JERUSALEM: Israeli Prime Minister Benjamin Netanyahu dismissed jitters over his government’s judicial overhaul drive that have scared away some investors, calling it an opportunity to make money by betting on what he described as sound economic fundamentals.
“The momentary fluff, the momentary dust that is in the air is just that — dust,” he told US business broadcaster CNBC late on Wednesday, responding to a question about falling investment by citing strong growth and a low deficit.
“The smart money moves in because they know that the fundamentals are great,” Netanyahu said. “The less smart money moves with the herd ... so those who come in now and are coming in now are going to make a lot of money.”
Netanyahu’s government’s plan to limit Supreme Court powers has triggered unprecedented protests nationwide, drawn rebuke from Western allies and scared away some investors. He suspended the judicial push on March 27 to negotiate with the opposition.
On Friday, Moody’s Investors Service reaffirmed Israel’s A1 rating but revised its outlook from positive to stable, citing the judicial drive. Israel’s shekel is near a three-year low and economic growth is forecast to slow to 2.5 percent this year from 6.5 percent in 2022.
According to the IVC Research Center and LeumiTech, Israeli high-tech firms raised $1.7 billion in 2023 first quarter, down 70 percent from the $5.8 billion in the first three months of 2022 and its lowest quarterly fundraising level in four years.
A survey by Start-Up Nation Central found that 84 percent of investors believe the judicial changes will have a negative effect on ability to raise capital abroad, while 79 percent of companies currently raising capital have reported cancelations of meetings with investors.
Israel’s high-tech community, usually quiet on politics, has been vocal about potential damage to the economy. The tech sector contributes 25 percent to the country’s tax income.
Benjamin Netanyahu dismisses investor worry over Israel judicial moves as ‘momentary fluff’
https://arab.news/4vhve
Benjamin Netanyahu dismisses investor worry over Israel judicial moves as ‘momentary fluff’
- ‘The momentary fluff, the momentary dust that is in the air is just that — dust’
- Israel’s tech sector contributes 25 percent to the country’s tax income
2 US service members and one American civilian killed in ambush in Syria, US Central Command says
- The attack is the first to inflict casualties since the fall of Syrian President Bashar Assad a year ago
DAMASCUS, Syria: Two US service members and one American civilian have been killed and three other people wounded in an ambush on Saturday by the Daesh group in central Syria, the US Central Command said.
The attack is the first to inflict casualties since the fall of Syrian President Bashar Assad a year ago.
Central Command said in a post on X that as a matter of respect for the families and in accordance with Department of War policy, the identities of the service members will be withheld until 24 hours after their next of kin have been notified.
Shots were fired at Syrian and US forces on Saturday during a visit by American troops to a historic central town, leaving several wounded, Syria’s state media and a war monitor said.
The shooting took place near Palmyra, according to the state-run SANA news agency, which said two members of Syria’s security force and several US service members were wounded. The injured were taken by helicopters to the Al-Tanf garrison near the border with Iraq and Jordan.
SANA said the attacker was killed, without providing further details.
A US defense official told The Associated Press that they are aware of the reports and did not have any information to provide immediately. The official spoke on condition of anonymity for not being authorized to speak to the media.
The Britain-based Syrian Observatory for Human Rights said at least three Syrian security members were wounded as well as several Americans. It added that the attacker was a member of the Syrian security force.
The US has hundreds of troops deployed in eastern Syria as part of a coalition fighting the Daesh group.
Last month, Syria joined the international coalition fighting against Daesh as Damascus improves its relations with Western countries following last year’s fall of President Bashar Assad when insurgents captured his seat of power in Damascus.
The US had no diplomatic relations with Syria under Assad, but ties have warmed since the fall of the five-decade Assad family rule. The interim president, Ahmad Al-Sharaa, made a historic visit to Washington last month where he held talks with President Donald Trump.
Daesh was defeated in Syria in 2019 but the group’s sleeper cells still carry out deadly attacks in the country. The United Nations says the group still has between 5,000 and 7,000 fighters in Syria and Iraq.
US troops, which have maintained a presence in different parts of Syria — including Al-Tanf garrison in the central province of Homs — to train other forces as part of a broad campaign against Daesh, have been targeted in the past. One of the deadliest attacks occurred in 2019 in the northern town of Manbij when a blast killed two US service members and two American civilians as well as others from Syria while conducting a patrol.
