NORAD tracked Santa Claus on Christmas Eve, just as it has for the past six decades, as he made his way across the country.
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By Leika Kihara
TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said on Monday the likelihood of achieving the central bank’s inflation target was “gradually rising” and it would consider changing policy if prospects of sustainably achieving the 2% target increase “sufficiently”.
While companies are becoming more open to raising wages and prices, the key is whether wages will continue rising next year and lead to further increases in service prices, Ueda said.
“If the virtuous cycle between wages and prices intensifies and the likelihood of achieving our price target in a sustainable and stable manner rises sufficiently, we will likely considering changing policy,” Ueda said, offering the clearest sign to date of the chance of ending ultra-easy monetary policy.
Ueda said the BOJ had not decided on a specific timing to change the loosest monetary stance of any major central bank, due to uncertainties over economic and market developments.
“We will carefully examine economic developments as well as firms’ wage- and price-setting behaviour, and thereby decide on future monetary policy in an appropriate manner,” he said.
The language differed slightly from Ueda’s usual phrase calling for the need to “patiently” maintain ultra-loose policy for the time being.
The Japanese government bond market shrugged off Ueda’s remarks, with yields falling as the BOJ conducted a regular bond buying operation across the curve.
With inflation exceeding the target for well over a year, many market players expect the BOJ to lift short-term interest rates out of negative territory next year, with some betting on higher rates as early as January.
Ueda said Japan’s prolonged experience of low inflation and stagnant wage growth likely heightened public perceptions that prices and wages would remain stuck around zero.
Changing such perceptions and creating a cycle in which wages and prices rise in tandem would have benefits such as leading to more efficient allocation of labour, he said.
Achieving positive inflation will also push up nominal interest rates and give the central bank room to substantially lower rates when needed to prevent the economy from slipping back to deflation, Ueda said.
He pointed to recent progress, such as a gradual acceleration in service inflation and signs of change in the way companies set prices and pay.
“The likelihood of Japan’s economy getting out of the low-inflation environment and achieving our price target is gradually rising, though the likelihood is still not sufficiently high at this point,” Ueda said.
“Since there are extremely high uncertainties surrounding the economy and prices at home and abroad, it’s necessary to examine how firms’ wage- and price-setting behaviour will change,” he added.
(Reporting by Leika Kihara; Editing by William Mallard)
Cousin of Hamas Hostage Carmel Gat Expresses Fears of Abuse in Gaza
Ever since Hamas attacked Israel on Oct. 7 and took more than 240 hostages back to the Gaza Strip, Jerusalem-based medical student Shay Dikman has spent her days worrying about her cousin, Carmel Gat, who was last seen being taken captive by the Hamas terrorists who stormed Kibbutz Be’eri.
Based on stories heard from the released hostages, Dikman said there is grave reason to worry about the conditions in which her cousin and the other captives are being held, and it is the world’s responsibility to return all the hostages home.
Dikman spoke with The Media Line about her deep concerns for her cousin’s mental and physical health and her worries about whether she is being fed, and, especially, whether she has been sexually abused.
She also discussed how international humanitarian organizations have neither inquired about the conditions in which her cousin is being held, nor reached out to her family.
The Media Line: It has been two months since Carmel was kidnapped. What have you heard about her abduction from the Israeli government and from other hostages who might have seen her?
Shay Dikman: Yes, it’s true. Carmel was kidnapped from her parents’ house on October 7. And since then, we’ve heard from hostages who have been released that they were with her together. We were actually glad to hear that she was not alone.
We heard from them something that we were very excited to hear. She was actually having yoga sessions with them. She was practicing with them. She was doing whatever in her power to make herself and them as safe as possible in this horrible situation where her mental state and physical state are in question.
We were really glad to hear at least that the powers that she has inside her were able to make her stronger and give this strength to others as well.
TML: That says a lot about her. And I know this is very difficult to ask, but as the days keep passing, what is your greatest fear?
Shay Dikman: I feel a lot of fear inside me. I’m worried about her mental health. I’m worried about her physical health. 76 days, 77 soon. In 77 days, I found out what happened in Kibbutz Be’eri, and I found out about people who I knew were dead, and I found out that other relatives of mine had been kidnapped. Some of them, such as Yarden [Roman-Gat, sister-in-law of Carmel Gat], were even released, and so much has happened since, and I just can’t imagine what Carmel has been through in 77 days.
I know that the hostages that have been released were not eating well. They were not fed well. We know that the women might have been touched, and this is my deepest fear about Carmel, that she will be scarred mentally because of being abused there. I’m worried every day that passes.
I’m thinking about her when I’m going to sleep. I think about who is next to her when she’s asleep. When I go to the toilet and I lock the door, after hearing what Yarden who came back from there, her sister-in-law, was saying, that she was not alone for one moment, I’m thinking, is she safe? Is someone keeping her safe for us?
TML: Now that you mentioned Yarden, she was recently released by Hamas and came back to your family. Can you share with us some things that she shared with you that give you hope, and some things that concern you, particularly being a woman in Gaza?
Shay Dikman: At the beginning of October 7, my heart locked up. So much horror, so much disaster, so many horrible things that happened to everybody I knew, and I just shut down. But then, when the [hostage release] deal started, and when people came back safe, not in the best physical situation, and some of them also [in a poor mental situation] but [at least] they came, some of them alive. It gave me so much hope.
When Yarden came [home], it was amazing. Her daughter got her mother back. Geffen, her daughter, is three and a half years old, and she was kidnapped with her, and she managed to escape with her father [Alon Gat] alone. But Yarden was left and dragged into Gaza. Geffen has been through it. She has been through the kidnapping. And she knew that her mother was still held there. And you need to explain to a three-and-a-half-year-old girl that her mother was taken by, we told her, bad people. And we managed to tell her that she is alive, and she is back. The difference between the Friday meal before Yarden came back and after, you can’t believe what it made to our family.
But their happiness is not whole. Then speak about experiences from her captivity. You can see it also in an interview that she gave. The one moment when she broke [down] was with the hope that Carmel would come back the day after Yarden came back. We were certain that the next day, Carmel was going to come back to us. I was looking out for a yoga mattress. I wanted her to have it the moment she’s back, and I was at her house in Be’eri. The house is shattered, but some of the things are still kept safe. I put aside some stuff for her. I knew in my heart that she would get them. I was sure that she was going to be here the next day, and I’d be able to hug her and give her stuff, and give her a feeling of home even though there was no house to come back to.
Then the deal was canceled. Hamas did not stand for the[ir] word, and we did not get Carmel back.
Since then, I’ve been waiting. Since the moment we heard that the hostages were released, Carmel was with them and practicing yoga. Three weeks have passed, and I’m still waiting. I’m waiting for the next deal.
TML: Was Yarden being kept with Carmel at any point?
Shay Dikman: No, they did not see each other. Carmel was kidnapped out of her parents’ house. First, her mother was taken. Her father saw her mother taken from the window of the toilet where he was hiding. Before they took her mother, she managed to tell him [to be silent] with her finger over her lips and told him to run away. He hid in the toilet and from the window of the toilet, he saw his family members taken, one after the other, by terrorists.
We found out later from videos that Kinereth, my aunt and Carmel’s mother, was murdered on the pavement in front of her house. And then when Carmel was taken, she probably saw her mother shot. So as far as she knows, her mother is dead. Her father, her brother, the wife of her brother, her niece. She does not know what is going on with them. Even the hostages who were staying with her were taken from her and she doesn’t know that they are alive and that they came back to Israel safe.
I’m afraid that she thinks that she is left there and that we all have forgotten about her, that we do not know that she is alive. She doesn’t know that we are still alive. She does not know that the Israeli people are fighting for her, and she does not know that the world is fighting for her life.
TML: Can share with us some of the stories that Yarden shared with you so that people can understand what it’s like to be in Hamas captivity?
Shay Dikman: What Yarden said about her experience in captivity is the feeling of constant fear and constant worry. She says that being in a war zone is frightening, and she says that she was being watched 24/7. She was there for 55 days, and 24/7 guards were looking at her. Every single moment was a risk for her life for her safety, and as a woman, in fear for her body, for the wholeness of her body. This feeling is something that, as a woman, I cannot even imagine. Being in the hands of strangers, of the enemy, of someone who took you from your house and separated you from your family, who doesn’t give you enough food, and doesn’t let you go back to where you belong.
It must end for Carmel and for all the other hostages. They have to come back home, and we owe it to them as humanity.
TML: Has anyone from the Red Cross or any other international humanitarian organization reached out to you?
Shay Dikman: I do not know if Carmel is looked after, I don’t know if she is getting any medical support. I’m a medicine student myself, and they have recently released videos of them, which is almost optimistic because we see they are alive, but at the same time, you can see their eyes are sunken, that they are thin. You can see that they are not fed well, and you can see that they are not in good health.
I don’t know who’s looking out for her, but I know that they are not looked out for as they deserve, and as they should be back at home.
TML: A cease-fire was thought to be in motion, and Hamas not only did not accept it, but it has been firing rockets en masse at Israeli cities. What should the world be doing to help get the hostages out?
Shay Dikman: I think that the world’s responsibility is to call out for a deal, to call out first Hamas and understand that it is a terror organization. We need every support that we can get to get to a deal and to be able to get back our people safe.
I think that we know from history that the world’s support has influence over our government, and most importantly, over Hamas. Hamas is dependent on the world, and the world has to support us in our effort to make a deal with Hamas. We want our people back, and we need to have your help.
TML: What can you tell us about Carmel that might help the public understand who she is?
Shay Dikman: Carmel is my cousin. She is a strong woman, a smart woman. She is someone that at the same meeting with her you can both have the silliest laugh and the deepest conversation about anything in the world. You can be sure that you will come out with insights for the next year or two. Every single conversation with her is meaningful.
Carmel is a person that loves every human being in this world. She accepts everybody. She has connections with people from all over the world. She has been many times to India, and it’s the place she loves the most to go travel to. For the last two and a half months that she is not here, I have made connections with the people who love her. And there are so many of them, and they are from different origins, different sexes, different races. All kinds of people that she has touched with her compassion and wisdom. I love her, and I miss her, and so does her father, her brothers, our family, her friends, and so many people who are missing Carmel. She has to come back as soon as possible.
An Israeli airstrike targeted the Al-Maghazi refugee camp in the center of the Gaza Strip. At least 78 people were killed, and the death toll is expected to rise. The Israeli military is reviewing the incident. Imtiaz Tyab has more.
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Trucks slid off I-80 in the snow in Nebraska as the state’s travel authority warns of unsafe road conditions. Meanwhile, rainy weather caused disruptions in air travel around the country.
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LONDON (Reuters) – Britain’s King Charles called on people on Monday to help those less fortunate during a time of economic hardship and global conflict, using his Christmas Day message to emphasise the importance of kindness, compassion and care for the environment.
In his second Christmas message since becoming king, Charles also paid tribute to volunteers, charity workers and people working over the holidays in roles caring for others.
“This is all the more important at a time of real hardship for many, when we need to build on existing ways to support others less fortunate than ourselves,” the 75-year-old monarch said.
In a first for the tradition of royal seasonal messages that dates back to a radio speech by his great-grandfather George V in 1932, Charles delivered his message beside a living Christmas tree that Buckingham Palace said would be replanted.
In a further nod to Charles’ decades of work on environmental issues, the tree contained natural and sustainable decorations including pine cones and paper.
“We care for the Earth for the sake of our children’s children,” Charles said, speaking from the Centre Room at the palace, which opens onto the famous balcony where the royal family appears to the public on special occasions.
“During my lifetime I have been so pleased to see a growing awareness of how we must protect the Earth and our natural world as the one home which we all share,” said Charles, who became king on the death of his mother Queen Elizabeth in September 2022.
Alluding partly to the 11-week-old war raging in Gaza, Charles added: “At a time of increasingly tragic conflict around the world, I pray that we can also do all in our power to protect each other.”
Charles, who holds the title of “Defender of the Faith” in his role as the Supreme Governor of the Church of England, said the Christian teaching of doing good to others represented universal values and seemed more relevant now than ever.
(Reporting by Sachin Ravikumar; Editing by Gareth Jones)
BANGKOK (AP) — Asian shares were mostly higher on Monday after Wall Street capped its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up.
Tokyo’s Nikkei 225 added 0.3% to 33,254.03 and the Shanghai Composite index edged 0.1% higher, to 2,918.93. The Taiex in Taiwan gained 0.1% and Bangkok’s SET rose 0.1%.
Most markets in the region and beyond were closed for the Christmas holiday.
Chinese regulators announced approvals of more than 100 online games and issued a statement expressing support for the industry after draft guidelines issued Friday caused share prices of major games makers like Tencent and Netease to plunge.
On Friday, the S&P 500 rose 0.2% to sit less than 1% below its record set nearly two years ago, at 4,754.63. The Dow slipped less than 0.1% to 37,385.97, and the Nasdaq gained 0.2% to 14,992.97.
With its eight straight weekly gains, the S&P 500 is in the midst of its longest winning streak since 2017.
Wall Street’s focus was squarely on a suite of economic reports released Friday that led to some swings in Treasury yields.
The measure of inflation the Federal Reserve prefers to use slowed by more than economists expected, down to 2.6% in November from 2.9% a month earlier. It echoed other inflation reports for November released earlier in the month.
Spending by U.S. consumers unexpectedly rose during the month. While that’s a good sign for growth for an economy driven mainly by consumer spending, it could also indicate underlying pressure remains on inflation.
Other reports on Friday showed orders for durable manufactured goods strengthened more in November than expected, sales of new homes unexpectedly weakened and sentiment for U.S. consumers improved.
The Federal Reserve is walking a tightrope, trying to slow the economy enough through high interest rates to cool inflation, but not so much that it tips into a recession. A stronger-than-expected economy could complicate the balancing act.
The yield on the 10-year Treasury was at 3.90% early Monday, roughly its same level from late Friday. It is still down comfortably from October, when it was above 5% and putting painful downward pressure on the stock market.
Falling yields have been a primary reason the stock market has charged roughly 15% higher since late October. Not only do they boost the economy by encouraging borrowing, they also relax the pressure on the financial system and goose prices for investments. They’ve been easing on hopes that inflation has cooled enough for the Federal Reserve to cut interest rates through 2024.
Traders are largely betting the Federal Reserve will cut its main interest rate by at least 1.50 percentage points by the end of next year, according to data from CME Group. The federal funds rate is currently sitting within a range of 5.25% to 5.50% at its highest level in more than two decades.
In currency dealings, the U.S. dollar fell to 142.38 Japanese yen from 142.49 yen. The euro rose to $1.1029 from $1.1019.
Don’t miss the Baltimore Ravens vs. San Francisco 49ers Monday Night Football game this Christmas.
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Most eastern Christian churches use the Julian calendar, in which Christmas falls on Jan. 7, rather than the Gregorian calendar used in everyday life and by Western churches.
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BANGKOK (AP) — China’s press and publications authority has approved 105 new online games, saying it fully supports the industry after proposed curbs caused massive losses last week for investors in major games makers.
The National Press and Publication Administration issued a statement on its WeChat social media account Monday saying the approvals by the Game Working Committee of China Music and Digital Association were “positive signals that support the prosperity and healthy development of the online game industry.”
Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault” were among games approved.
Draft guidelines for curbs on online gaming had caused share prices of video game makers like Tencent and Netease to plunge on Friday, causing losses of tens of billions of dollars and dragging Chinese benchmarks lower.
The administration’s guidelines said online games would be banned from offering incentives for daily log-ins or purchases. Other restrictions include limiting how much users can recharge and issuing warnings for “irrational consumption behavior.”
On Friday, Netease’s Nasdaq-traded shares fell 16.1% while it’s Hong Kong-traded shares sank 25%. Tencent’s closed 12% lower. Huya Inc., a smaller online games maker, lost 10.7% on the New York Stock Exchange. Overall, the companies lost tens of billions of dollars in market value.
Hong Kong’s market was closed Monday for the Christmas holiday. Share prices in Shanghai were flat.
The Press and Publication Administration said that in 2023, 1,075 game version numbers had been issued, of which 977 were domestically produced and 98 were imported.
It also cited a “2023 China Game Industry Report” that it said showed sales revenue for the domestic online games market exceeded 300 billion yuan ($42 billion) in 2023, with the number of people playing the games reaching 668 million.
“The Game Working Committee hopes that member units will take this opportunity to launch more high-quality products, promote high-quality development of the online game industry, and contribute to promoting cultural prosperity and development and building a culturally powerful country,” it said.
China has taken various measures against the online games sector in recent years.
In 2021, regulators limited the amount of time children could spend on games to just three hours a week, expressing concern about addiction to video gaming. Approvals of new video games were suspended for about eight months but resumed in April 2022 as a broader crackdown on the entire technology industry was eased.
