Shares in Google parent Alphabet slumped on Wednesday as its earnings disappointed investors and it was ensnared in rising trade tensions.Meanwhile, Chinese e-commerce firms took a hit from news that the US Postal Service was suspending inbound parcels from China and Hong Kong, a move that followed tit-for-tat tariffs hikes by Washington and Beijing. The USPS …
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Donald Trump’s stunning proposal that the United States could take control of the Gaza Strip has drawn criticism from governments around the world.But the US president’s apparent plan — announced at the White House alongside Israeli Prime Minister Benjamin Netanyahu — remains thin on details.It came in the context of mediated negotiations between Israel and Hamas to reach the “second phase” of a ceasefire deal that would bring a more permanent end to the devastating war in Gaza.This is what Trump said at Tuesday’s news conference:- ‘Long-term ownership’ -“The US will take over the Gaza Strip and we will do a job with it, too. We’ll own it. And be responsible for dismantling all of the dangerous unexploded bombs and other weapons on the site.”Level the site, and get rid of the destroyed buildings, level it out, create an economic development that will supply unlimited numbers of jobs and housing for the people of the area.”Pressed for details, he added later: “I do see a long-term ownership position, and I see it bringing great stability to that part of the Middle East and maybe the entire Middle East.”- Palestinian displacement -“It should not go through a process of rebuilding and occupation by the same people that have really stood there and fought for it and lived there and died there and lived a miserable existence there.””The only reason the Palestinians want to go back to Gaza is they have no alternative,” Trump said.He later said: “I envision world people living there. The world’s people. I think you’ll make that into an international, unbelievable place… And I think the entire world, representatives from all over the world, will be there.”Palestinians, also, Palestinians will live there. Many people will live there. But they’ve tried the other and they’ve tried it for decades and decades and decades. It’s not going to work. It didn’t work. It will never work.”- US troops -The president hinted his plan could require US boots on the ground in Gaza “if necessary.””As far as Gaza is concerned, we’ll do what is necessary. If it’s necessary, we’ll do that,” Trump said when asked if American troops would be involved. – ‘Riviera of the Middle East’ -Trump said the Gaza Strip could become “the Riviera of the Middle East. This could be something that could be so magnificent.”He added: “We’re going to take over that piece, and we’re going to develop it, create thousands and thousands of jobs, and it will be something that the entire Middle East can be very proud of.”Trump later said, “I think the potential in the Gaza Strip is unbelievable.”- Support from Arab leaders? -Trump claimed that Arab leaders supported his plan, despite their overwhelming opposition after his announcement. “I can tell you, I spoke to other leaders of countries in the Middle East, and they love the idea. They say it would really bring stability, and what we need is stability.”
The European Commission announced Wednesday it would seek to impose new fees on e-commerce imports, as part of efforts to tackle a surge of “harmful” products into the bloc — the bulk of them from China.The EU action came as the US Postal Service (USPS) briefly suspended inbound parcels from China and Hong Kong, a …
Nissan shares plunged on Wednesday as reports said the struggling Japanese carmaker was walking away from merger talks with rival Honda.The Nikkei business daily and other local media earlier said Honda had proposed making Nissan its subsidiary, instead of the previous plan to integrate under a new holding company.”Strong opposition” within Nissan to this proposal …
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Stock markets mostly fell, the dollar slid and gold hit a record high Wednesday over fears about a trade war between superpowers China and the United States.US tech sector shares also took a beating after earnings from Google-parent Alphabet missed expectations, with Wall Street’s tech-heavy Nasdaq Composite index shedding 0.6 percent.Chinese e-commerce firms took a hit …
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The Aga Khan, imam of the Ismaili Muslims and head of a major development aid network, has died in Lisbon at the age of 88, his foundation announced on Wednesday.He was the founder and president of the Aga Khan Development Network, which employs 96,000 people and finances development programmes particularly in Asia and Africa.”His Highness Prince Karim Al-Hussaini, Aga Khan IV, 49th hereditary Imam of the Shia Ismaili Muslims and direct descendant of the Prophet Muhammad (peace be upon him), passed away peacefully in Lisbon on 4 February 2025, aged 88, surrounded by his family,” the foundation said in a statement.”The announcement of his designated successor will follow,” the statement added, regarding who could become the fifth person to hold the post since the 19th century.Present in multiple countries, notably in central and southern Asia, Africa and the Middle East, the Ismaili community numbers 12 to 15 million, according to its website.United Nations chief Antonio Guterres described the Aga Khan as “a symbol of peace, tolerance and compassion in our troubled world” following the religious leader’s death.Malala Yousafzai, Nobel Peace laureate and education campaigner, said his legacy would “live on through the incredible work he led for education, health and development around the world”.Born in Geneva, the Aga Khan spent his childhood in Kenya and was appointed in Tanzania to succeed his grandfather in 1957. His father was passed over in the line of succession after a tumultuous marriage to American actor Rita Hayworth.A billionaire owner of yachts and jets, the Aga Khan was a regular on the racetrack and continued the family tradition of breeding thoroughbreds.He also ploughed a large amount of his inherited wealth into philanthropic projects.- ‘Extraordinary man of vision’ -The apolitical and secular development foundation he created in 1967 is credited with raising literacy levels in 18 countries across South and Central Asia, Africa and the Middle East.Its work in Pakistan earned the Aga Khan the wrath of Sunni Taliban militants who accused the foundation’s schools of “brainwashing” men and women to stay away from Islam.During his lifetime, the Aga Khan was awarded honorary Canadian citizenship for his work on development and “tolerance around the world”.He also held British and Portuguese citizenship. The Ismaili leadership is based in Lisbon, where there is a significant community.Britain’s King Charles was “deeply saddened” by the death of the Aga Khan, who was “a personal friend of many years”, an unnamed royal source was quoted in the British press as saying.Canada’s Prime Minister Justin Trudeau described the Aga Khan as an “extraordinary man of vision, faith, and generosity” who “devoted his life to peace and prosperity for all”.The UN High Commissioner for Refugees, Filippo Grandi, praised “his exemplary commitment to culture, philanthropy and humanitarian causes”.Despite his role as the spiritual head of the Ismaili Muslims, he was reluctant to discuss Middle East conflicts, religious fundamentalism or Sunni-Shiite tensions.Islam is not a faith “of conflict or social disorder, it’s a religion of peace,” he told AFP in 2017.It is used in situations which are “essentially political, but which are presented, for various reasons, in a theological context. This is simply not correct,” he said.burs-ah/as/rlp
