Cypriots are pessimistic about the future, the economy, and geopolitical crises, but maintain trust in European institutions and the single currency. The two traditional political parties, DISY and AKEL, are expected to dominate the upcoming elections for members of the European Parliament, mayors, and councillors. DISY is in the lead for the election of the six MEPs with 20%, followed by AKEL with 19%.
Students at Sciences Po in Paris blocked access to the university in protest of Israel’s actions in Gaza, demanding the institution condemn Israel. Similar demonstrations have been taking place on U.S. campuses. The students displayed Palestinian flags and wore keffiyeh head scarves as a symbol of solidarity with Gaza. They hope their protest will spread to other universities and continue until the genocide in Gaza ends. Israeli forces have killed thousands of Palestinians in Gaza, prompting international outrage and protests.
U.S. Secretary of State Antony Blinken supports the protests at U.S. universities over the war in Gaza as a hallmark of American democracy. He criticized the “silence” about Palestinian militant group Hamas, urging critics to focus on them as the ones who sparked the conflict. Blinken met with Chinese officials to discuss their role in global crises, including calming tensions in the Middle East and discouraging Iran and its proxies from escalating the conflict. China is the main buyer of oil from Iran, which is under sanctions. They agreed to remain in regular contact on this issue.
The benchmark US crude oil Western Texas Intermediate (WTI) is trading higher around .60 on Friday due to potential geopolitical risk from a looming Israeli invasion of the southern Gaza city of Rafah.
Bitcoin is expected to hit fresh all-time highs in the coming months, with the CEO of deVere Group predicting that the cryptocurrency will surpass its previous record high of ,800. Factors such as the recent halving event reducing the supply of new Bitcoin issuance and the launch of new Bitcoin exchange-traded funds outside the US are expected to drive up the value of Bitcoin. The CEO believes that despite short-term fluctuations, Bitcoin’s long-term trajectory is upward and that it will achieve new price heights in 2024.
A major wildfire in the Limassol State Forest exposed a critical shortage of aerial firefighting resources in Cyprus. The fire, caused by improperly disarmed fireworks, led to ground crews bearing the brunt of firefighting efforts. The Republic of Cyprus currently has only one primary aerial asset, with reinforcements not expected until June. Minister of Agriculture Maria Panayiotou acknowledged the weakness in aerial capabilities and mentioned plans to purchase proprietary aerial assets instead of renting them. Various tenders are underway to secure more firefighting planes and helicopters, with assistance from other countries also being considered in case of large wildfires.
Israel has increased airstrikes on Rafah, killing at least six Palestinians, as part of their ongoing conflict with Hamas in the Gaza Strip. Israeli forces are preparing for an all-out assault on Hamas holdouts in Rafah, despite warnings from allies about potential mass casualties. Residents are fleeing the area, seeking safety in nearby locations, but many are uncertain about where to go. The conflict has resulted in significant civilian casualties and displacement, with the war now in its seventh month. Israel has vowed to eradicate Hamas, with the conflict showing no signs of abating.
Hezbollah fired rockets at an Israeli town and Israel responded with heavy airstrikes on a Lebanese town near the border. The hostilities between the two sides have escalated, with Hezbollah launching drone attacks on Israeli military bases. The violence has resulted in casualties on both sides, with more than 70 civilians killed in Lebanon and 18 people killed in Israel.
Israel is conducting an assault on Hamas in Rafah, the last Gaza Strip city not yet targeted by a ground offensive. The Israeli military is focusing its attacks on areas in the north of Gaza where they had previously withdrawn troops. Aid agencies have expressed concern over the potential humanitarian crisis in Rafah, where over 1 million people have been displaced. Israeli strikes in the past 24 hours have killed at least 79 Palestinians, with heavy shelling reported in northern Gaza and suburbs of Gaza City. Residents are questioning the reasons for the renewed violence, with one resident suggesting it may be due to aid finally reaching the area. The Israeli military has not provided immediate comment on the recent developments.
Columbia University students agreed to take down a significant number of tents set up on the school’s main campus as part of a protest against Israel’s incursion into Gaza. The university agreed to extend the deadline for the encampment to be dismantled, citing significant progress in negotiations. The protesters had demanded disclosure and divestment of financial holdings supporting the war in Gaza and amnesty for suspended students. Columbia also required that non-affiliated individuals leave campus and that all activities comply with fire safety rules.