July 27, 2024

Daily News Brief

*) Gaza experiencing world's worst food crisis: UN report Gaza, where 80% of the population is internally displaced, faces the world's worst food crisis, according to a new UN report. The "2024 Food Security and Nutrition in the World" report by the FAO, WFP, IFAD, UNICEF, and WHO highlights severe food insecurity in Gaza due to the Israeli siege. This crisis is more severe than in South Sudan, Yemen, Syria, and nearly as severe as in Haiti. *) UK ends challenge to ICC's jurisdiction over arrest warrant on Netanyahu Britain's new government announced it is dropping its predecessor's objection to the ICC's jurisdiction to issue an arrest warrant for Israeli Prime Minister Benjamin Netanyahu. The new government, led by Prime Minister Keir Starmer of the Labour Party, stated that this decision aligns with their position that the matter should be left to the court to decide, emphasising their commitment to the rule of law and the separation of powers. *) Türkiye to channel $30B into high-tech investments: President Erdogan President Recep Tayyip Erdogan has announced that Türkiye will direct 30 billion dollars in tax incentives and grant support to high technology investments. Speaking at the High Technology Incentive Program introduction ceremony in Istanbul, Erdogan said Türkiye aims to become a regional hub in battery production. The country will offer a 4.5 billion dollars incentive package to investors. Türkiye is also launching a $5 billion dollars incentive package to boost its automotive sector production capacity to at least one million units per year. *) G20 commits to effective taxation of the ultra-wealthy The G20 said that the group agreed on working to make sure super-rich individuals around the world are effectively taxed. The group said it is important for all taxpayers, including ultra-high-net-worth individuals, to contribute their fair share in taxes. Despite the consensus on taxing the super-rich, mechanisms of achieving the goal remain vague. *) Historic river parade ignites PARIS 2024 opening spectacle A historic boat parade on the River Seine launched the Paris 2024 Olympics, celebrating togetherness and unity. Despite heavy rain, 300,000 people lined the riverbanks to cheer competitors passing iconic sights like the Eiffel Tower, Louvre, and Notre Dame. This display marked the first time the opening ceremony was held outside the main stadium, making it the largest launch in Olympic history.