-- Israel’s economy may shrink 11% on an annualized basis in the last three months of the year, JPMorgan Chase & Co. said, as the country’s war with Hamas escalates.The bank’s initial projections about the economic impact of the conflict, which erupted on Oct. 7 when Hamas militants rampaged through southern Israel, were “too optimistic,” analysts including Nicolaie Alexandru-Chidesciuc wrote in note dated Oct. 27.
JPMorgan still sees Israel’s gross domestic product growing 2.5% this year and 2% in 2024. The estimate of the 11% drop between October and December is for seasonally-adjusted growth compared with the third quarter. Netanyahu’s government has called up roughly 350,000 reservists — the most in Israel’s history — since the war started. That amounts to more than 5% of the country’s labor force.
Communications in Gaza were unavailable Saturday amid an Israeli bombardment, prompting Elon Musk to offer SpaceX's satellite internet service to aid groups.Former U.S. Attorney General Bill Barr knocked former President Trump’s verbal skills in Friday comments. “His verbal skills are limited,” Barr said at an event at The University of Chicago’s Institute of Politics.
Russian soldier says 8 Ukrainian fighters fended off hundreds of enemy troops from their fortified position, per leaked audio President Vladimir Putin used the table while meeting with representatives of Russia's religious associations in the Kremlin this week.RIYADH, Saudi Arabia — Saudi officials have firmly warned the United States in recent days that an Israeli ground incursion into the Gaza Strip could be catastrophic for the Middle East. They delivered that exhortation to senior U.S. officials in multiple conversations, according to a Saudi official and a second person with knowledge of the discussions.