Author: ALJAZEERA

Bankman-Fried, 32, sentenced for stealing $8bn from customers of the FTX cryptocurrency exchange he founded.Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded. US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing on Thursday after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his trial testimony. A jury found Bankman-Fried, 32, guilty on November 2 on seven fraud and conspiracy counts stemming from FTX’s 2022 collapse…

With an economy so reliant on oil, Iraq has long faced a tough balancing act between the short-term gains that can come from ramping up production and the long-term problems that can arise from overproduction. Last week, the Iraqi oil ministry announced that it was rectifying a swing too far in one direction when it announced that it would be curbing oil exports to 3.3 million barrels per day (bpd) after having exceeded since January a quota imposed by the OPEC+ oil cartel. Production for March will be 130,000 bpd lower than in February, which will keep Iraq’s partners in…

Beijing imposed tariffs on Australian wine in 2020 during a diplomatic feud, raising duties from zero to above 200 percent.China says it will lift steep tariffs on Australian wine imposed more than three years ago in the latest sign of improving relations between the two countries. The anti-subsidy and anti-dumping levies were first imposed in 2020 along with a host of other trade barriers during a diplomatic feud over Australia’s support for a global inquiry into the origins of COVID-19. China had been Australia’s top wine export market, and Australian wine producers took a heavy hit from the duties, which…

Mahmoud Abbas has announced a new interim government as calls grow for a revitalised and reformed PA.The Palestinian Authority (PA) has announced the formation of a new Cabinet as it faces international pressure to reform. President Mahmoud Abbas, who has led the PA for nearly two decades, announced the new government in a presidential decree on Thursday. Abbas tapped Mohammad Mustafa, a longtime adviser, to be prime minister earlier this month. He replaced Mohammed Shtayyeh, who, along with his government, resigned in February citing the need for change amid Israel’s brutal assault on Gaza and escalating violence in the occupied…

Israeli PM had called off Washington visit after US did not veto UN Security Council resolution on Gaza ceasefire.Israel has asked the United States to reschedule a meeting to discuss its military operation in Gaza’s Rafah days after Prime Minister Benjamin Netanyahu abruptly cancelled a planned visit to Washington. White House spokeswoman Karine Jean-Pierre on Wednesday told reporters that “we’re now working with them to find a convenient date that’s obviously going to work for both sides”. Netanyahu was angry that the US on Monday did not veto a United Nations Security Council resolution calling for an immediate ceasefire in…

The United Kingdom is plummeting into a paranoid deluge of authoritarianism. Since October, our government’s steadfast support for Israel has ushered in a new age of state coercion, exposing in its wake the artifice of democracy in Britain. In response to weekly pro-Palestine protests calling for an end to Israel’s onslaught on Gaza attended by hundreds of thousands in London and other major British cities, the Conservative Party government expanded police powers and moved to weaponise concerns over so-called “extremism”. Its leading figures referred to peaceful protesters exercising their democratic rights as “mobs” and “hate marchers”, classifying any and all…

Istanbul, Turkey – As nationwide local elections approach on March 31, there are concerns in Turkey about the growing threat of disinformation and fake media created through artificial intelligence. Earlier this year, a video spread across social media purportedly showing Istanbul’s opposition mayor praising President Recep Tayyip Erdogan’s ruling Justice and Development Party (AK Party). Ekrem Imamoglu, of the Republican People’s Party (CHP), is seen in the video commending the “great steps” taken in public transport projects when the AK Party controlled Istanbul. While the video was widely discredited due to the substance of Imamoglu’s “comments”, it raised fears about…

Seoul Bus Labor Union agrees to 4.48 percent wage rise to return to work.Thousands of bus drivers in South Korea’s capital of Seoul have returned to work hours after launching a strike that caused chaos for rush-hour commuters The Seoul Bus Labor Union on Thursday agreed to a 4.48 percent wage rise plus 650,000 won ($480) in holiday bonuses, the Seoul city government said, nearly 12 hours after the industrial action disrupted almost all bus routes in the capital. The breakthrough cleared the way for the resumption of bus services ahead of the evening rush hour. Seoul Mayor Oh Se-hoon…

Annelle Sheline, a Middle East analyst who promoted human rights on behalf of the United States government, has become the latest staffer at the US Department of State to leave her post in opposition to President Joe Biden’s Israel policy. Sheline announced her resignation in an interview with the Washington Post on Wednesday, as the official death toll in Gaza reached 32,490 since October 7 and the World Food Programme has warned that famine in the enclave is imminent. “I wasn’t able to really do my job any more,” Sheline told the newspaper. “Trying to advocate for human rights just…

S&P 500 rises 0.9 percent as major players including Apple and Tesla see gains.The US stock market has hit a record high after a string of downbeat trading sessions. All three leading stock indexes rose on Wednesday, ending a three-day lull. The S&P 500, which tracks the performance of 500 of the largest US companies, finished up 0.9 percent on Wednesday, surpassing last week’s record. The rise leaves the benchmark index up more than 10 percent so far in 2024. The Dow Jones Industrial Average and Nasdaq Composite rose 1.22 percent and 0.51 percent, respectively. Among the big corporate players,…