FinPol Digest

 The country's Kurds have taken on the role of peacemakers in response to the deadly protests that have pitted Iraq's two main Shiite factions against one another, a precarious balancing act that appears increasingly difficult to maintain in light of Iraq's ongoing dysfunction. When prominent Iraqi Shiite cleric Muqtada al-Sadr declared he was "retiring" from politics on Monday, violence broke out. This led to a brutal clash between his followers who attacked the presidential palace and Iraqi security forces, including members of the Popular Mobilization Units supported by Iran. There were at least 23 fatalities from the conflict. As Sadr urged his supporters to leave the Green Zone today, the crisis—some claimed the nation was on the verge of another full-fledged civil war—showed signs of easing. However, as the nation attempts to create a new administration over a year after elections were held, rising tensions between Sadr, whose coalition received the most vot...

 Bahraini Ambassador to Israel, Khalid Yousif Al-Jalahma, seeks to boost space collaboration with Israel. He has discussed ways to bolster space cooperation with Israel during a meeting with the CEO of Bahrain ’s National Space Science Agency (NSSA), Mohammed Ibrahim Al-Asiri.  The officials discussed the ways of the potential cooperation between NSSA and the authorities in Israel in the field of space and advanced sciences. Al-Jalahma said Israel will support NSSA’s efforts in developing the space sector in Bahrain.  Bahrain’s space policies were also discussed during the meeting. The authorities also reviewed NSSA’s strategic plan for 2018-2023. The first Bahraini-built satellite is also set to launch by December 2023. The project is part of NSSA’s strategy to enhance national capabilities by qualifying Bahraini youth for creativity and excellence in the field of science and space. The project will begin with the launch of the first Bahraini-built satellite and end in 2...

 The Hudson Institute's Josh Block is an adjunct fellow. Block spent 25 years engaging in politics and influencing national policies as a scholar of international affairs and political strategist. In his article, he highlighted Iran's threat to America and global security using western accounts. He has also highlighted Iran’s threat to the Middle East. In his article, he states that the West is under attack from an even bigger confluence of dangers as China threatens to invade Taiwan and Russian aggression in Ukraine persists. The United States and our allies will soon be up against a nuclear-armed coalition of North Korea, Iran, China, and Russia that will span Asia, the Middle East, and central Europe and be capable of attacking the American homeland. In the meantime, the Biden Administration is considering additional, sizable financial bailouts for the ailing military theocracy in Iran while trying to salvage the fatally flawed 2015 Iran nuclear agreement and shamelessly en...

 Another significant section of the blast-ravaged Beirut Port silos collapsed early on Tuesday. However, there were no immediate reports of injuries or deaths. The recent collapse was another painful reminder of the horrific August 2020 explosion. The recent collapse left the silos’ southern part standing next to a pile of charred ruins. According to media reports, eight more grain silos at Beirut port collapsed in a cloud of dust. The collapse also brought down the last of the northern block of silos that was heavily damaged in the blast. Reportedly, a fire had been burning in the northern block of silos since July. The condition of the block deteriorated after it caught fire due to fermenting grains. Reportedly, after the recent incident, Lebanon ’s caretaker environment minister, Nasser Yassin, said that the Lebanese government will now look into how to ensure the southern block remains standing. In April, the Lebanese government decided to demolish the silos. However, protests...

The President of the Republic of Uzbekistan, Shavkat Mirziyoyev, performed the Umrah pilgrimage, an Islamic pilgrimage to Mecca in Saudi Arabia, on Thursday.  The Uzbekistan president was received by several officials from the General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque and the Special Force for the Security of the Grand Mosque. The president of the General Presidency for the Affairs of the Two Holy Mosques, Sheikh Abdulrahman Al-Sudais, was also present.  Shavkat Mirziyoyev's Press-service shared photos from the president’s pilgrimage on Twitter. The Uzbek president was seen performing the rituals with other Saudi officials. He was seen wearing white clothes. He performed rituals in a safe and spiritual atmosphere. Later on, the ministers held a meeting and discussed bilateral relations and cooperation in various fields. They also reviewed a number of issues of common interest. The Uzbek president arrived in Jeddah on Wednesday. He was rece...

 In the first half of 2022, bilateral commerce between Saudi Arabia and the Republic of Uzbekistan increased significantly from the previous year, when it barely topped $17 million, to reach $95 million. A joint press release predicts that the value will increase quickly by the end of 2022. In the wake of the epidemic, the figures take on significance. In fact, during the past five years, there had been a rise from nine to 38 Uzbek businesses using Saudi money. 39 of them are joint ventures with the remaining 19 being sole proprietorships. When Uzbekistan President Shavkat Mirziyoyev visits the Kingdom on Wednesday and Thursday, the two countries will strengthen their relations even further by signing 12 new accords. High-level discussions between the two countries will reportedly take place in Jeddah where they will reportedly examine ways to further strengthen multilateral cooperation. The green economy, technology and digitalization, innovations, small businesses, and entrepre...

The United Nations (UN) human rights chief, Michelle Bachelet, on Thursday, expressed alarm at the number of Palestinian children who have been killed or injured this year. He further called for investigations of all the incidents. The UN human rights chief reportedly said, “Inflicting hurt on any child during conflict is deeply disturbing.” She further said that conflict caused deaths of children and damage to infrastructure. She also highlighted the violations of international humanitarian law by Palestinian armed groups who launched hundreds of attacks, causing civilian casualties and damage to civilian objects in Israel. The figures increased rapidly last weekend because of the fight between Israeli authorities and the Islamic Jihad group, and subsequent Israeli enforcement operations in the West Bank. This month, 19 Palestinian children were killed in the Occupied Territories. The death toll of children increased to 37.  Recently, a  16-year-old boy was shot by Israeli ...

 Association of Banks in Lebanon (ABL) announced on Friday that banks would go on strike from Monday to confront politicians over a build-up of “populist and harmful stances” taken against the banking sector in the country. Nearly 49 banks plan to strike on Monday, according to the latest statement by Lebanon’s banking association. ABL is taking action over the recent treatment of the Banking sector, especially the arrest of Creditbank Chairman Tarek Khalife. This week, Khalife and his family members were held at Beirut’s Rafic Hariri International Airport due to a criminal complaint filed against him at the Public Prosecution Office in Mount Lebanon. In March, a Lebanese judge issued a travel ban for Khalife and froze all his bank’s assets, including properties and vehicles. Khalife is now on bail. ABL said that banks “can no longer bear harmful and populist situations at their expense and the expense of the economy.” ABL went on to accuse people looking into the lawsuits of being...

 Tesla owner and billionaire Elon Musk has predicted that the United States (US) will have a 'mild recession' for 18 months. He laid out his assessment of the US economy at Tesla's annual shareholder meeting on Thursday. He reportedly said that the US is heading into a recession. During the meeting, he said, "I am just guessing here, this is total speculation. But I would guess it's a mild recession for 18 months or something like that." Musk further said that the prices Tesla is seeing are trending downward, which "suggests that we are past peak inflation." For the past few months, experts claimed that the US could be headed toward a recession. Due to record inflation, large companies like Tesla announced large-scale layoffs to cut costs. The US Federal Reserve also raised interest rates to cool down the US economy. US Federal Reserve officials also voiced their determination on Wednesday to rein in high inflation. Fed Chair Jerome Powell also said...

 Saudi Arabia has welcomed United States president Joe Biden’s announcement on the killing of terrorist Al-Qaeda leader Ayman Al-Zawahiri.  The Kingdom of Saudi Arabia (KSA) said that Al-Zawahiri is considered one of the leaders of terrorism because he plans the execution of heinous terrorist operations in the US, Saudi Arabia, and other countries. The Kingdom also accused Al-Zawahiri of killing thousands of innocent people of different nationalities and religions, including Saudi citizens. Saudi Arabia told other countries to cooperate and put international efforts to combat and remove terrorism, the Saudi Press Agency reported on Tuesday, citing a foreign ministry statement. According to the statement by Saudi Arabia, the country called on all countries to cooperate and protect innocent people from terrorist organizations. The United States killed Al-Zawahiri in a drone strike in Afghanistan . US President Joe Biden confirmed this news on Sunday. Al-Zawahiri was killed in a...