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The National
19 minutes ago
- The National
Crypto funds intended for Hamas seized by US
Some $2 million in cryptocurrency assets intended for Hamas has been seized by the US government, according to recently unsealed court forfeiture documents from the US Department of Justice. According to court filings, the digital currency was held in Tether and Binance accounts connected through BuyCash, a 'Gaza-based money transfer business' allegedly involved in helping to finance Hamas. 'Terrorist organisations like Hamas and their affiliates rely on shadowy financial networks to fund their deadly operations,' US Attorney General Pamela Bondi said. 'By seizing millions in cryptocurrency, the Justice Department is aggressively dismantling the financial infrastructure of terrorism and refusing to allow our digital currency platforms to become safe havens for terrorist financing.' The court filings allege that a man named Ahmed M M Alaqad, a partial owner of the BuyCash operation, is also suspected of supporting ISIS and Al Qaeda, among other groups. Unsealed court documents accuse him of 'materially supporting Hamas' after the group's attack on Israel in October 2023. According to the DoJ, the specific method of transferring funds via digital assets likely resulted in Hamas previously receiving as much as $4 million. 'These types of money transfers are a classic money laundering technique, as they intend to disguise the nature, location, ownership, and control of the funds being transferred,' read the unsealed court filings. Despite growing enthusiasm for crypto, scepticism still abounds. Unlike fiat currencies, crypto mostly lacks an overall regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions. In May, a man in the US was sentenced to more than 30 years in prison after a court found him guilty of converting $185,000 to cryptocurrency and transferring it to ISIS. In March, an investigation originating from the FBI's field office in New Mexico has led to the seizure of $201,400 in cryptocurrency assets that was intended to finance Hamas.
Khaleej Times
an hour ago
- Khaleej Times
Trump agrees to small reduction in Philippine tariffs after trade talks
US President Donald Trump agreed Tuesday to reduce threatened tariffs on the Philippines, but only by one percentage point, after what he termed a successful meeting with his counterpart Ferdinand Marcos. Welcoming Marcos to the White House, Trump called him a "very tough negotiator" and said: "We're very close to finishing a trade deal — a big trade deal, actually." In a social media post shortly afterward, Trump said that while the Philippines would open up completely to US goods, he would still impose a 19 per cent tariff on products from the Southeast Asian country, a major exporter of high-tech items and apparel. "It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs," Trump wrote on his Truth Social platform. The Philippines was among two dozen economies confronted by Trump with letters this month warning of 20 per cent tariffs on all goods coming into the United States as of August 1. The 19 per cent rate is still above the 17 per cent threatened by Trump in April, when he threatened sweeping global tariffs. The trade rift comes despite increasingly close defence relations between the United States and the Philippines, a former US colony and treaty-bound ally that has seen high tensions with China. The United States last year, under Trump's predecessor Joe Biden, deployed ground-launched missiles in the Philippines. Washington has also eyed ammunition manufacturing in the Philippines, despite the closure in 1992 of the US naval base at Subic Bay due to heavy public pressure. "All of what we consider part of the modernization of the Philippine military is really a response to the circumstances that surround the situation in the South China Sea," Marcos said next to Trump. Trump devoted much of the appearance to attacks on his Democratic predecessors Biden and Barack Obama. "We are essentially concerned with the defense of our territory and the exercise of our sovereign rights," said Marcos. "Our strongest, closest, most reliable ally has always been the United States."
Zawya
3 hours ago
- Zawya
Egypt: Executives of Japan Food Solutions S.A.E. paid a courtesy call on the Ambassador
On 16 July 2025, Mr. Emad Said, Senior Managing Director of Japan Food Solutions (J.F.S.) S.A.E., paid a courtesy call on H.E. Mr. Thanawat Sirikul, Ambassador of Thailand to Egypt, at the Royal Thai Embassy. Mr. Emad reported on his visit to Thailand to attend the annual Thaifex 2025 to meet with Thai entrepreneurs with whom the Embassy had matched the company. In addition, both parties discussed opportunities and potential for business cooperation between Thai and Egyptian entrepreneurs in the future, especially in the areas of food security and supply chain. Both sides agreed that products that Thailand has the potential to increase exports to Egypt include seasoned poultry and halal products, as well as investment in the hospitality, wellness and spa businesses. Meanwhile, products that Egypt is increasingly interested in exporting to Thailand include strawberries, broccoli, dried fruits and concentrate fruit juices. In addition, J.F.S. is interested in exchanging knowledge on Thai edamame cultivation techniques. Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.
