Israel Financial News

crown prince and president of the United Arab Emirates met on Friday, state media reported, as the two Gulf states worked to overcome their differences amid a conflict between Israel and Hamas that threatens to engulf the Middle East. Saudi state news agency SPA showed footage of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, receiving UAE President Mohammed bin Zayed Al Nahyan at Riyadh's airport. Public meetings between the crown prince and Sheikh Mohammed have been rare in recent years as the close allies competed for investment and regional influence.

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The photo posted by the White House on its official Instagram account had President Biden with a member of the Army's elite counter-terrorism unit. However, in the same photo, the faces of three other Delta Force fighters were also visible in the image.

Israel’s defense minister said Friday that after the country destroys the Hamas militant group, the military does not plan to control “life in the Gaza Strip” Defense Minister Yoav Gallant’s comments to lawmakers were the first time an Israeli leader discussed its long-term plans for Gaza. Gallant said Israel expected there to be three phases to its war with Hamas. He said it first would attack the group in Gaza with airstrikes and ground maneuvers, then it would defeat pockets of resistance and finally it would cease its “responsibility for life in the Gaza Strip.” Israel bombarded the Gaza Strip early Friday, hitting areas where Palestinians had been told to seek safety, and it began evacuating a sizable Israeli town near the border with Lebanon, the latest sign of a potential ground invasion of Gaza that could trigger regional turmoil. Palestinians in Gaza reported heavy airstrikes in Khan Youni, a town in the territory's south, and ambulances carrying men, women and children streamed into the local Nasser Hospital.

U.S. President Joe Biden made the case directly to the American people Thursday that the country has a “vital” national security obligation to help Israel and Ukraine, which will require billions of dollars of military aid.

War in the Middle East could cause the oil price to surge to $140 a barrel and bring the world to the brink of a recession, according to Ana Boata, head of economic research at Allianz Trade.

The Biden administration has designated crypto "mixers" as primary money-laundering hubs.

CSB Bank on Friday reported a 10% rise in net profit at Rs 133 crore for the September quarter against Rs 121 crore in the year ago period. The bank recorded its net interest margin for the quarter 76 basis points lower at at 4.84% because of rise in cost of funds. «I think NIM has bottomed out and will be around 5% for the next few quarters. Cost of fund should sustain at current level,» managing director Pralay Mondal told ET. The bank's average cost of deposits stood at 5.22% for the quarter. «We are now taking strides in strengthening the building blocks that will help us in becoming a truly full service franchise.

Investing.com — U.S. Treasury yields soar to the highest levels since the financial crisis after a speech by Fed chair Jerome Powell, dragging stocks lower. Crude rises as the U.S. looks to refill its strategic reserves, while U.K. retail sales slumped in September.

World shares have retreated as the prospect of a 5% yield on the 10-year U.S. Treasury for the first time since 2007 added to pressure on Wall Street

Hamas organisation have behaved like 'animals' and emphasised that his country will target Hamas like 'human animals' during and after the war. «You don't need justification to fight against an organization like Hamas that have behaved like animals hunting other animals. It's not going to be to be stopped and we are not going to take it as something that was done, and that's it.

Israeli police, telling AFP on Friday that it had made a «moral decision» in light of the war in Gaza. Maryan Apparel in the southern state of Kerala said it had supplied around 100,000 uniforms to Israel's police force for every year since 2015. «It is a moral decision,» the company's managing director Thomas Olickal told AFP. Olickal said in a Wednesday statement that a strike on a hospital and the «loss of thousands of innocent lives» in the conflict had prompted the decision. Israelis and Palestinians have traded blame for Tuesday's deadly strike on the Ahli Arab hospital in Gaza City. Global leaders have condemned the strike and protests have erupted across the Muslim world with stark disagreement over the toll and who is responsible. Palestinian Islamist militant group Hamas accused Israel of hitting the hospital during its massive bombing campaign, and the Hamas-run health ministry in Gaza has put the death toll at 471, though that number is contested. Israel's military has blamed a misfired rocket on another group, Islamic Jihad — a version of events backed by the United States, whose intelligence community has estimated between 100 and 300 people were killed. Hamas militants stormed into Israel from the Gaza Strip on October 7, and killed at least 1,400 people, mostly civilians who were shot, mutilated or burnt to death on the first day of the raid, according to Israeli officials.

Joe Biden said on Friday that both Russian President Vladimir Putin and Hamas wanted to completely «annihilate» their neighbouring democracies. «We've not forgotten the mass graves, the bodies found bearing signs of torture, rape used as a weapon by the Russians, and thousands and thousands of Ukrainian children forcibly taken into Russia, stolen from their parents. It's sick.

Israel Thursday and American bases in Iraq and Syria were repeatedly targeted by drone attacks.The USS Carney, a Navy destroyer in the northern Red Sea, intercepted three land attack cruise missiles and several drones that were launched by Houthi forces in Yemen. The action by the Carney potentially represented the first shots by the U.S. military in the defense of Israel in this conflict.Brig.

Hamas’s attack on Israel should be a wake-up call to U.S. intelligence services. That a terrorist attack of this magnitude—with seismic implications for global security—came as a surprise to many in Washington shows that we need to reassess our own operations sharply to ensure that America has a comprehensive threat picture that can provide early warnings and prevent national-security tragedies.

Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and raise prices

Investing.com-- Gold prices rose to a three-month high on Friday amid persistent safe haven demand on concerns over the Israel-Hamas war, while somewhat mixed signals on U.S. interest rates also stalled a rally in the dollar and Treasury yields. 

Gold rate today: On account of dip in the US dollar after US Fed chairman Jerome Powerll hinting rate pause, gold price today ascended to fice month high on Multi Commodity Exchange (MCX). MCX gold rate for December 2023 expirty today opened higher at ₹60,401 per 10 gm levels and went on to hit intraday high of ₹60,615 levels. In international market, sport fold price is oscillating around $1,976 per ounce levels, close to its nearest hurdle of $1,980 levels.

Investing.com-- Asian stocks extended steep losses on Friday as a rout in global bond markets continued to decimate risk appetite, while traders remained on edge over any more escalation in the Israel-Hamas war. 

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates. 

Israel-Hamas War LIVE Updates Also read: Day 14 Israel-Hamas War: Israel bombs historic church in Gaza | 10 updates "Israel's credit profile has proven resilient to terrorist attacks and military conflict in the past," it said. "However, the severity of the current military conflict raises the possibility of longer lasting and material credit impact," it added.