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☆ IMF warns British government against more tax cuts
▼ + stars: | 2024-01-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — The U.K. government should not introduce further tax cuts this year, the International Monetary Fund said Tuesday, as its chief economist argued the national budget needed the money for public services and growth-friendly investments. "In that context, we would advise against further discretionary tax cuts, as envisioned or discussed now," he said. An IMF spokesperson separately said the U.K. had higher spending needs across public services and investments than were currently reflected in the government's budget plans. Hunt announced several tax cuts in his fall budget, and made several suggestions he wants to introduce more in the spring. The IMF on Tuesday forecast 0.6% growth for the U.K. economy this year, up slightly from an estimated 0.5% figure for 2023.

Persons: Jeremy Hunt, Pierre, Olivier Gourinchas, Hunt Organizations: British, LONDON, International Monetary Fund, National Health Service, IMF, Conservative, Conservatives, Labour

☆ Malaysia Ex-Finance Minister Charged With Alleged Failure to Declare Assets
▼ + stars: | 2024-01-28 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

Trump Sees Holdouts in GOP SenatorsTrump has a long list of national lawmakers who have endorsed him. So while the holdouts might bother him on a personal level, they likely don’t have much influence over the Republican nomination in 2024.

Persons: GOP Senators Trump Organizations: Trump, GOP Senators, Republican

☆ Tuvalu: Climate-threatened Pacific nation holds election closely watched by China and Taiwan
▼ + stars: | 2024-01-26 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

CNN —Voting began on Friday in the tiny Pacific island nation of Tuvalu in a national election that is being closely watched by China, Taiwan, the United States and its ally Australia, amid a tussle for influence in the region. Most of Tuvalu is forecast to be flooded by high tides by 2100, says the United Nations Development Programme, which is working with Tuvalu to bolster its coastline. Tuvalu is one of three remaining Pacific allies of Taiwan, after Nauru cut ties this month and switched to Beijing, which pledged more development support. The new government should decide whether Taiwan or China can best respond to Tuvalu’s development needs, he said. Prime Minister Kausea Natano has told Taiwan he continues to support ties, Taiwan said.

Persons: “, ”, Seve Paeniu, Kausea Natano, Enele Sopoaga, Natano, Simon Kofe, Sopoaga, Kofe Organizations: CNN, United Nations Development, Washington, Tuvalu’s Finance, Reuters, Australia Locations: Tuvalu, China, Taiwan, United States, Australia, Funafuti, Pacific, Nauru, Beijing, Nukulaelae, Kofe, United Nations, Canberra

☆ Climate Threatened Tuvalu Holds Election Watched by Taiwan, China
▼ + stars: | 2024-01-25 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Kirsty NeedhamSYDNEY (Reuters) -Voting began on Friday in the tiny Pacific Island nation of Tuvalu in a national election that is being closely watched by China, Taiwan, the US and its ally Australia, amid a tussle for influence in the region. Most of Tuvalu is forecast to be flooded by high tides by 2100, says the United Nations Development Programme, which is working with Tuvalu to bolster its coastline. Taiwan on Thursday said China was trying to influence the Tuvalu election and "seize our diplomatic allies". The new government should decide whether Taiwan or China can best respond to Tuvalu's development needs, he said. Prime Minister Kausea Natano has told Taiwan he continues to support ties, Taiwan said.

Persons: Kirsty Needham SYDNEY, Seve Paeniu, Kausea Natano, Enele Sopoaga, Natano, Simon Kofe, Sopoaga, Kofe, Kirsty Needham, Ben Blanchard, Michael Perry Organizations: United Nations Development, Washington, Tuvalu's Finance, Reuters, Australia Locations: Tuvalu, China, Taiwan, Australia, Funafuti, Pacific, United States, Nauru, Beijing, Nukulaelae, Kofe, United Nations, Canberra, Sydney, Taipei

☆ Explainer-What Is the Two-State Solution to the Israel-Palestinian Conflict?
▼ + stars: | 2024-01-25 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +10 min

Obstacles have long impeded the two-state solution, which envisages Israeli and Palestinian states alongside each other. Advocates of the two-state solution have envisaged a Palestine in the Gaza Strip and West Bank linked by a corridor through Israel. As the two-state solution has floundered, talk of a one-state solution has risen. U.N. Secretary General Antonio Guterres, in a Jan. 23 speech, said the two-state solution remained the only way to address the aspirations of Israelis and Palestinians. He criticised "clear and repeated rejection of the two-state solution at the highest levels of the Israeli government".

Persons: Benjamin Netanyahu, Israel, Yasser Arafat, Yitzhak Rabin, Rabin, Bill Clinton, Arafat, Ehud Barak, Camp David, Jerusalem, Joe Biden, Abdel Fattah al, Abbas, Mahmoud Abbas, Bezalel Smotrich, Netanyahu, Abbas's Fatah, Biden, Osama Hamdan, General Antonio Guterres, Nidal al, Ali Sawafta, Maayan Lubell, Dan Williams, Ari Rabinovitch, Tom Perry, Angus MacSwan Organizations: Reuters, United Nations, Arab League, Israel, West Bank, Palestine Liberation Organization, PLO, Palestinian Authority, Israeli, Bank, Geneva Accord, Finance Locations: Washington, Gaza, Palestinian, Jordan, Jerusalem, Palestine, Europe, Israel, Lebanon, Syria, East Jerusalem, Egypt, U.S, Oslo, Israeli, West Bank, Jordanian, Oslo Accords, U.N

ANKARA, Turkey (AP) — Turkey’s central bank raised its key interest rate by another 2.5 percentage points on Thursday, pressing ahead with a series of hikes aimed at combating inflation that reached nearly 65% in December. Erdogan is a longtime proponent of an unorthodox policy of cutting interest rates to fight inflation, which runs contrary to mainstream economic thinking. The European Central Bank is expected to keep its record-high benchmark rate steady at its meeting Thursday, following a rapid series of hikes over more than a year. Hafize Gaye Erkan, a former U.S.-based bank executive, took over as central bank governor in June, becoming the first woman to hold that position in Turkey. Previously, Erdogan had fired central governments who reportedly resisted his push to cut interest rates.

Persons: Recep Tayyip Erdogan, Erdogan, Merrill Lynch, Mehmet Simsek, Hafize Gaye Erkan, Erkan, ” Organizations: European Central Bank, Turkish Locations: ANKARA, Turkey, Ukraine, U.S

☆ European Central Bank staff slam Lagarde's leadership in union survey
▼ + stars: | 2024-01-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde received a harsh assessment in a union-run employee survey, with some staff accusing her of fostering a negative atmosphere and focusing on her own career. Many respondents said Lagarde spends "too much time on topics unrelated to monetary policy" and forays too often into political discussion, the ECB union IPSO said alongside the results released Monday. Just over half of the nearly 1,100 respondents rated Lagarde's performance so far as "very poor" or "poor." The survey was conducted between Dec. 12 and Dec. 22, 2023, around the mid-point of Lagarde's eight-year term. The former International Monetary Fund chief and French finance minister took on the job spearheading euro zone monetary policy in November 2019.

Persons: Christine Lagarde, Lagarde, IPSO Organizations: European Central Bank, ECB, International Monetary Fund

WELLINGTON, New Zealand (AP) — Inflation in New Zealand has slowed to its lowest rate in two and a half years, the country's official statistics agency announced on Wednesday. The agency said falling food and transport prices were the main drivers of the slowdown in the inflation rate which had peaked at 7.3 per cent in 2022. Political Cartoons View All 253 ImagesNew Zealand Finance Minister Nicola Willis said a key goal of the government was to lower inflation. “Our immediate focus is getting inflation back into the target range under three per cent,” she said. The result means annual inflation rate is now at its lowest since June 2021, while quarterly inflation was tracked at 0.5 per cent, the smallest rise since December 2020.

Persons: Nicola Willis Organizations: Reserve Bank of New, Reserve Bank, New Zealand Finance Locations: WELLINGTON, New Zealand

☆ Widening Mideast Crisis Israel to Make Case for War Before E.U. Amid Growing Criticism
▼ + stars: | 2024-01-22 | by ( Peter Baker | Adam Rasgon | ) www.nytimes.com time to read: +4 min

“My insistence is what has prevented — over the years — the establishment of a Palestinian state that would have constituted an existential danger to Israel,” Mr. Netanyahu said in a statement in Hebrew on Sunday. While there was no indication that Mr. Netanyahu would ease his strenuous opposition, which is popular with his fragile right-wing political coalition, Mr. Biden had expressed optimism that they might yet find consensus. President Biden and his top diplomat, Antony J. Blinken, have urged Israeli officials to move toward the eventual establishment of a Palestinian state. Mr. Netanyahu has rejected the idea of the authority returning to the enclave. Analysts pointed out that Mr. Netanyahu’s willingness to undermine his American counterpart was becoming routine.

Persons: Benjamin Netanyahu, Israel, Biden, “, —, ” Mr, Netanyahu, Mr, Netanyahu’s, ”, Grant Shapps, Shapps, ” António Guterres, Guterres, Antony J, Bezalel Smotrich, Itamar Ben, Gvir, ” Khaled Elgindy, Peter Baker Organizations: Mr, White House, Sky News, ” Palestinian Authority, West Bank, American, Middle East Institute Locations: Palestinian, Gaza, Israel, ”, Washington

CNN —Israeli Prime Minister Benjamin Netanyahu on Saturday rejected calls for Palestinian sovereignty following talks with US President Joe Biden on post-war Gaza. Netanyahu said Israel’s need for security control over all territory west of Jordan is incompatible with the existence of a Palestinian state. Biden administration officials have recently been engaged in discussions about a future demilitarized Palestinian state, an idea the US president finds “intriguing,” the source said. It remains an open question how post-war Gaza will be governed but Netanyahu has had long-standing objections to a two-state solution. He and far-right National Security Minister Itamar Ben Gvir sparked anger when advocating for the resettlement of Palestinians outside the Gaza Strip.

Persons: Benjamin Netanyahu, Joe Biden, Netanyahu, Israel’s, ” Netanyahu, Jack Guez, Critics, Gadi Eisenkot, Biden, “, ” Biden, Samuel Corum, Antony Blinken, —, General Antonio Guterres, ”, Bezalel Smotrich, Itamar Ben Gvir Organizations: CNN, Israeli, Twitter, West Bank, Hamas, Getty, Saturday, Biden, UN, White, National Locations: Gaza, Jordan, Palestinian, “, Israel, AFP, Tel Aviv, East

☆ ‘Sick man of Europe?’ Germany says it just needs a coffee
▼ + stars: | 2024-01-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Germany’s finance minister has shrugged off suggestions his country has once again become the “sick man” of Europe. Long the engine of growth in Europe, Germany’s economy shrank last year by 0.3%, likely the weakest performance among the region’s big countries. “I know what some of you are thinking: Germany probably is a sick man. Germany is not a sick man… Germany is a tired man after a short night,” Christian Lindner said at the annual World Economic Forum in Davos, Switzerland. The country became known as the “sick man of Europe” in the late 1990s as its economy faltered and unemployment soared.

Persons: It’s, ”, “, ” Christian Lindner, ” Lindner, ” Daniel Kral Organizations: London CNN —, Economic, Oxford Economics, Germany’s Federal, Office Locations: Europe, Germany, Davos, Switzerland, Germany’s, Ukraine, Moscow, Berlin, Russia, Red

☆ Germany the ‘tired man’ of Europe, finance minister admits
▼ + stars: | 2024-01-19 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

BERLIN, GERMANY - NOVEMBER 15: German Finance Minister Christian Lindner gives a statement to the media at the Chancellery following the weekly government cabinet meeting on November 15, 2023 in Berlin, Germany. "I know what some of you are thinking, Germany probably is a sick man. Germany is not the sick man," Christian Lindner told World Economic Forum delegates at a Bloomberg panel on Friday. References to Germany as the "sick man of Europe" resurfaced last year. The "sick man" title had first been used to describe Germany's economy in 1998 as the country navigated the costly challenges of a post-reunification economy.

Persons: Christian Lindner, Sean Gallup, Lindner Organizations: German Finance, German, Court, Getty, Economic, Bloomberg Locations: BERLIN, GERMANY, Berlin, Germany, Europe

☆ Attack is the best market defense in international competition, ECB's Christine Lagarde says
▼ + stars: | 2024-01-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

President of the European Central Bank (ECB) Christine Lagarde attends a session on the closing day of the World Economic Forum (WEF) annual meeting in Davos, on January 19, 2024. Being strong means having a strong, deep market. Europe faces an uncertain future in its relationship with its closest international ally, following the U.S. vote. With that in mind, Lagarde said Europe should invest more in its capital markets in order to fund investments, such as, for instance, in the green transition. "Our competitive disadvantage compared to the U.S. is not subsidies but the function of our private capital market."

Persons: Christine Lagarde, Lagarde, Joe Biden, —, Donald Trump, Christian Linder, Linder Organizations: European Central Bank, Economic, Republican, German Finance Locations: Davos, Europe, U.S, United States

☆ Saudi Arabia goes big in Davos as it looks to become a top AI tech hub for the Middle East
▼ + stars: | 2024-01-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

A pop-up showcasing Saudi Arabia's Neom development features among the most prominent on the Davos promenade in 2024. But Saudi Arabia is keen to capture some of the limelight, and talent, from its neighbor on the Arabian Peninsula — an ambition laid bare on the Davos Promenade this year. "He's driving entrepreneurship, he's diversifying the economy ... And there are a lot of people that are really interested in working in Saudi Arabia," said Bremmer. "In the Emirates and in Saudi Arabia, you have millions of people that need upskilling, particularly Saudi Arabia which has a much larger population," Hidary said. Hidary, who was recently in Saudi Arabia, says that the UAE and Saudi Arabia are looking at countries like Singapore and Israel that have supported start-ups and are driven by technology.

Persons: Mohammed al, Jadaan, Prince Mohammed bin Salman's, Ian Bremmer, he's, Bremmer, Jamal Khashoggi, King Abdullah, KAUST, Harri Jarvelainen, Vera Futorjanski, Futorjanski, Israel Jack Hidary, Hidary, — CNBC's Karen Gilchrist Organizations: Saudi, CNBC, United Arab, prince's, —, Economic, Al, U.S, Eurasia Group, MBS, World Bank, Research Technology Centers, King, King Abdullah University of Science, Technology, UCLA, Riyadh's, Center, AI Research, AI, Artificial Intelligence Authority, Veritas Ventures, Emirates Locations: Davos, CNBC DAVOS, Switzerland, United Arab Emirates, Saudi Arabia, Neom, Saudi, Riyadh, China, Istanbul, UAE, Singapore, Israel, Emirates

☆ Barclays CEO says difference in Labour and Conservative economic policy is 'fairly minimal'
▼ + stars: | 2024-01-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LIVERPOOL, U.K. - Oct. 11, 2023: Britain's main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty ImagesPolitical risk in the U.K. is "far less than it's ever been" as the difference between the ruling Conservative Party and main opposition Labour on economic policy is "fairly minimal," Barclays CEO C.S. The U.K. is set to hold a General Election later this year, and the latest polling consistently suggests a landslide Labour victory, bringing an end to fourteen years of Conservative rule. "I think the political risk in the U.K. is far less than it's ever been," Venkatakrishnan told CNBC at WEF. The difference in economic policies between the two, and they're both striving to say so, are fairly minimal," he said, referencing two former British leaders.

Persons: Keir Starmer applauds, Paul Ellis, Venkatakrishnan, Keir Starmer, Rishi Sunak's, Rachel Reeves, Margaret Thatcher, James Callaghan, Labour's Organizations: LIVERPOOL, Labour Party, Afp, Getty, Conservative Party, Labour, Barclays, C.S, Conservative, Labour's Shadow, Economic, CNBC Wednesday, CNBC, WEF, British Locations: Liverpool, England, Davos, Switzerland

☆ A strong Saudi Arabia is important for the region, finance minister says
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA strong Saudi Arabia is important for the region, finance minister saysMohammed Al Jadaan, Saudi Arabia's minister of finance, says for the world and region’s economy to flourish, you need stability.

Persons: Mohammed Al Jadaan Organizations: Saudi Locations: Saudi Arabia

☆ Deutsche Bank CEO says acquisitions not a 'priority' as Commerzbank rumors swirl
▼ + stars: | 2024-01-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | ReutersDeutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the future of domestic rival Commerzbank . The state still has a 15% stake in Commerzbank, but Reuters reported earlier this week that Finance Minister Christian Lindner is open to disposing of it. The merger of Germany's two biggest banks would create a combined entity with around $2 trillion in assets, although Deutsche Bank's low valuation could complicate any such move. The bank trades at around 12 euros per share, a fraction of its book value, and a significant portion of assets would need to be marked down.

Persons: Denis Balibouse, Christian Lindner Organizations: Deutsche Bank, Reuters Deutsche Bank CEO, Commerzbank, Reuters, Deutsche, CNBC, Economic Locations: Germany, China, Commerzbank, Davos, Switzerland, Europe

☆ Irish finance minister: Significant fiscal intervention right policy for Ireland
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIrish finance minister: Significant fiscal intervention right policy for IrelandMichael McGrath, Ireland's minister of finance, weighs in on the state of his country's economy, his outlook for 2024, and how central banks are impacting European economies.

Persons: Ireland Michael McGrath Organizations: Ireland

☆ Israel’s far-right wants to move Palestinians out of Gaza. Its ideas are gaining attention
▼ + stars: | 2024-01-17 | by ( Mick Krever | Jomana Karadsheh | ) edition.cnn.com time to read: +13 min

CNN —The Israeli soldiers stand rifles in hand, arm over shoulder, speaking to the camera. “We must promote a solution to encourage the emigration of the residents of Gaza,” far-right National Security Minister Itamar Ben-Gvir said on January 1. Far-right Finance Minister Bezalel Smotrich, who also holds a position in the Defense Ministry, says that Israel “will rule there. If Palestinians in Gaza are “post-Jihad, pro-Israel, and want to live that good life in that beautiful soil, there should be an opportunity for that,” he said. That color was adopted in 2004 and 2005 by the movement protesting Israel’s disengagement from Gaza.

Persons: Benjamin Netanyahu, Yoav Gallant, “, Itamar Ben, Gvir, Bezalel Smotrich, Israel “, Antony Blinken, Dahlia Scheindlin, Itamar Ben Gvir, restoking, Netanyahu, ” Scheindlin, Diana Buttu, Netanyahu’s, ”, Ariel Sharon’s, Katif, Yishai Fleisher, ” Fleisher, we’ve, Fleisher, –, Jordan, ” Israel, Gush Katif, Hanan Ben Ari serenaded, Ben Gvir, Gila, Mahmoud Abbas, ” Omer Bartov, Buttu, ” Netanyahu, ” Tzvi, Melech, Ben Gvir’s Organizations: CNN, Hamas, Palestinian Authority, Gaza . Social Media, ”, Likud, National, Defense Ministry, United, Haaretz, Israeli, National Security, Settler, West Bank, “, Israel, Norwegian Refugee Council, United Nations, International Court of Justice, Israel Defense Forces, Gush, Social Media, Oregon State University, City University of New, Brown University, Smotrich’s, Ben Gvir’s Jewish Power Party Locations: Israel, Gaza, Hamas, Ramallah, Authority, ”, United States, Palestinian, Qatar, “, Hebron, Turkey, South America, South Africa, The Hague, Jerusalem, Gush, Israeli, Nova Beach, City University of New York, Israel’s

☆ UK inflation rate surprises with rise to 4%, led by alcohol and tobacco
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Andresr | E+ | Getty ImagesLONDON — U.K. inflation unexpectedly nudged upwards to 4% year-on-year in December, fueled by a rise in alcohol and tobacco prices. Economists polled by Reuters had expected a modest decline in the annual headline CPI to 3.8%, after November's sharper-than-expected fall to 3.9%. The closely watched core CPI figure — which excludes volatile food, energy, alcohol and tobacco prices — came in at an annual 5.1%, above a 4.9% Reuters forecast and unchanged from November. "This unexpected rise in inflation is a timely reminder that the struggle against soaring inflation is not yet over, particularly given stubbornly high core and services inflation," said Suren Thiru, economics director at ICAEW. "While inflation may rise again in January, following the increase in Ofgem's energy price cap, it should fall at a decent pace thereafter, aided by the expected drop in energy bills from April and lower food inflation."

Persons: Jeremy Hunt Organizations: Reuters, National Statistics, British, Bank of England Locations: U.S, France, Germany

Israeli attacks in Gaza have killed at least 24,100 Palestinians and injured another 60,834, according to the Hamas-run Ministry of Health. Israeli Defense Minister Yoav Gallant, pictured on December 18 in Tel Aviv, announced the withdrawal of some troops from Gaza on Monday. It was the most significant sign so far of a new phase in Israel's military offensive. The withdrawal means there are now three IDF combat divisions left in Gaza, alongside special forces, according to the spokesperson. Thousands of families have moved multiple times as Israel’s offensive has moved to new areas.

Persons: Itamar Ben Gvir, ”, Yoav Gallant, Violeta Santos Moura, Gallant, Ben Gvir’s, Bezalel Smotrich, Benny Gantz, Netanyahu, Benjamin Netanyahu, Abir Organizations: CNN, National, IDF, of Health, Israeli, Reuters Israeli, Getty, Palestinian Authority, UN Relief and Works Agency Locations: Gaza, Israel, Tel Aviv, Netanyahu’s, Jerusalem, Netanyahu's, Abir Sultan, AFP, United States, Palestine

☆ South African foreign minister discusses Hague case against Israel
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth African foreign minister discusses Hague case against IsraelSouth Africa's Finance Minister Enoch Godongwana tells CNBC's Steve Sedgwick there is support for the view that the case brought against Israel in the Hague is substantive.

Persons: Enoch Godongwana, Steve Sedgwick Organizations: Israel South Africa's Finance, Israel Locations: Hague

☆ South Africa's genocide case against Israel has 'global support,' finance minister says
▼ + stars: | 2024-01-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

South Africa's legal case accusing Israel of committing genocide against Palestinians in Gaza has "global support," the country's Finance Minister Enoch Godongwana told CNBC Monday. A two-day hearing last week at the International Court of Justice in the Hague, Netherlands, saw South African lawyers lay out arguments alleging that Israel's bombardment of Gaza that has caused massive casualties was tantamount to genocide. "Supporters of Israel of course, including the U.K., will say our application is nonsense but there is global support for our view that in fact, our case was substantive and we have argued our case." Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan and Malaysia are among the states that have publicly supported South Africa's application, along with the Organization of Islamic Cooperation. The Saudi-based organization consists of 57 member states, 48 of which are Muslim-majority countries.

Persons: Ronald Lamola, Israel, Enoch Godongwana, Godongwana Organizations: International Court of Justice, country's Finance, CNBC, South, United, Economic, Organization of Islamic Cooperation Locations: Africa's, South Africa, Israel, Gaza, The Hague, Netherlands, Hague, Africa, United Nations, Davos, Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan, Malaysia, Saudi

☆ Tractors Converge on Berlin for Farmers' Protest
▼ + stars: | 2024-01-14 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - Farmers and their tractors rumbled towards Berlin from every corner of Germany on Sunday ahead of a giant protest demanding a rethink of plans to tax farmers more. But farmers, with the vocal backing of the opposition conservatives and the far-right, say this does not go far enough. "Farmers will die out," said farmer Karl-Wilhelm Kempner on Sunday as he boarded a bus in Cologne heading for the demonstration. Finance Minister Christian Lindner will address the protest and coalition party leaders have invited leaders of the demonstrations for talks. Disruption caused by protests and train strikes last week hurt coalition parties in the polls and propelled the far-right Alternative for Germany party to new heights.

Persons: Chancellor Olaf Scholz's, Karl, Wilhelm Kempner, Christian Lindner, Scholz, We've, Thomas Escritt, Ros Russell Organizations: BERLIN, Farmers, Finance Locations: Berlin, Germany, Berlin's, Cologne

☆ UK inches closer to technical recession as growth is revised down
▼ + stars: | 2023-12-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Data due out in February will show whether the U.K. has entered a technical recession — defined as when the economy shrinks for two consecutive quarters. There was also zero growth in the prior three months, the new figures showed, down from the 0.2% growth previously calculated. LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter. Certainly, Rishi Sunak's pledge to grow the economy is now severely in doubt," he said. A near-term drop in interest rates would be a win for Sunak's government, as the U.K. enters an election year.

Persons: Jeremy Hunt, Richard Carter, Cheviot, Rishi Sunak's, Rishi Sunak, Downing, Andrew Bailey Organizations: Office, National Statistics, LONDON, Bank of England

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