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Argentina September inflation seen at lowest since late 2021

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BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate is expected to have slowed to 3.5% in September, which would be the lowest monthly rate since the end of 2021, a Reuters poll of economists showed on Tuesday.

That rate would be a sign of progress for the government of libertarian President Javier Milei, which has focused on taming runaway prices since taking office in December.

Projections for last month’s inflation ranged from 3.1% to 4.0%, the poll of 27 Argentine and international analysts showed, giving both a median estimate and mean average of 3.5%.

Argentina’s national statistics agency will publish the on Thursday.

The September outlook is “very encouraging,” said Clara Alesina, an economist at the Fundacion Libertad y Progreso, a think tank. “The slowdown in general and underlying inflation reflects how the markets have reacted positively to the decisions taken.”

Consulting firm EcoGO said in a report that several factors helped slow rising prices in September, including a fall in economic activity and an appreciation in parallel exchange rates.

Despite the falling monthly rate of price increases, Argentines still feel the weight of three-digit annual inflation.

© Reuters. FILE PHOTO: A customer and a salesperson pose for a photograph while holding Argentine and Paraguayan bills at a market near the border with Argentina, in Nanawa, Paraguay May 16, 2024. REUTERS/Cesar Olmedo/File Photo

Inflation in the 12 months through August reached 236.7%, the highest recorded in the world.

Analysts polled in a central bank survey published last week expect full-year inflation for 2024 at 123.6%.

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Trump’s Middle East envoy meets Netanyahu on Saturday amid ceasefire push

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By Maayan Lubell and Nidal al-Mughrabi

JERUSALEM/CAIRO (Reuters) -U.S. President-elect Donald Trump’s Middle East envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on Saturday amid a push to secure a ceasefire in Gaza, Netanyahu’s office said.

After the meeting, Netanyahu dispatched a high-level delegation which included the head of the Israeli Mossad intelligence agency to Qatar in order to “advance” talks to return hostages being held by Hamas in Gaza, a statement from Netanyahu’s office said.

Earlier on Saturday, an Israeli official said some progress had been made in the indirect talks between Israel and Palestinian militant group Hamas, mediated by Egypt, Qatar and the United States, to reach a deal in Gaza.

The mediators are making renewed efforts to reach a deal to halt the fighting in the enclave and free the remaining Israeli hostages held there before Trump takes office on Jan. 20. A deal would also involve the release of some Palestinian prisoners held in Israeli jails.

Families of Israeli hostages welcomed Netanyahu’s decision to dispatch the officials, with the Hostages and Missing Families Forum Headquarters describing it as a “historic opportunity.”

Witkoff arrived in Doha on Friday and met the Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s foreign ministry said.

Egyptian and Qatari mediators received reassurances from Witkoff that the U.S. would continue to work towards a fair deal to end the war soon, Egyptian security sources said, though he did not give any details.

Israel launched its assault on Gaza after Hamas fighters stormed across its borders in October 2023, killing 1,200 people and taking more than 250 hostages, according to Israeli tallies.

Since then, more than 46,000 people have been killed in Gaza, according to Palestinian health officials, with much of the enclave laid to waste and gripped by a humanitarian crisis, with most of its population displaced.

On Saturday, the Palestinian civil emergency service said eight people were killed, including two women and two children, in an Israeli airstrike on a former school sheltering displaced families in Jabalia, in the northern Gaza Strip.

The Israeli military said the strike had targeted Hamas militants who were operating at the school and that it had taken measures to reduce the risk of harm to civilians.

© Reuters. American business person Steve Witkoff makes remarks next to U.S. President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, U.S. January 7, 2025. REUTERS/Carlos Barria

Later on Saturday, the Gaza Civil Emergency Service said five people were killed and several others were wounded in two Israeli strikes. One of the two strikes killed three people in a house near the Daraj neighborhood in Gaza City.

The Israeli military said it struck a Hamas militant “in that area” at that approximate time.

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Trump’s Ukraine envoy says world must reinstate ‘maximum pressure’ on Iran

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By John Irish

PARIS (Reuters) -The world must return to a policy of “maximum pressure” against Iran to turn it into a more democratic country, U.S. President-elect Donald Trump’s incoming Ukraine envoy Keith Kellogg (NYSE:) told an Iranian opposition event in Paris on Saturday.

Trump has vowed to return to the policy he pursued in his previous term that sought to wreck Iran’s economy to force the country to negotiate a deal on its nuclear programme, ballistic missile programme and regional activities.

“These pressures are not just kinetic, just not military force, but they must be economic and diplomatic as well”, Retired Lieutenant-General Kellogg, who is set to serve as Trump’s special envoy for Ukraine and Russia, told the audience at Paris-based Iranian opposition group National Council of Resistance of Iran (NCRI).

He said there was an opportunity “to change Iran for the better” but that this opportunity would not last forever.

“We must exploit the weakness we now see. The hope is there, so must too be the action.”

He has previously spoken at NCRI events, most recently in November, but his presence in Paris, even if in a personal capacity, suggests the group has the ear of the new U.S. administration.

Kellogg postponed a trip to European capitals earlier this month until after Trump’s inauguration on Jan. 20.

It was unclear whether he would use his trip top Paris to meet French officials to discuss Ukraine. The French presidency, foreign ministry, Trump’s transition team did not immediately respond for comment.

Incoming U.S. Secretary of State Marco Rubio has also spoken at NCRI events in the past. The group has repeatedly called for the fall of the existing Iranian authorities, although it is unclear how much support it has within Iran.

Speaking at the start of the event at Auvers-sur-Oise, the group’s headquarters on the outskirts of Paris, NCRI President-elect Maryam Rajavi said the regional balance of power had shifted against Iran’s leadership with the all of Syria’s President Bashar al-Assad and the “crushing blow” suffered by its most important ally Hezbollah is its war with Israel.

© Reuters. FILE PHOTO: Keith Kellogg, national security adviser to Vice President Mike Pence, speaks during the largely virtual 2020 Republican National Convention broadcast from Washington, U.S. August 26, 2020.   2020 Republican National Convention/Handout via REUTERS/File Photo

“It is time for Western governments to abandon past policies and stand with the Iranian people this time,” she said.

The NCRI, the political arm of the People’s Mujahideen Organisation of Iran (PMOI), has held frequent rallies in the France, often attended by high profile former U.S., European and Arab officials critical of the Islamic Republic.

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Jeju Air black box data missing from crucial minutes before crash, South Korea ministry says

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By Hyunjoo Jin and Jack Kim

SEOUL (Reuters) -The two black boxes on the Boeing (NYSE:) jet involved in the worst aviation disaster on South Korean soil stopped recording about four minutes before the accident, the transport ministry said on Saturday.

South Korean investigators previously said the flight data and cockpit voice recorders were key to finding out the cause of last month’s crash that killed 179 people.

It happened about four minutes after the pilot of the airliner operated by Jeju Air reported a bird strike.

Authorities investigating the crash plan to analyse what caused the black boxes to stop recording, the ministry said in a statement.

The voice recorder was initially analysed in South Korea, and, when data was found to be missing, sent to a U.S. National Transportation Safety Board laboratory, the ministry said.

Black box recorders collect data on communications involving pilots in the cockpit as well as how the aircraft systems perform in-flight.

Jeju Air 7C2216, which departed the Thai capital Bangkok for Muan in southwestern South Korea, belly-landed and overshot the regional airport’s runway on Dec. 29, exploding into flames after hitting an embankment. Only two people survived – crew members who were sitting in the tail section.

Two minutes before the pilots declared a Mayday emergency call, air traffic control gave caution for “bird activity”.

Sim Jai-dong, a former transport ministry accident investigator, said the discovery of the missing data from the budget airline’s Boeing 737-800 jet’s crucial final minutes was surprising and suggests all power, including backup, may have been cut, which is rare.

The transport ministry said other data available would be used in the investigation and that it would ensure the probe is transparent and that information is shared with the victims’ families.

© Reuters. Jeju Air plane wreckage, Muan, South Korea, December 30, 2024. REUTERS/Kim Hong-Ji

Some members of the victims’ families have said the transport ministry should not be taking the lead in the investigation and that it should involve independent experts, including those recommended by the families.

The investigation has also focused on the embankment the plane crashed into, which was designed to prop up a “localiser” system used to assist aircraft landing, including why it was built with such rigid material and so close to the end of the runway.

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