Politics
As guns fall silent, Gazans find newly reopened banks with no cash
The ceasefire in Gaza has eased the trauma of Israel’s air strikes and blockade but a shortage of cash has left Palestinians unable to spend what little money they have without falling victim to wartime profiteers.
Banks, many damaged or destroyed along with homes, schools and other institutions across Gaza during two years of war, began reopening on October 16, six days after the ceasefire was announced. Queues soon formed but people came away disappointed.
“There is no money, liquidity at the bank,” said father-of-six Wael Abu Fares, 61, standing outside the Bank of Palestine. “You just come and do paperwork transactions and leave.”
People need cash for most everyday transactions in Gaza, whether to buy food in the market or pay utility bills, but Israel blocked transfers of banknotes along with most other goods following the attack and mass hostage-taking by Hamas-led fighters in October 2023.
Huge fees to cash salaries
“Banks are open, Air conditioning is on, but they are mostly doing electronic business, no deposits, no withdrawals of cash,” Gaza economist Mohammad Abu Jayyab told Reuters.
“People go to some greedy merchants to cash their salaries and they give them cash for a huge fee, which ranges between 20% and sometimes goes to 40%.”
Mother-of-seven Iman al-Ja’bari longs for a time when transactions at banks used to take less than an hour.
“You need two or three days to go back and forth, back and forth, spending your whole life standing there,” she said. “And in the end, you only get 400 or 500 shekels ($123 or $153). What can this (amount) buy with the incredibly high prices today that we can’t afford?”.
For a few Palestinians, the cash crunch has provided an opportunity to eke out a living. Manal al-Saidi, 40, repairs damaged banknotes to cover some basic needs.
“I work and I make 20, 30 shekels ($6, $9), and I leave with a loaf of bread, beans for dinner, falafel, anything, something simple,” she said, wiping notes.
“Not that I can get (afford) vegetables or anything, no, just enough to get by.”
Some people resort to electronic transfers through bank apps for even small items such as eggs or sugar, but the sellers apply additional fees.
The issue of cash supplies into Gaza was not included in US President Donald Trump’s 20-point peace plan, which also left the details of reconstruction and security to be decided.
COGAT, the arm of the Israeli military that oversees aid flows into the Gaza Strip, did not immediately respond to a request for comment on whether or when banknotes may be allowed back in.
The shortage of notes and coins has compounded the crisis for Gazans who have lost relatives, jobs and homes, used up their savings and sold their possessions to buy food, tents and medications. Some have resorted to barter to get by.
Palestinian merchant Samir Namrouti, 53, has got used to banknotes that are almost unrecognisable through overuse.
“What matters to me is its serial number. As long as its serial number is there, that’s it, I treat it as money,” he said.
Header image: Palestinian woman Manal al-Saidi repairs damaged banknotes on the side of a street, amid a cash crisis, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters
- 25,000 devotees throng temple built for 2,000.
- 18 injuries reported so far: district collector.
- Govt to compensate families of victims: Indian PM.
A stampede at a temple in India’s southern state of Andhra Pradesh killed at least nine people early on Saturday, government officials said, with several injured.
The stampede occurred as worshippers crowded into the Sri Venkateswara Swamy temple in the city of Srikakulam on Ekadashi, a day Hindus consider auspicious, said Pawan Kalyan, the state’s deputy chief minister.
“An inquiry will be conducted into the tragic incident,” Kalyan said in a statement, adding that the temple was run by private individuals. He put the death toll at nine.
As many as 25,000 devotees crowded into the temple, which can accommodate only about 2,000, leading to the crush, state minister Anam Ramanarayana Reddy added, while district officials have been told to provide the injured with medical help.
A total of 18 injuries have been reported so far, the collector and magistrate of Srikakulam district Swapnil Dinkar Pundkar said, while two critically injured patients have been moved to a tertiary care hospital for treatment.
The government will pay compensation of INR200,000 ($2,300) to the families of the dead, and INR50,000 ($570) to the injured, Prime Minister Narendra Modi said in a post on X.
DUBAI: If you’ve ever dreamed of a five-star hotel on wheels, your wait may soon be over. The UAE is preparing to launch one of its most glamorous travel experiences yet — a luxury train that will redefine rail travel across the Emirates.
Set to debut in 2028, the Etihad Rail luxury train will take passengers on a breathtaking journey from Fujairah’s coastline to the golden dunes of Liwa Desert in Abu Dhabi.
Designed and built by Italy’s Arsenale Group, the train will feature 15 opulent carriages — complete with private suites, fine-dining restaurants, a presidential suite, and a majlis-style VIP lounge inspired by Arabian elegance.
Described as a “five-star hotel on rails”, the luxury service promises travellers an experience where comfort meets adventure — from waking up to mountain views in Hatta to dining under desert stars in Liwa.
Etihad Rail’s regular passenger service is expected to begin next year, paving the way for this elite experience that could transform the way people explore the UAE.
For those who crave luxury, scenery and sophistication, the ultimate train journey is on its way.
Etihad Rail’s passenger service, which will initially connect 11 areas within the UAE, is set to launch next year. The service will eventually connect all seven emirates, transforming the country’s transport system.
- Ontario aired anti-tariff ad featuring Ronald Reagan.
- Trump announced to increase tariffs in response.
- Carney says he did not want to proceed with the ad.
Canadian Prime Minister Mark Carney said on Saturday he had apologised to US President Donald Trump over an anti-tariff political advertisement and had told Ontario Premier Doug Ford not to run it.
Carney, speaking to reporters after attending an Asia-Pacific summit in South Korea, said he had made the apology privately to Trump when they both attended a dinner hosted by South Korea’s president on Wednesday.
“I did apologise to the president,” Carney said, confirming comments by Trump made on Friday.
Carney also confirmed that he had reviewed the ad with Ford before it aired, but said he had opposed using it.
“I told Ford I did not want to go forward with the ad,” he said.
The ad, commissioned by Ford, an outspoken Conservative politician who is sometimes compared to Trump, uses a snippet of Republican icon and former President Ronald Reagan saying that tariffs cause trade wars and economic disaster.
In response, Trump announced that he was increasing tariffs on goods from Canada, and Washington has also halted trade talks with Canada.
When departing South Korea earlier this week, Trump remarked he had a “very nice” conversation with Carney at that dinner, but did not elaborate. On Friday, Trump still said the United States and Canada will not restart trade talks but Canadian Prime Minister Mark Carney apologised to him for an Ontario political ad using former President Ronald Reagan saying tariffs spell disaster.
“I like him a lot, but what they did was wrong,” the US president said. “He apologised for what they did with the commercial because it was a false commercial.”
Meanwhile, Carney said his talks with Chinese President Xi Jinping on Friday were a turning point in relations after years of tensions.
The last formal meeting between the leaders of Canada and China happened in 2017 when then-Prime Minister Justin Trudeau had a brief exchange with Xi at a meeting in San Francisco.
The trip to Asia had been part of efforts to reduce Canada’s reliance on the United States, Carney said.
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