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Syrian rebel advances tear at Assad’s control as Iran races to send support
By Maya Gebeily, Suleiman Al-Khalidi and Parisa Hafezi
BEIRUT/AMMAN/DUBAI (Reuters) -Syrian rebel forces advanced on the central city of Homs and Kurdish fighters seized effective control of the eastern desert on Friday, jolting President Bashar al-Assad’s grip on power and triggering local revolts against his rule in the south.
If Islamist insurgents captured Homs in their lightning new offensive, it would cut off the capital Damascus from the coast, a longtime redoubt of Assad’s minority Alawite sect and where his Russian allies have a naval base and air base.
In a parallel setback for Assad, a U.S.-backed alliance led by Syrian Kurdish fighters took Deir el-Zor, the government’s main foothold in the vast desert in the east of the country, three Syrian sources told Reuters on Friday.
It was the third major city, after Aleppo and Hama in the northwest and centre, to fall out of Assad’s control in a week.
Piling on the pressure, two Syrian army sources said the alliance known as the Syrian Democratic Forces (SDF) had swept through the nearby Albu Kamal border crossing with Iraq.
In southern Deraa province, Syrian local fighters and former rebels overran one of the main army bases, known as Liwa 52, near Herak town as fighting spread to the southern border with Jordan, two rebel sources told Reuters on Friday.
They also seized parts of the Nassib border crossing with Jordan near the customs section where dozens of trailers and passenger cars were stranded, sources added.
After years locked behind frozen front lines, rebel forces have burst out of their northwestern Idlib bastion to achieve the swiftest battlefield advance by either side since a street uprising against Assad mushroomed into civil war 13 years ago.
Assad regained control of most of Syria after key allies – Russia, Iran and Lebanon’s Hezbollah group – came to his rescue. But all have recently been weakened and diverted by other crises, giving Sunni Muslim militants a window to fight back.
A senior Iranian official meanwhile said Tehran, which has been focused on tensions with arch-foe Israel since the Gaza war began, would send missiles, drones and more advisers to Syria.
“It is likely that Tehran will need to send military equipment, missiles and drones to Syria … Tehran has taken all necessary steps to increase the number of its military advisers in Syria and deploy forces,” the senior Iranian official said on condition of anonymity.
“Now, Tehran is providing intelligence and satellite support to Syria.”
The head of the Syrian faction leading the sweeping assault told CNN that his group – a former Al-Qaeda affiliate now known as Hayat Tahrir al-Sham (HTS) – aimed to “build Syria” and bring Syrian refugees back home from Lebanon and Europe.
It was Abu Mohammed Al-Golani’s first interview since his group began seizing territory from Assad’s forces on Nov. 27. Rebels have captured two major cities so far and are now thrusting toward the key crossroads city of Homs.
HTS broke from Al-Qaeda in 2016, says it poses no threat to the West and has spent years trying to moderate its image, presenting itself as a viable alternative to the Assad family’s 54-year authoritarian rule.
SURPRISE OFFENSIVE
The rebels’ sweep has taken the region by surprise and emboldened other opponents of Assad. Syrian rebel commander Hassan Abdul Ghany urged top military officers to defect, in a video statement aired on Friday.
At least three people were killed in clashes between Druze militias and security forces in the southern Syrian city of Sweida on Friday, two witnesses and a local activist said.
They said anti-government fighters also seized the main police station and the biggest civilian prison hours after hundreds of people protested in a square demanding Assad’s downfall.
The Israeli military said it was reinforcing aerial and ground forces in the Israeli-occupied Golan Heights in southwest Syria and was prepared for all scenarios.
Iran-backed Hezbollah, meanwhile, sent a small number of “supervising forces” from Lebanon to Syria overnight to help prevent anti-government fighters from seizing Homs, two senior Lebanese security sources told Reuters.
But Israel has seriously weakened Hezbollah in fighting in Lebanon this year, assassinating its top officials and devastating its military infrastructure.
HTS rebels said they had also taken over the towns of Talbisa and Rastan, bringing them within miles (km) of Homs.
The Syrian military said there was no truth to reports it had withdrawn from Homs, saying in a statement it was deployed along “steady and solid defence lines” there.
A resident of Homs earlier said the offices of Syria’s main security branches there had emptied, with members exiting the city.
The Syrian Observatory for Human Rights, a UK-based monitoring group, said thousands of people had begun fleeing from Homs on Thursday night towards the Mediterranean coastal regions of Latakia and Tartus, strongholds of the government.
A coastal resident said thousands of people had begun arriving there from Homs, fearing the rebels’ rapid advance.
Wasim Marouh, a Homs resident who decided not to leave, said most of its main commercial streets were largely deserted while pro-government militia groups patrolled the area.
ISLAMIC STATE
In another alarming development for Assad, the head of the U.S.-backed Syrian Kurdish force said the Islamic State group, which imposed a reign of terror over swathes of Iraq and Syria before its defeat by a U.S.-led coalition in 2017, had now taken control of some areas in eastern Syria.
“Due to the recent developments, there is increased movement by Islamic State mercenaries in the Syrian desert, in the south and west of Deir Al-Zor and the countryside of al-Raqqa,” Mazloum Abdi told reporters, referring to areas in Syria’s east.
Rebels led by HTS have sought to capitalise on their swift takeover of Aleppo in the north and Hama in west-central Syria by pressing onwards to Homs, another 40 km (24 miles) south.
A rebel operations room urged Homs residents in an online post to rise up, saying: “Your time has come.”
Russian bombing overnight destroyed the Rastan bridge along the M5 highway, the main route to Homs, to prevent rebels using it to advance, a Syrian army officer told Reuters.
Aron Lund, a fellow at think-tank Century Foundation, said the government was “fighting for their lives at this point”.
It was possible the government could hold Homs “but given the speed at which things have moved so far, I wouldn’t count on it”.
Stock Markets
Coupa Named a Leader in IDC MarketScape for Worldwide SaaS and Cloud-Enabled Direct Spend
With Coupa’s total spend management platform, companies can optimize supplier sourcing, manage direct and indirect spend and future proof operations in one unified platform
FOSTER CITY, Calif., Dec. 18, 2024 /PRNewswire/ — Coupa, the margin multiplier company, has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Direct Spend 2024 Vendor Assessment (Doc #US52734424, December 2024).
In the first report of its kind from IDC covering the direct spend market landscape, the IDC MarketScape for Direct Spend, cited the benefits of Coupa’s unified platform as a key strength. The report states, “Coupa offers a holistic platform for optimized direct spend, leveraging a robust platform that fosters supply chain collaboration, mitigates risk, facilitates ease of supply chain design and planning, and is seamlessly integrated with the full S2P suite to drive ease of contracting, purchasing, and invoice management.”
“The need for an integrated spend management approach has never been more critical, as businesses face external factors impacting revenue, like volatile interest rates and supply chain disruptions, all while managing outdated sourcing processes and fragmented systems,” said Salvatore Lombardo, Chief Product and Technology Officer. “Coupa’s AI-driven total spend management platform provides businesses with a holistic view that helps them grow margins, streamline processes, and mitigate risks, through data-driven decision-making. Our community-generated AI gets smarter by the minute, informed by our $7T in global spend data and network of buyers and suppliers. Using Coupa AI, our customers are creating more resilient and adaptive supply chains, identifying new strategic suppliers, and discovering opportunities to manage their business spend more effectively and efficiently.”
“We are building a network that will sit at the center of global trade. In the future, supply and demand will be matched autonomously, in real time, allowing buyers and suppliers to connect seamlessly and creating a self-sustaining loop that saves everyone money while constantly learning and adapting,” added Lombardo.
Coupa provides the most comprehensive, connected, and agile solution covering the full direct spend process in one unified platform. Coupa’s unmatched direct spend capabilities include:
- Supplier Sourcing Optimization: Find the best suppliers, negotiate better contracts, and drive savings, all while optimizing sourcing strategies to meet business goals.
- Supply Chain Design & Planning: Monitor your physical supply chain in near-real time and run what-if scenarios to enhance decision-making across cost, service, and sustainability.
- Supply Chain Collaboration: Enhance communication with suppliers in real-time and improve order fulfillment and ensure supply continuity with better visibility and collaboration.
- Third Party Risk Management: Assess and manage supplier risks by quickly identifying threats, while strengthening compliance to build supplier resiliency.
- Contract Lifecycle Management: Streamline the contract management process by parsing documents and integrating contracts with sourcing and procurement workflows.
- Invoicing, Payments & Treasury: Automate invoice and PO matching to reduce errors and accelerate payments and ensure tax compliance and liquidity.
For a complimentary excerpt copy of the report, click here.
Additional Information
- Read the report blog
- Learn more about Coupa Supply Chain Collaboration
About Coupa
Coupa makes margins multiply through its community-generated AI and industry leading total spend management platform for businesses large and small. Coupa AI is informed by trillions of dollars of direct and indirect spend data across a global network of 10M+ buyers and suppliers. We empower you with the ability to predict, prescribe, and automate smarter, more profitable business decisions to improve operating margins. Coupa is the margin multiplier company™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
“IDC, MarketScape: Worldwide SaaS and Cloud-Enabled Direct Spend 2024 Vendor Assessment, Doc #US52734424, December 2024”
Investing.com — US stocks climbed Wednesday, as investors awaited the Federal Reserve rate decision.
At 12:53 ET (17:53 GMT), the climbed 0.4%, or 160 points, the rose 0.2% and the added 0.2%.
Fed set to cut rates, but eyes on projections
The Fed is widely expected to cut rates when it announced its monetary policy decision at 2:00 p.m. ET.
Market focus will be squarely on the Fed’s economic projections including rate cuts for the next year, and comments from Chair Jerome Powell.
Investors expect the Fed to indicate a slower pace of rate cuts in 2025, as persistent inflation and a strong labor market—two key challenges for the Fed—continue to pose concerns.
On Tuesday, data showed that retail sales rose by 0.7% in November, above the 0.5% forecast.
Stronger-than-expected retail sales data signals that the economy remains strong and consumer spending remains robust, despite challenges like inflation and high interest rates.
This strength was driven by a solid labor market and steady household finances.
Tech cuts intraday losses as Nvidia rebounds
NVIDIA Corporation (NASDAQ:) rebounded as investors bought the recent dip in the chipmaker, helping the broader tech sector recovery.The move higher in the chipmaker comes a day after it fell deeper into correction territory following its 10% plunge from a recent peak.
Apple Inc (NASDAQ:) rose 0.1%, while Alphabet (NASDAQ:) added 0.1%.
Jabil Circuit Inc (NYSE:) was also in rally mode, surging 9% after reporting stronger-than-expected fiscal first quarter results and guidance.
Elsewhere on the earnings front, Birkenstock Holding ltd (NYSE:) reported Q4 results that topped Wall Street estimates, sending its shares more than 6% higher.
General Mills Inc (NYSE:) stumbled after cutting its annual outlook on earnings as ramp up in promotional activity dented margins.
Stock Markets
American Water Charitable Foundation Donated Over $5 Million in 2024 to Support and Strengthen Communities
CAMDEN, N.J.–(BUSINESS WIRE)–The American Water (NYSE:) Charitable Foundation, a 501(c)(3) organization established by American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., announced today it awarded a combined total of $5.4 million to organizations across the U.S., supporting communities served by American Water in 2024.
Through the American Water Charitable Foundation’s Keep Communities Flowing Grant Program, $4.7 million was awarded to over 400 eligible non-profit organizations across the country. Additionally, over 4,000 employees participated in the Foundation’s Employee Matching Gift and Rewards Programs with over $700,000 donated to more than 2,200 charities. 2024 giving will be finalized in mid-January.
Following are a few examples of how the American Water Charitable Foundation is making a difference nationwide:
- As extreme weather events increase in frequency and intensity, we continue to count on forward-thinking Disaster Responder members like the American Water Charitable Foundation to help power our preparedness and relief efforts, said Anne McKeough, Chief Development Officer, American Red Cross. We are so thankful for the American Water Charitable Foundation’s donation, which underscores their commitment to compassion in advance of disasters big and small.
- We really appreciate the partnership with the American Water Charitable Foundation and California American Water for their commitment to Monterey Peninsula College students, said Beccie Michael, MPC Foundation Executive Director. Funds provided by the Foundation will create valuable opportunities for our students as they work towards earning STEM degrees and ultimately becoming STEM professionals. This grant is a prime example of working together to ensure a well-educated, well-prepared future workforce to meet our community’s needs.
- We are deeply grateful for the American Water Charitable Foundation’s support through the 2024 Water and Environment grant, said Kelly Knutson, Director for the Coalition for the Delaware River Watershed. Clarity around tap water processes is essential, as it fosters public trust in the safety and quality of our drinking water, benefiting every individual and safeguarding the health of our watershed community. Thank you to the American Water Charitable Foundation for their commitment to our collective mission of a healthy and protected watershed.”
- We are thankful for the American Water Charitable Foundation’s continued support of our mission to end veteran suicide, said Lindsay (NYSE:) Grayson, Chief Revenue Officer, K9s For Warriors. K9s For Warriors has paired more than 1,000 veterans with a service dog. With the American Water Charitable Foundation’s help, we can continue to provide these life-changing animals to veterans in need, helping them regain their independence and improve their quality of life.
Since 2012, the American Water Charitable Foundation has invested nearly $21 million in funding through grants and matching gifts that are important to American Water’s employees and positively impact the communities where they live and work.
Grants provided by the American Water Charitable Foundation support impactful initiatives and programs throughout American Water’s national footprint. Our charitable focus to Keep Communities Flowing empowers our community partners to make meaningful long-term differences in the lives of those they serve,” said Carrie Williams, President, American Water Charitable Foundation. Additionally, the Foundation is proud to support American Water employees in their own charitable endeavors through matching gifts and rewards.
Learn more about the American Water Charitable Foundation here.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing ® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook (NASDAQ:), X and Instagram.
About American Water Charitable Foundation
The American Water Charitable Foundation is a 501(c)(3) nonprofit organization that provides a formal way to demonstrate the company’s ongoing commitment to be a good neighbor, citizen, and contributor to the communities where American Water and its employees live, work and operate. For more information, visit amwater.com/awcf.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241218463998/en/
Media Contact
Alicia Barbieri
Director, Communications & External Affairs
American Water
(856) 676-8103
alicia.barbieri@amwater.com
Source: American Water
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