Palestine Financial News

The European Union has reversed an earlier announcement that it was “immediately” suspending aid for Palestinian authorities and instead said it would urgently review such assistance in the wake of the attacks on Israel by Hamas

Investing.com — The Dow closed higher Monday, as investors bought the early-day weakness after weighing up a more cautious tone rate hike from Federal Reserve officials and rising geopolitical tensions amid fears the Israel-Hamas conflict.  

Investing.com — The S&P 500 climbed Monday, after cutting losses despite rising geopolitical tensions amid fears the Israel-Hamas conflict could spark a wider war in the Middle East.  

Investing.com — Gold settled above the mid $1,800 level on Monday in response to the Israel-Hamas war, but the rally in the safe-haven would depend on how far the crisis expands to impact oil and other global markets, analysts said.

A collective of local leaders in the cryptocurrency space, including Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association and Bits of Gold, have joined together ​​to establish Crypto Aid Israel, a global fundraiser to help displaced Israeli citizens in need of humanitarian aid.

Gaza are preparing for an Israeli offensive of unprecedented scale after Saturday's deadly Hamas raid, with more than 130,000 fleeing their homes and stockpiling supplies as air strikes pound the crowded enclave with 560 already dead. Amid an intensified Israeli siege cutting off water, food and power, and a sudden new assault, conditions look worse than at any point since Palestinian refugees flocked there during the 1948 fighting when Israel was founded. Israeli military phone messages have warned people to leave some areas, indicating a new ground attack that could eclipse previous bouts of destructive warfare in the dense concrete townships that grew up in Gaza's original tented refugee camps. «Where should we go? Where should we go?» asked 55-year-old Mohammad Brais.

Investing.com — Crude prices were up 4% Monday as the latest Middle East crisis  reintroduced geopolitical risk into the oil trade in a way unseen in years, resetting markets that just days ago were depressed more by concerns over the global economy.

Crypto prices are pulling lower on Monday as jitters surrounding the escalating Israel/Palestine conflict and its potential to spill over to major oil-producing regional neighbors like Iran send oil prices higher, raising inflation fears.

Hopes that oil supply might ease a bit next year, and inflationary pressures with it, are fading after Saturday’s shock attack on Israel. On Monday, Brent crude futures rose about 4% to $88 a barrel as traders sized up the potential impact on global supply of a new war in the Middle East. Neither Israel or Palestine are major oil producers, so there isn’t an immediate effect.

Meghalaya, including Rajya Sabha Member Wanweiroy Kharlukhi, who were stranded in Israel, have successfully crossed over to Egypt and are expected to reach India soon. A senior Meghalaya official, preferring anonymity, informed ET, «They are currently in Egypt and are expected to return to India in the near future.» Meghalaya Chief Minister Conrad K. Sangma mentioned on October 7 on social media platfom X, formerly known as Twitter, «27 citizens of Meghalaya who traveled for the Holy Pilgrimage to Jerusalem are stuck in Bethlehem due to the tension between Israel and Palestine.

Click here! Gaza depends on Israel largely for its basic supplies and such a decision will have far-reaching consequences for 2.3 million people living in the densely populated area, the report said. The "complete siege" of the Gaza Strip comes amid Israeli air strikes in which nearly 500 Palestinians are believed to have been killed. The streets of Gaza for the last two days have looked completely deserted, and wary commoners were seen looking to stock up basic needs speculating about the imminent harsh attack.

Atal Bihari Vajpayee in a gathering, dated almost forty six years ago, had stood in support of Palestine and demanded Israel to ‘vacate the land’. The video has resurfaced amid the ongoing war between Israel, and Hamas fighters from Gaza. After Hamas fighters unleashed a multi-pronged surprise attack on Israel on Saturday, the Benjamin Netyanhu government ordered complete blockade and seize of Gaza in retaliation.

Global markets are kicking off the week with heightened volatility, fueled by escalating tensions between Israel and Palestine, which have now reached a level of official war.

(Reuters) — Global companies with a presence in Israel have temporarily shut some operations and asked employees to work from home following military clashes between the country and the Palestinian Islamist group Hamas.

Indian oil companies are targeting net zero by 2046 as they decarbonise operations to cut emissions and transition to cleaner fuels, Oil Minister Hardeep Singh Puri said on Monday. While India has pledged net zero carbon emissions by 2070, state-owned companies have set targets ranging from 2038 (ONGC) to 2046 (IOC). «Indian energy sector is on the cusp of a transition and is rapidly moving towards the centre of global oil and energy market as we are set to become a USD 5 trillion economy,» Puri said, addressing the 26th Energy Technology Meet here.

Gold prices rose more than 1% on Monday as the military conflict between Israeli forces and Palestinian Islamist group Hamas raised political uncertainty in the Middle East, prompting safe-haven buying of investments like bullion. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when gunmen from Hamas rampaged through Israeli towns on Saturday. Gold is used as a safe investment during times of political and financial uncertainty. Spot gold jumped almost 1% to $1,849.10 per ounce by 1132 GMT, having hit its highest level in a week. U.S.

«We extend our deepest condolences to the victims and to the families of all those affected, and wish those injured a speedy recovery.

Investing.com — U.S. futures slumped Monday, as investors fretted over the impact of the intensifying conflict between Israel and Hamas and looked ahead to fresh inflation data later this week.

Hamas militants on Israel over the weekend, saying they were waiting for safety conditions to improve. Israel's national carrier El Al was the exception, adding more flights to bring reservists back from around the world to assist in the country's biggest mobilization in history. Fighters from the Islamist group killed 700 Israelis and abducted dozens in Saturday's attacks, the deadliest such incursion in decades, prompting Israel to retaliate by pounding the Palestinian enclave of Gaza. Israel's tourism sector is set to take a major hit as flight cancellations pile up. Tourism makes up 3.6% of total employment in the country, according to OECD data.

Russia said Monday that creating a Palestinian state is the «most reliable» solution for peace and that fighting terrorism alone would not ensure security. Creating a «Palestinian state that would live side by side with Israel… is the most reliable path to solve (the conflict),» Foreign Minister Sergei Lavrov said.

By Steven Scheer and Ari Rabinovitch