Live music shows ahead
Fact: On Wednesday evening, musicians will perform iconic 70s songs at Technopolis 20 in Paphos.
un
‘Turkey trying to justify aggression toward Cyprus’
Turkey is following an ‘à la carte’ approach to UN Security Council resolutions, rejecting or branding them as obsolete when they do not align with its narrative, according to the Permanent Representative of Cyprus to the UN, Ambassador Maria Michael.
US Dollar consolidates gains as focus on geopolitics
– Growing expectations for a delay in the Federal Reserve’s policy pivot and escalating geopolitical tensions fueled an impressive US Dollar rally last week.
– Iran launched an assault with dozens of drones in retaliation to a suspected Israeli attack on Iran’s consulate in Damascus.
– UN Secretary-General Antonio Guterres condemned Iran’s drone attacks targeting Israel as a “serious escalation” and called for restraint.
– US stock index futures trade modestly higher after a sharp decline on Wall Street.
– Gold opened higher and advanced above ,370 before retreating.
– EURUSD broke below 1.0700 and stabilized around 1.0650.
– GBPUSD lost 1.5% last week and stays below 1.2500 on Monday.
– Japanese Finance Minister Shunichi Suzuki is closely watching FX moves, particularly the broad Yen weakness.
– USDJPY closed the previous week higher and continued to push higher, trading at its highest level in over three decades near 154.00.
Multiplicity of taxes heavily burdening industrial sector
Fact: Nineteen to twenty different federal and provincial taxes are currently levied on industrial sector/manufacturing units in Pakistan, increasing their cost of doing business.
Israel’s Netanyahu vows victory after Iran strikes, fears of wider conflict grow
Israel’s Prime Minister Benjamin Netanyahu stated that his country would achieve victory after the military successfully shot down almost all of the more than 300 drones and missiles launched by Iran. The attacks by Tehran, in response to an Israeli air strike in Damascus that killed officers of the Islamic Revolutionary Guard Corps, raised the threat of a wider regional conflict. Netanyahu posted on social media that “together we shall win,” and the Israeli military reported that over 99% of the Iranian drones and missiles were intercepted. Israel is considering a significant response to the attack, which has escalated tensions in the region.
Kombos: Cyprus ready for talks, Turkish side imposing conditions
Fact: Foreign Minister Constantinos Kombos stated that President Nikos Christodoulides is ready to start talks on the Cyprus problem immediately.
National Council meeting shelved for , ‘when time is right’
The government has rebuffed calls to convene a National Council meeting amid secrecy surrounding the UNSG proposals that President Nikos Christodoulides has agreed to.
Hamas had instructions to use sexual violence as a weapon, Israeli lawyer tells Phileleftheros
An Israeli former Hamas hostage from the October 7 attack spoke out about the sexual violence and torture she endured. A UN report confirmed Israel’s allegations of ongoing sexual violence by Hamas. The victims of the attack are in the process of healing and dealing with their trauma. The Israeli government developed programmes to help survivors of the attack. Feminist organizations worldwide did not provide sufficient support to Israeli women who were victims of sexual violence. Israeli women did not receive necessary international support due to antisemitism and ignorance. It is crucial for women to stand united and demand justice for sexual violence in wartime. The Israeli army has been accused of sexual assaults against Palestinian women, but there is no evidence to justify the allegations. Hostages still in Hamas’s hands are subjected to sexual assaults, isolation, and poor living conditions.
Tatar reiterates need for sovereign equality in Guterres meeting (updated)
Fact: Turkish Cypriot leader Ersin Tatar stated that only a state solution can be the solution to the Cyprus problem during a meeting with the UN Secretary-General.
Israel approves reopening of Erez crossing into Gaza, use of Ashdod port for aid
Israel approved the reopening of the Erez crossing into northern Gaza and the temporary use of Ashdod port in southern Israel following U.S. demands to increase humanitarian aid supplies into Gaza. The decision was made after U.S. President Joe Biden demanded specific steps to alleviate the humanitarian crisis in Gaza and warned of potential conditions on U.S. aid if Israel did not respond. Israel also faced pressure after the killing of seven aid workers in an Israeli strike triggered global outrage. The move was welcomed by U.S. Secretary of State Antony Blinken, who emphasized the need to see results on the ground in Gaza. UNRWA urged Israel to do more to prevent famine in Gaza, while a senior Hamas official expressed concerns about potential delays in the implementation of aid. Israel has faced international pressure to assist civilians in Gaza and has previously blamed distribution problems on international agencies inside Gaza.