Palestinians slam Trump's decision to shut PLO consulate
Jerusalem, Sep 10: Palestinian officials on Monday vowed not to bend to what they called the Trump administrations "bullying tactics" after being informed that their office in Washington would be shut down.
Palestine Liberation Organization (PLO) Secretary General Saeb Erekat said the move -- which leaves them with no formal diplomatic presence in the US -- was a further blow to all Palestinians, as it comes shortly after the Trump administration cut hundreds of millions of dollars in funding to the UN agency for Palestinian refugees.
Erekat said he was officially notified of the decision, expected to be announced by US National Security Adviser John Bolton later in the day. He decried the move as a continuation of a policy of "collective punishment" by the US administration, the Washington Post reported.
"These people have decided to stand on the wrong side of history by protecting war criminals and destroying the two state solution," he said. "I told them if you are worried about courts, you should stop aiding and abetting crimes."
"We will take the necessary measures to protect the rights of our citizens living in the US to access their consular services," he said
Palestine's de-facto embassy in Washington is affiliated with the PLO, the political organization that controls the Palestinian Authority government in the West Bank, but not the Hamas-run government in the Gaza Strip.
The move appeared to be the latest in a series of pressure tactics by the US against the Palestinian leadership as the Trump administration drafts its long awaited peace deal.
In a series of blows to the Palestinians, the US recognized Jerusalem as the capital of Israel, moved its embassy there, cut funding to the UN agency that deals with Palestinian refugees, and then last week said it would withdraw $25 million in support from hospitals in East Jerusalem.
The US last year threatened to close the PLO office in Washington after Palestinian President Mahmoud Abbas called on the International Criminal Court (ICC) to investigate and prosecute Israel for war crimes. US officials said the decision may be reconsidered if the Palestinians entered into direct negotiations with Israel.
In a speech on Monday, Bolton will threaten to impose sanctions against the ICC if it proceeds with investigations against the US or Israel, the Wall Street Journal reported, citing an advance copy of his speech.
Washington would ban ICC judges and prosecutors from entering the country, sanction their funds in the US financial system and prosecute them in the courts, the report said.
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Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions
Mumbai (PTI): The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.
Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today.
At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.
On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.
"An estimated 80–85 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said.
Pabari further noted that looking ahead, the picture for the rupee appears to be changing. "With most of the NOP-related support now fading and global uncertainties still elevated, the scope for further strength seems limited. USDINR is likely to find a base in the 92.20–92.50 zone, with a gradual move higher towards 93.50–94.00 levels," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.07 per cent at 98.69 as the safe-haven demand has come down after the ceasefire, but as the ceasefire is fragile, the US dollar is getting bids at lower levels.
Brent crude, the global oil benchmark, was trading higher by 0.51 per cent at USD 96.44 per barrel in futures trade, as the ongoing uncertainty over the Strait of Hormuz opening is keeping the oil trade well bid.
Pabari further noted that just as domestic support begins to fade, the global backdrop is turning uneasy again. "The World Bank has flagged that India's growth for FY27, expected at 6.6 per cent, faces risks from rising global tensions, especially the Iran conflict," he said.
According to Pabari, India continues to have strong buffers in the form of forex reserves and a stable banking system, but pressure points are slowly beginning to build.
On the domestic equity market front, the stock markets witnessed a rebound in early trade. The 30-share Sensex jumped 630.08 points to 77,261.73, while the Nifty climbed 203.6 points to 23,978.70.
Foreign Institutional Investors offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
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