International
Israel-Hamas war risks ‘serious’ economic damage: World Bank president
The conflict between Israel and Hamas, as stated by the World Bank President at a Saudi investor conference, has the potential to significantly impact global economic development.
![](https://gutzymedia.s3.ap-northeast-2.amazonaws.com/wp/2023/10/17062343/33Y33X4-preview-1-2.png)
RIYADH, SAUDI ARABIA — The war between Israel and Hamas could deal a “serious” blow to global economic development, the president of the World Bank told an investor conference in Saudi Arabia on Tuesday.
“What just happened recently in Israel and Gaza — at the end of the day you put all this together, I think the impact on economic development is even more serious,” Ajay Banga said, adding: “I think we’re at a very dangerous juncture.”
Hamas militants stormed into Israel from the Gaza Strip on October 7 and killed at least 1,400 people, mostly civilians who were shot or burnt to death on the first day of the raid, according to Israeli officials.
The militants also took 222 people hostage, among them elderly people and young children, according to the Israeli authorities’ latest count.
The hostages include dozens of dual nationals and foreigners. More than 5,000 Palestinians, mainly civilians, have been killed in retaliatory Israeli bombardments of Gaza, according to its Hamas-run health ministry.
Banga was speaking at the annual Future Investment Initiative, often referred to as “Davos in the Desert”.
More than 6,000 delegates are registered for the three-day event that will feature appearances by global banking chiefs and the presidents of South Korea, Kenya and Rwanda, organisers say.
The violence in Israel and Gaza stands in stark contrast to the vision of a more stable and prosperous Middle East championed by Saudi Arabia, which this year rebuilt ties with Iran and was in talks towards recognising Israel before the fighting broke out.
— AFP
![](https://gutzy.asia/wp-content/uploads/2023/10/Gutzy-Logo-whiteS.png)
-
Politics1 week ago
Jamus Lim on Minister Chee Hong Tat’s remarks on fiscal policy: Calls for genuine debate over rhetoric
-
Politics2 weeks ago
SM Lee: Singaporeans must ‘change attitudes’ as Govt promises ‘bold and necessary changes’
-
Community1 week ago
Toast Box faces backlash and boycott calls amid price increases
-
Media7 days ago
Notice to Our Readers: Moving Back to The Online Citizen
-
Singapore1 week ago
Singapore introduces new scheme in April 2025 offering up to S$6,000 in financial support for retrenched workers
-
Politics1 week ago
Jamus Lim raises concerns over high cost of living and its impact on Singaporeans’ sense of belonging
-
Opinion1 week ago
Chee Hong Tat’s call for fiscal prudence rings hollow amid contradictory government spending
-
Singapore1 week ago
Tan Suee Chieh: Sacrificing NTUC Income’s values for short-term gains undermines its foundation
End Of IS-RA-EL, The Corporation, Lease Of Land Ends October 31st, 2023. A Leasehold “Israel Corporation”.
https://t.me/billiebeene/1034