https://english.almayadeen.net/news/economics/bank-of-england-announces-biggest-interest-rate-hike-since-1

Bank of England announces biggest interest rate hike since 1995

In an effort to combat the highest inflation rates in 40 years, the Monetary Policy Committee of the Bank of England (BoE) raised interest rates in the UK by 0.5 percent on Thursday, moving them from 1.25 percent to 1.75 percent. The Bank also updated its forecast, suggesting that rates will eventually reach 13 percent before declining.

The bank added that the United Kingdom faces a year-long recession from the fourth quarter.

Since Gordon Brown gave Threadneedle Street authority over interest rates in 1995, this widely anticipated hike represents the largest single increase in rates. Rates hitting 1.75% also marks their highest point since the global financial crisis in 1995.

Prior to the rate increase, Rightmove predicted that an increase of 0.5% would result in new first-time buyers' monthly mortgage payments rising to an average of 40% of their gross income, a level not seen since 2012. For new first-time buyers, the typical mortgage payment would rise to more than £1,000.

“First-time buyers trying to get onto the ladder are currently facing average monthly mortgage payments that are 20% higher than the start of the year due to rising interest rates and asking prices, and that’s assuming they’ve been able to overcome the hurdles to raise a large enough deposit,” said Tim Bannister, Rightmove’s Housing Expert.

He added that a new record first-time buyer asking price of £224,943 means that a 10% deposit for such a property is now “57% higher than it was ten years ago, while average salaries have only increased by 31%”.

However, Nathan Emerson, CEO of Propertymark, was less concerned:

“Buyers will be watching interest rates very closely, but the gradual nature of their upward trajectory from a historically low base is unlikely to be a factor that on its own has too much of an effect on the confidence of those who are serious about moving.

This is borne out by our own data which shows potential buyers registering with our member agents have outnumbered new property listings throughout the first six months of the year, and by seven to one in June alone. During the same period the Monetary Policy Committee has raised the base rate four times.”

Homebuyers were cautioned by Cecilia Mourain, Managing Director for Homebuying at Moneybox, to keep such rate increases in perspective. She added that while they can appear "daunting," there was a big fall in rates in 2020, and rates are still in line with the 10-year average.

“Where possible, aspiring homeowners need to dissociate as much as possible from what’s happening in the very short term, and try to focus on the long term benefits of home ownership. There will always be periods of recessions and then periods of growth, the key is to be in it for the long term,” she added.

On Wednesday, it was also made public that Liz Truss, one of the two remaining contenders for the position of future prime minister, had stated that, if elected, she would want to give the Bank authority over inflation. She claimed that “the best way of dealing with inflation is monetary policy… I want to change the Bank of England’s mandate to make sure in the future it matches some of the most effective central banks in the world at controlling inflation”.

https://english.almayadeen.net/news/politics/us-senate-votes-95-to-1-on-sweden-finland-nato-accession

US Senate votes 95 to 1 on Sweden, Finland NATO accession

The US Senate voted 95 to 1 to ratify Finland and Sweden's NATO application to join the alliance on On Wednesday, reaching the two-thirds threshold needed for approval.

In order for the applications to be accepted, all 30 NATO members must unanimously approve the application. Both countries have been neutral for decades before applying for membership, which was instigated after the war in Ukraine started.

Helsinki and Oslo were on their way to joining NATO before Turkey decided to use its veto power, enforcing its conditions.

After the Senate vote, Biden's administration will formally submit US approval for the accession. Josh Hawley, a Republican senator, was the only one to vote against the measure.

After the vote, Biden praised the vote, describing it as "the fastest Senate process for a NATO protocol since 1981."

"This historic vote sends an important signal of the sustained, bipartisan US commitment to NATO, and to ensuring our Alliance is prepared to meet the challenges of today and tomorrow," Biden said.

"I look forward to signing the accession protocols and welcoming Sweden and Finland, two strong democracies with highly capable militaries, into the greatest defensive alliance in history," he added.

This month, a new "permanent committee" assembled by Turkey will meet with Finnish and Swedish officials to review whether the two countries are meeting Ankara's conditions for ratifying their NATO membership aspirations.

Turkey has been threatening to halt the accession process

Turkish President Recep Tayyip Erdogan has threatened to "halt" the accession process if Sweden and Finland do not extradite the accused. He accuses them of harboring outlawed Kurdish militants.

"If these countries are not implementing the points included in the memorandum that we signed, we will not ratify the accession protocol," Foreign Minister Mevlut Cavusoglu reaffirmed in a televised interview.

Ankara threatened to stall the process of Sweden and Finland joining NATO. Turkish President Recep Tayyip Erdogan stressed, "I repeat once again that if our demands are not met the process will be slowed down. We see that especially Sweden does not show the proper reaction."

On June 15, Turkey rejected NATO's offer to hold trilateral talks with Finland and Sweden. On July 10, Sweden made a list of 10 Kurdistan Workers' Party (PKK) members to extradite to Turkey following the signature of a memorandum in Madrid.

>> Interesting number

Those who scream the loudest

>>17010331

Birds of a feather…

https://english.almayadeen.net/news/politics/israeli-media:-ministers-informed-of-possible-delay-in-gas-e

Israeli media: Ministers informed of possible delay in gas extraction

Israeli media reported on an Israeli security meeting held to discuss the indirect negotiations with Lebanon regarding territorial waters and the Karish gas platform, revealing that Israeli ministers were informed that gas extraction from the Karish platform might be delayed.

Israeli Channel 13 said Hezbollah's threats regarding the Karish platform and negotiations on the maritime borders between "Israel" and Lebanon were widely discussed in a very long presentation.

The due date for gas extraction from the Karish platform is in September.

According to the Israeli channel, there was also an important discussion over Lebanon and Hezbollah, in terms of differentiating between Lebanon and Hezbollah or not.

Channel 13 said the Israeli security officials warned the Israeli security cabinet that an escalation with Hezbollah is likely if an agreement is not reached with Lebanon.

Israeli media said that "Tel Aviv" was pressuring the US to reach an agreement with Lebanon before September, the date when the extraction of oil from the Karish platform starts.

The media quoted security sources as saying that the United States would propose a settlement regarding the maritime border demarcation negotiations and that the final decision would be this week.

Israeli official: Border agreement with Lebanon is complete surrender

Israeli media quoted Tuesday a senior Israeli official in the gas sector as saying that the maritime border demarcation agreement that is taking shape with Lebanon is a complete surrender by "Israel".

The official was quoted by Yinon Magal, a journalist for the Israeli Channel 14, on his Twitter account.

The Israeli official considered that the agreement is a complete surrender by Israeli occupation Prime Minister Yair Lapid and Israeli Security Minister Benny Gantz to Lebanon, noting that "Israel's" submission is a great victory for Hezbollah Secretary-General Sayyed Hassan Nasrallah.

The official warned that if "Israel" conducts similar negotiations on other matters, the situation will be very worrying.

Lebanon rejects Israeli offer on demarcation of borders

A Lebanese diplomatic source confirmed on Monday that Lebanon "rejected an Israeli offer to give Beirut part of Block 8 north of Line 23", in exchange for "Israel's relinquishment of the Qana gas field."

The source told the Russian news agency Sputnik that "the Israeli offer includes Israel's relinquishment of the Qana field in return for Line 23, minus an area that must be ceded located north of the line, specifically the southwestern part of Block 8."

The source explained that "the Israeli offer was rejected by Beirut," adding that "Lebanon stuck to its right in the Qana field and refused to give up any square meter in Block 8."

Al Mayadeen's correspondent confirmed Monday that Hochstein's meeting with the three heads of political power in Lebanon ended and no final result was reported, noting that "no agreement has been reached yet, but only talks about the need for more time."

Lebanese sources told Al Mayadeen's correspondent that the US mediator wants to reach a quick solution before summer ends and that the atmosphere was positive.

A couple of days ago, "Israel" submitted a proposal to the United States, and senior Israeli officials said that "Israel's position entails confirmation that it is ready to offer concessions regarding the disputed area with Lebanon, but it will not offer any concessions outside the disputed area."

Yediot Ahronoth also claimed that the Israeli occupation is optimistic about the maritime border negotiations with Lebanon.

It is noteworthy that the military media unit of the Islamic Resistance in Lebanon had published a video displaying footage of the drillship and the floating production unit alongside information pertaining to the specifics of their geolocation, giving their coordinates and information regarding the origin and details of the ships at sea based on the flags they bear. Moreover, the video displayed the exact distance of each ship from Lebanese shores.

>>17010343

Same club

>>17010479

>>17010467

Check out W post 951

>>17010502

Sorry, my bad, Typo. It's Qpost 951

>>17010480

>>17010514

>>17010524

It will get worse sir as we reach the finale. thank you for your hard work.

>>17010537

this has nothing to do about finland. you are a great froggy. we are being told it's going to get crazy. the madness is going to start, everywhere. what comes after march? = april, right? april showers, bring…

https://english.almayadeen.net/news/politics/parts-of-damaged-port-silos-collapse-on-beirut-blast-anniver

Parts of damaged port silos collapse on Beirut Blast anniversary

Several more grain silos damaged by the 2020 Beirut port explosion collapsed Thursday, as hundreds marched toward them to mark the second anniversary of the disaster, which destroyed the city and killed over 200, and injured more than 6,500.

AFP correspondents saw parts of the gutted structure fall down, while local media said at least four towers had collapsed, only days after a similar incident.

Experts had been warning for days that the silos could collapse imminently after recording unprecedented inclination rates.

Beirut's grain silos partially collapse after burning for 2 weeks

On Sunday, Beirut port's grain silos partially collapsed. Clouds of dust covered the port area as the silos collapsed - local media reported that 2 towers from the northern section of the silos fell, knowing that a fire has been burning there for more than 2 weeks.

The Minister of Public Works and Transport in the Lebanese caretaker government, Ali Hamie, said that two silos had collapsed from the northern side. The total number of grain silos is 40, and the minister said he expected most of the silos to collapse.

Hamie pointed out that the collapse of the two silos today was "expected according to government technical reports," and he also suggested that "most of the other silos" would collapse in succession.

The Lebanese Minister told Al Mayadeen that the army is using helicopters to extinguish the collapsed silos, adding that there is no fear of toxic emissions, explaining that the government is about to "assign technical committees to examine the silos again."

Hamie said the silos structure building is no longer considered a crime scene as per a judicial decision, stressing, "We are determined to rebuild it."

Much of the explosion's impact was absorbed by the structure on August 4, 2020. The explosion, two years back, was caused by tons of ammonium nitrate fertilizers catching fire.

Two weeks ago, a fire erupted in the northern part of the silos due to the fermentation of the remaining grain stocks, exacerbated by scorching weather temperatures, according to authorities.

Najib Mikati, Lebanon's caretaker Prime Minister, had warned that the silos would soon fall.

He warned workers, civil defense members, and firefighters to keep their distance from the location while keeping the army on alert.

The silos, which hold a capacity of over 100,000 tons, have become a symbol of the Beirut explosion.

In April, the Lebanese government ordered that the premises be demolished, however, it was suspended due to objections, especially from the families of the victims who demand turning the silos into a memorial site of the catastrophe.

The authorities were not able to extract the 3,000 tons of wheat and corn that were stuck in the silos, since the move would probably accelerate the collapse.

The ministries of environment and health warned the public to evacuate the port area and wear masks in case the silos collapse.

Hezbollah calls for depoliticized investigation in Beirut blast

Earlier today, Hezbollah expressed once again its condolences to "the families of all martyrs, Christians, and Muslims, Lebanese and non-Lebanese," as well as the wounded and their families, most notably those who are still in hospitals, on the second anniversary of the tragic explosion at the port of Beirut.

In a statement, Hezbollah reaffirmed its stance, calling for a just investigation into the Beirut port blast which is based on legal principles and away from any political and sectarian bias.

>>17010607

1 klik away.

Is this related to post 1000?

>>17010712

the tunnels date back to roman times, they are ancient. everyone knows about them. hezbollah isn't stupid to load weapon or amo shipments in an open space where anyone from tall buildings in the vicinity can take pictures with a high tecn camera.

also if I remember right, there was an agreement signed enabling UN to check cargo of every single ship which comes to the port.

no one talks about bibi's comments about it which were put on skynews for around 10 to 15 min then it was retracted.