President Financial News

By Yuka Obayashi and Emily Chow

Israel to occupy the Gaza Strip again would be a «big mistake,» US President Joe Biden said in an interview released on Sunday, as Israeli troops prepared for a ground invasion. Israel, seeking vengeance for an attack by Hamas on October 7, has declared war on the militant group, launching a relentless bombing campaign and warning more than a million people in northern Gaza to move south ahead of the operation. Asked by CBS news program 60 Minutes if he would support any occupation of Gaza by the American ally, Biden replied: «I think it'd be a big mistake.» Hamas «don't represent all the Palestinian people,» he continued. But invading and «taking out the extremists» is a «necessary requirement,» he added. The Hamas attack saw fighters shoot, stab and burn to death more than 1,400 people, most of them civilians.

Also read: Israel-Hamas war: Shocking video of Israelis urinating on dead Palestinians surfaces on internet 2. More than one million people have fled their homes in Gaza as Israel bombarded the Hamas-ruled Gaza Strip and continued in preparation for a full-blown ground invasion. 3.

Hamas. Israel's shekel sank to a nearly eight-year low, after the country's prime minister, Benjamin Netanyahu, vowed to «demolish Hamas» in retaliation for the rampage on Oct. 7 that killed 1,300 people in the worst attack on civilians in Israel's history. U.S.

Daniel Noboa is Ecuador's next president, declaring victory on Sunday as the country's national electoral council said results pointed to an «irreversible» outcome and his rival conceded. Noboa was tallying more than 52% of the vote, while his leftist adversary Luisa Gonzalez had about 48%, with more than 90% of ballot boxes counted. Thirty five-year-old Noboa, a surprise qualifier for the run-off in the early election, has pledged to improve the economy and create jobs for young people, as well as to house dangerous criminals on prison ships. «Tomorrow we start work for this new Ecuador, we start working to rebuild a country seriously battered by violence, by corruption and by hate,» Noboa told supporters in the seaside town of Olon after clinching victory in a campaign marred by the murder of anti-corruption candidate Fernando Villavicencio. «From tomorrow Daniel Noboa starts work as your new president,» he added. His victory fulfills a long-held family ambition — he grew up accompanying his banana baron father Alvaro during the latter's multiple failed attempts to become president. Gonzalez congratulated Noboa on his victory. «Daniel Noboa, our profound congratulations, because this is democracy,» Gonzalez told supporters in Quito, calling on Noboa to fulfill his promises to students and the elderly. Noboa will face the significant challenge of righting an economy — which has struggled since the coronavirus pandemic and motivated many thousands of Ecuadoreans to migrate — and sharply rising crime, including increases in murders, robberies and prison riots. Noboa will have just 14 months to govern, serving a truncated term from December this year until May 2025. Re-election is generally not allowed in

Russia's top diplomat Sergei Lavrov arrived in Beijing on Monday ahead of an expected visit by President Vladimir Putin to China, for a gathering of representatives of 130 countries that will be overshadowed by the Israel-Gaza war. This will be Putin's first trip to a major global power since the Ukraine invasion. The foreign ministry announced on social media platform X, formerly Twitter, that Lavrov was in the Chinese capital as part of a Russian delegation. Beijing is hosting representatives of 130 countries Tuesday to Wednesday to mark a decade of its Belt and Road Initiative (BRI) — a key geopolitical project of President Xi Jinping to extend China's global reach. But all eyes will be on Putin, who last month told Beijing's Foreign Minister Wang Yi in Saint Petersburg he had «gladly accepted» Xi's invitation to visit China for the BRI talking shop. The Russian leader's strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation. Putin last week voiced concern at the «catastrophic increase» in the number of civilian victims in Israel and the Gaza Strip. The Kremlin ambassador to the United Nations has called for a «humanitarian cease-fire» in the Gaza Strip and Israel, while blaming the United States for the ongoing conflict. This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. China has refused to condemn the war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. At the heart of the

Gold prices slid on Monday after hitting a near one-month high earlier, as escalating fears of the conflict between Israel and Palestinian militant group Hamas boosted safe-haven bullion more than 3% higher in the last session. FUNDAMENTALS * Spot gold fell 0.5% to $1,921.69 per ounce by 0102 GMT and U.S. gold futures dropped 0.4% to $1,934.40. * Gold, which is seen as a safe investment during uncertain times, hit its highest since Sept.

Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. Brent futures slid 34 cents, or 0.4%, to $90.55 per barrel and U.S.

Read all the latest updates on Israel-Hamas war at Mint's LIVE blog:United States Secretary of State Antony Blinken has reiterated that the US has Israel's back."The United States has Israel's back. We will stand with it today, tomorrow, and every day, and we're doing that in word and also in deed," Blinken said.US President Joe Biden said he is "confident" Israel will act under the rules of war in its conflict with Palestine.In an interview with "60 Minutes," Biden said that while he believes Hamas must be eliminated entirely, there must be a path for a Palestinian state.Florida Governor Ron DeSantis has said that the United States should not accept Palestinian refugees escaping from Gaza.

Gaza is expected to reopen amid diplomatic efforts to get aid into the Hamas-controlled strip that has been under intense Israeli bombing since the group's rampage that killed 1,300 people on Oct. 7. Shocked by the assault on towns and villages, Israel is carrying out the most intense bombardment Gaza has ever seen, has imposed a strict blockade, and is preparing a ground invasion. Hundreds of metric tons of aid from several countries have been held up in Egypt's Sinai Peninsula for days pending a deal for its safe delivery to Gaza and the evacuation of some foreign passport holders through the Rafah crossing. «Rafah will be reopened.

Nikol Pashinyan skipped the CIS summit in Kyrgyzstan last week, Russia-Armenia ties are striving to remain steady as the partnership serves national interests of both countries. While there are fears that Russia-West conflict might “spread to Armenia '' in the backdrop of exodus from Nagarno-Karabah, Armenia and Ukraine are two different situations despite rising differences of opinion between Moscow and Yerevan. Armenia is a member of the Russia-led Collective Security Treaty Organization and has a bilateral defense agreement with Russia. Armenia and Russia have strategic partnership and Armenia currently hosts around 10,000 Russian troops, 5,000 of which are stationed at Gyumri's 102nd Russian military base.

Netflix series "Lupin," recently shared insights into the future of the show, giving fans a glimpse into what might lie ahead for Assane Diop's character. After an exhilarating third season, viewers are eagerly awaiting news about a potential fourth installment of the series. «Lupin,» which debuted on Netflix in 2021, has garnered a dedicated following, thanks to its gripping storyline and outstanding performances. The show follows Assane Diop, portrayed by the charismatic Omar Sy, a skilled thief inspired by the legendary character Arsène Lupin.

BJP is getting a little more active in Gujarat albeit in a subtle way. On Sunday, Union Minister for Home and Cooperative Affairs, Amit Shah attended a slew of events in Ahmedabad and Gandhinagar, including the inauguration of two offices of two BJP legislators from Naranpura and Dariapur in Ahmedabad. Shah, who had arrived in Ahmedabad on Friday, also interacted with Anganwadi children from his constituency in Gandhinagar on Saturday before attending the Indo-Pak Cricket match at the Narendra Modi Stadium. It is being speculated that the party's state unit will soon see a major overhaul ahead of the general election. Chief minister Bhupendra Patel and BJP state president CR Patil have already made a couple of trips to Delhi to meet the party high command, which has added momentum to the speculations. The Gujarat government's flagship biennial event 'Vibrant Gujarat' is also due next year.

₹50 crore of unidentified cash in IT raids has become the centre of a political row erupted between Congress and BJP in Karnataka. Soon after IT raids recovery on Sunday, BJP state president Nalin Kumar Kateeel claimed links between ruling Congress and the recovered money. Soon after his allegations, Chief Minister Siddaramaiah denied the claims and called them baseless.

Union home minister Amit Shah, who will reach Kolkata on Monday will inaugurate the renowned Santosh Mitra Square Durga Puja in central Kolkata, organised by BJP leader and councillor Sajal Ghosh. This pandal is modelled after the Ram Mandir in Ayodhya.

Automobile technology and automation firm Rosmerta Technologies plans to invest Rs 200 crore to set up ten vehicle scrappage units over the next three years, according to a top company executive. The company currently operates a single vehicle scrapping facility in Manesar (Haryana) with a capacity of processing 30,000 vehicles annually. After the capacity addition, the company will be able to process up to 3 lakh vehicles annually. In an interaction with PTI, Rosmerta Technologies President Kartick Nagpal said that with the setting up of the scrappage centres, the company will be able to contribute to the circular economy by helping recycle three lakh vehicles each year. «With this regard, we plan on investing Rs 200 crore across India to leverage this situation and contribute to the circular economy,» he added. The central government believes that the output from scrapped vehicle materials would save about 33 per cent on raw material costs and will bring down reliance on imported metals such as aluminium, copper as well as rubber. India, which is ranked fourth and sixth largest manufacturer of passenger and commercial vehicles respectively, imports metals worth USD 34.7 billion each year. In August 2021, Prime Minister Narendra Modi had launched the national vehicle scrappage policy to help phase out unfit and polluting vehicles and also promote a circular economy. While the government has financially incentivised scrapping old vehicles and replacing them with new ones, over 50 lakh light motor vehicles aged over 50 years (as per industry estimates) continue to ply unchecked. Rosmerta Technologies is the country's leading manufacturer of high-security registration plates (HSRP).

Topworth Steel and Power Pvt Ltd by Amalgam Steel and Power Limited. The company had admitted liability of about ₹3,499 crore, whereas the successful bidder proposed to pay around ₹260 crore. «The overall feasibility and viability of the plan stands unaltered,» the division bench presided over by Justice VG Bisht and technical member Prabhat Kumar said in its order of October 11.

Vladimir Putin will meet Xi Jinping in China this week in a bid to deepen a partnership forged between the United States' two biggest strategic competitors. Putin will attend the Belt and Road Forum in Beijing on Oct.

China's Belt and Road Forum this week is likely to «mainstream» the group in the presence of more than 120 countries invited to the mega gathering. The Taliban leadership will attend a summit for the first time since storming to power in August 2021. The move is also an attempt to create a wedge with India and use the first-mover advantage with the Taliban, according to people in the know. Taliban officials and ministers have at times travelled to regional meetings, but the Belt and Road Forum is the first high-profile summit where Taliban has been invited officially, according to one of the people mentioned above.

Reuters report. “I don't think these are healthy thoughts in the minds of healthy people, because to say that the United States is preparing for war with Russia, well we are all preparing for war because we follow the ancient principle: if you want peace, get ready for war," Putin said in a video clip posted on Telegram. “But we want peace," he added with a chuckle.

Jumma (Friday), but decided against it as a result of some “back door diplomacy". By killing innocent hostages, Hamas could risk losing support in the Islamic world. Millions had taken to the streets in Jordan’s capital Amman after Friday prayers to protest against the bombardment of Gaza.