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☆ Why Yemen’s Houthi rebels welcome conflict with the US
▼ + stars: | 2024-02-01 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +11 min

Since mid-November the rebels have been attacking commercial ships in the Red Sea and the Strait of Bab al-Mandab. The Red Sea is a vital waterway that connects to the Suez Canal, through which 10% to 15% of world trade passes. In its fight, the Houthi group has distracted from Yemen’s humanitarian crisis, shored up domestic and international support, and made its name known among those who knew little to nothing about the movement, they say. That narrative has taken hold among those who oppose the Gaza war the world over. Yemen’s civil war began in 2014, when Houthi forces stormed the capital Sanaa and toppled the internationally recognized, Saudi-backed government.

Persons: Abdel Malek al, Houthi, ”, Allah, Thomas Juneau, ” Juneau, ’, Ahmed Nagi, Juneau, Israel, “, Biden, Netanyahu, ” Mohamed Ali al, Nagi, ” Nagi, ” Mohammed Ali Al, Yemen's Houthi, ” “ Houthis, Nadwa, Yemenis, ” Dawsari Organizations: CNN, Hamas, Hezbollah, Yemeni, Graduate School of Public and International Affairs, University of Ottawa, Canada’s Department of National Defense, Yemeni Armed Forces, European Union, NATO, United, Crisis, UN, BBC, Political Council, Galaxy Leader, Getty, Middle East Institute Locations: Constantinople, Istanbul, United States, Saudi, Israel, Gaza, Bab, Suez, Iran, China, India, Tehran, Iraq, Jordan, Yemen, Red, Solidarity, Aden, Instagram, US, United Kingdom, Brussels, Saudi Arabia, tatters, Yemen's province, Hodeida, AFP, America, Washington ,

☆ Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. The programme has so far attracted 200 foreign companies, Saudi Investment minister Khaled Al-Falih was quoted as saying. "The new tax exemptions granted on regional headquarters activities will give .... international companies in the kingdom more clarity of vision and stability," Saudi Finance Minister Mohammed Al-Jadaan said, according to SPA. Foreign companies have scrambled to meet the Saudi condition to relocate their regional headquarters after the kingdom said in October the deadline will be enforced. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia.

Persons: Finance Mohammed Bin Abdullah Al, Jadaan, Jan, Prince Mohammed bin Salman, Khaled Al, Falih, Mohammed Al, ” Jadaan, Aziz El, Bill Berkrot Organizations: Finance, Ministers, Central Bank Governors, Rights, United, United Arab Emirates, International, Saudi Investment, Saudi Finance, Games, , Thomson Locations: Saudi, Nusa Dua, Bali, Indonesia, Rights RIYADH, Saudi Arabia, United Arab, United Arab Emirates

Yemen’s Houthi militia claimed an attempted attack on southern Israel on Tuesday, saying it had launched a “large batch” of ballistic and cruise missiles as well as drones toward Israeli targets. The Israeli military did not say who was behind the attacks. Last week, Abdulaziz bin Habtour, prime minister of the Houthi government, said the Houthis might attack Israeli ships in the Red Sea. Even the potential of Houthi attacks on southern Israel means that “Israel must now allocate capabilities that otherwise would have been used elsewhere,” Mr. Sobelman said. The Israeli military, in contrast, maintains high-tech air defense systems and is backed by staunch U.S. government support.

Persons: Yemen’s, Yahya Sarea, Sarea, Israel “, Israel —, ”, Ahmed Nagi, Abdulaziz bin Habtour, Farea, Yemen —, Daniel Sobelman, ” Mr, Sobelman, Nagi Organizations: U.S . Department of Defense, Lebanese, Hezbollah, Crisis, of, Chatham House’s, United Arab, Harvard Kennedy School’s, East Initiative, Iron, U.S Locations: Israel, Iran, Gaza, Palestine, Yemen, Sana, Saudi, Iraq, Red, East, North Africa, United Arab Emirates, Abu Dhabi, Eilat, Iranian, Saudi Arabia

☆ Decaying Tanker in Mideast Is Emptied of Oil, Averting Catastrophic Spill
▼ + stars: | 2023-08-11 | by ( Vivian Nereim | More About Vivian Nereim | ) www.nytimes.com time to read: +1 min

A United Nations operation to transfer more than one million barrels of oil from a decaying tanker into another ship off the coast of Yemen has been completed, officials said on Friday, averting a catastrophic spill that could have devastated marine life and communities across the Red Sea. But with one crisis averted, another looms: The recovery vessel could be stranded until thorny negotiations over who owns the transferred oil are resolved. For years, both of those governments have claimed ownership of the oil on the decaying tanker, called the FSO Safer, hoping to gain desperately needed revenue from its sale. “The most pressing step was to prevent oil spillover from the deteriorating FSO Safer,” said Ahmed Nagi, a senior Yemen analyst at the International Crisis Group, an organization that researches conflicts. “Now, with the salvage operation concluded, we find ourselves returning to the difficult point concerning the oil inside the tanker.”

Persons: ”, Ahmed Nagi Organizations: Nations, FSO, Crisis Group Locations: Yemen

The team is pumping between 4,000 and 5,000 barrels of oil every hour, and has so far transferred more than 120,000 barrels to the replacement vessel carrying the offloaded oil, Gressly said. A potential spill from this vessel would be enough to make it the fifth largest oil spill from a tanker in history, a UN website said. The Red Sea is a vital strategic waterway for global trade. Video Ad Feedback Oil being removed from tanker near Yemen in Red Sea 02:29 - Source: CNNAfter The Safer is emptied, it must then be cleaned to ensure no oil residue is left, Gressly said. The Red Sea fisheries in Yemen could be “almost completely wiped out,” Rehkopf added.

Persons: CNN —, –, Yemen David Gressly, SMIT, Gressly, Bab, ” Gressly, “, ” David Rehkopf, ” Rehkopf, that’s, ”, Ahmed Nagi, ” Nagi, Nagi Organizations: CNN, United, Endeavor, UN, Yemen’s, HSA, FSO, Exxon, US Energy Information Administration, Systems, Stanford University School of Medicine, Stanford University, Group Locations: Yemen, United Nations, Suez, Red, Alaska, Africa, Asia, Persian, Saudi, Stanford University School of Medicine . Yemen, Saudi Arabia, Eritrea, Brussels, Yemeni, Hodeidah

☆ Australia to decide fate of central bank chief in July
▼ + stars: | 2023-06-22 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

[1/2] Governor of the Reserve Bank of Australia (RBA) Philip Lowe attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Treasurer Jim Chalmers told reporters on Thursday he would announce his decision on Reserve Bank of Australia (RBA) Governor Philip Lowe's future in coming weeks, but would not be drawn on whether Lowe would keep his job. The clamour of criticism, particularly in the media, led Chalmers to launch an independent review of the central bank which recommended sweeping changes in its operation and the way policy was formed. "Obviously, the Reserve Bank Governor needs to be well placed to implement the recommendations of the review and to take the Reserve Bank into the future," said Chalmers. Possible replacements being touted are the current deputy governor Michele Bullock, Treasury official Jenny Wilkinson and former Bank of Canada official Carolyn Wilkins, who also led the review into the RBA.

Persons: Philip Lowe, Jim Chalmers, Philip Lowe's, Lowe, I’m, we'd, Chalmers, Michele Bullock, Jenny Wilkinson, Carolyn Wilkins, Wayne Cole, Renju Jose, Leslie Adler Organizations: Reserve Bank of Australia, Ministers, Central Bank Governors, Reserve Bank Governor, Bank, Treasury, Bank of Canada, Thomson Locations: Nusa Dua, Bali, Indonesia

☆ South Korea's finance minister says country is at a 'turning point' in relations with Japan
▼ + stars: | 2023-05-03 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, on Indonesia resort island of Bali, on July 16, 2022. (Photo by MADE NAGI / POOL / AFP) (Photo by MADE NAGI/POOL/AFP via Getty Images)South Korea's finance minister says the nation sees is at a "turning point" in economic relations with Japan. Speaking to CNBC's Chery Kang at the Asian Development Bank's annual meeting in Incheon, South Korea's finance minister and deputy prime minister Choo Kyung-ho praised Tokyo's recent decision to restore South Korea to a list of preferred trade partners. Choo said the recent talks with Suzuki will lead to further economic cooperation between the two U.S. allies. "The recent bilateral summit has opened things up for improvement.

☆ Tiffany: Not Just a Shopping Destination, But a World-Class Museum
▼ + stars: | 2023-04-20 | by ( Stephen Wallis | Photography Nagi Sakai For Wsj. Magazine | ) www.wsj.com time to read: +1 min

When Tiffany & Co. reopens its New York City flagship on the corner of Fifth Avenue and 57th Street this spring, following three years of work, visitors will hardly recognize the street-level sales floor famously featured in Breakfast at Tiffany’s. Where dark-green marble and teak columns once surrounded a bank of art deco elevators, a showstopping painting by Jean-Michel Basquiat now hangs. The canvas was chosen especially for the robin’s-egg-blue background that nearly matches Tiffany’s own trademarked blue. It’s an intentionally placed lure—inviting in those tourists who come to re-create Audrey Hepburn’s dreamy window-shopping scene. In the new-look Tiffany, splashy art abounds: A concave, faceted stainless-steel Anish Kapoor wall sculpture in the third-floor wedding and engagement area seems tailor-made for celebratory ring-shopping selfies.

☆ Houthis try to reassure skeptics they won’t seek full control of Yemen, as Saudis eye exit
▼ + stars: | 2023-04-14 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

“If we were not looking for full control during the war, then we will not look for full control at any other time,” al-Houthi told CNN. It spiraled into a wider war in 2015 when a Saudi-led coalition intervened in an attempt to beat back the Houthis. A Saudi delegation arrived in Sanaa on Sunday for talks with the Houthis aimed at securing a permanent ceasefire. The Houthi leader told CNN he expected Saudi Arabia to ensure the departure of all foreign forces, including the UAE, from the country. “We are in agreement (with the Saudis) that we need all foreign forces to leave Yemen,” he said.

☆ Y Combinator-backed headless commerce startup Vue Storefront just raised $20 million with this 14-slide pitch deck
▼ + stars: | 2023-03-23 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Y Combinator-backed Vue Storefront has developed a frontend system for e-commerce sites. Vue Storefront, a Y Combinator-backed startup that aims to improve customers' experiences with e-commerce sites, just raised $20 million in fresh funds. The Polish company, founded in 2020, has built a plug-and-play frontend system for marketplace sites. This is what customers see and interact with, rather than the behind-the-scenes backend system, and is known as "headless commerce". Vue Storefront is rooted in open-source development, having spun out from a design agency.

☆ A small Japanese town charges visitors to learn its baby-making tips
▼ + stars: | 2023-03-07 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

The birth rate in Japan has been falling for three decades, and hit an all-time low last year. But in one small town, parents are electing to have more kids, The Wall Street Journal reported. For a second child, parents pay a maximum of $210, and aren't charged for any kids they have after that. Additionally, parents in Nagi receive a stipend of $1,000 annually for each child they have enrolled in high school. "We'd like to make policies like this," Kang Mu-seung, a South Korean official visiting Nagi, told The Journal.

☆ Tiny Town Charges Visitors to Learn Its Baby-Making Tips
▼ + stars: | 2023-03-03 | by ( Miho Inada | ) www.wsj.com time to read: 1 min

NAGI, Japan—Mayor Masachika Oku is worried about the children in this remote town getting tired. “They’re being chased by visitors with cameras every day,” he said. The visitors, including Japan’s leader, are making the trek in search of a valuable secret that may lurk here: how to make more babies.

☆ Global Financial Watchdog Suspends Russia’s Membership
▼ + stars: | 2023-02-24 | by ( Mengqi Sun | ) www.wsj.com time to read: +4 min

A global financial watchdog, in an unprecedented move, suspended Russia’s membership in the organization, on the first anniversary of the Kremlin’s invasion of Ukraine. FATF said Russia’s war in Ukraine is a violation of the group’s principles to promote security, safety and the integrity of the global financial system and breaks with FATF’s commitment to international cooperation and mutual respect. Russia’s suspension from FATF significantly restrains the country’s influence on any FATF decisions while casting a shadow on its business climate, observers said. Russia, however, remains liable for membership dues if it intends to reapply for membership in the future. “The measure is both an important political statement as well as a recognition of the threats to the global financial system posed by Russia.

☆ India finance minister and U.S. Treasury's Yellen discuss debt, crypto
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

[1/3] Indian Finance Minister Nirmala Sitharaman speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. Made Nagi/Pool via REUTERSBENGALURU, Feb 23 (Reuters) - Indian Finance Minister Nirmala Sitharaman and U.S. Treasury Secretary Janet Yellen discussed strengthening multilateral development banks, global debt vulnerabilities and crypto assets on the sidelines of the G20 finance chiefs meeting on Thursday, the finance ministry said. India is hosting the first major G20 event under its year-long presidency at the summer retreat of Nandi Hills near tech hub Bengaluru. "The two leaders discussed their perspectives on strengthening MDB (multilateral development banks), global debt vulnerabilities, crypto assets besides the Just Energy Transition Partnership," New Delhi's finance ministry said in a tweet. Under the partnership, the United States and its allies, as well as multilateral development banks and agencies, provide funding to developing economies to move away from coal production and consumption.

☆ South Korea's economic slump to bottom in H1 2023 - finance minister
▼ + stars: | 2022-12-18 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Made Nagi/Pool via REUTERSSEOUL (Reuters) - South Korea’s finance minister said on Monday the economy is slowing at a more rapid pace than previously expected and would bottom in the first half of next year. “Our economy’s growth is expected to slow next year due to the effects from a global economic slump, and the difficulty will be focused on the first half,” Minister Choo Kyung-ho said at the opening of a meeting with the ruling party leadership. The meeting was held ahead of the government’s announcement later this week of its economic policy strategies for next year, which will be the first full-year statement for President Yoon Suk-yeol’s administration since its launch in May.

☆ South Korea flags economic slump deepening for while
▼ + stars: | 2022-12-18 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. South Korea’s economy, the fourth-largest in Asia, relies heavily on exports ranging from cars and ships to chips and smartphones. The central bank last month cut its projection for next year’s economic growth to 1.7% from the previous 2.1% in its scheduled revision, citing falling exports and the resultant reduction likely in corporate investment. The ministry is due to unveil its 2023 economic projections and strategies on Wednesday. President Yoon, struggling against low approval ratings, says exports are the best choice for the manufacturing-heavy country to overcome its slump.

[1/2] Indian Finance Minister Nirmala Sitharaman speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. The proceeds from green bonds will not be used to fund hydropower plants larger than 25 MW, nuclear projects and any biomass-based power generation with biomass originating from protected areas, the government said in the green bond framework released on Wednesday. A green finance working committee headed by the Chief Economic Adviser V Anantha Nageswaran will select public sector projects for green financing from those submitted by government departments. The committee will annually identify fresh projects to be funded through green bonds. The Indian government had sought assistance for its green bond framework from the World Bank and CICERO Shades of Green, a Danish firm that helps with environment assessments on green bond frameworks.

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