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☆ Hamas leader Sinwar wants a ceasefire deal, mediators say, but Netanyahu’s stance unclear
▼ + stars: | 2024-08-11 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +5 min

“Nobody knows what Bibi wants,” one Israeli source said, referring to Netanyahu by his nickname. The Hostage and Missing Families Forum, a powerful voice in Israel, has also called on Israel and Hamas to finalize a hostage and ceasefire deal. At the same time, Netanyahu’s coalition partners have made it clear they do not want Israel to strike a deal with Hamas. Israeli Finance Minister Bezalel Smotrich called the proposed ceasefire deal a “surrender deal” on Friday. But negotiations are already underway with technical delegations working “around the clock” through key details ahead of Thursday’s meeting, the Israeli source said.

Persons: Yahya Sinwar, “, Bibi, Netanyahu, Bezalel Smotrich, ”, John Kirby, Smotrich’s, Itamar Ben Gvir, Fu’ad Shukr, Ismail Haniyeh, Sinwar, Haniyeh, Israel, Kamala Harris Organizations: CNN, Israeli, House, Smotrich, National Security, Hamas, Iranian Revolutionary Guards, Democratic Locations: United States, Israel, Cairo, Doha, Lebanon, Iran, Lebanese, Tehran, Gaza

“Some critics, like Mr. Smotrich, for example, have claimed that the hostage deal is a surrender to Hamas or that hostages should not be exchanged for prisoners,” Mr. Kirby said at the start of a briefing for reporters. Mr. Smotrich and Itamar Ben-Gvir, the national security minister and a far-right ally, have threatened to quit Mr. Netanyahu’s coalition if he signs a deal ending the war. But whether it could help Mr. Netanyahu to have the Americans weigh in on his domestic politics was not as clear. “The idea that he would support a deal that leaves Israel’s security at risk is just factually wrong,” Mr. Kirby said of the president. “He won’t allow extremists to blow things off course — including extremists in Israel making these ridiculous charges against the deal,” he said.

Persons: ”, Biden’s, John F, Kirby, Biden, Bezalel Smotrich, Smotrich, Mr, “ Smotrich, Benjamin Netanyahu, Israel, ” Mr, Itamar Ben, Gvir, Biden administration’s pushback, Netanyahu, “, he’s Organizations: White, Hamas, ISIS Locations: U.S, Israel, Egypt, Qatar, Iran

☆ UK riots: Rotherham residents despair after riot at hotel housing asylum seekers
▼ + stars: | 2024-08-06 | by ( Christian Edwards | ) edition.cnn.com time to read: +12 min

Ninzr said he had lived in the Rotherham hotel since he arrived, but was at another processing center when the riot broke out. Several passers-by referenced unfounded rumors that hotel residents have abused local women. CNN asked South Yorkshire police if they have received complaints about the behavior of the hotel residents, but have not yet received a response. With more demonstrations planned for this week, do the residents near the Rotherham hotel fear more violence? “After seeing our community come out today, no,” said the man who lived through the London riots.

Persons: “, ”, –, Keir Starmer, Starmer, ’, Conservative government’s, Ninzr, Danny Lawson, I’ve, Rachel Reeves, They’ve, they’ve, They’d, they’re, she’d, “ I’ve, Elliott Nuttall, ‘, you’re, CNN Ibrar, Javid, Henry Nicholls Organizations: Rotherham, England CNN, CNN, Reuters, AFP, Conservative, South, South Yorkshire police, Facebook, Stringer, National, Mosque, Downing, Southport, Police, Labour, PA Media Locations: England, Rotherham, British, London, Southport, Afghanistan, Herod, France, Rwanda, Birmingham, Rotherham , South Yorkshire, South Yorkshire, Sheffield

☆ Israeli minister says it may be ‘moral’ to starve 2 million Gazans, but ‘no one in the world would let us’
▼ + stars: | 2024-08-06 | by ( Dana Karni | ) edition.cnn.com time to read: +3 min

It’s his (Hamas’) money, it’s his fuel, it’s his civilian control of the Gaza Strip. Israel has control over aid that enters Gaza and aid groups are in charge of distributing it. While there have been some anecdotal reports from Gazans of Hamas stealing aid, it’s unclear how rampant it is. The conflict began after Hamas attacked Israel on October 7, killing around 1,200 people and taking more than 250 hostages, according to Israeli authorities. No need to unclog sewers, no need for education, no need for welfare.

Persons: Bezalel Smotrich, Yad Binyamin, ”, Israel, David Satterfield, Biden, Benjamin Netanyahu, Yoav Gallant, Netanyahu, ” Israel, Smotrich Organizations: Jerusalem CNN — Israeli, Katif Conference, National, Israeli Locations: Jerusalem, Gaza, Yad, Israel, Gazans

☆ U.S. recession fears spark selloff in international markets
▼ + stars: | 2024-08-05 | by ( David Hodari | David Hodari Is A London-Based Editor. | ) www.nbcnews.com time to read: +2 min

LONDON — U.S. stocks are on course to open in the red Monday, with Japanese stocks suffering their worst day of trading since the 1980s and a global equities sell-off intensifying over fears of a U.S. economic slowdown. The Nikkei’s 12.4% fall marked the worst day for the Japanese index since 1987’s “Black Monday” — the sudden and unexpected stock market crash that raised fears of a depression. Noriko Hayashi / Bloomberg via Getty ImagesIn recent weeks, rising concerns around a potential U.S. recession have spooked investors. A rise in the value of the Japanese yen against the U.S. dollar — making Japanese assets more expensive for holders of other currencies — has also likely played a role in the selling. Even so, some investors put their money into U.S. Treasury bonds — so-called ‘haven’ assets that act as stores of wealth in volatile moments.

Persons: Noriko Hayashi, Japan’s, Shunichi Suzuki, “, ” Suzuki, ” Organizations: LONDON, Dow Jones, Nasdaq, Tokyo Stock Exchange, Bloomberg, Getty, Federal Reserve, Labor, U.S ., Treasury Locations: U.S, Europe

☆ Britain cancels $1.7 billion of computing projects in setback for global AI ambitions
▼ + stars: | 2024-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

(Photo by Rasid Necati Aslim/Anadolu via Getty Images)The U.K. government has canceled £1.3 billion ($1.7 billion) worth of computing infrastructure projects, in a big setback to the country's ambitions to become a world leader in artificial intelligence. A government spokesperson confirmed to CNBC that two major taxpayer-funded spending commitments, worth £500 million and £800 million, respectively, were being dropped in order to prioritize other fiscal plans. Earlier this week, British Finance Minister Rachel Reeves announced a raft of spending cuts after revealing Labour had inherited a projected £22 billion ($28 billion) of unfunded pledges from the center-right Conservatives. The Labour government was widely expected to announce the introduction of the first-ever U.K. AI Bill in a speech delivered by King Charles III last month. A DSIT spokesperson instead told CNBC the government would consult on plans to regulate AI in due course.

Persons: Rasid Necati, Rishi Sunak's, Rachel Reeves, unfunded, codebreakers, Keir Starmer's, King Charles III Organizations: Artificial Intelligence, Getty, CNBC, Research, University of Edinburgh, Labour, Department for Science, Innovation, Technology, British Locations: London, United Kingdom, Anadolu, Bletchley, Nazi Germany

☆ 'Internal battle' in Modi's BJP on whether India needs Chinese investments, Natixis chief Asia economist says
▼ + stars: | 2024-08-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +5 min

Supporters of Bharatiya Janata Party (BJP) hold party flags as they celebrate Narendra Modi's swearing-in ceremony on June 9, 2024. Sopa Images | Lightrocket | Getty ImagesThere is an "internal battle" happening within India's ruling Bharatiya Janata Party over inviting Chinese investments, as the country strives to become Asia's manufacturing powerhouse, Alicia Garcia-Herrero, chief Asia Pacific economist at Natixis said. This proposal was shot down by Trade Minister Piyush Goyal on Tuesday who said that there was "no rethinking at present" on allowing Chinese investments into India, Reuters reported. Experts told CNBC that Chinese investments are needed in India's solar panel and battery manufacturing sectors — two areas that a report, citing Indian government sources last week, mentioned could see easing restrictions on Chinese investments. India increased scrutiny on Chinese investments into the country, and also blocked several Chinese mobile apps including TikTok following the incident.

Persons: Narendra Modi's, Alicia Garcia, Herrero, Natixis, V Anantha, Piyush Goyal, Modi, Garcia, Rajesh Kumar Singh, Harsh, Pant, Tauseef Mustafa, Jaishankar, Punit Paranjpe Organizations: Bharatiya Janata Party, BJP, Asia, Trade, Reuters, CNBC, Department, Promotion of Industry, Internal, Bloomberg, ICT, Communication Technologies, New Delhi's Observer Research Foundation, Afp, Getty, India's Foreign, Adani Locations: Asia Pacific, China, India, Europe, loggerheads, Eastern Ladakh, Tokyo, U.S, Mundra

☆ Japan's new currency diplomat keeps intervention on table to stabilize yen
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +1 min

Japan will retain its basic approach on the yen with intervention remaining an option to tackle excessively volatile moves in the exchange rate, the country's new top currency diplomat Atsushi Mimura told Reuters. "It has been internationally agreed that measures including interventions are allowed when necessary," he added. Previously head of the ministry's international bureau, the 57-year-old became vice finance minister for international affairs on Wednesday — a post that oversees Japan's currency policy and coordinates economic policy with other countries. Mimura's appointment comes as the Japanese currency shows tentative signs of recovery from 38-year lows, as investors unwound their long-running bets against the currency ahead of a Bank of Japan meeting this week. While a weak yen gives exports a boost, it has become a source of concern for policymakers by pushing up the cost of imports and hurting consumption.

Persons: Atsushi Mimura, Mimura Organizations: Reuters, Bank of Japan Locations: Japan

☆ UK finance chief says public finances show $28 billion spending hole, cuts road and rail projects
▼ + stars: | 2024-07-29 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability. Britain's Finance Minister Rachel Reeves on Monday announced a raft of project cuts after detailing how the newly elected Labour government has inherited a projected overspend of £22 billion ($28.2 billion) from the center-right Conservatives. The finance minister also said she had canceled plans to sell NatWest shares to the public, saying the proposal put forward by her predecessor Jeremy Hunt did not "represent value for money." Britain's finance chief has previously ruled out increases to income tax, national insurance, VAT or corporation tax — the main sources of government revenues. However, Reeves must orchestrate a delicate balance act given the pledges from her party to also boost national investment and public sector pay.

Persons: Rachel Reeves, Reeves, Boris Johnson, Jeremy Hunt Organizations: Britain's, Monday, Labour, Railways Fund, Conservative, NatWest

☆ Sde Teiman: Lawmakers breach Israeli detention base protesting abuse probe
▼ + stars: | 2024-07-29 | by ( Rob Picheta | ) edition.cnn.com time to read: +5 min

CNN —Far-right lawmakers and protesters breached the perimeter of a controversial Israeli detention facility for Palestinians on Monday, after the Israeli military confirmed it was investigating soldiers over the alleged abuse of a prisoner. Israeli Prime Minister Benjamin Netanyahu called for immediate calm at Sde Teiman and condemned the break-in at the base in a statement on Monday. Last month, Halevi said the military had launched a probe into allegations of mistreatment at Sde Teiman, as well as at Anatot and Ofer. As part of CNN’s investigation into Sde Teiman, three Israeli whistleblowers said that Palestinian detainees at the base were constantly blindfolded and held under extreme physical restraint. The account tallied with details of a letter authored by a doctor working at Sde Teiman published by Ha’aretz in April.

Persons: Zvi, Herzi Halevi, Yair Lapid, ”, Isaac Herzog, Teiman, Bezalel Smotrich, Benjamin Netanyahu, Netanyahu, Israel’s, Sde, Ofer, Halevi, Sde Teiman, Ha’aretz Organizations: CNN, Israel Defense Forces, Military Police, Investigation, General Staff, Zionism, West Bank, IDF Locations: Gaza, Israel, ”

☆ UK finance minister: Growing the economy is our number one priority
▼ + stars: | 2024-07-29 | 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 EmailUK finance minister: Growing the economy is our number one priorityU.K. Finance Minister Rachel Reeves pledges to provide businesses with more certainty as the new government makes economic growth its "number one priority."

Persons: Rachel Reeves Organizations: Finance

CNN —Vice President Kamala Harris’ office on Friday is rejecting a suggestion from a senior Israeli official that the vice president’s remarks on Thursday that forcefully criticized Israel’s conduct in its war against Hamas could have made a ceasefire deal harder to reach. But the vice president’s office on Friday sought to clarify that her message to Netanyahu behind closed doors mirrored that of Biden. For example, Harris’s aides have been advocates for sanctions on violent Israeli settlers in the West Bank, one source said. “Harris and her office threw us a lifeline early on,” Dr. James Zogby, president of the Arab American Institute. She wanted to know what she could do to be responsive to our concerns.”Correction: This story has been updated to correct Kamala Harris' party affiliation.

Persons: Kamala Harris, Israel’s, ”, Harris, ” Harris, Netanyahu, Biden, “, Harris’s, Bezalel Smotrich, Itamar Ben Gvir –, “ She’s, Harris ’, “ Harris, Dr, James Zogby, CNN’s Tim Lister, Tamar Michaelis Organizations: CNN, The, Democratic, Israel, West Bank, National Security, Biden, Arab American Institute Locations: The Times, Israel, Gaza

☆ This will be the most pro-business Treasury Britain has ever seen: UK Finance Minister Rachel Reeves
▼ + stars: | 2024-07-26 | 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 EmailThis will be the most pro-business Treasury Britain has ever seen: UK Finance Minister Rachel ReevesRachel Reeves, Britain's finance minister under the new Labour government, discusses growth plans for the economy.

Persons: Rachel Reeves Rachel Reeves Organizations: Treasury Britain, UK, Labour

☆ UK Finance Minister Rachel Reeves pledges most 'pro-growth, pro-business' government the country has seen
▼ + stars: | 2024-07-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

"I will work with business to make sure we're doing all we can to bring wealth creation, to bring business investment to the U.K. economy," she added. "This is going to be the most pro-growth, pro-business Treasury that this country has ever seen," Reeves told CNBC's Steve Sedgwick via remote interview. LONDON — U.K. Finance Minister Rachel Reeves said Friday that the new Labour government would be the most pro-growth and pro-business the country has seen. We need to attract business investment to be able to do that." However, the chancellor has a fine balance to tread given pledges from her party to also boost national investment and public sector pay.

Persons: Reeves, CNBC's Steve Sedgwick, Rachel Reeves, I'm, Keir Starmer, Starmer Organizations: Treasury, CNBC, LONDON, Finance, Labour, Conservative Locations: Rio de Janeiro, Brazil, Britain

☆ CNBC's Inside India newsletter: The tax with potential side effects
▼ + stars: | 2024-07-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Despite its progressive intentions, the tax failed to raise sufficient revenue for the monarch, as people boarded up their windows to lower their tax liability. Window tax was a property tax based on the number of windows in a house. In addition, the minister also lifted capital gains for stock market investors who cash in within a year from 15% to 20%. While the tax raises more than £3 billion ($3.9 billion) annually, it has given birth to far riskier forms of speculation while simultaneously hurting the stock market. However, given the lofty valuations that Indian stock markets currently trade, the tax to skim the excesses might be a positive development over the longer term.

Persons: Nirmala Sitharaman, Ajay Aggarwal, King William III of, Mike Kemp, Upasana Chachra, Morgan Stanley, Siddhartha Khemka, Motilal Oswal, Michael Langham, Abrdn, it's, JPMorgan's Jahangir Aziz, Aziz, Raghuram Rajan, Suman Bery, Bery Organizations: Union Finance, Budget Press Conference, National Media Centre, Hindustan Times, Getty Images, Getty, Budget, Motilal, Institute for Fiscal Studies, Reuters, CNBC, Health, Reserve Bank of India Locations: DELHI, INDIA, New Delhi, India, Mayfair, London, United Kingdom, England, Britain, Kerala, Malaysia, Nipah

☆ Wealth of global top 1% grew by $42 trillion over past decade: Oxfam
▼ + stars: | 2024-07-25 | by ( Tami Luhby | ) edition.cnn.com time to read: +2 min

CNN —The last decade has been very lucrative for the world’s super-rich residents, fueling the drive by some advocates to tax them more. The top 1% has seen its wealth soar by $42 trillion over the past decade, according to a new analysis by Oxfam International, which is being released ahead of the G20 finance ministers and central bank governors’ meeting in Brazil. “The richest one percent of humanity continues to fill their pockets while the rest are left to scrap for crumbs.”Oxfam regularly issues reports highlighting global inequality and pushes for changes to start evening the playing field. “Momentum to increase taxes on the super-rich is undeniable, and this week is the first real litmus test for G20 governments. Finance officials from the world’s biggest countries began talks earlier this year on introducing a global minimum tax on billionaires.

Persons: That’s, ”, Max Lawson, Gabriel Zucman, ” Lawson Organizations: CNN, Oxfam International, Oxfam International’s, Oxfam, EU, Observatory, Zucman, Finance Locations: Brazil

☆ Benjamin Netanyahu Congress: Families of hostages held in Gaza slam Israeli PM for leaving ceasefire deal out of speech
▼ + stars: | 2024-07-25 | by ( Christian Edwards | ) edition.cnn.com time to read: +6 min

CNN —Families of hostages held captive in Gaza condemned Benjamin Netanyahu’s speech to the United States Congress, as pressure grows on the Israeli prime minister to agree to a deal to secure their release. Rather than mentioning a deal, a bellicose Netanyahu told Congress: “The war in Gaza could end tomorrow if Hamas surrenders, disarms and returns all the hostages. Families of Israeli hostages demonstrate ahead of Netanyahu's address to Congress, at the National Mall in Washington, DC, July 23, 2024. An hour of talking without saying the one sentence: ‘There will be a kidnapping deal.’”But Netanyahu’s speech was lauded by members of his government. Anna Moneymaker/Getty ImagesDemocratic Rep. Rashida Tlaib, the lone Palestinian-American congresswoman, held up a black-and-white sign during Netanyahu’s speech.

Persons: Benjamin Netanyahu’s, “, ’, Netanyahu, bellicose Netanyahu, ”, Noam Peri, Chaim Peri, it’s, Craig Hudson, Yair Lapid, Israel Katz, ” Bezalel Smotrich, Ravid Katz, Kiril Brodski, Tomer Ahimas, Oren Goldin, Maya Goren, Younis, Biden, Tomer Yaakov Ahimas, Khan Younis, Kizan Al, Kamala Harris, Joe Biden, Harris, Nancy Pelosi, Israel, Rashida Tlaib, Anna Moneymaker, Steny Hoyer, Tlaib, Sen, Chuck Schumer, Mark Kelly Organizations: CNN, United States Congress, Labor, Foreign, Religious Zionist Party, Jewish, Israel Defense Forces, Families, United Nations, Getty, Democratic, Democrats Locations: Gaza, Israel, Tel Aviv, Washington , DC, Israeli, Kizan, Kizan Al Najar, Indiana, United States, Palestinian

☆ Yen rises as carry trades unwind, risk sentiment takes a hit
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +2 min

The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen trade...you've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.

Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down

☆ Russia's war-driven economic growth is a mirage, and more sanctions are needed to keep pressure on, European finance ministers say
▼ + stars: | 2024-07-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Sanctions are instead straining Russia, and could do more if the West is patient enough, a group of eight European finance ministers jointly argued in The Guardian. Large financial stimulus is the chief tailwind keeping Russia resistant, but the ministers noted that isn't an endless pillar of support. The eight ministers argued that these conditions make Western sanctions more important than ever, adding that pressure should be cranked up on Russia. They noted that if the West is patient enough, Russia's confidence will eventually slump as long-term damage takes hold.

Persons: — Organizations: Service, Guardian, Business, Kremlin Locations: Moscow, Russia, Ukraine, Sweden, Poland, Netherlands, Soviet Union, Belarus, Asia

☆ India 'clearly has a problem' finding new drivers for economic growth, JPMorgan's Jahangir Aziz says
▼ + stars: | 2024-07-24 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Tim Graham | Getty ImagesIndia "clearly has a problem" figuring out new drivers for its economic growth even as its economy expands at a fast pace, JPMorgan's Jahangir Aziz said, following the country's union budget. "If you look at India over the last two years post the pandemic, recorded growth has been strong. But if you look at the drivers of growth, it's essentially these two: Public infrastructure and services export," Aziz, chief emerging markets economist at JPM, told CNBC's "Street Signs Asia" on Tuesday. According to estimates by the Ministry of Commerce and Industry, India's services exports will likely hit $30.3 billion in June, compared with $27.8 billion in the same month last year. According to the International Monetary Fund's latest World Economic Outlook, the country's growth is predicted to decline to 6.5% in 2025.

Persons: Tim Graham, JPMorgan's Jahangir Aziz, Aziz, CNBC's, V Anantha Nageswaran, Raghuram Rajan Organizations: Getty, Ministry of Commerce and Industry, Services, Reserve Bank, India's, International Monetary, University of Chicago Booth School, Reserve Bank of India Locations: Tardeo South Mumbai, India

☆ Modi's government pledges fiscal prudence in India's post-election budget
▼ + stars: | 2024-07-23 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

Nirmala Sitharaman, India's finance minister, leaves the ministry to present the budget at the parliament in New Delhi, India, on July 23, 2024. India's finance ministry on Tuesday lowered the country's fiscal deficit target to 4.9% for the financial year ending March 2025, a revision from 5.1% during the pre-election interim budget published back in February. That target will then fall to 4.5% or lower for the financial year ending March 2026, India's Finance Minister Nirmala Sitharaman said during the announcements. "This is imperative for attracting foreign investment and sustaining growth," he said, adding that "unprecedented financial support" from the central bank will make the fiscal deficit target possible. "We will endeavor to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation."

Persons: Nirmala Sitharaman, Vipul Bhowar, Narendra Modi's, Sitharaman, Hajra, Anand Rathi, Modi's Organizations: Bloomberg, Getty, India's, Waterfield Advisors, Sitharaman, Narendra Modi's Bharatiya Janata Party, Stock Brokers, CNBC, Modi's Bharatiya Janata Party, Centre, Monitoring, BSE, U.S . Locations: New Delhi, India, Mumbai, Bihar, Andhra Pradesh

☆ Top UN court says Israeli occupation of West Bank and East Jerusalem is illegal
▼ + stars: | 2024-07-19 | by ( Nadeen Ebrahim | Mitchell Mccluskey | ) edition.cnn.com time to read: +6 min

CNN —The United Nations’ top court said Friday that Israel’s presence in the West Bank and East Jerusalem is illegal, in an unprecedented opinion that called on Israel to end its decades-long occupation of territories claimed by Palestinians for a future state. The Palestinians want the West Bank and Gaza for a future state, with East Jerusalem at its capital. ‘False decision’Israeli Prime Minister Benjamin Netanyahu and other politicians rejected the ICJ opinion. “The answer to The Hague – sovereignty now,” Smotrich said on X, a call for Israel to annex the West Bank. The ICJ in 2004 delivered an advisory opinion on the Israeli separation barrier around the majority of the West Bank, urging Israel to remove it from occupied land.

Persons: Judge Nawaf Salam, ”, “, Israel, –, Benjamin Netanyahu, ” Netanyahu, Israel Katz, Bezalel Smotrich, ” Smotrich, Eliav, ” Lieblich Organizations: CNN, United Nations ’, West Bank, Court of Justice, East Jerusalem, United Nations, UN, Assembly, Hamas, ”, Palestinian Authority, Tel Aviv University Locations: East Jerusalem, Israel, Palestinian Territory, Palestinian, The Hague, Netherlands, Jerusalem, Gaza, East, ”, United, of Israel, South Africa, Hague, Palestine

☆ Germany's plan to halve military aid to Ukraine is a gift to Trump, expert says
▼ + stars: | 2024-07-19 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read previewA draft budget approved by Germany's government shows the country is planning to halve its military aid to Ukraine next year. The draft budget slashes the amount promised to Ukraine to $4.35 billion in 2025, compared to the roughly $8.14 billion it is receiving this year, Reuters reported. There are fears that Trump will scale back or even totally halt US aid to Ukraine. Germany is the second-biggest donor country by volume of military aid to Ukraine and is Europe's biggest economy. As such, the draft budget is a "moral hazard" for the country, Loss said.

Persons: —, Christian Lindner, Lindner, Rafael Loss, Donald Trump, Mary, Trump, he's, MAGA, JD Vance, there's, Olaf Scholz, Scholz Organizations: Service, Reuters, German, Business, European Council, Foreign Relations, Ukraine, Politico, Trump Loss, NATO Locations: Ukraine, Germany, Berlin, Europe

☆ Germany to slash military aid budget in blow to Ukraine
▼ + stars: | 2024-07-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Around 5.4 billion euros had been allocated to the fund in 2023, the budget outline shows. In recent years, large amounts of this section of the German budget has been allocated to support Ukraine following Russia's attack of the country. It also noted that Germany would continue to support Ukraine for as long as needed, in collaboration with its allies. The government had planned to re-allocate unused emergency debt, which was taken on during the Covid-19 pandemic, to its future spending plans. The German parliament will debate the draft budget when it returns from its summer break in September before it is finalized later in the year.

Persons: Christian Lindner, Donald Trump's, Sen, JD Vance, Olaf Scholz Organizations: Ukraine, CNBC, Reuters, Trump, Trump's, Military, NATO Locations: Germany, Ukraine, Russia

☆ CNBC's Inside India newsletter: How will India spend its billions?
▼ + stars: | 2024-07-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

New Delhi, India – February 01: Finance minister, Nirmala Sitharaman, outside Finance Ministry on the Budget Day, with other members of Finance Ministry in New Delhi on February 01, 2024. (Photo by Hardik Chhabra/ The India Today Group via Getty Images)This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. There are high expectations for a "populist" budget since the recent general election results delivered a slimmer than expected win for Modi. The demands from the various members of the fragile alliance could mean the government opens the taps on welfare spending. Bank of America analysts, who are also open to the idea that the deficit may fall, believe it is "refreshing" to see a finance minister "under-promise, over-deliver."

Persons: Nirmala Sitharaman, Hardik Chhabra, Narendra Modi's, Premal Kamdar, Modi, Goldman Sachs, Santanu Sengupta, Sengupta, It's, Goldman, Staples, Adity Suresh, Aastha Gudwani Organizations: Finance, Finance Ministry, India Today, Getty, BJP, Modi, UBS Wealth Management, Bank of America, Reserve Bank of India, UBS, Kamdar, Columbia India Consumer ETF, Hindustan Unilever, Unilever, " Bank of America's, Central Public Sector Enterprises Locations: Delhi, India, New Delhi, Bihar, Hindustan, " Bank of America's India

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