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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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How the Israel-Hamas war is affecting global markets



The ongoing war between Israel and Hamas has not only caused a humanitarian crisis in Gaza, but also sent shockwaves across the global markets. Investors are worried about the potential escalation of the conflict and its impact on oil prices, trade, tourism and regional stability.

According to CNN, the US has sent a second aircraft carrier strike group to the eastern Mediterranean, saying it is "to deter hostile actions against Israel or any efforts toward widening this war following Hamas's attack". The US has also warned other countries not to intervene in the conflict, such as Iran and Hezbollah.

The war has also affected the Israeli economy, which was already struggling with the Covid-19 pandemic. The Bank of Israel said that the war could reduce the country's GDP growth by 0.5 percentage points this year, depending on its duration and intensity. The tourism sector, which accounts for about 7% of Israel's GDP, has been hit hard by the cancellation of flights and bookings.

Meanwhile, the Gaza Strip, which is under a blockade by Israel and Egypt, faces a dire humanitarian situation. The World Health Organization has condemned Israel's order to evacuate 22 hospitals in northern Gaza that are treating more than 2,000 inpatients. The UN has also warned of a looming food crisis, as more than half of Gaza's population is food insecure.

The war has also rattled the global oil markets, as the Middle East is a major producer and exporter of crude oil. According to Reuters, Brent crude futures rose by more than 2% on Friday, reaching $85.62 a barrel, the highest level since October 2018. Analysts say that any disruption to oil supplies from the region could trigger a spike in prices and inflation.

The war has also affected the stock markets around the world, as investors seek safe-haven assets such as gold and bonds. According to Bloomberg, the MSCI World Index, which tracks shares in 50 countries, fell by 0.6% on Friday, while the S&P 500 Index dropped by 0.8%. The volatility index, which measures market fear, rose by 16%.

The war between Israel and Hamas shows no sign of abating, as both sides exchange fire and reject calls for a ceasefire. The international community is trying to broker a diplomatic solution, but so far without success. The war poses a serious threat to global peace and security, as well as to the economic recovery from the pandemic.

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