Syria won’t wait for global community to reform economy: Finance Minister

Syria is in a hurry to rebuild its war-torn economy and will not wait for the international community to begin making those changes, the country’s finance minister said Wednesday.Mohammed Yisr Barnieh, who spoke at the International Monetary Fund in Washington, was part of Syria’s first delegation to the Fund and the World Bank’s semi-annual gathering of central bank governors and finance ministers since the Syrian civil war broke out in 2011.Barnieh serves as finance minister in the country’s transitional government, set up earlier this year by Ahmed al-Sharaa after his Islamist forces ousted Syria’s long-serving strongman Bashar al-Assad.Without the IMF and other international financial institutions, Syria “cannot move ahead,” Barnieh said. “But if you are slow, we will move without you.””What we need from the IMF and World Bank is capacity building, knowledge transfer, technology, know how, expertise and so on,” he said. “We don’t need money from them.””I’m not excluding borrowing down the road, but now we have no intention whatsoever,” he added. “We want to make sure that our house (is) in order.”Syria’s government faces a monumental challenge in rebuilding the country’s war-torn economy after more than 15 years of civil war — something Barnieh estimated would likely cost “tens of billions” of dollars. Barnieh said his immediate priorities were to restore “confidence and trust” with both the public and the private sector.This, he added, included a focus on restoring fiscal credibility, simplifying Syria’s overly complex taxation system, and tackling its huge debt burden.”If you look at our reform agenda now, every single piece of reform is focused on how to create the ecosystem to support the private sectors and how to create the ecosystem to support attracting foreign investment,” he said. “I’m sure one day, everybody will realize that Syria is a good place to invest,” he continued. “My message is: Do not wait…It will take quite some time, but then the opportunity will be missed.”Addressing the US-Syria relationship, Barnieh said it was improving every day, and that Syria was moving ahead with reforms despite ongoing sanctions. “We are very optimistic about the Syria-US relationship, and we are very optimistic of seeing American companies, American banks, American and international organizations in Syria,” he said.

Wall Street tirée par la Fed et les résultats d’entreprises

La Bourse de New York a terminé sur une note positive mercredi, poussée par la perspective de baisses des taux de la Fed après des propos de son patron et par des résultats trimestriels jugés encourageants.L’indice Nasdaq a gagné 0,66% et l’indice élargi S&P 500 a progressé de 0,40%. Le Dow Jones a clôturé proche de l’équilibre (-0,04%).”Il y a un optimisme continu quant à un assouplissement monétaire” de la Réserve Fédérale (Fed), résume auprès de l’AFP Patrick O’Hare, de Briefing.com.M. Powell a fait part mardi de sa préoccupation face à l’atonie du marché du travail aux Etats-Unis, à deux semaines de la prochaine réunion de l’institution monétaire à l’issue de laquelle une baisse des taux est attendue.”Il n’y avait rien dans le discours de Jerome Powell (le président de la Fed, ndlr) hier qui puisse dissuader le marché de penser que ces baisses de taux sont imminentes”, note M. O’Hare.En outre, la publication mercredi du “Livre beige” de la Fed, une enquête régulière basée sur les remontées d’acteurs économiques, a renforcé ces attentes.Le rapport “confirme l’évaluation des responsables de la Fed selon laquelle la balance des risques penche toujours davantage vers un affaiblissement des conditions du marché du travail”, selon Nancy Vanden Houten, d’Oxford Economics et “pointe vers une baisse des taux en octobre”, les ramenant dans une fourchette comprise entre 3,75% et 4,00%.Côté commercial, “les préoccupations entre la Chine et les Etats-Unis persistent”, notent les analystes de Briefing.com.Le ministre des Finances Scott Bessent a affirmé mercredi que, selon ses informations, le président Donald Trump comptait toujours rencontrer prochainement son homologue chinois.Sur le marché obligataire, le rendement à échéance dix ans des emprunts de l’Etat américain restait stable par rapport à la veille en clôture, à 4,03% vers 20H30 GMT.Au tableau des valeurs, la saison des résultats bat son plein, et “le secteur financier affiche d’excellentes publications”, souligne M. O’Hare.Bank of America (+4,41% à 52,30 dollars) a fait mieux qu’attendu au troisième trimestre avec un chiffre d’affaires en nette hausse, qui a atteint 28,1 milliards de dollars (+11% sur un an), grâce au dynamisme des marchés financiers et à l’arrivée de nouveaux clients.Morgan Stanley (+4,74% à 162,70 dollars) a aussi publié mercredi des résultats nettement supérieurs aux attentes du marché, sous l’effet d’une reprise de l’activité dans le secteur des fusions-acquisitions et levées de capitaux.La veille JP Morgan Chase, Goldman Sachs, Citigroup et Wells Fargo avaient aussi fait mieux qu’escompté.Le fabricant néerlandais de machines de pointe pour le secteur des semiconducteurs ASML a été recherché (+2,71% à 1.009,81 dollars) après avoir publié mercredi un bénéfice net stable au troisième trimestre en glissement annuel et a annoncé s’attendre à une baisse significative de ses ventes en Chine l’année prochaine.L’action du groupe américain de semiconducteurs Advanced Micro Devices (+9,40% à 238,60 dollars) a continué de profiter de l’annonce lundi dernier d’une commande géante de puces électroniques par le pionnier de l’intelligence artificielle OpenAI.Le laboratoire pharmaceutique Abbott Laboratories a été boudé (-2,39% à 129,51 dollars) après être passé à côté de ses prévisions trimestrielles. 

Inceste: sept ans de prison pour les viols de six mineures

Un homme de 46 ans a été condamné mercredi à sept ans de prison par la cour criminelle de l’Allier pour avoir violé sa soeur, ses trois demi-soeurs et ses deux cousines lorsqu’elles étaient mineures, ont indiqué des avocates.Le verdict est très inférieur à la peine de treize ans de réclusion requise par le ministère public, lors de l’audience qui se tenait à huis-clos.”Il ne fera pas appel”, a déclaré l’avocate de cet homme, Me Catherine Etard-Gallot.”C’est incompréhensible pour les victimes car ce n’est pas dissuasif. Elles disent que leur vie est brisée alors que les conséquences pour lui sont nulles, cela donne le sentiment d’une peine symbolique”, a estimé pour sa part Me Vanessa Frasson, avocate des trois demi-sœurs, âgées aujourd’hui de 36, 38 et 40 ans.Une victime a fondu en larmes, d’autres sont en colère à l’issue de ce verdict, a-t-elle ajouté.La peine avec exécution provisoire, accompagnée de cinq ans de suivi socio-judiciaire, a été prononcée avec mandat de dépôt à effet différé, a précisé Me Etard-Gallot. Cela signifie qu’il sera convoqué pour être incarcéré.L’homme était jugé pour des viols et agressions sexuelles commis à partir de 1997, jusqu’en 2009 mais les faits n’ont été révélés qu’en 2020.Les victimes ont expliqué avoir subi des violences sexuelles pour certaines très jeunes, dès l’âge de neuf ans, et parfois jusqu’à leur majorité. Selon elles, leur frère ou cousin les menaçait, leur offrait de l’argent, des cadeaux ou des bonbons pour les faire taire.Lors de l’interrogatoire au fond mercredi matin, l’homme a été confronté au discours des victimes et a indiqué que même s’il ne se souvenait pas de tout ce dont elles l’accusent, elles ne pouvaient pas mentir et qu’il était “plausible qu’il ait commis ces viols”, a expliqué Me Etard-Gallot. “Il a formulé des excuses sincères, leur souhaitant d’avoir la force de se reconstruire, même s’il a conscience qu’il n’est pas pardonnable”, a-t-elle ajouté.Veste bleu marine, barbe de trois jours, légèrement voûté, l’homme marié et père de deux enfants avait décliné son identité à l’ouverture de son procès lundi, avant que la présidente n’ordonne le huis clos, selon la volonté de certaines parties civiles.”Le terreau incestuel sur plusieurs générations ainsi que la violence physique et les actes sexuels dont il a été victime par son père ont créé un adolescent déstructuré”, a réagi son avocate, dénonçant des “actes non cadrés par une réaction parentale qui savait depuis des années et alimentait l’omerta familiale”.L’affaire a éclaté en 2020 lorsque l’une des trois demi-soeurs a révélé avoir été agressée de 10 à 14 ans.La première à déposer plainte en novembre 2020 est une autre sœur de l’accusé, plus âgée, mais les faits étaient prescrits. Six autres plaintes ont suivi pour des violences, elles, non prescrites.

Stocks rise on US rate cut hopes, strong company earnings

Stocks mostly rose and the dollar retreated Wednesday on hopes for further US interest rate cuts and a solid set of company earnings.Gold surged to a new high above $4,200 an ounce, boosted also by a fresh flare-up in China-US tensions.The dollar was weighed down by warnings on Tuesday from Federal Reserve boss Jerome Powell on risks to the US labor market, reinforcing expectations the central bank will cut rates at its October meeting.”There was nothing in yesterday’s speech to kind of dissuade the market from thinking those rate cuts are coming, and so that was deemed a positive component,” said Briefing.com analyst Patrick O’Hare.Wall Street stocks spent most of the day in positive territory with both the S&P 500 and Nasdaq ending up. The Dow retreated modestly.Both Bank of America and Morgan Stanley rose decisively following good earnings reports. On Wednesday, the Fed’s “Beige Book” survey of conditions around the United States also pointed to job market deterioration, with most districts reporting a greater number of firms lowering employment.Paris surged more than two percent after the world’s biggest luxury group LVMH beat earnings expectations, triggering a rally across the sector.LVMH shares soared more than 12 percent, while shares in Hermes jumped 7.2 percent and Gucci-owner Kering rose 5.4 percent. Shares in Burberry climbed over three percent in London.”Luxury goods demand has been in something of a tailspin of late, but LVMH has reported signs of easing pressures,” said Steve Clayton, head of equity funds at Hargreaves Lansdown.Investors also hoped for an end to France’s political turmoil after Prime Minister Sebastien Lecornu backed the suspension of an unpopular 2023 pensions overhaul to bolster his cabinet’s survival.Frankfurt and London both finished the day in the red.Sentiment in the tech sector was lifted by Dutch tech giant ASML reporting solid sales and orders on its semiconductor machines.Its shares climbed 3.4 percent in Amsterdam even as it warned of a steep fall in its China business next year.Asian markets rallied, with Seoul jumping 2.7 percent while Hong Kong, Shanghai, Tokyo all closed more than one percent higher.The gains came despite data showing that Chinese consumer prices fell in September, a sign that the world’s second-largest economy still faces weak consumer activity.Investors also tracked the latest trade salvos between Washington and Beijing, with US President Donald Trump last week threatening 100-percent tariffs in retaliation to China’s new export controls on rare earths.China appeared to stoke the row Tuesday by imposing sanctions on five American subsidiaries of South Korean shipbuilder Hanwha Ocean, accusing them of supporting Washington’s investigation into the shipping industry.Trump later threatened to stop purchases of Chinese cooking oil in retaliation for Beijing’s halt of US soybeans.”The rebound in risk appetite has continued across the board today, shrugging off any further spat between the US and China, this time over cooking oil,” said Chris Beauchamp, chief market analyst at trading platform IG.US Treasury Secretary Scott Bessent added to the tensions on Wednesday by slamming Beijing’s rare earth export curbs as “China versus the world,” and vowing that Washington and its allies would “neither be commanded nor controlled.”- Key figures at around 2020 GMT -New York – Dow: DOWN less than 0.1 percent at 46,253.31 (close)New York – S&P 500: UP 0.4 percent at 6,671.06 (close)New York – Nasdaq Composite: UP 0.7 percent at 22,670.08 (close)London – FTSE 100: DOWN 0.3 percent at 9,424.75 (close)Paris – CAC 40: UP 2.0 percent at 8,077.00 (close)Frankfurt – DAX: DOWN 0.2 percent at 24,181.37 (close)Tokyo – Nikkei 225: UP 1.8 percent at 47,672.67 (close)Hong Kong – Hang Seng Index: UP 1.8 percent at 25,910.60 (close)Shanghai – Composite: UP 1.2 percent at 3,912.21 (close)Euro/dollar: UP $1.1645 from $1.1607 on TuesdayPound/dollar: UP at $1.3400 from $1.3320Dollar/yen: DOWN at 151.24 yen from 151.84 yenEuro/pound: DOWN at 86.90 percent from 87.14 penceBrent North Sea Crude: DOWN 0.8 percent at $61.91 per barrelWest Texas Intermediate: DOWN 0.7 percent at $58.27 per barrelburs-jmb

UN relief chief urges Israel to open Gaza border crossings

UN humanitarian chief Tom Fletcher urged Israel on Wednesday to immediately open all crossings into Gaza for humanitarian aid, as called for in a US-backed ceasefire plan.”It should happen now. We want it to happen immediately as part of this agreement,” Fletcher told AFP in an interview in Cairo, ahead of a planned trip to the Gaza border.Earlier in the day, Israeli public broadcaster KAN had reported that the Rafah crossing point to Egypt would reopen, but this did not happen and an Israeli spokesperson did not respond to an AFP request for comment. Fletcher, the UN under secretary-general for humanitarian affairs and emergency relief is expected to head to the Rafah crossing on Thursday. It is the only border point that connects Gaza to the world without passing through Israel.US President Donald Trump and regional leaders on Monday signed a declaration in the Egyptian resort of Sharm el-Sheikh to cement the deal.”But the test of this agreement is not the photos and the press conferences and the interviews,” Fletcher said.”The test is that we have children fed, that we have anaesthetics in the hospitals for people getting treatment, that we have tents over people’s heads.”Israel currently allows humanitarian aid into the Palestinian territory through other checkpoints under its control, but aid agencies complain that bureaucracy and security controls slow the flow of life-saving supplies.”We want all of those crossings open and we want completely unimpeded access,” Fletcher said, adding that Trump and other world leaders at the summit “were unequivocal that we must be allowed to deliver aid at massive scale”.- Two more bodies -Meanwhile, under the Trump plan endorsed by international mediators, Israel and Hamas are expected to continue their exchange of human remains.The swap has seen the last 20 surviving hostages return home in exchange for nearly 2,000 Palestinian prisoners freed from Israeli jails.So far, Hamas has handed back the remains of seven of 28 known deceased hostages — along with an eighth corpse which Israel says is not of a former hostage. Late on Wednesday, the Israeli military said the Red Cross had picked up two more coffins in northern Gaza containing the remains of hostages and that it would transfer these to the military to be brought home.Hamas’s armed wing had confirmed it would hand over two more bodies, but warned that these would be the last for now, as it had recovered all those it could reach — falling far short of the target demanded under the plan.”The Resistance has fulfilled its commitment to the agreement by handing over all living Israeli prisoners in its custody, as well as the corpses it could access,” the Ezzedine Al-Qassam Brigades said in a statement on social media.”As for the remaining corpses, it requires extensive efforts and special equipment for their retrieval and extraction. We are exerting great effort in order to close this file.”This is likely to pile further domestic pressure on Prime Minister Benjamin Netanyahu to tie aid to the fate of the bodies.Israel’s far-right National Security Minister Itamar Ben Gvir has threatened to cut off aid supplies to Gaza if Hamas fails to return the remains of soldiers still held in the territory.- Humanitarian risk -Israel, meanwhile, transferred another 45 Palestinian bodies that had been in its custody to Nasser Hospital in southern Gaza, bringing the number returned to 90, the territory’s Hamas-run health ministry said. Under the Trump plan, Israel is to return 15 Palestinian dead for every deceased Israeli hostage.Gaza’s civil defence agency, which operates as a rescue force under Hamas, said Israeli fire killed three Palestinians on Wednesday, including two while trying to reach their homes in the Shujaiya neighbourhood of Gaza City.The Israeli military said that “several suspects were identified crossing the yellow line and approaching” troops in the northern Gaza Strip, referencing the line to which Israeli forces have pulled back to under the ceasefire deal. The military said this “violates the agreement” and “troops removed the threat by striking the suspects.”The war sparked by Hamas’s October 7, 2023 attack on Israel led to a humanitarian catastrophe in Gaza, with the densely-populated territory reliant on aid that was heavily restricted, when not cut off outright.At the end of August, the United Nations declared a famine in Gaza, though Israel rejected the claim. The return of aid is listed in Trump’s 20-point plan for Gaza.Another political challenge is Hamas’s disarmament, a demand the militant group has refused to countenance.The group is tightening its grip on Gaza’s ruined cities, but Israel and the United States insist Hamas can have no role in a future Gaza government.burs-dc/acc/dcp

US says working on new $20 bn ‘facility’ for Argentina

US Treasury Secretary Scott Bessent on Wednesday said he was working to rally the private sector around a new $20 billion “facility” to support Argentina’s embattled economy.”We are working on a $20 billion facility that would be adjacent to our swap line, of private banks and sovereign wealth funds that I think would be more aimed at the debt market,” he told reporters in Washington.Bessent added that he had spent weeks working on the private-sector solution to Argentina’s upcoming debt payments, which would come on top of the $20 billion US swap line the US Treasury recently set up.”So that would be a total of $40 billion for Argentina,” he said, in remarks that triggered a rebound in Argentine stocks with some shares on the Merval index rising by almost 10 percent.Bessent’s comments mark the latest round of support from the administration of Donald Trump for Argentina’s right-wing populist leader Javier Milei, who faces an uphill battle in crucial midterm elections later this month.Milei enacted sweeping budget cuts after taking office in 2023 in a bid to quell inflation and turn the Argentine economy around, drawing fierce opposition and widespread protests.Last week, Bessent confirmed the Treasury had set up the $20 billion swap line with Buenos Aires, adding that it had already begun purchasing Argentine pesos to help support the currency on global markets. And on Tuesday, President Donald Trump hosted Milei at the White House, and threw his support behind him ahead of the elections.”If he loses, we are not going to be generous with Argentina,” he warned.The strong US showing of support for Argentina this week has unfolded on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington.The IMF, which has its own multi-billion dollar loan program with Buenos Aires, has supported America’s bilateral assistance for Argentina’s economy.In a broadcast interview on Wednesday, Milei said he was confident of US financial support so long as he remains in office, and vowed to maintain his libertarian agenda.”We continue to advance the ideas of freedom, so at least until 2027 we have that support assured,” he said, according to the dubbed-over voiceover of an English interpreter.Milei, an economist, voiced hope that the legislative elections would increase his base to allow him to pursue his policies.”I have no intention of changing course until the end of my term,” he said. “I am committed to the agenda of lowering taxes, deregulating and keeping the economy growing.”Bessent said Milei would continue to enjoy US support for as long as he had a veto on legislation in parliament. “It is not election-specific, it is policy-specific,” he said. “So as long as Argentina continues enacting good policy, they will have US support.”

Madagascar vows to install colonel as president after takeoverWed, 15 Oct 2025 19:36:37 GMT

Military officers who seized power in Madagascar in a protest crisis said their leader would be sworn in as the country’s new president on Friday.The military leadership under Colonel Michael Randrianirina has promised elections within two years after President Andry Rajoelina was impeached following weeks of popular demonstrations.The international community voiced alarm, with the United …

Madagascar vows to install colonel as president after takeoverWed, 15 Oct 2025 19:36:37 GMT Read More »