Podcasts about finance ministry

Israeli air strike on Gaza school kills over 20 Palestinians "At least 20 Palestinians were killed and dozens were wounded after an Israeli air strike hit a Gaza school sheltering displaced families, local officials say. Women and children were among the victims, with some bodies severely burned. Israel's genocidal war, now in its five-hundred-ninety-seventh day, has claimed over fifty-three-thousand-nine-hundred Palestinian lives, with more than eleven-thousand still missing under the rubble. Global outrage is growing as humanitarian conditions for Palestinians worsen due to the Israeli blockade. Meanwhile, Israel's Defence Ministry has overspent its war budget by four-point-seventeen billion dollars, sparking heated tensions with the Finance Ministry, which warns the gap may reach $7 billion. " Putin has gone absolutely crazy after Ukraine attack: Trump "US President Donald Trump has fiercely condemned his Russian counterpart Vladimir Putin, saying he's “gone absolutely crazy” after Moscow's massive weekend missile attack on Ukraine. Trump accused Putin of deliberately killing civilians and warned that trying to seize all of Ukraine could trigger Russia's downfall. While distancing himself from the conflict, Trump calls this conflict “Zelenskyy's, Putin's, and Biden's war.” The latest Russian assault is recorded as one of the largest strikes since the Russia-Ukraine conflict began three years ago." US delays EU tariffs while negotiating trade terms "US President Donald Trump has agreed to delay a looming 50 percent tariff on EU goods until July 9, following talks with European Commission President Ursula von der Leyen. Trump called the extension a ""privilege,"" while von der Leyen pledged swift, decisive negotiations to secure a fair deal. The move signals a temporary thaw in US-EU trade tensions, although key disputes over tariffs and regulations still loom, calming jittery global markets for now." Pakistan channels surplus power into bitcoin mining "In a bold tech-forward move, Pakistan will channel 2,000 megawatts of surplus electricity to bitcoin mining and AI data centres, the finance ministry announced. Spearheaded by the Pakistan Crypto Council, the initiative aims to harness excess power, boost high-tech employment, and attract global investment. Amid rising tariffs and a solar surge, the plan marks phase one of a sweeping digital infrastructure rollout designed to monetise idle energy and reshape the nation's tech landscape." Fenerbahce Beko win their second EuroLeague title "Turkish basketball club Fenerbahce Beko claims their second Turkish Airlines EuroLeague title, beating AS Monaco 81-70 in a thrilling final. The Istanbul giants dazzled with sharp shooting and relentless defence, led by standout performances from Nigel Hayes and Marko Guduric. Under coach Sarunas Jasikevicius's strategic guidance, Fenerbahce sealed a historic win, becoming the only Turkish club with multiple EuroLeague crowns."

積み上げられた輸送用のコンテナ。 Japan's current account surplus hit a record high in fiscal 2024 as a weaker yen boosted dividend and interest flows from overseas, a Finance Ministry report showed Monday.

Japan's current account surplus hit a record high in fiscal 2024 as a weaker yen boosted dividend and interest flows from overseas, a Finance Ministry report showed Monday.

*Key news articles for today*Net International Reserves inched up to USD48.14 billion at the end of April, up from USD47.76 billion in March. The ascent is driven by a USD1 billion increase in the value of gold component of reserves, driving the reserves up, despite the lower value of foreign currencies which recorded USD34.32 billion down from USD35.14 billion in March.Trump said the US would stop attacking the Houthis in Yemen, as Oman confirmed a "ceasefire" had been reached with the Iran-backed group for it to stop targeting shipping in the Red Sea.The Finance Ministry is looking to collect some EGP722 mn from the incoming stamp tax on EGX transactions in the upcoming fiscal year, as part of a broader plan to collect some EGP 61 bn from stamp duties through various channels, a government source said. The draft law for the implementation of the stamp tax on EGX transactions is currently in its final stages of preparation ahead of being submitted to the House of Representatives for final approval, upon which it would replace the long-delayed capital gains tax on bourse transactions.The Tourism Ministry is looking to secure some EGP200 mn to launch the second iteration of the subsidized loan program for hospitality players, Tourism Minister Sherif Fathy said.The International Finance Corporation (IFC) plans to invest USD1 bn in Egypt's agriculture and food industries during 2025, an IFC official said.The IFC is seeking to secure USD600 million in financing for the Abydos 2 project, which will be the largest photovoltaic solar power plant in Egypt, equipped with a battery energy storage system, and cost exceeding USD750 million.Egypt will host a delegation from the European Commission late in May to finalize negotiations to unlock a tranche of the EUR4 bn grant from the EU. Egypt is studying a plan to ramp up imports from Morocco to USD600 mn over the coming period to address the trade imbalance between the two countries.Chevron will invest at least USD120 mn in a new exploration concession to explore for oil and gas in the West Star concession in the northeast Mediterranean.OLFI released 1Q25 financial results, reporting net profit of EGP184 million (+17.2% YoY, -34.8% QoQ). OLFI is currently trading at FY25f P/E of 6.3x.POUL has signed an exclusive licensing agreement with French firm Avril to manufacture and distribute the “Sanders” and “Golden Horse” brands in Egypt and the Gulf region. The partnership involves investments totaling EGP200 million, with projected annual sales volume reaching 9,000 tons.Scatec has kicked off construction of its USD590 million, 1.1 GW Obelisk solar project with 200 MWh of battery energy storage in Nagaa Hammadi. The project will be fully operational in the second half of 2026. The project could cover up to 40% of EGAL's electricity needs and save more than 15% of the company's electricity cost. 

We published this morning our earnings expectations sheet for companies under coverage in 1Q25/FY25, with the following key conclusions:In FY25, aggregated net profit is expected to increase 10% YoYStocks that are expected to witness a shift from net loss to net profit YoY in 1Q25: ORHD and EGCHStocks that are expected to witness a spike (>80%) in net profit growth YoY in 1Q25: MBSC, CNFN, FAIT, MCQE, and ARCC. (sorted from highest rise in net profit)Stocks trading at P/E 2025 less than 5x: CCAP, EGBE, CICH, ADIB, and CANA. (sorted from lowest P/E)Please refer to our sheet published this morning for detailed earnings expectations and trading multiples.Egypt's total local and foreign debt repayment obligations are projected to jump around 30% to EGP2.1 trillion in the next fiscal year, up from an estimated EGP1.6 trillion for FY24/25.The Finance Ministry intends to issue new local debt instruments worth EGP1.5 trillion in the upcoming fiscal year, up from EGP1.2 trillion in the current fiscal year, as part of the government's plan to raise spending on social welfare and narrow the budget deficit.Egypt is among six Arab countries set to face a significant impact from Trump's tariff regime, assuming the tariff measures are fully implemented, the United Nations Economic and Social Commission for Western Asia (ESCWA) said in a policy brief. A significant impact is defined as at least 5% of a country's global exports going to the US.The state is working to liberalize the country's electricity market by 2026, along with restructuring the Egyptian Electricity Transmission Company (EETC) and its separation from the Egyptian Electricity Holding Company (EEHC).Federation of Egyptian Industries delegation is in Riyadh to talk investment in the Kingdom during a three-day business forum that wraps tomorrow. The government has estimated the financial allocations needed to import LNG and diesel shipments to meet the country's fuel needs during FY25/26 at approximately USD9.5 billion, compared to more than USD6 billion spent so far this year.President El-Sisi approved a USD500 million loan agreement from the International Bank for Reconstruction and Development (IBRD) to finance the Development Policy Financing for Resilience program.Scatec's 1 GW Obelisk solar plant will be connected to the grid by 220 kV transmission lines built under a contract between the Egyptian Electricity Transmission Company (EETC) with the consortium of Kharafi National and Power Ring. The project is planned to power EGAL's aluminum complex in Nagaa Hammadi. CCAP's United Foundries Company is planning to invest up to USD10 million in a new foundry in Helwan focusing on producing castings for the gold mining and cement industries, adding some 40k tons to the company's production capacity and bringing total output to around 70k tons annually.Hilton will open two new hotels in the New Capital. The two hotels, Hilton Cairo New Capital Downtown and Hilton Garden Inn Cairo New Capital Downtown, are scheduled to open in 2028.

The World Bank sees the Egyptian economy growing at a 3.8% y/y clip during the fiscal year 2024-2025, raising its outlook 0.3 percentage points from its 3.5% forecast in October.The Finance Ministry is considering exempting imported auto parts used in manufacturing from the 3% state development fee, to instead collect the fees upon commercial sales and during license renewals, following a proposal from car manufacturers, a government source said.Egypt's unemployment rate dropped to 6.6% of the total workforce in 2024, down 0.4 percentage points from 2023, according to data from CAPMAS.The Finance Ministry has issued a guide clarifying the eligibility criteria, obligations, and penalties under the newly approved tax code as well as the dispute-resolution mechanism that it outlines. SMEs will be taxed on their turnover, eliminating arguments with tax inspectors over expenses. The rates are ranges from 0.4% for companies with annual revenues below EGP500k; and 1.5% for revenues between EGP10 million and less than EGP20 million.Trump is demanding that American military and commercial vessels pass the Suez Canal and Panama canal “free of charge”. The Transport Ministry is offering up 23 dry ports and logistic zones investment projects, it said in a statement. Twenty French companies have begun serious negotiations with the Egyptian government to establish various projects in the Egyptian market, as part of their strategy to expand beyond their country's borders.The Suez Canal Economic Zone (SCZone) is anticipating total investments of more than USD90 billion in the green hydrogen industry, according to the zone's Vice President. Chairman of the Suez Canal Authority, Osama Rabie, revealed that the Authority aims to restore approximately 70% of the number of ships that used the Canal by 2023.

*Key news articles for today* The IMF raised Egypt's economic growth to 3.8% YoY this fiscal year, up 0.2pps from its January forecast. Its projection for the coming fiscal year was also up, likewise coming in 0.2pps higher from its previous projection to 4.3% YoY. The IMF also sees inflation continuing to dip this fiscal year to a monthly average of 19.7% YoY. The IMF forecasts global growth to log 2.8% in 2025, down 0.5 percentage point from previous estimates. Growth is expected to edge up to 3.0% in 2026, though this remains below the IMF's earlier projections at 3.3%. Kuwait is considering converting its c. USD4 billion deposits at the CBE into direct investments similar to the "Ras Al-Hikma" one. The Ministry of Petroleum aims to gasify 1.6 billion cubic feet per day of imported LNG starting next June through three to four gasification vessels, an increase of approximately 1.2 billion cubic feet compared to the quantities gasified during the winter of approximately 300 to 400 million cubic feet per day. The Finance Ministry is planning to introduce amendments to the Value Added Tax (VAT) Law that would scale back exemptions on sugar. Also, on the VAT exemption chopping block are training services, along with soap detergents.  The Finance Ministry raised its target for cigarette tax revenues to EGP111.7 bn, up from EGP95 bn this year. The first tax-driven price hike for cigarettes — a 12.5% increase — is slated for November, with no earlier adjustment expected unless diesel or fuel prices climb, according to the head of the Federation of Egyptian Industries' tobacco division. Three Chinese business delegations are headed to Cairo next month to discuss investment across multiple sectors.  Moroccan multinational outsourcing player Intelcia has inaugurated a new regional headquarters in Sheikh Zayed. MICH posted 9M24/25 key indicators recording a 15% YoY drop in bottom line to EGP428.3 million on lower FX gains despite a 19% YoY growth in revenue to EGP781.9 million. ORWE's subsidiary Oriental Industrial Projects (OIP) wants to set up a EGP300 mn SME-focussed complex in Ain Sokhna. The complex will house 20 industrial units and wrap up construction in 2025. ETEL revised its 2024 dividends' distribution date to 23rd of April 2025, instead of 24th of April 2025. EGTS's next court date for the 20.0 million sqm third phase Sahl Hasheesh land plot lawsuit is on 1 July 2025.

The MPC is scheduled to meet later today to decide on interest rates. We believe the CBE has the room to ease by up to 200 bps in its meeting today.The Finance Ministry has more than doubled its target for international debt issuances in the draft budget for the next fiscal year, coming in at a total of EGP400 billion (USD8 billion), up from EGP150 billion (USD3 billion) in the current fiscal year, according to official figures. Remittances from Egyptians abroad continued their upward pace at the start of the year, rising 83.2% y-o-y to USD2.9 billion in January, according to a statement from the CBE.  The Finance Ministry expects Suez Canal revenues from transit fees to almost double to USD6.3 billion in the budget draft for FY25/26, compared to USD3.7 billion estimated in the current fiscal year. Suez Canal revenues reached USD3.99 billion in 2024, a 61% decrease compared to USD10.25 billion in 2023, due to lower tonnage, impacted by Red Sea disruptions. Property developer Landmark for Real Estate Development (LMD) is in talks with the Egyptian government to develop a new USD4 billion mixed-use project in Cairo, Managing Partner Hamad Al Abbar said.Chevron — the operator of the last active exploration block in the Red Sea — is reportedly on its way out of the block it operates, Asharq Business reported, citing an unnamed government source. Investment Minister Hassan El Khatib and Tunisian Prime Minister Sara Zaafarani discussed putting into motion a proposal to establish a joint bank to facilitate investment and trade between the nations, according to a ministry statement.Petroleum products' subsidies increased by about EGP28 billion during the 9M24/25, reaching EGP104.9 billion, compared to EGP76.3 billion in the comparable period a year before.MBSC attributable bottom line recorded an impressive EGP495.0 million (+295% YoY, +199% QoQ) during 4Q24, bringing FY24 attributable bottom line to EGP833.5 million (+126% YoY). Enhanced profitability came on the back of sturdy revenue growth and operating margin expansion that trickled down to bottom line. MBSC is trading at FY25e P/E of 8.4x. MBSC BoD approved a capital decrease through the cancellation of treasury shares amounting to 6.1 million shares at a value of EGP61.1 million, resulting in issued and paid-in capital of EGP550.2 million.EFIC will distribute cash dividends of EGP15.00/share over three equal tranches on 30 April, 20 August, and 30 September 2025, for shareholders on record on 27 April 2025. This implies a dividend yield of 10% and a payout ratio of 62% of FY24 earnings. MFPC will distribute cash dividends of EGP1.00/share on 7 May 2025 and EGP2.50/share on 30 September 2025 for shareholders on record on 4 May 2025. DPS totals EGP3.50/share for FY24, implying a dividend yield of 8% and a payout ratio of 48% of FY24 earnings.OCDI intends to sign a co-development agreement with Midar in 3Q25 to develop a 4.2 million sqm land plot in East Cairo.

China unveils additional tariff measures on US goods; to raise additional tariffs on US goods to 125% from 84%. Effective April 12th.China's Finance Ministry says “if the US continues to impose additional tariffs on Chinese goods exported to the US, China will ignore it”.European indices hit after China raises tariffs; US futures modestly lower into bank earnings.DXY slumps to a 99.01 low after China increases tariffs on the US; EUR outperforms.Bonds lifted by China's latest retaliation but remain on track to end the week with significant losses.Base metals underpinned by hopes of Chinese stimulus.Looking ahead, US PPI, UoM Prelim, Moody's review on France, UK, Italy, Spain & Switzerland's Credit Rating, Speakers include Fed's Musalem, Williams & BoE's Greene. Earnings from JPMorgan, BlackRock, Wells Fargo, Bank of New York Mellon, Morgan Stanley & Fastenal.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Florida Ag Commissioner and Florida Forest Service are warning Floridians of a potentially busy wildfire season, and China's Finance Ministry is now imposing a 34% tariff on all U.S. imports.

California Bountiful TV, produced by the California Farm Bureau, and its host and executive producer, Aubrey Aquino, won two TASTE Awards, and China's Finance Ministry is now imposing a 34% tariff on all U.S. imports.

California Bountiful TV, produced by the California Farm Bureau, and its host and executive producer, Aubrey Aquino, won two TASTE Awards, and China's Finance Ministry is now imposing a 34% tariff on all U.S. imports.

*Key news articles for today*The EGP rallied against the greenback yesterday, snapping a four-day slide as one USD changed hands for around 51.33 at both public and private banks, as a handful of foreign portfolio investors cautiously bought back into Egyptian debt. Tariff relief could be on its way, with the US considering easing its recently imposed 10% tariff on exports from Egypt's Qualifying Industrial Zones (QIZs) as well as on some goods subject to most-favored nation (MFN) tariffs.Trump's new tariffs on dozens of countries have come into effect, including 104% duties on Chinese goods, deepening his global trade war.The Finance Ministry now sees Brent crude prices averaging USD77 per barrel from July 2025 through June 2026, down from its previous forecast of USD82 a barrel in the FY 2024-25 budget, a government source said. The government is looking to hedge against future uncertainties by renewing its annual hedging contracts with investment banks.The current decline in prices and renewed tariff-induced inflation concerns could also prompt the government to consider temporarily postponing fuel price hikes, especially as the average selling price inches closer to the break-even point of USD57 a barrel without government subsidies.Egypt, France — through the French Development Agency (AFD) and the EU inked nine agreements for soft loans and grants worth a combined EUR262.3 mn for infrastructure projects. The two sides also inked a number of agreements in other sectors.Italian energy giant Eni has plans to invest around EUR24 bn over the next four years in Egypt, Libya, and Algeria to boost production, each country will get EUR8 bn in investment.The Ministry of Transport is seeking soft loans from the French Development Agency (AFD) worth USD500 million over the next five years to cover the cost of implementing six future railway and metro projects that require imported components.ETEL announced distributing 2024's dividend per share of EGP1.50 on 24th April 2025. Record date is 17th April 2025.EFIH's general assembly approved distributing 5 bonus shares for every 10 shares originally held (1 share for every 2 shares). This brings the company's issued capital to EGP1.733 billion, distributed over 3.467 billion shares.GBCO's general assembly approved cash dividends distribution of EGP0.35/share for FY24, to be paid on two tranches, one on April 30, 2025, and the second on July 17, 2025. The record date will be on April 27, 2025. This implies a payout ratio of 13.0% and a dividend yield of 1.7%.ORWE's general assembly approved cash dividends distribution of EGP1.60/share for FY24, implying a payout ratio of 48.5% and a dividend yield of 7.0%.DOMT has given initial approval to a plan to split the company into two separate entities. The firm has appointed Matouk Bassiouny & Hennawy as the legal advisor for the demerger process.

The EGX30 dropped 3.3% at yesterday's close as global equity markets react to Trump's recent decisions. Other MENA capital markets fell too on the new tariffs and oil price plunge.The EGP fell just over 1% against the greenback in trading yesterday. The dip saw the EGP pass the 51-mark against the USD and slip to its lowest level since last year's March float. The drop came amid global uncertainty after Trump's tariffs came into effect over the weekend, provoking uncertainty which might have led investors to exit some high-risk markets and pull out of both local and foreign debt. IMF Executive Director and former Finance Minister Mohamed Maait told reporters yesterday that the global economic picture remains murky.Egypt targets attracting new French investments worth EUR1 billion in eight main sectors, including renewable energy, CIT, medical equipment, and food industries.The Ministry of Finance has announced plans to implement 12 projects as PPP, in the water, sanitation, and electricity sectors, with investments exceeding EGP60 billion. The Finance Ministry is looking into offering additional incentives and financial support to the first 50k SMEs that join the simplified tax system as first-time taxpayers, Finance Minister said.The Finance Ministry will begin issuing retail bonds through Egypt Post at what it describes as attractive interest rates. The Egyptian Drug Authority (EDA) is developing a new automatic pricing mechanism for pharma products that will adjust prices up or down based on fluctuations in input costs, most notably the EGP-USD exchange rate and raw material prices.The Ministry of Finance revised its budget estimates for the current fiscal year 2024-25, reducing total expenditures to EGP3.838 trillion, compared to EGP3.87 trillion in the budget estimates. It also raised the interest bill to EGP1.914 trillion from EGP1.834 trillion, lowered its public investment forecast from EGP495.8 billion to EGP385.5 billion, and maintained the subsidy bill at EGP635.94 billion.HELI (FV: EGP18.84, OW) reported 4Q24 net profit of EGP814.0 million, down 89.6% y/y and up 134.4% q/q, bringing FY24 net profit down 67.2% y/y to EGP2.6 billion. The Board proposed the distribution of cash dividends of EGP1.33/share, implying a payout ratio of 69.6% and dividend yield of 11.6%, and the distribution of 2:1 stock dividend.GBCO announced that it has been assigned by Hyundai Motors to be the official distributor of its luxury brand Genesis in Egypt.DOMT announced that it is still in the process of studying and negotiating with Arla Food to potentially exclude its bakery segment from the transaction.HRHO's Bank NXT reported a 54% y/y increase in FY24 net income to EGP1.8 billion. EGX announced the controls for the subscription rights for the ATLC capital increase, stating that the opening price of the right on the first trading day would be EGP1.27 per right.EGCH released FY25/26 budget with a net profit of EGP1.4 billion and total revenue of EGP9.5 billion, including EGP7.3 billion of export revenue. The company also released the investment budget with a total value of EGP7.1 billion.Weekly Commodities Update

The government will announce the revamped export subsidy program within weeks, Prime Minister Moustafa Madbouly said during his weekly presser yesterday The three-year program is expected to come into effect with the new fiscal year on 1 July.Egypt's interest payments on debt rose by 18.4% to EGP 939 bn in 1H FY 2024-25, according to the Finance Ministry's Monthly Finance Report. Interest payments also made up 5.5% of GDP during the period, according to the ministry's General Economic and Financial Outlook.GDP growth almost doubling y-o-y in 2Q FY 2024-25, coming in at 4.3% for the three-month period, up from 2.3% during the same period last year, according to a statement from the Planning and International Cooperation Ministry. The figures mark an uptick from the slowdown seen in 2Q FY 2023-2024, which saw growth decline sharply from the 3.9% recorded a year earlier on the back of global economic headwinds and domestic challenges. The Planning Ministry is projecting GDP growth of 4.0% for FY 2024-25, supported by private sector reforms and gradual economic recoveryCabinet approves the draft budget for the fiscal year 2025-2026. The state is targeting:a primary surplus of EGP 795 bn — or 4% of GDP.reducing the public debt to 82.9% next fiscal yeartrimming the debt-to-GDP ratio to below 92%.a 19% y-o-y jump in revenues to EGP 3.1 tn and a 18% y-o-y rise in expenses to EGP 4.6 tn.Alstom's invests EUR 80 mn in a manufacturing complex in Borg Al Arab, which will include a plant to produce electrical systems and railway components and another to produce units for the metro, monorail, high-speed train, and LRT.The Egyptian Tax Authority (ETA) is working on sector-specific tax guidelines across a number of sectors in Egypt's economy as part of an effort to eliminate tax disputes in the future.Chinese office supplies and stationary manufacturer Deli Group is planning to establish a USD 200 mn industrial complex in the Tenth of Ramadan City, according to an Industry Ministry statement.HDBK Annual General Meeting (AGM) has approved the distribution of cash dividends amounting to EGP5.00 per share. The distribution date is set for April 15, and the record date is April 10.SAUD to distribute cash dividends of EGP0.850 per share on April 16, 2025, with record date of April 13, 2025. The FRA approves BTFH's request to the issuance of an invitation to existing shareholders to subscribe to the remaining 424.22 million shares. MCQE's general assembly approved a cash dividend distribution of EGP1.00/share for FY24, to be paid over two tranches. The first tranche will be disbursed in June, followed by the second tranche in November.

The Madbouly government has formed new committees to address the effects of Trump's tariffs — direct and indirect. The committees are tasked with conducting a comprehensive review of Egypt's customs to adapt to recent global developments and, particularly, the tariffs imposed by some countries in response to US tariffs, a senior government official said. US President Donald Trump said auto tariffs will land “in the next few days,” with additional duties on pharma, lumber, and semiconductors set to follow “down the road”.  Trump said many of these levies will take effect on 2 April. Trump also confirmed a new 25% “secondary tariff” on any country purchasing oil or gas from Venezuela.Egypt aims to initially cut the customs clearance time for goods from eight days to just two — a measure that is expected to take between nine months to a year to be fully implemented. After that, the government aims to cut clearance time to just a few hours. The Finance Ministry aims to collect some EGP 74 bn in customs duties during the current fiscal year, a figure that may grow further with the resolution of disputes and the simplification of procedures, source said.The International Finance Corporation (IFC) will provide advisory services aimed at expanding private sector participation in Egypt's airports under an agreement inked with the Madbouly government yesterday, according to a cabinet statement.The government has requested a re-discussion and deliberation of some articles of the new draft labor law to ensure its compatibility with international standards and achieve greater balance in labor relations. This comes after the House of Representatives initially approved all articles of the law in its plenary session last Sunday.Khalda Petroleum Company plans to invest USD1.15 billion in drilling, exploration, and development activities during the next fiscal year, 2025-2026.An Egyptian-Turkish alliance, comprising the Egyptian Company for Trade and Agencies and the Turkish company "Kelpsen", intends to invest an initial USD10 million to establish a factory for water meters and valves.ARCC reported sturdy 4Q24 financial results with attributable bottom line recording a record EGP492.3 million in 4Q24 (+150% YoY, +55% QoQ), bringing FY24 attributable bottom line to EGP1,160.1 million (+66% YoY). ARCC's Board of Directors proposed no cash dividend distribution for FY24. ARCC is trading at FY25e P/E of 9.2x.ELEC reported a significant drop in attributable net income to EGP25.2 million (-91% YoY, -92% QoQ), bringing FY24 attributable net income to EGP1.3 billion (+6% YoY). COMI AGM decided to pay cash dividends of EGP2.50/share, which implies a payout ratio of 14% of 2024 net profit post minority, and to increase the issued and paid-in capital from EGP30.43 billion to EGP30.708 billion, as part of the ESOP.EXPA AGM approves to distribute 3.7:10 bonus shares.CIRA's BoD approved entering into an interest-free loan agreement convertible into shares in Social Impact Capital Educational Company, with a total amount of SAR15 million, to finance a capital increase in Social Impact Capital Educational Company, bringing CIRA's ownership stake at 61.56% of the company. 

Foreign holdings of public debt have returned to their pre-December levels, reaching approximately USD38 billion, the rise in demand from foreign investors is attributed to declining inflation figures coupled with expectations of an interest rate cut from the CBE in April.Kuwait is looking to increase its investments in Egypt to USD5.3 billion by the end of the year, equal to a 20% jump in the GCC nation's investments in Egypt.Kuwaiti officials informed Prime Minister Madbouly of the renewal of two deposits totaling USD4 billion.The government is planning to launch a retail bond market in 2025 as part of the government's efforts to diversify its public debt instruments.Air Liquide Egypt and China's United Energy Group (UEG) signed an MoU to develop green ammonia projects using green hydrogen in Egypt. The Finance Ministry is looking to amend the property tax law to raise the exemption threshold to EGP4-5 million, up from EGP2 million currently.Shipping company Hapag-Lloyd's plans to return to the Suez Canal will remain on ice. Looking ahead, the firm penciled in 2H25 for the gradual resumption of traffic.MPs will vote on three foreign grant agreements on Tuesday.Egypt is negotiating with Iraq to resume importing shipments of Iraqi crude oil. The UK is looking to boost its investments in infrastructure and aviation in Egypt, in addition to investing in the green energy sector.HRHO is negotiating with investors to subscribe to its Saudi Arabian Higher Education Fund to gather USD150 million. Consolidated Financial Holding reduced its stake in CNFN from 58.58% to 42.01%.

財務省、東京都千代田区財務省は１９日、森友学園を巡る同省の公文書改ざん問題で、関連文書の概要を与野党幹部と参院予算委員会理事会に提示した。 Japan's Finance Ministry showed on Wednesday an outline of documents related to a controversial state land sale to school operator Moritomo Gakuen to executives of the Budget Committee of the House of Councillors, the upper chamber of the Diet.

【図解】貿易収支の推移財務省が１９日発表した２月の貿易統計速報によると、輸出額から輸入額を差し引いた貿易収支は５８４５億円の黒字だった。 Japan logged a customs-cleared trade surplus of 584.5 billion yen in February, the biggest amount since March 2021, Finance Ministry preliminary data showed Wednesday.

Japan logged a customs-cleared trade surplus of 584.5 billion yen in February, the biggest amount since March 2021, Finance Ministry preliminary data showed Wednesday.

Japan's Finance Ministry showed on Wednesday an outline of documents related to a controversial state land sale to school operator Moritomo Gakuen to executives of the Budget Committee of the House of Councillors, the upper chamber of the Diet.

Last week on Thursday the foreign ministers of Greece, Cyprus and Israel met in Athens, a meeting that put their trilateral relationship back in the spotlight. This meeting also came as the region deals with important questions that range from the future of a post-Assad Syria to Washington's commitment to European security. Dr. Gallia Lindenstrauss, a senior fellow at Israel's National Institute of Security Studies, joins Thanos Davelis to discuss the challenges and opportunities for the trilateral partnership between Greece, Cyprus, and Israel in a shifting geopolitical environment.You can read the articles we discuss on our podcast here:Backing for Greece-Cyprus power linkAthens weighing its strategic optionsTurkey's Erdogan seeks meeting with Trump, Bloomberg News saysTurkey's Erdogan discusses Russia-Ukraine war, Syria in first official call with TrumpMitsotakis pledges tax cuts and increased investments during Finance Ministry visit

Egypt is expected to receive four LNG shipments by April, as the country looks to build up a strategic gas reserve.The Sovereign Fund of Egypt is conducting a comprehensive review of the privatization program that could see it expand the program to 40-60 state-run companies.Chinese textile manufacturer Jiangsu Guotai signed an agreement to set up a USD10 million readymade garment factory in the Qantara West Industrial Zone.The Tourism Support Fund approved extending the Aviation Incentive Program, which expires next April, to the summer season from May to October 2025. The CBE's net foreign assets rose to c. USD12.12 billion by the end of February, compared to c. USD12.02 billion the previous month, an increase of around USD99 million.SKPC Board of Directors proposed a cash dividend distribution of EGP0.75/share for FY24, implying a payout ratio of 26.8% and a dividend yield of 3.3%.ALCN (FV: EGP32.50, OW) issued neutral 2Q24/25 preliminary results. Bottom line amounted to EGP1.5 billion in 2Q24/25, down 21% QoQ but up 24.3% YoY. 1H24/25 bottom line came in at EGP3.4 billion (+55.9% YoY). ALCN is currently trading at FY24/25f P/E of 9.2x and EV/EBITDA of 8.1x.The Finance Ministry is expected to kick off the first phase of its planned desalination plants tenders, involving four plants with a combined capacity of 3 million cubic meters per day, in 2Q25. SCEM recorded strong FY24 results. Attributable net Income came in at EGP3,077.5 million in FY24, compared to a net loss of EGP121.4 million in FY23, noting that EGP1,517.4 million was attributed to the sale of an investment.Weekly Commodities Update

The Prime Minister announced that an oil and gas field was discovered in the King Mariout area, called Fayoum 5.Egypt's liquefied in facilities will start receiving 400 million cubic feet per day (mcf/d) from Cyprus' Cronos gas field starting mid-2027 and another 500 mcfd of gas from the country's Aphrodite field by 2030, a senior government official said.Cabinet approved a draft decision put forth by Prime Minister Moustafa Madbouly defining the responsibilities of the Industry Ministry and its affiliated entities.Cabinet approved the establishment of a green industrial zone for petrochemical and green hydrogen production in the Gulf of Suez's Ras Shukeir. It also gave an initial nod for the Transport Ministry to proceed with contracts for a green hydrogen and green ammonia project in Ras Shukeir in partnership with a consortium of international companies, the Red Sea Ports Authority, and the New and Renewable Energy Authority.The Finance Ministry allocated EGP1 billion in the current fiscal year's budget to fund the Automotive Industry Development Program (AIDP) and attract investments in car manufacturing.Saudi Arabia's Cabinet greenlit the Egypt-Saudi Agreement on Promotion and Mutual Protection of Investments that is expected to help protect Saudi investors as they ramp up investment in Egypt. Planning and International Cooperation Minister Rania Al Mashat said that the government expects growth to accelerate to 4.5% in FY2025-26, up from a 4.0% projection for FY2024-25.The Financial Regulatory Authority bumped up the limit on microinsurance coverage to EGP312.5k from EGP250k in a bid to safeguard low-income individuals and bolster their ability to invest in small businesses. The Environment and Finance Ministries are working to boost investments in waste-to-energy (WtE) projects by amending laws regulating public contracts and increasing the feed-in tariff rate.The number of factories in the Suez Canal Economic Zone (SCZone) has doubled to 130 over the past three years, with another 120 under construction.DOMT reported 4Q24 bottom line of EGP143.3 million (+41.1% YoY, -14.1% QoQ). This brought FY24 bottom line to EGP501 million (+10.3% YoY). DOMT's BoD proposed cash dividend distribution of EGP0.85/share for FY24, implying payout ratio of 47.9% and dividend yield of 3.1%. DOMT is currently trading at FY25 P/E of 9.0x.SWDY will deliver 50% of the engineering works and supplies needed for the EUR700 million combined cycle power plant it is building in Hungary.

The IMF is set to sign off on Egypt's fourth review of its USD8 billion loan program when the Fund's Executive Board meets on Monday, March 10. Indian plastic packaging manufacturer Flex PET opened its polyethylene terephthalate resin manufacturing plant with investments of USD175 million.Chinese textile manufacturer Zhejiang Cady Industry inaugurated its new USD100 million textile and ready-made garments factory in the Teda industrial zone in Ain Sokhna. French multinational Air Liquide officially opened its EUR80 million medical and industrial gas production factory in the Sokhna Industrial Zone.CBoard, a member of Saudi construction materials manufacturer conglomerate Beam, inaugurated the expansion of a cement board and wall manufacturing facility. India's Abdos opened its USD30 million cosmetics manufacturing plant. The state is set to spend some EGP170 billion on wage and pension hikes during FY 2025-26, according to a Finance Ministry statement. The net foreign assets of the Egyptian banking sector, including the CBE, rose by USD3.5 billion in January to USD8.7 billion. The European Bank for Reconstruction and Development (EBRD) has lowered Egypt's growth forecast for 2025 to 4.2%, down 0.3 percentage points from its previous estimates in September.Egypt has no plans to alter its tax regime in the near future, a senior government official said.The Finance Ministry has secured a USD500 million loan from Deutsche Bank and Bank ABC.EU Commissioner for the Mediterranean Dubravka Šuica is in Egypt today for high-level discussions on the New Pact for the Mediterranean and to ink a EUR90 million project, dubbed Egypt Food Resilience, with the government.The Sovereign Fund of Egypt has formed a committee to list all government companies for the purpose of adding them to the fund during the coming period.The government is reportedly considering imposing taxes on Egyptian companies that generate revenues from abroad, while avoiding double taxation.FWRY reported 4Q24 results. Net profit came in at EGP500 million (+119% YoY, +4.7% QoQ). In 2024, net profit recorded EGP1.606 billion (+125% YoY). FWRY is currently trading at 2025f P/E of 13.1x.ETEL's BoD proposed distributing cash dividends of EGP1.50/share (subject to the general assembly's approval), implying a DPO of 25.4% and a DY of 3.9%.GBCO reported attributable net profit recorded EGP1,135 million this quarter (+82.9% YoY, +52.0% QoQ). FY24 bottom line grew by 54.9% YoY to reach EGP2,928 million. GBCO is currently trading at a FY25 P/E of 4.3x.ORWE reported attributable net profit of EGP329 million in 4Q24 (-25.8% YoY, -46.5% QoQ), bringing FY24 bottom line to EGP2,192 million (+130.3% YoY). ORWE's BoD approved cash dividends distribution of EGP1.60/share for FY24, implying a dividend yield of 6.5%. ORWE is currently trading at a FY25 P/E of 4.1x.POUL attributable net profit of EGP584 million in 4Q24, an increase of 24.0x YoY and a drop of 14.3% QoQ. This brought FY24 attributable net profit to EGP2,387 million (+108.0% YoY). POUL is currently trading at FY25 P/E of 4.3x. ESRS repurchased EGP21.6 billion worth of shares from shareholders opposed to the group's voluntary EGX delisting. EMFD reported an increase of 177.5% y/y and 87.5% q/q in 4Q24 net profit to EGP5.1 billion, bringing FY24 net profit up 126.1% y/y to EGP15.4 billion.CICH 4Q24 net attributable profits post minority recorded EGP616.8 million (+79.4% q/q, +109.9% y/y), bringing FY24 bottom line to EGP2.2 billion (+114.6% y/y). CICH BoD proposed a cash dividend distribution of EGP0.70/share for FY24, implying a dividend yield of 11%. CICH is currently trading at P/B25 of 0.7x and P/E25 of 2.8x.

A seasoned investor who ran India's Finance Ministry.This week on The Neon Show, we welcome Jayant Sinha—Investor, Policy Maker, and former Minister of Finance & Civil Aviation.Mr. Sinha shares how the government builds innovative investment solutions for startups and large-scale funding programs for institutions.He played a key role in launching a ₹2,000 crore Fund of Funds, which invests in startups through domestic VCs. He was also instrumental in establishing India's Sovereign Wealth Fund, managing ₹39,000 crore in assets as of 2024.As Civil Aviation Minister, he worked on policies like UDAN to make aviation more inclusive and played a key role in DigiYatra, driving digital transformation in air travel.Mr. Sinha is focused on policies that drive India's economic growth in a climate-conscious way. From research to action, he is working across policy, investment, and technology to shape India's path towards Net Zero.Read Jayant Sinha's Latest book : “India's Green Startups:Entrepreneurs That are Driving Growth” - https://www.amazon.in/India%EF%BF%BDs-Green-Startups-Entrepreneurs-Paperback/dp/9353458633  00:00 - Highlights03:01 – Growing up in a diplomat household05:34 – Working at McKinsey06:48 – The Opportunity cost of a political career08:03 – From Harvard to Hazaribagh09:18 – Exposure to Policymaking & elections11:52 – First electoral win in 201414:37 – Twice chosen as Union Minister15:33 – Arun Jaitley: Also an Excellent Advocate16:55 – India's Sovereign Wealth fund18:17 – Higher Education Financing Agency19:32 – Taxation of Alternative Investment Funds20:17 – Fund of Funds for Domestic VC's21:47 – Aviation Reforms: UDAN & Digiyatra30:26 – Privatization of Air India33:32 – India's vision to lead globally35:42 – India's path to a green future39:31 – The CO₂ blanket effect42:04 – Nuclear fusion as a zero-carbon solution44:24 – Why land will be hotter46:13 – How climate change affects Economy48:57 – India's Net Zero Goals50:04 – $1 Trillion Investment to Finance Net Zero55:00 – Scaling green businesses in India56:26 – Global North's carbon responsibility vs India's emissions1:00:52 – Chronic health effects of pollution on children1:02:07 – What India can learn from Beijing1:06:42 – India's Net Zero Bill & global legislation1:08:08 – Personal connection to The Environmental Cause1:12:47 – Trump's impact on the global green mission1:15:05 – Why India must invest in R&D---Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys. Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.---Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7---This video is for infoSend us a text

*Key news articles for today* The Finance Ministry is set to reduce penalties for late tax payments by up to 90% as part of its larger tax relief package, in a move that aims to resolve thousands of disputes resulting from delayed tax return submissions or filing returns without paying the due tax. The countdown to the Grand Egyptian Museum's official opening is on 3 July launch after President Abdel Fattah El Sisi approved the date.The government sent a high-level delegation to Rabat earlier this week to push for the removal of recent restrictions that have left Egyptian exports piling in Morocco's ports for two weeks.Egypt and the UAE kicked off talks for a Comprehensive Economic Partnership Agreement, to strengthen trade, investment, industry, energy, and infrastructure collaboration.The government is negotiating with the countries of origin to import wheat under the equal deals system, in an attempt to secure its grain stock and relieve pressure on the dollar at present.The government paid about EGP6 billion in compensation for the Ras El-Hikma area, as part of the compensation and removal plan for the area.The House of Representatives approved in principle the draft labor law submitted by the government, during a session while discussing the report of the Manpower Committee on the draft.The government is studying amending the real estate tax law, and the Real Estate Tax Authority has submitted a proposal to raise the tax exemption limit for residential units, which currently stands at about EGP2 million, in light of rising real estate prices and increasing inflation rates. A source said that the limit might be raised to EGP3 - 4 million.Eroglu Garment, a subsidiary of Turkish clothing manufacturer Eroglu Holding, is investing some USD120 mn in a new integrated garment factory in the Qantara West Industrial Zone.UAE's Dana Gas has set a plan to invest around USD100 million in Egypt, including drilling 11 wells over the next two years, according to the company's head of investor relations.ISPH issued positive 4Q24 results where bottom line amounted to EGP208 million that is up by 12.5% QoQ and 4.3x YoY. On an full year basis, 2024 bottom line came in at EGP615 million that is up by 1.9x YoY. ISPH in trading at 2025 multiples of P/E of 8.9x.EGCH released 2Q24/25 unaudited financial indicators posting a significantly enhanced bottom line of EGP772 million, compared to EGP163 million in comparative quarter and only EGP38 million in previous quarter, which included EGP173 million in real estate revaluation gains. EGCH is currently trading at a 2024/2025e PE of 29.1x.United Bank (UBEE) 2024 net income after tax jumped 63% y/y, to record EGP 2.8 bn.CNFN has formed a strategic partnership with Auto Mobility, the official Geely agent, to offer full insurance solutions tailored for Geely vehicle owners. Egypt's financial inclusion rate, the percentage of citizens above the age of 15 who hold bank accounts, mobile wallets, or prepaid cards, jumped to 74.8% by the end of 2024 up from 71% at the end of 2023.OCDI Board approved merging seven of the company's subsidiaries, with authorized capital of the company post-merger amounting to EGP25.0 billion and paid-in capital amounting to EGP5.2 billion distributed on 1.3 billion shares. 

The Finance Ministry is gearing up to complete its first sovereign sukuk issuance of the year within the next month, with the issuance set to be around EGP2-3 billion.The Cabinet approved the launch of a EGP30 billion financing initiative to support and finance priority industrial sectors. UAE's AMEA Power signed an agreement with the Egyptian Electricity Transmission Company to develop two battery energy storage systems (BESS) with a combined capacity of 1.5 GWh.Prime Minister met with Kuwait's Prime Minister Sheikh Ahmed Al Sabah during his official visit to the Gulf nation, where the two leaders discussed boosting relations between the two countries across various sectors. The Central Bank of Egypt sold EGP89.8 billion in t-bills between Thursday and yesterday at average yields between 25.5-29.2%, according to CBE data.Forty-seven ships changed course this month to pass through the Suez Canal instead of sailing around the Cape of Good Hope, Suez Canal Authority head Osama Rabie said.Egypt intends to buy electricity produced from wind energy projects which will be implemented by Saudi Arabia's ACWA Power, south of Hurghada, at a price of 2.4 cents KWH, which will be partially paid in EGP and the bigger bulk in USD, according to a government official.Government's revenues from Suez Canal declined in 2024 to EGP146.4 billion, as compared to a target of EGP168.45 billion in the state budget. The EGX and the Financial Regulatory Authority (FRA) are mulling a regulatory update to either scrap or revise the duration of the lock-up period on the ownership of substantial shareholders post-IPO. EKHO released 4Q24 consolidated financial results. Net profit dropped 8% YoY (+14% QoQ) to USD39 million. The BoD proposed a cash dividend distribution of USD0.035/share for FY24. The Board also proposed the distribution of one bonus share for each 20 original shares. EKHO is currently trading at 2025f PE of 5.2x.EKHO to invest around USD150-200 million in the coming 18 months. The Egyptian Refining Company (ERC) intends to conduct a major overhaul of the Mostorod refinery with investments exceeding USD100 million. ABUK tapped board member and former transport minister Hany Dahy to head a new steering committee tasked with overseeing the company's business operations. FWRY acquired a 56% stake in Virtual CFO, a financial services and accounting firm catering to SMEs and startups.MCQE reported solid financial results for 4Q24. Attributable bottom line came in at an impressive EGP176 million (+708% QoQ, +117% YoY), bringing FY24 attributable bottom line to EGP238 million (+151% YoY). The BoD proposed a cash dividend distribution of EGP1.00/share for FY24. MCQE is trading at a FY25 P/E of 18.2x.EXPA 4Q24 bottom line post minority interest recorded EGP1,265 million (-19% q/q, +15% y/y), bringing FY24 net profit to EGP5,203 million (+54% y/y and 7% higher than Al Ahly Pharos estimate of EGP4,879 million). BoD proposed the distribution of 0.4 bonus share to every original share. EXPA is currently trading at 3.3x P/E 2025 and 0.7x P/B 2025.QNBE's general assembly approved paying out a cash dividend of EGP1.50/share out of 2024 earnings.OLFI's general assembly approved cash dividend distribution of EGP2.00/ share for FY24, implying payout ratio of 80% and dividend yield of 10.7%.According to local media, JUFO signed a financing agreement worth more than EGP1.0 billion with Emirates NBD Egypt.

 Jon Lindborg, a veteran in development, discusses the impact of the USAID freeze on Indonesia.  Also: budget cutbacks and an arrest in the Finance Ministry.For a free trial of Reformasi newsletter, go to reformasi.infoRead Erin's newsletter Dari Mulut Ke Mulut here: https://darimulut.beehiiv.com/It takes a lot of money to run a podcast. You need subscription fees for hosting, audio recording services, editor's salary and music licensing. Luckily, you, estemeed listeners of Reformasi Dispatch podcast can help us.You can donate to us on buymeacoffee.com/reformasi and help us grow!

The government is currently working on preparing the budget for FY 2025-26, all while preparing a comprehensive three-year budget with a financial ceiling that can only be exceeded in exceptional cases, one of the sources said. Government entities will also submit another budget covering FY 2026-27 to FY 2029-30. Ministries will be given cabinet-approved financial ceilings that can't be exceeded.The Public Government Budget is set to rise to somewhere in the vicinity of EGP8 tn in the fiscal year 2025-2026, up from EGP6.6 tn in the current fiscal year, as the government looks to incorporate additional state economic bodies' budgets into the budget, a government source told local press.The budget pencils in growth of around 5-5.5%, reduced public debt, and a primary surplus amounting to approximately 4% of GDP.The government is also working on reducing the amount of funds allocated for fuel subsidies from the current fiscal year's EGP150 bn.The government is planning to further cut down public investments and is set to, instead, rely on self-financing through various entities and limit spending to highly urgent projects or those already nearing completion, the sources said.The Finance Ministry is looking to launch a new public debt policy document by the end of March.Phase two of the new capital's development will be offered to a French investment consortium in March.The Minister of Finance revealed the features of the proposed package of reforms of the customs system through 19 proceduresزCIEB released 4Q24 consolidated bottom line of EGP1,944 million (+4% q/q, +44% y/y ), bringing FY24 bottom line to EGP8,030 million (+55% y/y and perfectly in line with Al Ahly Pharos estimate of EGP8,039 million). CIEB is currently trading at P/E25 of 3.1x (based on bottom line post minority and appropriations) and P/B25 of 0.9x. CIEB's BoD proposed cash dividend distribution of EGP3.82/share, implying a payout ratio of 60% and DY of 20%, pending the CBE and AGM approvals.CCAP reported a consolidated net profit after minority interest of EGP114.5 million in 3Q24 (-94% YoY, -108% QoQ). The company is currently trading at FY25e P/E of 1.4x and EV/EBITDA of 4.8x.Minister of Petroleum appointed Maged Mostafa El Kordy as acting chairman and managing director for AMOC. State-owned El Nasr for Fertilizers & Chemical Industries (Semadco) is gearing up to set up a wind farm and solar power stations with a combined capacity of 500 MW to power its new green ammonia factory in Suez, according to local media.FWRY has acquired a majority stake in Code Zone, a manager of local hospitals and medical institutions, as part of its strategy to invest in complementary startups. The company is also in negotiations with Gulf firms to expand its presence in Saudi Arabia and the UAE. In the first quarter, Fawry plans to launch new investment services focused on the stock market and gold, including various investment funds. Additionally, the company is considering applying for a digital bank license and has introduced Fawry Business, a platform designed to assist local companies with digital transformation, offering payment management, e-receipts, SME loans, and salary management solutions.EFIH and its sister company eHealth will work together to link the Universal Health Insurance System with social protection systems under an MoU they inked with the Social Solidarity Ministry and the Universal Health Insurance Authority (UHIA).ARCC signed a EUR25 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to fund energy efficiency upgrades and expand alternative fuel use. 

【図解】経常収支の年間推移財務省が１０日発表した２０２４年の国際収支速報によると、海外とのモノやサービスの取引、投資収益の状況を示す経常収支の黒字額は前年比２９．５％増の２９兆２６１５億円と過去最高となった。 Japan's current account surplus in 2024 grew 29.5percentagefrom the previous year to a record 29,261.5 billion yen mainly because of higher dividend and interest receipts from abroad, the Finance Ministry said in a preliminary report Monday.

財務省は１０日、国債と借入金、政府短期証券の残高を合計した「国の借金」が２０２４年末時点で１３１７兆６３６５億円となり、過去最大を更新したと発表した。 The outstanding balance of Japanese government debt hit a record high of 1,317,636.5 billion yen at the end of 2024, the Finance Ministry said Monday.

The outstanding balance of Japanese government debt hit a record high of 1,317,636.5 billion yen at the end of 2024, the Finance Ministry said Monday.

China will impose additional tariffs ranging from 10 to 15 percent on US products, and launch an anti-monopoly probe into Google Inc, as well as other trade measures amid growing trade tensions with the United States.随着中美贸易关系日益紧张，中国将对美国产品加征10%至15%的额外关税，并对谷歌公司启动反垄断调查，同时还将采取其他贸易措施。An additional 15 percent tariff will be imposed on coal and liquefied natural gas imports from the US, as well as an additional 10 percent tariff on crude oil, agricultural machinery, large-displacement automobiles and pickup trucks, starting on Feb 10, the Customs Tariff Commission of the State Council said on Tuesday.2月4日，国务院关税税则委员会表示，自2月10日起，中国将对从美国进口的煤炭、液化天然气加征15%的额外关税，对原油、农业机械、大排量汽车、皮卡加征10%的额外关税。The move followed the US announcement that it would impose an additional 10 percent tariff on goods imported from China.此举是在美国宣布将对从中国进口的商品加征10%的额外关税之后作出的。The Finance Ministry said the unilateral imposition of tariffs by the US seriously violates the rules of the World Trade Organization, fails to solve the US' own problems, and undermines normal economic and trade cooperation between the two countries.财政部表示，美方单边加征关税的做法严重违反世界贸易组织规则，不仅无益于解决自身问题，也对中美正常经贸合作造成破坏。"The additional tariffs announced by China will cast a shadow on a significant number of US companies. Once a US company withdraws from the Chinese market due to tariff pressures, the obstacles in terms of reestablishing a presence can be substantial," said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.商务部国际贸易经济合作研究院高级研究员周密指出：“中国宣布加征额外关税将给大量美国公司带来阴影。一旦某个美国公司因关税压力而退出中国市场，它想重新进入市场将会面临巨大阻碍。”Zhou added that the attractiveness of the Chinese market remains a powerful draw for those US companies, prompting calls for Beijing and Washington to engage in open and constructive discussions and find a path forward that addresses the concerns of the businesses of both sides while upholding their respective economic interests.周密还表示，中国市场对这些美国公司来说仍然具有强大吸引力，这促使北京和华盛顿进行开放性和建设性讨论，找到一条既能解决双方企业关切又能维护各自经济利益的前进道路。US President Donald Trump told The Wall Street Journal on Monday that he planned to speak with the Chinese leadership in the next 24 hours about tariffs, and Trump also said the 10 percent planned tariffs were just "an opening salvo".2月3日，美国总统唐纳德·特朗普在接受《华尔街日报》采访时表示，他计划在未来24小时内与中国领导人就关税问题进行讨论，并称计划加征的10%关税只是“初步行动”。As trade tensions with the US escalate, China has filed a lawsuit with the WTO's dispute settlement mechanism to defend its legitimate rights and interests. China firmly opposes the US approach and urges the US to immediately correct its wrong practices, the Ministry of Commerce said on Tuesday.随着中美贸易紧张局势的升级，中国为捍卫自身合法权益，已向世界贸易组织争端解决机制提起诉讼。2月4日，商务部表示，中方对美方做法坚决反对，敦促美方立即纠正错误做法。China has also announced a group of export control policies on key minerals. The Ministry of Commerce said that since Tuesday, it has added tungsten, tellurium, bismuth, molybdenum and indium-related items to the export control list.中国还宣布了一系列针对关键矿产的出口管制政策。商务部表示，自2月4日起，将钨、碲、铋、钼、铟相关物项纳入出口管制清单。The Commerce Ministry also put US clothing company PVH Corp and biotechnology company Illumina Inc on its unreliable entity list. China will take corresponding measures against the two companies in accordance with relevant laws and regulations.商务部还将美国服装公司PVH集团和生物技术公司因美纳公司列入不可靠实体清单，并表示将依据相关法律法规对这两家公司采取相应措施。"The two companies violate normal market trading principles, interrupt normal transactions with Chinese enterprises, take discriminatory measures against Chinese companies and seriously damage the legitimate rights and interests of Chinese firms," the ministry said in a statement.商务部在一份声明中表示：“这两家公司违反正常的市场交易原则，中断与中国企业的正常交易，对中国企业采取歧视性措施，严重损害中国企业合法权益。”The State Administration for Market Regulation, China's top market regulator, said on Tuesday that it has initiated an investigation into US tech giant Google Inc for suspected violations of China's Anti-Monopoly Law.2月4日，中国国家市场监督管理总局表示，已对美国科技巨头谷歌公司涉嫌违反《中华人民共和国反垄断法》展开立案调查。Luo Zhiheng, chief economist at Yuekai Securities, said China should resort to effective countermeasures against any tariff threats by the White House, while optimizing domestic policies and anchoring market expectations.粤开证券首席经济学家罗志恒表示，中国应针对白宫提出的任何关税威胁采取有效反制措施，同时优化国内政策、稳定市场预期。"Based on the experiences gained during the first Trump administration, China can utilize measures such as imposing additional tariffs and export controls to counter trade threats from the US," Luo said.罗志恒说：“参考特朗普第一任政府期间的经验，中国可以采取加征额外关税和出口管制等措施来应对美国的贸易威胁。”He added that China should continue to broaden the list of sanctioned goods and entities, and increase Beijing's negotiation leverage with Washington.他还表示，中国应继续扩大商品和实体清单制裁范围，并增加北京与华盛顿的谈判筹码。Given heightened global uncertainties, China should scale up the intensity of its fiscal and monetary policies, actively expand domestic demand to counter any potential downturns in external demand, and steadily push forward high-level opening-up, expand networks with trade partners and diversify its trade portfolios, Luo said.罗志恒认为，鉴于全球不确定性上升，中国应加大财政货币政策的力度，积极扩大内需以对冲外需可能的下滑，同时稳步推进高水平对外开放，扩大中国的贸易“朋友圈”，大力拓展对外贸易多元化。discriminatoryadj.歧视的，区别对待的

Elias Makos begins the week with Jimmy Zoubris, special advisor to the Mayor, and Sue Smith, a Montreal journalist and broadcaster. Donald Trump wasn’t bluffing after all… As his 25% tariffs on Canadian goods came into effect on Saturday. But Canada was quick to respond with Justin Trudeau announcing 25% tariffs on a range of US goods The new tariffs imposed by the Trump administration will have significant economic impacts on Canadians, including job losses, a declining Canadian dollar, and market volatility Quebec’s Finance Ministry has ordered the SAQ to remove all American alcoholic products from its shelves starting Tuesday in response to US tariffs on Canadian goods At several sports events in Canada, fans have been booing the US national anthem in response to new tariffs

S&P futures are indicating a higher open, up +0.22% this morning. Asian equities ended mixed on Wednesday while European markets opened mostly higher. In Asia, Political uncertainty in South Korea takes center stage as opposition parties submitted a motion to impeach President Yoon following his attempt to impose martial law, which lawmakers blocked late Tuesday. The Bank of Korea and Finance Ministry pledged emergency measures to stabilize the markets, including increasing short-term liquidity. Meanwhile, French lawmakers are set to vote on a no-confidence motion that could topple Prime Minister Barnier's coalition government. Companies Mentioned: Microchip Technology, KKR, GXO Logistics

In South Sudan, a week-long Governors' Forum has ended with recommendations calling for intergovernmental relations, constitution-making, elections, and for the Finance Ministry to pay salary arrears and the monthly wages of public servants. They also called on the national government to provide funding to the National Constitutional Review Commission to carry out its work. Ter Manyang Gatwech, co-founder and executive director of the Center for Peace and Advocacy, a South Sudan civil society organization which also attended the forum, tells VOA's James Butty, civil society has an important role in making sure that these recommendations are carried out.

【図解】貿易収支の推移財務省が２０日発表した１０月の貿易統計速報によると、輸出額から輸入額を差し引いた貿易収支は４６１２億円の赤字だった。 Japan incurred a customs-cleared trade deficit of 461.2 billion yen in October, against the year-before deficit of 702.9 billion yen, the Finance Ministry said in a preliminary report Wednesday.

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened up 68-points this morning from yesterday's close, at 22,614 on turnover of 4-billion N-T. The market tumbled on Monday, falling almost 200 points, as the bellwether electronics sector trended lower after a decline on Wall Street at the end of last week sparked by fears the U-S Federal Reserve is set to slow down the pace of its current rate cut cycle. Court Rules Women's League has KMT Links The Taipei High Administrative Court has ruled that the National Women's League was an affiliate of the K-M-T before 2004 and as such has been ordered pay 17.89-billion N-T to the state. The ruling comes after the women's group sued the Ill-gotten Party Assets Settlement Committee in 2018. The lawsuit was filed shortly after the committee classified (分類) the National Women's League as a K-M-T affiliate in February of that year. The women's league had argued it had not been controlled or run by the political party and the committee's classification was incorrect. The committee also froze the assets of the women's group, including 38.5-billion N-T in cash. Man Involved in High Speed Rail Knife Incident Released on Bail The Taipei District Court has released man who punched a woman on a high speed rail train and damaged a tray table with a knife on 29,000 N-T bail. The court ruling comes after the Railway Police Bureau's Taipei branch announced it had arrested in Nantou. The suspect was then referred to the Taipei District Prosecutors' Office for further investigation on suspicion of threatening members of the public, assault (攻擊) and damaging private property. The incident occurred while the train was traveling between Banqiao Station in New Taipei and Taipei Station. The Railway Police Bureau says it will increase the number of patrols to ensure passenger safety. Biden Pledges Funding to Fight Poverty US President Joe Biden has pledged $4 billion for the world's poorest countries. The announcement came after Brazilian President Luiz Inacio Lula de Silva launched a global alliance (全球性聯盟) to fight hunger and poverty at the G20 meeting of the world's leading economies in Rio de Janeiro. Kate Fisher reports Finland Germany Undersea Cable Severed German and Finland have expressed deep concern over the discovery of a severed undersea cable between the countries through the Baltic Sea. The two countries say it raises suspicions of sabotage and that an investigation is underway. Finnish authorities say the severed data cable was detected Monday in the cable that runs nearly 1.200 kilometers from the Finnish capital, Helsinki, to the German port city of Rostock. They say Finland's international data and telecommunications connections are secured by running them through several redundant (額外的，重複的) lines, and the effects of a single cable failure would depend on the security level of service providers' connections. Greece to Make Early Repayment on Debt Prime Minister Kyriakos Mitsotakis says Greece is set to make an early repayment of $5.3 billion in bailout-era debt in 2025. Mitsotakis on Monday described the move as a signal of the nation's fiscal recovery. Finance Ministry officials say they plan to reduce debt through primary surpluses, loan repayments and combating tax evasion. Mitsotakis' center-right government was elected for a second term in 2023. It's struggling to address a cost of living crisis that has sapped (削弱了) Greeks' spending power. That was the I.C.R.T. EZ News, I'm _____. －－－－以下訊息由 SoundOn 動態廣告贊助商提供－－－－ 華碩商用電腦ASUS Expert 台灣市佔第一！ 通過多項美國軍規測試，以優異產品品質、高擴充性及完整的軟硬體解決方案，助企業降低擁有成本、簡化管理。 客製化保固與在地服務，IT專家華碩商用小隊是各企業、政教單位的最強後盾。 商用AIPC首選「華碩」，值得信賴! https://bit.ly/3CpbcSI -- 高雄美術特區2-4房全新落成，《惟美術》輕軌C22站散步即到家，近鄰青海商圈，卡位明星學區，徜徉萬坪綠海。 住近美術館，擁抱優雅日常，盡現驕傲風範！美術東四路X青海路 07-553-3838

【図解】経常収支の推移財務省が１１日発表した２０２４年度上半期の国際収支速報によると、海外とのモノやサービスの取引、投資収益の状況を示す経常収支は１５兆８２４８億円の黒字だった。 Japan's current account surplus in April-September came to 15,824.8 billion yen, the highest ever on a half-year basis, Finance Ministry data showed Monday.

財務省、東京都千代田区財務省が８日発表した７～９月期の為替介入実績によると、政府・日銀は急速な円安進行を抑えるため、７月１１日に３兆１６７８億円、１２日に２兆３６７０億円の円買い・ドル売り介入を実施した。 Japanese authorities intervened into the foreign exchange market on July 11 and 12, spending 3,167.8 billion yen and 2,367 billion yen, respectively, to prop up the Japanese currency against the dollar, the Finance Ministry said Friday.

財務省は７日発表した１０月の経済情勢報告で、全国１１地域のうち関東、北陸、東海、四国、沖縄の５地域の景気判断を上方修正した。 Japan's Finance Ministry on Thursday upgraded its economic assessments for five of the country's 11 regions, noting that private consumption has remained firm despite inflation.

Finance Ministry has been identified as the most fiscally reckless public institution in Ghana for the period from 2021 to 2023, maintaining a similar ranking from 2015 to 2020. This conclusion comes from a report by IMANI Africa and Oxfam Ghana, which assessed financial irregularities among Ministries, Departments, and Agencies (MDAs) in their third edition of the Fiscal Recklessness Index.

Last time we spoke about the Formosa air battle. In mid-1944, General MacArthur and Admirals Nimitz and Halsey debated their next move in the Pacific. MacArthur, intent on a direct assault on the Philippines, clashed with Nimitz, who favored invading Formosa. MacArthur's persuasive tactics, political savvy and to be more blunt, threats during a rather dramatic visit to Honolulu, convinced President FDR to prioritize the Philippines. Despite MacArthur's grandstanding, FDR did not completely abandon the US Navy's plans, and MacArthur's plan would require significant Naval support, with carrier strikes planned to soften Japanese defenses. In October, Halsey's carriers launched devastating strikes against Formosa, leading to heavy Japanese losses and disrupting their air power. Despite some fierce counterattacks and damage to American ships, including the cruiser Canberra, the American forces achieved air supremacy. The successful air campaign set the stage for the invasion of Leyte, marking a pivotal shift in the Pacific War.  This episode is the Return to the Philippines Welcome to the Pacific War Podcast Week by Week, I am your dutiful host Craig Watson. But, before we start I want to also remind you this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Perhaps you want to learn more about world war two? Kings and Generals have an assortment of episodes on world war two and much more  so go give them a look over on Youtube. So please subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry for some more history related content, over on my channel, the Pacific War Channel you can find a few videos all the way from the Opium Wars of the 1800's until the end of the Pacific War in 1945.  We last left off the week before the grand  return to the Philippines, Admiral Halsey had dispatched his carrier forces to neutralize enemy bases in Formosa in preparation for General MacArthur's Leyte invasion. However, Admiral Toyoda's response was unexpectedly strong, resulting in two cruisers being torpedoed, which forced Admiral Mitscher to order a retreat eastward under pressure from Japanese aviators. On October 15, while the cruisers Houston and Canberra were being towed under the protection of Admiral McCain's carriers, Halsey directed Admirals Bogan and Sherman's task groups to withdraw eastward out of sight. At the same time, Admiral Davison's forces carried out intermittent air raids on northern Luzon to keep enemy aircraft at bay. More significantly, Halsey decided to turn the situation into an opportunity. He instructed McCain's units to send out open messages, pleading for assistance. This tactic, which Halsey called the "Lure of the Streamlined Bait," was designed to mislead the Japanese into believing that this task group was all that remained of the fleet, enticing them to move in for the kill. Halsey's other task groups, which had withdrawn eastward, would then return to engage and destroy the enemy. On October 14, Japanese aviators claimed two carriers, one battleship and one heavy cruiser sunk, and one small carrier, one battleship and one light cruiser set afire. The exaggerated claims of the Japanese air force were accepted jubilantly on the home islands. The people felt that the American Navy had indeed been given a death blow, and the Finance Ministry distributed "celebration sake" to all households in the country to commemorate the event. The Tokyo radio made the unfounded claim that "a total of 57 enemy warships including 19 aircraft carriers and four battleships were sunk or heavily damaged by the Japanese forces… the enemy task forces lost the majority of their strength and were put to rout." It also predicted that the Allied losses would delay the invasion of the Philippine Islands by two months. Admiral Halsey's reaction was to report that "all 3rd Fleet Ships reported by radio Tokyo as sunk have now been salvaged and are retiring towards the enemy." The exaggerated claims of success made by Japanese pilots further convinced Toyoda to continue the assault, despite heavy aircraft losses. Meanwhile, Admiral Shima's strike force was already rushing south from the Inland Sea to support the air forces. However, Shima's force was not the only one speeding towards the battlefront. On October 13, Admiral Barbey's convoy, consisting of over 470 ships and carrying the 24th Division and the 6th Army Service Command, finally departed Hollandia, heading toward the designated "Far Shore," Leyte. The next day, the convoy crossed the equator without ceremony. By October 15, Task Force 78, which included the 1st Cavalry Division, joined the massive convoy. With General Sibert's full 10th Corps now en route to Leyte, the plan was to rendezvous with Admiral Wilkinson's Task Force 79. Over the course of about two weeks, General Hodge's 24th Corps had been transported from Hawaii to Eniwetok and then to Manus Island. On October 11, the LSTs carrying the assault battalions departed Manus, followed by Wilkinson's convoy of 267 ships, which left the Admiralties three days later. Their progress was steady, and by October 17, Wilkinson's tractor groups began joining the 7th Fleet. This combined fleet formed the largest convoy ever seen in the Pacific up to that point. Meanwhile, during the Formosa Air Battle, Japanese aviators launched multiple strikes against Task Groups 38.1 and 38.4 from dawn to dusk on October 15. Fortunately, the American carriers' reinforced combat air patrols effectively minimized damage, with only one glancing bomb hit on the Franklin. In retaliation, Admiral Mitscher's pilots claimed to have shot down more than 100 Japanese planes. Additionally, Admiral Davison's carriers attacked enemy air concentrations in Luzon, though they faced heavy resistance from Vice-Admiral Teraoka Kinpei's reorganized 1st Air Fleet. These engagements continued over the next two days, with American forces estimated to have destroyed 99 enemy aircraft on the ground and 95 in the air by October 19. On the morning of October 16, Mitscher's carriers conducted long-range searches to determine if the enemy had fallen for Halsey's trap. Meanwhile, Japanese morning reconnaissance flights over the western Philippine Sea spotted three enemy task groups with a combined total of 13 carriers in the vicinity, forcing Toyoda to reluctantly cancel Shima's planned attack. As a result, no surface engagement materialized from Halsey's "Lure of the Streamlined Bait." However, 247 naval aircraft were promptly dispatched from Okinawa, Formosa, and Luzon to locate the enemy groups. McCain continued to fend off persistent Japanese air assaults, which managed to land another torpedo hit on the Houston. Hellcats from light carriers Cabot and Cowpens did great execution against a Japanese formation of over 100 aircraft. However, three Jills penetrated the screen. One twin engine plane fought through the CAP and ships' anti-aircraft batteries, surviving just long enough to put a torpedo in the water before the plane itself crashed into the sea. The torpedo struck the after portion of the starboard side of the Houston, blowing 20 men overboard and spreading gasoline fires in the waters around the cruiser. The explosion set fire to the starboard tank that held fuel for the ship's reconnaissance floatplanes, causing a major fire in the aircraft hangar, though the remaining crew suppressed the blaze within fifteen minutes. Flooding from this hit degraded the ship's buoyancy and stability further. Another 300 men were evacuated afterward, leaving just 200 aboard to continue damage control efforts as the ships withdrew. Despite the cruiser suffering significant damage, the towing operation carried on, slowly guiding the task group towards Naval Base Ulithi, which they eventually reached on October 27. On October 17, the Japanese were still in pursuit of the retreating fleet, but contact was lost, and further attacks were aborted. Nevertheless, the Formosa Air Battle had one final chapter. After the successful strike on Okayama on October 14, General LeMay deemed the damage extensive enough that it wasn't necessary to send all available B-29s for mop-up operations. On October 16, only the 444th and 462nd Bombardment Groups were dispatched to hit Okayama, while the 468th targeted Heito, an airbase and staging field east of Takao. Of 49 planes airborne against Okayama, only 28 bombed there, but they were aided by five stragglers from the 468th Group. To even things up, a formation of 11 planes from the 444th flew calmly by its Okayama target and struck at Heito through an error by the lead bombardier. Other B-29s bombed alternate or chance targets at Takao, Toshien, Swatow, and Sintien harbors; at Hengyang; and at several airdromes, including Taichu on Formosa. This dual mission was less smooth than the October 14 raid, but no losses were reported. The next day, 23 B-29s from the 40th Bombardment Group attacked the Einansho Air Depot near Tainan to complete the Formosa campaign. Heavy cloud cover prevented 13 of the bombers from reaching the target, so they diverted to bomb Takao harbor instead. Despite these challenges, LeMay's bombers inflicted significant damage overall. By the end of the Formosa Air Battle, the Japanese had launched a total of 761 offensive sorties. Toyoda's pilots reported that nearly the entire 3rd Fleet had been sunk and the American carrier force was in ruins. For comedic effect why not go through the real list shall we: Japanese claims were finally listed as follows: Sunk: 11 carriers, 2 battleships, 3 cruisers, 1 destroyer (or light cruiser). Damaged: 8 carriers, 2 battleships, 4 cruisers, 1 destroyer (or light cruiser), 13 unidentified ships. In addition, at least 12 other ships set afire. These exaggerated claims were heavily promoted by newspapers, although figures like Toyoda within the IJN remained skeptical. In reality, the Japanese air forces were decisively beaten at Formosa, losing around 171 planes in the initial defense and another 321 during attacks on Mitscher's fleet—a total of approximately 492 aircraft.  The Second Air Fleet, comprising the main strength of the Navy's base air forces, had lost 50 per cent of its strength and was reduced to 230 operational aircraft. The First Air Fleet and Fourth Air Army in the Philippines were left with a combined operational strength of only a little over 100 aircraft. Of 143 carrier planes used to reinforce the Second Air Fleet, about one-third, with their flight crews, had been lost. Allied estimates, however, place Japanese losses as high as 655. In addition to these aircraft losses, Japan suffered significant casualties among air personnel, which severely weakened Admiral Ozawa's 3rd and 4th Carrier Divisions and left General Yamashita with limited air support for the defense of the Philippines. On the other hand, Halsey's forces lost only 89 aircraft, with two cruisers suffering serious damage. The radar-guided Hellcats easily repelled the fragmented Japanese attacks, causing no delays to the American operations and inflicting no serious damage on Task Force 38. This defeat significantly diminished Japan's ability to defend the Philippines, as their surface forces were now left without effective air cover. In the aftermath of the battle, the aggressive Vice-Admiral Onishi Takishiro assumed command of the 1st Air Fleet and initiated the creation of a suicide corps, recruiting volunteers to dive-bomb enemy vessels. Thus, the Kamikaze Special Attack Corps was born. Captain Motoharu Okamura, in charge of Tateyama base and the 341st Air Group Home is theorized to be the first officer to propose the use of kamikaze attack tactics. Commander Asaichi Tamai asked a group of 23 student pilots whom he had trained to volunteer for the first special kamikaze attack force, all of them did so willingly. The names of the four subunits within the Kamikaze Special Attack Force were Unit Shikishima, Unit Yamato, Unit Asahi and Unit Yamazakura. LeMay reported the destruction of 65 buildings and damage to 9 out of the 80 at Okayama's assembly plant, along with the destruction of 7 hangars and 16 buildings and damage to 9 others at the airbase. As a result, LeMay's intelligence team estimated it would take between four and six months to fully restore the Okayama plant to full operational capacity. His final strike of the month occurred on October 25, targeting the Omura Aircraft Factory, with 78 B-29 bombers successfully taking off. Over Omura, 59 planes dropped 156 tons of bombs, while 11 hit various other targets. Despite moderate resistance, one bomber was lost during the attack. Strike photos and subsequent reconnaissance showed significant damage, especially in the aluminum fabrication area. Over the following three months, Omura would become a primary target for Operation Matterhorn, though the 20th Bomber Command also conducted additional strikes to support Allied operations in Southeast Asia, China, and the Philippines. Meanwhile, minesweepers and other vessels had cleared the way for amphibious flotillas. In the early dawn of October 17 the minesweepers began their work on the channel approaches to Suluan Island. By 06:30 they had accomplished their task and then began to sweep the waters of the landing areas in Leyte Gulf until the storm forced them to suspend operations. At 12:59 they resumed sweeping with great difficulty. Until A Day, intensive area and tactical mine sweeping continued. The sweepers started at dawn each day and worked continuously until nightfall. By October 19 it was known that the Japanese had heavily mined the approaches to Leyte Gulf but that there were no mines within the gulf itself. However the northern part of the main channel into the gulf was not considered safe. By the same date sweeping had been completed in the southern half, 186 mines having been destroyed. At about 01:35 on October 19, the destroyer supporting the mine-sweeping units which were in the gulf struck a floating mine and while maneuvering away from the area struck another. The ship was disabled and retired from action. By A Day, a total of 227 mines had been destroyed and a passage approximately six miles wide had been cleared just north of Dinagat Island. All ships were therefore directed to enter Leyte Gulf through that portion of the strait. As the minesweepers came close to the land, boats containing Filipinos moved out to welcome the advance party of liberators. The reception they met was not enthusiastic. Admiral Oldendorf "suspected that some might have come seeking information so detained them aboard their respective ships… Directed no further patriots be taken aboard ship."With Halsey's forces still in the Formosa-Ryukyus region, these ships were under the air cover of General Whitehead's 5th Air Force and Admiral Kinkaid's escort carriers. While minesweepers and demolition teams worked to clear mines, remove transport barriers, and perform beach reconnaissance, Company D of the 6th Ranger Battalion prepared to land on Suluan Island on October 17. Supported by fire from the USS Denver and in heavy rain, the Rangers successfully landed on the beach at 08:05 without opposition. The men immediately filed south 500 yards on a trail along the coast and then headed east toward the lighthouse. On the way, four buildings, one of which contained a Japanese radio, were found and set ablaze. The company then continued along the trail. Suddenly the enemy fired from a concealed position, killing one man and wounding another. When Company D went into attack formation, the enemy force disappeared into the heavy jungle bordering the trail. The march was resumed and the company reached its objective without further incident. The lighthouse, which had been damaged by naval bombardment, and adjoining buildings were deserted. Unfortunately, a Japanese radio station successfully reported the enemy convoy's approach and the start of the Rangers' landings, revealing that Leyte was the Americans' ultimate target. In response, Toyoda swiftly initiated Operation Sho-Go, ordering Vice-Admiral Kurita Takeo's 1st Striking Force to move from Lingga anchorage to Brunei Bay, preparing to strike the enemy invasion fleet.  Just after midnight on October 18, Kurita's ships departed Lingga anchorage and began their trek to Leyte. Sentai (Division) 16—heavy cruiser Aoba, light cruiser Kinu, and destroyer Uranami—was ordered to detach from Kurita's command and head to Manila. These ships were all among the oldest in Kurita's fleet, but it was a mistake to detach them for a secondary transport mission when they would have been better used to augment the decisive attack planned for Kurita's force. Simultaneously, Shima's 2nd Striking Force, reinforced by Kurita's detached 16th Cruiser Division, was tasked with supporting counterlandings. The Second Striking Force, for this newly-assigned mission, was to be composed only of the Fifth Fleet (two heavy cruisers, one light cruiser, seven destroyers) plus the 16th Cruiser Division (one heavy cruiser, one light cruiser, one destroyer) detached from the First Striking Force. Under this plan, the 16th Cruiser Division was ordered to proceed to Manila, while the Second Striking Force main body, then at Amami Oshima in the Ryukyus, was ordered to go first to Mako, refuel, and then proceed to the Philippines.   By noon, another order was issued to Ozawa's Main Body, despite its depleted air power, to coordinate a sortie from home waters in support of the attack planned for the morning of October 25 in Leyte Gulf. The mission of the Ozawa force was of vital importance to the success of the over-all plan. It was to act as a decoy to draw off the main strength of the enemy naval forces covering the invasion operations in Leyte Gulf, thus allowing the 1st Striking Force to penetrate to the landing point and smash the enemy's troop and supply ships. To heighten its effectiveness as a lure, the Ozawa Force sortied with all of the 3rd Carrier Division, made up of the regular carrier Zuikaku and the light carriers Zuiho, Chitose, and Chiyoda. The total number of aircraft available to put aboard these ships, however, was only 108. These belonged to the poorly trained air groups of the 1st Carrier Division and represented about half the normal complement. In addition to the half-empty carriers, the force comprised two battleships, three light cruisers and eight destroyers. Ozawa fully anticipated that his fleet would be completely wiped out, but this sacrifice was deemed essential to achieve the primary objective: destruction of the entire enemy invasion force. As a result of the transfer of the flying groups of the 3d and 4th Carrier Divisions to Second Air Fleet for the Formosa air battle, the Task Force Main Body had lost much of its planned striking power. The mission assigned to it was therefore less offensive than that assigned in the original Sho-Go battle plan. The original plan had called for a diversionary attack by the Ozawa Force against the enemy's main carrier task forces. Under the more general terms of the 18 October plan, however, Vice Adm. Ozawa was left discretion to choose an attack target more commensurate with the strength of his force. Meanwhile, Davison's carrier aircraft launched attacks on air bases around Manila and Legaspi, but neither the 1st Air Fleet nor the 4th Air Army could respond due to adverse weather. As these strikes were carried out in difficult conditions, General Terauchi concluded by nightfall that a significant enemy operation was underway. He then activated the Army component of Sho-Go, instructing Lieutenant-General Tominaga Kyoji to target enemy ships near Leyte. Should the enemy successfully land, General Suzuki's 35th Army was ordered to delay their advance until reinforcements arrived, with the goal of launching a counterattack to defeat the Americans by October 25. Given the recent actions on Suluan and the American naval presence in the Leyte Gulf, the Army and Navy IGHQ sections surprisingly coordinated their response, with the IJA staff approving the Southern Army's request to implement Sho-Go 1. It was determined that the coming decisive battle for Japan was the Philippines. One major difference was the battle's location. Terauchi, Yamashita, and other Southern Army officers believed it would be Luzon, not Leyte. With Sho-Go 1 focused on Leyte, the Japanese would have to fight in the central Philippines, without extensive defensive works or major airfields. Yamashita would also use his limited shipping to send reinforcements to Leyte. If the Japanese lost Leyte, there might not be sufficient strength to defeat decisively any American offensive on Luzon. Deploying the few IJA units to Leyte would make a Luzon defense harder to accomplish. Sho-Go 1 could hand the control of the Philippines to the Americans. Eventually, Terauchi agreed to the IGHQ position of making Leyte the primary location to fight the Americans. Believing that Halsey's fleet had been defeated off Formosa, Terauchi now thought the Americans could not sustain any major operations or contest reinforcement convoys, both poor assumptions that would later cause suffering for the IJA. Yamashita disagreed with Terauchi and the IGHQ about designating Leyte as the prime battle site; but on October 22, Terauchi finally ordered Yamashita and the Fourth Air Army to make Leyte the main point of attack. His opinion was: “The opportunity to annihilate the enemy is at hand.” However Yamashita was convinced that the Americans had greater strength than anticipated, given the continued American carrier aviation's presence. Meanwhile, by 12:30 on October 17, the Rangers had successfully landed on Dinagat Island, finding no Japanese forces there. On the morning of the 18th, the ship's address system clanged out general quarters. The men went below, put on their gear, and checked their weapons. At 0900 the troops were told to prepare to disembark. They bolted up the ladders and spilled out over the deck to the davits. The boats were lowered and the first wave started for the beach. At the same time the guns from the destroyer and frigate which had escorted the transport concentrated fire against the shore line for twelve minutes. Three minutes later, the boats grounded on a coral reef forty yards from the beach, and the men waded the remaining distance to shore. They encountered no resistance and at 1038 the company commander, Capt. Arthur D. Simons, notified the battalion commander, "Beachhead secured, supplies ashore. No resistance. No casualties." The company set up a channel light. They quickly set up a navigation light at Desolation Point to guide the main convoy. However, bad weather and tides delayed the landing on Homonhon Island. Colonel Mucci's Company B finally made it ashore the next morning without opposition and installed another navigation light. At the same time, Tominaga attempted to retaliate but was thwarted by a violent storm. In the afternoon, Kinkaid's forces, supported by Mitscher's carriers, conducted minesweeping and direct-fire missions on the Leyte beaches to protect the underwater demolition teams. Admiral Oldendorf's warships heavily bombarded the southern beaches, paving the way for transports to enter Leyte Gulf by the following evening. These pre-landing operations, which continued through October 19 on the northern landing beaches, alerted General Makino to a potential secondary landing closer to Tacloban. This maneuver would outflank the main strength of the 16th Division and directly threaten his headquarters. In response, Makino relocated his headquarters from Tacloban to Dagami and ordered the 33rd Regiment to reinforce the Palo-San Jose coastal sector, while the 2nd Battalion strengthened the southern defenses. Despite these last-minute efforts, Makino's forces were unprepared for the overwhelming assault. The heavy naval gunfire had destroyed many defensive positions and disabled most of the 22nd Field Artillery Regiment's guns. Furthermore, although the weather now favored Tominaga's counterstrikes, American carrier operations had been so effective that he was unable to challenge their air superiority. Despite the optimism of the High Command with regard to the prospects of gaining eventual air superiority in the battle area, it was already evident that the air phase of Sho-Go was not working out as intended. Those plans had envisaged mass air attacks against the invading enemy naval forces and troop convoys beginning prior to their arrival at the landing point. The enemy, however, had forestalled these plans by striking at Leyte before the planned concentration of Japanese air strength in the Philippines had been completed, and before the Navy's base air forces had time to recover from losses sustained in the Formosa Air Battle and earlier enemy carrier strikes on the Philippines. The 1st Air Fleet, already in the Philippines, had been reduced to an operational strength of less than 50 aircraft. The 2nd Air Fleet, which had lost half its strength in the Formosa Battle, had not yet begun its redeployment from Formosa to the Philippines. Although the 4th Air Army had sustained relatively lighter losses, its strength was widely dispersed. Before it could operate effectively in the Leyte area, it had to concentrate at forward bases in the central Philippines, an operation rendered both difficult and dangerous by enemy action, bad weather, and the virtually useless condition of many of the forward fields due to continuous rains. Under such unfavorable conditions, the concentration required a minimum of several days, and in the meanwhile the enemy was able to operate in Leyte Gulf against extremely light air opposition. On October 19, when weather conditions finally permitted an air attack against the enemy invasion fleet, no more than five naval and three Army aircraft could be mustered against the steadily increasing concentration of enemy shipping in Leyte Gulf. By the evening of October 19, the preliminary operations were nearly complete, with most of Kinkaid's fleet positioned outside the gulf. Since the minefield at the entrance hadn't been fully cleared, the ships entered slightly south of the entrance's center, avoiding the main channel and staying close to Dinagat's northern point. Meanwhile, Suzuki had already activated the Suzu Plan, with units from the 30th and 102nd Divisions preparing to move toward Ormoc. However, before they could depart, Oldendorf began October 20 with two simultaneous pre-landing bombardments, each involving three battleships. After two hours of battleship fire, cruisers and destroyers followed with high-explosive shells, causing significant damage. At the same time, Kinkaid's escort carriers launched bombing and strafing runs against suspected defensive positions and airfields, severely disrupting Makino's radio and telegraph communications. At 0800 the first anchor chains of the vessels had rattled out; LCVP's were quickly swung over the sides; boats circled mother ships and moved to their rendezvous areas. The LCI mortar and LCI rocket ships took their places at the head of the assault waves. It was now 0945, fifteen minutes before H Hour. The LCI's raced simultaneously to the shores of Leyte, raking the landing beaches with rocket and mortar fire. The bombardment grew heavier and more monotonous. Hundreds of small boats, flanked by rocket ships and destroyers, headed toward the beaches; thousands of rockets hit the beaches with the rumble of an earthquake. It was impossible to distinguish one explosion from another in the unbroken roar. By 09:30, the 21st Regiment successfully landed on Panaon Island without resistance, securing control of the entrance to Sogod Bay. Fifteen minutes later, the transports sped toward Leyte's shores, led by LCI gunboats, which pounded the beaches with rockets and mortar fire. At 10:00, Sibert's 10th Corps, covered by a heavy rocket barrage, landed on the White and Red Beaches, marking the Americans' return to the Philippines. Admiral Fechteler's transports delivered General Mudge's 1st Cavalry Division to White Beach, where the brigades landed side by side, with the 8th Cavalry Regiment held in floating reserve. Facing only small arms and machine gun fire, the 1st Squadron of the 7th Cavalry Regiment swiftly secured the Cataisan Peninsula and its airfield, while the 2nd Squadron captured San Jose and advanced across the Burayan River, reaching a point 3000 yards from the beach. The 5th and 12th Cavalry Regiments had to navigate a deep swamp to access Highway 1, then pushed westward until they encountered enemy resistance near the foothills of Caibaan. At 10:40, Mudge's reserve began to land, followed by the division artillery at 13:30. Meanwhile, to the south, Barbey's transports landed General Irving's 24th Division on the shallow Red Beach, with the 19th and 34th Regiments landing abreast in battalion columns. The Japanese permitted the first five waves to land, but when the remaining waves were about 2000 yards offshore, they unleashed heavy artillery and mortar fire, sinking several landing craft and causing significant casualties.  The first elements of the 3d Battalion, 34th Infantry, inadvertently landed 300 yards north of the assigned area and were immediately pinned down by heavy machine gun and rifle fire. The commanding officer of the regiment, Col. Aubrey S. Newman, arrived on the beach and, noting the situation, shouted to his men, "Get the hell off the beach. Get up and get moving. Follow me." Thus urgently prompted, the men followed him into the wooded area. To the south the 19th Infantry, with the 3d Battalion in the lead, had also struck heavy opposition on its sector of the beach. Through error the first waves of the regiment landed almost directly behind the 34th Infantry and 800 yards north of the proposed landing point. The later waves landed at the planned spot. Company K did not land on schedule, because its command boat broke down. Going in under heavy fire, the company had all its officers except one killed or wounded. One of its platoons was unable to make contact with the rest of the company until the following day. Upon landing, the first waves were immediately pinned down by intense machine-gun and rifle fire. Despite this, the Americans successfully stormed the initial defenses of the 33rd Regiment. By 12:15, the 34th Regiment had cleared the beach of enemy forces, and after a preparatory concentration, its 3rd Battalion advanced approximately 400 yards. The 2nd Battalion then moved through the 3rd, crossed Highway 1 at 15:50, and established positions for the night 100 yards west of the highway. To the south, the 3rd Battalion, 19th Regiment had reached Highway 1, while the battered 1st Battalion followed behind under heavy fire. Meanwhile, the 2nd Battalion landed and advanced cautiously, as the 1st Battalion pressed toward Hill 522 amidst fierce resistance. Hill 522, which rose directly from the river's edge north of Palo, overlooked the landing beaches and its upward trails were steep and winding. Hill 522 presented the most significant terrain feature which would have to be overcome before the American forces could push into the interior from Palo and it constituted one of the chief objectives for A Day. Three months earlier General Makino had started to fortify it, impressing nearly all of the male population of Palo for the work. By A Day they had constructed five well-camouflaged pillboxes of rocks, planking, and logs, covered with earth. Numerous tunnels honeycombed the hill; the communications trenches were seven feet deep. They eventually encircled enemy positions and began to make steady progress up the hill. By dusk, Companies B and C had captured the hill's crests and successfully repelled several enemy counterattacks. This achievement secured Hill 522, which commanded the route into the interior and overlooked Palo, the gateway to Leyte Valley. At 14:30, General Douglas MacArthur landed on Red Beach alongside President Sergio Osmeña, who had taken over from Manuel Quezon following his death on August 1. So if you go on Youtube you can see the footage of MacArthur et al wading ashore and to this day there is a monument to this iconic moment. MacArthur made a radio broadcast to the Filipino people, declaring, “People of the Philippines: I have returned. By the grace of Almighty God our forces stand again on Philippine soil—soil consecrated in the blood of our two peoples. We have come dedicated and committed to the task of destroying every vestige of enemy control over your daily lives, and of restoring upon a foundation of indestructible strength, the liberties of your people” He had finally fulfilled his promise to the Filipino people. Further south, Hodge's 24th Corps encountered more resistance as it landed on Orange, Blue, Violet, and Yellow Beaches at 10:00. Under the transport of Rear-Admiral Forrest Royal's ships and the protection of LCI gunboats, General Bradley's 96th Division landed with its regiments positioned between the Calbasag River and the town of San Jose. The 382nd Regiment successfully disembarked on the Blue Beaches at 09:50, followed by the 383rd Regiment on the Orange Beaches ten minutes later.As they advanced inland, both units faced intermittent mortar and artillery fire from the 9th Regiment positioned on Catmon Hill. Colonel Macey Dill's 3rd Battalion initially encountered obstacles such as tank barriers made of coconut logs, debris on the beach, and heavy bombardment from Hill 120. However, with mortar and naval gunfire support, the battalion eventually captured the hill and repelled several enemy counterattacks, though they were unable to continue the advance due to deep swamps. In contrast, Dill's 2nd Battalion managed to push about 2,500 yards inland despite the intense heat and swampy conditions. To the north, Colonel Edwin May's 1st and 2nd Battalions were similarly hindered by an unexpected swamp but still succeeded in securing San Jose and the head of the Labiranan River, advancing approximately 2,600 yards inland. By 18:00, Bradley's artillery had been landed, although the 381st Regiment remained in floating reserve. Further south, Admiral Conolly's transports landed General Arnold's 7th Division between the Calbasag and Daguitan Rivers, with regiments landing side by side. Companies L and K of the 3rd Battalion, 32nd Regiment landed abreast. Company L, on the left, ran into heavy fire from Japanese machine gunners who had waited until the leading elements of the company exposed themselves. The Japanese were entrenched in bunkers emplaced in hedgerows and banana groves. The pillboxes, which were mutually supporting, were located at the ends of the hedgerows and occasionally in the middle of an open field. Each pillbox had machine guns and anti-tank guns. Company L suffered a number of casualties and was pinned down. The enemy gunners then turned to Company K and stopped its forward movement. In the space of 15 minutes, 2 officers and 6 men of the 3rd Battalion were killed, and 1 officer and 18 men wounded. Of the medium tanks that had come ashore at 10:30, 3 were sent to support Company L and 2 to support Company K. The latter 2 were knocked out before they could adjust their fire on the pillboxes. The leading tank sent in support of Company L was knocked out by a direct hit from an antitank gun. With 2 tanks remaining, it was decided to hit the flanks of the entrenched pillboxes at 13:45. A platoon of Company K went to the right and another platoon from the company to the left. Simultaneously the remaining elements of the 2 companies, coordinating with the tanks, assaulted the pillboxes. The heavy volume of fire kept the enemy guns quiet until they could be finished off with grenades. The pillboxes were knocked out without further casualties. Paralleling the route of advance of Company L were several hedge fences, behind which were enemy machine guns and mortars. Although under heavy fire, the company was able to break through the first barriers with the aid of the tanks. At 16:30, since the enemy fire continued in volume, the 32nd Regiment withdrew and established a defensive position for the night. Meanwhile, the 184th Regiment landed its 3rd Battalion at Yellow Beach 2, directly in front of Dulag, and its 1st Battalion at Yellow Beach 1, which was farther south and separated by a swamp. Both beaches saw surprisingly little resistance, allowing the 184th to advance more quickly than expected, successfully capturing Dulag and reaching its airfield.Behind them, the reserve 2nd Battalion and the 3rd Battalion of the 17th Regiment landed after midday. The 3rd Battalion pushed west and south with minimal opposition, successfully securing the bridge over the Daguitan River at Dao. By the end of the day, both corps had fallen short of their beachhead objectives, with Hodge's 24th Corps achieving particularly modest results. Despite this, the Sixth Army had successfully landed assault forces along the entire eastern coast of Leyte and gained control of Panaon Strait, with casualties totaling 49 killed, 192 wounded, and 6 missing. Most of the 16th Division had retreated during the naval and air bombardment before the landing, which allowed the Americans to secure most coastal defenses before the enemy could regroup. Consequently, the only Japanese forces encountered were those left behind to delay the invasion. A more substantial enemy engagement was yet to come. Air opposition to the invasion was minimal, as Tominaga and the naval air forces continued to concentrate their strength in the Philippines in preparation for a major air offensive scheduled to begin on October 25. However, 37 Army and Navy planes attacked the invasion shipping off Leyte. At 1600, on 20 October an enemy torpedo plane was sighted as it aimed its torpedo at Honolulu. Despite the skillful maneuvering of Captain Thurber to evade, the torpedo found its mark on her port side. 64 men were killed and 35 were injured. Flooding caused a temporary severe list, but the ship was saved by efficient damage measures. But Honolulu was out of the fight. Honolulu sailed out the next day, arriving at Manus on 29 October for temporary repairs, and then steamed for Norfolk, Virginia, on 19 November, arriving on 20 December via Pearl Harbor, San Diego, California, and the Panama Canal. Unfortunately, not all went well with logistics. Although 107,450 tons of supplies had been landed on Leyte by the end of A-Day, it was a haphazard operation. The Navy was responsible for transporting the troops and supplies to the target area. Ships' companies unloaded the cargo from the cargo vessels and transported it in small craft to the beaches. Many of the ships had been improperly loaded for the journey to Leyte. The cargo should have been so loaded that articles first needed would be the last put on board; instead it had been stowed haphazardly, with little attention given to the problem of unloading. As a result of the faulty stowage of supplies on the ships, many badly needed items were at the bottoms of the holds, and articles that would not be needed until later in the operation were piled on top of them. The supplies were set ashore in random fashion and then were carelessly thrown on trucks and other vehicles. This sort of handling resulted in a loss of carrying capacity, in slow removal of the loads, and in a consequent delay in the return of vehicles to the landing beaches. Thus, officers complained about the disorganized effort to deliver, store, and distribute supplies. This was a precursor of future resupply problems. As the landings proceeded about as smoothly as could be hoped, Halsey would order Task Groups 38.1 and 38.4 to head to Ulithi on October 22, as he doubted that the Japanese would mount a major operation in response to the American invasion. And yet, the Japanese were about to come calling for another decisive battle.  I would like to take this time to remind you all that this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Please go subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry after that, give my personal channel a look over at The Pacific War Channel at Youtube, it would mean a lot to me. General Douglas MacArthur had finally done it, he had returned to the Philippines making good on his promise to the Filipino people. It was a colossal effort and thus far it was going very well all things considered. However little did the Americans know, but the IJN was about to toss the kitchen sink at them, literally, in an all or nothing battle to the death.

The US market is finally showing signs of broadening, with the S&P 500 and Dow Jones Industrial Average powered to new highs after US banks kicked off the 3Q earnings seasons on a record! What does this suggest about the health of the US economy and the possibility of a soft landing? Find out with Dan Koh and Ryan Huang as they tackle the latest market headlines. They also discuss the highlights of China's latest Finance Ministry Briefing and analyze how this might impact China's mega rally. See omnystudio.com/listener for privacy information.

APAC stocks traded mixed and initially took impetus from the positive performance on Wall St where the major indices were led higher amid a tech rally.China's Finance Ministry is to hold a press briefing on fiscal policy and economic development on October 12th at 10:00 local time (03:00BST/22:00EDT), while it will introduce details of intensifying fiscal policy adjustmentRBNZ cut the OCR by 50bps to 4.75% and the RBI kept the Repurchase Rate unchanged at 6.50%, both as expected.US President Biden and Israeli PM Netanyahu will speak on Wednesday; Israeli senior official said they are going to respond to the Iranian attack but will not do it in a way that will start an all-out war with Iran.European equity futures are indicative of an uneventful cash open with the Euro Stoxx 50 future flat after the cash market closed lower by 0.4% on Tuesday.Looking ahead, highlights include German Trade Balance, US Wholesale Sales, FOMC & NBH Minutes, Speakers including ECB's Elderson, Fed's Bostic, Logan, Goolsbee, Jefferson, Barkin, Collins & Daly, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Welcome to The Times of Israel's Daily Briefing, your 20-minute audio update on what's happening in Israel, the Middle East and the Jewish world. Military reporter Emanuel Fabian and Tech Israel editor Sharon Wrobel join host Amanda Borschel-Dan on today's episode. The Israel Defense Forces is increasingly convinced that Muhammad Deif, the commander of Hamas's military wing, was killed in an airstrike in the southern Gaza Strip on Saturday. We hear what additional information has been released about the strike. Over the past day, more than 25 targets were struck by Israeli fighter jets and other aircraft in the Gaza Strip, the IDF says. Fabian notes an uptick in strikes on schools as Hamas is increasing leaving the tunnels and embedding itself with civilians. Where does this leave the Hamas hostages? Around 100 Hezbollah rockets targeted several different areas of northern Israel in four separate waves on Tuesday night and early Wednesday morning, as the Israel Defense Forces responded with strikes on Hezbollah sites in southern Lebanon. We hear that while this barrage isn't unprecedented in number,  the impetus behind the rocket fire is less clear than in previous large volleys. Yesterday, the IDFs announced it will begin to send out initial draft orders to members of the Haredi community on Sunday. What is the expected procedure and how long will it take to see more ultra-Orthodox soldiers in uniform? The Finance Ministry has warned that enlisting working ultra-Orthodox men into the army will damage efforts to integrate this group of the population into the labor market. Wrobel explains what else we are hearing out of the Finance Ministry. Many aspects of Israel's cost of living have just been going up during this war. We focus on housing prices. According to a Wall Street Journal report, Google is nearing a record-breaking deal to purchase Israeli-founded cybersecurity startup Wiz for $23 billion. How sure are we this deal will go through and what does it mean for Israel? For news updates, please check out The Times of Israel's ongoing live blog. Discussed articles include: IDF increasingly certain Deif died in strike, says Hamas fighters in ‘survival mode' 100 rockets target northern Israel as IDF strikes in Lebanon said to kill 5 Syrians IDF says it will begin drafting ultra-Orthodox from Sunday; protesters block road Finance Ministry warns enlisting Haredim to IDF will damage efforts to integrate them into workforce Inflation edges higher, bolstered by uptick in housing prices Google said nearing record-breaking $23 billion buy of Israeli-founded cyber startup Could Google's $23b bid for Israel-founded cyber unicorn boost local tech outlook? Subscribe to The Times of Israel Daily Briefing on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. This episode was produced by the Pod-Waves.  IMAGE: Israel Defense Forces operate in Gaza, July 17, 2024, in this handout image. (Israel Defense Forces)See omnystudio.com/listener for privacy information.

Another new low for JPY as the Japanese government is shuffling up its top Finance Ministry people. Everyone continues to blame the Fed for the yen's crash but the evidence conclusively shows that's not it. This only raises the question, what is it? The yen's own track record holds the answer and it is one that applies to you.Eurodollar University's Money & Macro AnalysisReuters Japan names new FX diplomat as yen hits 38-year lowhttps://www.reuters.com/markets/asia/japan-appoints-atsushi-mimura-top-fx-diplomat-replacing-masato-kanda-2024-06-28/Reuters Japan warns against rapid FX moves, reiterates readiness for actionhttps://www.reuters.com/markets/currencies/japan-warns-against-rapid-fx-moves-reiterates-readiness-action-2024-06-24/Bloomberg Yen Falls Through 161 Per Dollar, Putting Intervention in Focushttps://www.bloomberg.com/news/articles/2024-06-28/yen-falls-through-161-per-dollar-as-intervention-wagers-increaseBarrons The Fed's Higher for Longer Policy Is Breaking the Yenhttps://www.barrons.com/articles/fed-yen-b66308afhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 The Next "Bull Story?"3:42 Drought is Over5:57 Soybean Export Problem8:05 Flash to Unknown9:11 Rate Cuts Have Begun

Welcome to The Times of Israel's Daily Briefing, your 20-minute audio update on what's happening in Israel, the Middle East and the Jewish world. It is day 194 of the war with Hamas. Military correspondent Emanuel Fabian and environmental reporter Sue Surkes join host Jessica Steinberg for today's episode. Fabian discusses the latest in Gaza, as Israeli tanks pushed back into parts of the northern Gaza Strip on Tuesday, with two brigades joining ongoing missions in Gaza while other troops are situated outside Gaza, on the border, preparing themselves to enter for the expected large-scale strike on Rafah. He also talks about the latest in the north, as two Hezbollah commanders were killed in IDF strikes following attack drones that injured three Israelis in the Beit Hillel community in the north and no sense of when 60,000 evacuated Israelis can return home. Fabian also speaks about ongoing clashes in the West Bank, where violence has broken out between Israeli settlers and Palestinians following the Friday killing of 14-year-old shepherd Benjamin Achimeir, near Ramallah. There are considerable troops located in the West Bank, says Fabian, but it is complicated to contain three fronts simultaneously. Surkes turns to the passage of the first reading of the climate bill, long-discussed but narrow in terms of planned targets, and largely controlled by budgetary expectations from the Finance Ministry. She also discusses the long-awaited shipment of livestock from Australia, turned around in the fall because of maritime attacks by the Houthis, then relaunched again in March, and noted for the crowded conditions of the lambs and cows. Surkes then describes several building developments in Jerusalem, the planned Burj Jerusalem near Yad Vashem and Har Herzl, along with a long-debated expansion of a city police station on the city's Lupine Hill, both fiercely opposed by several community groups. For the latest updates, please see The Times of Israel's ongoing live blog. Discussed articles include: Live blog April 17, 2024 Commando seriously hurt as Israeli tanks said to push back into northern Gaza 2 Hezbollah commanders killed in IDF strikes as attack drones injure 3 in north Two Palestinians shot dead by settlers in clashes near West Bank village Knesset passes 1st reading of climate bill without any clear budgeting Controversial shipment of livestock reaches Israel from Australia after months-long odyssey Planned ‘Jerusalem Burj' skyscraper draws opposition over proximity to landmarks Police revive plan to build complex on beloved Jerusalem hill, angering residents THOSE WE HAVE LOST: Civilians and soldiers killed in Hamas's onslaught on Israel THOSE WE ARE MISSING: The hostages and victims whose fate is still unknown IMAGE: Members of the emergency squad of Safed take part in a drill on April 5, 2024. (Photo by David Cohen/Flash90)See omnystudio.com/listener for privacy information.