News from January 17, 2025 at 2 PM

Israeli Prime Minister Benjamin Netanyahu's office confirmed that Israel, the Palestinian movement Hamas, the United States, and Qatar have signed a deal on a ceasefire and the release of hostages in the Gaza Strip. Netanyahu instructed to convene the security cabinet and subsequently hold a government meeting to approve the deal. On Thursday, media reported that the Israeli security cabinet would vote on the ceasefire deal on Friday, with the government expected to vote on Saturday. On January 15, with the mediation of Qatar, Egypt, and the United States, Israel and Hamas agreed to a 42-day ceasefire and declared their intention to finally end the hostilities that have claimed the lives of 46,000 Palestinians and about 1,500 Israelis over 15 months, spreading to Lebanon and Yemen and provoking missile exchanges between Israel and Iran. The first stage involves a partial exchange of prisoners, the withdrawal of Israeli troops to the Gaza borders, and humanitarian aid, while the second and third stages are yet to be agreed upon. Under the deal, the guarantors—Qatar, Egypt, and the United States—will establish a coordination center in Cairo.

Iranian President Masoud Pezeshkian's visit to Russia is of significant importance, as both countries are set to sign a comprehensive strategic partnership agreement, according to Russian President Vladimir Putin. The new treaty will boost cooperation in areas including nuclear energy, Putin added, noting that the current pace of trade and economic relations between Russia and Iran is acceptable. Pezeshkian stated that the agreement will greatly enhance bilateral relations and serve as a solid foundation for further progress. He revealed that he had discussed the importance of developing ties with Russia with Iranian Supreme Leader Ali Khamenei. Both leaders emphasized the strategic and comprehensive nature of Moscow-Tehran relations.

US President-elect Donald Trump's incoming national security adviser has stated that Trump will find a way to save TikTok before a ban on the app takes effect this weekend. Congressman Mike Waltz, a Florida Republican, said Trump would intervene if the Supreme Court upholds the law banning the platform in the US unless it is sold by January 19. The Biden administration is also seeking ways to prevent TikTok from suddenly disappearing. ByteDance, the Chinese owner, plans to shut off the app for its 170 million US users by Sunday. Waltz noted that the law allows a 90-day extension for ByteDance if significant progress is made towards a sale. Trump hinted at an executive order to suspend the ban, but it is unclear if this could bypass Congress. TikTok is banned on national security grounds over concerns its data could be collected by the Chinese Communist Party. Trump has invited TikTok's CEO, Shou Zi Chew, to his inauguration. The Supreme Court heard arguments last week and a decision is expected soon.

U.S. President Joe Biden, ahead of his departure from office, announced the commutation of sentences for nearly 2,500 people convicted of non-violent drug offenses. Biden stated that these individuals are serving disproportionately long sentences compared to current laws, policies, and practices. The move aims to provide clemency to those sentenced based on discredited distinctions between crack and powder cocaine and outdated sentencing enhancements for drug crimes. In December, Biden commuted the sentences of 37 out of 40 federal death row inmates to life in prison without parole. He also pardoned 39 people convicted of non-violent crimes and commuted the sentences of nearly 1,500 others serving long prison terms. Biden has faced criticism for pardoning his son, Hunter, who pleaded guilty to tax violations and was convicted on firearms-related charges. Defense attorneys and civil rights groups have intensified efforts to highlight compelling cases and assist those believed to be wrongly convicted or serving excessive terms for nonviolent offenses. Presidents typically issue a round of pardons toward the end of their tenure. Trump has promised to grant clemency to some supporters who stormed the U.S. Capitol on January 6, 2021, in an attempt to block Congress from certifying Biden's 2020 election victory.

SpaceX's Starship rocket broke up during its seventh test flight on Thursday, causing dozens of commercial flights to be diverted or delayed. The Federal Aviation Administration said it briefly slowed and diverted aircraft around the area after issuing a warning about falling debris from the rocket. The rocket took off from SpaceX's facility near Brownsville, Texas, and was headed east. SpaceX stated it will continue to review flight data to understand the root cause. The FAA has not received any reports of injuries or property damage from the debris. Flights from airlines including JetBlue, FedEx, and Spirit were affected.

On January 10, 2025, at the construction site of the Shanghai-Nanjing-Hefei high-speed railway in Suzhou, Jiangsu province, China. In the fourth quarter of 2024, China's GDP grew by 5.4%, bringing the full-year growth to 5.0%, in line with the official target. Stimulus measures helped stabilize the economy, but continuous policy support is required. In December, retail sales increased by 3.7% and industrial output by 6.2%. Full-year fixed asset investment rose by 3.2%, while real estate investment fell by 10.6%. The urban unemployment rate rose to 5.1%, with urban and rural residents' incomes growing by 4.4% and 6.3% respectively. The stock market and offshore yuan saw slight gains, but economists remain cautious about the economic recovery, noting persistent deflation. The population declined to 1.408 billion, highlighting a demographic crisis. The government has implemented various stimulus measures and is expected to continue doing so in 2025.

Following British Prime Minister Keir Starmer's visit to Kiev, the United Kingdom and Ukraine released a 100-year partnership declaration. The UK will explore options for deploying military bases and other defense facilities in Ukraine, including logistics depots, reserve military equipment storage facilities, and war reserve stockpiles. The parties plan to enhance military cooperation, establish flexible rapid response mechanisms, and jointly train military personnel. The UK committed to providing Ukraine with annual military assistance of at least 3 billion pounds until 2030/31. The declaration also covers cooperation in nuclear energy and combating information manipulation. The declaration remains effective for 100 years and can be amended or terminated by joint decision of the parties.

Duolingo shares rose nearly 7% on Thursday due to a significant increase in users signing up to learn Mandarin, coinciding with the soaring popularity of the Chinese social media app RedNote, a rival to TikTok. The company confirmed to CNBC that there has been a 216% rise in Mandarin learners on the app compared to a year ago, while Spanish, one of the most popular languages, saw a 40% increase over the same period. RedNote, known as Xiaohongshu in China, has become the top free app on the Apple App Store, holding that position for most of the week. Last week, the Supreme Court heard oral arguments in a case concerning the future of TikTok in the U.S. and a potential law that could ban the app. The justices seemed inclined to uphold the law, with a decision expected as soon as Friday. TikTok is reportedly preparing for a U.S. shutdown on Sunday. RedNote has been the primary beneficiary of the American user exodus, with its U.S. app downloads surging by 20 times last week, according to Sensor Tower. A Duolingo spokesperson told CNBC that the company's marketing team is forward-thinking and already has an active presence on RedNote, managed by their team in China. Duolingo offers courses in 42 languages, with 48.8 million Spanish learners, 27.3 million French learners, and 10.7 million Chinese learners. Last year, Duolingo shares climbed 43%, outpacing the Nasdaq's 29% gain.

On January 16, former Bank of Canada governor Mark Carney announced his candidacy to replace outgoing Prime Minister Justin Trudeau as leader of the ruling Liberal Party in Edmonton, Alberta. Positioning himself as an outsider, Carney emphasized his focus on reviving the struggling economy. Trudeau, who announced his resignation in January amid internal dissatisfaction and poor polling, will remain in office until a new leader is named on March 9. Carney's main rival is former finance minister Chrystia Freeland. The new prime minister's tenure may be short-lived, as the minority government could fall by the end of March, potentially leading to an election that polls suggest the Conservatives will win. Despite his outsider stance, Carney's ties to Trudeau and his extensive financial experience, including serving as Bank of England governor, have drawn criticism from the opposition.

Italy's foreign minister stated that Elon Musk played no role in negotiations between Italy and Iran for the release of journalist Cecilia Sala, dismissing media reports to the contrary. Sala, an Italian journalist detained in Iran last month during a reporting trip, returned home last week. Subsequently, Italy released an Iranian businessman arrested in Milan under a U.S. warrant. Foreign Minister Antonio Tajani emphasized that the case was settled by the Italian government. The New York Times had reported that Musk helped secure Sala's release at her boyfriend's request, but Musk clarified he only recommended U.S. support. Italian Prime Minister Giorgia Meloni, a friend of Musk's, said she had no information on his involvement, though her surprise visit to Florida reportedly played a role in the reporter's release.

As President-elect Donald Trump prepares to take office, immigrant farmworkers in the U.S. are gearing up for potential mass deportations, including assigning guardians for their children. Approximately half of hired farmworkers lack legal status, and agricultural groups warn that deportations could halt food production. Legal aid organizations in California and elsewhere report a surge in demand for services, with farmworkers attending workshops to prepare for encounters with immigration officials. The Trump administration has previously conducted worksite raids and has not ruled out broader deportations of farmworkers. California's food production heavily relies on these workers, 75% of whom are undocumented. Organizations across the country are expanding immigration services to support farmworkers facing potential raids.

US President-elect Donald Trump has appointed actors Mel Gibson, Jon Voight, and Sylvester Stallone as special envoys to Hollywood. Trump stated that the three actors will serve as his special representatives to revitalize Hollywood and reclaim business lost to foreign countries over the past four years. He emphasized that they will be his 'eyes and ears' and will act on their suggestions. Meanwhile, wildfires are raging in the Hollywood Hills area of Los Angeles, California, with Trump repeatedly criticizing the state authorities for mismanagement.

Cuban dissident and human rights activist Jose Daniel Ferrer told Reuters on Thursday that he had been released from jail and was at home, as part of a broader plan negotiated with the Vatican to gradually free upwards of 500 prisoners. The Cuban government began releasing a small number of prisoners on Wednesday following talks with the Catholic Church, prompting U.S. President Joe Biden to announce significant loosening of sanctions on the crisis-racked nation. Biden's announcement came just days before President-elect Donald Trump's inauguration, with Trump's nominee for Secretary of State, Senator Marco Rubio, criticizing the decision to relax sanctions on Cuba. Many of the prisoners released this week were arrested in connection with unprecedented anti-government protests in July 2021, the largest since Fidel Castro's 1959 revolution. The U.S., Europe, and human rights groups had criticized Cuba's response to the protests as repressive. Ferrer, the highest-profile prisoner released so far, is the leader of the Patriotic Union of Cuba (UNPACU), once the country's largest opposition group. Arrested in October 2019 on charges of abduction and assault, he was sentenced to four years but mostly served under house arrest. Critics argued that the charges were fabricated to silence him. Ferrer was re-arrested on July 11, 2021, for attempting to join a protest in Santiago de Cuba, violating his house arrest terms. His activism dates back decades, including his arrest in 2003 during the Black Spring crackdown. Cuba has stated it will continue to gradually release prisoners in the coming days and weeks.

In recent years, an increasing number of international music stars have begun to focus on the Indian market. Coldplay is set to perform two shows in Ahmedabad, with over 100,000 attendees expected each night. In 2024, demand for live music in India grew by 18%, and Ed Sheeran plans his largest-ever tour in the country. Experts attribute this to India's vast young population and growing economic appeal. The Indian music industry's value is projected to reach 37 billion rupees by 2026. The arrival of international stars also brings more opportunities and challenges for local artists.

According to The New York Times, the U.S. Securities and Exchange Commission (SEC) sued Tesla founder Elon Musk in a federal court in Washington, D.C., alleging he deliberately delayed disclosing his stake in the social platform X (formerly known as Twitter) during its acquisition. Court documents show that Musk began buying Twitter shares in late January 2022, surpassing the 5% disclosure threshold by mid-March, but did not disclose until early April. Musk's failure to disclose his purchases led to a 27% surge in Twitter's stock price, saving him at least $150 million. Musk and his lawyer responded that he did nothing wrong, accusing the SEC of years of harassment. The lawsuit was quietly announced, with analysts suggesting it may be related to the upcoming change in the Trump administration. Such cases typically end in settlements.

On February 25, 2024, on the eve of the Mobile World Congress in Barcelona, Honor CEO George Zhao showcased the new Honor Magic 6 Pro smartphones. However, the company announced on Friday that Zhao has resigned from his position due to personal reasons. The company and its Board of Directors expressed sincere appreciation for Zhao's outstanding contributions during his tenure. Jian Li, a senior executive at Honor for four years, will succeed Zhao as CEO. In an internal memo confirmed by an Honor spokesperson, Zhao cited health reasons for his departure, planning to rest, recover, and spend more time with his family. Since being spun off from Huawei in 2020, Honor has aggressively expanded into international markets under Zhao's leadership, significantly increasing its market share in high-end smartphones. According to Counterpoint Research, Honor's market share in China rose from 9.8% in 2020 to over 15% in 2024, and its overseas market share reached 2.3% in 2024. Analysts believe the new leadership will continue to focus on high-end devices and technology.