Houthis Escalate Attacks on Saudi Arabia, Three Killed at Riyadh Airport

Three Saudi Arabian citizens were killed and others were injured yesterday in two attacks on the main airport in the capital city of Riyadh, according to local officials. The kingdom continues to face intense fire from the Houthis.

The deaths bring the number of people killed from strikes on King Khalid International Airport this week to four. Two others were killed in an assault on Abha airport in the country’s southwest. Several airlines have canceled flights to Riyadh amid the escalating attacks.

A Saudi-led coalition that’s fighting the Houthis in Yemen said it destroyed three of the group’s missile launchers and will respond firmly to further attacks. The Houthis, an Iran-backed group that controls Yemen’s capital of Sanaa and many other areas, have been striking Saudi Arabia with missiles and drones almost-daily since early September.

Saudi Crown Prince Mohammed bin Salman has sought help from allies to counter the Houthis. US President Donald Trump, who agreed a truce with the militants last year after a short bombing campaign, is reluctant to get involved with offensive operations, but is providing intelligence to the Saudis.

What You Need to Know Today

The Nobel Peace Prize was today awarded to judge and human rights lawyer Navi Pillay. The Nobel Peace Prize said international law faces “tremendous pressure” and its institutions are “under attack.”

Pillay, 85, has “held states and national leaders accountable and brought hope to victims of violence and conflict,” the committee said in a statement, calling her “one of the great defenders of international legal principles.” Pillay is currently serving as a judge at the International Court of Justice, in The Hague, in the case in which Myanmar stands accused of genocide.

EU Says China Accord Could Cut Hybrid Car Exports by HalfThe European Union and China said they’ve reached an agreement on hybrid cars that could see a drastic cut in exports to the bloc.

Bond investors are demanding the most compensation to own French bonds over Italian ones since the founding of the euro. The spread between the two nation’s benchmark 10-year bond yields hit a record at 30 basis points today. Until last year, Italy was considered the riskier of the two, with higher borrowing costs than France.

Now, investors are punishing France for not cutting its budget deficit as much as hoped and for showing no signs of reducing its 117.6% debt-to-GDP ratio. Money managers are also asking for a higher yield to compensate for the political uncertainty ahead of a presidential election next April that could pit the far-right against the far-left.

Turkish portfolio-firm managers will be held accountable for recovering losses and repaying investors trapped in liquidated funds, according to a draft law AK Party lawmakers submitted to parliament today. It’s understood investors will receive interim payments of as much as 1 million liras ($20,266) each. Those whose net investment is below that threshold will receive their full sum.

The bill is among the first concrete steps the Turkish government has taken to resolve a funds crisis that erupted last month. Two main investment funds defaulted on their redemptions in mid-September, sparking market turmoil.

Greenland’s push for independence remains firmly on the agenda after its new security deal with the US, according to the island’s lawmakers. The semi-autonomous Danish territory is working to map out the legal steps required to become an independent state, with a commission due to report early next year, said Nivi Rosing, chair of Greenland’s foreign and security policy committee.

That work is continuing after the agreement gave the US expanded military access to the island. Greenland signed the deal with the US and Denmark last month following a bitter dispute over the Arctic island. It allows Washington to establish new bases on the territory and gives it a say over foreign military activity and sensitive investments. While leaving the island under Danish sovereignty, the pact explicitly recognizes Greenlanders’ right to self-determination and provides for the agreement to remain in force if the territory becomes independent.

Ethiopia says it has been left with no choice but to defend itself after an alleged incursion by troops from neighboring Eritrea. In a letter to the United Nations’ Security Council, Ethiopian Foreign Affairs Minister Gedion Timothewos said Eritrea has deployed troops and mechanized units 60 kilometers (37 miles) into his nation’s territory.

Eritrean troops have a long history of fighting within Ethiopia’s borders, given the two nation’s shared history. Most recently, they fought alongside Ethiopian federal troops against the Tigray People’s Liberation Front in a two-year civil war that ended in 2022 and were accused of grave human-rights abuses. This time around, Ethiopia is accusing its neighbors of supporting armed groups including the TPLF, which rules the northern Tigray region.

The Global Oil Tanker Shortage Is Getting Worse by the DayFor a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.

What You’ll Need to Know Tomorrow

Tesla Drops ‘Self-Driving’ Branding to Appease Europe RegulatorsHow Not to Tame an Out-of-Control WorldGreenland Independence Still Goal After US Deal, Lawmakers SayEverton Considers Sale in Test of Football’s Inflated ValuationsHungary’s Ex-PM Orban Denies Role in Ukraine Money Convoy RaidAfrican Nations Explore Fresh Ways to Ease Pain at the Fuel PumpJapan Can’t Let Go of Its Favorite Penguin

For Your Commute

F1 Is Searching for Its First Female Success StoryThe sport’s training academy makes racing more affordable for young women, but it’s still trying to graduate a driver to Formula One.

More from Bloomberg

Enjoying Evening Briefing? Check out these newsletters:

Money for insights, ideas and tools for doing more with your moneyMarkets Daily for what’s moving in stocks, bonds, FX and commoditiesBalance of Power for the latest political news and analysis from around the globeMoney Distilled for John Stepek’s daily newsletter on what market moves mean for your moneyThe Brink for exclusive coverage of corporate distress, bankruptcies and turnaround stories

Explore all newsletters at Bloomberg.com.