President Financial News

TEL AVIV—Israel’s Prime Minister Benjamin Netanyahu issued a rare apology Sunday that inadvertently framed the political crisis that has engulfed him. A few hours earlier, facing mounting criticism for the Hamas attacks that killed 1,400 Israelis, he publicly blamed the security failures on Israel’s defense and intelligence services. He hadn’t been warned of Hamas’s intention to start a war, he wrote in a tweet on X, saying that defense and intelligence officials had “assessed that Hamas was deterred." Soon after, he deleted the tweet and apologized.

Former Kansas City Federal Reserve Bank president and CEO Thomas Hoenig joins 'Maria Bartiromo's Wall Street' to discuss the Federal Reserve's next move.

The Russian FSB, the nation’s intelligence service, has charged a man suspected of donating crypto to Ukraine’s military with high treason.

Equifax, which holds credit data on almost 20 million Australians, says early warning signs for a tougher period for banks are emerging, including a spike in demand for credit cards and personal loans in the last quarter.

By David Shepardson and Joseph White

By Josue Decavele

Narendra Modi unveiled this ambitious project on 9 September during the G-20 summit in New Delhi. It has the potential to change face of Asia and Europe through the building of transport and communication links via rail, road, and the sea. Along with the US, Saudi Arabia, UAE, the EU, Italy, France, and Germany have signed a Memorandum of Understanding for this project.

Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy. Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank to hold rates steady for the second meeting in a row as it looks to return inflation to its long-term target of two percent. «Fed commentary has all but confirmed that the Fed will stay on hold in November,» Bank of America economists wrote in a recent note to clients. Interest rate hikes slow down inflation by raising the cost of borrowing from the bank, which dampens economic activity and weakens the labor market. Since peaking at more than seven percent in June last year, inflation as measured by the Fed's favored yardstick has fallen by more than half — though it remains stuck firmly above three percent. Futures traders assign a probability of 99.9 percent that the Fed will vote to hold rates steady in November, according to CME Group data. In a surprising development for many analysts, the Fed's aggressive interest rate policy has not pushed the world's largest economy into a recession, and it looks unlikely to do so in the coming months. In fact, resilient consumer spending fueled higher-than-expected annualized growth of 4.9 percent in the third quarter, building on positive growth in the first half of the year. At the same time, hiring has picked up and unemployment remains close to historic lows. «I always say it is a mistake to bet against the American people,» President Joe Biden said in a statement Thursday, shortly after the latest GDP figures were released. «I never believed we would need a recession to bring inflation down — and today we

By Emily Rose and Nidal al-Mughrabi

By Joseph White

Digvijaya Singh on Sunday claimed that central agencies will carry out raids in election-bound Madhya Pradesh similar to the ones they recently conducted in Rajasthan, who also goes to polls next month. Earlier this week, the Enforcement Directorate (ED) raided the premises of Rajasthan Congress president Govind Singh Dotasra and the party candidate from Mahua assembly seat as part of a money laundering probe into an alleged exam paper leak case in the state. Assembly elections in the BJP-governed Madhya Pradesh and Congress-ruled Rajasthan will be held on November 17 and November 25, respectively. Talking to reporters in Bhopal, Singh said, «On one hand they (BJP) are intimidating officers, on the other, they are going to conduct raids in Madhya Pradesh like they did in Rajasthan.

Siddaramaiah on Sunday continued his attack on Prime Minister Narendra Modi accusing the Centre of not releasing grants for 61 centrally sponsored schemes in Karnataka in the past six months since Congress came to power. These schemes fell across 23 departments, the CM said in a series of posts on social media platform X, while questioning the PM if these welfare schemes had become a burden on the Centre. Siddaramaiah suspected the Centre was taking revenge on Karnataka for voting in a Congress regime. The BJP national president JP Nadda had threatened voters during the election campaign that the Centre would stop funds if the BJP was not re-elected, the CM claimed and wondered if the Centre was actually implementing this threat. The delay in release of grants, the CM added, had landed eligible beneficiaries in trouble.

Biden is calling on Israeli and Arab leaders to think hard about their eventual postwar reality. It's one, he argues, where finally finding agreement on a long-sought two-state solution to the Israel-Palestinian conflict should be a priority. «There's no going back to the status quo as it stood on Oct. 6,» Biden told reporters, referring to the day before Hamas militants attacked Israel and set off the latest war.

TMC is plundering West Bengal's resources, depriving the people of their needs, BJP state president Sukanta Majumdar alleged on Sunday. Speaking at a programme organised by the state BJP to commemorate the 'Amrit Kalash Yatra', he said one TMC leader after the other is going to jail in corruption cases, and no one knows where will it end. «While Prime Minister Narendra Modi is paying homage to the great sons of the country with the 'Meri Mati, Mera Desh' programme, the TMC is plundering the resources of the state and depriving the people,» alleged Majumdar, the MP of Balurghat.

Congress president Mallikarjun Kharge on Sunday assured that if the party comes to power in Telangana it will implement its six guarantees in the state. Addressing a public meeting in Sangareddy constituency in the run-up to the November 30 Assembly polls in Telangana, Kharge highlighted the six poll guarantees announced by the Congress in Telangana and urged the people to elect the grand old party in the state.

Congress national president Mallikarjun Kharge on Sunday took a dig at the ruling Bhartiya Janata Party (BJP) alleging that the latter «made fun» of the public over the reported inflation in the country. In a post on X, Kharge wrote, «The crying voice of the people, who have been burdened under the burden of BJP's inflation in the last nine and a half years,… Every time on the issue of inflation, Modi government made fun of the public, teased like this — »Inflation is not visible", «I don't eat onions», «It is better than other countries».

Maldives will work to return Indian military personnel from its shores «as soon as possible,» President-elect Mohamed Muizzu told Reuters on Sunday, insisting it was the top foreign policy priority for the tiny Indian Ocean island chain. Muizzu won the Maldives' presidential election last month, beating incumbent President Ibrahim Solih in a second-round runoff, and will take office on Nov. 17. Returning Indian military was a core policy of his election campaign. «I will be holding frank and detailed diplomatic consultations with India to work out details of sending back military personnel from the Maldives as soon as possible,» he told Reuters in an online interview from Male.

Rahul Gandhi, who is currently in poll-bound Chhattisgarh, Sunday announced free treatment facilities up to ₹10 lakh for the poor if the party retains power in the state. Addressing an election rally in Rajnandgaon, the Congress MP from Wayanad constituency in Kerala promised to provide ₹10,000 per year to landless rural labourers if the party retains power. Gandhi said the Congress government is the government of the poor, labourers, farmers, backward classes, tribals and Dalits and it listens to the voice of their hearts.

Russia’s Defense Ministry said Sunday. “The air defense systems in place destroyed 36 Ukrainian unmanned aerial vehicles over the Black Sea and the northwestern part of the Crimean peninsula,” the ministry wrote on Telegram. Local authorities in the southern Krasnodar region bordering the Black Sea said that a fire broke out at an oil refinery in the early hours of Sunday, but did not specify the cause. “The reasons for the incident are being established,” a statement from local authorities said, amid claims in local media outlets that the fire had been caused by a drone strike or debris from a downed drone. Drone strikes and shelling on the Russian border regions and Moscow-annexed Crimea are a regular occurrence.

Reliance Jio sees global foray as an option which is continuously under evaluation at the company, a senior company official said. While speaking to the media at India Mobile Congress, Reliance Jio President Mathew Oommen said that India is now a tier 1 plus country and there should be no apprehension in framing policies that are right for the nation. “We think the opportunity for India to go global is big. Reliance will continue to review options to see how best to represent India globally and offer value to customers leveraging the technology capabilities that we have already operationalized in India,” Oommen said. He said that to truly drive the Digital India vision, the government should start leveraging Rs 75,700 crore Universal Services Obligation Fund (USOF) not just for mobile tower deployment but to make devices and services affordable and accessible for individuals. He said Jio Bharat Phone ecosystem is an enabler to 2G mukt Bharat and AI Yukt Bharat. He said that the underutilised USO fund should be leveraged for not just telecom infrastructure but also giving help to individuals for devices and services for those who cannot afford the transition. «Anyone who cannot afford connectivity or monthly rent should be given a device and service model by leveraging the fund,” Oommen said. The government at present charges 8 per cent of telecom companies' revenue as licence fee.

Donald Trump pledged to restore the “travel ban" that targeted seven Muslim-majority countries, if he is re-elected to the White House next year. “You remember the travel ban? On day one I will restore our travel ban," Donald Trump said on October 28, while addressing a Republican Jewish Convention in Las Vegas. Donald Trump was referring to the 2017 order issued by his administration, that imposed a blanket ban on the entry of travellers from Iran, Libya, Somalia, Syria, Yemen, Iraq and Sudan.