Israel Discount Bank top shareholder group cuts stake further

Two shareholders in an Israeli bank decided to get rid of their shares. Perhaps they are starting to realise that investing in Israel is a “no-go” for economic prosperity!

reuters  Israel Discount Bank top shareholder group cuts stake further

Israel Discount Bank top shareholder group cuts stake further
TEL AVIV, April 8 Tue Apr 8, 2014 12:38pm IST

The two largest shareholders in Israel Discount Bank, the country’s No. 3 bank, agreed to sell a 3.63 percent stake to Citigroup Global Markets for a total of 235.68 million shekels ($67.59 million).

The 38.28 million shares are due to be transferred on Tuesday, the bank said in a statement to the Tel Aviv Stock Exchange. The price of 6.157 shekels a share is a discount to Monday’s closing price of 6.65 shekels.

U.S.-Canadian businessman Matthew Bronfman and New York real estate investor Rubin Schron, who bought a controlling 25 percent holding from the government in 2005, began reducing their stake in December, when they sold 7 percent to institutional investors for 493 million shekels.


Palestinian president threatens to go to UN

The US Secretary of State John Kerry has cancelled his trip to the Middle East after a surprise bid by the Palestinian President for further UN recognition. Mahmoud Abbas signed a request to join several UN agencies and expressed his anger at Israel’s delay in prisoner releases.

Palestine in 1896

Rare footage originally recorded by the Lumier Brothers in 1896 of Palestine. At the time, it was part of the Ottoman Empire. It would be 21 more years until it was conquered by the British in World War I.

Israel closes embassies around the world as diplomats strike

Israeli diplomats launched an unprecedented strike on Sunday, forcing the complete closure of embassies around the world as they escalated a dispute over pay, officials said. The industrial action has already threatened to postpone a visit by Pope Francis to Israel planned for May – one of 25 trips by foreign officials affected by a work slowdown the diplomats began on March 5 when wage talks broke down.

By escalating the action to a full strike – the first by the diplomatic corps since the country’s establishment in 1948 – the diplomats will close all of Israel’s 102 missions abroad, paralyzing most diplomatic work with other countries and the United Nations. Continue reading ‘Israel closes embassies around the world as diplomats strike’

Photo of the Day

hebron2014 Photo of the Day

Israeli soldiers carry a Palestinian protester as they detain him during clashes at a demonstration against the closure of Shuhada street to Palestinians, in the West Bank city of Hebron on February 21, 2014. Hundreds of protesters, including foreign activists, gathered on Friday to mark the 20th anniversary of the closure of the street, which was closed by the Israeli army in 1994. The closure was after the Hebron mosque massacre by Baruch Goldstein, an Israeli settler, who went on a rampage inside Al Ibrahimi Mosque, killing 29 Palestinian worshippers. (Source)