Eternity C was attacked by the Houthis in the Red Sea in July. EPA
Eternity C was attacked by the Houthis in the Red Sea in July. EPA
Eternity C was attacked by the Houthis in the Red Sea in July. EPA
Eternity C was attacked by the Houthis in the Red Sea in July. EPA

Houthis release crew of sunken cargo ship Eternity C


Amr Mostafa
  • English
  • Arabic

Yemen's Houthis say they have released the crew of the cargo ship Eternity C, five months after their capture in the Red Sea.

The nine Filipino crew members, whose ship was sunk by the Houthis off the coast of Yemen, were released after mediation by Oman, Houthi-run media reported on Wednesday. The Houthis' Saba news agency said a plane was transporting the crew from Sanaa to Muscat.

The men were survivors of the sinking of the Liberia-flagged Eternity C, one of two commercial vessels sunk within days of each other in the Red Sea in July. The Houthis released a video of the attack on the ship, saying they had "rescued" an unspecified number of the crew and taken them to a safe location.

On Tuesday, the Foreign Ministry of the Philippines said it had received word from Oman that the "nine Filipino seafarers of the ill-fated M/V Eternity C, held hostage by the Houthis in the Red Sea, will be released".

The statement, which credited the efforts of the Omani government, said the men would be transferred from rebel-held Sanaa to Oman before returning home. A foreign affairs spokesman declined to provide a timeline for the release or say if it was bound by any conditions.

The July sinkings of the Eternity C and Magic Seas broke a months-long lull in Houthi attacks on Red Sea shipping, which began after the start of the Gaza war in October 2023. The attacks, which the Houthis say are against Israel-linked shipping in solidarity with the Palestinians, have prompted many firms to avoid a route through which about 12 per cent of global trade normally passes.

Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

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Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Updated: December 03, 2025, 4:03 PM