RIYADH: 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. The militants also took 222 people hostage, among them elderly people and young children, according to the Israeli authorities' latest count. Saudi Arabia has in recent weeks condemned violence against civilians in Gaza and affirmed its support for the Palestinian cause. This has been the fastest rate increase since the early 1980s and has caused significant and unpredictable disruptions," he said. Yet he voiced optimism that "even in a high interest rate environment, we can see the acceleration of growth and productivity."

Source: Manila Times October 25, 2023 11:15 UTC