In a significant monetary policy move, the UAE Central Bank announced a reduction in its key benchmark rate to 3.90%, effective October 30. This decision, which lowers the base rate on overnight deposit facilities by 25 basis points from 4.15%, comes in direct response to the US Federal Reserve’s decision to cut interest rates by 25 basis points earlier on Wednesday. This marks the second rate cut by the Fed this year. The UAE’s monetary policy is closely tied to the US due to the dirham’s peg to the US dollar, necessitating alignment with Federal Reserve actions. Additionally, the UAE Central Bank has opted to maintain the interest rate for short-term liquidity borrowing at 50 basis points above the base rate for all standing credit facilities. The base rate, which is anchored to the US Federal Reserve’s Interest Rate on Reserve Balances, serves as a critical indicator of the UAE’s monetary policy stance and sets a floor for overnight money market rates. The US rate cut aims to stimulate the economy amid ongoing challenges, including the lingering effects of former President Donald Trump’s tariffs and the prolonged government shutdown, which has disrupted the publication of official economic data. Fed officials have expressed concerns about a cooling labor market, prompting a focus on bolstering employment despite inflation remaining above target. While financial markets had anticipated the October and December rate cuts, Fed Chair Jerome Powell has indicated that the Federal Open Market Committee (FOMC) remains open to future decisions. Analysts, including EY chief economist Gregory Daco, suggest that Powell has not yet committed to a December rate cut, though two quarter-point reductions this year are widely expected. Amid these developments, Trump’s efforts to exert greater control over the Federal Reserve and plans to replace Powell add further complexity to the economic landscape.
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Cruise ship ‘failed’ woman who was left on island and died, family says
The daughter of an 80-year-old woman who was left behind by a cruise ship on a remote island and later died has accused the operator of a ‘failure of care and common sense.’ Suzanne Rees, a healthy and active woman from New South Wales, was found dead on Lizard Island, part of the Great Barrier Reef, on Sunday. She had been hiking with fellow passengers the previous day but was not on the ship when it departed hours later. Her daughter, Katherine Rees, expressed her shock and sadness, stating that the Coral Adventurer left ‘without my mum.’ She criticized the cruise operator for not ensuring her mother’s safety, especially given the extreme heat and her mother’s need to rest during the hike. Suzanne had been on the first stop of a 60-day cruise around Australia, which had departed from Cairns earlier in the week. Passengers, who pay tens of thousands of dollars for the cruise, were taken to Lizard Island for a day trip with options for hiking or snorkeling. Suzanne had joined a group hike to the island’s highest peak, Cook’s Look, but separated from the group to rest. Katherine Rees revealed that her mother fell ill during the hike and was instructed to return unescorted. The ship allegedly departed without conducting a passenger count, leaving Suzanne alone on the island. Katherine hopes a coronial inquiry will determine what actions the company could have taken to save her mother’s life. The Australian Maritime Safety Authority (AMSA) is investigating the incident and will meet with the ship’s crew when it docks in Darwin later this week. AMSA was first alerted to Suzanne’s disappearance by the ship’s captain at around 21:00 local time on Saturday. A search party was dispatched but failed to locate her until her body was discovered by a helicopter on Sunday morning. Mark Fifield, CEO of Coral Expeditions, expressed deep sorrow for the tragedy and assured that the company is cooperating with authorities. The Coral Adventurer, designed to access remote areas of Australia’s coast, accommodates up to 120 guests and 46 crew members. Harriet Mallinson, a cruise editor, noted that such incidents are rare, as cruise ships typically have robust systems to track passenger movements. She described the event as a ‘shocking and tragic one-off.’
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At least 20 dead as Hurricane Melissa hits Haiti
Hurricane Melissa has left a trail of destruction in Haiti, claiming at least 20 lives and causing widespread devastation, according to local media reports. The hurricane, one of the most powerful to hit the Caribbean in recent years, brought torrential rains and severe flooding to multiple regions, particularly impacting the southwestern coastal town of Petit-Goave. Jean Bertrand Subreme, the mayor of Petit-Goave, described the scene as catastrophic, with entire neighborhoods reduced to rubble and debris. Footage from the area revealed extensive damage, with victims’ remains still buried under collapsed structures. The hurricane has exacerbated the already dire situation in Haiti, where over 1.3 million people have been displaced due to gang violence. Many of these displaced individuals sought refuge in shelters, such as the Church of Jesus Christ of Latter-day Saints in Port-au-Prince, where makeshift homes with plastic sheet roofs were inspected during the storm. The international community is closely monitoring the situation, as Haiti faces yet another humanitarian crisis in the wake of this natural disaster.
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Hurricane Melissa floods and destroys towns across Caribbean
Hurricane Melissa has unleashed catastrophic flooding across the Caribbean, resulting in widespread destruction and a mounting death toll. In Jamaica, authorities have confirmed the deaths of at least four individuals, while neighboring Haiti has reported a staggering 20 fatalities due to the relentless flooding. The storm’s ferocity has submerged towns, destroyed infrastructure, and displaced countless residents, leaving communities in disarray. Emergency response teams are working tirelessly to provide aid and assess the full extent of the damage. Meteorologists warn that the hurricane’s path may continue to pose significant threats to other regions in the coming days. The Caribbean nations, already vulnerable to extreme weather events, are now grappling with the aftermath of this latest natural disaster, highlighting the urgent need for enhanced disaster preparedness and climate resilience measures.
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Rio police raids kill at least 132, corpses line street
In what has been described as the deadliest police operation in Brazil’s history, at least 132 people were killed during a large-scale raid in Rio de Janeiro. The operation, which targeted the Comando Vermelho drug gang, was meticulously planned over two months and aimed to corner suspects in a forested hillside where a special police unit lay in wait. The aftermath saw residents of the Penha neighborhood lining the streets with dozens of corpses recovered from the surrounding area. Among the dead were four police officers, while 113 suspects were arrested, and 118 firearms were seized. Rio Governor Claudio Castro defended the operation, stating that those killed were criminals engaged in gunfire from the forest. However, the high death toll has drawn sharp criticism from civil society groups and the United Nations, which called for a prompt and effective investigation into the incident. The federal government, led by President Luiz Inacio Lula da Silva, was reportedly caught off guard by the operation, with Justice Minister Ricardo Lewandowski expressing concerns over the lack of prior notification. The incident has reignited debates over police violence in Brazil’s marginalized communities, particularly as Rio prepares to host global climate events next week.
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UAE’s Obaid Alketbi clinches gold at Asian Youth Games in Bahrain
The UAE Jiu-Jitsu national team made a remarkable debut at the Asian Youth Games in Bahrain, securing two medals on the opening day. Obaid Alketbi triumphed with a gold medal in the 56kg division, while his teammate Salem Alqubaisi claimed silver in the 62kg category. These victories elevated the UAE’s total medal count to 21, comprising nine gold, seven silver, and five bronze, solidifying the nation’s sixth-place standing and its position as the leading Arab country in the competition. With less than 48 hours remaining, the UAE athletes continue to showcase their technical prowess, composure, and determination. China leads the overall standings with 105 medals, followed by Uzbekistan and Kazakhstan. Among Arab nations, Saudi Arabia ranks 13th, Iraq 14th, and host nation Bahrain 15th. In badminton, UAE’s Rayan Malhan advanced to the semifinals after a decisive victory over Indonesia’s Jin Maharishil, setting up a clash with China’s Xu Ji Ning. Meanwhile, cyclist Sultan Al Hammadi finished eighth in the road race, competing against 69 participants from across Asia. The Jiu-Jitsu events highlighted intense matchups and stellar performances, with the UAE team demonstrating tactical awareness and discipline. Yousef Abdullah Al Batran, Board Member of the UAE Jiu-Jitsu Federation, praised the athletes’ progress, attributing their success to the nation’s leadership and the Federation’s focus on youth development. Gold medallist Obaid Alketbi expressed pride in his achievement, emphasizing the rigorous preparation and determination that fueled his victory. Silver medallist Salem Alqubaisi credited his performance to strong preparation, coaching, and team support, vowing to aim for further success. The Jiu-Jitsu events continue on Thursday, with the UAE team poised to add more medals to their tally.
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Latest US boat strike kills four in the Pacific, Hegseth says
The United States has intensified its campaign against maritime drug trafficking with a series of lethal strikes in the eastern Pacific Ocean, resulting in multiple fatalities. US Defense Secretary Pete Hegseth announced on X that a recent operation, authorized by President Donald Trump, targeted a vessel suspected of transporting illegal drugs, killing four men. This follows a similar strike earlier in the week that claimed 14 lives. The White House has framed these actions as part of a broader strategy to curb the flow of narcotics into the US via the Pacific and Caribbean. Hegseth emphasized that the Western Hemisphere will no longer be a sanctuary for drug traffickers, vowing to continue such operations. The strikes, conducted in international waters, have drawn criticism from regional governments and legal experts, with concerns raised about their legality and the president’s authority to order them. The US has also bolstered its military presence in the Caribbean, deploying advanced assets like the USS Gerald R Ford. Tensions have escalated with Colombia and Venezuela, the latter accusing the US of attempting to overthrow President Nicolas Maduro and exploit the country’s natural resources. The US does not recognize Maduro as Venezuela’s legitimate leader following the disputed 2024 election.
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Saudi’s Diriyah gigaproject eyes role rebuilding historic Syrian sites
Saudi Arabia’s ambitious Diriyah gigaproject, a cornerstone of the kingdom’s Vision 2030 strategy to diversify its economy and establish itself as a global tourism and cultural hub, is now eyeing a potential role in the reconstruction of historic sites in Syria. Jerry Inzerillo, CEO of Diriyah Gate Company, revealed during the Future Investment Initiative (FII) summit in Riyadh that discussions with Syrian officials have taken place regarding this collaboration. ‘Someone is going to rebuild Damascus and Aleppo at some point, and Beirut as well,’ Inzerillo stated, emphasizing that while the company is currently occupied with its primary project, it may consider contributing to Syria’s reconstruction in the future. The ongoing conflict in Syria has devastated many of its ancient cities and archaeological treasures, including the ancient city of Aleppo and the Roman temple sites at Palmyra, prompting international calls for restoration efforts. Challenges such as funding, security, and political coordination remain significant hurdles. Meanwhile, the Diriyah project, which includes luxury hotels, museums, and residential units centered around the UNESCO-listed At-Turaif district, is progressing on schedule and within budget. The company is also exploring opportunities to develop six additional cultural heritage sites in Saudi Arabia and plans to pursue an initial public offering on the Saudi exchange after 2030, anticipating billions in foreign private investment.
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Qatari PM says Hamas ruled out role in Gaza governance, but disarmament talks ongoing
Qatar has disclosed that Hamas is prepared to relinquish its governance role in Gaza but remains uncommitted to unconditional disarmament. Speaking at a Council on Foreign Relations event in New York, Qatari Prime Minister Mohammed bin Abdulrahman al-Thani emphasized that Hamas views disarmament as a collective obligation for all factions, not solely their own. He stressed the necessity of ensuring safety for both Palestinians and Israelis through decommissioning and disarmament efforts. Qatar, alongside the US, Turkey, and Egypt, is a key guarantor of the recent Gaza ceasefire, which has been plagued by violations, including Israel’s refusal to open the Rafah border crossing and continued air strikes. On Tuesday, Israel launched its most severe attacks since the ceasefire, resulting in over 100 Palestinian casualties, including 46 children. Israel accused Hamas of breaching the ceasefire, citing an alleged attack on troops in Rafah that killed one soldier. Hamas denied involvement, while US President Donald Trump supported Israel’s retaliatory actions, expressing confidence in the ceasefire’s durability. Qatar, Turkey, and Egypt played pivotal roles in brokering the ceasefire, with Trump exerting pressure on Israeli Prime Minister Benjamin Netanyahu. Despite Israel’s ongoing occupation of half the Gaza Strip, the US is drafting a UN resolution to deploy Arab and Muslim peacekeeping forces to Gaza, avoiding references to a two-state solution. The US is likely to rely on Gulf states, including Qatar, for Gaza’s reconstruction and peacekeeping costs. The recent Israeli attack on Hamas negotiators in Doha, which killed six people, including a Qatari security official, has further complicated regional dynamics. Trump’s administration responded by pledging to defend Qatar and signing a new military training agreement. Thani described the Doha attack as a turning point in ceasefire negotiations, highlighting the crossing of red lines. Middle East Eye continues to provide independent coverage of these developments.
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Former world leaders urge Israel to release Marwan Barghouti
The Elders, a distinguished group of former world leaders and officials, have issued a compelling appeal for the immediate release of Marwan Barghouti, a prominent Palestinian politician currently incarcerated in an Israeli prison. Barghouti, who has been detained since 2002 and is serving five life sentences, is regarded as the most high-profile Palestinian prisoner. The Elders, established by Nelson Mandela in 2007, argue that Barghouti’s release could be a pivotal step towards revitalizing the two-state solution. They emphasized his longstanding advocacy for peaceful means to achieve this goal and his consistent popularity in Palestinian opinion polls. The group includes notable figures such as Juan Manuel Santos, Helen Clark, Mary Robinson, and Gro Harlem Brundtland, among others. They condemned the alleged ill-treatment and torture of Barghouti and other Palestinian prisoners, urging Israeli authorities to adhere to international law. Barghouti, a former senior leader of Fatah and elected member of the Palestinian Legislative Council, was convicted in 2004 of multiple counts of murder, charges he has consistently denied. The Elders highlighted that his trial was marred by breaches of international law and lacked fairness. They also noted his role as a unifying figure, with opinion polls suggesting he would likely win the Palestinian presidency if elections were held. The group welcomed Palestinian Authority President Mahmoud Abbas’s commitment to free and fair elections within the next year, emphasizing Barghouti’s potential role in this process. They recalled Archbishop Desmond Tutu’s 2013 call for Barghouti’s release, stating that freeing him would signal Israel’s commitment to a peaceful resolution of the conflict. Some Israeli figures, including a former Shin Bet leader, have also called for his release. Barghouti’s wife, Fadwa, recently appealed to US President Donald Trump to secure her husband’s release, emphasizing his potential as a partner for peace. Trump has indicated he is considering the matter. The Elders urged global leaders to seize this opportunity to enhance the prospects of lasting peace and security in the region.