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☆ Qatari royal reportedly invested $50 million in pro-Trump news channel Newsmax
▼ + stars: | 2024-03-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Right-wing news outlet Newsmax received an investment of roughly $50 million from a Qatari royal between 2019 and 2020, the Washington Post reported, citing documents seen by the paper and confirmations from representatives of both Newsmax and the royal investment firm. Former Qatari government official Sheikh Sultan bin Jassim Al Thani invested in Newsmax through Heritage Advisors, a London-based investment fund that he owned, according to the report. According to the Post's reporting on Tuesday, Newsmax was looking for investors to compete with the likes of Fox News. In a statement cited by The Hill, a Newsmax spokesperson said: "In 2019 Newsmax received a minority investment from a UK-based fund with a Qatari investor that also invested in a company associated with the current Washington Post publisher. The Qatari royal "transferred his stake to a Cayman Islands-based corporate structure," the Post reported, adding that the $50 million investment represented a "significant minority stake."

Persons: George R, Newsmax, Sultan bin Jassim Al Thani, Donald Trump's Organizations: National Rifle Association, Brown Convention, Washington Post, Former Qatari, Heritage Advisors, United Arab, Doha stringently, Fox News, CNBC, Qatari, Dominion Voting Systems Locations: Houston , Texas, Newsmax, London, Qatar, United Arab Emirates, Saudi Arabia, Qatari, Cayman Islands

☆ Boeing needs to be led by engineers, time is not on its side, Emirates Airline president says
▼ + stars: | 2024-03-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Boeing needs to be led by engineers if it wants to pull itself out of its current crisis, Tim Clark, the president of Emirates Airline, said in comments Wednesday. "To fix Boeing's issues the company needs a strong engineering lead as its head coupled to a governance model which prioritizes safety and quality," said Clark, who leads Dubai's flag carrier Emirates. Aviation analysts and former Boeing employees have criticized the company's reported sidelining of engineers in its senior management ranks. Boeing CEO Dave Calhoun will also step down at the end of 2024. "Whether, yet again, this changing of the guard will resolve Boeing's issues only time will tell, but time, unfortunately, is not on their side," Clark said.

Persons: Tim Clark, Max, Clark, Stan Deal, shakeup, Stephanie Pope, Dave Calhoun Organizations: Boeing, Emirates Airline, Alaska Airlines, Federal Aviation Administration, Justice Department, FAA, Max, Emirates, Machinists, Aviation, CNBC

☆ 'An extraordinary thing': U.S. break with Israel on UN cease-fire vote triggers Netanyahu rage
▼ + stars: | 2024-03-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Israeli Prime Minister Benjamin Netanyahu had warned prior to the vote that the delegation's visit would be pulled, if Washington did not veto the motion. "The U.S. declining to protect Israel from a resolution it passionately objects to by not providing a veto is an extraordinary thing." The motion also called for the immediate and unconditional release of all hostages held by Hamas in the Gaza Strip. "In this case, the abstention is a very strong signal to Israel that the United States is losing patience," Ibish said. Smoke billows after Israeli bombardment in central Gaza City on March 18, 2024, amid the ongoing battles between Israel and the militant group Hamas.

Persons: United Nations Linda Thomas, Greenfield, Angela Weiss, Israel, Benjamin Netanyahu, Hussein Ibish, Matthew Miller, Miller, Netanyahu, Chuck Schumer, Ibish, Israel's, Biden Organizations: United Nations, United Nations Security, UN, Afp, Getty, Hamas, White, Security, U.S, UN Security Council, Gulf States Institute, CNBC Locations: Gaza, New York, Israel, Palestinian, Washington, Israeli, United States, Rafah, Gaza City

☆ Saudi Arabia is building the world's first Dragon Ball Z theme park
▼ + stars: | 2024-03-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Visitors try out the latest version of Dragon Ball Z Kakarot at the 2019 Gamescom gaming trade fair in Cologne, Germany. Saudi Arabia is set to become home to the first-ever Dragon Ball Z theme park — a 5.3 million square foot entertainment venue announced as part of the kingdom's huge Qiddiya project. Five of the rides at the Dragon Ball Z theme park will be "world firsts," according to the release, one of which will be a 230-foot-high roller coaster called Shenron, named after the series' magical dragon. Vision 2030, the name of this project, a brainchild of Saudi Crown Prince Mohammed bin Salman, has also set a target of 150 million tourists visiting the kingdom annually by 2030. Tourism reached a record for the country in 2023 at 106 million, according to its tourism ministry — an increase of 56% from 2019.

Persons: Prince Mohammed bin Salman, It's Organizations: Toei Animation, Saudi, Public Investment Fund, Nintendo, Tourism Locations: Cologne, Germany, Saudi Arabia, Japan, Riyadh —, Riyadh, City

☆ Saudi Arabia's massive wealth fund is in talks to acquire national airline Saudia: Report
▼ + stars: | 2024-03-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Saudi Arabia's behemoth sovereign wealth fund is in talks to buy the kingdom's national airline Saudia, Bloomberg reported over the weekend, citing people familiar with the matter. According to the initial report, the acquisition would see the PIF take over the airline's ownership from the government to increase its efficiency and ability to make profit. Founded in 1945, Saudia has a fleet of 144 aircraft — 93 Airbus planes and 51 made by Boeing — and flies to more than 100 destinations, according to its website. It is not yet known how the airline would be valued. Talks are said to be in early stages, and could be delayed or axed altogether, Bloomberg reported.

Persons: Saudia, Boeing — Organizations: Saudi, Saudia, Bloomberg, Public Investment Fund, Riyadh Air, Airbus, Boeing Locations: Saudi Arabia

☆ Ukraine war updates: Western leaders slam Putin's election win as 'illegitimate'; Ukraine hit with new wave of drone attacks
▼ + stars: | 2024-03-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Russian President Vladimir Putin meets with the media at his campaign headquarters in Moscow on March 18, 2024. Russian President Vladimir Putin swept through the country's election over the weekend to secure a fifth term in power, claiming 87.97% of the vote in a contest with no real opposition. Western leaders condemned the poll as "illegitimate" and neither free nor fair, while Putin hailed the result and turnout as proof of his country's democracy. Ukraine's Air Force said it downed 17 out of 22 Iranian-made Shahed attack drones sent from Russia over a number of Ukrainian cities overnight. It reported that six people were injured and warned of further danger from ballistic missiles in the northeastern region of Kharkiv.

Persons: Vladimir Putin, Putin Organizations: Putin, Ukraine's Air Force Locations: Moscow, Russian, Russia, Kharkiv

☆ Turkey opts for new tightening strategy after signaling a pause to hikes
▼ + stars: | 2024-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

A picture taken on August 14, 2018 shows the logo of Turkey's Central Bank at the entrance of its headquarters in Ankara, Turkey. Turkey's central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was over. The institution sent a directive to lenders, effective Friday, instructing them to put parts of their required lira reserves into blocked accounts. Economic data platform Emerging Market Watch posted on X, describing the central bank as taking "another tightening step via reserve requirements." "Last week the CBRT tightened restrictions on lira loan growth, a move that would likely have a similar impact to an interest rate hike."

Persons: That's, Arda Tunca, Dan Murphy Organizations: Turkey's Central Bank, Reuters, CNBC, Capital Economics, FX, Economics Locations: Ankara, Turkey, Turkey's, Istanbul, Turkish, London

☆ How far does Gulf money go? An Abu Dhabi-backed newspaper buyout attempt is sparking panic in London
▼ + stars: | 2024-03-14 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Copies of The Daily Telegraph newspaper on a newsstand in a shop in London, UK, on March 12, 2024 (L), and UAE Vice President Sheikh Mansour bin Zayed al-Nahyan speaking at COP28 on Dec. 1, 2023. More than 100 members of Parliament have signed a letter opposing the buyout of major British newspaper the Telegraph and news magazine, The Spectator, by UAE government-backed investment fund RedBird IMI. Long a favorite of Britain's Conservative Party, ownership of the 168-year old daily is not just about profit, but about power. The deal would ultimately see the Telegraph, which is valued at a reported £600 million, come under full Emirati ownership. Lawmakers have been scrambling to introduce a new law that would enable Parliament to veto buyouts of news outlets by foreign governments.

Persons: Sheikh Mansour bin Zayed, Nahyan, Britain's, Long, Sheikh Mansour bin Zayed Al Nahyan, Barclay, Lucy Frazer Organizations: Daily Telegraph, UAE, COP28, United Arab Emirates, United Emirates, British, Telegraph, The, IMI, Britain's Conservative Party, Lloyds Bank, State for Culture, Media, Sport Locations: London, DUBAI, United Arab, Qatar, Saudi Arabia, UAE

☆ BP and Abu Dhabi National Oil Company suspend major purchase in Israeli gas firm
▼ + stars: | 2024-03-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

DUBAI, United Arab Emirates — Plans for a 50% stake purchase by energy major BP and Abu Dhabi National Oil Company (Adnoc) in Israeli gas producer NewMed are on hold because of regional turbulence, NewMed said Wednesday. The three companies "have agreed, due to the uncertainty created by the external environment, to suspend discussions in relation to the proposed transaction," a NewMed statement said. The statement also said that BP and Adnoc "reiterated [their] interest in the proposed transaction," indicating that the deal was not permanently off the table. At the time, BP and Adnoc said that the deal would result in a joint venture from the two companies to focus on "gas development in international areas of mutual interest including the East Mediterranean." The two companies last month announced a separate gas joint venture in Egypt.

Persons: NewMed, Adnoc Organizations: Abu, Abu Dhabi National Oil Company, Tel, BP, CNBC Locations: Nasholim, DUBAI, United Arab Emirates, Abu Dhabi, Tel Aviv, Egypt

☆ Pope Francis' 'white flag' call for Ukraine faces backlash; India wants its 'duped' citizens back from Russian army
▼ + stars: | 2024-03-11 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

A screen grab from a video shows artillerymen of the West group of troops, moving along the Kupyansk direction as military mobility of Russian soldiers of MLRS 'Tornado-G' of the group of forces 'West' in the direction of Kupiansk continue in Kharkiv Oblast, Ukraine on March 08, 2024. Pope Francis is facing backlash from Ukrainian and other European leaders over comments he made in an interview advocating for putting up a "white flag" and negotiating with Russia, saying that the "strongest" party in the war is "the one who has the courage of the white flag, and negotiates." Shelling continues in eastern Ukraine, where local authorities say three people were killed and a dozen injured by Russian fire. Kyiv on Sunday said that Moscow launched missiles at the northeastern region of Kharkiv and drone attacks on Ukraine's center and south, while Russian authorities said that a Russian woman in the border region of Kursk was killed by Ukrainian shelling. Elsewhere, India is seeking the release of its citizens who have been "duped" into serving in the Russian army, Indian government officials have said, demonstrating a rare critique of Moscow.

Persons: Pope Francis Organizations: Sunday Locations: Kharkiv Oblast, Ukraine, Russia, Kyiv, Moscow, Kharkiv, Russian, Kursk, India

☆ Ray Dalio says Taylor Swift should be president, posts Eras Tour selfie
▼ + stars: | 2024-03-08 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Hedge fund billionaire Ray Dalio attended a Taylor Swift Eras Tour concert in Singapore, and posted a selfie from the packed venue along with a caption explaining why he thought the megastar should be the next president of the United States. the Bridgewater Associates founder Dalio wrote Thursday on Instagram. Dalio later tweeted an update, elaborating on his frame of mind when he made the first post, and explaining it. "Re: my Taylor Swift for president! Perhaps he now hopes Swift will fill in the blank space left by Haley's recent departure for the race.

Persons: Ray Dalio, Taylor, @TaylorSwift, !, Dalio, Taylor Swift, Swift's, Joe Biden's, Donald Trump, Swift, Nikki Haley Organizations: Bridgewater Associates, Pentagon, CIA, Biden, Super, Trump, United Nations Locations: Singapore, United States, Bridgewater, U.S

☆ The 'special relationship' under pressure: Are Biden and Netanyahu on a collision course over Gaza?
▼ + stars: | 2024-03-08 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

US President Joe Biden (L) and Prime Minister Benjamin Netanyahu (R) meet in Tel Aviv, Israel on October 18, 2023. "The relationship [between Biden and Netanyahu] is absolutely terrible." A report by Politico in early February cited unnamed Biden administration officials describing the president calling Netanyahu a "bad f—ng guy." Israeli war cabinet member Benny Gantz (L) meets US Senate Majority Leader Chuck Schumer, Democrat of New York, at the US Capitol on March 05, 2024. Gantz reportedly faced a barrage of harsh questions and critiques from the administration over Israel's handling of the Gaza war.

Persons: Joe Biden, Benjamin Netanyahu, Biden, Israel's, Yasser Qudih, Netanyahu, Hussein Ibish, Benny Gantz, Chuck Schumer, Roberto Schmidt, Axios, Gantz, Donald Trump, Kamala Harris, Mostafa Bassim, Nimrod Novik, Novik, Ashraf Amra, I've, Ibish, Yonatan Freeman, Israel, Freeman Organizations: GPO, Getty Images, Anadolu Agency, Getty, White, Israeli, Biden, Palestinian, United Nations, Israel, Anadolu, West Bank, U.S, Gulf States Institute, CNBC, Politico, Capitol, AFP, Prime, Islamic Center of Detroit, Defense, Israel Policy Forum, Bank, Israel's Hebrew University, Christian Locations: Tel Aviv, Israel, Anadolu, Gaza, Rafah, Gaza's, Washington, New York, Michigan, United States, Palestinian, Gaza City, Jerusalem, U.S, Saudi Arabia

☆ Biden 'determined' not to deploy U.S. troops to Ukraine; Chinese delegation meets in Kyiv
▼ + stars: | 2024-03-08 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Microsoft on Friday said that Russian group Nobelium, which the company refers to as Midnight Blizzard, has been trying to access its internal systems and source code repositories. "In recent weeks, we have seen evidence that Midnight Blizzard is using information initially exfiltrated from our corporate email systems to gain, or attempt to gain, unauthorized access. This has included access to some of the company's source code repositories and internal systems," Microsoft said in a blog post. Microsoft said Midnight Blizzard was trying to access secrets, including those shared between Microsoft and its customers, but that it was reaching out and helping affected customers. Microsoft first said in January that it had detected a cyberattack from Nobelium, which saw the Russian group hack emails from top executives.

Persons: Blizzard, — Sophie Kiderlin Organizations: Microsoft, Midnight Locations: Nobelium, Russian

☆ Egypt hikes interest rates by 600 basis points, pound crumbles to record low
▼ + stars: | 2024-03-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Egypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The Egyptian pound was trading at roughly 50 to the dollar following the announcement, from 30.85 previously, according to LSEG data. The country's key interest rate now stands at 27.25%, the central bank said Wednesday. Egypt, the Arab world's most populous country at roughly 110 million people, is facing a protracted shortage of foreign currency. "In preparation for the successful implementation of these measures, sufficient funding has been secured to avail foreign exchange liquidity."

Persons: James Swanston, Egypt's Organizations: International Monetary Fund, Economics, United, IMF, Monetary, Government, P Global Market Intelligence Locations: Egypt, East, Africa, London, United Arab Emirates, Cairo

☆ Turkish annual inflation soars to 67% in February
▼ + stars: | 2024-03-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Turkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations. Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last month. The combined sector of hotels, cafes and restaurants saw the greatest annual price inflation increase at 94.78%, followed by education at 91.84%, while the rate for health stood at 81.25% and transportation at 77.98%, according to the statistical institute. "Obviously a disappointing set of inflation prints this morning," Timothy Ash, emerging markets strategist at BlueBay Asset Management, wrote in a note. He added that this development has "continued to put downward pressure on the lira," creating an inflation pass-through.

Persons: Liam Peach, Mehmet Simsek, Turkey's, Timothy Ash, Ash Organizations: Turkish Statistical Institute, Reuters, Food, Economics, Capital Economics, Turkish, BlueBay Asset Management, FX Locations: Sariyer, Istanbul, Turkish, London

☆ Iran holds first elections since Mahsa Amini protests, with low turnout and boycott expected
▼ + stars: | 2024-03-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Iranian women cast their ballots at a polling station during elections to select members of parliament and a key clerical body, in Tehran on March 1, 2024. Iran holds its parliamentary elections on Friday, in the first vote for Iranians since a nationwide protest movement for women's rights rocked the country in 2022. "Transition from the despotic religious regime is a national demand and the only way for the survival of Iran, Iranians, and our humanity," Mohammadi added. "And providing the political system with overt legitimacy, after the very system has disregarded and abused people and civil rights, is just too much." Country analysts expect a nationwide turnout of between 30% and 50%, while state polling center ISPA estimated the turnout in Tehran at just 23.5% and 38.5% nationally.

Persons: Ayatollah Ali Khamenei, Khamenei, Mehdi, Narges Mohammadi, Mohammadi, Sanam Vakil Organizations: Islamic, Assembly, Experts, CNBC, Iranian, Chatham House Locations: Tehran, Iran, Iran's, East, North Africa

☆ Biden faces anger from key Arab-American voters in Michigan primary over Israel support in Gaza war
▼ + stars: | 2024-02-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Michigan's Arab-American community voted overwhelmingly for Biden in 2020, helping him carry the state and defeat then-incumbent Donald Trump. U.S. President Joe Biden is welcomed by Israeli Prime Minster Benjamin Netanyahu, as he visits Israel amid the ongoing conflict between Israel and Hamas, in Tel Aviv, Israel, October 18, 2023. Evelyn Hockstein | Reuters"The U.S. election for President Biden could swing on two or three states," Fred Kempe, CEO of the Atlantic Council, told CNBC. "Take one of those states, Michigan, [which] Biden won by fewer votes in the last election than there are Arab American votes that could go against him, because of what's going on in the Middle East. Pro-Palestinian demonstrators march during a visit by President Joe Biden in Warren, Mich., Feb. 1, 2024.

Persons: Mostafa Bassim, Biden's, Julie Chavez Rodriguez, Ahmad Hasaballah, Rodriguez, Abdullah H, Hammoud, Biden, Donald Trump, Joe Biden, Benjamin Netanyahu, Evelyn Hockstein, Fred Kempe, it's, Jon, Paul Sancya, Gretchen Whitmer, Abdulqader Organizations: Islamic Center of Detroit, Anadolu, Getty, Michigan's Democratic, Israel, Palestinian, Hamas, United Nations, Dearborn, White, CNBC, Democratic, Israeli, Reuters, Atlantic Council, U.S, The New York Times, Michigan, Trump, Israeli Forces Locations: Michigan, United States, Warren , Michigan, Gaza, Dearborn, U.S, Rafah, Dearborn , Michigan, Arab, American, Israel, Tel Aviv, Warren, Mich, Khan Yunis

☆ Goldman Sachs and Abu Dhabi's Mubadala ink $1 billion partnership to invest in Asia Pacific
▼ + stars: | 2024-02-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1 billion private credit partnership to co-invest in the Asia-Pacific region, with a particular focus on India, the institutions said in a joint statement. The separately managed account, termed the "Partnership," will be managed by Private Credit at Goldman Sachs Alternatives, with a staff based on the ground in various markets across the region. It will invest the long-term capital in "high quality companies ... across the private credit spectrum" across a number of Asia-Pacific markets. The UAE in October 2023 announced a target to invest $75 billion in India over a period of time, while Saudi Arabia set an investment target in the country of $100 billion. "India, in particular, stands out as a key market with significant opportunities in private credit, and where Goldman Sachs has strong exposure and capabilities," said Fabrizio Bocciardi, Mubadala's head of credit investments, in a press release.

Persons: United Arab Emirates — Goldman Sachs, Goldman Sachs, Fabrizio Bocciardi Organizations: United Arab Emirates, Monday, Private Credit, Goldman Sachs, Abu Dhabi Global Market, United Arab Locations: DUBAI, United Arab, Abu Dhabi, Asia, Pacific, India, United Arab Emirates, UAE, Saudi Arabia

☆ Iran has the largest ballistic missile arsenal in the Middle East. Now it's sending them to Russia
▼ + stars: | 2024-02-23 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Iran presents its first hypersonic ballistic missile 'Fattah' (Conqueror) in an event attended by President Ebrahim Raisi and other government officials in Tehran, Iran on June 06, 2023. Reuters reported that Iran delivered at least 400 of its short-range Fateh-110 ballistic missiles to Russia in January of this year, and that figure is likely to rise. "It was always a matter of when, not if, Iran would transfer ballistic missiles to Russia," Behnam ben Taleblu, a senior fellow at the Foundation for Defense of Democracies, told CNBC. Ballistic missiles will keep him in that fight for longer now." In 2022, U.S. Central Command estimated that Iran had over 3,000 ballistic missiles in its arsenal.

Persons: Ebrahim Raisi, Vladimir Putin, Behnam ben Taleblu, Putin Organizations: Reuters, Foundation for Defense of Democracies, CNBC, U.S . Central Command Locations: Iran, Tehran, Russia, Ukraine, Moscow, U.S, Iraq, Syria, Pakistan

☆ Turkey holds interest rate at 45% for first time after 8 months of hikes
▼ + stars: | 2024-02-22 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

Turkey is expected to head to the polls on Sunday. Turkey's central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated in January that its 250-basis-point hike would be its last for the year, despite inflation now at roughly 65%. Consumer prices in the country of 85 million last month jumped 6.7% from December — their biggest monthly jump since August — according to the Turkish central bank's figures. This is a developing story and will be updated shortly.

Organizations: Turkish Locations: Turkey, Turkish

☆ Turkey is back in from the cold with NATO and F-16 moves, but thorny issues remain
▼ + stars: | 2024-02-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.

Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern

☆ Middle East escalation fears spike as Houthis launch most damaging attack yet
▼ + stars: | 2024-02-20 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Houthi military spokesman Yahya Saree claimed the group's responsibility for the attack, calling it their most severe yet. The group claim to support Palestinian civilians amid Israel's retaliatory military campaign in the Gaza Strip. Simultaneously, fighting is raging between Israel and Hamas in the Gaza Strip with no sign of abating despite diplomatic efforts by a number of countries. INTERNATIONAL WATERS RED SEA, YEMEN - NOVEMBER 20: This handout screen grab captured from a video shows Yemen's Houthi fighters' takeover of the Galaxy Leader Cargo in the Red Sea coast off Hudaydah, on November 20, 2023 in the Red Sea, Yemen. EU foreign ministers called in a joint statement for an immediate humanitarian pause that would lead to a lasting cease-fire.

Persons: Mohammed Huwais, Yemen's, Yahya Saree, Saree, Charles Myers, CNBC's, Myers, Hungary —, Israel's, Benjamin Netanyahu, Israel, hasn't, Mohammed Abed Organizations: Hamas, Afp, Getty, U.S . Central Command, Global Advisors, SEA, Galaxy Leader Cargo, Handout, Security, Palestinian Locations: Israel, Sanaa, Gaza, Red, Belize, Gulf, Aden, Iranian, Yemen, U.S, Gulf Aden, Rafah, Gaza's, YEMEN, Red Sea, Lebanon, Iran, Beirut, Hungary

☆ Israel's GDP contracts nearly 20% in fourth quarter amid Gaza war
▼ + stars: | 2024-02-20 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Nov. 7, 2023. Israel's gross domestic product shrank nearly 20% in the fourth quarter of 2023, according to official figures. It reflects the toll of the country's war against Hamas in Gaza, now entering its fifth month. "The deep GDP contraction occurred despite a strong surge in public sector consumption as well as a positive net trade contribution, with the decline in imports outpacing the decline in exports." Before then, more than 150,000 Palestinian workers from the occupied West Bank entered Israel daily for work in a range of sectors, predominantly in construction and agriculture.

Persons: Goldman Sachs Organizations: Carmel, Goldman, West Bank, Israel Locations: Israeli, Tel Aviv, Israel, Gaza

☆ Only the U.S. can force peace in the Middle East and it should pressure Israel, Lebanon foreign minister says
▼ + stars: | 2024-02-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Lebanon's foreign minister called on the U.S. to pressure Israel and bring an end to its bloody war with Palestinian militant group Hamas, which has now entered its fifth month. "We want peace, I think the Palestinians are ready for peace and Americans should — [they are] the only country that can really enable peace," Bou Habib told CNBC's Silvia Amaro. "But they should exert some pressure over Israel like what happened in the 70s, Kissinger was there, and he exerted pressure on Israel to do the peace." Recent bills in the U.S. Congress have allocated tens of billions more in military aid since the Hamas terror attack of Oct. 7 that killed roughly 1,200 people. If the U.S. can't play a prominent role in stopping the hostilities, "then the war will continue," Bou Habib said.

Persons: Abdallah Bou Habib, Bou Habib, CNBC's Silvia Amaro, Kissinger, Henry, Israel, Israel's Organizations: Palestinian, Hamas, CNBC, Munich Security, Congressional Research Service, U.S . Agency for International Development, Washington, U.S, Congress Locations: Israel, Washington, U.S, Gaza

☆ China's biggest problem is a 'lack of confidence,' Standard Chartered CEO says
▼ + stars: | 2024-02-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

"China's biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic savers lack confidence," Bill Winters, CEO of emerging markets-focused bank Standard Chartered, told CNBC's Dan Murphy Monday during a panel discussion. "But I think China is going through a major transition from old economy to new economy," Winters added. Investors are closely watching China, whose stock market gyrations, deflation problem and property woes are casting a shadow over the global growth outlook. Property and related industries account for about 25% of China's gross domestic product.

Persons: Bill Winters, CNBC's Dan Murphy, Winters Organizations: Chartered, International Monetary Fund Locations: DUBAI, United Arab Emirates, China

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