JPMorgan has sharply lowered its fourth quarter economic forecast for Israel. According to a research note made public on Friday, the country’s gross domestic product (GDP) may shrink 11% from the previous three months amid the escalation of hostilities with the Palestinian armed group Hamas.

The Islamic Republic has been seeking to enhance its position on the global energy market Tehran has proposed creating a regional gas hub within the Shanghai Cooperation Organization (SCO) to ensure energy security, Fars news agency reported this week, citing the Islamic Republic’s first vice president.

Boris Pistorius cited the Russia-Ukraine conflict as well as the Middle East escalation as among the threats to the continent A new war in Europe is no longer unthinkable and German society must adapt to this reality, Defense Minister Boris Pistorius has claimed as he called for increased military spending.