While Arabs call for democracy, Israelis want a country they can afford. More than 300,000 protesters fill the streets of major cities to demand a lower cost of living.
Archive for the 'Economy' Category
Israel refuses to hand over Palestinian Authority donations and government employees cannot receive paychecks.
The National Bank of Egypt is suing the State of Israel for unpaid dividends. Perhaps they would be successful enough to bring Israel into bankruptcy?
A state-owned Egyptian bank is suing the State of Israel for $78 million in unpaid dividends for its investment seven decades ago in the company that built Jerusalem’s landmark King David Hotel, an attorney representing the bank said Wednesday.
The National Bank of Egypt claims that Israel’s Custodian General expropriated shares that it purchased in the company seven decades ago, without ever sharing any profits or dividends with the bank, said attorney Jasser Ashraf, who filed the suit on behalf of the Egyptian bank in the Jerusalem District Court last week.
News of the unusual lawsuit was first reported in Yediot Aharonot.
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A criminal state will beget criminals. A team of Israeli police will be leaving for Australia next week to question a prominent billionaire on allegations that Ehud Olmert tried to help him in a bank sale before becoming Prime Minister.
Israel to Question Billionaire in Probe
Friday April 27, 2007 7:16 AM
By MATTI FRIEDMAN
Associated Press WriterJERUSALEM (AP) – A team of Israeli police will leave for Australia next week to question a prominent billionaire about suspicions that Ehud Olmert tried to help him in a bank sale before becoming prime minister, a police spokesman said Thursday.
The case is one of several corruption investigation that have dogged Olmert’s year in office. On Wednesday, Israel’s government watchdog agency recommended opening a criminal investigation against him in a separate influence peddling case.
Officers from the police fraud squad will question Frank Lowy in Australia, police spokesman Micky Rosenfeld told The Associated Press. Lowy, a real estate developer and friend of Olmert’s, was No. 172 on Forbes magazine’s latest ranking of billionaires.
The investigation concerns Olmert’s role as finance minister in the government’s 2005 sale of a controlling interest in Bank Leumi, one of the country’s largest financial institutions.
