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Longtime investor Bill Gross believes Elon Musk’s Tesla is behaving like a speculative play among retail investors.

“Tesla acting like a meme stock — sagging fundamentals, straight up price action,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon on X. “But then there seems to be a new meme stock every other day now. Most are pump and dump.”

Tesla is on a stunning 10-day winning streak, up a whopping 43.6% since June 24. The rally was initially triggered by Tesla’s second-quarter vehicle production and deliveries numbers that beat analyst expectations.

Gross, who at one time was the most influential investor in the U.S. bond market, seems to think that the strong delivery report wasn’t enough to justify such an eye-popping run.

The 80-year-old investor also compared Tesla with Chewy, Zapp and the “old favorite” GameStop. Chewy recently gained meme status after online personality Roaring Kitty, who inspired 2021′s GameStop mania, bought a sizable stake in the pet retailer.

Gross revealed previously that he dabbled in trading GameStop and AMC options for quick profits in 2022, calling those “lottery ticket stocks.”

Shares of Tesla are still up just about 6% year to date, lagging the S&P 500, which has gained 17%.

This post appeared first on NBC NEWS

The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher.

The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an all-time high and ending at 18,647.45. It was the 37th record close in 2024 for the S&P 500, and the 27th for the tech-heavy Nasdaq. The Dow Jones Industrial Average added 429.39 points, or 1.09%, to close at 39,721.36.

Chip stocks were among the largest winners of the session. Taiwan Semiconductor added 3.5% after revenue from April to June came in ahead of Wall Street estimates. Peer chip firm Qualcomm ticked higher by 0.8%, and Broadcom rose about 0.7%. Artificial intelligence darling Nvidia climbed 2.7%.

Those moves come as investors await fresh inflation figures on Thursday with the release of the June consumer price index report. The data follows comments from Federal Reserve Chair Jerome Powell on Tuesday and Wednesday that has fueled investor hopes for a rate cut in the second half of the year.

“There are some things out there that look kind of frothy, but there’s no indication yet that [megacap technology] earnings can’t support those valuations,” said Scott Welch, chief investment officer at Certuity. “It’s important to remember that seven to 10 stocks constitute 30% to 40% of the S&P 500 market cap … if there’s any slippage it’s going to have an amplified effect.”

Economists polled by Dow Jones expect a 0.1% month-over-month advance and a 3.1% year-on-year gain. Core CPI, which excludes energy and food prices, is forecast to have expanded 0.2% from the prior month and 3.4% from a year earlier. The producer price index is set for release Friday.

This post appeared first on NBC NEWS

Federal Reserve Chair Jerome Powell on Tuesday expressed concern that holding interest rates too high for too long could jeopardize economic growth.

Setting the stage for a two-day appearance on Capitol Hill this week, the central bank leader said the economy remains strong as does the labor market, despite some recent cooling. Powell cited some easing in inflation, which he said policymakers stay resolute in bringing down to their 2% goal.

“At the same time, in light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face,” he said in prepared remarks. “Reducing policy restraint too late or too little could unduly weaken economic activity and employment.”

The commentary coincides with the approaching anniversary of the last time the Federal Open Market Committee raised benchmark interest rates.

The Fed’s overnight borrowing rate currently sits in a rage of 5.25%-5.50%, the highest level in some 23 years and the product of 11 consecutive hikes after inflation hit its highest level since the early 1980s.

Markets expect the Fed to begin cutting rates in September and likely following up with another quarter percentage point reduction by the end of the year. FOMC members at their June meeting, however, indicated just one cut.

In recent days, Powell and his colleagues have indicated that inflation data has been somewhat encouraging after a surprise jump to start the year. Inflation as judged by the Fed’s preferred personal consumption expenditures price index was at 2.6% in May after peaking above 7% in June 2022.

“After a lack of progress toward our 2 percent inflation objective in the early part of this year, the most recent monthly readings have shown modest further progress,” Powell said. “More good data would strengthen our confidence that inflation is moving sustainably toward 2 percent.”

The statement is part of congressionally mandated semiannual updates on monetary policy. After delivering the remarks, Powell will face questioning from Senate Banking Committee members on Tuesday, then the House Financial Services Committee on Wednesday.

In past appearances, Powell has veered away from making dramatic policy announcements while having to dodge politically loaded questions from committee members. The questioning could get contentious this year as Washington is on edge amid a volatile presidential campaign.

Several Democratic committee members urged Powell to lower rates soon.

“I’m concerned that if the Fed waits too long to lower rates, the Fed could undo the undo the progress we’ve made on creating good paying jobs,” Sen. Sherrod Brown, D-Ohio, the committee chair, told Powell. “If unemployment trends upward, you must act immediately to protect Americans jobs. Workers have too much to lose if the Fed overshoots [its] inflation target and causes a completely unnecessary recession.”

However, Powell has stressed that the Fed is not political and does not get involved in taking policy sides outside of its own roles. In his prepared remarks, he emphasized the importance of “the operational independence that is needed” for the Fed to do its job.

His other remarks focused squarely on the stance of policy in relation to the broader economy. Recent data has shown the unemployment rate creeping higher and broad growth as measured by gross domestic product receding. Both the manufacturing and services sectors reported being in contraction during June.

But Powell said the data is showing that “the U.S. economy continues to expand at a solid pace” despite the deceleration in GDP.

“Private domestic demand remains robust, however, with slower but still-solid increases in consumer spending,” he said.

This post appeared first on NBC NEWS

Russia has promised to discharge Indian nationals who were “misled” into joining its army to fight in Ukraine, India’s foreign secretary said Tuesday.

Indian Prime Minister Narendra Modi “strongly raised the issue of early discharge” to Russian President Vladimir Putin during his two-day trip to Moscow this week, stressing the need to bring all Indians home “as early as possible,” Foreign Secretary Vinay Mohan Kwatra told reporters in a news briefing.

“The Russian side promised the early discharge of all Indian nationals from the service of the Russian army,” he said.

By some estimates, Russia has been sending thousands of foreign men to fight in Ukraine since Putin ordered the full-scale invasion of its southwestern neighbor in February 2022.

Many of them are young men from South Asia, enticed by the prospect of steady employment and higher salaries in Russia. In Nepal, prominent opposition lawmaker and former foreign minister Bimala Rai Paudyal told parliament earlier this year that between 14,000 and 15,000 Nepalis were fighting on the front lines, citing testimony from men returning from Ukraine.

The Russian government last year announced a lucrative package for foreign fighters to join the country’s military, including a monthly salary of at least $2,000 and a fast track to Russian citizenship – but the Kremlin has not said how many foreigners it has recruited under the plan.

In early March, India’s Central Bureau of Investigation (CBI) said it had busted major human trafficking networks that were duping men into Russian military jobs, with 35 such cases identified.

“The trafficked Indian Nationals were trained in combat roles and deployed at front bases in Russia-Ukraine War Zone against their wishes,” the CBI statement said.

Speaking to reporters on Tuesday, Kwatra said he does know the precise number of Indians recruited to fight for Russia in Ukraine, but anticipates it is between 35 and 50 people.

Of those, 10 Indian nationals have already returned to India, he said.

“Now, the two sides will work on it and see how expeditiously we can get them back into the country,” Kwatra said.

India has no law preventing its citizens from serving in a foreign state’s military.

Imran Mohammad said an employment agency had enticed his brother Asfan Mohammed with an offer for helper and security jobs in the Russian army, saying he could get a Russian passport and national card within a year.

Instead, Asfan was sent to the battlefield in Ukraine and was killed in combat.

“These brokers duped the boys and put their lives in danger,” Imran said, referring to Asfan and other Indians sent to war.

In neighboring Nepal, lawmakers have called on the Russian authorities to provide figures for its nationals fighting in Ukraine.

“It’s the Nepalis and other foreign fighters that are actually fighting in the front of war zones. The Russians position themselves a few hundred meters back as support,” said Suman Tamang, after he returned from Russia.

The Nepalis who fought for Russia said they had received only brief training before being sent into combat.

“I didn’t join the Russian military for pleasure. I didn’t have any job opportunities in Nepal. But in hindsight, it wasn’t the right decision,” Khadka said. “We didn’t realize we would be sent to the front lines that quickly and how horrible the situation would be.”

This post appeared first on cnn.com

Ukraine’s largest children’s hospital likely took a direct hit from a Russian missile on Monday, a United Nations assessment has found, as NATO agreed to strengthen Kyiv’s air defenses in the wake of the attack.

Russia has repeatedly denied targeting the hospital in Kyiv and alleged, without evidence, that a Ukrainian anti-aircraft missile caused the blast. But a UN human rights official said evidence suggested Moscow’s forces were responsible for the deadly strike.

“Analysis of the video footage and assessment made at the incident site indicates a high likelihood that the children’s hospital suffered a direct hit rather than receiving damages due to an intercepted weapons system,” Danielle Bell, head of the UN’s Human Rights Monitoring Mission in Ukraine, told reporters Tuesday.

Bell said the attack damaged the intensive care, surgical and oncology wards at Kyiv’s Okhmatdyt hospital, which has been vital in the care of some of the sickest children from across the country, adding that Ukrainian officials have since transferred 600 children to other hospitals.

“This terrible attack shows that nowhere is safe in Ukraine,” Bell added.

Two adults were killed in the strike and 16 others – including seven children – were injured, according to Ukrainian officials, as Russia launched a brazen daytime aerial assault on targets in cities across Ukraine during morning rush hour, killing at least 43 people in total.

The strikes across Ukraine were “strongly” condemned by UN Secretary General Antonio Guterres, while the UN’s human rights chief Volker Turk called for “prompt, thorough and independent investigations” into the attacks.

The Russian attacks came as NATO leaders gathered in Washington, where the United States and NATO allies agreed to give Ukraine more Patriot batteries and additional systems to strengthen Kyiv’s air defenses, members of the defense alliance said in a joint statement on Tuesday.

US President Joe Biden also announced plans to supply new air defenses to Ukraine in a speech opening the NATO summit – providing much-needed support for the country at a critical juncture in its defense against Russia’s invasion.

During his speech on Tuesday, Biden vowed that “the United States will make sure that when we export critical air defense interceptors, Ukraine goes to the front of the line.”

‘Targeted attack by Russia’

Images and video from the aftermath of the strike on the Kyiv hospital show children with cancer being treated outside the facility and an injured toddler with blood on his face and arms.

The UN’s monitoring mission said it was likely that a KH-101 cruise missile launched by Russia struck the children’s hospital. It made the determination “based on video footage, which shows the technical specification of the type of weapon that was used” and that such footage “shows the weapon directly impacting the hospital rather than being intercepted in the air,” Bell said.

A military expert who visited the site following the blast said the damage is “consistent with a direct hit,” according to Bell.

Ukrainian President Volodymyr Zelensky said in Washington on Tuesday that “Russia always knows where its missiles hit. Always.”

On Tuesday, Russia’s UN Ambassador Vassily Nebenzia reiterated Moscow’s denial that it had targeted the children’s hospital.

“We have not bombed the children’s hospital,” Nebenzia said at a special meeting of the UN Security Council (UNSC) convened following the attack. “If this had been a Russian strike, there would have been nothing left of the building at all. All the children and most of the adults would have been killed, not wounded.”

But the US also blamed Russia for the hospital strike. US Ambassador to the UN Linda Thomas-Greenfield told the UNSC meeting that the Russian “attack makes abundantly clear: Putin is not interested in peace.”

Kyiv described the strike as a “targeted attack by Russia,” with the Ukrainian State Security Service (SBU) saying a Russian long-range cruise missile struck the facility.

“Relevant evidence has already been found at the scene of the tragedy: in particular, fragments of the rear part of the Kh-101 missile with a serial number and part of the steering wheel of the same missile,” the SBU said.

SBU chief Vasyl Maliuk vowed the agency would respond to what he said were Russian war crimes.

“This retribution will be both legal and moral,” he said.

This post appeared first on cnn.com

Listening to music, smoking hookah, and getting a Western-style haircut are all punishable acts under the suffocating rule of the Taliban in Afghanistan, according to a new UN report.

The Taliban’s so-called morality police have curtailed human rights – disproportionately targeting women and girls – creating a “climate of fear and intimidation,” said the report by the UN Assistance Mission in Afghanistan (UNAMA) published Tuesday.

The Ministry of the Propagation of Virtue and the Prevention of Vice (MPVPV), established by the Taliban when it seized power in 2021, is charged with legislating and enforcing the Taliban’s strict interpretations of Islamic law.

Those interpretations include a ban on activities deemed to be “un-Islamic” including displaying images of humans and animals and celebrating Valentine’s Day. Moreover, the report said, the Taliban’s instructions are issued in a variety of formats – often only verbally – and are inconsistently and unpredictably enforced.

When the Taliban returned to power in Afghanistan in August 2021 in a lightning takeover following the chaotic withdrawal of US-led troops after two decades of war, the radical Islamist group appeared keen to distance itself from its earlier period of rule in the 1990s, presenting itself as more moderate.

However, this report found many of the same rules of that era have been revived, despite the Taliban’s earlier pledge to honor women’s rights within the norms of “Islamic law.”

Between August 15, 2021, and March 31, 2024, the UN documented at least 1,033 instances where Taliban officers had used violence to enforce their rules.

“The de facto MPVPV reportedly has a broad mandate and various enforcement methods have been used, including verbal intimidation, arrests and detentions, ill treatment and public lashing,” said the report, which was compiled using public announcements and documented reports of human rights violations.

The Taliban’s violations against women and girls are so severe that one senior UN official recently said they could amount to “crimes against humanity.” This report details how the MPVPV is enforcing rules on the way women dress and access public places.

The Taliban has arbitrarily shuttered women-owned businesses, made it illegal for women to appear in movies, closed women’s beauty salons and restricted access to birth control, the UN report said.

Women in Afghanistan are not allowed to access parks, gyms and public baths – sometimes the only way to get hot water in the winter – and must be accompanied by a male guardian (a mahram) when traveling more than 78 kilometers (48.5 miles) from their homes, according to the report.

While women must wear a hijab, men must also follow rules about beard length and hairstyles.

In December 2023, the morality police closed 20 barbershops for one night after barbers allegedly shaved and trimmed beards, as well as Western-style haircuts, the report said. The Taliban denied claims two barbers were detained for two nights. The report said they were only released after promising not to give those haircuts again.

UN says Taliban is legally obligated to protect human rights

Afghanistan is party to seven international human rights instruments and as a result is legally obliged to protect and promote the human rights of its citizens, the UN report pointed out.

These rules violate a slew of human rights, from the right to work and attain a living, to the rights of freedom of movement and expression, to sexual and reproductive rights, the report added.

In a statement, the Taliban called the UN’s criticism “unfounded” and said the report’s authors were “attempting to evaluate Afghanistan from a Western perspective, which is incorrect.”

“Afghanistan should be assessed as a Muslim society, where the vast majority of the population are Muslims who have made significant sacrifices for the establishment of a Sharia system,” the statement said.

However, reports from Afghanistan suggest the Taliban’s repressive control over women has led to a sharp rise in suicide attempts.

Among the Taliban’s list of prohibitions, according to the report, is the public display of human and animal images, which it deems “un-Islamic.”

This law has resulted in the removal of advertising signage and the covering of shop mannequins, the report said. The UN reported some cases where NGOs were told to remove human images from materials meant to alert children or other people with limited literacy about the risk of unexploded artillery and other public health issues.

Media is heavily restricted, and residents live in a surveillance state, the report added.

“People’s right to privacy is violated through searches for prohibited items in their phone or cars, having their attendance at mosques recorded, or being required to show proof of family relationship in public places.”

The Taliban met with top UN officials and global envoys in Qatar in June in a two-day conference that excluded Afghan women, sparking outcry from human rights groups.

In a press conference after the meeting, Rosemary DiCarlo, the UN’s under-secretary-general for political and peacebuilding affairs, called the discussions “frank” and “useful,” and said that the “concerns and views of Afghan women and civil society were front and center.”

This was the third UN meeting about Afghanistan in Doha, but the first the Taliban has attended.

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A former soldier who was sexually assaulted while serving in Japan’s military has reached a civil settlement with three of her convicted attackers in a case that exposed a widespread culture of harassment in the country’s self-defense force.

The settlement, initiated by the three former soldiers who were found guilty of sexual assault by a Japanese court in December, includes them apologizing and paying a sum of money, Rina Gonoi said on her X account on Tuesday. She did not disclose the amount of money involved.

“Today, I would like to announce that a settlement has been reached in the civil trial with the three perpetrators who were found guilty in the criminal trial,” Gonoi said.

Gonoi pursued both criminal and civil cases in the courts, including the civil lawsuit in which she is seeking compensation from the government and five former members of the Japan Self-Defense Force (JSDF) for emotional stress caused by sexual abuse, public broadcaster NHK reported.

“I am relieved that the three years of fighting came to an end and I’m feeling three years’ worth of exhaustion all at once, but I will take care not to get sick,” Gonoi said on her Instagram account on Tuesday night.

She had previously reached a settlement with another of the five former members of the JSDF in the civil case, and the trial will continue against the government and the remaining former members, NHK reported.

Gonoi said she endured physical and verbal sexual abuse on a daily basis for more than a year while serving in the JSDF, and vowed to bring her tormentors to justice when she left the military in June 2022.

Authorities initially seemed unwilling to believe her but Gonoi’s refusal to be silenced eventually prompted prosecutors to reopen investigations in a sweeping probe into sexual harassment across the JSDF.

The broad investigation led by Japan’s defense ministry found that Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021.

Japan’s struggles with gender inequality, which were highlighted during the #MeToo campaign, are well documented. The country ranks bottom of all G7 nations and 125th out of 146 countries in the World Economic Forum’s index for gender inequality.

Not backing down

As a child, Gonoi said she saw JSDF members as heroes. She grew up wanting to be like them after women officers in particular came to her rescue following the deadly 2011 Tohoku earthquake and tsunami that decimated her hometown of Higashi-Matsushima in Japan’s northern prefecture of Miyagi.

“They’d comment on my body and the size of my breasts. Or they’d come up to me in the hallways and suddenly hug me in the corridor. That kind of thing happened daily,” Gonoi recalled of her time in the station.

The last straw came in August 2021, when Gonoi said she was pinned to a dormitory floor as several senior male officers simulated sexual intercourse. It was this incident that convinced her to report her assailants.

When she reported the alleged abuse to military authorities, two investigations were launched, but both were dropped on grounds of a lack of evidence – prompting her to take the battle to social media.

Going public was a rare move in a country where sexual assault survivors can face backlash for raising their voices.

But it paid off, as the social media scrutiny pressured the JSDF into a rethink.

The defense ministry eventually launched a broad investigation into sexual harassment across the JSDF that found Gonoi had suffered physical and verbal sexual harassment daily between late 2020 and August 2021.

The case reached the highest levels, with Japanese Prime Minister Fumio Kishida saying during a parliamentary meeting in October 2022 that he understood sexual harassment cases were handled inappropriately by the JSDF and the ministry.

Last December, a Japanese court ruled that the three men had committed forcible indecency against Gonoi.

The court sentenced the trio to two years in prison with a suspended sentence, NHK reported, which could allow them to avoid jail time if they do not commit a crime over a two-year period.

The landmark decision was an encouraging sign but “the country still has a long way to go to change both the criminal justice system and the culture of victim-blaming that undermines the credibility of survivors,” according to Amnesty International’s East Asia researcher Boram Jang.

“Rina Gonoi dared to speak out to break the cycle of impunity for gender-based violence in Japan. This is a rare victory not just for her, but for all victims and survivors of sexual assault in Japan, many of whom suffer in silence,” Jang said in a statement after the ruling.

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At least two people have been killed after dozens of projectiles were fired from Lebanon at the Israeli-controlled Golan Heights on Tuesday evening, according to Israeli authorities.

A woman and man were “killed on the spot” when a projectile directly hit their vehicle, according to Israeli police.

“Several projectiles were identified falling in the area,” the Israel Defense Forces (IDF) added in a statement following sirens in the Golan Heights.

Magen David Adom paramedics described responding to a “difficult” scene.

“We saw a vehicle that suffered a direct hit, and in its front were an unconscious man and woman who were critically injured. During the medical treatment, additional sirens were activated,” the medics said in a statement.

“We ran to protect ourselves and handled the incident as sirens went off. Military personnel assisted on the scene.”

Firefighters said they were responding to at least eight fires following the projectile hits.

Hezbollah has not yet publicly commented on the strikes.

Cross-border fire between Israel and Iran-backed Hezbollah has been an almost daily occurrence since the war in Gaza began. But it has been gradually intensifying, raising fears it could escalate into a full-blown conflict.

Hezbollah is one of the most powerful paramilitary forces in the Middle East, boasting of tens of thousands of fighters and a vast missile arsenal.

The group has said its current round of fighting with Israel is to support Palestinians in Gaza.

This is a developing story and will be updated.

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The Rwandan government has hinted that it won’t reimburse more than $300 million it has received from the United Kingdom since 2022 for a deal to deport asylum seekers deemed to have arrived illegally in the UK to the East African nation.

A Rwandan government spokesperson said on Tuesday that its migrant deal with the UK did not include any “clause regarding reimbursement” after the newly-elected British Prime Minister Keir Starmer said that he would scrap the controversial agreement.

“Within the agreement there was no clause regarding reimbursement… it never stated that the money would be refunded,” spokesperson Alain Mukuralinda said in a video posted by state-owned Rwanda Broadcasting Agency.

“We had an agreement. Both parties signed, it became an international agreement, we start implementing it, then after that you want out … best of luck,” Mukuralinda said.

The UK has given Rwanda £240 million (around $307 million) so far as part of the deal, according to a fact sheet published by the British government in April this year.

Speaking at his first press conference as prime minister on Saturday, Starmer said he was “not prepared to continue” with the controversial deal to send asylum seekers to Rwanda, calling the scheme a “gimmick” and denying that the bill acted as a deterrent.

The controversial plan was first announced in April 2022 by the Conservative government at the time under Prime Minister Boris Johnson but faced a series of political and legal challenges as lawmakers and activists sought to scupper the legislation on human rights grounds.

After the bill was passed in April this year, former UK Prime Minister Rishi Sunak claimed the plan was introduced “to deter vulnerable migrants from making perilous crossings and break the business model of the criminal gangs who exploit them.”

The bill was condemned at the time by UN High Commissioner for Refugees Filippo Grandi who said the arrangement sought to “shift responsibility for refugee protection, undermining international cooperation and setting a worrying global precedent.”

Amnesty International UK also called the plan “a stain on this country’s moral reputation” that “takes a hatchet to international legal protections for some of the most vulnerable people in the world.”

Luke McGee and Rob Picheta in London contributed to this report

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For nearly two decades, the Israeli nonprofit Road to Recovery has transported sick Palestinians roundtrip from checkpoints in Gaza and the West Bank to Israel for medical treatment.

On October 7, during Hamas’ brutal attacks on Israel, several of the group’s volunteers were killed. Others were taken hostage.

Today, Road to Recovery’s work continues, and Roth feels that it is as crucial as ever.

“We … believe that patient transportation has far greater value than just humanitarian assistance,” Roth said. “It is an opportunity for us to show our Palestinian neighbors a different face than what they know in their reality. It is a chance for encounters that break down barriers and stigmas.”

On October 8, volunteers were waiting at checkpoints at the West Bank to pick up Palestinian patients and their families. The organization currently transports between 40 to 50 patients a day between the checkpoints and Israeli hospitals and medical providers.

Roth started this work in 2006 as a way to cope with personal tragedy. In 1993, his brother Udi was kidnapped and killed by members of Hamas. After his loss, Roth channeled his anger into peace.

The organization says it has since provided transportation to more than 50,000 sick Palestinians.

“Each trip is an opportunity to make a ‘small hour of peace.’” Roth said. “Especially now, just to show compassion and love. … This is the medicine for the hostility and for the hateness.”

Sometimes, the Israeli volunteer drivers and Palestinian passengers are able to communicate in Arabic, Hebrew, or English. When there’s no shared spoken language, they communicate through gestures, which Roth finds to be more powerful than words.

“If we really want one day normal life for us and for the Palestinians, we should make effort to achieve it,” Roth said. “It’s not just that you sit and you wait that something will happen. You have to do something. In the Bible, there is a phrase … that you ask for peace, and you have to run after the peace in order that it will happen. This is our mission.”

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