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9 EDITORIAL BusinessToday is published every Thursday. The newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN EDITOR: PAUL COCKS BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 19.10.2023 I srael's relentless bombing and blockade of Gaza is despicable, in- humane and goes against the pre- cepts of international law. While Israel has every right to de- fend itself and go after Hamas mil- itants and their support structures following the heinous terrorist at- tacks of 7 October, it has no right to apply collective punishment on the more than two million people who live in Gaza. Unfortunately, Israel has interpret- ed the widespread solidarity shown to it in the aftermath of the Hamas attacks as a carte blanche to do as it pleases. The situation in Gaza has now de- veloped into a massive humanitari- an crisis that is causing numerous innocent victims and risks spark- ing regional unrest. Already, the bombing of a hospital in Gaza on Tuesday night has caused massive demonstrations in several capitals in the Middle East and beyond. It has become a moot point who is really to blame for the shameful bombing that killed more than 500 people. The region is standing on a preci- pice with the risk of a wider conflict involving Hezbollah in Lebanon and possibly Iran becoming a probability. The world must avoid a regional conflagration that could destabilise several countries in the Middle East, turning the whole region into a tin- der keg. The US, which has the strongest leverage on Israel, must flex its mus- cles and call for maximum restraint by Israel as it prepares for a ground invasion of Gaza. In the immediate, the US must insist on the lifting of the Gaza siege and secure human- itarian corridors to allow medical supplies and other basic goods and services to reach ordinary citizens. While talking about lasting peace at this juncture is of little value, giv- en the emergency humanitarian sit- uation, the continued sporadic firing of rockets by Hamas into Israel and Israeli reprisals, it is only a renewed political process that can resolve the decades-old conflict. From a European perspective, the EU must speak with one voice, as it adopts a more balanced approach that condemns Hamas's attacks while calling on Israel to respect in- ternational law in the way it defends itself. With the conflict in Ukraine still raging, the EU cannot afford having a second conflict in its Mediterrane- an neighbourhood that risks blowing up into something much bigger. Every effort must be made for the EU to pressure Israel into lifting the Gaza blockade and exert maximum caution not to target civilians. The EU must also ensure that it re- mains an aid donor to Palestinians, making sure the money does not reach Hamas operatives. However, the EU must also be vig- ilant and ensure internal security is beefed up to stem any actions by radicalised youth in response to Is- rael's punishment of Palestinians liv- ing in Gaza. But the EU with other partners in the region and beyond must seek a long-term solution that would see the creation of an independent and viable Palestinian state alongside Is- rael. The EU must work to apply pres- sure on Israel and the Palestinian Authority to start a sincere dialogue on a long-term solution. The world does not afford to see the Gaza conflict spread to other coun- tries. It is only political dialogue held in good faith that will eventually lead to peace and justice even though this seems a very remote possibility at this juncture. In all this, Malta can offer to serve as an honest broker between the warring sides. Avoiding a regional conflagration n August 2023, the seasonally adjusted volume of retail trade decreased by 1.2% in the euro area and by 0.9% in the EU, compared with July 2023, according to estimates from Eurostat, the statistical office of the European Union. In July 2023, the retail trade volume decreased by 0.1% both in the euro area and in the EU. In August 2023 compared with August 2022, the calendar adjusted retail sales index decreased by 2.1% in the euro area and by 2.0% in the EU. In the euro area in August 2023, compared with July 2023, the volume of retail trade decreased by 3.0% for automotive fuels, by 1.2% for food, drinks and tobacco and by 0.9% for non-food products. In the EU, the volume of retail trade decreased by 2.4% for automotive fuels, by 0.9% for food, drinks and tobacco and by 0.6% for non-food products. Retail Price Volume DID U KNOW?

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