Source: BBC
Security & Justice
Mawlawi Ensures Strict Monitoring for Wanted Syrian Regime Figures at Beirut Airport
Caretaker Minister of Interior, Bassam Mawlawi, conducted an inspection tour of Rafic Hariri International Airport in Beirut to review the security arrangements and measures implemented by the Airport Security Apparatus ahead of the holiday season.
Thursday, December 19, 2024
Hezbollah Faces Internal Criticism Over Missing Fighters and Captured Prisoners
Hezbollah is grappling with increasing internal and external pressure as the fate of over 1,000 of its fighters remains uncertain following the recent war with Israel, Asharq al-Awsat newspaper revealed.
Thursday, December 19, 2024
Opinion
Lebanon After the Assads
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
Europe’s Syrian Dilemma
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Sports
Cristiano Ronaldo Unveils New Private Jet Worth $73 Million
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Guardiola Accepts Man City May Need to Sign More Players to Cope with Schedule
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 2024
Wednesday 6 November 2024 16:17:29
Dollar and Bitcoin Soar as Trump Wins Presidency
The US dollar has surged as Donald Trump is now projected to have won the presidency and will re-enter the White House.
Investors are betting that Trump's plan to cut taxes and raise tariffs will push up inflation and reduce the pace of interest rate cuts.
Higher rates for longer mean investors will get better returns on savings and investments they hold in dollars.
Bitcoin has also hit a record high, following Trump's election promise to make the US the "bitcoin and cryptocurrency capital of the world".
Markets and currencies around the world have shifted sharply following the US election news:
- The FTSE 100 index, comprising the largest companies listed in the UK, was up 1% on Wednesday afternoon
- The pound sank 1.41% against the US dollar to its lowest level since August
- The euro dived 2.24% against the US dollar to its lowest level since June
- The dollar rose by about 1.4% against a host of different currencies, including the pound, euro and the Japanese yen
- In Japan, the benchmark Nikkei 225 stock index ended the session up by 2.6%, while Australia's ASX 200 closed 0.8% higher
- In mainland China, the Shanghai Composite Index ended 0.1% lower, while Hong Kong's Hang Seng was down by around 2.23%
- The major US stock indexes are expected to jump when trading opens
Why is Bitcoin going up?
The value of Bitcoin jumped by $6,000 (£4,645) to an all-time high of $75,371.69.
Trump's stance on crypto is in stark contrast with that of the Biden administration, which has led a sweeping crackdown on crypto firms.
In the election campaign, Trump had suggested that he could fire Gary Gensler, the chair of US regulator the Securities and Exchange Commission, who has taken legal action against several crypto firms.
Trump has also said he plans to put billionaire Elon Musk in charge of an audit of governmental waste.
Mr Musk has long been a proponent of cryptocurrencies and his company Tesla famously invested $1.5bn in Bitcoin in 2021, although the price of the digital currency can be very volatile.
Tesla's Frankfurt-listed shares rallied over 14% at the open on Wednesday. Mr Musk, Tesla's top shareholder, has supported Trump throughout his electoral campaign.
Experts predicted a turbulent day elsewhere on financial markets, however, as a response to global uncertainty and Trump's potential plans for the economy.
US bond yields, the return a government promises to pay buyers of its debts, also soared on Wednesday.
A bond is essentially an IOU that can be traded in the financial markets and governments often sell bonds to investors when they want to borrow money.
Analysts have suggested this could be down to traders expecting that some of Trump's economic measures could lead to higher prices.
Donald Trump has said, for example, he would dramatically increase trade tariffs, especially on China, if he became the next US president.
Tariff impact
Some economists have warned that Trump's proposals around trade would come as a "shock" to the UK economy.
Ahmet Kaya, principal economist for the National Institute of Economic and Social Research (Niesr), said it could be "one of the countries most affected" under such plans.
It estimates that economic growth in the UK would slow to 0.4% in 2025, down from a forecast of 1.2%.
Katrina Ell, director of economic research at Moody's Analytics said: "Trump’s global trade policies are causing particular angst in Asia, given the strong protectionist platform on which more aggressive tariffs on imports into the US have been pledged."
Trump's more isolationist stance on foreign policy has also raised questions about his willingness to defend Taiwan against potential aggression from China.
The self-ruling island is a major producer of computer chips, which are crucial to the technology that drives the global economy.
Investors also have other key issues to focus on this week.
On Thursday, the US Federal Reserve is due to announce its latest decision on interest rates.
Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.
