Escalating Conflict in Eastern Congo and Global Economic Developments on February 3, 2025

Residents of Goma, in the eastern Democratic Republic of Congo (DRC), are caught in crossfire between M23 rebels and the Congolese Army, which is struggling to maintain control of the city. The provincial capital of North Kivu has been occupied by the rebel group, which is gaining ground in the region.

Ghislaine Kasenge, a local resident, reported being shot at by a soldier attempting to extort money from her husband. The conflict has deeply affected families, with many experiencing heightened anxiety and distress. Reports indicate that thousands of displaced individuals fear returning home due to potential violence and sexual assault, despite rebel assurances.

In the wake of the conflict, the DRC's Ministry of Health announced over 700 bodies in morgues around Goma and nearly 3,000 injuries recorded. International criticism of Rwanda's alleged support for M23 has intensified, with calls for a ceasefire growing louder.

In a separate development, Bill Winters, CEO of Standard Chartered Plc, is scheduled to visit India this week to strengthen the bank's presence in the South Asian market. This visit coincides with the launch of a global wealth campaign in India, during which Winters will meet with key clients.

Additionally, U.S. Secretary of State Marco Rubio oversaw a deportation flight from Panama to Colombia, emphasizing the U.S. administration's migration policy focus. This flight involved 43 Colombians and highlighted Panama's efforts to manage migration through the Darien Gap, an initiative that began under the previous administration.

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