “They have been sending messages of unity, of inclusiveness, and frankly speaking, also, we have seen in (the captured cities of) Aleppo and in Hama ... reassuring things on the ground." Ahmad al-Sharaa, previously known by his nom de guerre Abu Mohammed al-Golani, the leader of the insurgency and the founder of both groups Nusra and HTS, cut ties with al-Qaida in 2016 and says he is committed to pluralism and religious tolerance. ANKARA, Turkey — Turkey has “strongly” condemned Israel’s advance into Syrian territory, saying it was in violation of a 1974 agreement on a buffer zone inside Syria. “We strongly condemn Israel’s violation of the 1974 Separation of Forces Agreement, its entry into the separation zone between Israel and Syria, and its advance into Syrian territory,” Turkey’s Foreign Ministry said in a statement. The ministry accused Israel of “displaying a mentality of an occupier” at a time when the possibility of peace and stability had emerged in Syria. The statement also reiterated Turkey’s support to Syria’s “sovereignty, political unity, and territorial integrity.” Israeli troops on Sunday entered the buffer zone that had been established after the 1973 Mideast war and the military said it would deploy in “several other places necessary for (Israel’s’) defense.” TEL AVIV, Israel — Prime Minister Benjamin Netanyahu says he works 17 to 18 hours a day and that he is engulfed in meetings, especially during the past year that Israel has been fighting wars. Netanyahu was testifying in his long-running corruption trial. He has denied charges of fraud, breach of trust and accepting bribes in three separate cases. “If only I could steal away five minutes to enjoy some time with my wife,” he told the court Tuesday. TEL AVIV, Israel — An Israeli military official says troops plan to seize a buffer zone inside Syria as well as “a few more points that have strategic meaning.” The official spoke Tuesday on condition of anonymity in line with regulations. The official dismissed reports of a larger Israeli invasion as “rumors.” Prime Minister Benjamin Netanyahu said Sunday that Israeli forces were moving to control a roughly 400-square-kilometer (155-square-mile) demilitarized buffer zone in Syrian territory. The buffer zone between Syria and the Israeli-controlled Golan Heights was created by the U.N. after the 1973 Mideast war. Following the overthrow of President Bashar Assad, Israel sent troops into the buffer zone. It said the move was temporary and was aimed at preventing attacks. It said the 1974 agreement establishing the zone had collapsed and that Syrian troops had withdrawn from their positions. Israel has also carried out airstrikes across Syria in recent days targeting what it says are suspected chemical weapons and long-range rockets. Egypt and Saudi Arabia have condemned Israel’s incursion, accusing it of exploiting the disarray in Syria and violating international law. Israel captured the Golan Heights from Syria in the 1967 Mideast war and annexed it in a move not recognized by the international community, except for the United States. The rest of the world views the strategic plateau as occupied Syrian territory. — By Joseph Krauss DAMASCUS, Syria — Israel’s air force has carried out hundreds of airstrikes in different parts of Syria as its ground forces move north of the Golan Heights along the border with Lebanon, according to an opposition war monitor. The Britain-based Syrian Observatory for Human Rights said Tuesday that since the fall of President Bashar Assad’s government, Israel’s air force has carried out more than 300 airstrikes against research centers, arms depots and military infrastructure across Syria, as well as a naval base along the Mediterranean coast. Associated Press journalists in Damascus witnessed intense airstrikes on the city and its suburbs overnight into Tuesday morning. Photographs posted online by activists showed destroyed missile launchers, helicopters and warplanes. Meanwhile, Israeli troops marched along the border with Lebanon and now control a long stretch on the Syrian side facing Lebanon’s Rashaya region, according to the war monitor's head, Rami Abdurrahman, and the Beirut-based Al-Mayadeen TV, which has reporters in Syria. Israeli troops are now about 25 kilometers (15 miles) southwest of Damascus, according to the monitor. DUBAI, United Arab Emirates — Saudi Arabia has condemned and a wave of Israeli airstrikes launched after the overthrow of President Bashar Assad. The Saudi Foreign Ministry said in a statement Tuesday that “the assaults carried out by the Israeli occupation government, including the seizure of the buffer zone in the Golan Heights, and the targeting of Syrian territory confirm Israel’s continued violation of the principles of international law and its determination to sabotage Syria’s chances of restoring its security, stability and territorial integrity.” Israel sent troops into a buffer zone inside Syria that had been established after the 1973 Mideast war. It said the move was temporary and was taken to prevent any cross-border attacks after Syrian troops withdrew. Israel has also carried out heavy airstrikes that it says are aimed at preventing suspected chemical weapons and long-range rockets from falling into the hands of extremists. Saudi Arabia has been in talks with the United States in recent years over normalizing relations with Israel in exchange for a U.S. defense pact, American assistance in establishing a civilian nuclear program and a pathway to the establishment of a Palestinian state. But the kingdom has also repeatedly condemned Israel’s actions in the Gaza Strip, where it is at war with the Hamas militant group. Last month, Saudi Arabia’s crown prince and day-to-day ruler Mohammed bin Salman accused Israel of , allegations Israel adamantly rejects.
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TORONTO — Canada's main stock index lost more than 100 points Tuesday ahead of an expected interest rate cut Wednesday, while U.S. markets were also down. The S&P/TSX composite index closed down 121.09 points at 25,504.33. In New York, the Dow Jones industrial average was down 154.10 points at 44,247.83. The S&P 500 index was down 17.94 points at 6,034.91, while the Nasdaq composite was down 49.45 points at 19,687.24. “Relative to the churn we have seen in the markets the last few days ... today being a little bit of a boring day would be fairly welcome for many investors,” said Stephen Duench, vice-president and portfolio manager for AGF Investments Inc. Wednesday is set to be more exciting, with an interest rate cut expected in Canada and important consumer inflation data coming in the U.S. “I do expect a little bit more fireworks tomorrow,” said Duench. The Bank of Canada is widely expected to announce an outsized cut Wednesday of half a percentage point, he said. “Anything other than that would be a surprise.” The U.S. Federal Reserve has its last decision of the year scheduled for next week, and market watchers are leaning toward a smaller quarter-percentage-point cut there, said Duench. It would be the third cut this year after the central bank hiked rates to a two-decade high to fight inflation. The inflation report will be the last significant data point before the central bank’s decision, Duench said. If the inflation report shows price growth is proving more stubborn than expected, that could change the Fed’s thinking on rates next week, he said. “Maybe that's part of the reason we've seen churn in the market the last few days in the U.S.” Beneath the surface, there was some movement in the tech sector, where Oracle sank 6.7 per cent after its latest earnings report missed expectations. Meanwhile, Google's stock price rose by more than five per cent. The company on Tuesday unveiled its new chip meant for quantum computing. Duench said after the advent of artificial technology led a rally earlier this year, quantum computing could be another frontier for investors to keep an eye on. The Canadian dollar traded for 70.59 cents US compared with 70.77 cents US on Monday. The January crude oil contract was up 12 cents at US$68.59 per barrel and the January natural gas contract was down two cents at US$3.16 per mmBTU. The February gold contract was up US$32.60 at US$2,718.40 an ounce and the March copper contract was down less than a penny at US$4.27 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 10, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressLuke Williams feels Swansea ‘lost grip’ on game despite sealing victory at Derby
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