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October 16, 2024

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Semiconductors sold off on Tuesday, crushing the Technology sector. But the Real Estate sector didn’t suffer a similar fate; in fact, it was the top sector performer for the day. 

The Real Estate Select Sector SPDR Fund (XLRE) reached a 52-week high in mid-September, but has pulled back since then. However, Tuesday’s price action suggests that XLRE may be on the verge of recovering from correction territory. One of XLRE’s top holdings is American Tower Corp (AMT), which happens to be in the top 5 in the Large Cap Top Up StockCharts Technical Rank (SCTR) category.

FIGURE 1. SCTR REPORT FOR OCTOBER 15, 2024. American Tower (AMT) was in the top 5 in the Large Cap Top Up category.Image source: StockCharts.com. For educational purposes.

AMT operates and leases cellular towers to multiple carriers. As bond yields fall, cell tower Real Estate Investment Trusts (REITs) benefit from lower borrowing costs. And when interest rates decline, AMT’s 2.8% dividend yield may be another reason to own the stock.

Technically Speaking

Looking at the weekly chart of AMT (see below), the stock price is trading above its 26-week simple moving average (SMA) and is trying to stay above its 61.8% Fibonacci retracement level. Its SCTR score is just above 70, and the relative strength index (RSI) is trending higher toward 70.

FIGURE 2. WEEKLY CHART OF AMERICAN TOWER STOCK. The stock price is gaining momentum, so keep an eye on the indicators to ensure momentum is still strong enough to take the stock price higher.Chart source: StockCharts.com. For educational purposes.

The more recent series of higher highs and higher lows is an indication that the trend could continue to go higher. Let’s see what story the daily chart of AMT tells.

FIGURE 3: DAILY CHART OF AMERICAN TOWER STOCK PRICE. The breakout above the 50-day SMA, a potential MACD crossover, and rising OBV all support an upward move in AMT.Chart source: StockCharts.com. For educational purposes.

After bouncing above a support level (blue dashed line), the stock price crossed above its 50-day SMA. It’ll have to show a series of higher highs and higher lows to support the upward trend in price. There needs to be momentum for that to occur, and two good indicators to gauge the momentum are the moving average convergence/divergence (MACD) and On Balance Volume (OBV).

The MACD line could soon cross over the signal line just below the zero line. The closer the crossover is to the zero line, the more confident I feel about the sustainability of the uptrend.

Meanwhile, an OBV crossover above its 50-day SMA would further confirm the uptrend in AMT. 

If the price action follows through on the upside, AMT could reach its September 10 high, after which its all-time high would be the next destination. The weekly chart shows a few clear resistance levels along the way.

The one concern is that a head-and-shoulders top could form on the weekly chart. If that were the case, price could fall below the 50% retracement level and 26-week SMA.

Trading AMT

I wouldn’t enter the trade until the price exceeds $234.50 (left shoulder). That gives it time to display a series of higher highs and higher lows on the daily chart. I would place a tight stop below my entry point and stay in the trade if the momentum remains strong. The first target would be the 52-week high. If it exceeds that, I will ride the trend for as long as possible. Once the momentum starts waning, I’d exit my position.

If price moves in the opposite direction, i.e. if a head and shoulders top is formed on the weekly chart, all bets are off. I’d delete this chart from my ChartList. There are plenty of other opportunities.

The bottom line: Set an alert for when AMT crosses above $234.50. When you get the notification, head over to the weekly and daily charts of AMT, which should be saved in one of your ChartLists, and revisit the indicators. Are they still showing bullish momentum? If so, enter a long position, but know where your stops are before you place the trade.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that its entitlement offer closed fully subscribed. The pro-rata non-renounceable entitlement offer of one (1) new fully paid ordinary share for every four (4) fully paid ordinary shares held by eligible shareholders at the record date of 13 September 2024, at an issue price of $0.105 per share (Entitlement Offer) raised $13.3 million (before fees). The Entitlement Offer was extended by one week and closed on 10 October 2024 (Closing Date).

The Entitlement Offer was well supported by Eligible Shareholders who applied for 60,198,783 shares plus all of the shortfall offer of 66,468,031 shares.

The Company advises that the results of the Entitlement Offer were as follows:

Shares

Proceeds

Total number of shares offered under the

Entitlement Offer

126,666,814

$13,300,015

Total number of shares applied for by Eligible

Shareholders under the Entitlement Offer

60,198,783

$6,320,872

Total number of shortfall shares applied for by Eligible Shareholders under the Entitlement

Offer

66,468,031

$6,979,143

TotalSharestobeissuedunderthe

Entitlement Offer

126,666,814

$13,300,015

The shares under the Entitlement Offer will be issued on 17 October 2024.

Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:

“On behalf of the Board, I’d like to sincerely thank our shareholders for their continued support to achieve this outstanding result. To raise $13.3 m in a challenging market is strong validation of Galan’s HMW project in Argentina.

Galan continues to move forward with the development of HMW and remains upbeat about the future of the lithium market.”

The Galan Board has authorised this release.

Click here for the full ASX Release

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Suki AI, a healthcare-focused startup, has secured US$70 million in a Series D funding round aimed at further developing its artificial intelligence (AI) assistant tools for hospitals and medical providers.

Reuters reported on October 10 that the latest round brings the company’s total funding to US$165 million and, according to sources familiar with the deal, values Suki at around US$500 million.

Founded in 2017 by Punit Soni, a former Google (NASDAQ:GOOGL) and Flipkart executive, Suki specializes in developing AI-powered voice assistants designed to alleviate the administrative burden placed on healthcare professionals.

The company’s flagship product, Suki Assistant, is widely used to streamline clinical documentation tasks such as retrieving patient information from electronic health records, taking medical notes and assigning standardized medical codes.

These functions enable healthcare providers to focus more on patient care while reducing time spent on data entry. For instance, Suki Assistant’s speech recognition feature allows doctors to generate medical notes more quickly, helping them complete tasks like reviewing patient histories and summarizing visits with less manual input.

Additionally, the AI can automate the coding of diagnoses and procedures using the ICD-10 system, streamlining the process of documenting patient encounters.

Suki’s products have gained traction as healthcare systems increasingly explore AI solutions to optimize clinical workflows. Since its inception, the company has established partnerships with over 300 health systems and healthcare providers.

Suki’s AI tools also integrate with major electronic health record platforms, such as Epic, Oracle’s Cerner, Athena and MEDITECH, giving it one of the broadest EHR integration portfolios in the industry.

Through the funding, the company aims to enhance the company’s product offerings and accelerate product development.

Despite the momentum, Suki faces competition from several key players in the market, as the healthcare industry has been increasingly adopting AI technologies in recent years.

Microsoft-owned Nuance, which offers Dragon Medical One, is another major presence in the space of AI-based speech recognition and clinical documentation tools. Other startups, such as Abridge, which has raised US$150 million, are also vying for a share of the growing medical AI sector.

Suki has managed to accelerate its growth ahead of its competition. One recent development includes a partnership with Maryland-based MedStar Health, which is rolling out Suki AI to thousands of its clinicians.

According to the company, over a dozen other healthcare systems have either adopted the platform or expanded their use of it within the past two months.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Two separate mining incidents this past week have resulted in fatalities, casting a spotlight on safety practices.

Resource companies G Mining Ventures (TSX:GMIN,OTC Pink:GMINF) and Griffin Mining (LSE:GFM) reported the deaths of workers at their respective sites, both caused by work-related accidents.

The most recent fatality occurred on October 13 at G Mining’s Oko West gold project in Guyana, where a road accident claimed the life of a contractor employed by Hopkinson Mining Security Services, a partner of G Mining.

In a statement, the company expressed its condolences to the family and colleagues of the deceased, and reiterated its commitment to ensuring worker safety across its operations.

Operations at Oko West were unaffected by the incident, as it occurred in an isolated area of the site.

Days earlier, on October 11, Griffin Mining reported the death of a contractor at its Caijiaying zinc-gold-silver-lead mine in China. The worker was trapped when excavated material from an ore pass buried the loader he was operating. Despite being swiftly taken to a nearby hospital, the contractor was pronounced dead upon arrival.

Operations at Caijiaying have been suspended to allow for a comprehensive investigation into the accident.

Mladen Ninkov, chairman at Griffin, addressed the tragedy in a press release, acknowledging the impact on the company’s workforce and the importance of maintaining rigorous safety standards.

“A death in any family or organization is inevitably a tragedy for the family involved and the numerous people, organizations and entities whose life that person would have interacted with on a regular basis,” he said. “It strengthens our continuing resolve to redouble our efforts to ensure safety is our first, second and last priority.’

Both companies have committed to cooperating fully with authorities, and to taking all necessary steps to prevent future tragedies. While global efforts are being made to strengthen occupational safety in the workplace, the incidents serve as reminders of the inherent dangers in mining and the ongoing need for improved safety protocols.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Canadian crypto stocks offer investors exposure to the booming cryptocurrency markets.

Cryptocurrencies are digital currencies that are independent of traditional banking systems. They exist on a blockchain, a secure and immutable transaction record shared among many computer nodes in a network.

The most well-known cryptocurrency is Bitcoin, and the process of generating new Bitcoin units is called mining. When Bitcoin was new, it was easy enough for tech-savvy individuals to mine their own tokens using store-bought hardware. However, as Bitcoin has grown in popularity, mining has become a difficult and expensive process.

That’s why these days most mining is done at the industrial level. Large corporations with capital and the right equipment at their disposal can mine tens or even hundreds of Bitcoin every day. Buying shares of companies that mine crypto or provide crypto services is a way for investors to reap the potential benefits this industry has to offer without risking major losses.

1. SOL Strategies (CSE:HODL)

Company Profile

Year-on-year gain: 662.5 percent
Market cap: C$38.74 million
Current share price: C$0.61

Formerly known as Cypherpunk Holdings, the company rebranded itself to Sol Strategies on September 12. In 2024, the company shifted its focus exclusively to Solana and acquired significant holdings of the cryptocurrency. Its previous mission was to identify and invest in high-potential opportunities in blockchain and cryptocurrency technologies.

In addition to investing in projects on the Solana blockchain, Sol Strategies operates Solana validators.

On September 26, Solana’s valuation surged by nearly 7 percent, causing a subsequent increase in the company’s stock price of almost 60 percent.

Its momentum continued into October, and on October 15 the company announced ‘a significant increase in the amount of SOL delegated to the Company’s public validator for purposes of earning staking rewards on the Solana blockchain.’ Its share price jumped more than 70 percent over its previous close.

2. Bitcoin Well (TSXV:BTCW)

Company Profile

Year-on-year gain: 112.5 percent
Market cap: C$11.27 million
Current share price: C$0.85

Established in 2013, Bitcoin Well makes using bitcoin easy and accessible via an ecosystem of products and services offered through its two revenue-generating business units. The first is its Canada-wide network of Bitcoin ATMs, and the second is its online Bitcoin portal, which is live in Canada as of November 2022 and the entire United States as of February 2024.

Shares of Bitcoin Well reached a yearly high of C$0.25 on March 4 after it announced a record number of signups to its Bitcoin Portal in February, in addition to a brokered financing agreement with Haywood Securities.

More recently, the crypto firm reported its Q2 financials, highlighting revenues of C$23.3 million for the quarter, up 54 percent over the previous quarter. For the first half of the year, revenues came in at C$39.4 million, up 43 percent from the same period last year.

3. DMG Blockchain Solutions (TSXV:DMGI)

Company Profile

Year-on-year gain: 92 percent
Market cap: C$80.74 million
Current share price: C$0.48

DMG Blockchain Solutions is a vertically integrated blockchain and crypto company that helps users monetize the blockchain environment by delivering digital solutions like its Blockseer software platform, which allows traders to monitor and track their transactions on the Bitcoin and Ethereum networks.

Its business model consists of two segments, Core and Core+. Core focuses on crypto infrastructure operations, deriving its revenue from rewards and transaction fees, hosting services and hardware sales to industrial crypto miners. Core+ deals with data analysis and forensic services.

In its fiscal year Q3 report, DMG shared revenues of C$8.3 million, up 11 percent over the prior year. The company attributed the growth to a 5 percent increase in self-mining revenues. On October 4, DMG shared its preliminary results and updates for September, including the successful energizing of its Bitmain T21 mining fleet.

4. Bitfarms (TSX:BITF)

Company Profile

Year-on-year gain: 76.82 percent
Market cap: C$1.15 billion
Current share price: C$2.57

One of the largest Canadian Bitcoin miners, Bitfarms mines Bitcoin using state-of-the-art data centers powered in part by hydroelectricity and locally sourced natural gas. With 12 operating data centers and a hash rate of 11.3 EH/s, it produces an average of 8.2 bitcoin per day.

Bitfarm’s Q2 financial report released on August 8 highlights revenues of C$42 million, down 16 percent over the previous quarter and up 17 percent year-over-year. The company has ‘made significant progress expanding its geographically diversified portfolio, adding 220 MW of capacity in Paraguay and Pennsylvania,’ according to the press release. Later in August, Bitfarms announced a definitive merger agreement to acquire crypto asset management firm Stronghold Digital Mining (NASDAQ:SDIG).

In May 2024, after acquiring shares in Bitfarms, Bitcoin miner Riot Platforms submitted an unsolicited proposal to acquire all outstanding Bitfarms shares, which was rejected by the company’s board of directors. Riot then went public with its offer and launched a proxy fight, criticizing Bitfarm’s management and strategy. A shareholders meeting has been scheduled for November 6, 2024, to vote on Riot’s proposal.

However, on September 23, the two companies announced a settlement agreement. Under the terms of the settlement, former investment banker Amy Freedman was appointed to Bitfarm’s board of directors and Riot Platforms agreed to withdraw its requisition. The shareholders meeting may be delayed due to this event, but according to a press release it will take place no later than November 20.

5. Hut 8 (TSX:HUT)

Company Profile

Year-on-year gain: 26.46 percent
Market cap: C$1.47 billion
Current share price: C$16.25

Hut 8 is an energy infrastructure operator and Bitcoin miner. It operates data centers across North America and boasts self-mining, hosting and managed services. The company has formed partnerships with other companies in the blockchain and technology space.

An expansion of its partnership with digital currency mining server Bitmain Technologies was announced on September 19. The two companies are collaborating to build a miner that utilizes direct liquid-to-chip cooling technology, thereby improving efficiency without compromising performance.

Hut 8 plans to deploy these new miners at its Texas facility in Q2 2025, and will charge Bitmain a fee for the space and power. This deal gives Hut 8 early access to new technology and an alternative revenue source.

The company shared an update on its September operations on October 4.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Copper ore must undergo a complicated refining process to convert it into saleable high-purity copper products, as mined ore typically contains less than 1 percent copper.

Copper refining involves increasing the grade and purity of the metal through a variety of physical, mechanical and chemical processes. One of the first steps in the copper refinement process is beneficiation, also known as concentration.

Copper concentrates are processed further via pyrometallurgy or hydrometallurgy, depending on the different types of ore (e.g. oxide, sulfide) from which they were extracted. Taking the copper refining process further, electrochemical processes are used to produce high-purity copper cathodes that can later be converted to end use products down the value chain.

High-purity copper products are in high demand throughout many of the world’s most important sectors of the economy, from construction and communications, to automotive and electronics. Demand for copper products is also on the rise in the renewable energy sector.

Read on to learn more about the difference between copper concentrate and copper cathodes, the copper refining processes used to make these economically important products, and how they make it to the market.

In this article:

Copper concentrate vs. copper cathode

What’s the difference between copper concentrate and copper cathode? While both are saleable copper products, each represents very different stages along the copper added-value supply chain.

The first stage of concentrate production is generally conducted at or very near mine locations to save on transportation costs. It involves crushing and grinding mined ore into smaller particles to roughly separate copper from waste rock.

The copper is further extracted through flotation, which involves slurrying the ground ore with water and chemical reagents. In this process, air is blown through the mixture, and the copper floats to the top. The copper is then removed with a skimmer. At the end of this step, concentrate levels are typically between 24 and 36 percent copper, depending on their region of origin.

Further liberating the copper from the waste rock depends on the type of ore, whether sulfide or oxide, due to the different chemistries of these separate ore types. Pyrometallurgy, which uses extreme heat, is best suited for copper sulfide ores, while hydrometallurgy, which uses water, is best for copper oxide ores.

The resulting copper concentrate, although still considered an unfinished material at this stage, is considered a saleable copper product. Often in powder form, copper concentrate is purchased by copper smelters to use in the production of copper anode and blister copper, the next saleable copper product in the value-added chain. Blister copper typically falls in a range of 98 percent to 99.5 percent copper purity.

The production of copper cathode is the final stage in the copper refinement process and takes place at a refining plant or smelter. The two main processing pathways to copper cathode are leaching and electro-winning, or smelting and electrolytic refining. You can read more about these below.

Through these copper refining processes, unwanted material is progressively removed from blister copper to the point that the resulting copper cathode product is concentrated at up to 99.99 percent purity, the standard for the highest-grade copper. Copper cathode is used to make copper wire rods, sheets, ingots and copper alloys.

The hydrometallurgical copper refining process

In hydrometallurgy, water-based solutions are used to extract copper from oxide ores. The most commonly used method is heap leaching, which involves percolating chemical solutions to leach out metals. Crushed copper ore is “heaped” onto an impermeable leach pad and then sprayed with a sulfuric acid solution in order to dissolve the copper from the ore, forming a copper solution.

This is typically followed by solvent extraction and electrowinning (SX/EW). This is a newer refining technology that became widely adopted in the 1980s, and roughly 20 percent of the world’s copper production is now produced via this process.

Solvent extraction begins with an organic solvent, which separates copper from impurities and unwanted material. Next, sulfuric acid is added to strip the copper from the organic solvent, producing an electrolytic solution.

This solution goes through the electrowinning process, a form of electrolysis in which an electrical current passes through the copper solution. Positively charged copper ions in the solution are then plated onto a cathode. At 99.99 percent pure copper, the copper cathode is now a value-added saleable copper product.

The pyrometallurgical copper refining process

In pyrometallurgy, intense heat, often at 2,300 degrees Fahrenheit, is applied to extract copper from sulfide ores. After the flotation process described above, the next steps are thickening, smelting in a refiner and electrolysis to produce high-purity copper cathodes.

During the thickening stage, the froth solution produced during flotation is poured into large tanks, allowing solids to settle at the bottom. The solution is then then filtered to remove excess water. At the end of this stage, the resulting copper concentrate is ready to be sent to the smelter.

Chemical reactions that occur during the smelting process cause the concentrate to separate into two layers of molten material: a matte layer and a slag layer. The matte layer, on the bottom, contains the copper, while the slag layer contains the impurities.

The slag is discarded and the matte is recovered and moved to a cylindrical vessel called a converter. A variety of chemicals are added to the converter, and these react with the copper to form blister copper, which is usually 98 percent to 99.5 percent pure. The blister copper is then recovered and subjected to a process called fire refining.

In fire refining, air is blown through the copper to oxidize impurities into slag, then wood is added to help reduce the oxidized copper through chemical reactions, leaving refined copper behind to be processed into copper anode.

Finally, to completely deoxidize the copper, either phosphorus is added to it to form phosphorus pentoxide, or the copper is cast into copper anodes and placed in an electrolytic copper cell. Once charged, the pure copper collects on the cathode and is removed as a 99.99 percent pure copper product.

How does refined copper reach the market?

Concentrate producers sell a concentrate powder containing 24 to 40 percent copper to copper smelters and refiners. Selling terms are unique to each smelting company or copper refinery, but in general, the smelter pays the miner approximately 96 percent of the value of the contained copper content in the concentrate, minus treatment charges (TCs) and refining charges (RCs).

TCs are charged per metric ton of concentrate treated, while RCs are charged per pound of metal refined. These charges fluctuate with the market, but are often fixed on an annual basis. TCs and RCs tend to rise when there is a high availability of copper ore.

Miners indicate copper concentrations, although they may be spot checked by a third party when enroute to the refiner. Additionally, penalties may be assessed against copper concentrate according to the level of deleterious elements contained, such as lead or tungsten.

Most smelting companies have strict limitations on permissible concentrations of impurities, and if concentrate producers do not meet these needs, they will be subject to financial penalties. Miners may also receive credits for “valuable” minerals, such as precious metals gold and silver. TCs and RCs are levied separately on these metals.

Smelters generally operate by charging tolls, but they may also sell refined copper metal on behalf of miners. All of the risk (and reward) of fluctuating copper prices, then, falls on miners’ shoulders.

How is refined copper sold?

Refined copper is sold mostly in the form of 99.99 percent purity copper cathode either by smelting companies or mining companies with their own refining plants. The buyers are normally end users such as copper mills, brass mills or foundries who purchase copper cathode as melting stock for the manufacture of copper wire rods, copper ingots or copper alloys.

The price of refined copper is set by the global exchanges, such the London Metal Exchange (LME), the CME Group’s COMEX or the Shanghai Futures Exchange (SHFE), and can be brought to market through these exchanges.

Copper cathode sold on the global exchanges must be registered Grade A type with a copper content of 99.99 percent. Unregistered high-grade copper cathode, standard grade and off-grade can be sold into the physical market through trading companies and financial institutions, but will not garner the producer’s premium prices of SHFE or LME registered copper cathode. This premium allows the copper cathode producer to recoup the costs such as insurance and freight associated with transporting its goods to the buyer.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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For additional information and details please see the full Legal Disclosures at https://www.cnn.com/2023/10/25/world/cnn-heroes-legal-disclosures-2024

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Twin bomb threats hit Indian airliners on opposite sides of the globe on Tuesday, forcing an emergency landing in the Arctic and fighter jets to scramble in Asia – the latest in a series of similar hoax scares for the country’s airlines.

Indian airlines have faced “a number of threats in recent days,” all of which have been found to be hoaxes, flag carrier Air India said in a statement Tuesday, as authorities in New Delhi and around the world investigate the string of false bomb warnings.

On Tuesday, an Air India flight from New Delhi to Chicago made an emergency landing in Iqaluit, Canada’s northernmost city. All 211 passengers and crew were relocated to the airport, Canadian police said.

Air India flight 127 was the “subject of a security threat posted online” and diverted “as a precautionary measure,” the airline said.

In a separate incident Tuesday, Singapore scrambled two Air Force F-15 fighter jets to escort an Air India Express passenger plane away from populated areas before landing at the city state’s Changi Airport, the Singaporean defense minister said on social platform X.

Flight AXB684 was enroute to Singapore from the southern Indian city of Madurai when the airline received an email that there was a bomb onboard, minister Ng Eng Hen said.

The threat prompted Singapore to activate its ground-based air defense systems and explosive ordnance disposal, and the plane was handed to airport police upon arrival, Ng said, adding that investigations are ongoing.

Multiple flights by Indian carriers have been delayed or diverted due to false bomb threats since Monday. They include domestic flights on low-cost airlines as well as international flights. The threats have appeared to come from emails or social media posts.

Low-cost carrier SpiceJet also said it received a bomb threat to a flight to Mumbai from the northern city of Darbhanga on Tuesday.

“The aircraft landed safely at Mumbai Airport and was directed to an isolation bay as a precautionary measure,” SpiceJet said in a statement, adding that after security checks the flight was cleared for further operations.

Though it remains unclear whether the threats are connected, or what the motive may be, Air India said they could not be dismissed.

“As a responsible airline operator all threats are taken seriously,” the airline said, adding it was working with authorities to ensure the perpetrators are “held accountable for the disruption and inconvenience caused to passengers.”

The Air India emergency landing in Canada comes as tensions rise between the two countries after Canada expelled six Indian diplomats, including the high commissioner, on Monday.

Canada has accused agents of the Indian government of being linked to homicides, harassment and other “acts of violence” against Sikh separatists in the country. India called the accusations “preposterous” and in turn expelled six Canadian diplomats.

While there is no indication that the bomb hoaxes are linked to the diplomatic spat, threats to Air India flights in Canada have revived painful memories of the 1985 bombing of Air India flight 182 by Sikh extremists, the worst terrorist attack in Canada’s history. The flight from Montreal to New Delhi exploded off the coast of Ireland, killing all 329 people on board, including more than 250 Canadians.

This post appeared first on cnn.com

Chinese and Russian defense officials vowed to strengthen their cooperation during meetings in Beijing this week – in the latest sign of deepening alignment between the neighbors that’s been closely watched by the US and its allies.

The two countries have “common views, a common assessment of the situation, and a common understanding of what we need to do together,” defense chief Andrey Belousov told Zhang Youxia, vice chairman of China’s Central Military Commission, according to Russian state media Tass.

Their task is to “strengthen and develop” their strategic partnership, the Russian defense chief added.

The visit has been cited by Russian state media as Belousov’s first to China since his appointment in May and comes days ahead of an expected visit by Chinese leader Xi Jinping to Russia.

Russia and China have been bolstering their security coordination in the face of shared frictions with the West. That’s included ramping up joint military drills in recent months – part of what experts say is an effort to signal to Washington that, while the two are not allies, neither stands alone.

During Tuesday’s meeting, Zhang repeated rhetoric voiced by Xi and Russian President Vladimir Putin, calling for the two militaries to “deepen and expand military-to-military relations, safeguard their respective national sovereignty, security and development interests, and jointly safeguard international and regional peace and stability,” according to a readout from China’s Defense Ministry.

Belousov also held talks a day earlier with Chinese Defense Minister Dong Jun, who ranks below Zhang in China’s military hierarchy.

The Russian defense chief’s trip comes ahead of an expected visit by Chinese leader Xi Jinping to Kazan, Russia next week for a summit of BRICS, an economic grouping Moscow and Beijing see as their answer to the US-backed Group of Seven (G7).

China’s Ministry of Foreign Affairs has not confirmed Xi’s travel plans, but the Kremlin last month quoted Chinese Foreign Minister Wang Yi as confirming the leader’s attendance. The trip would be Xi’s second to Russia since Putin’s February 2022 invasion of Ukraine and the fifth face-to-face with Putin in the same period.

Regular high-level diplomacy and increased security coordination between China and Russia have come under close scrutiny from the US and its allies, who have accused Beijing of enabling Russia’s war through the provision of dual-use goods like machine tools and microelectronics.

Joint patrols

Beijing has defended what it calls its “normal trade” with Russia and claims neutrality in the conflict. The two countries reached record levels of trade last year as China emerged as a key economic lifeline for Russia, which is strapped by war-related international sanctions.

In recent weeks, Chinese and Russian coast guards conducted what Beijing described as their first joint patrol in the Arctic Ocean, while their navies separately practiced anti-submarine warfare in the northwestern Pacific Ocean, Russian state media said.

The patrol followed a raft of joint exercises over the summer, including near Alaska – where US and Canadian forces intercepted Russian and Chinese bombers together for the first time – and in the South China Sea, a vital waterway claimed almost entirely by Beijing in which geopolitical tensions are rapidly rising.

Belousov’s arrival in Beijing Monday coincided with China’s military flying a record number of fighter jets and other warplanes around Taiwan during large-scale military drills.

China said the drills were intended as a “stern warning” to what it described as pro-independence forces in Taiwan. The drills came days after the island’s new president, Lai Ching-te, gave a speech vowing to protect Taiwan’s sovereignty in the face of challenges from Beijing, which claims the self-ruling democracy as its own.

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In one of Gaza’s last standing hospitals, Tamara Al-Maarouf’s eyes well up with tears as she stands helplessly by her baby boy’s hospital bed. A tumor, now removed, has been compressing the 4-month-old’s tiny heart and he desperately needs treatment abroad.

Meanwhile, 84-year-old Oded Lifschitz, who was kidnapped from his home in Kibbutz Nir Oz on October 7 last year by Hamas militants, is still being held hostage in the enclave. His family is still desperately trying to bring him home.

The stories of two lives, those of a Palestinian infant and an elderly Israeli man, tell the tragic tale of the countless innocent lives trapped in a war they did not choose. Their fates are now tied up in politics and negotiations that have all but failed.

The baby, Jihad, can barely breathe or feed. His mother, Tamara, struggles to find ways to comfort him as he cries and wriggles around, with tubes sticking out of his mouth and nose.

Like thousands of other patients in Gaza, he is in urgent need of foreign medical treatment, but these evacuations have all but ceased since May, when Israel took control of the Rafah border crossing.

Israeli authorities have only allowed a fraction of the estimated 12,000 Palestinians awaiting transfer – many of whom are children – to leave Gaza for treatment.

More than a year of devastating Israeli strikes and the accompanying siege of the enclave have decimated the health sector, leaving medical workers with very little with which to save lives. Hospitals are not only overwhelmed with those injured in the conflict, but they’re now dealing with preventable diseases that are spreading at an alarming rate.

In August, an 11-month-old boy became the first person in Gaza in 25 years to be diagnosed with polio after Israel’s military campaign destroyed water and sanitation systems, leading to a resurgence of the deadly disease.

In September, the World Health Organization administered the first of two doses of the polio vaccine to more than half a million children aged below 10 in Gaza, with the second round of the emergency vaccination drive now under way, according to the UN children’s agency, UNICEF. The UN said it cancelled vaccinations at one school being used as a displacement shelter after it was damaged by an Israeli airstrike.

And there are many like Jihad who are suffering from serious conditions, chronic illnesses and cancer who cannot be appropriately treated in Gaza.

Her parents were longtime advocates for peace. In recent years, the elderly couple were part of a volunteer group of Israelis who would drive Gazans from the border to hospitals in East Jerusalem and the West Bank for treatment. Her father, Oded Lifschitz, kept his driving license so he could continue these missions, she said.

On the morning of October 7 last year, Oded and Yocheved were kidnapped from their home in Kibbutz Nir Oz, the site of one of the worst massacres of the Hamas attack on that day.

Yocheved, now 86, was abducted while still in her nightgown, thrown onto the back of a motorbike and taken to Gaza. At the end of October, she was released by Hamas on humanitarian grounds.

The last time Yocheved saw her husband of more than 60 years was last October 7. He was lying on the ground injured, after he was shot in the hand by the militants who stormed their home.

It is that kindness and generosity, as well as his ability to speak Arabic, that the family hopes will have helped a frail, elderly man with medical conditions survive in captivity.

They have now been waiting for his return for over a year. In May, Oded turned 84 in Hamas captivity.

Lifschitz wears a dog tag around her neck with a photo of her father and “84” engraved on it, along with the message, “Waiting for you at home.”

“Hamas took elderly, elderly people; they did not need them, and they could have returned them without a deal,” Lifschitz said. “There is no deal needed to return an 84-year-old man. There is no deal needed to return a 1-year-old baby. The fact that Hamas is using them to reach a deal is horrific.”

But Lifshitz, like many Israelis, still believes the only way out of this nightmare is a deal between Israel and Hamas that would stop the war and secure the release of the hostages.

She fears they are losing what feels like a race against time to bring them home alive.

“We are so exhausted and so heartbroken again and again,” Sharone said. “We are not giving up. We do not have the luxury of giving up.”

Hopes for a ceasefire deal and hostage release deal have been shattered repeatedly by failing negotiations. Both Israel and Hamas have blamed each other for derailing the efforts, leaving mediators from the United States, Qatar and Egypt scrambling to save talks that have stalled for months.

Hanging in the balance are the lives of more than 100 Israeli hostages and Gaza’s population of 2.2 million, all trapped in a besieged enclave that has become a “hell on Earth,” according to aid agencies which have been pleading for a ceasefire to save lives.

Those who survive Israel’s bombardment, which has killed more than 42,000 people, according to Palestinian authorities, face what Gaza residents like al-Maarouf describe as a slow death under siege, with conditions growing more catastrophic by the day.

Lifschitz said she thinks the mediators could do more to get a deal done. She wants Egypt and Qatar to put more pressure on Hamas but, for her, it is US President Joe Biden who could make this deal happen.

“I believe it is President Biden at this very moment that must do what it takes to bring them back home… I believe he is our best hope,” she said.

Lifschitz refuses to compare her own government’s position to that of a militant group like Hamas, but said: “Anybody who is interested in history sees people that are caught in the tide of time and political and military fanatical regimes that are putting their own agenda above human lives… Both nations are incredibly unlucky in the leaders that are guiding them at the moment.

For Israelis like Lifschitz, the race to save the lives of their loved ones took a more urgent turn in early September after the Israeli military retrieved the bodies of six hostages executed by Hamas.

The Israel Defense Forces (IDF) said they had been “brutally” murdered “a short while” before Israeli troops were able to reach them. Hamas, meanwhile, issued a chilling threat that more hostages would return in coffins if Israeli forces tried to rescue them.

These were young people who had every chance of survival, and they survived for almost a year,” said an emotional Lifschitz. “It is a failure; we have failed them.”

The families of hostages fear for the safety of their loved ones, not only in relation to their captors, but also Israeli military operations, not least the relentless bombardment that has flattened much of Gaza.

Last month, the IDF confirmed that three hostages whose bodies were recovered in December were “most likely” killed in an Israeli strike. The military had previously admitted mistakenly shooting and killing three other hostages last year and said it was investigating the circumstances of the deaths of six hostages whose bodies were recovered in June.

While prospects of an agreement appear bleak, Lifschitz said she would not stop fighting for the release of her father and the other hostages.

Asked what she would tell her father if he could hear her, Lifschitz said, choking back tears: “Forgive us. Forgive us. We have tried so hard. And know that we hear your voice in our heads… You know, we tried the way he tried all his life. He tried for many years to avert this disaster.

“I hear him now saying, ‘work for peace, work for the possibility of humans in this region to live together,’” she added.

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