Morning Briefing: Nov. 9, 2024

ISTANBUL

Here’s a rundown of all the news you need to start Saturday, including Trump’s plan to intensify a "maximum pressure" campaign against Iran; the Pentagon indicating that the military is ready to carry out the lawful orders of the Trump administration and South Korea firing a ballistic missile after Pyongyang’s missile launches.

TOP STORIES

• Trump plans to intensify 'maximum pressure' campaign against Iran: Report

US President-elect Donald Trump is planning to intensify a “maximum pressure” campaign against Iran to curb its oil exports and restrict its influence in the Middle East, according to a report.

The Wall Street Journal (WSJ) reported that Trump’s first-term policies included withdrawing from the Joint Comprehensive Plan of Action -- a multinational agreement designed to limit Iran’s nuclear capabilities.

"I think you are going to see the sanctions go back on, you are going to see much more, both diplomatically and financially, they are trying to isolate Iran," a former White House official told the WSJ. "I think the perception is that Iran is definitely in a position of weakness right now, and now is an opportunity to exploit that weakness."

• US military ready to carry out lawful orders of Trump administration: Pentagon

The US military is ready to carry out “all lawful orders” of the incoming administration of President Donald Trump, according to the Pentagon.

In a message to the military, Defense Secretary Lloyd Austin emphasized that the Pentagon will make a "calm, orderly and professional transition" to the next commander in chief, spokeswoman Sabrina Singh told reporters.

Austin "reiterated that the US military will stand ready to carry out the policy choices of its next commander in chief and to obey all lawful orders from its civilian chain of command to defend the United States, our Constitution and the rights of all American citizens," she added.

• South Korea fires ballistic missile after Pyongyang’s missile launches

In a tit-for-tat move, South Korea fired a ballistic missile, the military said, days after North Korea fired several short-range ballistic missiles.

South Korea’s Joint Chiefs of Staff (JCS) said in a statement that the military fired a Hyunmoo-II surface-to-surface ballistic missile into the Yellow Sea.

It said the missile was launched in the western coastal county of Taean, 108 kilometers (67 miles) southwest of Seoul.

NEWS IN BRIEF

• Palestinian President Mahmoud Abbas spoke with US President-elect Donald Trump, expressing a willingness to work with him to achieve peace.
• Russian and Ukrainian ombudspersons met in Belarus to discuss humanitarian cooperation, said Russian Human Rights Commissioner Tatyana Moskalkova.
• The death toll in Al-Hilaliya, a city in Sudan's central Al Jazirah state, has risen to more than 200 following two weeks of an ongoing siege and attacks by the Rapid Support Forces (RSF) paramilitary group.
• EU leaders emphasized the urgent need to implement a new European competitiveness strategy.
• Iranian authorities said a soldier and four militants were killed during a security operation in southeastern Sistan-Baluchestan province.
• Japan's Meteorological Agency warned of the increasing risk of landslides and floods from "extremely heavy rain" in southern Japan.
• German Chancellor Olaf Scholz expressed an openness to discuss an earlier date for elections with the opposition, dependent on reaching an agreement to pass key legislation this year.
• The Finnish government offered to establish a base on its territory for NATO's big Recon reconnaissance drones.
• The European Commission notified China-based online marketplace, Temu, of alleged practices that infringe EU consumer laws.
• Ireland will hold parliamentary elections during the last week of the month, the prime minister announced.
• Russian President Vladimir Putin remains open to talks with US President-elect Donald Trump, said Kremlin spokesman Dmitry Peskov.
• The UN refugee agency said 71% of those fleeing to Chad reported having survived human rights violations, describing the levels of trauma among the refugees as "devastating."
• Turkish President Recep Tayyip Erdogan said there is no other war where women and children have been directly targeted as much as in the genocide in Gaza.
• Israeli forces destroyed a newly-built health care center along a road connecting Ras al-Ain and Naqoura in southern Lebanon in an airstrike, killing a local paramedic.
• Turkish security forces “neutralized” 16 PKK/YPG terrorists in northern Iraq and Syria, according to the National Defense Ministry.
• At least two people were confirmed dead while the search for 12 continued after a fishing boat sank off South Korea.

SPORTS

• Chelsea to meet Arsenal in Sunday's London derby

Chelsea will play city rivals Arsenal in Sunday's London derby in the English Premier League.

Chelsea and Arsenal played their European Cup matches earlier this week.

Rampant Chelsea hammered underdogs Noah Yerevan 8-0 in a UEFA Conference League match Thursday in London; Arsenal lost at Inter Milan 1-0 in a UEFA Champions League match at San Siro Stadium.

BUSINESS & ECONOMY

• Russia's gold reserves exceed $200B for 1st time

Russia's gold reserves exceeded $200 billion for the first time in October, while the share of gold in the country's international reserves increased to 32.9%.

The country's international reserves, however, fell from $633.7 billion in September to $631.6 billion in October, according to data compiled by Anadolu from the figures of the Central Bank of the Russian Federation.

The country's gold reserves hit $207.7 billion in October, with gold accounting for 32.9% of the total -- the highest since January 1993.

China approves bill to increase local government debt limit by $837.8B over 3 years

• China approved a bill to increase the debt limit of local governments by 6 trillion yuan ($837.8 billion) over three years, from 2024 to 2026, the South China Morning Post (SCMP) reported.

The debt limit increase will be spread out over three years, or 2 trillion yuan ($279.2 billion) a year, Finance Minister Lan Foan said at the Standing Committee of the National People’s Congress (NPCSC) in Beijing.

The increase will be in place instead of existing hidden debts, which will benefit local governments, according to the newspaper.