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Eastern Herald

Economy / Eastern Herald

Palestinian Economy at Breaking Point as Israeli Banks Sever Correspondent Ties

Two of Israel's largest commercial banks are severing Palestinian correspondent-banking ties this autumn, with Discount Bank exiting September 1 and Hapoalim following in October. Palestinian monetary authorities warn formal financial channels will collapse with no activated fallback in place.

24 Jul 2026 2:10 am
Sudan War Economy Profits Warring Factions, UN Rights Office Warns

The UN rights office warned Sudan's civil war has produced a self-sustaining war economy giving both warring factions incentives to keep fighting. A new OHCHR report found Sudan's gum arabic trade, once 70 percent of global supply, has been looted by the Rapid Support Forces.

15 Jul 2026 4:48 pm
June Jobs Report: US Economy Added Only 57,000 Payrolls, Half of What Was Expected

The US economy added just 57,000 jobs in June, roughly half of analyst predictions, as leisure and hospitality shed 61,000 positions and prior months were revised down by a combined 74,000, a figure that challenges the White House narrative of post-conflict labor market recovery.

3 Jul 2026 6:45 pm