Israel Financial News

By David Shepardson and Maria Martinez

What a day for the United Nations. Its International Court of Justice (ICJ) issued a preliminary ruling Friday in South Africa’s case against Israel that managed to be both outrageous and meaningless. At the same time, its special forever-refugee agency for the Palestinians, Unrwa, had to fire staff accused of involvement in Hamas’s Oct.

Arab League and the Organisation of the Islamic Conference in Saudi Arabia on November 11th, for instance, called for the former. Two days later the 27 member states of the European Union reiterated their support for the latter. America will also only support pauses, as will the G7 group of rich countries.

Oil prices edged slightly higher in choppy trading on Friday, heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand expectations, while Middle East supply concerns added further support. Brent crude futures were up 53 cents, or 0.7%, at $82.93 a barrel by 1:48 p.m. ET (1848 GMT), and touched $83.57, their highest price since November.

The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal

Narendra Modi and French President Emmanuel Macron expressed «grave concerns» at the possibility of further expansion of the conflict in the Middle-East, including in the Red Sea. A joint statement issued late on Friday night said the two leaders called for upholding the freedom of navigation in the Red Sea and underlined the need for respecting the international law of the sea. Modi and Macron held wide-ranging talks at a luxury palace on Thursday.

The United Nations agency charged with delivering aid to Palestinians has fired staff members accused of being involved in the Oct. 7 attacks against Israel, in which 1,200 people were killed.

Benjamin Netanyahu said Israel was committed to international law after the World Court ordered it to take action to prevent acts of genocide in its war in Gaza, but he reiterated that it had a right to defend itself. Responding to a case brought by South Africa, Netanhayu said the charge of genocide was «outrageous».

By Alex Lawler

Hague are set to announce their decision on Friday regarding a potential order for Israel to halt its military operations in Gaza. As reported by Reuters, diplomatic efforts are actively underway to negotiate a renewed agreement for a ceasefire and the release of additional Israeli hostages. On the ground in Gaza, local officials reported on Thursday that Israeli airstrikes resulted in the deaths of 20 Palestinians who were waiting for food aid in Gaza City.

Investing.com — Oil prices settled at eight-week highs on Thursday as stronger U.S. economic data eased worries about slowing global growth, boosting the demand outlook just a day after China rolled out monetary policy stimulus to prop up its economy.

BAGHDAD (Reuters) — An explosive drone struck Khor Mor gas field in the Sulaimaniya region of northern Iraq on Thursday, two sources told Reuters, adding the explosion had caused limited damage but no one had been injured.

The European Central Bank has kept its key interest rate unchanged at a record high

₹6,359 per bbl, having swung between ₹6,208 and ₹6,378 per bbl during the session, against a previous close of ₹6,253 per barrel. Also Read:India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC -The US crude stockpiles tumbled by 9.2 million barrels last week, said the Energy Information Administration (EIA). The draw was driven by a stark drop in US crude imports as winter weather shut in refineries and kept motorists off the road.

Indian industry, including exporters on Thursday, asked the government to provide tax incentives for research and more funds for marketing activities in the Budget to boost manufacturing and the country's outbound shipments. They also urged the government to consider developing a global shipping line in partnership with the private sector. India's outward remittance on transport services is increasing with rising exports. «We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030,» Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines. This will also reduce arm-twisting by foreign shipping lines, particularly of our MSMEs, the organisation said.

Yogi Adityanath-led Uttar Pradesh Government has begin a one-week recruitment drive at the Industrial Training Institute (ITI) in Aliganj. Israel plans to recruit tens of thousands of Indians at a time when Palestinians who have long played a crucial role in Israeli construction and other sectors are being barred from the country.

Despite facing tough competition from Advanced Micro Devices (NASDAQ:AMD) and Nvidia (NASDAQ:NVDA), Intel's (NASDAQ:INTC) stock has gained over 60% in the past 12 months.

Officials say that two U.S.-flagged ships carrying cargo for the Defense and State departments have come under attack off Yemen

China, the world's biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal

JERUSALEM (Reuters) -Billionaire hedge fund manager Bill Ackman and his Israeli-born wife, Neri Oxman, spent $25 million for an equity stake of around 4.9% in the Tel Aviv Stock Exchange (TASE), the Israeli bourse said on Wednesday.

New Delhi: UN General Assembly president Dennis Francis warned that the Red Sea conflict could trigger another World War, and buttressed the need to reform the Security Council. Francis told reporters in New Delhi on Wednesday the possibility of escalation and regionalization of the conflict in the Red Sea had created a dangerous situation. “That is an extremely disturbing situation.