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Straits Times
07-07-2025
- Business
- Straits Times
Del Monte Pacific expects capital deficit from write-offs of US unit's bankruptcy
Sign up now: Get ST's newsletters delivered to your inbox Del Monte Pacific, which has a market capitalisation of about $100 million, said its net investment value in its US unit was US$579 million, as at Jan 31. SINGAPORE - Singapore-listed canned food company Del Monte Pacific expects to record a capital deficit on its balance sheet from write-offs in relation to its US subsidiary Del Monte Foods (DMF), which last week filed for bankruptcy. Del Monte Pacific's equity investment in DMF and certain receivables due from the US subsidiary are expected to be subject to impairment, the group said on July 7 in a response to queries from Singapore Exchange about its ability to continue as a going concern. As at Jan 31, Del Monte Pacific's net investment value in DMF was US$579 million. In a statement last week, it also said it had US$169 million in net receivables from DMF and its subsidiaries. The company has a current market capitalisation of about $100 million. However, the company said that the developments are not expected to disrupt its operations beyond the US, even as the extent of the impairments and other material impacts are currently being finalised and will be disclosed by Jul 31, 2025. According to Del Monte Pacific's annual report for FY2024, DMF's sales accounted for more than 70 per cent of the group's sales. Del Monte Pacific clarified that it has not guaranteed any loans for DMF or its subsidiaries and that it has no contingent liability with respect to their financial obligations. The company will be stripping the US subsidiary from its consolidated accounts as it no longer controls the US unit after debtors replace majority of the latter's board. Top stories Swipe. Select. Stay informed. World Trump says US nears trade deals as tariff effective date delayed Singapore MPs should not ask questions to 'clock numbers'; focus should be improving S'poreans' lives: Seah Kian Peng Singapore Sequencing and standards: Indranee on role of Leader of the House Singapore NUS College draws 10,000 applications for 400 places, showing strong liberal arts interest Life Rock band My Chemical Romance to perform in Singapore in April 2026 Singapore Life After... blazing biomedical research trail in S'pore: Renowned scientist breaks new ground at 59 Singapore More students in Singapore juggle studying and working to support their families Life Star Awards 2025: 11 looks that shocked and charmed on the red carpet
Straits Times
07-07-2025
- Business
- Straits Times
Oil tumbles as Opec+ output hike raises glut concerns
Sign up now: Get ST's newsletters delivered to your inbox Opec+ agreed to a bigger-than-expected production increase in August just as US tariffs fan fears about the demand outlook. Singapore – Oil prices extended declines after Opec+ agreed to a bigger-than-expected production increase in August, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. Brent crude futures fell 1.2 per cent to US$67.50 a barrel by 0010 GMT, while US West Texas Intermediate crude tumbled 2 per cent to US$65.68. The Organization of the Petroleum Exporting Countries and their allies, a group known as Opec+, decided on July 5 to increase supply by 548,000 barrels a day, putting the oil cartel on track to unwind its most recent output cuts a year earlier than planned. Alliance officials cited summer demand as one reason for their optimism that the extra barrels could be absorbed by the market, with the move answering US President Donald Trump's calls for lower fuel costs. The oil market has been volatile in recent weeks following the conflict between Israel and Iran, with a fragile truce now in place and focus shifting to Opec+ supply and US trade policy. Mr Trump's country-by-country tariffs will take effect Aug 1, Commerce Secretary Howard Lutnick said, signalling some breathing room for trading partners ahead of a previous deadline of July 9. Opec+ previously announced hikes of 411,000 barrels a day for May, June and July – already three times faster than scheduled – and traders had expected the same amount for August. The increase amplifies a dramatic strategy pivot, from years of output restraint to reopening the taps to reclaim market share. The group is 'clearly taking advantage of a period of tightness in global energy markets,' said Robert Rennie, the head of commodity and carbon research at Westpac Banking Corp. However, there are 'downside risks' to oil prices as seasonal demand wanes after summer, he added. Top stories Swipe. Select. Stay informed. World Trump says US nears trade deals as tariff effective date delayed Singapore MPs should not ask questions to 'clock numbers'; focus should be improving S'poreans' lives: Seah Kian Peng Singapore Sequencing and standards: Indranee on role of Leader of the House Singapore NUS College draws 10,000 applications for 400 places, showing strong liberal arts interest Singapore Life After... blazing biomedical research trail in S'pore: Renowned scientist breaks new ground at 59 Singapore More students in Singapore juggle studying and working to support their families Business Beyond the 9 to 5: Why side hustles are becoming a way of life for more full-time workers Life Star Awards 2025: 11 looks that shocked and charmed on the red carpet The boost was based on 'a steady global economic outlook and current healthy market fundamentals,' the group said in a statement on July 5. Saudi Arabia followed with a price increase to its main crude grade for Asia next month, signalling confidence the market can withstand the extra Opec+ supplies. The alliance will consider adding another 548,000 barrels a day in September at its next meeting on Aug 3, according to delegates, which would complete the revival of 2.2 million barrels a day of cuts made in 2023. BLOOMBERG
Straits Times
07-07-2025
- Business
- Straits Times
ICE raids derail Los Angeles economy as workers go into hiding
Sign up now: Get ST's newsletters delivered to your inbox A main is detained as clashes break out after US Customs and Border Protection officers attempted to raid a store in Bell, Los Angeles, on June 20. Los Angeles was already struggling to revive its fragile economy after the most destructive wildfires in its history erupted six months ago. Now, immigration raids are driving workers crucial to the rebuilding into the shadows. Framers and landscapers are abandoning job sites. Renovations of retail shops have stopped midway. Real estate developers say they are struggling to find crews to keep projects on track in a sector that relies heavily on immigrant labor. 'We don't have enough people to staff the work and we're scrambling to figure it out,' said chief executive Arturo Sneider of Primestor, a manager of US$1.2 billion (S$1.5 billion) in shopping centers and 3,000 apartments under development in California and three other states. 'It's triggering delays.' President Donald Trump's deportation campaign has roiled workplaces and communities from Florida to Illinois and New York. But few places are feeling the shock as acutely as LA, a longtime sanctuary city and home to one of the nation's largest migrant labor forces. Between June 6 and June 22, immigration agents arrested more than 1,600 people across the LA area – at car washes, construction sites and day-laborer hubs such as Home Depot parking lots. The scope of the crackdown has rattled neighborhoods. Businesses have shuttered, police overtime costs have surged and Fourth of July events in Latino areas were canceled amid fears of apprehensions. Top stories Swipe. Select. Stay informed. World Trump says US nears trade deals as tariff effective date delayed Singapore MPs should not ask questions to 'clock numbers'; focus should be improving S'poreans' lives: Seah Kian Peng Singapore Sequencing and standards: Indranee on role of Leader of the House Singapore NUS College draws 10,000 applications for 400 places, showing strong liberal arts interest Singapore Life After... blazing biomedical research trail in S'pore: Renowned scientist breaks new ground at 59 Singapore More students in Singapore juggle studying and working to support their families Business Beyond the 9 to 5: Why side hustles are becoming a way of life for more full-time workers Life Star Awards 2025: 11 looks that shocked and charmed on the red carpet The wave of detentions sparked a week of protests in downtown LA and outlying suburbs, some turning violent. Mr Trump deployed the National Guard and US Marines to protect federal property, dismissing the objections of Democratic Governor Gavin Newsom. While the demonstrations have largely eased, the Trump administration escalated tensions last week by suing LA over its refusal to cooperate with federal agents. Homeland Security officials argued in the case that the city's sanctuary policies – which limit local cooperation with federal immigration authorities – obstruct enforcement and create instability. Mayor Karen Bass vowed to fight the lawsuit despite the cost to the city's already stretched budget. The raids are doing 'severe economic damage' and undercutting efforts to rebuild after the fires, she said. 'We know that Los Angeles is the test case, and we will stand strong,' Ms Bass said. 'We do so because the people snatched off city streets and chased through parking lots are our coworkers, our neighbors, our family members, and they are Angelenos.' A Department of Homeland Security (DHS) official disputed the link between economic health and immigration enforcement. 'If there was any correlation between rampant illegal immigration and a good economy, Biden would have had a booming economy,' DHS Assistant Secretary Tricia McLaughlin said in an emailed statement. Before the raids, the second-largest US city was already facing economic strains unlike any in decades. Imports through the Port of Los Angeles, a key gateway for global commerce, dropped 19 per cent in April from a month earlier as Mr Trump's tariffs disrupted trade flows. Hollywood studios are losing ground to overseas markets, prompting California lawmakers to double film tax incentives to US$750 million. Housing permits, which had already plunged 57 per cent in the city of LA during the first quarter, had just begun to rebound before migrant arrests surged in June, according to real estate consulting firm Hilgard Analytics. 'Papers or not, fear spreads quickly,' Hilgard founding principal Joshua Baum said. 'When workers do not feel safe showing up to job sites, it slows down not only the pace of construction but also the willingness to propose new projects in the first place.' The scale of the reconstruction effort is immense. The wildfires, which erupted Jan 7, torched more than 16,000 structures across the region, from Pacific Palisades to Altadena. Rebuilding those areas could require an additional 70,000 workers by mid-2026, according to a report by the Urban Land Institute, University of California at Los Angeles and the University of Southern California. Today's construction workforce in LA County is about 145,000. Some contractors are taking extraordinary measures to shield workers, said Ms Clare De Briere, founder of LA-based C+C Ventures and a lead author of a post-fire rebuilding report. An example is moving portable toilets from the curbs to backyards so workers won't be visible from the street, she said. 'We're already labor challenged and you're adding unpredictability through the raids, which is only going to increase costs and slow things down,' Ms De Briere said. 'Nothing good related to these projects is going to come from ICE raids.' Reconstruction is barely getting going. In the Eaton Fire zone east of LA, only 66 building permits have been issued out of more than 900 applications. About 150 scorched lots are up for sale – a number that keeps growing as more owners discover they can't afford to rebuild. 'Already people trying to rebuild have huge gaps in financing, where every dollar counts,' Mr Tim Kawahara, executive director of the Ziman Center for Real Estate at UCLA, said in an interview. 'Increased labor costs will just add to that and potentially make it more challenging to rebuild.' LA County had about 3.4 million immigrants – a third of its population – including almost 700,000 undocumented residents in 2019, according to a report by the Los Angeles Economic Development Corporation, which is preparing a study of the deportation campaign's economic impact. An estimated 14.5 per cent of the construction workforce was undocumented, second only to 17.1 per cent in hospitality, the report said. The full impact of the immigration enforcement is hard to track because many workers toil in the underground economy. One early indicator: Ridership on LA public transit fell as much as 15 per cent in the two weeks after immigration raids began June 6, the first drop after 30 months of gains, according to LA Metro spokesman Patrick Chandler. Climate of fear New social media videos, mostly shot on shaky cellphones, are circulating daily and spreading fear. They have shown workers handcuffed at the Bubble Bath car wash. A team in military uniforms was recorded blowing open a home in pursuit of a suspect. A blue-vested Walmart employee was taken into custody after trying to protect a colleague. A landscape worker and father of three US Marines was punched repeatedly during a take down. 'The community feels hunted,' said Ms Angelica Salas, executive director of the Coalition for Humane Immigrant Rights of Los Angeles. Her group joined a lawsuit last week accusing federal agencies of targeting people 'on the basis of their skin color and occupation' in mass roundups. People are scared because the apprehensions are conducted in some cases by agents wearing masks, with little explanation or identification. 'You have a concern about being targeted, because of the way you look,' said Ms Sneider, who said his projects in Arizona and Nevada have been disrupted as well. 'So even people that have full citizenship or status are concerned to just go out.' Agents detained about 30 people at a Home Depot parking lot in Hollywood on June 19, including a US citizen who recorded an agent smashing a truck window. A week later, day laborers waited warily for work outside the store, many now keeping their documentation close-at-hand. 'I've got my Real ID here and my passport at home,' said Mr Melvin Maldonado, a native of Guatemala who offered handyman services for US$30 an hour. 'We're good people, trying to feed our families.' BLOOMBERG
Straits Times
07-07-2025
- Automotive
- Straits Times
Xiaomi founder's bold EV bet paying off where Apple's failed
Sign up now: Get ST's newsletters delivered to your inbox Xiaomi succeeding where Apple failed has burnished Mr Lei Jun's reputation, made his company one of the most valuable in China. Hong Kong – Lei Jun, founder and chairman of Xiaomi, the only tech company to have successfully diversified into carmaking, couldn't resist. Speaking at a triumphant launch event in Beijing in June for Xiaomi's second electric vehicle, a long-anticipated SUV, Mr Lei pointedly mentioned Apple, which spent a decade and US$10 billion (S$12.7 billion) trying to make a car before giving up in 2024. 'Since Apple stopped developing its car, we've given special care to Apple users,' he said, noting that owners of the US giant's iPhones would be able to seamlessly sync their devices to Xiaomi's vehicles. The not-so-subtle dig was followed by a flex: Xiaomi then said it had received more than 289,000 orders for its new sport utility vehicle within an hour of its announcement, more than its first EV, a sedan launched in March 2024. Xiaomi succeeding where Apple failed has burnished Mr Lei's reputation, made his company one of the most valuable in China and shaken up both the tech and automobile industries. The collapse of Apple's moonshot car programme has only underscored the effectiveness of Xiaomi's grounded approach, which took inspiration from proven designs from Tesla and Porsche Automobil Holding while staying true to the affordable ethos that's made it a cult brand for Gen Z consumers. Crucially, it also launched into the most fertile EV ecosystem in the world – China. With state subsidies, existing charging infrastructure and a ready made supply chain, Xiaomi had a structural tailwind Apple lacked. Top stories Swipe. Select. Stay informed. World Trump says US nears trade deals as tariff effective date delayed Singapore MPs should not ask questions to 'clock numbers'; focus should be improving S'poreans' lives: Seah Kian Peng Singapore Sequencing and standards: Indranee on role of Leader of the House Singapore NUS College draws 10,000 applications for 400 places, showing strong liberal arts interest Singapore Life After... blazing biomedical research trail in S'pore: Renowned scientist breaks new ground at 59 Business Beyond the 9 to 5: Why side hustles are becoming a way of life for more full-time workers Singapore Smart sensors used in study to detect cognitive decline in seniors who live alone Life Star Awards 2025: 11 looks that shocked and charmed on the red carpet Xiaomi declined to comment for this story. Mr Lei and Xiaomi's 'charisma, brand recognition and ecosystem cannot be underestimated,' Yale Zhang, the managing director of Shanghai-based consultancy Automotive Foresight, said. 'It's a big influence on young consumers who have filled their homes with Xiaomi products. When it comes time to buy an EV, they naturally think of Xiaomi.' Recruitment tactics Xiaomi's public narrative is that Mr Lei and his team learned by visiting multiple Chinese automakers, including Zhejiang Geely Holding Group and Great Wall Motor, and talked to more than 200 industry experts in some 80 meetings. The reality is also that he used Xiaomi's reputation as an innovative consumer behemoth to get close to China's large carmakers and pick off their top talent. Geely and its billionaire founder Li Shufu welcomed Mr Lei to the automaker's research institute in Ningbo in the months leading up to Xiaomi's announcement that it would enter the car business to discuss topics, including potential collaboration. It's Geely lore that Mr Lei added the WeChat contacts of many staff at the institute, including then-director Hu Zhengnan. Mr Hu later joined Shunwei Capital Partners, the investment firm co-founded by Mr Lei. Mr Hu, known for his love of the German luxury marque Porsche, was one of the team members credited as being instrumental to developing Xiaomi's EV business, Mr Lei said at the SU7 launch in 2024. He added that Mr Hu left his previous employer after his contract ended. Other executives who joined Xiaomi came from companies including BAIC Motor, BMW, SAIC-GM-Wuling Automobile – the General Motors joint venture with SAIC Motor and Wuling Motors Holdings – and auto supplier Magna Steyr. Besides assembling top Chinese automaking talent, Mr Lei made a prescient bet on investing in a self-controlled supply chain – insulating Xiaomi's operation from manufacturing vagaries. This came from painful lessons learned in Xiaomi's early smartphone-producing days, when external suppliers would cut off components unpredictably. With the 10 billion yuan (S$1.8 billion) it committed to the first phase of its EV venture, Xiaomi also built its own factory, rather than going down the contract manufacturing route that some Chinese makers, including Nio and Xpeng, did when they started out. 'Among tech companies that now build electric vehicles, those who previously had hardware products seem to be more successful than those who only had software products or information services,' said Paul Gong, UBS Group's head of China autos research. Copycat allegations Despite its early success, there are many who argue Xiaomi's one hit car is copied from elsewhere – and that a sole successful vehicle does not a successful auto producer make. Mr Lei's aggressive approach has also raised hackles in China's car industry. Yu Jingmin, vice president of SAIC's passenger car division, reportedly described Xiaomi's approach as 'shameless' in a critique of the SU7 resembling Porsche. The SU7 has been colloquially dubbed 'Porsche Mi' by netizens. Xiaomi's design team, led by former BMW designer Li Tianyuan, has defended the SU7's aesthetics, emphasizing that the choices were driven by aerodynamic efficiency and performance benchmarks. In late March, there was another setback after a fatal accident involving the SU7. The car had its advanced driver assistance technology turned on before the crash, which afterward led to authorities reining in the promotion and deployment of the technology. The usually vocal Mr Lei kept a low profile on social media for more than a month post the March accident. He returned to more active engagement in May with a missive that said this period of time was the most difficult in his career. Fortunately for Xiaomi, its consumer base is sticky. Known as 'Mi Fans,' the loyal customers have played a pivotal role in the company's rise. Xiaomi cultivated this fandom early on by prioritising user feedback and the grassroots allegiance has helped it build strong brand equity, especially in China. The SU7 has remained a top selling model even after the accident in March. Small scale The EVs are also showing financial promise. Xiaomi posted record revenue for first quarter this year, driven by car and smartphone sales. Its EV division is expected to turn profitable in the second half of 2025, Mr Lei said in an investor meeting in June. But even if the popularity of Xiaomi's EVs can spring beyond the company's devoted base, production is still on a much more boutique scale. China's top car brand, BYD, sold around 4.3 million EVs and hybrids last year, many overseas, while Tesla moved about 1.78 million vehicles globally. Toyota Motor, the world's No. 1 automaker, sold some 10.8 million vehicles and boasts a lineup of approximately 70 different models. Mr Lei doesn't seem to be prioritizing the mass market of below US$20,000 yet, which drives significant volume and is where BYD dominates, Automotive Foresight's Zhang said. Without a lineup in that segment, Xiaomi cars will remain niche purchases for middle to higher-income consumers and Xiaomi may face the same risks as Tesla, which is seeing its sales slump exacerbated by a narrow consumer base and limited models. Nonetheless, Mr Lei seems buoyed by Xiaomi's early wins and is now looking at global expansion. Xiaomi will consider selling cars outside China from 2027, he said last week. Success or otherwise, the European Union, the US and Turkey have all slapped tariffs on Chinese EVs, but Xiaomi wants to set up a R&D centre in Munich and may test sales starting in European markets such as Germany, Spain and France when the time is right, Chinese media 36Kr reported in April. 'Xiaomi is a latecomer to the auto industry,' Mr Lei admitted on Weibo in June. But, he said, in a market driven by technology and innovation and the rising global influence of China's EV culture, 'there are always opportunities for latecomers.' BLOOMBERG
Straits Times
07-07-2025
- Politics
- Straits Times
Trump says ‘good chance' of hostage deal with Hamas ‘during the week'
Sign up now: Get ST's newsletters delivered to your inbox Israel's Prime Minister Benjamin Netanyahu (left) visiting with US President Donald Trump at the White House on April 7. The two are due to meet again on July 7. JERUSALEM - US President Donald Trump said on July 6 there was a 'good chance' of a hostage deal with Hamas 'during the week', ahead of his upcoming meeting with Israeli Prime Minister Benjamin Netanyahu. 'I think there's a good chance we have a deal with Hamas ... during the coming week,' Mr Trump told reporters amid mounting pressure on the Israeli prime minister to agree to a ceasefire and end the war in Gaza after almost two years. Mr Netanyahu said on July 6 that he hoped his talks in Washington could 'help advance' a Gaza ceasefire deal. Mr Trump and Mr Netanyahu are scheduled to meet at the White House on July 7 – the Israeli prime minister's third visit since Mr Trump returned to power in January. Indirect negotiations between Israel and Hamas were underway in Qatar on July 6. 'We've gotten a lot of the hostages out, but pertaining to the remaining hostages, quite a few of them will be coming out,' Mr Trump added. He said the United States was 'working on a lot of things' with Israel, including 'probably a permanent deal with Iran.' Top stories Swipe. Select. Stay informed. World Trump says US nears trade deals as tariff effective date delayed Singapore MPs should not ask questions to 'clock numbers'; focus should be improving S'poreans' lives: Seah Kian Peng Singapore Sequencing and standards: Indranee on role of Leader of the House Singapore NUS College draws 10,000 applications for 400 places, showing strong liberal arts interest Singapore Life After... blazing biomedical research trail in S'pore: Renowned scientist breaks new ground at 59 Business Beyond the 9 to 5: Why side hustles are becoming a way of life for more full-time workers Singapore Smart sensors used in study to detect cognitive decline in seniors who live alone Life Star Awards 2025: 11 looks that shocked and charmed on the red carpet Mr Trump also repeated claims that US strikes 'obliterated' Iran's nuclear facilities during the 12-day Iran-Israel conflict. Speaking before boarding Israel's state jet bound for Washington, Mr Netanyahu said: 'We are working to achieve this deal that we have discussed, under the conditions that we have agreed to.' He had previously said Hamas' response to a draft US-backed ceasefire proposal contained 'unacceptable' demands. Later on July 7, a Palestinian official familiar with the talks told AFP that indirect negotiations between Israel and Hamas towards a ceasefire deal in the Gaza Strip had started in Qatar. 'Negotiations are about implementation mechanisms and hostage exchange, and positions are being exchanged through mediators,' the official said. 'Enough blood' Earlier on July 6, a Palestinian official told AFP that Hamas would also seek the reopening of Gaza's Rafah crossing to evacuate the wounded. Hamas' top negotiator Khalil al-Hayya was leading the delegation in Doha, the official told AFP. Two Palestinian sources close to the discussions told AFP the proposal included a 60-day truce, during which Hamas would release 10 living hostages and several bodies in exchange for Palestinians detained by Israel. However, they said, the group was also demanding certain conditions for Israel's withdrawal, guarantees against a resumption of fighting during negotiations, and the return of the UN-led aid distribution system. On the ground, Gaza's civil defence agency reported 26 people had been killed by Israeli forces on July 6. It said 10 had been killed in a pre-dawn strike on Gaza City's Sheikh Radwan neighbourhood, where AFP images showed Palestinians searching through the debris for survivors with their bare hands. 'The rest of the family is still under the rubble,' Sheikh Radwan resident Osama al-Hanawi told AFP. 'We are losing young people, families and children every day, and this must stop now. Enough blood has been shed.' Media restrictions in Gaza and difficulties in accessing many areas mean AFP is unable to independently verify the tolls and details provided by the civil defence agency. Contacted by AFP, the Israeli military said it could not comment on specific strikes without precise coordinates. Since Hamas' October 2023 attack sparked the massive Israeli offensive in Gaza, mediators have brokered two temporary halts in the fighting during which hostages were freed in exchange for Palestinian prisoners in Israeli custody. Of the 251 hostages taken by Palestinian militants during the 2023 attack, 49 are still being held in Gaza, including 27 the Israeli military says are dead. Recent efforts to broker a new truce have repeatedly failed, with the primary point of contention being Israel's rejection of Hamas' demand for a lasting ceasefire. 'Hunger as a weapon' The war has created dire humanitarian conditions for the more than two million people in the Gaza Strip. Mr Karima al-Ras, from Khan Yunis in southern Gaza, said 'we hope that a truce will be announced' to allow in more aid. 'People are dying for flour,' she said. A US- and Israel-backed group, the Gaza Humanitarian Foundation, took the lead in food distribution in the territory in late May, when Israel partially lifted a more than two-month blockade on aid deliveries. UN agencies and major aid groups have refused to cooperate with the GHF over concerns it was designed to cater to Israeli military objectives. The UN human rights office said last week that more than 500 people had been killed waiting to access food from GHF distribution points. The Gaza health ministry on July 6 put the toll at 751 killed. Brazilian President Luiz Inacio Lula da Silva, a frequent critic of Israel, again accused it of committing 'genocide' in Gaza at a meeting of the 11 BRICS emerging nations in Rio de Janeiro on July 6. 'We cannot remain indifferent to the genocide carried out by Israel in Gaza, the indiscriminate killing of innocent civilians and the use of hunger as the Brazilian president, popularly known as Lula, told leaders from China, India and other nations. Hamas' October 2023 attack resulted in the deaths of 1,219 people, mostly civilians, according to an AFP tally based on Israeli official figures. Israel's retaliatory campaign has killed at least 57,418 people in Gaza, also mostly civilians, according to the Hamas-run territory's health ministry. The United Nations considers the figures reliable. AFP
