Showing posts with label India politics. Show all posts
Showing posts with label India politics. Show all posts

Saturday, April 20, 2024

It Seems Like Things Are Actually Cooling Down Between Israel and Iran

 It Seems Like Things Are Actually Cooling Down Between Israel and Iran


A man walks past a banner depicting missiles along a street in Tehran, Iran, on Friday. AFP/Getty Images


A rare bit of calming news from the Middle East: It seems that neither Israel nor Iran wants to widen the war.

The odds of a direct conflict between the region’s two most powerful countries seemed high for much of this month. On April 1, Israel attacked Iran’s consulate in Syria, killing seven senior officers of the Islamic Revolutionary Guard Corps. On April 13, Iran retaliated by launching a massive, multipronged attack—more than 300 missiles and drones, including 110 ballistic missiles—against Israel. Almost all the incoming weapons were shot down (a remarkable feat by U.S., Israeli, British, French, and Jordanian air defenses), no one was killed, and very little damage was sustained, and at just one air base. Still, the attack, which could have been deadly, marked the first time Iran had ever attacked Israeli territory. Israel felt the need to do something in response.

In the wee hours on Friday, three drones flew over an air base in the Isfahan district of southern Iran, not very far from a critical nuclear facility. Iran says they were all shot down. Maybe so, maybe not. The key facts are these: Israel has not acknowledged launching the drones—nor has Iran accused Israel of doing so. In fact, one senior Iranian official blamed the deed on “infiltrators” who fired the drones from inside Iran.

The point is, the widespread fears of mutual escalation—one airstrike sparking another, which sparks another, then another, on and on, for reasons of revenge, pride, a compulsion to “restore deterrence,” or whatever—have proved baseless, at least for now.

After the Saturday night air raid, an Iranian official warned Israel not to retaliate. Even a small Israeli attack, he said, would trigger a much more massive counterstrike from Tehran. President Biden urged Israeli Prime Minister Benjamin Netanyahu to heed the warning. Most Israelis felt they had to do something to deter future Iranian attacks. They wound up doing about as little as a powerfully armed country can do while still doing something—and Iran pretended that Israel didn’t launch the attack anyway, thus evading their pledge to respond to any such attack massively.


In sum, Iran proved that it can mount a massive attack on Israel, while Israel proved that its weapons have the range to strike targets inside Iran. That seemed to be enough for both sides. The equilibrium has thus been restored, at least for now.

As of midday Friday, the Israeli government seemed content to go along with the game, declining to comment on the drone strike. An exception was Itamar Ben-Gvir, the ultra-right-wing national security minister, who had pushed for a much more forceful response. “Lame!” he tweeted Friday morning in reference to the three-drone airstrike—thus acknowledging that Israel had launched the attack and that some senior officials wanted to do more. Netanyahu usually endorses Ben-Gvir’s radically hawkish statements, or at least doesn’t dispute them. But this time, Channel 12, Israel’s leading TV news station, reported that officials in the prime minister’s inner circle are very upset with the tweet, saying that it damaged Israel’s national security and slamming Ben-Gvir generally as “childish” and “irrelevant to any discussion.”

Meanwhile, the aftereffects of Iran’s attack last weekend continue to benefit Israel. On Wednesday, 48 countries signed a statement condemning Iran for its attack on Israel. The palpable sign of Israel’s continued vulnerability is also likely to boost approval of President Biden’s emergency military-aid package, which the House will take up on Saturday. Before the attack, many of those countries would have been reluctant to endorse any expression of support for Israel—and Biden’s aid package was losing support—as a result of Israel’s “over-the-top” military tactics (as even Biden called them) in Gaza.


The prospect of a major war between Iran and Israel distracted the world’s focus from the fighting and suffering in Gaza, but probably not for long. U.S. and Israeli officials remain locked in disagreement over how to rout the last battalion of Hamas terrorists from the town of Rafah on Gaza’s southern tip, where more than 1 million civilians—most of them refugees from the northern towns—are crowded, many of them starving. Netanyahu and the other members of his war Cabinet want to mount a major offensive against Rafah. Biden and his aides urge them not to take that step unless they come up with a way to avoid killing tens of thousands of the civilians. The Israelis have not come up with any such way. Nor have the Americans thought up a way to rout Hamas’ last battalion without an armed offensive.

This is why U.S., Egyptian, and Qatari diplomats continue to hammer out a plan for a cease-fire, combined with an exchange of Israeli hostages held by Hamas for Palestinian prisoners held by Israel. Hamas has rejected several proposals, most of them endorsed by Israel. Its one counteroffer—a cease-fire that delays the release of any hostages until all Israeli troops have withdrawn from Gaza—is unacceptable to Israel.

Thursday, April 18, 2024

U.S. Mortgage Rates Jump Above 7% for the First Time This Year

 U.S. Mortgage Rates Jump Above 7% for the First Time This Year


Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent mark on Thursday, a troublesome sign for an already tight housing market.



Mortgage rates rose above 7 percent for the first time this year, crossing a symbolically concerning threshold that threatens to keep millions of potential home buyers and sellers on the sidelines of a U.S. housing market that is increasingly showing signs of slowing.

The average rate on 30-year mortgages, the most popular home loan in the United States, rose to 7.1 percent this week, Freddie Mac reported on Thursday, the highest since November. Mortgage rates reached a recent high of nearly 8 percent late last year — a level not seen since 2000.

As mortgage rates have risen in recent months, making homeownership costlier for buyers, potential sellers who may feel locked into lower rates on their existing loans have been keeping their houses off the market, in effect pushing prices higher, too. Combined, the forces have fed into a broader feeling of frustration about the economy, at a time when inflation has remained hotter than expected.

“Potential home buyers are deciding whether to buy before rates rise even more, or hold off in hopes of decreases later in the year,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “It remains unclear how many home buyers can withstand increasing rates in the future.”

ADVERTISEMENT

SKIP ADVERTISEMENT

At the same time, the market has slowed. Sales of existing homes fell by 4.3 percent in March and 3.7 percent from a year earlier, according to the National Association of Realtors.

In April 2021, mortgage rates were at about 3 percent, less than half the current rate. They began to climb that year and continued to rise in 2022 when the Federal Reserve started raising its benchmark rate in an effort to combat inflation. Although inflation has since cooled significantly, it’s still above the central bank’s 2 percent target.

The Fed has signaled in recent months that it may keep the cost of borrowing higher for longer amid stubborn inflation. The Fed’s benchmark interest rate is currently the highest it’s been in 22 years.

Mortgage lenders generally watch the 10-year Treasury bond, which is tied to mortgage rates, and expectations that the Fed will keep rates high has pushed up Treasury yields. The 10-year Treasury yield has soared since the start of the year, now sitting at about 4.6 percent.

The N.A.R. agreed to settle litigation last month that would eliminate the standard sales commission, a move housing experts say could bring down home prices. Sellers currently pay a 5 or 6 percent commission to a real estate agent, a cost that’s typically passed onto the buyer through a higher sticker price.

J. Edward Moreno is a business reporter at The Times. More about J. Edward Moreno

Monday, April 15, 2024

Trump Media Stock Plunges, Extending Recent Losses

 Trump Media Stock Plunges, Extending Recent Losses


Funds that bet on a fall were set to profit as the parent of Truth Social came under renewed pressure after it registered new shares for a potential sale.


Since former President Donald J. Trump’s company, Trump Media & Technology, began trading, its shares have fallen by about 60 percent.Credit...Michelle Gustafson for The New York Times




Shares of former President Donald J. Trump’s social media company plunged on Monday after the company filed to register the potential sale of tens of millions of additional shares.

Trump Media & Technology’s stock fell 18.3 percent, erasing hundreds of millions of dollars from the company’s market value — and putting a dent in Mr. Trump’s majority stake. Since a surge in its first days of trading as Trump Media, which lifted the value of the company to about $8 billion at one point last month, the company’s shares have dropped by around 60 percent.

Trump Media was expected to register the potential sale of new shares after the completion of its merger last month with Digital World Acquisition Corp., a cash-rich shell company known as a SPAC. Companies that merge with SPACs, or special purpose acquisition companies, typically file a registration statement a few weeks after the deal is completed for the sale of additional securities held by early investors.


Matthew Goldstein covers Wall Street and white-collar crime and housing issues. More about Matthew Goldstein

Joe Rennison writes about financial markets, a beat that ranges from chronicling the vagaries of the stock market to explaining the often-inscrutable trading decisions of Wall Street insiders. More about Joe Rennison



Sunday, March 24, 2024

Lok Sabha Election: BJP names 111 more candidates; Kangana Ranaut, Sita Soren among bold choices in 5th candidate list

 Lok Sabha Election: BJP names 111 more candidates; Kangana Ranaut, Sita Soren among bold choices in 5th candidate list


Lok Sabha election 2024: BJP announces 111 new candidates for Lok Sabha elections, including actors Kangana Ranaut and Arun Govil. Varun Gandhi was omitted from the list. Several sitting MPs denied tickets. Notable nominations include Sita Soren, Naveen Jindal, and Varaprasad Rao.

Lok Sabha Election 2024: A worker sorts Bharatiya Janata Party (BJP) flags at a BJP election office in Chennai on March 16, 2024, during preparations ahead of the Election Commission India (ECI) schedule announcement India's upcoming general election

The Bharatiya Janata Party (BJP) on Sunday released an additional 111 candidates for the Lok Sabha elections..

According to the list, union ministers Ashwini Kumar Choubey and V K Singh, along with MP Varun Gandhi, were omitted from the list. Instead, the party nominated actors Kangana Ranaut and Arun Govil.

Union Minister Dharmendra Pradhan will vie for the Sambalpur seat, while the party's spokesperson, Sambit Patra, will make another attempt from Puri after narrowly missing out in 2019.

However, the BJP has decided not to field former Union minister Anantkumar Hegde, who has served six terms as a Lok Sabha member from Uttara Kannada, in the upcoming elections. Known for his staunch Hindutva stance, Hegde has frequently sparked controversies with his statements, including a recent remark advocating for a significant BJP mandate to amend the Constitution.

In the latest list of candidates, the BJP has refrained from granting tickets to approximately 37 sitting Members of Parliament, with nine being from Uttar Pradesh, five from Gujarat, four from Odisha, and three each from Bihar, Karnataka, and Jharkhand.


The tally of incumbent MPs not receiving tickets does not encompass individuals who have recently won assembly elections, such as Diya Kumari and Rajyavardhan Singh Rathore in Rajasthan, or those like Nayab Singh Saini, who assumed office as Haryana chief minister, and Brijendra Singh, who has already resigned from the party.

Several leaders who switched from other parties to join the BJP have been nominated, including industrialist Naveen Jindal and Varaprasad Rao, who were formally inducted mere hours before the candidate list was unveiled. Additionally, figures like Sita Soren, Tapas Roy, and N Kiran Kumar Reddy have also been rewarded with tickets.

Also Read: BJP 5th candidate list 2024: Will Varun Gandhi contest as independent after BJP drops him from Pilibhit?


Kerala BJP president K Surendra has been selected as the candidate for the Wayanad constituency, where incumbent MP and former Congress president Rahul Gandhi is also contesting.

In West Bengal's Basirhat constituency, the BJP has nominated Rekha Patra, reportedly one of the victims of the Sadeshkhali incident, as part of its strategy to challenge the ruling Trinamool Congress in the state.

For the 17 seats it is contesting in Bihar, the BJP has announced its candidates, including the re-nomination of Union minister Giriraj Singh from Begusarai and former Union minister Ravi Shankar Prasad from Patna Sahib.


Union ministers R K Singh and Nityanand Rai have been nominated to contest from their respective current seats. Additionally, in Uttar Pradesh, the ruling party has announced the names of 13 more candidates.

Varun Gandhi, a three-term Lok Sabha MP known for expressing views critical of his party's governments at the Centre and in the state, has been denied a ticket from Pilibhit. However, his mother, Maneka Gandhi, has been renominated from Sultanpur.

Also Read: BJP 5th candidate list: Netizens cheer 'Sherni' Kangana Ranaut's candidature, say 'where are Thackerays, Sanjay Raut'

Jitin Prasada, a minister in the state government, has been chosen as the party's candidate from Pilibhit, while Atul Garg will replace two-term MP V K Singh in Ghaziabad. Singh announced his decision to opt out of the polls in a post on X hours before the party released the list.

The latest list includes three leaders who joined the BJP on Sunday: Naveen Jindal from Kurukshetra, Haryana government minister Ranjit Chautala from Hisar (both in Haryana), and Varaprasad Rao from Tirupati in Andhra Pradesh.

With the addition of these 111 candidates, the ruling party has now named a total of 398 nominees for the elections to the 543-member Lok Sabha, excluding the four candidates who withdrew their names following controversies.

Actress Kangana Ranaut, a vocal supporter of the BJP, will be contesting from Mandi in her home state of Himachal Pradesh. Meanwhile, veteran actor Arun Govil, renowned for his portrayal of Lord Ram in the popular TV serial "Ramayan", has been chosen over seasoned parliamentarian Rajendra Agrawal for the Meerut constituency by the ruling party.

Also Read: BJP 5th candidate list 2024: Ex-Calcutta HC judge Abhijit Gangopadhyay gets Lok Sabha poll ticket from Bengal's Tamluk

Sita Soren, who is the sister-in-law of former Jharkhand chief minister Hemant Soren, has been nominated as the BJP's candidate from Dumka. She recently resigned from the Jharkhand Mukti Morcha.

Former Karnataka chief minister Jagadish Shettar, who had briefly joined the Congress last year before returning to the BJP, will now contest from Belgaum.

In West Bengal, the BJP has announced 19 more candidates, including former Calcutta High Court judge Abhijit Gangopadhyay for Tamluk constituency.

Dilip Ghosh, the sitting MP from Medinipur, has been moved to Bardhaman–Durgapur constituency, while the incumbent S S Ahluwalia has been dropped.

The BJP has announced the names of seven candidates from Rajasthan, four each from Haryana, Karnataka, and Kerala, and 18 from Odisha, along with three each from Maharashtra and Jharkhand, among candidates from various states.

In Andhra Pradesh, D Purandeswari, the state president of the BJP, will be contesting from Rajahmundry, while former chief minister N Kiran Kumar Reddy will be contesting from Rajampet. The party has finalized its candidates for all six Lok Sabha seats in the state, where it is contesting in alliance with the TDP and the Jana Sena.

BJP vice president Baijayant Panda will be contesting from Kendrapara, a constituency he has previously represented in the Lok Sabha twice as a BJD member.

(With inputs from PTI)

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Kerala BJP president K Surendra has been selected as the candidate for the Wayanad constituency, where incumbent MP and former Congress president Rahul Gandhi is also contesting.

In West Bengal's Basirhat constituency, the BJP has nominated Rekha Patra, reportedly one of the victims of the Sadeshkhali incident, as part of its strategy to challenge the ruling Trinamool Congress in the state.

For the 17 seats it is contesting in Bihar, the BJP has announced its candidates, including the re-nomination of Union minister Giriraj Singh from Begusarai and former Union minister Ravi Shankar Prasad from Patna Sahib.


Union ministers R K Singh and Nityanand Rai have been nominated to contest from their respective current seats. Additionally, in Uttar Pradesh, the ruling party has announced the names of 13 more candidates.

Varun Gandhi, a three-term Lok Sabha MP known for expressing views critical of his party's governments at the Centre and in the state, has been denied a ticket from Pilibhit. However, his mother, Maneka Gandhi, has been renominated from Sultanpur.


Jitin Prasada, a minister in the state government, has been chosen as the party's candidate from Pilibhit, while Atul Garg will replace two-term MP V K Singh in Ghaziabad. Singh announced his decision to opt out of the polls in a post on X hours before the party released the list.

The latest list includes three leaders who joined the BJP on Sunday: Naveen Jindal from Kurukshetra, Haryana government minister Ranjit Chautala from Hisar (both in Haryana), and Varaprasad Rao from Tirupati in Andhra Pradesh.

With the addition of these 111 candidates, the ruling party has now named a total of 398 nominees for the elections to the 543-member Lok Sabha, excluding the four candidates who withdrew their names following controversies.

Actress Kangana Ranaut, a vocal supporter of the BJP, will be contesting from Mandi in her home state of Himachal Pradesh. Meanwhile, veteran actor Arun Govil, renowned for his portrayal of Lord Ram in the popular TV serial "Ramayan", has been chosen over seasoned parliamentarian Rajendra Agrawal for the Meerut constituency by the ruling party.

Also Read: BJP 5th candidate list 2024: Ex-Calcutta HC judge Abhijit Gangopadhyay gets Lok Sabha poll ticket from Bengal's Tamluk

Sita Soren, who is the sister-in-law of former Jharkhand chief minister Hemant Soren, has been nominated as the BJP's candidate from Dumka. She recently resigned from the Jharkhand Mukti Morcha.

Former Karnataka chief minister Jagadish Shettar, who had briefly joined the Congress last year before returning to the BJP, will now contest from Belgaum.

In West Bengal, the BJP has announced 19 more candidates, including former Calcutta High Court judge Abhijit Gangopadhyay for Tamluk constituency.

Dilip Ghosh, the sitting MP from Medinipur, has been moved to Bardhaman–Durgapur constituency, while the incumbent S S Ahluwalia has been dropped.

The BJP has announced the names of seven candidates from Rajasthan, four each from Haryana, Karnataka, and Kerala, and 18 from Odisha, along with three each from Maharashtra and Jharkhand, among candidates from various states.

In Andhra Pradesh, D Purandeswari, the state president of the BJP, will be contesting from Rajahmundry, while former chief minister N Kiran Kumar Reddy will be contesting from Rajampet. The party has finalized its candidates for all six Lok Sabha seats in the state, where it is contesting in alliance with the TDP and the Jana Sena.

BJP vice president Baijayant Panda will be contesting from Kendrapara, a constituency he has previously represented in the Lok Sabha twice as a BJD member.

(