Author: Steven Sahiounie

Al Mayadeen’s correspondent says Deif’s brother was martyred in the Israeli bombing, while some of the family members are still under the rubble. Al Mayadeen’s correspondent in Gaza reported on Wednesday the targeting of the house of the family of Mohammad Deif, Commander-in-Chief of al-Qassam Brigades in Khan Yunis in the southern Gaza Strip. Our correspondent indicated that Deif’s brother was martyred in the Israeli bombing, adding that some of the family members are still under the rubble. This comes as Israeli occupation warplanes continue to carry out continuous airstrikes in various areas of the Gaza Strip, including striking a residential…

The number of Palestinians killed during Israeli aggression against the Gaza Strip and the West Bank has risen to 1078, while the number of wounded has reached more than 5,314. The Ministry of Health said that 1055 people were killed in the Gaza Strip, and 5184 others were injured in the ongoing raids throughout the Strip, for the fifth day in a row. In the West Bank, the number of slain Palestinians rose to 23, after the two youths, Abd al-Rahman Faraj and Ali al-Abbasi, were killed by Israeli occupation bullets in the Ain al-Luza neighborhood in the town of Silwan in…

‘The global economy is limping along, not sprinting,’ says Fund The International Monetary Fund (IMF) on Tuesday revised down the UAE’s growth forecast for this year but upgraded for the next year. According to the World Economic Outlook released by the Fund, the UAE economy will expand by 3.4 per cent in 2023, down by 0.2 per cent from its previous projection in June, while next year’s forecast has been raised by 0.1 per cent to 4.0 per cent. The UAE will be the fastest-growing economy in 2028, growing at 4.5 per cent, outpacing Saudi Arabia (3.1 per cent), Oman…

Disappointing sales are behind Beijing-based Bitmain’s decision to furlough employees, local media reports Bitmain, the world’s biggest producer of hardware designed for mining cryptocurrency, has stopped paying salaries for September and beyond, Chinese tech media outlet Leiphone reported on Tuesday, citing many company employees familiar with the matter. The Beijing-based corporation, which manufactures application-specific integrated circuit (ASIC) tuned for the job of mining crypto, has reportedly cut some staff, reduced all “bonuses and incentives” and still has not paid remuneration due since last month. “For the month of September, the company has yet to achieve a net positive cash flow, especially in…

Witnesses said the strike hit the no-man’s land between the Egyptian and Palestinian gates, damaging the hall on the Palestinian side Gaza’s Rafah border crossing with Egypt, its only one that bypasses Israel, was hit by an Israeli air strike Tuesday for the second time in 24 hours, an AFP photographer reported. Witnesses said the strike hit the no-man’s land between the Egyptian and Palestinian gates, damaging the hall on the Palestinian side. Contracted by AFP, the Israel military said it could “neither confirm or deny” any strike on the crossing “at this point”. Egyptian group Sinai for Human Rights…

“It’s a humanitarian tragedy and it’s an economic shock we don’t need,” Banga told Reuters World Bank President Ajay Banga said on Tuesday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central banks to achieve soft landings in many economies if it spreads. “It’s a humanitarian tragedy and it’s an economic shock we don’t need,” Banga told Reuters on the sidelines of the World Bank-International Monetary Fund annual meetings in Morocco. Central banks were “beginning to feel a little more confident that there was an opportunity for a soft landing, and this…

MARRAKECH, Morocco: The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro area and said overall global growth remained low and uneven despite what it called the “remarkable strength” of the US economy.The IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0 percent in its latest World Economic Outlook (WEO), but cut its 2024 forecast by 0.1 percentage point to 2.9 percent from its July forecast. World output grew 3.5 percent in 2022. IMF chief economist Pierre-Olivier Gourinchas told reporters the global economy continued to recover from the COVID-19 pandemic,…

HONG KONG: Chinese funds are seeking new capital sources in the Middle East and other markets, managers say, in a shift that could reshape investment flows as diplomatic tensions and other risks drive many US investors out of the country. Seven China equity funds, including hedge funds and mutual funds, running more than $500 billion in combined assets, told Reuters they visited the Middle East this year to raise money, three of them for the first time. Mideast investors are also keen to allocate more resources to China as they can benefit from lower valuations and the effects of government stimulus to…

Gaza: West Bank: Source: Aljazeera

RIYADH: Saudi finance companies’ total assets soared by 9 percent, reaching SR62.36 billion ($16.62 billion) in the first half of 2023, compared to the same period last year, the latest data issued by the Saudi Central Bank, also known as SAMA, showed. In its semi-annual performance report on the finance sector and real estate refinance, SAMA noted that the credit portfolio of such firms experienced a 11 percent year-on-year increase, reaching SR80.71 billion by the end of the first half. The publication also revealed that the majority of loans issued during this period were directed toward the retail sector, accounting for 76 percent of total loans. Micro, small, and medium-sized enterprises received 21…