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British News |
UK interest rates: Bank of England set to reveal next decision |
The Bank of England is widely expected to keep interest rates on hold on Thursday after the latest UK inflation figures remained stubbornly high. Most economists think the Monetary Policy Committee (MPC) rate-setters will keep base rate unchanged at 5 per cent, its highest level since 2008, during the global financial crisis. The Bank cut rates from 5.25 per cent last month – the first reduction since 2020, in a move welcomed by squeezed borrowers still suffering from the cost-of-living crisis. The move disappointed savers, however. Bank of England governor Andrew Bailey said it had been able to cut the base rate because inflationary pressures had “eased enough”. August’s inflation was unchanged at 2.2 per cent, which was higher than the Bank of England’s 2 per cent target but was below the 2.4 per cent the Bank itself had predicted at this stage. Keeping the base rate on hold means mortgage repayments are unlikely to change. |
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World News |
Germany has stopped approving war weapons exports to Israel |
Germany has put a hold on new exports of weapons of war to Israel while it deals with legal challenges, according to a Reuters analysis of data and a source close to the Economy Ministry. Last year, Germany approved arms exports to Israel worth 326.5 million euros ($363.5 million), including military equipment and war weapons, a 10-fold increase from 2022, according to data from the Economy Ministry, which approves export licenses. However, approvals have dropped this year, with only 14.5 million euros’ ($16.1 million) worth granted from January to August 21, according to data provided by the Economy Ministry in response to a parliamentary question. Of this, the “weapons of war” category accounted for only 32,449 euros. A source close to the ministry cited a senior government official as saying it had stopped work on approving export licenses for arms to Israel pending a resolution of legal cases, arguing that such exports from Germany breached humanitarian law. |
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Israel News |
20 killed, 450 wounded as Lebanon hit by 2nd wave of Hezbollah device explosions |
A fresh wave of explosions ripped across Lebanon on Wednesday afternoon, appearing to mainly target hand-held radios used by Hezbollah members, a day after thousands were wounded when their pagers spontaneously exploded in a coordinated attack widely blamed on Israel after months of cross-border fire. At least 20 people were killed and 450 were wounded in Wednesday’s second wave of blasts, according to Lebanese officials. An Israeli report said Jerusalem believes the death toll to be higher than reported, with Hezbollah’s elite Radwan unit hit hard by the two days of attacks. Explosions were reported Wednesday in phones, solar energy systems and fingerprint reading devices used by the group. At least one of the blasts took place at a funeral organized by Iran-backed Hezbollah for some of the 12 people killed in the blasts. A fresh wave of explosions ripped across Lebanon on Wednesday afternoon, appearing to mainly target hand-held radios used by Hezbollah members, a day after thousands were wounded when their pagers spontaneously exploded in a coordinated attack widely blamed on Israel after months of cross-border fire. |
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Iran says it reserves right to respond after ambassador wounded in Lebanon blasts |
Iran will follow up on an attack targeting its ambassador in Lebanon, the Iranian envoy to the United Nations said in a letter, adding that it “reserves its rights under international law to take required measures deemed necessary to respond.” Iranian Ambassador to Lebanon Mojtaba Amani was among the more than 1,000 people injured when the series of Hezbollah pagers exploded across Lebanon and in Syria yesterday. Israel, which has been blamed for the attacks, has not commented. |
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Netanyahu vows to return evacuated northern residents to their homes |
As signs increasingly point toward an Israeli operation against Hezbollah — and Israeli leaders speak about changing the reality on the border with Lebanon — Prime Minister Benjamin Netanyahu releases a cryptic 10-second video promising to get evacuated Israelis back to their homes. “I’ve already said, we will return residents of the north safely to their homes,” he says. “And that is exactly what we will do.” He makes no mention of the blasts targeting Hezbollah in Lebanon over the past two days, which have been blamed on Israel. |
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