Qatar has decided to withdraw as a mediator for a Gaza ceasefire and hostage release deal due to a lack of good faith negotiations between Hamas and Israel, despite months of efforts involving Cairo and Washington. The diplomatic source revealed that Qatar has notified both sides and the US administration of their decision, stating that they are willing to re-engage when sincere willingness to negotiate is demonstrated. The conflict continues to escalate, with ongoing air strikes in Gaza causing civilian casualties and a looming famine crisis in northern Gaza, while the broader conflict has spilled over into Lebanon with Hezbollah involvement.
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Turkey’s Central Bank lowers interest rates for the first time in nearly 2 years
In Ankara, Turkey's Central Bank lowered interest rates by 250 basis points to 47.5%, aiming to ease monetary tightening policies and combat inflation. This decision follows a period of aggressive rate hikes since June 2023, with annual inflation beginning to decline. The rate cut coincided with a 30% increase in the country's minimum wage, falling short of demands by workers unions and remaining just above the hunger threshold. Full Article
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