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EMERGING MARKETS: Global news: October 01

EMERGING MARKETS
  • MIDEAST (MNI) – A spokesman for the Israeli military has confirmed the ongoing ground operation into southern Lebanon, claiming that the raids "target Hezbollah strongholds along the border". The ground operation got underway some time ago, with the IDF confirming 'low signature operations' were being undertaken by special forces before the main ground assault began overnight. The IDF claims that this ground assault will be "limited, localised and targeted" intended to destroy Hezbollah's ability to fire rockets and missiles across the border.
  • US – Dockworkers have walked out of every major port on the US East and Gulf coasts, marking the beginning of a strike that could ripple through the economy and cause political turmoil just weeks before the presidential election. The affected ports have the combined capacity to handle as much as half of all US trade volumes, and the strike will halt container cargo and auto shipments. Energy supplies and bulk cargo won’t be affected.
  • ECB – The direction of the ECB’s monetary policy is “clear” but any future decision on easing will hinge on data, according to Governing Council member Olli Rehn. “Interest-rate cuts have now started and the ECB’s monetary-policy stance is becoming less restrictive,” the Finnish central-bank chief said Tuesday, without specifying whether that means a reduction this month is on the cards.
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  • MIDEAST (MNI) – A spokesman for the Israeli military has confirmed the ongoing ground operation into southern Lebanon, claiming that the raids "target Hezbollah strongholds along the border". The ground operation got underway some time ago, with the IDF confirming 'low signature operations' were being undertaken by special forces before the main ground assault began overnight. The IDF claims that this ground assault will be "limited, localised and targeted" intended to destroy Hezbollah's ability to fire rockets and missiles across the border.
  • US – Dockworkers have walked out of every major port on the US East and Gulf coasts, marking the beginning of a strike that could ripple through the economy and cause political turmoil just weeks before the presidential election. The affected ports have the combined capacity to handle as much as half of all US trade volumes, and the strike will halt container cargo and auto shipments. Energy supplies and bulk cargo won’t be affected.
  • ECB – The direction of the ECB’s monetary policy is “clear” but any future decision on easing will hinge on data, according to Governing Council member Olli Rehn. “Interest-rate cuts have now started and the ECB’s monetary-policy stance is becoming less restrictive,” the Finnish central-bank chief said Tuesday, without specifying whether that means a reduction this month is on the cards.