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Monthly Archive for November, 2006
Stocks are falling like a ton of bricks, banks are getting weaker. More evidence of economically-bankrupt Israel. What was that again about Israel being a “land of milk and honey”?
Israel stocks lower as key banks weaken
By Robert Daniel, MarketWatch
Last Update: 1:32 PM ET Nov 28, 2006TEL AVIV (MarketWatch) — Israeli shares fell on Tuesday, led lower by weakness in two key banks.Strength in Teva Pharmaceutical Industries (TEVA : 32.40, -0.36, -1.1%) and two major chemicals producers cushioned the market’s pullback, however.
The Tel Aviv Stock Exchange’s benchmark TA-25 index closed off 0.29% to 922.02, while the TA-100 index fell 0.38% to 928.13.
The Tel-Tech 15 got hammered, with all but one of its 15 members losing ground. The index of top technology issues shed 1.8% to 377.06.
The most-active issues were Bank Leumi and Bank Hapoalim, with Leumi falling 1.5% to 16.87 shekels ($3.92) and Hapoalim losing 1.4% to 20.81 shekels.
Together, the banks accounted for more than an eighth of total TASE volume of $290 million. That total in turn is shy of the average daily TASE trading through October of $332 million.
Leader & Co. reiterated its recommendations on the banking sector as a whole: It rates Leumi as a buy and Hapoalim, Discount and Mizrachi as outperform.“The banks currently trade at [a price-to-earnings multiple of] 10-11 with strong growth potential,” analyst Alon Glazer wrote in a note. “The banks will continue to present [return on equity] of about 15% in the coming years and [a] decent 4%-6% dividend yield with a lower risk than other sectors.”
M. Shahid Alam
It is tempting to celebrate the creation of Israel as a great triumph, perhaps the greatest in Jewish history. Indeed, the history of Israel has often been read as the heroic saga of a people marked for extinction, who emerged from Nazi death camps – from Auschwitz, Belzec and Treblinka – to establish their own state in 1948, a Jewish haven and a democracy that has prospered even as it has defended itself valiantly against unceasing Arab threats and aggression. Without taking away anything from the sufferings of European Jews, I will insist that this way of thinking about Israel – apart from its mythologizing – has merit only as a partisan narrative. It seeks to insulate Israel against the charge of a devastating colonization by falsifying history, by camouflaging the imperialist dynamics that brought it into existence, and denying the perilous future with which it now confronts the Jews, the West and the Islamic world.
When we examine the consequences that have flowed from the creation of Israel, when we contemplate the greater horrors that may yet flow from the logic of Zionism, Israel triumphs appear in a different light. We are forced to examine these triumphs with growing dread and incredulity. Israel’s early triumphs, though real from a narrow Zionist standpoint, have slowly mutated by a fateful process into ever-widening circles of conflict that now threaten to escalate into major wars between the West and Islam. Although this conflict has its source in colonial ambitions, the dialectics of this conflict have slowly endowed it with the force and rhetoric of a civilizational war: and perhaps worse, a religious war. This is the tragedy of Israel. It is not a fortuitous tragedy. Driven by history, chance and cunning, the Zionists wedged themselves between two historical adversaries, the West and Islam, and by harnessing the strength of the first against the second, it has produced the conditions of a conflict that has grown deeper over time.
These days, cars are easily damaged due to natural disasters and with the high rate of crime, also easily stolen. There will be no compensation for you if you do not cover your vehicle with insurance. Some car chases in movies are so over the top that you might find yourself mentally trying to add up the cost of all the wreckage.
Tariq A. Al-Maeena
If the Israeli government is suffering from any delusions that the Saudis are warming up to Israeli policies and designs on the region, they better dispel them fast. For the people here will not condone or easily forgive any aggression against their Arab or Muslim allies.
Following the recent unprovoked butchery by the Israeli government of the people of Gaza which left 19 dead including 8 children, Israeli Prime Minister Ehud Olmert was glib in his response to this latest barbarity by his occupation forces. He called it a “technical error.â€
Israeli Foreign Minister Tzipi Livni termed this latest massacre as a regrettable “incident†adding, “in the framework of such things, incidents like these happen.†For the relatives of the victims, this latest carnage was no technical error or an incident meant to be soon forgotten.
The murder of civilian Palestinians by Israel is nothing new. Israel has murdered over 2,300 Palestinians in the Gaza Strip over the past six years, including 300 or more since Palestinian fighters captured an Israeli soldier in a cross-border raid on June 25. The wounded and maimed number in the tens of thousands. Most of the casualties were civilians, many of them children.
Continue reading ‘Murder is Not Technical Error, Mr. Olmert’