Latest news with #AsharqAl-Awsat
Yemen Online
5 days ago
- Business
- Yemen Online
Yemen's Fragile Economy Feels the Heat of Iran-Israel Conflict
The ripple effects of the escalating conflict between Iran and Israel are being felt in Yemen's fragile economy. The already-depreciated Yemeni rial has fallen further, fuel prices have surged following a government decision, and fears of wider inflation loom over one of the region's most vulnerable economies. Last week, the exchange rate for the US dollar crossed 2,750 Yemeni rials before slightly retreating. Economists warn the rial will likely continue to weaken amid broader regional instability. In response, Prime Minister Salem bin Braik announced an emergency 100-day plan to stabilize the economy and ensure basic state obligations, including public sector salaries. The government also introduced new fuel pricing, raising costs by up to $1 per 20-liter container of gasoline and diesel. This marks the fourth fuel price hike this year, compounding pressure on Yemen's already burdened consumers. With Yemen importing over 95% of its goods, any increase in global shipping costs or insurance premiums immediately impacts domestic prices. Economist Rashid Al-Ansi explained to Asharq Al-Awsat that the cost of food, fuel, and other essential goods is rising due to the weakened currency and regional tensions. Unlike neighboring countries, he added, Yemen lacks the fiscal space and policy flexibility to absorb such shocks. Adding to the strain, foreign currency reserves are being depleted as locals rush to convert their savings into dollars or gold amid fears of an open war between Israel and Iran. This has raised concerns of further rial depreciation and capital flight, according to economist Fares Al-Najjar. Al-Najjar also warned that remittance flows - Yemen's main source of foreign currency - may decline due to global uncertainty, reducing the central bank's ability to stabilize the market. The government is already struggling to fund basic services, including electricity in Aden and water supply in Taiz. Experts are particularly concerned about potential disruption to maritime trade. If military tensions spill over into the Red Sea or Gulf of Aden, Yemen's surrounding waters could be labeled 'high-risk zones,' driving shipping and insurance costs up by as much as 300%. This would cripple import flows and make oil exports - Yemen's last lifeline for foreign currency - nearly impossible.
Leaders
17-06-2025
- Politics
- Leaders
Iranian Missiles Crash into Syrian Houses, Causing Material Damage
Syria announced that some residential areas in Syria's southern Daraa province were damaged due to Israeli and Iranian attacks, according to SANA News Agency. Material Damage Israeli air defenses shot down several Iranian drones over Daraa causing only material damage with no reported causalities. On Monday, Israel's air defenses intercepted an Iranian drone in the northern neighborhood of the city of Nawa leaving a partial damage into one building, according to Syria's state-run Alikhbaria TV. 'Israeli warplanes and Iranian drones and missiles violate Syrian airspace on a near-daily basis since the outbreak of hostilities between the two countries,' Sheikh Ahmed Arab, an imam and preacher at a mosque in the city of Nawa, told Asharq Al-Awsat. Meanwhile, another Iranian drone crashed near a house in the village of Khirbet Qais causing no injuries or material losses, Local outlet Daraa 24 reported. 'Their aerial confrontations unfold above our heads, and debris from aircraft and missiles often falls in towns and villages like Nawa, al-Sanamayn, al-Rafid, and Nafaah, causing material damage,' Arab added. Furthermore, Israeli forces intercepted an Iranian missile in 'Horan Free' gathering that landed near the town of Jasim in northern Daraa. The missile ignited a fire in a tent housing a Bedouin family, but no injuries were reported. 'It's deeply troubling and worrisome for us as civilians, but we are powerless to stop it,' he said. A Call for Protecting Syrian Airspace In this context, Arab highlighted the necessity of protecting the Syrian airspace and urged the need for strict measures to prevent both Israeli and Iranian missiles from operating over Syria. 'There must be international oversight to stop Israeli warplanes and Iranian drones and missiles from violating Syrian airspace,' he told Asharq Al-Awsat. Israeli-Iranian Tensions On June 13, Israel launched a wave of airstrikes on Iran under the name of Operation Rising Lion. The military campaign targeted Iran's nuclear facilities and killed top military commanders and nuclear scientists. As a response, Iran launched a retaliatory wave of missiles against Israel and targeted Tel Aviv. Israel also killed three more Iranian nuclear scientists, bringing the total number of scientists slain to nine, Gulf News reported. Currently, both countries are trading missiles and attacks amid intensifying efforts to halt the conflict. Related Topics: Arab Nations Urge for De-escalation as Trump Calls Iranians to Evacuate Tehran Israel Kills 3 More Iranian Nuclear Scientists, Raising Total to 9 Crown Prince, Iranian President Discuss Regional Affairs Short link :
Int'l Business Times
13-06-2025
- Politics
- Int'l Business Times
Kim Jong Un Unveils Repaired 'Kang Kon' After Botched May Launch, Blames 'Irresponsibility'
North Korea announced Friday that it has repaired and relaunched its second naval destroyer, Kang Kon, after a failed launch in May, according to a report by Asharq Al-Awsat. The Choe Hyon–class vessel capsized during its initial launch, prompting a high-profile response from North Korean leader Kim Jong Un, who condemned the incident as the result of "absolute irresponsibility and unscientific empiricism." At a ceremony held Thursday at the Rajin shipyard, Kim oversaw the relaunch and declared plans to build two new 5,000-ton destroyers by 2026. "North Korea will respond to external challenges with equal power and overwhelming military action," Kim stated, according to Asharq Al-Awsat. In response to the failed May 21 launch, North Korean authorities detained four officials, including the vice director of the Workers' Party's munitions industry department. Kim labeled the botched launch a "criminal act" that "immediately destroyed the honor and pride of the country." The newly repaired destroyer, designated as Destroyer No. 2, was formally reclassified as a Choe Hyon–class vessel and named Kang Kon by order of the Central Military Commission of the Workers' Party, according to China Daily. Jo Chun Ryong, secretary of the Central Committee of the Workers' Party, credited warship-building workers for the vessel's launch and said it would serve as a core component of the country's sea defense and deterrence. "The new-type multi-mission destroyer is equipped with comprehensive combat capabilities, developed in our own way, to carry out retaliatory annihilation strikes against hostile forces," Jo said. Kim also met with the scientists, engineers, and workers involved in both the original construction and the recent restoration of the vessel. "No obstacle could delay the important course of bolstering our naval combat power," Kim declared during the ceremony. Before the relaunch, the capsized ship was salvaged and moved to Rajin port, near the Russian border, for repairs. However, external observers remain skeptical of the restoration process. Analysts questioned whether Kang Kon's engine, weapons, and electronics systems could have been fully restored after being submerged in seawater for nearly two weeks. "Considering the time they needed to raise the vessel, they would have had less than two weeks to carry out the actual repair work. Would that be enough to make the ship fully operational? I think that's highly unlikely," said Yang Uk, a defense analyst at the Asan Institute for Policy Studies in Seoul. Lee Illwoo, a military expert with the Korea Defense Network, added that key systems—such as the engine room, missile launchers, and anti-air defenses—were likely compromised due to flooding and sensitive electronics. Satellite imagery suggested that North Korea had attempted an unusual sideways launch technique, raising further questions about the ship's balance and seaworthiness. Some experts speculated that Russian specialists may have assisted with the repairs, and that both destroyers were built with Russian support. The Kang Kon belongs to the same class as North Korea's first destroyer, unveiled in April, which experts described as the country's largest warship to date. North Korea plans to deploy both destroyers next year—a move that analysts warn could significantly escalate regional tensions. Lee noted that South Korea's navy may not yet be equipped to counter such large enemy vessels. In a separate development, South Korean President Lee Jae-myung announced a halt to propaganda broadcasts along the border. North Korea has not officially responded.
Leaders
28-05-2025
- Politics
- Leaders
Hamas Says Gaza Ceasefire Framework Reached with Witkoff
The Palestinian movement Hamas on Wednesday announced it reached an agreement with the US Special Envoy, Steve Witkoff, on a general framework that involves a ceasefire in Gaza and a complete withdrawal of Israeli troops from the Strip, according to Asharq Al-Awsat. In a statement, Hamas said that the framework 'ensures a permanent ceasefire, a complete withdrawal of Israeli troops from Gaza, the flow of humanitarian aid and a professional committee assuming control of the Strip's affairs immediately after the agreement is announced.' Moreover, the framework involves 'the release of 10 Israeli hostages and a number of bodies, in exchange for releasing an agreed-upon number of Palestinian prisoners, guaranteed by the mediators.' The Palestinian movement added that it is waiting for a final response to this framework. On Monday, Witkoff told CNN that a 'ceasefire-hostage deal for Gaza is currently on the table' to end the war, urging Hamas to accept it. The proposed deal included the release of half of the living hostages and half of the bodies of the deceased in return for a temporary ceasefire before starting negotiations for a comprehensive agreement to end the war. However, he did not specify the duration of the temporary ceasefire – a key issue in the negotiations. Earlier on Monday, Hamas said it had agreed to what it called 'Witkoff proposal,' which involved the release of 10 hostages in two groups in exchange for a 70-day ceasefire, Reuters reported citing a Palestinian official. But Witkoff dismissed the report, saying that this was not his proposal. Short link : Post Views: 10
Yahoo
24-05-2025
- Politics
- Yahoo
Hamas fighters ‘not paid for three months' because of Israeli aid block
Hamas has not paid its fighters for three months due to Israeli restrictions on humanitarian aid preventing the group seizing and selling supplies, according to reports. Members of the al-Qassam brigades, Hamas' military wing, have not received any pay since around February, a source from within the terror group told the London-based Arabic newspaper Asharq Al-Awsat. Families of terrorists killed or captured during fighting with Israel are also reported to have not received their usual remuneration. Hamas's civil workers were said to have received a reduced salary equivalent of $250 four months ago, which 'sparked resentment among employees'. It is not clear if they have been paid since. Budgets allocated towards ministries and government agencies were also reported to have been put on hold around the same time. Israel cut off supplies of humanitarian aid to Gaza in March, some of which Hamas had reportedly been seizing and selling to raise money. Around 100 aid lorries were allowed to reenter the strip on Friday, but this was much reduced from the around 600 a day that were crossing the border before March. Moumen Al-Natour, a Palestinian lawyer from the Al-Shati camp in central Gaza, told the Wall Street Journal last week that the cash-strapped terror group had 'a big crisis' on its hands. 'They were mainly dependent on humanitarian aid sold in black markets for cash,' he explained. The renewed Israeli offensive in Gaza has also reportedly targeted Hamas officials involved in distributing cash. Hamas has 'never experienced such conditions before, whether during the current war or in previous periods' and there is a 'clear administrative vacuum', Asharq Al-Awsat wrote. On Monday Sir Keir Starmer, Emmanuel Macron and Mark Carney called on Israel to lift its restrictions on humanitarian aid and stop its military operations in Gaza, a statement that was strongly condemned by the Israeli government. Hundreds of Palestinians were seen in footage posted to social media this week calling for an end to the war and the removal of the group, which has been in power in Gaza for nearly two decades. The protests appear to have been caused by claims from a senior Hamas official that the war with Israel was 'eternal', and that Palestinians would 'produce dozens more babies for each martyr'. 'Out! Out! Out! All of Hamas, out!' the protesters chanted, despite the danger of speaking out against the terror group in the war-torn enclave. In March, a 22-year-old man was tortured to death by armed gunmen after taking part in anti-Hamas demonstrations. Videos from Khan Younis show young men criticising Hamas for selling their 'blood for a dollar… To those with Hamas, be aware the people of Gaza will dig your grave'. Gaza-based journalists reportedly received threats after the protests, warning them not to publish any 'negative news that could affect the morale of the people'. One man, speaking on condition of anonymity, told the BBC: 'The people do not care any more about Hamas's attempts to suppress their voice because they are literally dying from hunger, evacuation, and the bombings.' Hamas is also reported to have lost much of its influence in the Occupied West Bank, with underfunded terror cells not carrying out attacks on Israeli settlers or troops due to fear of military raids. Israel continued its new Gaza offensive on Saturday, with the strip's Hamas-run civil defence agency saying at least 15 people were killed by Israeli strikes. 'Suddenly, a missile from an F-16 destroyed the entire house, and all of them were civilians – my sister, her husband and their children,' said Wissam Al-Madhoun outside Khan Younis's Nasser Hospital, where tearful mourners gathered around white-shrouded bodies. 'We found them lying in the street. What did this child do to Netanyahu?' he added. The Israeli military said it was unable to comment on individual strikes without their 'precise geographical coordinates'. In a statement, the military said that over the past day the air force had struck more than 100 targets across the territory, including members of 'terrorist organisations in the Gaza Strip, military structures, underground routes and additional terrorist infrastructure'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
