Author: ALJAZEERA

FTX has committed to a bankruptcy liquidation that will repay customers whose deposits were locked during its late 2022 collapse.A United States court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7bn in relief to its customers, the Commodity Futures Trading Commission has said. FTX drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to make its own risky investments, CFTC Chairman Rostin Behnam said in a statement on Thursday. The repayment order implements a settlement between the CFTC and the bankrupt crypto exchange, which has…

Palestinian Foreign Ministry slams Israeli Finance Minister Bezalel Smotrich for saying starving Palestinians may be ‘moral’.The Palestinian Ministry of Foreign Affairs has called on the International Criminal Court (ICC) to issue an arrest warrant for Israeli Finance Minister Bezalel Smotrich for saying it may be “justified and moral” to starve Palestinians in Gaza. In a statement on Thursday, the Foreign Ministry described Smotrich’s comments as an “explicit admission of adopting and bragging about the policy of genocide”. “The Ministry further affirmed that such [a] statement is considered a direct disregard for international legitimacy decisions and international consensus on protecting civilians…

Hopes that interim government under Muhammad Yunus can restore stability and address country’s inequalities.The student protests that have rocked Bangladesh since July 1 and led Prime Minister Sheikh Hasina to flee in the middle of the night in a helicopter to New Delhi have battered the domestic economy, with losses estimated at billions of dollars. Now, even as Nobel Laureate Muhammad Yunus prepares to guide an interim government in Dhaka, businesses are struggling with the unprecedented nature of recent events and what comes next. “Very few expected the situation to turn the way it had,” Vina Nadjibulla, vice president of…

Deir el-Balah, Gaza – It is around 7:30pm and the sun is setting when Nimah Elyan and her four youngest children return home – a beige-coloured tent in a temporary camp in Deir el-Balah in central Gaza – after trying to escape the heat by going to the beach. “The tent in the summer is hell,” says 45-year-old Nimah as she uses a sponge and a bucket of water to wash her children who are under the age of seven. “We cannot stay inside the tent for even five minutes during the day. The heat is absolutely unbearable.” To escape…

Boeing has said it plans to make design changes to prevent a future midair cabin panel blowout like the one in an Alaska Airlines 737 MAX 9 flight in January which spun the plane-maker into its second major crisis in recent years. Boeing’s senior vice president for quality, Elizabeth Lund, said on Tuesday the plane-maker is working on design changes that it hopes to implement within the year and then retrofit across the fleet. Investigators have said the plug in the new Alaska MAX 9 was missing four key bolts. “They are working on some design changes that will allow…

NewsFeedIsraeli human rights group B’Tselem has released a new report detailing the mistreatment of Palestinian detainees in which it says Israeli jails have been turned into ‘torture camps.’Published On 6 Aug 20246 Aug 2024

The unexpected rise in the unemployment rate in the United States has left economists divided: Is the US on the brink of a recession or not? The unemployment rate jumped to a nearly three-year high of 4.3 percent in July, as per data released Friday. The increase – up from 4.1 percent in June, and up from a five-decade low of 3.4 percent in April last year – sets the stage, more than ever, for a cut in interest rates in the next Federal Reserve meeting in September. Which raises the question: Is it too late? The jump in the…

In 2023, a few months before the start of the current Israel-Gaza conflagration, renowned American scholar Noam Chomsky was asked about the state of the relationship between the United States and Israel. Chomsky indicated that a shift is taking place. Historically, he said, “when the United States demanded that [Israel] do something, it would do it.” Chomsky observed that things have changed in recent years as Israeli political leaders have become outspoken about asserting Israel’s independence from the US. “It’s the first time the confrontation [between the US and Israel] has been this clear, and it’s not clear how the…

Fears about the health of the US economy are hitting Japan’s stock market and share indices around Asia.Japanese stocks have recorded their biggest losses since October 1987, extending last week’s sell-off spurred by concerns the United States’ economy may be weaker than previously thought. The Nikkei share average was down 10.01 percent or 3,595.30 points to 32,314.40 in the early afternoon, its lowest in months. The index has dropped sharply from its peak in July, and is on course for its biggest two day plunge ever. “Domestic equities tanked purely because of the worries that the US economy may be…

Benchmark Nikkei 225 index closes 5.81 percent lower after tumble in Wall Street shares.Japanese stocks have taken a dramatic plunge after Wall Street shares tumbled over concerns about the US economy and a stronger yen. The benchmark Nikkei 225 index closed down 5.81 percent on Friday, or 2,216.63 points, at 35,909.70 – the second-biggest points drop in history, and the largest fall in percentage terms since March 2020 at the start of the pandemic. The broader Topix index lost 6.14 percent, or 166.09 points, to 2,537.60. “The chain of stock market declines did not stop,” IwaiCosmo Securities said following US…