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US urges Israel to extend banking relations with Palestinian banks for at least a year

Adewale Adeyemo listens to questions during his Senate Finance Committee nomination hearing to be the next Deputy Treasury Secretary on February 23, 2021 at Capitol Hill in Washington, D.C. (AFP file photo)
Adewale Adeyemo listens to questions during his Senate Finance Committee nomination hearing to be the next Deputy Treasury Secretary on February 23, 2021 at Capitol Hill in Washington, D.C. (AFP file photo)
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Updated 24 September 2024

US urges Israel to extend banking relations with Palestinian banks for at least a year

US urges Israel to extend banking relations with Palestinian banks for at least a year
  • Israel’s military offensive in the Gaza Strip has killed more than 41,000 Palestinians, according to health officials in the Hamas-ruled enclave, and created a humanitarian crisis

WASHINGTON: US Deputy Treasury Secretary Wally Adeyemo urged Israel to extend its banking relationships with Palestinian banks for at least a year to avert an economic crisis in the West Bank, warning that Israel’s own security was at stake.
Adeyemo delivered the message in a meeting with Bank of Israel Governor Amir Yaron in New York on Monday on the sidelines of the United Nations General Assembly before meeting separately with Jordan’s King Abdullah.
“He expressed the United States government’s concern about threats by some within the Israeli government to sever correspondent banking relationships between Israeli and Palestinian banks and insisted that these should be extended for at least a year,” the Treasury Department said in a statement about Adeyemo’s meeting with Yaron.
Israel’s UN mission declined to comment.
US officials have been warning for months that threats by Israeli Finance Minister Bezalel Smotrich and other Israeli officials to cut off Palestinian banks from their Israeli correspondent banks could destabilize the Palestinian Authority, which in turn could harm Israel’s own security.
The banking correspondence authorization is due to expire on Oct. 31, posing risks to export and import transactions valued at nearly $10 billion, Treasury officials have said.
Adeyemo told Abdullah that any Israeli move to cut off Palestinian banks would raise the risk of regional instability and could move more Palestinian financial transactions into the shadows, both of which would harm Israeli and regional security, said a source familiar with those talks.
Treasury Secretary Janet Yellen raised similar concerns ahead of a Group of Seven finance ministers meeting in May, and the issue was mentioned in two G7 joint communiques.
“The viability of the Palestinian Authority is essential to stability in the West Bank, which in turn is essential to Israel’s own national security,” said one US official, speaking on condition of anonymity.
The World Bank on Monday said the Palestinian territories were already “nearing economic freefall,” with Gaza’s gross domestic product declining 86 percent in the first quarter of 2024 year on year, and the Palestinian Authority facing a financing gap of $1.86 billion in 2024 and heightened risks of a “systemic failure.”
Smotrich in June extended a waiver that allows cooperation between Israel’s banking system and Palestinian banks in the occupied West Bank, but only for four months, not a full year as his predecessors had done.
The waiver allows Israeli banks to process shekel payments for services and salaries tied to the Palestinian Authority, without the risk of being charged with money laundering and funding terrorism. Without it, Palestinian banks would be cut off from the Israeli financial system.
US officials have been tight-lipped about what would happen if Israel failed to extend the waiver, and whether they could impose sanctions similar to those slapped on Israeli settlers for violence against Palestinians in the West Bank.


Four days left to square the circle on global plastic pollution treaty

Updated 22 sec ago

Four days left to square the circle on global plastic pollution treaty

Four days left to square the circle on global plastic pollution treaty
GENEVA: Countries remained at loggerheads Monday over how to tackle plastic pollution, with only four days left to craft a landmark global treaty on reining in the ever-growing scourge.
While plastic has transformed modern life, plastic pollution poses an increasing threat to the environment and the human body — and every day the garbage accumulates on land and in the oceans.
The 184 countries meeting at the United Nations to sculpt a first international accord setting out the way forward return to the negotiating table after a day off Sunday to reflect on their differences.
The first week of talks in Geneva fell behind schedule and failed to produce a clear text, with states still deeply divided at square one: the purpose and scope of the treaty they started negotiating two and a half years ago.
Last week, working groups met on technical topics ranging from the design of plastic to waste management, production, financing for recycling, plastic reuse, and funding waste collection in developing countries.
They also discussed molecules and chemical additives that pose environmental and health risks.


A nebulous cluster of mostly oil-producing states calling themselves the Like-Minded Group want the treaty to focus primarily on waste management.
The United States and India are also close to this club.
At the other end of the spectrum, a growing faction calling themselves the “ambitious” group want radical action written into the treaty, including measures to curb the damage caused by plastic garbage, such as phasing out the most dangerous chemicals.
Plastic pollution is so ubiquitous that microplastics have been found on the highest mountain peaks, in the deepest ocean trench and scattered throughout almost every part of the human body.
The ambitious group wants a clause reining in plastic production, which is set to triple by 2060.
The club brings together the European Union, many African and Latin American countries, Australia, Britain, Switzerland and Canada.
It also includes island micro-nations drowning in plastic trash they did little to produce and have little capacity to deal with.
Palau, speaking for 39 small island developing states (SIDS), said the treaty had to deal with removing the plastic garbage “already choking our oceans.”
“SIDS will not stand by while our future is bartered away in a stalemate,” and “this brinkmanship has a real price: a dying ocean,” the Micronesian archipelago said.


The treaty is set to be settled by universal consensus; but with countries far apart, the lowest-ambition countries are quite comfortable not budging, observers said.
“We risk having a meaningless treaty without any binding global rules like bans and phase-outs. This is unacceptable,” Eirik Lindebjerg, global plastics adviser for the World Wide Fund for Nature, told AFP.
“Expecting any meaningful outcome to this process through consensus is a delusion. With the time remaining, the ambitious governments must come together as a majority to finalize the treaty text and prepare to agree it through a vote.”
Without touching on whether ambitious countries would ultimately abandon consensus and go for a vote, the EU’s environment commissioner Jessika Roswall, due in Geneva on Monday, urged countries to speed up negotiations and not “miss this historic opportunity.”
The draft treaty has ballooned from 22 to 35 pages — with the number of brackets in the text going up near five-fold to almost 1,500 as countries insert a blizzard of conflicting wishes and ideas.
“With four more days to go, we have more square brackets in the text than plastic in the sea. It’s time to get results,” Roswall said.
In total, 70 ministers and around 30 senior government officials are expected in Geneva from Tuesday onwards and could perhaps help break the deadlock.

Massive mudslide kills 7 volunteers repairing flood damage in northern Pakistan

Massive mudslide kills 7 volunteers repairing flood damage in northern Pakistan
Updated 33 min 52 sec ago

Massive mudslide kills 7 volunteers repairing flood damage in northern Pakistan

Massive mudslide kills 7 volunteers repairing flood damage in northern Pakistan
  • A massive mudslide has killed seven volunteers in northern Pakistan as they repaired a drainage channel damaged by flash floods
  • The incident happened early Monday in the town of Danyor in Gilgit-Baltistan. Rescuers recovered the bodies and transported three injured to a hospital

GILGIT: A massive mudslide early Monday killed seven volunteers as they repaired a drainage channel damaged by flash floods in northern Pakistan, officials said, leaving three others injured.
Rescuers recovered the bodies after the mudslide hit the town of Danyor in Gilgit-Baltistan at dawn and transported the injured to a hospital, said Faizullah Faraq, a regional government spokesperson.
This came a day after a flash flood triggered by a glacial lake outburst damaged the key Karakoram Highway, which passes through Danyor, disrupting traffic and trade between Pakistan and China. Engineers and workers were deployed along with heavy machinery to start repairs, Faraq said Monday.
Meanwhile, several landslides near the damaged mountainous highway left homes damaged in Danyor and nearby areas as first responders evacuated those affected by the floods to safer areas, said Hassan Ali, a local police chief, adding that essential foods were being provided to those displaced.
Sunday’s glacial lake outburst was huge, Ali said, swelling the Hunza river and triggering flash flooding that battered crops. Authorities were still assessing the damage, he said.
The region’s Chief Minister Gulbar Khan called the seven who died “heroes who sacrificed their lives for the community” in a statement Monday.
Gilgit-Baltistan is known for its scenic glaciers that provide 75 percent of the country’s stored water supply, according to the region’s official website. Last month, it was hit by landslides, killing 18 tourists when flash floods swept away their vehicles.
Experts say glacial lake outburst floods occur when water dammed by a glacier is suddenly released, often because ice or debris barriers collapse. Scientists say rising temperatures linked to climate change are accelerating glacier melt in Pakistan’s northern mountains, increasing both the size and number of these lakes.
A study released last week by World Weather Attribution, a network of international scientists, found rainfall from June 24 to July 23 was 10 percent to 15 percent heavier because of global warming. Pakistan produces less than 1 percent of the world’s greenhouse gases, but research shows it suffers disproportionately from extreme weather.
In 2022, its worst monsoon season on record killed more than 1,700 people and caused an estimated $40 billion in damage.
Rains and floods since June 26 have killed more than 300 people across Pakistan.


In India, Trump’s tariffs spark calls to boycott American goods

In India, Trump’s tariffs spark calls to boycott American goods
Updated 49 min 13 sec ago

In India, Trump’s tariffs spark calls to boycott American goods

In India, Trump’s tariffs spark calls to boycott American goods
  • Trump recently imposed a 50 percent tariff on goods from India, rattling exporters and damaging ties with New Delhi
  • India is a key market for American brands that have rapidly expanded to target growing base of affluent consumers

NEW DELHI: From McDonald’s and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi’s supporters stoke anti-American sentiment to protest against US tariffs.

India, the world’s most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta’s WhatsApp and Domino’s has more restaurants than any other brand in the country.

Beverages like Pepsi and Coca-Cola often dominate store shelves, and people still queue up when a new Apple store opens or a Starbucks cafe doles out discounts. Although there was no immediate indication of sales being hit, there’s a growing chorus both on social media and offline to buy local and ditch American products after Donald Trump imposed a 50 percent tariff on goods from India, rattling exporters and damaging ties between New Delhi and Washington.

McDonald’s, Coca-Cola, Amazon and Apple did not immediately respond to Reuters queries.

Manish Chowdhary, co-founder of India’s Wow Skin Science, took to LinkedIn with a video message urging support for farmers and startups to make “Made in India” a “global obsession,” and to learn from South Korea whose food and beauty products are famous worldwide.

“We have lined up for products from thousands of miles away. We have proudly spent on brands that we don’t own, while our own makers fight for attention in their own country,” he said.

Rahm Shastry, CEO of India’s DriveU, which provides a car driver on call service, wrote on LinkedIn: “India should have its own home-grown Twitter/Google/YouTube/WhatsApp/FB — like China has.”

To be fair, Indian retail companies give foreign brands like Starbucks stiff competition in the domestic market, but going global has been a challenge. Indian IT services firms, however, have become deeply entrenched in the global economy, with the likes of TCS and Infosys providing software solutions to clients world over.

On Sunday, Modi made a “special appeal” for becoming self-reliant, telling a gathering in Bengaluru that Indian technology companies made products for the world but “now is the time for us to give more priority to India’s needs.”

He did not name any company.

DON’T DRAG MY MCPUFF INTO IT

Even as anti-American protests simmer, Tesla launched its second showroom in India in New Delhi, with Monday’s opening attended by Indian commerce ministry officials and US embassy officials.

The Swadeshi Jagran Manch group, which is linked to Modi’s Bharatiya Janata Party, took out small public rallies across India on Sunday, urging people to boycott American brands.

“People are now looking at Indian products. It will take some time to fructify,” Ashwani MaHajjan, the group’s co-convenor, told Reuters. “This is a call for nationalism, patriotism.”
He also shared with Reuters a table his group is circulating on WhatsApp, listing Indian brands of bath soaps, toothpaste and cold drinks that people could choose over foreign ones.

On social media, one of the group’s campaigns is a graphic titled “Boycott foreign food chains,” with logos of McDonald’s and many other restaurant brands.
In Uttar Pradesh, Rajat Gupta, 37, who was dining at a McDonald’s in Lucknow on Monday, said he wasn’t concerned about the tariff protests and simply enjoyed the 49-rupee ($0.55) coffee he considered good value for money.

“Tariffs are a matter of diplomacy and my McPuff, coffee should not be dragged into it,” he said. 


In India, Trump’s tariffs spark calls to boycott American goods

In India, Trump’s tariffs spark calls to boycott American goods
Updated 55 min 33 sec ago

In India, Trump’s tariffs spark calls to boycott American goods

In India, Trump’s tariffs spark calls to boycott American goods
  • From McDonald’s and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Modi’s supporters call for boycotts

NEW DELHI: From McDonald’s and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi’s supporters stoke anti-American sentiment to protest against US tariffs.
India, the world’s most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta’s WhatsApp and Domino’s has more restaurants than any other brand in the country.

Beverages like Pepsi and Coca-Cola often dominate store shelves, and people still queue up when a new Apple store opens or a Starbucks cafe doles out discounts. Although there was no immediate indication of sales being hit, there’s a growing chorus both on social media and offline to buy local and ditch American products after Donald Trump imposed a 50 percent tariff on goods from India, rattling exporters and damaging ties between New Delhi and Washington.
McDonald’s, Coca-Cola, Amazon and Apple did not immediately respond to Reuters queries.
Manish Chowdhary, co-founder of India’s Wow Skin Science, took to LinkedIn with a video message urging support for farmers and startups to make “Made in India” a “global obsession,” and to learn from South Korea whose food and beauty products are famous worldwide.
“We have lined up for products from thousands of miles away. We have proudly spent on brands that we don’t own, while our own makers fight for attention in their own country,” he said.
Rahm Shastry, CEO of India’s DriveU, which provides a car driver on call service, wrote on LinkedIn: “India should have its own home-grown Twitter/Google/YouTube/WhatsApp/FB — like China has.” To be fair, Indian retail companies give foreign brands like Starbucks stiff competition in the domestic market, but going global has been a challenge. Indian IT services firms, however, have become deeply entrenched in the global economy, with the likes of TCS and Infosys providing software solutions to clients world over.
On Sunday, Modi made a “special appeal” for becoming self-reliant, telling a gathering in Bengaluru that Indian technology companies made products for the world but “now is the time for us to give more priority to India’s needs.” He did not name any company.
Even as anti-American protests simmer, Tesla launched its second showroom in India in New Delhi, with Monday’s opening attended by Indian commerce ministry officials and US embassy officials.
The Swadeshi Jagran Manch group, which is linked to Modi’s Bharatiya Janata Party, took out small public rallies across India on Sunday, urging people to boycott American brands.
“People are now looking at Indian products. It will take some time to fructify,” Ashwani MaHajjan, the group’s co-convenor, told Reuters. “This is a call for nationalism, patriotism.”
He also shared with Reuters a table his group is circulating on WhatsApp, listing Indian brands of bath soaps, toothpaste and cold drinks that people could choose over foreign ones.
On social media, one of the group’s campaigns is a graphic titled “Boycott foreign food chains,” with logos of McDonald’s and many other restaurant brands.
In Uttar Pradesh, Rajat Gupta, 37, who was dining at a McDonald’s in Lucknow on Monday, said he wasn’t concerned about the tariff protests and simply enjoyed the 49-rupee ($0.55) coffee he considered good value for money.
“Tariffs are a matter of diplomacy and my McPuff, coffee should not be dragged into it,” he said.


Aid cuts fuel fears on militant-hit Lake Chad’s shores

Aid cuts fuel fears on militant-hit Lake Chad’s shores
Updated 11 August 2025

Aid cuts fuel fears on militant-hit Lake Chad’s shores

Aid cuts fuel fears on militant-hit Lake Chad’s shores
  • Chad’s Lac region is one of many around the world to be hit by cuts in the United States’s foreign aid budget ordered by President Donald Trump

BAGA SOLA: Militants surrounded Ahmat Moussa’s isolated village on Lake Chad’s shores in the dead of night and then attacked – with devastating consequences for the fisherman and many of his neighbors.

Boko Haram militants have sowed terror among those living around Lake Chad for some 15 years, disrupting the fishing, farming and herding on which millions depend.

“I heard the first blasts and I left without looking back,” 42-year-old Moussa said, of the raid on Balangoura nine months ago.

He has a scar where a Kalashnikov’s bullet hit him in the right leg. And while he escaped, his 16-year-old son was abducted in the raid.

Neighbor Baya Ali Moussa also suffered horror and loss that night.

While she also escaped Balangoura, the body of her 23-year-old son was discovered three days later, floating in the lake.

Both villagers found refuge elsewhere on the lake, but they depend on dwindling help from NGOs and aid organizations battling massive foreign cuts to humanitarian budgets.

Surrounded by Cameroon, Chad, Niger and Nigeria, Lake Chad’s countless islets serve as hideouts for the Islamist militants, whose violent campaign began in Nigeria’s northeast before spilling into its neighbors.

Militant attacks have surged in the wider Sahel region, though Boko Haram has lost ground to the army in the Lake Chad area.

The insurgents have nevertheless remained a constant threat, carrying out frequent kidnappings, executions, rapes and lootings.

In Chad’s Lac province alone, more than 250,000 people have been forced to flee their homes, says the United Nations.

Tipping people further into poverty in one of the world’s most impoverished nations only helps turn the area into a recruiting ground for the militants.

Like 2,000 others, Baya Ali Moussa and Ahmat Moussa have taken refuge in Yakoua, some 20 kilometers (12 miles) from the Lac region’s capital, Bol, on the banks of a branch of the lake.

“Here we’ve nothing to eat or drink, we survive only thanks to community togetherness and to humanitarian workers,” said Baya Ali Moussa.

For three months, the ACTED humanitarian organization has distributed emergency aid to the displaced people in Yakoua.

“Attacks continue, kidnappings continue, camps for displaced people turn into villages, but the humanitarian momentum we saw from 2015 to 2019 has waned,” said Togoum Atikang, who heads ACTED’s rapid response projects.

“Some donors are pulling out their funding,” he added.

“Wherever we pull out, the population will suffer even more,” he warned.

Chad’s Lac region is one of many around the world to be hit by cuts in the United States’s foreign aid budget ordered by President Donald Trump.

Having accounted for half of the World Food Programme’s funding, the United States was the UN food agency’s top bankroller followed by Europe.

“With funds declining, we have to cut back,” said Alexandre Le Cuziat, WFP deputy director in Chad.

At the beginning of July, the WFP suspended its flight service between the Chadian capital N’Djamena and Bol.

So where previously it took less than an hour to fly in goods and people, now the journey will have to be made by road — a whole day along an unsafe route.

The WFP and the UN refugee agency are also shuttering several offices in the Lac region.

“The US financing freeze has hit some seven percent of the humanitarian aid here in Chad since January,” said Francois Batalingaya, the UN’s humanitarian coordinator in the country.

“But the problem is that we have no idea of what the rest of the year will bring.”

He worried that aid groups would leave “from the month of October onwards.”

Funding for the humanitarian response plan for Chad is “only at 11 percent” of the 1.45 billion dollars required, he said.

At the same time last year, it was 34-percent funded, he added.

As the international climate for humanitarian funding has gone cold, at the national level Chad has also prioritized sending emergency aid to its eastern border with war-torn Sudan.

More than a million Sudanese have fled to Chad since the civil war began in April 2023.

“As a result, Lake Chad no longer captures the world’s attention,” Batalingaya said.

“If we forget the people of the region, there will be more people displaced and more people will join these armed groups.”