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Islamic State group claims first attack on new Syria forces since fall of Assad regime

Islamic State group claims first attack on new Syria forces since fall of Assad regime

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The Islamic State group on Thursday claimed responsibility for what seems to be its first attack on Syria's new government forces, two war monitors have reported. The Syrian Observatory for Human Rights said that one person was killed and three wounded by a remote control landmine on Wednesday.
The Islamic State (IS) group on Thursday claimed its first attack on Syria's new government forces since the fall of longtime Syrian president Bashar al-Assad, two war monitors said.
In a statement picked up by SITE Intelligence Group, IS said it had planted an "explosive device" on a Syrian forces' vehicle in the southern province of Sweida.
SITE and the Syrian Observatory for Human Rights (SOHR) said it was the first IS-claimed attack on Syria's new government. SOHR said that one person was killed and three members of the Syrian army's 70th division were injured when a patrol was hit by a remote control landmine on Wednesday.
The man killed was accompanying the Syrian government forces in the desert area, according to SOHR.
Once in control of large swathes of Syria and Iraq, IS was territorially defeated in Syria in 2019 largely due to the efforts of Kurdish-led forces supported by an international coalition. It has maintained a presence mainly in the country's vast desert.
(FRANCE 24 with AFP and AP)
Read more on FRANCE 24 EnglishRead also:In Damascus, US envoy inks $7 billion energy deal, calls for Israel-Syria peace pactEU sanctions Syrian militia groups over ethnic violence targeting Alawites

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AP PHOTOS: An AP photographer captures the moment an Israeli airstrike slammed into Gaza City
AP PHOTOS: An AP photographer captures the moment an Israeli airstrike slammed into Gaza City

Associated Press

time43 minutes ago

  • Associated Press

AP PHOTOS: An AP photographer captures the moment an Israeli airstrike slammed into Gaza City

GAZA CITY, Gaza Strip (AP) — An Associated Press photographer captured the moment an Israeli airstrike slammed into a building in Gaza City, showing a rare glimpse of the devastation Israeli air power has had on the Palestinian territory during the 19-month war with Hamas. Jehad Alshrafi's photos show a fireball, a massive cloud of smoke and people running away after Sunday's strike. Israel had warned residents before hitting the building, and there were no reports of casualties. The target of the strike was not known. ___ This is a photo gallery curated by AP photo editors.

Stanley Fischer, who spread the macroeconomic gospel, dies at 81
Stanley Fischer, who spread the macroeconomic gospel, dies at 81

Yahoo

timean hour ago

  • Yahoo

Stanley Fischer, who spread the macroeconomic gospel, dies at 81

(Bloomberg) — Stanley Fischer, a professor and practitioner of macroeconomics who helped guide central banks in two countries, Israel and the US, and mentored a younger generation of economic decision-makers, has died. He was 81. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months He died on Saturday, the Bank of Israel said in a statement, expressing condolences. Fischer, known as Stan, served as vice chairman of the US Federal Reserve from 2014 to 2017 following eight years as governor of the Bank of Israel, adding to a resume that included time at the Massachusetts Institute of Technology, spells at the International Monetary Fund and World Bank, and a stint as vice chairman of New York-based Citigroup Inc. The roster of MIT students he taught and advised included Ben S. Bernanke, who would go on to become Fed chair and called Fischer his mentor; Mario Draghi, a future European Central Bank president and prime minister of Italy; Lawrence Summers, who would serve as US Treasury secretary under Bill Clinton; Greg Mankiw, who would lead President George W. Bush's Council of Economic Advisers; Kazuo Ueda, named Bank of Japan governor in 2023; and two IMF chief economists, Olivier Blanchard and Maurice Obstfeld. Countless other college undergraduates were introduced to the dismal science by Macroeconomics, the textbook Fischer wrote in 1978 with his MIT colleague, Rudi Dornbusch. The 13th edition of the book was published in 2018. 'It is hard to think of any other macroeconomist alive who has had as much direct and indirect influence, through his own research, his students, and his policy decisions, on macroeconomic policy around the world,' Blanchard wrote of Fischer in 2023. Fischer and Blanchard co-authored Lectures on Macroeconomics, published in 1989. Dispatched on several occasions to extinguish economic emergencies around the world, Fischer drew academic lessons from his first-hand experience with countries in crisis. The pattern began in 1983, when George Shultz, then the US secretary of state, invited Fischer to serve on a joint US-Israeli team of experts helping Israel reverse a prolonged period of weak growth, triple-digit inflation and falling foreign exchange reserves. Their work resulted, in 1985, in an economic stabilization program combining a large reduction in government subsidies with the fixing of the exchange rate, a tightening of monetary policy, and wage and price controls — followed, crucially, by the US supplying a $1.5 billion two-year aid package. That was a prelude to Fischer's tenure as the No. 2 official at the IMF, the lender of last resort to countries in economic peril. Starting in 1994, Fischer traveled the globe to help resolve interrelated financial crises in Mexico, Russia, Brazil, Thailand, Indonesia and South Korea. His role meant he often overshadowed his boss, IMF Managing Director Michel Camdessus. But years later, Fischer credited Camdessus with keeping a sense of calm following the collapse of the Mexican peso in 1994, the first IMF crisis Fischer faced. 'I thought Western civilization as we knew it was coming to an end,' but Camdessus 'had seen this particular play before,' Fischer recalled. The IMF provided about $250 billion in emergency loans during Fischer's seven years as first deputy managing director, ending in 2001. To accept Israel's 2005 offer to head its central bank, Fischer, an American citizen since 1976, added Israeli citizenship. He conducted business in Hebrew, with an accent that indicated his upbringing in southern Africa. Under his leadership, Israel's central bank was the first to cut rates in 2008 at the start of the global economic crisis, and the first to raise rates the following year in response to signs of financial recovery. In 2011, responding to a global downturn, the bank embarked on a series of rate cuts that pushed the benchmark from 3.25% to a record low 0.1% in 2015. Major changes enacted by Fischer during his eight-year tenure included shifting responsibility for the monthly interest-rate decision from the governor alone to a six-member Monetary Committee, including three outside academics. 'It is testament to Stan's skillful handling of Israel's economy that it is one of the very few advanced economies whose output increased every year through the crisis period,' former Bank of England Governor Mervyn King said in 2013. President Barack Obama appointed Fischer as vice chairman of the Fed Board of Governors under Janet Yellen. Fischer announced his retirement in 2017, a year before his four-year term was to end. He joined BlackRock Inc. as an adviser in 2019. Fischer was born on Oct. 15, 1943, in Mazabuka, a town in Zambia, the nation then known as Northern Rhodesia. His family was part of a close-knit community of Jews who had emigrated to southern Africa. His Latvian-born father, Philip, ran a general store. His mother, Ann, had been born in Cape Town, the daughter of Lithuanian immigrants, according to a Financial Times profile. At 13, the family moved to Zimbabwe, then called Southern Rhodesia, where Stanley became active in the Habonim, a Zionist youth group, along with Rhoda Keet, his future wife. In the early 1960s, he spent six months on a kibbutz on Israel's Mediterranean coastal plain, where he combined learning Hebrew with picking and planting bananas. He was introduced to economics through a course in his senior year in high school and moved to the UK to study at the London School of Economics, earning a bachelor's degree in 1965 and a master's in 1966. He chose MIT for his doctorate work so that he could study under future Nobel laureate economists Paul Samuelson and Robert Solow. He said he may have been drawn to macroeconomics 'because I was interested in big questions.' 'I had this image of the world as we knew it having nearly collapsed in the 1930s, and that these guys' — the macroeconomists — 'had saved it,' he said in a 2005 interview with Blanchard. He earned his Ph.D. in economics in 1969, worked as an assistant professor at the University of Chicago, then returned to MIT in 1973 as an associate professor. The first course he taught was monetary economics, alongside Samuelson. He became a full professor in 1977. Bernanke, who earned his Ph.D. from MIT in 1979, traced his interest in monetary policy to a conversation he had with Fischer — 'then a rising academic star' — in the late 1970s. He said Fischer handed him a copy of A Monetary History of the United States, 1867-1960 (1963), by Milton Friedman and Anna J. Schwartz, with the encouragement, 'Read this. It may bore you to death. But if it excites you, you might consider monetary economics.' Bernanke credited Fischer with popularizing the principle that while the Fed pursues goals set by the president and Congress, it has policy independence — freedom to use its tools as it sees fit to achieve those goals. As chief economist of World Bank from 1988 to 1990, Fischer visited China and India and became, he later said, 'gripped by the problem of development.' After Fischer left the IMF in 2001, he joined Citigroup Inc. as a vice chairman and drew on his experience to lead the bank's country risk committee. Fischer declared himself a candidate for the top role at the IMF in 2011, following the resignation of Dominique Strauss-Kahn. At 67, however, he was over the IMF's age limit of 65 for managing directors, meaning he would have needed a change in rules. The job went to Christine Lagarde. In 2013, Fischer was thought to be a possible candidate to succeed Bernanke at the helm of the Fed. Obama instead chose Yellen, with Fischer as her deputy. 'In a just world, Stan would have served at some point as Fed chairman or managing director of the IMF,' Summers wrote in 2017. 'Fate is fickle and it did not happen. But Stan through his teaching, writing, advising and leading has had as much influence on global money as anyone in the last generation. Hundreds of millions of people have lived better because of his efforts.' 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Stanley Fischer, former Fed vice chair and Bank of Israel chief, dies at 81
Stanley Fischer, former Fed vice chair and Bank of Israel chief, dies at 81

Yahoo

timean hour ago

  • Yahoo

Stanley Fischer, former Fed vice chair and Bank of Israel chief, dies at 81

By Steven Scheer JERUSALEM (Reuters) - Stanley Fischer, who helped shape modern economic theory during a career that included heading the Bank of Israel and serving as vice chair of the U.S. Federal Reserve, has died at the age of 81. The Bank of Israel said he died on Saturday night but did not give a cause of death. Fischer was born in Zambia and had dual U.S.-Israeli citizenship. As an academic at the Massachusetts Institute of Technology, Fischer trained many of the people who went on to be top central bankers, including former Federal Reserve Chairman Ben Bernanke as well as Mario Draghi, the former European Central Bank president. Fischer served as chief economist at the World Bank, and first deputy managing director at the International Monetary Fund during the Asian financial crisis and was then vice chairman at Citigroup from 2002 to 2005. During an eight-year stint as Israel's central bank chief from 2005-2013, Fischer helped the country weather the 2008 global financial crisis with minimal economic damage, elevating Israel's economy on the global stage, while creating a monetary policy committee to decide on interest rates like in other advanced economies. He was vice chair of the Federal Reserve from 2014 to 2017 and served as a director at Bank Hapoalim in 2020 and 2021. Current Bank of Israel Governor Amir Yaron praised Fischer's contribution to the Bank of Israel and to advancing Israel's economy as "truly significant". The soft-spoken Fischer - who played a role in Israel's economic stabilisation plan in 1985 during a period of hyperinflation - was chosen by then Finance Minister Benjamin Netanyahu and Prime Minister Ariel Sharon as central bank chief. Netanyahu, now prime minister, called Fischer a "great Zionist" for leaving the United States and moving to Israel to take on the top job at Israel's central bank. "He was an outstanding economist. In the framework of his role as governor, he greatly contributed to the Israeli economy, especially to the return of stability during the global economic crisis," Netanyahu said, adding that Stanley - as he was known in Israel - proudly represented Israel and its economy worldwide. Israeli President Isaac Herzog also paid tribute. "He played a huge role in strengthening Israel's economy, its remarkable resilience, and its strong reputation around the world," Herzog said. "He was a world-class professional, a man of integrity, with a heart of gold. A true lover of peace."

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