Stock Markets
Hospitals under fire as Israeli forces deepen operations in northern Gaza
By Nidal al-Mughrabi
CAIRO (Reuters) -Israeli military forces besieged hospitals and shelters for displaced people in the northern Gaza Strip on Monday as they stepped up their operations, preventing critical aid from reaching civilians, residents and medics said.
Troops rounded up men and ordered women to leave the Jabalia historic refugee camp, they said. An Israeli airstrike on a house in Jabalia killed five people and wounded several others, medics said.
The U.N. Palestinian refugee agency UNRWA said Israeli authorities were preventing humanitarian missions from reaching areas in the north of the Palestinian enclave with critical supplies, including medicine and food.
“People attempting to flee are getting killed, their bodies left on the street,” UNRWA head Philippe Lazzarini said on X.
Medics at the Indonesian Hospital told Reuters that Israeli troops stormed a school and detained the men before setting it ablaze. The fire reached hospital generators and caused a power outage, they added.
Health officials said they had refused orders by the Israeli army, which started a new incursion into the territory’s north over two weeks ago, to evacuate the three hospitals in the area or leave the patients unattended.
Later on Monday, Hussam Abu Safiya, director of Kamal Adwan Hospital said at least two critically wounded patients at the facility’s intensive care unit died because of the lack of medical supplies.
“The hospital’s blood units have run out completely… We are implementing a priority treatment method for patients. This is the reality,” said Abu Safiya in a video message to media outlets.
Troops remained outside the hospital but did not enter, they said. Medics at a second hospital, Kamal Adwan, reported heavy Israeli fire near the hospital at night.
“The army is burning the schools next to the hospital, and no one can enter or leave the hospital,” said one nurse at the Indonesian Hospital, who asked not to be named.
Palestinian health officials said at least 18 people had been killed in Jabalia and eight elsewhere in Gaza in Israeli strikes.
The Israeli military said in a statement its troops had dismantled infrastructure and tunnel shafts and killed alleged fighters in the Jabalia area.
Troops had helped thousands of civilians to evacuate safely through organised routes, it said, contradicting reports from the U.N. aid agency. Israel was in contact with the international community and Gaza’s healthcare system to ensure hospital emergency services were operating, it said.
Last week, the United States told Israel it must take steps in the next month to improve the humanitarian situation in Gaza or face potential restrictions on U.S. military aid.
Israel has intensified its campaigns both in Gaza and Lebanon after the killing of Hamas leader Yahya Sinwar last week had raised hopes of an opening for ceasefire talks to end more than a year of conflict.
It has vowed to eradicate Hamas, the group who formerly controlled Gaza and whose attack on Israel last year triggered the war, but in doing so has laid waste to much of the territory and killed tens of thousands of people. More than 1.9 million people have been left destitute and desperate for food.
“We are facing death by bombs, by thirst and hunger,” said Raed, a resident of Jabalia camp. “Jabalia is being wiped out and there is no witness to the crime, the world is blinding its eyes.”
FORCED TO LIVE IN TOILETS
Hadeel Obeid, a supervisor nurse at the Indonesian hospital, said they were running out of medical supplies, including sterile gauze and medications. The water supply has been cut off and there was no food for the fourth consecutive day, she told Reuters.
The United Nations said it had been unable to reach the three hospitals in northern Gaza.
The U.N. Human Rights Office accused Israeli forces of unlawful interference with humanitarian assistance and issuing orders that were causing forced displacement. It said their conduct “may be causing the destruction of the Palestinian population in Gaza’s northernmost governate through death and displacement”.
UNRWA’S Lazzarini said injured people were lying without care in hospitals that had been hit.
“UNRWA remaining shelters are so overcrowded, some displaced people are now forced to live in the toilets,” he said.
Israel says it is getting large quantities of humanitarian supplies into Gaza with land deliveries and airdrops. It also says it has facilitated the evacuation of patients from the Kamal Adwan Hospital.
Palestinians say no aid entered northern Gaza areas where the operation is active.
Reuters reported earlier this month that food supplies have fallen sharply since Israeli authorities introduced a new customs rule on some humanitarian aid and are separately scaling down deliveries organized by businesses.
Residents and medics said Israeli forces had tightened their siege on Jabalia by positioning tanks in nearby Beit Hanoun and Beit Lahiya towns and ordering residents to leave.
Israeli officials said evacuation orders were aimed at separating Hamas fighters from civilians and denied there was any systematic plan to clear out civilians. It said its forces operating in northern Gaza killed scores of people it accused of being Hamas gunmen.
Hamas accused Israel of carrying out acts of “genocide and ethnic cleansing” to force people to leave northern Gaza. Israel also faces charges of violations of the 1948 Genocide Convention at the International Court of Justice.
The Hamas armed wing said fighters attacked forces there with anti-tank rockets and mortar fire, and detonated bombs against troops inside tanks and stationed in houses.
Elsewhere in the enclave, Israeli strikes killed at least five people in Rafah in the southern Gaza Strip and four in two separate strikes in Gaza City, medics said.
The slain Sinwar was one of the alleged masterminds of the Oct. 7, 2023, cross-border attack on Israeli communities that killed around 1,200 people, with about 253 more taken back to Gaza as hostages, according to Israeli tallies.
Israel’s subsequent bombardment of Gaza has killed more than 42,500 Palestinians, with another 10,000 uncounted dead thought to lie under the rubble, Gaza health authorities say.
(Reporting and writing by Nidal al-Mughrabi; Editing by Angus MacSwan)
On Monday, Keefe, Bruyette & Woods made an adjustment to the price target for MetroCity Bankshares Inc. (NASDAQ: NASDAQ:), raising it to $34 from the previous $32 while maintaining a Market Perform rating on the stock.
The firm’s decision follows MetroCity Bankshares’ consistent demonstration of leading profitability and robust capital levels across various market cycles. The bank’s forward-looking performance indicators are expected to remain strong, with a return on assets (ROA) forecast at 1.8%, return on tangible common equity (ROTCE) at 15%, and an anticipated growth from 11% in the third quarter over the next two years.
MetroCity Bankshares is currently trading at a premium compared to its peers, with a tangible book value (TBV) multiple of 1.9 times versus the 1.5 times median for small to midsize (SMID) banks. This premium reflects the bank’s favorable position and the market’s positive reception of its financial health and growth prospects.
The price target increase also takes into account a slight outperformance in the third quarter of 2024, where MetroCity Bankshares exceeded expectations by $0.01 per share. Despite this beat, the firm’s estimates for the bank’s financial performance remain largely unchanged.
The analyst from Keefe, Bruyette & Woods highlighted the bank’s strong outlook, stating, “MCBS has generated leading profitability while maintaining strong levels of capital through different parts of the cycle. We see this continuing as we look through 2026 with ROA at 1.8%, ROTCE at 15%, and building from 11% in Q3 over the next 2 years.” This view underpins the rationale for the revised price target, signaling confidence in MetroCity Bankshares’ trajectory for the coming years.
In other recent news, MetroCity Bankshares, Inc. has added a new member to its Board of Directors, Mr. John Paek. He is set to bring a vast array of experience to the board, with a professional history that includes roles at Deloitte Tax LLP and Baker McKenzie LLP. Despite his impressive qualifications, it’s been noted that Mr. Paek does not meet the independence criteria under NASDAQ’s listing rules, due to his familial connection to the company’s leadership.
Mr. Paek will join the Asset Liability Committee, the Credit Risk Management Committee, and the Directors’ Loan Committee of the Bank. As for his remuneration, he will receive the same compensation as his fellow board members, as outlined in the company’s Definitive Proxy Statement filed earlier this year.
InvestingPro Insights
Recent data from InvestingPro reinforces Keefe, Bruyette & Woods’ positive outlook on MetroCity Bankshares Inc. (NASDAQ: MCBS). The company’s P/E ratio of 12.94 and PEG ratio of 0.76 suggest that the stock may be undervalued relative to its earnings growth potential, aligning with the bank’s premium trading position noted in the article.
InvestingPro Tips highlight MCBS’s strong financial performance, including its high return over the last year and decade, which corroborates the analyst’s expectations of continued profitability. The company’s dividend growth of 27.78% and a current dividend yield of 2.9% further underscore its financial health and shareholder value creation.
The bank’s revenue growth of 11.66% over the last twelve months and an impressive 33.58% quarterly growth support the article’s projection of continued growth. Moreover, the operating income margin of 60.93% reflects the leading profitability mentioned by the analyst.
For investors seeking a deeper understanding of MCBS’s potential, InvestingPro offers 7 additional tips, providing a comprehensive analysis of the company’s financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Recognition is a testament to Avangrid (NYSE:)’s commitment to sustainability and dedication to advancing the clean energy transition
ORANGE, Conn.–(BUSINESS WIRE)–Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola (OTC:) Group, was recently named to the Newsweek list of America’s Greenest Companies 2025, which recognizes the top 500 U.S. companies for advancements in managing their sustainability footprint.
Companies were evaluated and scored on over 25 parameters across the following four categories: greenhouse gas emissions, water usage, waste generation, and sustainability data disclosure and commitments.
At Avangrid, we pride ourselves on being a leading sustainable company and I am proud to see that reflected in this latest report from Newsweek, said Pedro Azagra, Avangrid CEO. By committing to industry-leading sustainability goals, we are advancing safe and affordable clean energy strategies that help responsibly advance society and strengthen the communities we serve.
Avangrid’s overall success is dependent creating a clean energy future for all. To achieve this, the Company is investing in the reliability and resiliency of its network infrastructure, increasing its generation capacity of renewable energy, and innovating across its operations to create positive outcomes for customers, communities, and the environment.
Our focus on sustainability is core to every decision we make, said Laney Brown, Vice President of Sustainability at Avangrid. As one of the greenest companies in the country, we are dedicated to helping solve critical issues like climate change and protecting biodiversity.
Avangrid has an ambitious carbon neutrality implementation strategy that is aligned with Iberdrola’s SBTi (Science Based Target initiative) goal. Avangrid’s goal is to achieve carbon neutrality for Scope 1 and 2 emissions by 2030.
Newsweek partnered with Plant-A Insights and GIST Impact to highlight U.S. companies committed to reducing their environmental impact. The ranking is determined through a comprehensive analysis of data from both public and private companies operating in the U.S. To ensure the highest standards, only companies that meet the European Union’s stringent sustainability criteria”considered the most advanced globally”were eligible.
This recognition from Newsweek comes on the heels of several other top awards for Avangrid in 2024 related to climate change and sustainability, including being named one of America’s Climate Leaders by USA Today, Climate Change Project of the Year by the Environmental Business Council of New England, and being recognized as the top utility on the 2024 JUST 100 list published by JUST Capital and CNBC.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $45 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies “ a ranking of America’s best corporate citizens “ in 2024 for the fourth consecutive year. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241021546555/en/
Media:
Keaton Thomas
Keaton.thomas@avangrid.com
503-956-9621
Source: AVANGRID, Inc.
DETROIT (Reuters) – Lucid (NASDAQ:) CEO Peter Rawlinson said on Monday that a stock sale announced last week will provide the electric luxury sedan maker with a “cash runway well into 2026.”
Rawlinson said in an interview on the sidelines of a Reuters Next event that the stock sale, which raised about $1.67 billion, “serves to support the future of the company long term” as it prepares to begin building its Gravity SUV in the coming months.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex2 years ago
Unbiased review of Pocket Option broker
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Forex2 years ago
The dollar is down again against major world currencies
