Author: Steven Sahiounie

Hezbollah has targeted an Israeli tank with a guided missile, two security sources in Lebanon say. Meanwhile, the Israeli army said a helicopter struck an observation post belonging to Hezbollah after rocket fire from Lebanese territory towards a military vehicle in the area of Avivim. “No injuries were reported,” the Israeli army said. A Lebanese security official said six rockets were fired from southern Lebanon into northern Israel Tuesday evening. The United Nations peacekeeping force in south Lebanon also confirmed the rocket fire and urged “everyone to exercise restraint at this critical time”. Source: Aljazeera

A Palestinian, aged, 34, succumbed tonight to critical wounds he sustained from the shrapnel of an Israeli Iron Dome rocket fired to intercept rockets coming from Gaza, which fell at the entrance of the town of Baqa ash-Sharqiyya, north of Tulkarem. Mayor of Baqa ash-Sharqiyya, Waleen Nathmi, told WAFA that Ali Mohammed Elyyan died of the serious injuries he sustained from the shrapnel of an Iron Dome rocket while he was standing in front of his house in the said town. Six other Palestinians were injured by the rocket shrapnel, including two seriously, The rocket caused damage to a number…

Rockets are currently being fired from Gaza towards the Israeli city of Ashkelon. Earlier, the group warned civilians to leave before 5pm local (14:00 GMT). Source: Aljazeera

Save the Children’s Europe’s Director and EU representative Willy Bergogne says his organisation was “alarmed” about the decision by several EU member states to suspend development aid to Palestine. “We are extremely concerned that other EU member states and the European Commission are also considering similar actions to suspend their support to Palestinian families,” he told Al Jazeera. On Monday, Germany and Austria said they were suspending their development aid to the Palestinians. “Suspending aid is cutting a critical lifeline to an incredibly vulnerable population. Children and their families enduring this conflict have never needed support more,” Bergogne said. He…

The latest pictures from the besieged enclave show thick smoke rising from the port of Gaza as Israel renews its air attacks this evening. Images from the port also showed fishing boats and vessels on fire. Source: Aljazeera

RIYADH: Affirming Saudi Arabia’s continuous growth, the International Monetary Fund revealed that the Kingdom’s gross domestic product is expected to rise by 4 percent in 2024. In its latest report, the IMF reduced its forecast for the growth of the Saudi economy in 2023 to 0.8 percent compared to previous estimates. These fiscal projections are established primarily on its understanding of government policies outlined in the 2022 budget. Revenues are based on the World Economic Outlook baseline oil price assumptions and the IMF staff’s understanding of current oil policy under the Organization of the Petroleum Exporting Countries and its allies, known as the OPEC+, agreement. …

RIYADH: Saudi Arabia’s electricity and gas supply sector grew by 21.5 percent in August compared to the same month last year, according to the General Authority of Statistics.     The electricity and gas sector has consistently shown high annual expansion since the start of 2023. Factors contributing to this growth are the Kingdom’s investments in energy infrastructure, including constructing power generation plants, gas facilities and electricity distribution networks to meet growing demand. Saudi Arabia has also implemented energy efficiency measures to reduce wastage and encourage responsible energy consumption, increasing efficiency in the electricity and gas sectors. The latest data showed that…

RIYADH: A new investment company tasked with developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia has been announced by the Kingdom’s Public Investment Fund. Tasaru Mobility Investments will drive investments and partnerships with local and global private sector companies, according to a statement from PIF. It aims to support sector growth and deliver long-term returns by localizing manufacturing expertise and technologies to accelerate the development of Saudi Arabia’s electric vehicle and autonomous mobility ecosystem. By boosting local capabilities, the company will support the Kingdom’s wider efforts to become a global leader in this industry. …

Factory output fell in August to the lowest level this year, official data has revealed German industrial production dropped for the fourth month straight in August as factory activity faces a prolonged downturn, the Federal Statistical Office revealed on Monday. Production slid 0.2% from July, driven by the slowdown in construction and soaring energy prices, marking the lowest index for output recorded in Germany this year. German factories, as well as the country’s economy as a whole, continue to struggle with a “toxic” combination of poor external demand, including from China, shortages of skilled workers, high interest rates, and the protracted fallout…

Bondholders agreed last year to freeze payments until 2024, but Kiev wants to “tap markets early,” the news agency says Kiev is negotiating with foreign lenders regarding the restructuring of its debt and is looking for ways to borrow more money, Reuters has reported. It follows a decision by the US Congress to omit additional aid for Ukraine from its latest spending bill. Ukraine owes some $20 billion to bondholders, who agreed in August 2022 to freeze payments for two years. However, the government’s commissioner for public debt, Yury Butsa, has been informally contacting creditors to discuss a new postponement,…