byiShook Opinion
Oct 29, 2023 - 10:12
Israel initiates ground operation in Gaza, urging surrender. Markets react cautiously. Updates on conflict's impact and regional response.
Israel has started a ground operation in Gaza, hitting hundreds of Hamas targets, including missile-launch posts. This action comes as a response to rocket launches from Lebanon, linked to Iran-backed Hezbollah. There's concern this could lead to a bigger conflict in the Middle East. Prime Minister Benjamin Netanyahu has warned of a tough and long war.
Limited internet and phone access in Gaza has been restored, but about a third of the local infrastructure was damaged by Israel. Saudi Arabia and the United Arab Emirates are among those condemning the escalation. Iran, supporting Hamas and other groups, suggests that Israel's recent moves might prompt further action.
Israel's attacks in Gaza have resulted in thousands of Palestinian casualties. Hamas, deemed a terrorist group by the US and EU, initiated an attack on Israel earlier this month, resulting in significant loss of life. Israel is working with partners to secure the release of hostages.
Israeli planes dropped leaflets over Gaza, urging Hamas members to surrender. They are instructed to remove their military gear, raise their hands, and wave a white cloth if possible.
Middle Eastern markets showed little panic after Israel's ground invasion of Gaza. Investors have been cautious, watching for signs of a broader conflict. Experts believe that a severe escalation is unlikely in the near term, which is good news for global financial markets.
Israeli ground operations in northern Gaza continue. Troops, guided by aircraft, targeted Hamas military sites, including missile-launching and observation posts. There were casualties among Hamas members who fired at soldiers, as well as militants near the Gaza coastline.
Israel responded to attacks near the Lebanese border, attributed to Hezbollah. There were skirmishes around Israel's northern border. The Israel Defense Forces targeted Hezbollah locations in Lebanon.
Egypt's Foreign Minister stresses the need for a coordinated humanitarian truce in Gaza. They want to avoid further civilian casualties, cautioning against using self-defense or anti-terrorism justification.
BNP Paribas CEO warns of potential global economic consequences if the regional situation worsens. The Middle East is a crucial route for raw materials, which could be disrupted.
Confrontations with Israel's military in the West Bank have led to three Palestinian casualties. This brings the total to 115 since the conflict began on October 7. Palestinian President Mahmoud Abbas calls for international pressure to stop the bloodshed.
JPMorgan predicts Israel's economy may contract by 11% in the last quarter of the year due to the escalating conflict. Initial projections were overly optimistic, according to analysts.
Israel plans to significantly increase aid to Gaza in the coming week. This aid will be inspected and delivered through the Rafah border crossing from Egypt to UN distribution centers in southern Gaza.
Thousands in Gaza broke into UN warehouses, taking essential supplies. This raises concerns about civil order deteriorating after weeks of war and siege.
Former Israeli Prime Minister Naftali Bennett suggests creating a 2-kilometer permanent buffer zone within Gaza. He also proposes strategies to restrict Hamas fighters in tunnels.
Israel reports striking over 450 Hamas military targets in Gaza, including command centers, observation posts, and missile launch posts.
Iran's President Ebrahim Raisi warns that Israel's actions have crossed red lines and may lead to broader action. He criticizes the US for supporting Israel.
Saudi Arabia and the UAE condemn Israel's ground operations in Gaza, expressing deep concern about military escalation. They refer to a recent UN resolution calling for a cessation of hostilities and unhindered aid delivery.
Saudi Defense Minister Khalid bin Salman is set to meet with top US officials in Washington.
Must Read: U.S.-Israel Talks Address Gaza Assault: Commitment to Humanitarian Principles