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Saturday, Dec 14, 2024

Indonesia's North Sumatra Devastated by Flash Floods: A Race to Save Survivors

Indonesian Rescuers Race to Find Survivors After Flash Floods and Landslides in North Sumatra
Turning to Indonesia, rescuers are in a race against time to find survivors in North Sumatra following devastating flash floods and landslides, where at least 29 lives were lost. The relentless rains caused havoc, particularly on a hilly interprovince road, leaving vehicles trapped under mud and disrupting local elections.

Meanwhile, in the UK, Transport Minister Louise Haigh has announced her resignation over a decade-old fraud conviction, linked to a false claim about a stolen cellphone. Despite her departure from government, Haigh remains committed to supporting Prime Minister Keir Starmer's administration from outside her official role.

In financial news, Moody's has upgraded the ratings for 11 Saudi banks, reflecting a healthier operating environment and robust government support. This positive move signals the strengthening credit conditions in Saudi Arabia, with expected growth driven by economic diversification.

On the global stage, oil prices have seen a slight uptick amid geopolitical tensions, particularly with a delay in the OPEC+ meeting and renewed conflict concerns between Israel and Hezbollah. The market's anticipation of output policy decisions has contributed to this modest price rise.

In terms of international cooperation, Saudi Arabia and Japan have fortified their humanitarian collaboration through a partnership between KSrelief and JICA. The meeting in Riyadh underscored their mutual commitment to addressing global aid challenges and fostering effective joint efforts.

Lastly, France is pressing Lebanon to expedite its presidential election amid ongoing regional tensions, following an uneasy ceasefire between Israel and Hezbollah. With a year-long political stalemate since Michel Aoun's presidency ended, France continues its diplomatic efforts to facilitate a resolution and stabilize the region.
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