Jerusalem’s Light Rail Project Sparks Controversy

Pedestrians walk as a light rail tram passes by in Jerusalem November 11, 2014. (Reuters)
Pedestrians walk as a light rail tram passes by in Jerusalem November 11, 2014. (Reuters)
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Jerusalem’s Light Rail Project Sparks Controversy

Pedestrians walk as a light rail tram passes by in Jerusalem November 11, 2014. (Reuters)
Pedestrians walk as a light rail tram passes by in Jerusalem November 11, 2014. (Reuters)

The Palestinian Authority (PA) asked the government of Spain to prevent a Spanish company from participating in constructing infrastructure on occupied territories.

Construcciones y Auxiliar de Ferrocarriles (CAF) won a tender earlier this year to build a part of the Jerusalem tram project.

Sources at the Spanish international news agency, EFE, revealed that the PA vocally expressed its disapproval of the manufacturer taking part in the project, which will cut deep into occupied territory.

The tram is set to connect Israeli settlements in east Jerusalem to occupied territories in the West Bank.

In Jerusalem, where Israel has been occupying the eastern part since 1967, there is an already operational tram line in service since 2011, and which has already sparked controversy for linking Jewish settlements in East Jerusalem with West Jerusalem.

The new project will include the construction of 114 new trams and the rehabilitation of 46 units that are currently operational.

However, Palestinians are urging the Spanish company to withdraw from the project because of its impact on the occupied territories and warned that the continuation of this work may violate international law.

“Any attempt by any company to do business in the occupied territories would be violating international law,” former PA foreign minister Nasser al-Qudwa had said.

He clarified that if CAF does not rollback its participation it will be faced with multiple lawsuits.



Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
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Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and the prospect of fewer US interest rate cuts offset support from rising geopolitical risks in the Middle East.

Spot gold slipped 0.8% to $3,333.99 an ounce, as of 0604 GMT, and was down 2.5% for the week so far.

US gold futures shed 1.4% to $3,361.80.

Describing the situation in the Middle East as "fluid", Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, said it is causing traders to avoid taking aggressive positions both on the long and the short side of the trade spectrum, reported Reuters.

US President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to come to the negotiating table.

Meanwhile, Trump reiterated his calls for the US Federal Reserve to cut interest rates, saying it should be 2.5 percentage points lower.

The Fed held rates steady on Wednesday, and policymakers retained projections for two quarter-point rate cuts this year.

"Macroeconomic developments, particularly steady yields and renewed USD strength, have not supported the (gold) price," analysts at ANZ said in a note.

"Rising inflation expectations and the Fed's cautious stance have weighed on market expectations around the number of rate cuts this year."

The dollar was set to log its biggest weekly rise in over a month on Friday. A stronger greenback makes gold more expensive for other currency holders.

Elsewhere, spot silver slipped 2.1% to $35.61 per ounce, while palladium fell 0.8% to $1,042.04. Platinum fell 1.9% to $1,282.72, but was heading for its third straight weekly rise.