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September 14, 2024

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Sufyan Jaber Abed Jawwad, who worked as a sanitation worker in El Far’a Camp in the West Bank, “was shot and killed on the roof of his home by a sniper during an overnight Israeli military operation in the early morning of September 12,” the United Nations Agency for Palestinian Refugees (UNRWA) said in a statement.

But the Israeli military has accused Jawwad and the others killed of being “terrorists.”

Lt. Col. Nadav Shoshani, spokesperson for the Israel Defense Forces (IDF), confirmed Friday that Jawwad was killed in an operation in the West Bank’s Far’a area and alleged that he was “hurling explosive devices that posed a threat to the forces operating in the area.”

“IDF troops opened fire toward him to remove said threat, and he was killed,” Shoshani said. He added that Jawwad was “known to Israeli security forces and he had been complicit in additional terrorist activities.”

The IDF said in an earlier statement on Friday that its troops had located and dismantled “a vehicle rigged with explosives, explosives laboratories, operational communications rooms, and weapons” during the operation that killed Jawwad.

Jawwad – the first UNRWA staffer to be killed in the West Bank in more than 10 years – is survived by his wife and five children, according to UNRWA.

In Gaza, at least 220 staff have been killed since October 7, UNRWA chief Philippe Lazzarini said in a post on X on Wednesday.

Jordan’s Ministry of Foreign Affairs condemned Jawwad’s killing in a statement on Friday, calling it “a heinous crime.”

The IDF has voiced distrust of some UNRWA staffers before. In January, it accused several UNRWA members in Gaza of direct involvement in the Hamas-led October 7 terror attack on Israel. A UN investigation in August found that nine UNRWA employees “may have” been involved in the October 7 attack and no longer work at the agency.

The other people killed in the Israeli operation over the past 48 hours were killed in the areas of Tulkarem, Nur Shams and Tubas, according to the IDF.

Al-Quds Brigades, the military wing of Islamic Jihad, said the five killed in Tubas were members of the Tubas Battalion in the West Bank who were “preparing ambushes and explosive devices against” Israeli forces.

Operations in the West Bank

The death comes amid increasing Israeli military action in the West Bank.

Recent Israeli operations have had a heavy impact on humanitarian resources in the area, leaving the refugee camps of El Far’a, Tulkarem, Nur Shams and Jenin “especially affected” and destroying basic infrastructure including water and electricity, UNWRA said.

The agency said it had been forced to suspend its services to refugees in the area because of the “unacceptable risk” posed to both staffers and aid recipients by Israeli and Palestinian groups, including the danger posed by “improvised explosive devices by Palestinian armed actors.”

Earlier this week, US Secretary of State Antony Blinken called for “fundamental changes” to the way Israeli forces operate in the occupied West Bank after the killing of American activist Aysenur Ezgi Eygi at a protest last week.

The sharply worded rebuke came after the IDF said on Tuesday that it was “highly likely” that Eygi was “hit indirectly and unintentionally by IDF fire.”

Nearly 700 Palestinians have been killed in the West Bank since October, according to the Palestinian Ministry of Health in Ramallah and the UN. The figures do not distinguish between militants and civilians.

This post appeared first on cnn.com

Rainbow flags rippled in the wind as gay and lesbian couples walked hand in hand down a makeshift aisle in Bangkok’s busy Siam shopping district.

Thailand’s Senate had just passed a marriage equality bill, and the local LGBTQ+ community was in the mood to celebrate.

While the ceremonies were symbolic enactments of same-sex weddings, the real thing could be just around the corner.

“Now I can freely say that I am gay,” said Pokpong, who can’t wait to marry his partner Watit Benjamonkolchai.

The law, passed in June, still requires the thumbs-up from the king, but that is expected soon, clearing the way for Thailand to become the first jurisdiction in Southeast Asia to legalize same-sex marriage, and Asia’s third after Taiwan in 2019 and Nepal last year.

But the recent flurry of progress for marriage equality in Asia could stop there, with no other government in the region looking likely to follow suit anytime soon.

The winning formula

More than 30 jurisdictions worldwide now recognize same-sex marriage, according to the Pew Research Center. Since the first same-sex marriage law was passed in the Netherlands in 2001, progress has been made mostly in Europe, the Americas and Australasia.

Just across Thailand’s borders, homosexuality is illegal in Myanmar and Malaysia. Bans also exist in Sri Lanka, Brunei, Bangladesh and Indonesia’s ultraconservative province of Aceh. Maximum penalties range from lengthy jail terms to caning, according to the Human Dignity Trust, a United Kingdom-based body that supports strategic litigation worldwide against laws prejudicing the LGBTQ+ community.

“Despite some historic wins in the region… the human rights of LGBTI people across Asia continue to be denied,” said Nadia Rahman, policy advisor at Amnesty International’s Global Gender, Racial Justice, Refugees and Migrants Rights Programme. She added that people from these communities face “criminalization, threats of arrest, discrimination, digital surveillance, harassment, online abuse, stigma and violence.”

While liberalization in Thailand, Nepal and Taiwan was propelled by those places’ unique cultures and socio-political circumstances, scholars and activists said, most other Asian governments are held back by conservative social attitudes, influential religious groups and the lack of robust democratic systems.

Campaigners and academics in Asia say Nepal has long had a liberal judiciary willing to side with the LGBTQ+ community, while its deeply embedded culture of third-gender “hijras” laid the groundwork for liberal changes. In Thailand and Taiwan, many attribute progress to a combination of democratic development and a robust civil society.

Assistant professor Kangwan Fongkaew, who researches LGBTQ+ issues at Burapha University, said despite political instability in recent decades, Thailand’s political system was functional enough to channel popular demands into legislation.

“The majority of people in Thailand want marriage equality,” Kangwan said. “And now it’s time for Thailand to have that,” he added, calling it “the victory of the people.”

Unlike in mainland China – where LGBTQ+ activism is taboo and can draw backlash from authorities – the movement has thrived in Taiwan. Campaigner Jennifer Lu, director of gay rights advocacy Outright International in Taiwan, noted the importance of the island’s functional democratic system in the process of liberalization.

“This kind of democratic practice really creates the foundation of this progressive vibe,” Lu said.

Acceptance of non-traditional gender identities has grown stronger since. In May, Taiwan’s then President Tsai Ing-wen invited homegrown drag queen Nymphia Wind to perform at the Presidential Office to celebrate her win on hit TV talent show “RuPaul’s Drag Race.”

Asia’s next best bets

While other Asian jurisdictions have the potential to be the fourth to allow LGBTQ+ couples to marry, according to experts, they are not convinced changes will come anytime soon.

India is also a democracy, and – like neighboring Nepal – has laws protecting transgender people, so is a legitimate contender. But campaigners there say authorities are lukewarm on the need for change.

Activist Anish Gawande, who co-founded Pink List India, a group tracking politicians’ stance on LGBTQ+ issues, said understanding for sexual minorities is growing in the world’s most populous nation. He has recently been appointed the first openly gay national spokesman of a political party. But he said the government refuses to do more than it needs to please the international community.

LGBTQ+ activists petitioned India’s highest court for the right to marry, only to be told it should be decided by the government.

The government, run by India’s third term Prime Minister Narendra Modi, has set up a committee to look into the issue, but without any notable outcome, Gawande said, adding that with neither New Delhi nor the courts taking the lead on the issue there was “a stalemate for LGBTQ+ rights in the country.”

Japan – the only G7 country that does not recognize same-sex relationships – has seen piecemeal victories for LGBTQ+ rights through multiple court cases and at the prefecture level.

In early July, Hiroshima’s high court approved a trans woman’s request to alter her birth gender status without undergoing gender-affirming surgery. And some local governments, including Tokyo, have issued certificates to honor de facto same-sex relationships for administrative purposes, such as housing subsidies.

But on the national level, Japan does not recognize same-sex marriage and local courts have returned conflicting verdicts on the issue.

Polls suggest popular backing. Up to 68% of Japan’s adults support same-sex marriage, the highest share in Asia, according to the Pew Research Center. But in a country where the government takes pride in traditional values, change can be slow.

And in neighboring South Korea, traditionally conservative views on sexuality persist.

Scuffles broke out last year in the city of Daegu as local officials led by the mayor clashed with police during a protest against an LGBTQ festival. Organizers of the flagship Seoul Queer Culture Festival also lost their venue last year to a Christian youth concert.

There have been some progressive successes, however. The country’s Supreme Court ruled last month that same-sex partners should be entitled to spousal benefits from national health insurance.

Professor Andrew Kim, from Korea University’s College of International Studies, said religious groups are influential in the country. “The missionaries who came to Korea from the US … they are largely conservative protestant missionaries,” he said.

Uncertainties in the region

One argument for legalizing same-sex marriage is the economic advantages of doing so, especially if neighboring economies aren’t.

Multinational companies need to move their staff around – including those who aren’t heterosexual – and have been lobbying for changes in financial hubs such as Singapore and Hong Kong, which would both like to attract and retain major company HQs.

“If you’re a country that welcomes these high-tech companies with very liberal policies, yet the rest of the society is repressive, like Singapore for example, where same-sex partners cannot get visas, the governments will have to think about how it manages these things,” said Shawna Tang, senior gender studies lecturer at the University of Sydney.

But even in the face of such pressure, neither Hong Kong’s nor Singapore’s government seems particularly keen to liberalize.

Singapore’s parliament decriminalized sex between men in 2022, but amended the constitution to effectively block court challenges that could lead to same-sex marriage.

In Hong Kong, the Court of Final Appeal ordered the city’s government last September to create a legal framework to recognize the rights of same-sex couples. But months have lapsed, and the government has not yet responded.

The court also stopped short of granting same-sex marriage, meaning this could be as far as the efforts get. And with Beijing tightening its grip on the city in recent years, activists said, the political space needed to facilitate change is shrinking.

Professor Peter Newman, from the University of Toronto’s Factor-Inwentash Faculty of Social Work, said while things are improving in Asia, progress has been “extremely uneven.”

“In at least six Asian countries, same-sex intimacy and relationships remain criminalized, as well as the gender expression of transgender people, with punishments on the books from eight years and ’100 lashes’ in Indonesia and Malaysia, to life imprisonment in Bangladesh,” he said.

Even in places where same-sex marriage has been legalized, widespread challenges persist from school to workplace bullying to stigma in health care services, he said.

But Suen, from the Chinese University of Hong Kong, said across Asia, public discussions have bloomed, and that Thailand’s move to legalize same-sex marriage was an encouraging sign.

“The outlook is positive, but it’s going to take a while,” Suen said.

This post appeared first on cnn.com

Germany has struck a controlled migration deal with Kenya, which will see Berlin open its doors to skilled and semi-skilled Kenyan workers.

The deal was signed by German Chancellor Olaf Scholz and Kenya’s president William Ruto on Friday. Ruto landed in Germany on Friday for an official two-day visit.

While the exact number of workers that will arrive in Germany has not been disclosed, a spokesperson for Kenya’s presidential office previously said it was looking at employment opportunities for up to 250,000 Kenyans.

Migration is a major flashpoint in Germany, and has fueled the rise of the far-right Alternative for Germany (AfD) party. Germany welcomed more than one million people during the migrant crisis of 2015-2016 and more recently took in large numbers of Ukrainians fleeing Russia’s invasion.

The agreement comes as Scholz’s government launches a crackdown on illegal immigration, recently announcing a tightening of border controls. Late last month, Berlin unveiled new security measures aimed at speeding up the deportation of rejected asylum seekers and undocumented immigrants which will begin next week.

As well as deterring irregular migration, the deal is intended to address labor market needs in both countries, providing opportunities for Kenyan workers while supplementing an ageing Gemany’s shortage of skilled laborers. It also intends to simplify the repatriation of Kenyans who are in Germany illegally.

The two countries agreed to step up their cooperation on repatriation, with the introduction of measures such as the use of biometric data to identify those who are required to leave Germany.

Expired passports and identity cards will now also be accepted as travel documents to facilitate repatriation.

According to the German government, there are currently around 14,800 Kenyan citizens living in Germany. Around 800 of them are required to leave the country.

Interior Minister Nancy Faeser said she was “very pleased” with the outcome.

“We want to consistently enforce the repatriation of people without a right to remain – this is an important building block for limiting irregular migration. We have made good agreements for this,” she said.

“On the other hand, we want to attract qualified workers, who we urgently need in many areas of our economy.”

The German Interior Ministry adds that it is in confidential talks with several other countries regarding migration agreements.

The new security package came in the wake of a fatal attack in the western city of Solingen, in which three people were stabbed to death on August 23.

The suspect was identified as a 26-year-old Syrian man with alleged links to ISIS, who had previously been due for deportation.

This post appeared first on cnn.com

S&P 500 and Nasdaq close to erasing last week’s losses

  • This week is quite bullish after watching the S&P 500 pull back last week
  • This morning, a strong bullish consolidation is pushing the Nasdaq to a weekly high of 19467.1

S&P 500 chart analysis

This week is quite bullish after watching the S&P 500 pull back last week. On Wednesday, we had a short-term pullback to the 5400.0 level. Soon after, we got support down there and initiated a recovery above the EMA 200 and 5500.0. We did not stop there but continued on the bullish side. During this morning’s Asian trading session, the index held above 5590.0. The S&P 500 continued to rise to 5610.0, forming a new weekly high there.

All indicators suggest that the index could continue its bullish growth. Potential higher targets are 5625.0 and 5650.0 levels. The index could drop below the daily open price of 5590.0 if momentum weakens. With that step, it moves to the negative side, where it will be under greater bearish pressure. Potential lower targets are 5575.0 and 5550.0 levels. The EMA 200 moving average is waiting for us in the 5550.0 zone.

 

Nasdaq chart analysis

This morning, a strong bullish consolidation is pushing the Nasdaq to a weekly high of 19467.1. From Monday to today, the index rose over 6.0%. On Wednesday, it received support from the EMA 50 and EMA 200 moving averages, which only reinforced the bullish scenario. During the Asian trading session, the Nasdaq moved in the 19400.0-19460.0 range. There were no changes in the EU session either, and only in the US session do we expect greater index volatility.

We need momentum above this level to climb to a new weekly high. Potential higher targets are 19500.0 and 19600.0 levels. If, by any chance, we see a drop below the daily open price, it would signal the beginning of a bearish consolidation. After that, the bearish momentum grows, and the Nasdaq index retreats further. Potential lower targets are 19300.0 and 19200.0 levels.

 

The post S&P 500 and Nasdaq close to erasing last week’s losses appeared first on FinanceBrokerage.

Leveraging ChatGPT for enhanced trading strategies

Recently stock trading has been going through a major change in technology. The industry had been dominated by human brokers and personal relationships on stock exchange trading floors. Now the advent of high-speed internet, advanced computing, and artificial intelligence (AI) has revolutionised this industry. 

ChatGPT’s Role in Trading – Market Analysis:

For example, ChatGPT, an AI language model developed by OpenAI, has emerged as a major player. Its ability to process vast amounts of data has made it a valuable tool for traders seeking to gain an advantage. 

One of ChatGPT’s relevant applications in stock trading is market analysis. Clever large language models (LLMs), powered by advanced machine learning (ML) algorithms and trained on an enormous number of parameters, can analyse and learn from the vast amounts of data they are fed, for example, from news articles and social media posts. They are then able to generate original sentiment analysis, as it’s known, which can help to gauge the mood of the market, whether it’s bullish or bearish.

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Furthermore, ChatGPT assists in trend forecasting by identifying patterns and correlations within historical data. By analyzing these data sets, it can help predict potential market movements. For instance, if the AI identifies a recurring pattern that preceded a stock’s rise in the past, then the traders might be able to use this information to make a profitable trade in the present.

ChatGPT’s Role in Trading – Decision-Making:

Having the correct analysis leads us to the all-important area of decision-making. These days financial markets operate at a rapid pace, and traders must respond swiftly to changing conditions. If they cannot do this, they might miss opportunities. However, current algorithms can process real-time data feeds and analyse them instantaneously, providing real-time insights. 

As a follow-on from these insights, the algorithms then generate trade recommendations, even down to the level of suggesting optimal entry and exit points for trades. This information is valuable for traders who must manage and trade multiple positions simultaneously. 

Automated Trading:

At this stage, the human broker would have stepped in to make those trades indicated by AI. But this human intervention would slow the process down to the speed at which a human can act, again possibly missing an opportunity. Therefore, companies are using automation for trading as well, and this involves complex algorithms which operate at lightning-fast speeds.

In this way, they can exploit any market inefficiencies or arbitrage opportunities, the latter being the possibility to instantaneously buy something for a low price and sell it for a higher price. This price difference will be short-lived, and very small, but if such trading is done at volume, then the total gains can be substantial. Also, automated trading systems are very useful as they operate around the clock, ensuring that opportunities are not missed, even when human traders are unavailable.

Risk Management:

But can companies completely trust AI to carry out all these trades on their behalf? The answer is that they can, but as there will always be risk in the markets, they will need to take steps to control and mitigate this. This is called risk management. As technology continues to reshape the landscape of stock trading, risk management and regulatory compliance are important considerations for all market participants. 

Risk management is carried out by a Risk Assessor. This is someone who evaluates the risk profile of an organization’s IT systems, determines the potential impact of security breaches, and works with management to reduce risks to an acceptable level. To this end, automated risk management systems employ real-time monitoring tools and circuit breakers to mitigate the impact of sudden market fluctuations and prevent catastrophic losses.

Case Study:

As for how ChatGPT has performed in the market, a research report using rigorous research methodology has been released by the finance department at the University of Florida, and it showed a trading algorithm which delivered 500% returns in the stock market. The researchers basically found that ChatGPT outperformed all existing solutions on the market, and it benefited from sentiment analysis, a strategy already mentioned above, and which is a part of several automated trading strategies by well-known hedge funds like DE Shaw and Two Sigma. 

Future Outlook:

We have entered a brave new world of computers using algorithms to trade our stocks and our money. For now, fortunes have been and are being made. But one wonders how AI would have handled the challenges of the 2008 stock market crash. And as Robert Harris showed in his novel the Fear Index, there can be unforeseen consequences when an algorithm takes over and even those in charge are unable to control what happens. 

Conclusion:

The algorithms available these days through AI enable better market analysis and should lead to better decision-making. In conjunction with automated trading, the modern trader can look forward to an era of increased productivity and uncovering previously hidden Alpha. This is progress, but it must come with solid risk management. In the words of AllianceBernstein, “When strategically deployed, AI can help active equity investors make better investment decisions. However, we believe that AI is a tool that must be used in conjunction with human expertise and judgment.”

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Understanding Forex Trading: A Comprehensive Overview

Introduction to Forex Trading

Foreign exchange, commonly known as forex or FX, refers to the global decentralised market where currencies are traded. With a daily trading volume exceeding $6 trillion, it is the largest and most liquid financial market in the world. Forex trading involves the simultaneous buying of one currency and selling of another, speculating on the relative value of the two currencies.

Why Forex Trading?

Forex trading has gained significant popularity in recent years due to its accessibility, potential for high returns, and the ability to trade 24 hours a day, 5 days a week. Participants in the forex market include individuals, businesses, and financial institutions, creating a dynamic and complex ecosystem.

Market Structure and Operations

One of the key features of the forex market is its lack of a central exchange or clearinghouse.

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Instead, forex transactions are conducted over-the-counter (OTC) between buyers and sellers, facilitated by a global network of banks, brokers, and other financial institutions. This decentralized structure allows for greater flexibility and responsiveness to market conditions.

Mechanics of Forex Trading

Forex trading involves the exchange of one currency for another, with the goal of profiting from fluctuations in their relative values. Traders speculate on the future direction of currency pairs, such as the Euro/US Dollar (EUR/USD) or the British Pound/Japanese Yen (GBP/JPY), and open positions accordingly.

The market operates on a floating exchange rate system, where currency values are determined by supply and demand in the global market. Factors such as economic indicators, political events, and central bank policies can all influence the relative strength of a currency, leading to price movements that traders can capitalize on.

Trading Platforms and Market Access

Forex traders use various trading platforms, often provided by brokers, to execute their trades. These platforms offer real-time market data, charting tools, and order execution capabilities, allowing traders to monitor the markets and make informed decisions.

Global Market Hours

The forex market is open 24 hours a day, 5 days a week, with trading activity concentrated in major financial hubs around the world, including London, New York, Tokyo, and Sydney. This continuous trading activity provides traders with ample opportunities to enter and exit positions based on their strategies and market conditions.

Currency Pairs and Trading Instruments

The forex market offers a wide range of currency pairs and trading instruments for traders to explore. The most actively traded currency pairs, known as the “major” pairs, typically involve the US Dollar, Euro, Japanese Yen, British Pound, and Swiss Franc.

In addition to the major pairs, the forex market includes “minor” and “exotic” currency pairs. Minor pairs involve less frequently traded currencies, while exotic pairs combine a major currency with an emerging market currency, such as the USD paired with the South African Rand or the Euro paired with the Turkish Lira.

Traders can also engage in cross-currency trading, which involves the exchange of two non-US Dollar currencies, such as the Euro/British Pound (EUR/GBP) or the Australian Dollar/New Zealand Dollar (AUD/NZD). Understanding the unique characteristics and dynamics of different currency pairs is crucial for forex traders to identify potential opportunities and manage risks effectively.

The Role of Central Banks

Central banks play a pivotal role in the forex market as they set monetary policies and manage the value of their national currencies. Central bank actions, such as interest rate decisions, currency interventions, and quantitative easing programs, can significantly impact the relative strength and volatility of currencies.

Traders closely monitor central bank announcements and policy changes, as these events can trigger substantial price movements in the forex market. For instance, an interest rate hike by a central bank may lead to an appreciation of the domestic currency, attracting investors seeking higher returns.

Differences from Other Markets

Forex trading differs significantly from the trading of stocks or commodities. Despite its accessibility, 24/5 schedule, and high liquidity, forex trading is a challenging yet rewarding career path, particularly for individuals with a financial background. The flexibility of being self-employed and the ability to trade from a laptop or mobile device appeal to both new graduates and experienced professionals.

Advantages of Forex Trading

Despite the risks and high volatility, forex trading offers several benefits:

  • Low Transaction Costs: Most brokers profit from currency spreads rather than charging commissions.
  • Round-the-Clock Trading: The forex market’s 24/5 schedule suits short-term traders who prefer taking positions over brief periods.
  • High Liquidity: This allows for efficient and quick execution of large orders without significant price deviations, reducing the likelihood of price manipulation and anomalies.

Conclusion

Forex trading is not a get-rich-quick scheme; however, with a solid understanding of the market, a robust trading plan, and an acceptance of the risks involved, forex trading can be a profitable and fulfilling career. With dedication and strategic planning, traders can navigate the complexities of the forex market and achieve long-term success.

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