Israeli, Palestinian Ministers Trade Blame For Stalled Peace Process
Jerusalem, Israel David Rosenberg – Israel Industry, Trade and Labor Minister Binyamin Ben-Eliezer and his Palestinian counterpart, Economic Minister Dr. Hassan Abu-Libdeh, sought to tackle a host of economic issues in a private meeting in Jerusalem on Wednesday, but the two agreed that economic cooperation couldn’t substitute for a peace agreement.
Speaking at a briefing organized by The Media Line’s Mideast Press Club, the two ministers traded blame for stalled negotiations. Ben-Eliezer urged Palestinians to drop their demands for a settlement freeze and resume talks immediately, saying Prime Minister Binyamin Netanyahu was sincerely interested in reaching a pact. Abu Libdeh cast doubt on the Israeli prime minister’s intentions.
“Mr. Netanyahu isn’t a man of peace. He was elected by right-wing Israelis. He wants everything, including a quasi-Palestinian state with no content at all,” Abu Libdeh told reporters at the briefing. “Sixty percent of the West Bank is reserved for settlements and other security activities.”
Ben-Eliezer, who belongs to the Labor Party, the most dovish of the parties in Netanyahu’s coalition government, defended the prime minister’s intentions. He warned that Israel and the Arab world had to resolve the Palestinian issue in order to face up to the threat to region posed by Iran.
“If I were [Palestinian Authority President Mahmoud Abbas], I would call Netanyahu tomorrow morning to come to Ramallah and address all the critical issues for the sake of all of our children,” Ben Eliezer said. “The question of a settlement freeze right now is marginal.”
The two sides resumed talks briefly in September under U.S. auspices, but the negotiations broke off after a temporary Israeli freeze on building in areas acquired in the 1967 war expired. Palestinians have conditioned further talks on a renewed freeze, but U.S. President Barack Obama has so far failed to find terms satisfactory to Israel.
But even as the two sides have so far failed to find a formula for reviving peace talks, the economies of Israel and the Palestinian areas have enjoyed strong growth. The International Monetary Fund forecasts Palestinian gross domestic product will expand 8 percent this year, boosted by large infusions of foreign assistance, while it expects Israeli GDP will grow 4 percent, led by exports.
Nevertheless, Palestinian economic prospects have been stymied by Israeli restrictions on the movement of goods and people. The two ministers met Wednesday to try and resolve some of these issues, including allowing Palestinian products to enter Israel more freely and removing obstacles to development of the Jenin industrial zone in the West Bank.
Ben-Eliezer said Israel would back the Palestinian Authority’s bid to get observer status at the World Trade Organization, the main global body dealing with the rules of trade between nations. The two, who last met in August, agreed to discuss economic and commercial matters on a regular basis.
Israel has imposed a blockade on the Gaza Strip since the Muslim fundamentalists group Hamas seized control of the enclave. Since June, Israel has eased some of its restrictions, allowing more goods to arrive and this week allowed the first fresh produce to leave Gaza for markets in Europe in a program that will allow Gaza farmers to export 700 tons of strawberries and 30 million carnations this season.
In the West Bank — where the Palestinian Authority with whom Israel is holding peace talks governs – Israel maintains hundreds of security checkpoints along the area’s roads, slowing the movement of people and goods.
But Ben-Eliezer told the briefing, which was attended by dozens of Israeli, Palestinian and foreign journalists, Israel had reduced its security presence in the West Bank. He said there were only 14 permanent roadblocks and that the number of other security measures, such as flying checkpoints, Israel imposes had fallen to about 300.
“What was two or three years ago and what is now, you can’t compare,” he said, noting that most of the work in suppressing terrorism is now being handled by PA security forces.
Felice Friedson, president and chief executive officer of The Media Line, told the briefing that Israelis and Palestinians must decide whether co-existence means economic cooperation or a parallel but separate economic life.
“There are glimpses of cooperation,” she said. “This week for instance, the story broke of Israel green-lighting the export of Gaza strawberries to the world markets. On the other hand, Bashar Al-Masri, the developer of Rawabi, the first Palestinian planned city, told me that he is still awaiting approval from Israel defense minister for the city’s access road.”
Abu-Libdeh defended a PA campaign to boycott Israeli communities in the West Bank. Palestinians violating the ban, including buying products made in the settlements and working in construction jobs, face up to five years in jail and fines of up to $14,000.
“We believe what we are doing is the right thing and we will continue to do the right thing,” he said about the boycott, in which he has taken a leading role. “We very much want to cooperate with Israel in terms of the economy and other spheres, but first we have to create the proper conditions for the two peoples to make pace.”
An estimated 22,000 Palestinians work in the settlements in factories, farms and in construction. Ben-Eliezer said he was “not pleased” with the boycott campaign, saying economic issues should be kept apart from politics, but didn’t say what steps Israel might take to counter it.
Commercial ties between the two sides have remained limited as Palestinian unrest during two intifadas caused Israel to prevent Palestinians from working in Israel and blocked trade to prevent terror attacks.
Even though Palestinians constitute a market of 4 million people right next door, Israeli companies sell very little to the West Bank and Gaza, according to a Bank of Israel study released last month.
Tax figures show Israeli businesses sold $3.2 billion worth of goods to the Palestinians in 2008, which would make the West Bank and Gaza a bigger market for Israel than any single European country. In fact, about 60 percent of that $3.2 billion is imported goods trucked into Palestinian areas by Israeli companies, the Central Bank said. The Palestinian market accounts for just 0.15 percent of Israeli GDP and for 3,000 jobs, it estimated.
The West Bank and Gaza had exports of $500 million to Israel in 2008, the last year figures are available from the Palestine Central Bureau of Statistics.
The Mideast Press Club seeks to advance professional and personal relationships between Israeli and Palestinian journalists through programs, master classes and incentives for the study of journalism and the enhancement of coverage of the Middle East.
Heading into its sixth year, the Mideast Press Club is an initiative of The Media Line, a non-profit American news agency specializing in coverage of the Middle East and journalistic education
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EU sets tougher rules for banks
Crisis-hit banks seeking state
aid next year will have to overhaul their operations as part of
a strategy to wean them off state support, the European Union’s
competition chief said on Wednesday. |||
Crisis-hit banks seeking state
aid next year will have to overhaul their operations as part of
a strategy to wean them off state support, the European Union’s
competition chief said on Wednesday.
The tougher conditions came as the European Commission
extended by a year a framework of rules set up in October 2008
allowing EU governments to bail out their lenders under looser
terms.
“After almost two years of a specific crisis state aid
regime, we need to prepare a gradual return to normal market
functioning,” Competition Commissioner Joaquin Almunia said in a
statement.
“The remaining risk of renewed stress is a valid reason to
proceed with care and caution in the exit process.”
Under current rules, only distressed banks which had
received support above 2 percent of their risk-weighed assets
needed to come up with a restructuring plan.
The EU executive also decided to keep measures facilitating
access to finance for small- and medium-sized enterprises, but
under stricter conditions.
It extended by another year to 2011 simpler rules for
short-term export credit insurance and said governments could
invest up to 2.5 million euros ($3.26 million) – a 1 million
euro increase – in start-ups as private equity investors moved
to less risky investments. – Reuters
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Oil higher despite stronger dollar
Oil prices rose on Monday after the European Union agreed on a bailout plan for Ireland. |||
New York – Oil prices rose on Monday after the European Union agreed on a bailout plan for Ireland, which offset some concern that a financial crisis could surface in Portugal and Spain.
The gain came even as the dollar was stronger against other currencies. Since oil and other commodities are priced in dollars, a stronger dollar makes them more expensive for buyers who use foreign currencies.
Benchmark crude for January delivery rose $1.97 to settle at $85.73 a barrel on the New York Mercantile Exchange.
The dollar soared against the euro. In late trading in New York, the euro dropped to $1.3116 from $1.3237 late on Friday. It had earlier fallen below $1.31 for the first time since September 21. – Sapa-AP
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Trissel Graham & Toole honored as Patriotic Employer
Trissel Graham & Toole Inc. has been honored as a Patriotic Employer by the Iowa Employer Support of the Guard and Reserve, or ESGR.
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EU backs Irish bailout, outlines resolution plan
BRUSSELS (Reuters) – The EU approved an 85 billion euro ($115 billion) rescue for Ireland on Sunday and outlined a permanent system to resolve Europe’s debt crisis, in which investors could gradually share the cost of any future default.
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Govt to develop Arabica coffee
The government will focus on the development of Arabica coffee next year, a cabinet minister said.
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Negocios – Oposición de Irlanda, reacia a costoso rescate
DUBLÍN, Irlanda (Reuters). -Irlanda ingresó el sábado a las horas finales de negociación para un rescate de la Unión Europea y el Fondo Monetario Internacional, pero los partidos que se espera formen el próximo Gobierno dijeron que el acuerdo sería inaceptable si la tasa de interés es muy alta. El líder del Partido Laborista irlandés, Eamon Gilmore, consideró “profundamente perturbadores” los reportes de la prensa local respecto a que la tasa que pagarían los contribuyentes por un rescate de unos 85 mil millones de euros (113 mil millones de dólares) podría elevarse al 6.7%. “Si es cierto, sería una grave capitulación del Gobierno irlandés. Y sería una traición de los principios fundadores de la Unión Europea”, dijo en una conferencia partidista. El principal partido opositor, Fine Gael, dijo que cualquier tasa sobre el 6% sería inaceptable. Irlanda se vio forzada a buscar la ayuda de la UE y el FMI para salir de una crisis financiera, arraigada en años de préstamos bancarios imprudentes que se convirtieron en un problema tras el colapso de un crecimiento expansivo del sector inmobiliario. Funcionarios europeos esperan que la ayuda sirva para dejar atrás la crisis de deuda que comenzó en Grecia y ahora amenaza con abarcar a países como Portugal y España, la cuarta mayor economía del bloque financiero, poniendo en peligro el futuro del propio euro. Los negociadores se reunieron en un hotel de lujo de 250 años de antigüedad en Dublín para finalizar el acuerdo irlandés, que sería anunciado el domingo.
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EUR/USD Technical Analysis 26 November 2010
On Wednesday the Euro/Dollar was trading within a narrow, around 100 pip range. The European currency first depreciated to 1.3286, than climbed to 1.3388 yesterday, matching the positive Interbank sentiment projection at nearly +6%, closing the day at 1.3358. This morning the pair is showing weakness, but is still moving within yesterday’s range.
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Bakeries wait for bread ruling
A ruling is expected today on the class action suit against South Africa’s three biggest bread makers. |||
A ruling is expected today on the class action in the Western Cape High Court taken by a group of activist organisations, including Cosatu, against the big three bread makers – two of which have previously been found guilty of fixing bread prices.
Meanwhile, the government made it clear that a special fund set up to house R250 million of the fine on Pioneer Foods broke fiscal rules and the imposed fine of must be directed to the national revenue fund overseen by the Treasury. Economic Development Minister Ebrahim Patel had said that the money would go to an agro-processing start-up fund run by the Industrial Development Corporation, which falls under his department’s domain.
Commenting after the weekly cabinet meeting, government spokesman Vusi Mona said the matter had not been discussed in cabinet. However, Mona said any money owing to the state needed to be directed through the Treasury. It is not clear at this stage whether Patel’s fund – aimed at promoting competitiveness in the food industry – will still be viable.
Another fund to protect the poor may also fail to see the light of day. Should the activist groups lose their case, it is likely to end their hopes of setting up a fund – this time managed by the non-government sector – to benefit poverty alleviation projects.
At the high court yesterday, Acting Judge Francois van Zyl reserved judgment, but is expected to make a ruling today after hearing argument from Cosatu Western Cape, the Black Sash, The Children’s Resources Centre, the National Consumer Forum and five individual consumers, as to why they should be recognised as representatives of the poor in the Western Cape who paid inflated bread prices.
The three major bread producers, Premier Foods, Tiger Brands and Pioneer Foods, have also presented their case.
Yesterday much of the day was devoted to argument from Premier Foods’ legal representative, Anton Katz, who argued that Premier could not be sued. This was because it had not been found guilty of price-fixing, but instead had been granted corporate leniency.
Charles Abrahams for the activist groupings argued that the rights of the people harmed by cartel activity needed to be upheld. He also argued that corporate leniency was a policy of the Competition Commission and was not provided for in terms of the Competition Act.
The commission granted Premier Foods leniency for co-operating with its probe and Tiger Brands reached a settlement with the competition regulator in 2007.
Black Sash advocacy programme manager Nkosikhulule Nyembezi emphasised that it was an urgent application because the class action for damages had to be filed within three years of a judgment for price-fixing. – Business Report
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S&P cuts Ireland rating by 2 notches as deficit plan looms
Ireland’s debt rating was lowered two steps by Standard & Poor’s, with a negative outlook, as the government prepares to unveil a four-year deficit-cutting plan and contagion spread through the rest of the euro region.
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