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US President Joe Biden said on Wednesday that inflation in the country is "unacceptably high" and lowering it is his top economic priority.
In a statement released by the White House, Biden said he is "confident" that the Federal Reserve will do its job to lower the record-high inflation, adding that his administration has built a strong economy and a strong labor market.
"Beyond the Fed, my inflation plan is focused on lowering the costs that families face and lowering the federal deficit," he added.
The president's comments came after annual consumer inflation in the US rose 8.3% in April, according to the Department of Labor. The annual increase in consumer prices was 8.5% in March, the largest gain since December 1981.
The Fed raised its benchmark interest rate by 50 basis points last week, on top of a 25 basis-point rate hike in March, taking the target range for the federal funds rate to 0.75%-1%.
Although the Fed's monetary tightening aims to relieve inflationary pressures, it has caused recession fears for the economy./aa
France on Wednesday said it is “deeply shocked” over the death of Al Jazeera journalist Shireen Abu Akleh and called for a transparent investigation.
“France demands that a transparent investigation be undertaken as soon as possible to shed light on the circumstances of this tragedy,” a Foreign Ministry statement said.
The ministry reaffirmed its commitment to freedom of the press and the protection of journalists contributing to free information and public debate across the world.
Abu Akleh, 51, was shot dead while covering an Israeli military raid in the West Bank city of Jenin, on Wednesday morning. Another journalist Ali Al-Samoudi was shot in the back, according to the Palestinian Health Ministry.
The Doha-based network has accused Israeli forces of deliberately assassinating its reporter “in cold blood.”
Rayyan al-Ali, the director of the Forensic Medicine Institute at the An-Najah University in Nablus city, said Abu Akleh was fatally shot in the head./aa
The US hit a record-breaking number of drug overdose deaths last year, according to preliminary data by the Centers for Disease Control and Prevention (CDC) released on Wednesday.
The CDC's provisional estimate of 107,622 overdose deaths represents a dramatic 15% increase from the previous record set in 2020. In all, 93,655 were estimated to have died from overdoses that year.
The data are provisional, meaning they may change before they are finalized, but they nonetheless were cause for concern in the Joe Biden administration.
Dr. Rahul Gupta, the director of the White House's Office of National Drug Control Policy, said it is "unacceptable" that the US is now losing a life every five minutes to drug overdoses.
"That is why President Biden’s new National Drug Control Strategy signals a new era of drug policy centered on individuals and communities, focusing specifically on the actions we must take right now to reduce overdoses and save lives," he said in a statement.
Biden in April sent to Congress his strategy on national drug control to address the overdose epidemic./aa
The US sharply denounced on Wednesday the killing of a Palestinian-American journalist in the occupied West Bank during an “Israeli” raid, but did not assign blame for Shireen Abu Akleh's death.
"We are heartbroken by and strongly condemn the killing of American journalist Shireen Abu Akleh in the West Bank," State Department spokesman Ned Price said on Twitter. "The investigation must be immediate and thorough and those responsible must be held accountable. Her death is an affront to media freedom everywhere."
Abu Akleh, 51, was shot dead while covering an “Israeli” military raid in the West Bank city of Jenin Wednesday morning. Another journalist Ali Al-Samoudi was shot in the back, according to the Palestinian Health Ministry.
Rayyan al-Ali, the director of the Forensic Medicine Institute at the An-Najah University in Nablus city, said the autopsy he conducted determined Abu Akleh was fatally shot in the head.
The Doha-based Al Jazeera news network has accused “Israeli” forces of deliberately assassinating its reporter “in cold blood.” It said the killing was a “heinous crime, which intends to only prevent the media from conducting their duty.”
“Israel” has sought to pin blame for Abu Akleh's killing on Palestinian gunmen, posting a video to social media of alleged armed Palestinians firing in Jenin.
But “Israeli” rights group B'Tselem said the video does not correspond to the location where Abu Akleh was shot and killed, and that "documentation of Palestinian gunfire distributed by “Israeli” military cannot be the gunfire that killed Journalist Shireen Abu Akleh."
Abu Akleh was born in Jerusalem in 1971 and earned a BA in journalism and media from Yarmouk University in Jordan. She also holds US citizenship./aa
The EU strongly condemned on Wednesday the killing of Al Jazeera journalist Shireen Abu Akleh while covering an “Israeli” raid in the occupied West Bank and called for an investigation.
"The European Union strongly condemns the killing of Palestinian-American journalist of Al-Jazeera, Shireen Abu Akleh, in the occupied West Bank," the chief spokesperson for the EU diplomatic service, Peter Stano, said in an official statement.
He said it is significant that a "thorough, independent investigation clarifies all the circumstances of these incidents as soon as possible and that those responsible are brought to justice."
The statement also underlined that it is unacceptable to target working journalists and that their security must be assured./aa
The State of Kuwait and the US affirmed on Tuesday the importance of enhancing military cooperation in different fields.
This came during the meeting between Kuwait Army Chief of Staff Lieutenant General Khaled Saleh Al-Sabah and US Army Chief of Staff General James McConville at the US Department of Defence headquarters in Washington, DC, said the Army General Staff in a statement.
It noted that the Kuwaiti general visited the US Capital in a highly ranked delegation to participate in the 14th US-Kuwait Joint Military Committee. /Kuna
KUWAIT: Foreign Minister and Acting Minister of Defense Sheikh Dr Ahmed Nasser Al-Mohammad Al-Sabah led Kuwait’s delegation at an Arab League ministerial meeting held remotely on Wednesday. Under the directions of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Kuwait has provided assistance worth $100 million for global efforts to tackle coronavirus, some of which will go to Arab states, he said. Speaking to fellow ministers, he described the ongoing global pandemic as a “tangible threat to the security and stability” of the world. “Cooperation and coordination between our countries and the countries of the world is necessary,” he maintained.
On the Middle East crisis, he stressed Kuwait’s “principled and steadfast position” in support of Palestinians’ legitimate rights and statehood, along the 1967 borders and with a capital of East Jerusalem, and its continued support for the UNRWA in its assistance of Palestinian refugees. He also renewed the call for the international community to “seriously and carefully” consider the option for just and comprehensive peace as a strategic option that ends the Arab-Israeli conflict and preserves the rights Palestinian people. This may only be achieved through the implementation of the Arab Peace Initiative, Israel’s withdrawal from occupied Arab territories and the implementation of United Nations Security Council resolutions 242, 338 and 2334, he said.
In regards to the Syrian conflict, which has entered its tenth year, the minister described the situation there as having witnessed “unprecedented humanitarian tragedies… (where) external parties compete at the expense of the Syrian people.” He reiterated Kuwait’s stance in rejection of a military solution to the crisis, saying that a political settlement remains the only option in accordance with Security Council resolution 2245 and the 2012 Geneva Communique.
Yemen crisis
On Yemen, he said that the conflict there continues to threaten the security and stability of the Arab region as a whole as he underlined the need for a political solution based on the three basic references – the GCC initiative, national dialogue and Security Council resolution 2216. He expressed support for efforts by the UN to mediate consultations and dialogue between Yemeni parties aimed at reaching a political settlement, urging these parties to commit to the process. Saudi Arabia’s initiative to restart the Riyadh Accord talks was praised, as the minister reiterated Kuwait’s condemnation of attacks on the kingdom and support for all measures it takes to maintain its security and stability.
On Libya, he welcomed the announced ceasefire and cessation of hostilities, highlighting Kuwait’s support for global efforts aimed at ending the fighting and ensuring peace and stability there. He went to urge parties there to aim for the nation’s benefit above all other considerations, to commit to ending the violence and resort to peaceful dialogue as a means to end the ongoing crisis. The minister also welcomed the peace accords signed between the Transitional Government of Sudan and several opposition factions and expressed Kuwait’s support during the upcoming interim stage.
Solidarity with Lebanon, Sudan
The Arab League’s foreign ministers expressed their full solidarity with Lebanon to face the catastrophe of the explosion that targeted Beirut port, a key facility in Lebanon. In a statement issued at the end of the session, the ministers affirmed on their continued support to Lebanon to overcome the repercussions of this disaster, calling for unveiling the causes of this incident and hold those responsible for it.
They also called on the international community, and regional and international organizations working in humanitarian relief to continue their efforts in offering humanitarian and relief support to the Lebanese, the statement said. In addition, they stressed the importance of the role of the Arab League and the joint Arab action in providing all forms of humanitarian and relief backing to Lebanon and efforts contributing to removing the effects of this disaster, it added.
Meanwhile, the ministers affirmed their solidarity with the Sudanese government and people to face the consequences of the floods that engulfed a number of the Sudanese states, and caused big material losses and human casualties. They underlined the necessity in offering urgent relief to Sudan, urging the country’s friends and the international community as well as the non-governmental financial institutions and relief organizations to assume their role in aiding Sudan and its people to overcome this catastrophe, the statement concluded. – KUNA
Ramaphosa wants Africa to be given space to extract oil, gas as it partakes in global energy transition from fossil fuels
South Africa’s president said on Tuesday the future of mining on the African continent holds great promise for investment, industrial development and growth.
Addressing the continent’s largest mining investment summit being held in the capital Cape Town, Cyril Ramaphosa said his government is firmly committed to fulfilling its responsibilities to remove all impediments to the growth, sustainability, and prosperity of the mining industry.
“We are firmly committed to ensuring that mining occupies its rightful place as an industry of the future,” Ramaphosa said at the 2022 Investing in Africa Mining Indaba, also attended by the presidents of Botswana, Zambia, and the prime minister of the Democratic Republic of Congo.
Ramaphosa said it is important that South Africa be given space to extract oil and gas as it takes part in a global energy transition away from fossil fuels.
“As we confront the reality of energy insecurity and the development of new energy sources, it is critical that South Africa, like all developing economies, be given the necessary developmental space,” he said at the summit which also brought together several senior government representatives, leaders of mining companies, and investors among others.
He said countries on the African continent need to be able to explore and extract oil and gas in an environmentally-responsible and sustainable manner.
South Africa is the largest carbon emitter on the continent deriving 80% of its electricity by burning coal.
The country reached a deal last November at the COP26 (Conference of the Parties) with several industrialized countries, including the US, for funding its much-needed shift from coal.
Energy experts say Ramaphosa’s appeal for his country to be given space to extract oil and gas as it takes part in a global energy transition comes at a time when exploration for oil and gas off the coast of South Africa is increasingly being met with resistance.
Early this year, a court halted oil giant Shell’s seismic survey off the Wild Coast of South Africa after environmental activists and residents approached the court, stopping the multi-million dollar project.
Ramaphosa said mining remains a significant contributor to export earnings of his country and it is an important source of foreign direct investment, and directly employs nearly half a million people.
National average for regular gasoline up 6.3% from last month, an annual jump of almost 50%
US gasoline prices climbed to a record high level on Tuesday, rising over 4% from the previous week, according to data compiled by Anadolu Agency.
The national average stood at $4.374 per gallon (3.785 liters) for regular gasoline, up more than 1% from $4.328 on Monday, figures from the American Automobile Association (AAA) showed.
While this marked a 4.04% jump from last week's average of $4.204 per gallon, it was a gain of almost 6.3% from $4.116 on a monthly basis, and a whopping 47.4% from $2.967 a year ago, according to the data.
The highest price was seen in the state of California at $5.841 per gallon, followed by Hawaii and Nevada with $5.299 and $5.125 per gallon, respectively.
The states of Washington, Oregon, Arizona, and Illinois all saw gasoline prices climbing above $4.6 per gallon.
Record high gasoline prices are intensifying inflationary pressures on the US economy, where annual consumer prices in March climbed 8.5%, its largest gain in more than 40 years.
On an annual basis, the indices for energy and gasoline in March were up 32% and 48%, respectively, according to the latest data from the US Labor Department.
The Federal Reserve has so far raised interest rates twice, 25 basis points on March 16 and another 50 basis points on May 4, in order to tame record inflation.
Minneapolis Fed President Neel Kashkari said Monday he is confident that the country’s high inflation will decline to the central bank's 2% target with monetary tightening.
However, crude oil prices are on the rise with the Russia-Ukraine war creating supply worries, the EU preparing to ban Russian crude imports, and OPEC countries only gradually increasing production, falling short of meeting rising global demand./agencies
Russian forces have committed mass war crimes on Ukraine, says parliament of Baltic nation, which shares long border with Russia
Lithuania’s parliament on Tuesday voted unanimously to recognize Russia’s war against Ukraine as “genocide,” according to the Baltic country’s public broadcaster.
“Russia's armed forces and mercenaries have committed mass war crimes on Ukrainian territory, in particular in Bucha, Irpin, Mariupol, Borodyanka, and Hostomel,” Lithuanian National Radio and Television (LRT) quoted the resolution as saying.
Lithuania’s parliament “recognizes the full-scale armed aggression – war – against Ukraine by the armed forces of the Russian Federation and its political and military leadership … as genocide against the Ukrainian people," the resolution said.
The resolution stressed that all perpetrators must be held accountable and urged the international community to establish a special international criminal tribunal to investigate crimes committed by Russia.
"The Russian Federation, whose military forces deliberately and systematically target civilian targets, is a state that supports and perpetrates terrorism," the resolution said.
Lithuania, formerly part of the Soviet Union and now a NATO member, shares a 275-kilometer (171-mile) border with Russia.
At least 3,381 civilians have been killed and 3,680 others injured during the ongoing Ukraine war that started on Feb. 24, according to UN estimates. The true toll is feared to be much higher.
More than 5.91 million people have fled to other countries, with some 7.7 million people internally displaced, according to the UN refugee agency./aa