Morning Briefing: Sept. 9, 2023

Here's a rundown of all the news you need to start your Saturday, including powerful earthquake in Morocco, the G-20 summit in New Delhi and national strike of airport personnel in Italy.

TOP STORIES

• Nearly 300 killed in powerful earthquake in Morocco

At least 296 people were killed and 153 sustained injuries following a powerful earthquake that struck Morocco, the country's Interior Ministry said.

Fatalities from the magnitude 7 quake occurred in various regions, including Al Haouz and Marrakesh provinces, as well as the cities of Ouarzazate, Azilal, Chichaoua and Taroudant, Morocco's Royal Armed Forces wrote on X, citing the interior minister.

• India hosts G-20 summit in absence of Russian, Chinese leaders

India is hosting the two-day summit of G-20 leaders in the capital New Delhi under the theme, One Earth, One Family, One Future.

During the meeting, G-20 leaders, in absence of Russian President Vladimir Putin and Chinese President Xi Jinping, will exchange views in three sessions, hoping to make progress on trade, climate, and other global problems.

The summit is being held at the newly inaugurated Pragati Maidan conference center at the Bharat Mandapam culture corridor, where a statue of Nataraja, the Hindu God of dance, as an important symbol of cosmic energy, creativity, and power – is located.

• Many flights canceled as airport personnel go on strike in Italy

A national strike of airport personnel led to the cancellation of many flights in Italy, airlines and airport authorities said.

At Milan’s Malpensa airport, 60 flights were canceled, while at Linate, the other airport of the northern city, 20 flights were canceled, the airports said. In Venice, another 20 flights appeared to be cancelled.

Twelve flights at Catania airport were canceled, while another eight delayed.

National carrier ITA Airways said it canceled 30 national flights scheduled for Friday, 11 of which were from Rome’s Fiumicino airport.

NEWS IN BRIEF

• At least one person died as heavy rainfall pounded Hong Kong.
• At least 49 civilians and 15 soldiers were killed in two separate terrorist attacks in Mali.
• Britain commemorated the late Queen Elizabeth II on the first anniversary of her passing.
• Peter Navarro, a trade adviser under former President Donald Trump, found guilty of two misdemeanor counts of contempt of Congress.
• The EU granted Türkiye’s special Milas Yagli Zeytini olives the status of Protected Designation of Origin.
• An employee of Germany’s foreign intelligence agency (BND) and an alleged accomplice charged with treason for leaking secret information to the Russian intelligence agency.
• The death toll from Storm Daniel in Greece has reached 10, with at least four individuals still reported as missing.
• The Metropolitan Police announced a reward of up to £20,000 for information leading to the arrest of a former soldier suspected of terror offenses who escaped from a London prison.
• The Danish army said 10 out of the 100 Leopard 1 tanks donated by Denmark, the Netherlands, and Germany arrived in Ukraine.
• Russia summoned the ambassador of long-time ally Armenia and handed him a diplomatic note about a series of "unfriendly" steps, including Yerevan's joint military exercises with the US.
• A cease-fire agreement between warring Palestinian groups in the Ein el-Hilweh refugee camp in southern Lebanon was reached a day after an armed conflict that left 20 people injured.
• The Myanmar junta restricted exports to Bangladesh through ports after Bangladeshi banks froze the accounts of two Myanmar state banks.

SPORTS

• Bogdanovic-led Serbia beat Canada to reach FIBA Basketball World Cup final

Serbia qualified for the 2023 FIBA Basketball World Cup final with a 95-86 win against Canada.

Bogdan Bogdanovic, a Serbian shooting guard, was his team's top scorer with 23 points in a semifinal clash at the Manila Mall Of Asia Arena in Pasay, Philippines.

Serbia, the 2014 World Cup silver medalists, were on a 52-39 lead before the halftime break. They generally controlled the third and the fourth quarter to book their place in Sunday's final.

Serbia's Ognjen Dobric and Nikola Milutinov scored 16 points each to help their nation against Canada. Milutinov also grabbed 10 rebounds to post a double-double.

• Türkiye draw 1-1 against Armenia in EURO 2024 qualifying

Türkiye were held to a 1-1 draw against Armenia in Group D of the EURO 2024 qualifying round.

Neither team was able to break the deadlock in the first half at the New Eskisehir Stadium.

Armenia scored with a close-range finish from Artak Dashyan in the 49th minute.

Türkiye leveled when Bertug Yildirim nailed a long-range finish in the 88th minute.

The Turkish national team are atop the group with 10 points after five matches. Armenia are third with seven points in four games.

BUSINESS & ECONOMY

• Fitch revises Türkiye's outlook from negative to stable

The Fitch credit ratings agency revised Türkiye's outlook from "negative" to "stable" and affirmed its “B“ rating.

“The revision of the Outlook to Stable reflects the return to a more conventional and consistent policy mix that reduces near-term macro-financial stability risks and eases balance of payments pressures," Fitch analysts said in a note.

"There is still uncertainty regarding the magnitude, longevity and success of the policy adjustment to bring down inflation, partly due to political considerations."

Fitch forecast that the Turkish central bank will lift its policy rate to 35% by the end of 2023 and remain at that level in 2024, while also noting the "high degree of uncertainty about the future pace and duration of monetary policy tightening."

• Global food prices down in August

Global food prices fell 2.1% month-on-month in August, while rice prices increased 9.8% to a 15-year high, the UN Food and Agriculture Organization (FAO) announced.

Cereal prices dropped by 0.7%, while wheat prices down by 3.8% owing to "higher seasonal availability from ongoing harvests in several leading exporters in the northern hemisphere," the FAO said.

It added that rice prices soared due to "trade disruptions registered in the aftermath of India's July ban on Indica white rice exports."

Prices for vegetable oils fell by 3.1%, reflecting lower global prices for palm, sunflower, soy, and rapeseed oils.