Israel’s defiance in Rafah

Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up here.Israel has no intention of stoppin [View in browser]( [Bloomberg]( Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up [here](. Israel has no intention of stopping its operations around Rafah. The country’s leaders say they won’t be deterred by an International Court of Justice ruling last Friday that most interpreted as [ordering a halt]( to military activities in the Gazan city. They argue the Hague-based institution [instead specified]( that actions causing the “physical destruction” of civilians must be stopped — and that Israel’s strategy and practices are already in line with that. Yet the [killing of at least 40 Palestinians]( — according to Gaza’s Hamas-run health ministry — in an Israeli airstrike at a camp yesterday has inflamed tensions further and undermined Prime Minister Benjamin Netanyahu’s insistence that the military is acting according to international law. WATCH: Israel is pressing ahead with its operations into Rafah. Michael Heath reports. Source: Bloomberg The Israeli military is investigating the incident and says the strike was aimed at “legitimate targets” in an area where Hamas was operating. International condemnation of Israel has been swift. The government of Ireland — which is set to [recognize a Palestinian state]( this month, against the wishes of Israel — said the attack of the camp was “barbaric.” Qatar, a key mediator between Israel and Hamas, added it would hinder talks to agree a cease-fire and get hostages released. Israel says Hamas remains a potent military force. Yesterday, for the first time in months, the Iran-backed group fired rockets as far as Tel Aviv. They caused little damage but forced residents to run to bomb shelters. Western powers increasingly say the war is damaging Israel’s long-term security and that Netanyahu needs to end the fighting and [focus on who’ll govern Gaza afterwards](. He and his government, though, seem unlikely to heed such calls until Hamas surrenders or they think it’s destroyed.— [Paul Wallace]( Medics with the bodies of Gazans killed in an Israeli strike on a camp for internally displaced Palestinians in Rafah yesterday. Photographer: Eyad Baba/AFP/Getty Images Global Must Reads South Africa’s elections this week could threaten hopes for an economic turnaround that’s slowly been building, with the economy having been on a cautious pro-growth path since President Cyril Ramaphosa took office in 2018. Opinion polls show his African National Congress is in danger of [losing its majority]( on Wednesday for the first time since Nelson Mandela led it to power in 1994, ending White-minority rule. The world economy is at risk from a glut of cheap Chinese exports, according to French Finance Minister Bruno Le Maire, who used [an interview]( with Bloomberg Television to join [a barrage of criticism]( of the government in Beijing from the Group of Seven. Meanwhile, China, Japan and South Korea [sought to revitalize cooperation]( at their first formal summit since 2019, with Premier Li Qiang looking to persuade his neighbors to work with Beijing on keeping supply chains stable. WATCH: Le Maire speaks to Bloomberg TV on the sidelines of the G-7 meeting of finance ministers and central bank governors in Stresa, Italy. Prime Minister Narendra Modi has spent billions on an upgrade of the India’s transport infrastructure, as well as big outlays on new data centers, fiber-optic lines and an expanded digital-payments system. The goal — along with reaping the political dividends — is to [push growth to new heights]( by boosting connectivity, cutting business costs and making India a more attractive destination for manufacturers and investors looking for an alternative to China. Volodymyr Zelenskiy is in Spain today for talks with Prime Minister Pedro Sanchez expected to yield a pledge of military aid. The Ukrainian president yesterday urged the leaders of the US and China to attend a summit to discuss his [peace blueprint](. As Russia builds up troop formations near Ukraine’s northeast border and steps up air attacks, manpower remains a problem for Kyiv despite a new [mobilization law]( lowering the age of the draft. Sudan’s army said it’s poised to receive weapons from Russia in return for letting Moscow establish a military fueling station on its Red Sea coast, stoking Western concerns over the Kremlin’s influence in the African country torn apart by civil war. The announcement comes as the Sudanese military [battles to regain swathes of territory]( lost to the Rapid Support Forces militia in a year-old conflict that may have killed as many as 150,000 people. Authorities in Papua New Guinea say more than 2,000 people may have been [buried in Friday’s landslide]( that swept over a remote village, media agencies reported, citing a letter to the United Nations. A leading female opposition lawmaker will challenge Tokyo Governor Yuriko Koike for control of the capital, setting up [a rare race between two women]( for one of the highest-profile posts in Japanese politics. Peruvian President Dina Boluarte’s approval rating fell to a new low, with only 5% of those polled indicating they support her amid [the nation’s political upheavals](. Gitanas Nauseda was elected to a second, five-year term as Lithuanian president, as voters in the Baltic nation [overwhelmingly backed continuity]( in foreign policy and a hard line on the threat from Russia. Washington Dispatch After [delivering an address]( at the Libertarian National Convention in Washington over the weekend, former President Donald Trump is preparing for the final act of a criminal trial in Manhattan — deliberations and a jury verdict. The jurors [must decide]( whether Trump falsified his company’s records to conceal a payment to Stormy Daniels, an adult-film star who testified that she had a sexual encounter with him in 2006. Prosecutors say the money was intended to prevent her account of what happened from coming out in the closing days of the 2016 election. Trump says that he never had sexual relations with Daniels and denies any wrongdoing. Trump’s lawyers have asked Justice Juan Merchan to dismiss the charges. But closing arguments by the prosecution and the defense will likely unfold tomorrow and the jury could get the case as soon as Wednesday. One person to watch today: President Joe Biden will deliver remarks marking Memorial Day at Arlington National Cemetery. [Sign up for the Washington Edition newsletter]( for more from the US capital and watch Balance of Power at 1 and 5 p.m. ET weekdays on Bloomberg Television. Chart of the Day Moscow is [stepping up its bid]( to control even more of the Russia’s grain industry, potentially giving it greater power over exports just as worries mount over global supply. Major Western merchants including Cargill and Viterra pulled back from Russia last year after government pressure to make way for local firms. Now, even the country’s top private trader is finding it tough to operate amid a spat with the state. That puts the market in the hands of fewer companies, and some that have or had links to the Kremlin. And Finally The six air-source heat pumps that England’s Chester Zoo installed to replace the oil boiler at its rhinoceros habitat faced a big test in November: the birth of a calf, Lumi. Initially, Emma Evison, who manages the rhino team at the 93-year-old visitor attraction and charity, was skeptical that they could meet the needs of [nine critically endangered eastern black rhinos](. Now, after seeing how the system performed when temperatures this past winter dropped as low as -5C (23F), she is a convert. The Chester Zoo in northwest England is home to nine critically endangered eastern black rhinos. Photographer: Nigel Spreadbury/courtesy of Chester Zoo Thanks to the 41 people who answered the Friday quiz and congratulations to Siddharth Singh, who was the first to name Spain as the country that recalled its ambassador from Buenos Aires over comments by Argentine President Javier Milei at a far-right rally. More from Bloomberg - Check out our [Bloomberg Investigates]( film series about untold stories and unraveled mysteries - [Bloomberg Opinion]( for a roundup of our most vital opinions on business, politics, economics, tech and more - [Next Africa](, a twice-weekly newsletter on where the continent stands now — and where it’s headed - [Economics Daily]( for what the changing landscape means for policy makers, investors and you - [Green Daily]( for the latest in climate news, zero-emission tech and green finance - Explore more newsletters at [Bloomberg.com](. Follow Us Like getting this newsletter? 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