Israel Financial News

Israel carried out a genocide in Gaza, US Secretary of Defence Lloyd Austin said there was no 'evidence' of it. On Tuesday, US Secretary of State Antony Blinken criticised the international community for failing to hold Hamas accountable, while US Defence Secretary Austin denied claims that Israel was committing genocide in Gaza, according to The Times of Israel.

Joe Biden expressed his solidarity with those facing conflict, hunger, and displacement globally, specifically mentioning regions like Gaza and Sudan. Eid ul-Fitr, celebrated on the first day of Shawwal, holds significant importance in the Islamic lunar calendar.

Check all the Eid-al-Fitr 2024 Live Updates here on LiveMint.Kerala Governor Arif Mohammed Khan and Chief Minister Pinarayi Vijayan on Tuesday extended greetings to the Muslim community in the state on the eve of Eid-ul-Fitr and wished the festival may strengthen brotherhood and compassion among the people.In a message, Khan said Eid-ul-Fitr celebrates the glory of self-restraint, sacrifice and generosity and the fast reminds us of our responsibility of creating a hunger-free and happier world."My heartiest greetings to Keralites all over the world, on the solemn occasion of Eid-ul-Fitr," he said. Invoking the plight of Palestinian natives in Gaza amid the ongoing Israeli military offensive against Hamas, British Prime Minister Rishi Sunak, while greeting the Muslims in the country and across the world on the occasion of Eid, said the bloodshed and suffering are 'unbearable'.He added that his country was doing everything it could to help bring the conflict to an end and ensure that the hostages were released.Eid-ul-Fitr, which marks the culmination of the fasting month of Ramzan, will be celebrated in the country on Thursday except Kerala, Jammu and Kashmir and Ladakh.

Indian Navy's recent exploits. Over the last three months, the navy has thwarted Somali pirates, rescued hijacked ships and responded to multiple drone/missile attacks by the Houthis in the Gulf of Aden and the Arabian Sea. As the Israel-Hamas war raged, the navy showed up in strength to protect crucial sea lanes as a first responder, security provider and resident power in the Indian Ocean region. It deployed 21 ships, made 19 interventions and rescued more than 100 crew and others, sometimes from the burning deck. And it assured protection to 450 merchant ships carrying essential supplies.

Emerging market stocks were rising Tuesday and headed for their best close since June 2022, aided by a surge in the shares of an Asian chipmaker.

The drone in the video, which is clearly modeled after Iran’s Ababil model — the workhorse of paramilitaries across the Middle East since it was developed in the 1990s — reflected a design tweak: Its two front tires, instead of the usual one, provided actual battlefield evidence that Sudan is modifying the Iranian drone into its own weapon, which it calls the Zagel-3. That revelation follows the emergence in the last two years of ramped-up Iranian drone production in at least five other countries, from South America to Central Asia. Most recently, Russia has started making Iranian drones for its war in Ukraine, bringing the number of countries using Iranian technology, assistance, or parts to at least a dozen.

Oil prices rose in early Asian trading after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza and ease tension in the Middle East. Brent crude futures rose 40 cents to $90.78 a barrel by 0032 GMT. U.S. West Texas Intermediate (WTI) crude rose 35 cents to $86.78.

Why are gold and US dollar rates moving in same direction? — explained In March, China's central bank disclosed an addition of 160,000 troy ounces of gold to its reserves. Alongside, countries including Turkey, India, Kazakhstan, and various Eastern European nations have also engaged in gold purchases throughout the year. “The gold and silver market continues its relentless climb.

Gaza, as Israel pulled all of its ground troops out of southern Gaza. Israel's army cited “tactical reasons", for their sudden withdrawal. The move, however, has raised questions about the future direction of the war.

Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl “Crude oil exhibited significant volatility, extending its gains to reach a 5-1/2 month high amidst escalating tensions in the Middle East and constrained supply from OPEC+ nations. On Monday, both international oil benchmark prices experienced a decline of more than $1 per barrel.

The nation’s most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors that he continues to expect the U.S. economy to be resilient and grow this year

JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the US economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as US political polarisation, might be creating an environment that «may very well be creating risks that could eclipse anything since World War II.» The comments came in an annual shareholder letter from Dimon, who often uses the letter to weigh in broad topics like politics, regulation and global events and what it might mean to JPMorgan Chase, as well as the broader economy.

Gold set a fresh record above $2,350 an ounce before paring gains, as investors shifted focus to a key US inflation reading later this week. 

oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its crude exports is compounding a global squeeze, prompting refiners in the US — the world’s biggest oil producer — to consume more domestic barrels. American sanctions have stranded Russian cargoes at sea, with Venezuelan supply a potential next target. Houthi rebel attacks on tankers in the Red Sea have delayed crude shipments. And despite the turmoil, OPEC and its allies are sticking with their production cuts. It all adds up to a magnitude of supply disruption that has taken traders by surprise. The crunch is turbocharging an oil rally ahead of the US summer driving season, threatening to push Brent crude, the global benchmark, to $100 for the first time in almost two years. That’s amplifying the inflation concerns that are clouding US President Joe Biden’s reelection chances and complicating central banks’ rate-cut deliberations.

Oil prices fell nearly 2% as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza, while gold prices slumped 1% after scaling record high on Friday as U.S. Treasury yields remain elevated.

The White House described the recent phone call between US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu as “tense and challenging." And what else could it have been? For the first time since Hamas attacked Israel on 7 October and Israel began retaliating massively against the whole Gaza Strip, Biden demanded an immediate ceasefire. He apparently added an or-else: “If there are no changes in their policy," said a spokesperson, “there will have to be changes in ours." That still seems too little too late to lots of people, even and especially in Biden’s own government.

Israel's defence minister said on Sunday that the country was ready to handle any scenario after Iran threatened to retaliate for the killing of Iranian generals on April 1. An Iranian official said on Sunday that Israeli embassies were not safe, and a semi-official news agency published a graphic showing weapons that it said would be capable of striking Israel. Israeli Defence Minister Yoav Gallant's office made the statement about preparedness after he held an «operational situation assessment» with senior military officers.

Market regulator Securities Exchange Board of India (SEBI) is considering some major changes in the private placement memorandum of alternative investment funds. To facilitate the ease of doing business, Sebi has proposed that the PPM of the AIF can be directly submitted to the market regulator rather than processing it through a merchant banker. Prime Minister Narendra Modi launched a scathing attack on Congress chief Mallikarjun Kharge over his comment on Article 370.

Spot gold closed with a solid gain of 1.76% at $2330 Friday as the metal rallied for the third straight week. It hit a fresh record high just above $2330. It posted a whooping gain of nearly 4.50% on the week despite surging yields and a largely steady US Dollar. Part of the gains this week could be attributed to escalating Middle East tensions on possibility of a direct war between Israel and Iran. The ten-year US yields were up 2.14% Friday and were up around 4.70% on the week. The two-year US yields closed at 4.76%, up by 2.26% Friday and were up around 2.50% on the week. The US Dollar Index failed to capitalise on a stellar job report as healthy risk appetite weighed on it; however, it closed with a gain of 0.06% at 104.29 Friday and was down by roughly 0.20% on the week.

US on high alert as Iran-Israel shadow war spurs chance of wider Middle east row The bloodiest-ever Gaza war began on October 7 with an unprecedented attack by Hamas militants resulting in the death of 1,170 Israelis. Thereafter, Israel relentlessly bombarded Gaza by air, land, and sea, killing at least 33,137 people, mostly women and children so far. Israel says that around 250 of its citizens and foreigners were taken hostage by militants on October 7.

Nilesh Shah while underscoring India's favourable economic situation due to cheaper oil prices and strong GDP despite geopolitical tensions. To prove that “god exists upstairs and is an Indian", Nilesh Shah, referred to double-digit oil prices in India despite the Israel-Hamas war, Red Sea disturbance and other geopolitical tensions. He also mentioned US Fed hints on rate cuts, and strong GDP growth rate numbers.