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Official Survey Says Unemployment in West Bank, Gaza Rises 25%

Palestinian laborers work at Aluminum Construction, a factory located in the Industrial Park of the West Bank Israeli settlement of Maale Adumim, near Jerusalem, February 3, 2016. (Reuters)
Palestinian laborers work at Aluminum Construction, a factory located in the Industrial Park of the West Bank Israeli settlement of Maale Adumim, near Jerusalem, February 3, 2016. (Reuters)
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Official Survey Says Unemployment in West Bank, Gaza Rises 25%

Palestinian laborers work at Aluminum Construction, a factory located in the Industrial Park of the West Bank Israeli settlement of Maale Adumim, near Jerusalem, February 3, 2016. (Reuters)
Palestinian laborers work at Aluminum Construction, a factory located in the Industrial Park of the West Bank Israeli settlement of Maale Adumim, near Jerusalem, February 3, 2016. (Reuters)

Unemployment in the Palestinian labor force rose 25 percent in 2019, revealed an official report by the Palestinian Central Bureau of Statistics on Thursday.

The number of unemployed was 343,800 in 2019, with 215,100 in the Gaza Strip and 128,700 in the West Bank. The unemployment rate in Gaza reached 45% compared to 15% in the West Bank, while unemployment among males was 21% compared to 41% for females.

Total labor under-utilization stood at 487,400 people, including 73,100 discouraged jobseekers and 20,500 in time-related underemployment.

The Bethlehem governorate in the West Bank and Deir al-Balah governorate in the Gaza Strip registered the highest unemployment rate in 2019.

The Bethlehem governorate recorded the highest unemployment rate in the West Bank, at about 23%. It was followed by Jenin, at 22%. The Jerusalem and Qalqiliya governorates registered the lowest rates at 7% for each.

In the Gaza Strip, the Deir al-Balah governorate registered the highest unemployment rate, at about 52%, followed by Khan Yunis at 49%. The lowest rate was registered in the Gaza governorate at about 41%.

Moreover, the Bureau found a large gap in the labor force participation rate between genders, whereby 7 out of 10 of males are employed, compared to 2 out of 10 of females. It added that 19% of women in Gaza were employed, as opposed to 17% percent in the West Bank.

Around 61,000 people entered the labor force in 2019 with some 32,000 in the West Bank and 29,000 in the Gaza Strip, said the Bureau, noting an increase in the number of employed in the local market between 2018 and 2019

The number of employed in Israel and Israeli settlements stood at around 133,000 in 2019, with 71% working with a permit and 20% without one, while Israeli ID or foreign passport holders reached 9%.

The number of employed in Israeli settlements was 23,000 in 2019 compared with 22,000 in 2018, with the majority working in the construction sector.

The Bureau also noted a high percentage of child labor in the West Bank compared to the Gaza Strip. It said 3% of children between the ages of 10 and 17 were employed.

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Business

Saudi Industry Minister Discusses Mining Investment Opportunities with Kazakh Companies

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana on Friday with leaders of several Kazakh mining and metals companies. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana on Friday with leaders of several Kazakh mining and metals companies. (SPA)
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Saudi Industry Minister Discusses Mining Investment Opportunities with Kazakh Companies

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana on Friday with leaders of several Kazakh mining and metals companies. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana on Friday with leaders of several Kazakh mining and metals companies. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana on Friday with leaders of several Kazakh mining and metals companies, in the presence of Vice Minister for Mining Affairs Eng. Khalid Almudaifer, the Saudi Press Agency reported.

Discussions focused on opportunities for cooperation in the mining sector, particularly in strategic minerals and rare earth elements. The talks also covered mineral exploration, geological surveying, and sustainable mining.

Participants included representatives of Tau-Ken Samruk National Mining Company, KAZ Minerals, and Kazatomprom.

The meetings are part of the Kingdom’s efforts to strengthen international partnerships and attract high-quality investments in the mining and minerals sector, in line with the goals of Saudi Vision 2030.

Business

SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
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SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration

Asset managers eager to roll out leveraged exchange-traded funds tied to SpaceX on its first trading day have been told to delay the launch until Monday, four sources familiar with the matter said.

The setback denies speculators and traders a chance to capture what many expect could be a strong first-day pop in the shares of the blockbuster IPO, while managers will have to wait for the influx of capital into their products, Reuters said.

"We had really wanted to be out on Friday," said Matt Markiewicz, head ‌of product and ‌capital markets at Tradr ETFs, declining to comment on the ‌delay. ⁠The firm's 2x ⁠long and 2x short ETFs will now debut Monday on Cboe Global Markets .

"There is a lot at stake; these products could end up holding a total of more than $10 billion" in assets, Markiewicz added.

Asset managers seeking SEC approval to launch the ETFs had hoped to trade in lockstep with SpaceX's market debut, several of the issuers said.

Instead, exchanges told them on Wednesday the listings would need to be pushed to the first trading day following ⁠the IPO, according to four sources. The exchanges cited SEC concerns ‌that coupling the ETF launches with leveraged products could complicate ‌the SpaceX debut, three sources said.

The SEC did not respond to requests for comment. ‌A spokesman for the Nasdaq Stock Market, which will be home to the SpaceX IPO ‌as well as some of the ETFs, declined comment. Cboe Global Markets and the New York Stock Exchange could not immediately be reached for comment.

While there is no precedent for leveraged funds - introduced in the US less than four years ago and surging in number over the past ‌12 months - to launch alongside an underlying stock, asset managers had hoped to gain an edge in what analysts say could be ⁠a multibillion-dollar race ⁠for assets in the first weeks of trading.

"There are billions at stake in the first few weeks alone," said Todd Sohn, an ETF analyst at Strategas.

Major players in the leveraged stock arena, including Direxion, GraniteShares, ProShares and Defiance, plan to roll out 2x leveraged long ETFs as soon as they are permitted to do so, according to their filings and advertisements on investment forums and social media sites.

"Investors will have multiple options; they will be able to get SpaceX exposure because of early entry on the part of passive index providers, or through the stock itself, or through the leveraged (ETF) ecosystem, which adds up to a pretty robust mechanism for price discovery," said Simeon Hyman, global investment strategist at ProShares.

He said his firm had no plans to launch early and was comfortable waiting until Monday. "The intent of everybody is to have this (IPO) work smoothly."

Business

Türkiye Central Bank Commits to Continued Disinflation Path

A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
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Türkiye Central Bank Commits to Continued Disinflation Path

A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)

Turkish Central Bank Governor Fatih Karahan said on Friday that price stability remains the top priority and that the disinflation process will continue despite recent ‌geopolitical tensions.

The ‌governor said ‌policy ⁠tools and strong ⁠reserves provide the means to sustain disinflation, and that a rebalancing in domestic demand is ⁠expected to continue ‌supporting ‌the process.

Governor said ‌the central bank ‌will continue to monitor all factors affecting the inflation outlook.

Loan ‌growth is moving toward a more ⁠balanced ⁠path, the governor said, citing the latest policy measures.

Strong reserves alongside policy tools act as buffers against geopolitical risks to disinflation.