Morning Briefing: May 3, 2024

ISTANBUL

Here is a rundown of all the news that you need to start your Friday with, including Türkiye's suspension of all trade operations with Israel, the US intelligence chief saying the Russia-Ukraine war is unlikely to end anytime soon and the Palestinian death toll nearing 34,600 as Israel continues to pound Gaza.

TOP STORIES

Türkiye suspends all trade operations with Israel until uninterrupted flow of humanitarian aid to Gaza allowed

In the second phase of restrictive measures, Türkiye suspended all export and import operations with Israel due to its "aggression against Palestine in violation of international law and human rights," the Turkish Trade Ministry announced late Thursday.

Previously, Türkiye restricted 54 product categories' exports to Israel on April 9, the ministry recalled, saying that despite this measure, it is observed that the Israeli government continued its aggressive stance and the humanitarian tragedy in Palestine has worsened.

Russia-Ukraine war 'unlikely to end anytime soon': US intelligence chief

The Russia-Ukraine war is "unlikely to end anytime soon," a US intelligence chief said Thursday.

"By targeting critical infrastructure, Moscow aims to create logistical hurdles that impede Ukraine's ability to move forces and supplies to the front, slow Ukrainian defense production and build pressure for Kyiv," said National Intelligence Director Avril Haines during a Senate hearing on "worldwide threats.”

“Russian forces are also striking Ukrainian military logistics to interdict supplies to the front, slow defense production, and further pressure Ukraine to consider pathways out of the war, such as through negotiations, even though the Kremlin has shown no willingness to make any concessions in good-faith negotiations," she said.

Palestinian death toll nears 34,600 as Israel continues to pound besieged Gaza

The Palestinian death toll surged to 34,596 as Israel continued its deadly offensive on the Gaza Strip, the Health Ministry in the enclave said Thursday.

The ministry added that 77,816 people had been injured in the onslaught.

“At least 28 Palestinians were killed and 51 others injured in Israeli attacks in the last 24 hours,” it said.

NEWS IN BRIEF

• The US urged Israel to take steps to prevent attacks on aid convoys after Israeli settlers attacked a shipment from Jordan, calling the attacks "unacceptable.”
• NATO expressed concern over Russia’s hybrid activities on allied territory.
• A group of more than 30 NGOs has called on the German government to immediately stop arms exports to Israel and undertake stronger diplomatic efforts to achieve a cease-fire in Gaza.
• The US said it is "very close" to reaching an agreement with Saudi Arabia on the bilateral aspect of the wider Israel normalization deal.
• The White House said that US President Joe Biden was "very clear" when he called close allies Japan and India "xenophobic," lumping them in with American adversaries Russia and China.
• The death toll of Gaza's health workers in the ongoing Israeli onslaught reached 496 following the killing of Dr. Adnan al-Bursh in Israel’s Ofer prison.
• Türkiye’s parliament rejected the adoption of a resolution regarding Assyrians and Chaldeans by the French National Assembly.
• Finland and Sweden expressed full support for Türkiye's fight against terrorism as delegations from the three countries met in Helsinki.
• Italy condemned the use of force against people protesting for weeks against the “foreign influence” bill in Georgia’s capital Tbilisi.
• Russia said it took control of another village in Ukraine’s Donetsk region.
• The Philippines summoned China’s envoy in Manila to protest “harassment, ramming, swarming, shadowing and blocking dangerous maneuvers” in the disputed South China Sea.

SPORTS

PSG's French defender Lucas Hernandez may miss EURO 2024

French Ligue 1 club Paris Saint-Germain's French defender Lucas Hernandez may miss EURO 2024.

In a statement, PSG announced that Hernandez, who came off injured during Wednesday's UEFA Champions League semifinal clash against Borussia Dortmund, suffered a torn anterior cruciate ligament in his left knee.

An MRI scan confirmed the diagnosis made by the club's doctors and the 28-year-old will undergo surgery in the next few days, the statement added.

IOC names Refugee Olympic Team for Paris 2024

The International Olympic Committee (IOC) named the largest-ever IOC Refugee Olympic Team Paris 2024, which has 36 athletes.

"Congratulations to all of you. We welcome you, the IOC Refugee Olympic Team with open arms and open hearts," IOC President Thomas Bach said after introducing the team in a ceremony held in Lausanne, Switzerland.

"You are an enrichment to our Olympic Community, and to our societies.

ECONOMY & BUSINESS

Microsoft announces $2.2B investment in cloud, AI services in Malaysia

Microsoft announced a $2.2 billion investment in artificial intelligence and cloud infrastructure for Malaysia's digital transformation over the next four years.

The announcement was made as Microsoft Chairman and CEO Satya Nadella met Malaysian Prime Minister Anwar Ibrahim in Kuala Lumpur.

Anwar said the investment “proves confidence in the country's strong economic base and clear and focused policies in addition to investor friendliness and political stability.”

Oil increases after recording 3% price plummet

Oil rose after prices plummeted 3% to record the lowest closing price of the last seven weeks following the US Federal Reserve’s decision to keep interest rates unchanged on Wednesday.

International benchmark Brent crude traded at $84.11 per barrel at 10.50 a.m. local time (0750GMT), an increase of 0.80% from the closing price of $83.44 per barrel in the previous trading session.

American benchmark West Texas Intermediate (WTI) crude traded at $79.66 per barrel at the same time, a 0.83% rise from the previous session that closed at $79 per barrel.