Pakistan

Allies to Restraint, as Israel Vows to Respond to Iran’s Unprecedented Drone Attack

Tensions remain high in the Middle East as we wait to see if Israel will respond to the Iranian drone bombing this weekend. President Biden said that even if the U. S. commitment to Israel were unwavering, the administration would not launch a retaliatory strike. Nick Schifrin reports.

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British company ASOS suffers losses in the first half of the year

British online fashion retailer ASOS posted losses in the first part of the year due to Chinese giant Shein’s festival and the disruption it has caused itself due to excess inventory, but said it still expects an improvement throughout the year. ASOS also on Wednesday appointed former Sainsburys and Amazon executive Dave Murray as chief financial officer, saying his experience in retail and e-commerce would bring the company back to profitability, Reuters reported.

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U. N. Says Responses Exist to Temporarily Ease Debt Burden on Deficient Countries

The heavy debt burden of emerging countries can be alleviated by available measures, the UN’s industry and progress leader said, calling for ambitious external action. Rebeca Grynspan likened the debt burden faced by poorer countries to “an opposite blood transfusion,” where cash flows “from those who want it to those who don’t. “In 2022, the newest year for which transparent statistics are available, emerging countries “paid about $50 billion more to their external creditors than they earned. into new disbursements,” UNCTAD said in a recent report.

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