ISTANBUL
Here’s a rundown of all the news you need to start your Wednesday with, including Lebanese president's election, The US plan for $500 million military aid package for Ukraine and Armenia process to seek European Union membership.
TOP STORIES
Lebanese parliament elects army chief Joseph Aoun as new president
The Lebanese parliament elected Army Chief Joseph Aoun as president on Thursday, ending two years of political vacuum in the country.
Aoun won 99 votes during a second round of voting in the 128-seat parliament, according to an Anadolu reporter.
The first round of voting failed to elect a president after Aoun secured only 71 votes, while 37 MPs gave a blank vote.
Russian official says Armenia has started process of exiting Eurasian Economic Union with EU draft bill
Russia’s deputy premier said that Moscow considers the start of discussions of a draft bill in Armenia to initiate the country's EU membership application as the start of its withdrawal from the Eurasian Economic Union (EAEU).
“The Russian Federation will build its economic policy towards Armenia taking this circumstance into account,” Alexey Overchuk told journalists in the capital Moscow.
Earlier on Thursday, the Armenian government approved a draft law to initiate the country's EU membership application process, with Prime Minister Nikol Pashinyan stating that the final decision will be made at a national referendum.
After getting the government's approval, the draft will be submitted to parliament for consideration, which is expected to last until the end of January.
US announces $500M military aid package for Ukraine
The US on Thursday announced a $500 million military aid package for Ukraine.
“We must not let up and that's why I'm announcing today another presidential drawdown authority package valued at $500 million. It includes additional missiles for Ukrainian Air Defense, more ammunition, more air-to-ground munitions and other equipment to support Ukraine's F-16s,” US Secretary of Defense Lloyd J. Austin said at the opening session of the Ukraine Defense Contact Group meeting in Ramstein, Germany.
“Ukraine's survival is on the line, but so is the security of Europe, the United States and the world, and that's why the 50 members of this contact group continue to stand united with Ukraine,” he added.
Austin warned that “the stakes are still enormous for all of our security.”
NEWS IN BRIEF
- Germany dismissed efforts by US President-elect Donald Trump to press NATO members to spend a staggering 5% of the gross domestic product on defense – more than double the military pact’s current spending target.
- France expressed concern over Meta’s recent decision to reevaluate the role of fact-checking in curbing misinformation, warning that the change, currently limited to the US, could have broader implications.
-Former EU Internal Market Commissioner Thierry Breton said that banning Elon Musk’s social media platform X in Europe is “legally possible,” though such a move would require a clear legal basis.
- Poland’s president asked the government to ensure that Israeli Prime Minister Benjamin Netanyahu can take part in the 80th anniversary of the liberation of the Auschwitz concentration camp without fear of arrest over war crimes in Gaza.
- Russia is closely monitoring the escalating situation surrounding US territorial claims to Canada and Greenland but considers these issues to fall under Washington’s bilateral relations with Ottawa and Copenhagen, Kremlin spokesman Dmitry Peskov said.
- Moldova summoned the Russian charge d’affaires for what it described as “disinformation” by the Moscow Embassy in Chisinau concerning the energy crisis in its breakaway Transnistria region.
– A junta airstrike in Myanmar has killed at least 41 people and injured 50 others in the Rakhine State, local media reported.
- Three people were shot dead by police in Mozambique as they congregated to welcome opposition leader Venancio Mondlane who returned from self-imposed exile following October's disputed elections.
- Syria said that passport issuance services for Syrian nationals living abroad will resume through diplomatic missions and consulates starting Sunday.
SPORTS
West Ham United appoints Graham Potter as their new head coach
English Premier League club West Ham United hired Graham Potter as their new head coach.
"West Ham United is delighted to welcome Graham Potter as the Club’s new Head Coach.
"The 49-year-old joins the Hammers on a two-and-a-half year contract and will take charge of his new team for the first time when the Irons travel to Aston Villa in the FA Cup third round on Friday evening," West Ham said in a statement.
NBA postpones Lakers vs. Hornets game due to Los Angeles wildfires
The NBA Communications announced that they decided to postpone the Los Angeles Lakers vs. the Charlotte Hornets game at Crypto.com due to Los Angeles wildfires.
"The entire NBA family sends its thoughts and support to the community of Los Angeles during this challenging time," the statement added.
BUSINESS & ECONOMY
Bankruptcies in Germany at highest since 2009 financial crisis
The number of corporate bankruptcies in Germany is at its highest since the financial crisis in 2009, according to data Thursday from The Halle Institute for Economic Research (IWH).
In the fourth quarter of 2024, a total of 4,215 companies went bankrupt, while 38,000 jobs were affected.
The number of bankruptcies in the last quarter of 2024 grew 36% compared to the last quarter of 2023.
Germany's bankruptcy filings of companies and enterprises increased 24% in December compared to the same month of the previous year, rising to 1,340.
Bankruptcies in December were 54% higher than the December average for the pre-coronavirus pandemic period of 2016-2019.
Global passenger demand rises 8.1% in November
Global passenger demand posted a robust 8.1% annual rise in November 2024, the International Air Transport Association (IATA) reported.
The growth, measured in revenue passenger kilometers (RPK), reflected strong performance across both international and domestic markets.
Capacity, measured in available seat kilometers (ASK), also grew by 5.7% year-on-year.
The load factor reached a record high for November at 83.4%, up by 1.9 percentage points from last year.
