Outrage over fresh incidents of Quran burning, All eyes on Fed rate, and more, Gulf News Editors comment on July 26 trending news

OUTRAGE OVER QURAN BURNING: The burning of copies of the Qur’an in Sweden and Denmark has drawn severe criticism from various quarters. The UAE has strongly condemned the burning, urging the Danish government to take action and halt such extremist actions. Saudi Arabia also labeled these acts as a blatant violation of laws and customs, emphasising the need for international efforts to promote tolerance and moderation. In a time marked by hatred and bigotry, monitoring hate speech that disrupts peace and security becomes crucial. We must vehemently reject any attempt to justify such heinous acts under the guise of freedom of expression. (By Sadiq Shaban, Opinion Editor)

ALL EYES ON FED RATE: Federal Reserve policymakers are poised to raise interest rates to the highest level in over two decades. The Federal Open Market Committee is expected to raise rates a quarter point to the 5.25%-5.5% range, an 11th increase since early 2022. While inflation pressures have eased, there are indications that another rate hike may be on the horizon following this week's meeting. The central bank's goal in raising interest rates is to discourage borrowing and spending in order to control the CPI. When Fed rate hikes make borrowing money more expensive, the cost of doing business rises for public and private companies. Over time, higher costs could mean lower revenues and earnings for firms. Even though the move will bring inflation under control, it will potentially impact the businesses’ growth rate. (By Nivetha Dayanand, Web Editor)

JUBILATION: Pakistani expat Suleiman Mahmood, 45, is basking in the joy of graduating from a flying school in the UAE — an accomplishment made all the more special as he shared this feat with his 17-year-old son Hashir. Suleiman, a once-120kg businessman, now transformed, takes immense pride in shedding those extra kgs before embarking on this extraordinary journey. Suleiman and Hashir are now proud graduates of the esteemed Fujairah Flying Academy. The father-and-son duo obtained their private pilot's licences earlier this month, a result of successfully completing the intensive six-month course. It is an example of what persistence brings to overcome self-imposed limits. Where aspirations in brilliance rise, there blooms a spirit fierce and bright — it’s called determination —taking one from the realm of dreams to endless skies. (By Jay Hilotin, Assistant Senior Editor)

THE DAY FOOTBALL STOLE THE LIMELIGHT IN PHILIPPINES: Football is not as popular as basketball or boxing in the Philippines but on Tuesday scores of Filipinos were glued to their TVs as women's football made history in their country. The Philippines women's football team stunned co-hosts New Zealand after Sarina Bolden scored the only goal of the match, triggering wild celebrations up to 8,000km away. Hundreds of fans went berserk and some even cried after the country's first ever World Cup win in front of 32,357 fans in Wellington. Now they stare at another piece of history – which is to qualify for the Round-of-16. They will take on Norway in the final group match and they have to produce a massive upset victory. They also have a psychological edge given that Norway has not secured a win so far in this tournament. In the two World Cup matches they played, Norway suffered a loss against New Zealand and drew with Switzerland. Still it’s never going to be easy as Norway came into the tournament as one of the favourites in the tournament. However, regardless of the Philippines team accomplishing this feat or not, they have already made their country proud. (By Jai Prasad V Rai, Assistant Editor)