FT News Briefing Paris races to clean up Seine before Olympics
Nov 10, 2023
Amid mounting global tensions, Russia is significantly increasing its budget, adding economic strain. The ongoing conflict in Israel is also affecting its economy, with businesses feeling the pinch. Meanwhile, Spain's political landscape is heating up with a controversial amnesty deal for Catalan separatists. In a bid for a successful Olympic Games, Paris is racing against time to clean the Seine River, tackling both environmental concerns and infrastructure challenges to ensure the river is ready for athletes to swim.
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Russia's War Budget
- Russia's war in Ukraine is driving a significant increase in their budget, pushing up inflation and weakening their currency.
- This highlights the substantial financial burden of the ongoing conflict.
War's Impact on Israeli Economy
- The war between Israel and Hamas impacts Israel's economy with about 18% of the workforce affected.
- Construction is significantly impacted due to the reliance on Palestinian workers now restricted from entering Israel.
Businesses Affected by Conflict
- In Israel, one-third of businesses have closed or operate at significantly reduced capacity due to the ongoing conflict.
- The impact is more severe in the south, closer to Gaza.