5 Minutes Read

Israel Iran war live updates: IAEA says ‘nuclear facilities should never be a target in military conflicts’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Vienna-based International Atomic Energy Agency, a United Nations agency that promotes the peaceful use of nuclear energy and aims to prevent the proliferation of nuclear weapons, called for ‘extreme restraint for everybody’ adding that “nuclear facilities should never be a target in military conflicts”

Israeli missiles targeted a site in Iran, as confirmed by a US official, according to a report from ABC News on Thursday. This comes shortly after Iran responded to an attack on its embassy in Syria with a drone strike against Israel.

Fars news agency in Iran reported an explosion at an airport in Isfahan, though the cause remains unclear. Isfahan province hosts several crucial nuclear sites, including Natanz, which is vital to Iran’s uranium enrichment program.

However, an Iranian official told Reuters that the explosion were a result of activation of Iran’s air defence systems, and that no missile attack was carried out against Iran.

CNN noted that several flights were rerouted over Iranian airspace amidst escalating tensions. Over the past weekend, Iran launched a barrage of drones and missiles in retaliation for a suspected Israeli strike on its embassy in Syria. The majority of these projectiles were intercepted before reaching Israeli territory.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US and Britain announce new Iran sanctions after missile and drone strike on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

US President Joe Biden said G7 leaders were committed to acting together to increase economic pressure on Tehran. Britain announced that it was also introducing sanctions on Iran in co-ordination with Washington.

The United States on Thursday announced new sanctions on Iran targeting its unmanned aerial vehicle production after its attack on Israel, and US.

US President Joe Biden said G7 leaders were committed to acting together to increase economic pressure on Tehran. Britain announced that it was also introducing sanctions on Iran in co-ordination with Washington.

Biden said the United States and its allies had helped Israel beat back the April 13 missile and drone strike and were now holding Iran accountable with the new sanctions and export controls.

“The sanctions target leaders and entities connected to the Islamic Revolutionary Guard Corps, Iran’s Defense Ministry, and the Iranian government’s missile and drone program that enabled this brazen assault,” Biden said in a statement.
British Foreign Secretary David Cameron called Iran’s behavior “unacceptable.”

“(It) is a message to Israel that we want to play our part in having a coordinated strategy that deals with Iran’s aggression,” Cameron said on the sidelines of a meeting of foreign ministers from the Group of Seven (G7) major Western powers in Italy.

Israel has said it will retaliate against Iran’s unprecedented launch of missiles and drones, while a senior Iranian Revolutionary Guards commander said on Thursday Iran could review its “nuclear doctrine” following Israeli threats.

Sanction targets 

Treasury said it was also designating five companies in multiple jurisdictions providing component materials for steel production to Iran’s Khuzestan Steel Company (KSC), one of Iran’s largest steel producers, or purchasing KSC’s finished steel products.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Israel drones target air base near Iran’s largest nuclear facility

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Iranian officials confirmed an attempted attack on a military base in Ifsahan,the city that is home to Iran’s largest nuclear research centre, and believed to be the base for the country’s nuclear weapons programme.

Drones sent by Israel struck an air base near Ifsahan, which has the country’s largest nuclear research centre, according to officials from Iran who spoke to the New York Times.

Officials in Tehran said that there were no damages from the strike and that nuclear facility was ‘completely secure’. The International Atomic Energy Agency (IAEA), which confirmed Iran’s claim, urged that “nuclear facilities should never be a target in military conflicts,” according to a report from AFP, an international news agency.

However, the risk of a further escalation pushed investors to safe haven bets like the US treasuries, Swiss Franc and the US dollar.

Reports of explosions near the Isfahan airport emerged just minutes after unnamed US officials told the Australian broadcaster ABC that Israel had fired missiles on one Iran site.

However, the Iranian officials didn’t explicitly name the country behind the attack in Ifsahan.
Israeli Air Force F-15 Eagle is pictured at an air base, said to be following an interception mission of an Iranian drone and missile attack on Israel, in this handout image released April 14, 2024. Israel Defense Forces./Reuters
Israeli Air Force F-15 Eagle is pictured at an air base, said to be following an interception mission of an Iranian drone and missile attack on Israel, in this handout image released April 14, 2024. Israel Defense Forces./Reuters
The nuclear facility in Ifsahan, built with assistance from China, is believed to be the centre of Iran’s nuclear weapons programme, according to the Nuclear Threat Initiative, which describes itself as a nonprofit, nonpartisan global security organisation.

The risk of a nuclear war

Iran had earlier warned that it may change its stance on nuclear war if there was Israel attacked its sites. “The nuclear facilities of the Zionist enemy have been identified and all the necessary information from all targets is at our disposal,” said the IRGC’s Brigadier General Ahmad Haghtalab, according to an Al Jazeera report earlier.

“Hands are on the trigger to fire powerful missiles for the total destruction of determined targets,” he added. While Israel has never admitted to owning nuclear weapons, it is widely believed that it has them.

Earlier, some Iranian officials denied any missile attack, in a conversation with Reuters. Hossein Dalirian, the spokesperson for Iran’s space agency, described it “as a failed attack with a few quadcopters” in a tweet.

Sirens were sounded off earlier in the day in Northern Israel, which shares a border with Lebanon, according to a Reuters report. The Sirens indicate that the Israeli army expects a hostile aircraft or missile to enter its territory.

The yield on US treasuries shrank by 14 basis points after the Israeli attack on Iran, according to Bloomberg data.

Meanwhile, gold prices crossed $2,400 an ounce. Brent Crude oil jumped back above $90 a barrel soon after the reports of explosions in Iran.

The Saturday attack from Iran was in response to the death of senior military officials from the country in an attack that targetted a diplomatic compound in Damascus, the capital of Syria.

Israel did not claim responsibility for the attack in Syria but the establishment in Tehran believes it as an act by its rival in Tel Aviv or on behalf of it. Israeli Prime Minister Benjamin Netanyahu had said that Israel has the right to protect itself and that a retaliatory attack from Israeli forces was imminent.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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S&P downgrades Israel rating on heightened geopolitical risk

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

All three major rating firms have put out warnings on Israel’s credit score since the onset of the war with Hamas.

Israel received its first-ever sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region.

The nation was cut by one notch to the fifth-highest score and on a par with Bermuda and China. The outlook remains negative.

“The recent increase in confrontation with Iran heightens already elevated geopolitical risks for Israel,” the statement said.

The rating company said a wider regional conflict was not its baseline scenario, but could have a further material negative impact on Israel’s security situation. That would then impact its economic, fiscal, and balance-of-payments parameters.

All three major rating firms have put out warnings on Israel’s credit score since the onset of the war with Hamas. On October 25, S&P became the last to revise the outlook to negative on risks the conflict spreads into the country. Fitch Ratings and Moody’s Investors Service had already placed the nation’s credit score on negative watch and on review for downgrade, respectively.

Tensions in the region have intensified since Iran launched a barrage of drones and missiles on Israel in response to a strike in Syria that killed several Iranian officers on April 1. Tehran is bracing for a potential Israeli retaliation.

S&P forecast that Israel’s general government deficit will widen to 8% of gross domestic product in 2024, mostly as a result of increased defense spending. It expects higher deficits to persist over the medium term and net general government debt to peak at 66% of GDP in 2026.

The shekel has tumbled since Hamas staged the attacks on October 7, posting the longest streak of declines since 1984. The cost of hedging against losses has soared as traders brace for the next phase of the war, undaunted by the central bank’s resolve to defend the currency.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Turkey President Recep Tayyip Erdogan to host Hamas leader Ismail Haniyeh over the weekend: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Earlier this week, Erdogan also said that Israel’s prime minister Benjamin Netanyahu and the Israeli leadership were solely responsible for th erecent escalation of tensions in the Middle East.

Turkey President Recep Tayyip Erdogan on Wednesday said he will be hosting Hamas leader Ismail Haniyeh over the weekend, news agency AFP reported.

Earlier this week, Erdogan also said that Israel’s prime minister Benjamin Netanyahu and the Israeli leadership were solely responsible for th erecent escalation of tensions in the Middle East.

“Israel is trying to provoke a regional conflict, and its attack on Iran’s embassy in Damascus was the last drop,” he told a press conference in Ankara after a cabinet meeting.

He added that new regional conflicts were possible as long as the “cruelty and genocide” in Gaza continued, and called on all parties to act with common sense. He also slammed the West for condemning Iran’s attack but not Israel’s strike on Iran’s embassy.

Iran attacked Israel with hundreds of explosive drones, cruise missiles and ballistic missiles launched on Saturday night, to which Israeli officials have vowed to respond.

Iran called the barrage retaliation for an Israeli strike that flattened a building in its embassy compound in Damascus on April 1 and killed two of its generals and several other officers.

With inputs from Reuters

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US Congress moving swiftly on bipartisan action to punish Iran after revenge attack on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Several measures introduced and passed in the House and Senate seek to both publicly condemn Iran and punish the Islamic Republic financially. Lawmakers have denounced Iran’s actions, which came in response to a suspected Israeli strike weeks earlier on an Iranian consular building in Syria that killed two Iranian generals.

Iran’s attack against Israel over the weekend has spurred a flurry of bipartisan legislative action in Congress, uniting lawmakers against the country even as the risk of a larger regional war looms.

Several measures introduced and passed in the House and Senate seek to both publicly condemn Iran and punish the Islamic Republic financially. Lawmakers have denounced Iran’s actions, which came in response to a suspected Israeli strike weeks earlier on an Iranian consular building in Syria that killed two Iranian generals.

“The world is on fire, and history will judge us for our action,” said Rep. Mike McCaul, R-Texas, chairman of the House Foreign Relations Committee, during a news conference Tuesday.

The swift, bipartisan condemnation of Iran has put on sharp display the durability of American support for Israel, even amid growing partisan division over how the country is handling its more than six-month war with Hamas.

The House passed nearly a dozen bills by Wednesday that would, among other things, issue a slate of new sanctions and other financial restrictions against Iran and its leaders. Other legislation looks to prevent current Iranian officials sanctioned from evading those penalties and urge the European Union to “expeditiously” designate Iran’s Revolutionary Guard as a terrorist organization as the U.S. has already done.

On the other side of the Capitol, the Senate Foreign Relations Committee on Tuesday advanced five bills, including ones that targeted Iran for its human rights record and would require sanctions on ports and refineries that receive and process Iranian oil.

“Iran’s direct attack on Israel this week underscores the need to further cut off the Iranian regime’s key revenue streams,” Democratic Sen. Jeanne Shaheen of New Hampshire said in a statement. “I urge my colleagues in the Senate to support this bill — which has already passed the House — so that we can send it to President Biden’s desk immediately.”

A number of the bills had passed the House weeks before Hamas’ deadly attack on Israel in October but have been stalled in the Senate committee. An Israeli offensive in Gaza has since caused widespread devastation and killed over 33,000 people, according to local health officials. Israel’s conduct of the war has revealed the depth of unease among U.S. lawmakers as concerns over the delivery of humanitarian aid to Gaza have caused even some of President Joe Biden’s closest allies to threaten conditioning future aid to Israel.

Congressional Democrats have been reluctant to challenge Biden’s handling of the ongoing conflict and related regional tensions that have taken shape, mindful that criticism could further weaken Biden in his reelection campaign against former President Donald Trump.

But the attack on Saturday has proven to consolidate public support for the Biden administration’s quick response as it ordered U.S. forces to help Israel down “nearly all” the 300 drones and missiles that were headed its way.

It also comes as House Speaker Mike Johnson, R-La., released legislation Wednesday that would provide $95 billion in aid collectively to Israel, Ukraine and Taiwan. The aid package had been held up for months over Republican opposition to continuing wartime funding for Ukraine as it battles Russia. Iran’s attack on Israel added urgency to Johnson’s plans to bring the issue to the floor for a vote.

While the measures targeting Iran have received overwhelming support — with the series of House bills mostly passing with at least 300 votes — there has been a quiet but growing dissent among progressive Democratic lawmakers in both chambers, who warn that legislative efforts could risk further escalation in the Middle East.

“Following last weekend’s unprecedented response by Iran to Israel’s attack on its consulate, the Republican Majority is explicitly leveraging a series of bills to further escalate tensions in the Middle East,” Rep. Alexandria Ocasio-Cortez, D-N.Y., said in a statement Tuesday. “This is a blatant attempt to distract from their own incompetence.”

The strike on Saturday marked the first time Iran has launched a direct military assault on Israel despite decades of enmity dating back to the country’s 1979 Islamic Revolution. Israel has vowed to retaliate against Iran, risking further expanding the shadow war between the two foes into a direct conflict.

Sen. Bernie Sanders, a Vermont independent, condemned Iran’s attack in a statement but called on his colleagues to respond cautiously. He warned that further U.S. action against Iran could lead to a dangerous escalation that could drag America into a war in the Middle East.

“Cooler heads must now prevail to ensure peace in the region and security for Israel,” Sanders said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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EU leaders back new Iran sanctions after attack on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The summit in Brussels is the first meeting of the EU’s 27 national leaders since Saturday’s attack, more than six months into the war between Israel and the Iran-backed Palestinian militant group Hamas.

European Union leaders decided on Wednesday to step up sanctions against Iran after Tehran’s missile and drone attack on Israel left world powers scrambling to prevent a wider conflict in the Middle East.

The summit in Brussels is the first meeting of the EU’s 27 national leaders since Saturday’s attack, more than six months into the war between Israel and the Iran-backed Palestinian militant group Hamas.

Israel has signalled it will retaliate but has not said how. EU leaders condemned the Iranian attack, reaffirmed their commitment to Israel’s security and called on all sides to prevent more tensions, including in Lebanon.

“We feel it’s very important to do everything to isolate Iran,” said summit chairman Charles Michel, adding the new sanctions against the Islamic Republic would target companies involved in the production of drones and missiles.

German Chancellor Olaf Scholz said it was important that Israel “does not respond with a massive attack of its own.”

Italy spoke separately ahead of G7 talks in favour of sanctions against arms suppliers linked to the attack against Israel, as well as those behind attacks on ships in the Red Sea.

Iran launched its assault in response to an April 1 strike on its embassy in Damascus which it blamed on Israel. Tel Aviv started its broader military offensive in Gaza after Hamas’ deadly attack on Israel on Oct. 7.

Israel and Ukraine 

EU foreign ministers are due to continue the sanctions work on Monday as the United States and its Western allies hope new steps against Iran will help limit any Israeli retaliation.

The EU already has multiple programmes that target Iran for human rights abuses, the proliferation of weapons of mass destruction, and Tehran’s support for Russia’s war in Ukraine.

Germany, France and several EU states are looking at expanding a scheme that seeks to curb the supply of Iranian drones to Russia to include the provision of missiles and cover deliveries to Iranian proxies in the Middle East.

Belgium backed introducing sanctions against Iran’s Revolutionary Guard Corps but Scholz said that required further legal checks. The bloc’s top diplomat has said that could only happen if a national authority in the EU found that the group had been involved in terrorist activity.

Analysts say Iran is unlikely to face more severe economic punishment because of worries about boosting oil prices and angering top buyer China.

With the Middle East capturing much of the EU’s attention, Ukraine’s President Volodymyr Zelenskiy appealed for more help in holding the line against Russia, which unleashed an invasion against its neighbour more than two years ago.

“Here in Ukraine, in our part of Europe, unfortunately, we do not have the level of defence that we all saw in the Middle East a few days ago,” Zelenskiy told the summit, after Israel and allies mostly shot down the incoming drones and missiles.

“It reflects our current key need – the need for air defence,” he said, according to an EU official, repeating his calls for speedier deliveries of the weapons and ammunition previously promised to Ukraine.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Israel will defend itself, Benjamin Netanyahu says, as West calls for restraint

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Iran attacked in retaliation for a suspected Israeli airstrike on its embassy compound in Damascus on April 1. Israel and its allies mostly shot down all missiles and drones and there were no deaths, but Israel says it must retaliate to preserve the credibility of its deterrents. Iran says it views the matter as closed but will retaliate again if Israel does.

Israel will make its own decisions about how to defend itself, Prime Minister Benjamin Netanyahu said on Wednesday, as Western countries pleaded for restraint in responding to a volley of attacks from Iran.

The United States, European Union and G7 group of industrialised nations all announced plans to consider tighter sanctions on Iran, seen as aimed at mollifying Israel and persuading it to rein in its retaliation for the first ever direct Iranian strikes after decades of confrontation by proxy.

Iran attacked in retaliation for a suspected Israeli airstrike on its embassy compound in Damascus on April 1. Israel and its allies mostly shot down all missiles and drones and there were no deaths, but Israel says it must retaliate to preserve the credibility of its deterrents. Iran says it views the matter as closed but will retaliate again if Israel does.

Israel’s Air Force said late on Wednesday its fighter jets had struck the “terrorist infrastructure” of Iran-backed Hezbollah in eastern Lebanon, stoking concerns about a further escalation in clashes across Israel’s northern border.

Earlier, Netanyahu met the German and British foreign ministers, who both travelled to Israel as part of a coordinated push to keep confrontation between Israel and Iran from escalating into a regional conflict fueled by the Gaza war.

Netanyahu’s office said he thanked Annalena Baerbock and David Cameron for their support, while telling them: “I want to make it clear – we will make our own decisions, and the State of Israel will do everything necessary to defend itself.”

Earlier, Cameron said it was now apparent Israel planned to retaliate for the Iranian missile and drone strikes.

Baerbock said escalation “would serve no one, not Israel’s security, not the many dozens of hostages still in the hands of Hamas, not the suffering population of Gaza, not the many people in Iran who are themselves suffering under the regime…”

More than six months into the Gaza war between Israel and the Iran-backed Palestinian militant group Hamas that has seen flare-ups across the Middle East, diplomats are searching for a way to avert direct battle between Israel and Iran.

Jordan added to the calls for restraint, warning of a war that could be “devastating” for the region.

“The risks are enormous. That could drag the whole region into war, which would be devastating to us in the region and we’ll have very, very serious implications for the rest of the world including the U.S,” Foreign Minister Ayman Safadi said. “The situation is too dangerous. The chances of regional explosion are real, and that has got to stop. We’ve got to make sure there’s no further escalation.”

Washington says it is planning to impose new sanctions targeting Iran’s missile and drone programme in coming days and expects its allies will follow suit.

EU leaders were due to discuss sanctions at summit in Brussels, as were G7 foreign ministers meeting in Italy.

‘Stop the war! Stop the war!’

Since Hamas fighters triggered the war in Gaza by attacking southern Israel, killing 1,200 people and capturing 253 hostages according to Israeli tallies, clashes have erupted between Israel and Iran-aligned groups based in Lebanon, Syria, Yemen and Iraq.

Inside Gaza, Israel has launched a massive air and ground assault, with nearly 34,000 people confirmed killed, according to Palestinian medics, and thousands of others feared dead, still lost among the ruins.

This month, Israel abruptly pulled most of its troops out of southern Gaza, site of most of the heaviest fighting since the start of the year.

Fighting in recent days has been focused in central Gaza, in the Nuseirat refugee camp north of Deir al-Balah, one of the few areas that Israeli troops have yet to storm. Israeli forces retreated from the camp late on Wednesday, residents and some Israeli media said.

At a hospital morgue in Deir al-Balah, members of the al-Nouri family bellowed in sorrow and anger over bodies in body bags, several the size of small children, in video obtained by Reuters. Authorities said 11 people had been killed in an Israeli strike on the family home on Tuesday.

“Oh people of the world, what is happening is wrong! Have mercy on us! Stop the war!… Children are dying in the streets!” a man cried inside the crowded hospital.

In the southern city of Rafah, an Israeli airstrike on a house killed seven Palestinians, including a woman and three children, medics said.

Elsewhere, Hamas media reported Israeli forces had withdrawn from Beit Hanoun in northern Gaza after a 36-hour raid there.

On Israel’s northern border with Lebanon, where cross-border battles between Israeli forces and the Iran-aligned Hezbollah movement pose an escalation risk, Hezbollah said it had launched missiles and drones at a military facility in northern Israel in retaliation for Israeli strikes that killed Hezbollah members.

Israel said 14 of its soldiers were hurt in the incident, six of them seriously.

Israel says it will discuss a pause to free hostages but will not stop fighting until Hamas is wiped out; Hamas says it will not release hostages without a truce leading to an end to the war.

Qatar, which has served as mediator, said negotiations were at a delicate phase. It later said it was re-evaluating its own role as mediator, citing concerns that its efforts were being undermined by those pursuing “narrow political interests”.

With the prospect of famine looming, the United States and Israel say access for aid has improved this month. But aid agencies say supplies of food and medicine are still too paltry to stave off disaster.

“Across Gaza, a man-made famine is tightening its grip,” Philippe Lazzarini, head of the United Nations Palestinian refugee agency UNRWA told the 15-member UN Security Council. “In the north, infants and young children have begun to die of malnutrition and dehydration. Across the border, food and clean water wait.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Nomura’s Sonal Varma discusses the triple threats facing India and other EMs

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The MD and Chief Economist for India at Nomura Financial Advisory and Securities (India), says the uncertainty is quite high and risks have increased, but they are in a wait and watch mode for now.

Sonal Varma, MD and Chief Economist for India and Asia excluding Japan at Nomura Financial Advisory and Securities (India), identifies three major threats facing India and other emerging markets: the volatility and uncertain future direction of oil prices; the persistent high interest rates in the US, with ongoing debates about whether the Federal Reserve will cut rates this year; and the impact of a stronger dollar on capital flows and currency stability.

“If the uncertainty and tight financial conditions continue for a longer period then there would be some downside risk to growth over the medium-term,” Varma said.

But India has a couple of buffers in place in terms of foreign exchange reserves.

India’s forex reserves hit a new high of $648.562 billion for the week ending April 5, marking a $2.98 billion increase, as per the Reserve Bank of India.

“I would say until at least $100-$110 per barrel on Brent, we don’t think the pass through domestically to consumers is going to happen. So, uncertainty is quite high risks have increased, but still in a wait and watch mode for now,” she said.

Oil gained as Israel vowed to respond to an unprecedented attack by Iran, keeping tensions elevated in the Middle East.

Global benchmark Brent climbed toward $91 a barrel after a modest drop on Monday, while West Texas Intermediate was near $86.

Also Read | World united on how Israel should respond to Iran attack

On oil prices, Varma says, the current base case is that Brent oil prices will stay around $90 per barrel if the Middle-Eastern situation does not escalate.

She pointed out that as far as India’s macro sensitivities are concerned, every 10% increase in oil prices has roughly around 30 basis point impact on inflation, about 15 basis point on growth, and around 30 to 40 basis point on the current account balance.

One basis point is one-hundredth of a percentage point or 0.01%.

However, the spillover from higher oil prices to inflation is not currently clear as oil marketing companies are likely to absorb some of the price increase initially.

Madan Sabnavis, Chief Economist at Bank of Baroda (BoB). concurred with Varma that there is high probability of oil prices staying in the $90 per barrel range.

Also Read | Oil prices see muted open after Iran’s strike against Israel

DP Srivastava, Former Ambassador to Iran, who also participated in the discussion with Varma noted, “In a war situation, neither side can anticipate what the other side can do. In case the Israel takes US’ advice and does not retaliate or does a symbolic action, the situation will subside but in case it decides to up the ante, there will be a counter strike by Iran.”

Also Read | Iran-Israel conflict: Experts call for diplomatic solution

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US House speaker plans separate votes on Israel, Ukraine aid

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The move could end a months-long Republican roadblock on help for Kyiv while also responding to Iran’s missile and drone attack in Israel over the weekend.

Speaker Mike Johnson plans separate House votes this week on new aid to Israel and Ukraine, in an attempt to assemble fragile coalitions to speed weaponry to both besieged allies.

The move could end a months-long Republican roadblock on help for Kyiv while also responding to Iran’s missile and drone attack in Israel over the weekend.

The maneuver taps urgency among many US lawmakers to show solidarity with Israel in the wake of the attack while testing the determination of ultraconservatives to block Ukraine aid. Hardline Republican Marjorie Taylor Greene of Georgia has threatened to force a vote on deposing the speaker if the House considers any Ukraine aid.

The speaker’s decision to vote on Ukraine aid greatly boosts the chances of resolving a congressional impasse that has dragged on since October, when President Joe Biden requested emergency assistance for Kyiv’s fight against a Russian invasion.

Ultra-conservatives have balked at Ukraine spending, which has been widely supported by Democrats. Progressives, meanwhile, oppose funding to Israel without restrictions but have pushed to get Ukraine needed aid quickly. Taiwan funding generally has support in both parties.

Republican Representative Kevin Hern described the plan after Johnson announced it in a closed-door meeting of Republicans and multiple Republicans quickly confirmed the details.

“He’s doing the right thing,” said Hern, head of the Republican Study Committee, the largest group of House conservatives.

Johnson’s influence over the fractious House Republican majority is newly strengthened by presumptive Republican presidential nominee Donald Trump, who offered a public show of support for the speaker in a joint appearance Friday at Trump’s Mar-a-Lago resort in Palm Beach, Florida.

The House would vote separately on an aid package for Taiwan under Johnson’s plan.

A fourth bill would contain a variety of national security measures including seizing Russian assets and may also expedite natural gas exports.

Representative Andy Biggs of Arizona, an ultraconservative, said he approved of Johnsons’ choice to break up the aid decisions into separate bills.

The Senate passed a $95 billion aid package in February combining assistance to Ukraine, Israel and Taiwan.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?