
Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland
Trump, who on Sunday announced a major trade deal with the European Union, said he expected Starmer would also be pleased. 'I like your prime minister,' Trump told reporters, according to The Guardian newspaper. 'He's a little bit more liberal than I am, as you've probably heard, but he's a good guy.'
While Starmer had hoped to negotiate a reduction in US tariffs on steel and aluminium, Trump has ruled out any changes to the 50% tariffs on EU imports, saying the trade deal with Britain was 'already done.'
The worsening crisis in war-torn Gaza is expected to cast a shadow over the meeting. Starmer's office said the prime minister would discuss 'what can be done urgently to secure a ceasefire in the Middle East.'
Starmer is under growing pressure at home and abroad to recognise a Palestinian state. A government source said on Sunday he has recalled cabinet ministers from their summer holiday for a meeting, likely to discuss the Gaza situation.
The British prime minister said on Friday his country would only recognise a Palestinian state as part of a negotiated peace deal, a stance that disappointed many in his Labour Party who want him to follow France's lead. Trump on Friday rejected French President Emmanuel Macron's intention to recognise a Palestinian state, a plan that also drew strong condemnation from Israel.
Trump said he understood Starmer's desire to discuss Israel, adding that while the United States would increase its aid to Gaza, it wanted others to join the effort. Ukraine will also be on the agenda.
British Chancellor James Murray described the situation in Gaza as 'appalling and quite frankly horrifying,' telling British radio, 'Starvation, the securing of food, must not be used as a method of war. It's completely unjustifiable and it must end.' Foreign Secretary David Lammy said Israel must allow aid trucks 'unfettered' access as it was the 'only viable and sustainable way' to get sufficient supplies to the population.
Gaza's health ministry has said that dozens of residents have died from malnutrition in recent weeks, as aid organisations warn of widespread hunger among the enclave's 2.2 million people.
The two leaders are expected to travel from Trump's luxury golf resort on Scotland's west coast to another sprawling Trump-owned property in the east, near Aberdeen. Starmer travelled to Scotland from Switzerland, where England won the final of the Women's Euro soccer championship on Sunday.
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Mid East Info
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Make-or-break week for stocks: key questions investors are asking
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A: The focus is shifting from whether AI capex is too high to whether it's translating into monetization and operational efficiency, and investors are starting to see early signs of both. Alphabet just raised its full-year capex forecast to $85 billion, citing strong demand for cloud and AI services. Google Cloud is now growing over 30% YoY, and executives noted that AI search results are being monetized at rates similar to traditional search, with AI overviews also driving more traffic. That helped reassure markets that AI spending is beginning to yield returns. Meta has previously raised capex guidance and shown that AI is improving ad performance and user engagement. Investors will look for more evidence of that in this week's results, especially given that costs are climbing as Meta builds out a new, dedicated AI team. The company will need to show that rising investment continues to translate into tangible business results to justify its elevated spending trajectory. 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A: The medium-term downtrend in the dollar remains intact, anchored by expectations of Fed easing, a narrowing yield advantage, and long-term structural imbalances. However, crowded short positioning, resilient U.S. data, and relative weakness abroad suggest the potential for a short-term reversal. The recent US-EU trade deal, initially viewed as stabilizing, is now seen as a structural drag for the eurozone, raising tariff burdens and weighing on growth assumptions. With the euro making up nearly 60% of the DXY index, this underperformance is directly lifting the dollar. If U.S. data this week holds firm, and Fed rhetoric remains cautious, the dollar may continue to find support, even as the broader trend remains bearish. Q: When will gold break out of its range? A: Gold remains range-bound for now, consolidating between $3,300 and $3,430. The immediate technical hurdle is the 50-day moving average near $3,340. A sustained break above that level would open the path toward retesting $3,400, and a breakout beyond $3,430 could signal a renewed bull leg. On the downside, $3,300 remains key support—marking the lower bound of June's consolidation zone. Signs of easing global trade tensions and resilient U.S. economic data have lifted risk appetite and pressured gold, with some safe-haven flows rotating into equities and higher-yielding assets. At the same time, the potential for short-term U.S. dollar strength adds to the headwinds for gold, particularly in the near term. However, the medium- to long-term backdrop still supports the bull case. A dovish Fed pivot, renewed risks of geopolitical shocks, or a weaker dollar could revive upside momentum. And beneath the surface, structural tailwinds—including persistent fiscal deficits, central bank gold buying, and downward pressure on real yields—continue to provide a solid floor for gold, even as short-term volatility persists.


Al-Ahram Weekly
an hour ago
- Al-Ahram Weekly
Russia kills 22 civilians in Ukraine as the Kremlin remains defiant over Trump threats - War in Ukraine
Russian glide bombs and ballistic missiles struck a Ukrainian prison and a medical facility overnight as Russia's relentless strikes on civilian areas killed at least 22 people across the country, officials said Tuesday, despite U.S. President Donald Trump's threat to soon punish Russia with sanctions and tariffs unless it stops. Four powerful Russian glide bombs hit a prison in Ukraine's southeastern Zaporizhzhia region, authorities said. They killed at least 17 inmates and wounded more than 80 others, officials said. In the Dnipro region of central Ukraine, authorities said Russian missiles partially destroyed a three-story building and damaged nearby medical facilities, including a maternity hospital and a city hospital ward. Officials said at least four people were killed, including a 23-year-old pregnant woman, and eight were injured. Ukrainian President Volodymyr Zelenskyy said that across the country, 22 people were killed in Russian strikes on 73 cities, towns and villages. 'These were conscious, deliberate strikes — not accidental,' Zelenskyy said on Telegram. Trump said Monday he is giving Russian President Vladimir Putin 10 to 12 days to stop the killing in Ukraine after three years of war, moving up a 50-day deadline he had given the Russian leader two weeks ago. The move meant Trump wants peace efforts to make progress by Aug. 7-9. Trump has repeatedly rebuked Putin for talking about ending the war but continuing to bombard Ukrainian civilians. But the Kremlin hasn't changed its tactics. 'I'm disappointed in President Putin,' Trump said during a visit to Scotland. Zelenskyy welcomed Trump's move on the timeline. 'Everyone needs peace — Ukraine, Europe, the United States and responsible leaders across the globe,' Zelenskyy wrote in a post on Telegram. 'Everyone except Russia.' The Kremlin pushes back against Trump The Kremlin pushed back, with a top Putin lieutenant warning Trump against 'playing the ultimatum game with Russia.' 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It said 32 Shahed drones were intercepted or neutralized by Ukrainian air defences. The Russian attack close to midnight Monday hit the Bilenkivska Correctional Facility with glide bombs, according to the State Criminal Executive Service of Ukraine. Glide bombs, which are Soviet-era bombs retrofitted with retractable fins and guidance systems, have been laying waste to cities in eastern Ukraine, where the Russian army is trying to pierce Ukrainian defenses. The bombs carry up to 3,000 kilograms (6,600 pounds) of explosives. At least 42 inmates were hospitalised with serious injuries, while another 40 people, including one staff member, sustained various injuries. The strike destroyed the prison's dining hall, damaged administrative and quarantine buildings, but the perimeter fence held and no escapes were reported, authorities said. Ukrainian officials condemned the attack, saying that targeting civilian infrastructure, such as prisons, is a war crime under international conventions. The assault occurred exactly three years after an explosion killed more than 50 people at the Olenivka detention facility in the Russia-occupied Donetsk region, where dozens of Ukrainian prisoners were killed. Russia and Ukraine accused each other of shelling the prison. The Associated Press interviewed over a dozen people with direct knowledge of details of that attack, including survivors, investigators and families of the dead and missing. All described evidence they believed points directly to Russia as the culprit. The AP also obtained an internal United Nations analysis that found the same. Further Russian attacks hit communities in Synelnykivskyi district with FPV drones and aerial bombs, killing at least one person and injuring two others, regional Gov. Serhii Lysak said. Russian forces also targeted the community of Velykomykhailivska, killing a 75-year-old woman and injuring a 68-year-old man, according to Lysak. Ukraine launches long-range drones Ukraine has sought to fight back against Russian strikes by developing its own long-range drone technology, hitting oil depots, weapons plants and disrupting commercial flights. Russia's Defense Ministry said Tuesday that air defenses downed 74 Ukrainian drones over several regions overnight, including 43 over the Bryansk region. Yuri Slyusar, the head of the Rostov region said a man in the city of Salsk was killed in a drone attack, which started a fire at the Salsk railway station. Officials said a cargo train was set ablaze at the Salsk station and the railway traffic via Salsk was suspended. Explosions shattered windows in two cars of a passenger train and passengers were evacuated. Follow us on: Facebook Instagram Whatsapp Short link: