_{Image Source: The Independent}

Suez Canal

A large Cargo ship is blocking traffic in the middle of the Suez Canal in Egypt as of Tuesday morning. Evergreen ship, meant to deliver goods between Asia and Europe shifted sideways where both the stern and the bow are touching either side of the canal walls. This is already having significant consequences on the world trade as 10% of global goods flow through that canal. An increasing number of cargo ships are lining up in the canal, awaiting to pass through. It is expected that these delays will go on for several days.

Israel

Israelis voted in their fourth elections in two years on Monday. Benjamin Netanyahu is hoping for a re-election and would like to avoid having a record breaking fifth election. Netanyahu’s Likud party has won 30 seats so far. That is much less than the 61 needed for a majority in the Knesset. His job now is to create a government that makes up the remainder of the 90 remaining seats. Although a few of the parties that won seats on the Right side of the political sphere are expected to through their support over to him, he could have as much as 59 seats by the time the election results are expected to be counted by Friday. Until then, there is no clear winner yet, but the job of forming a new government is once again an uphill battle for whomever is the winner.