Israel, India look past defense to broaden commercial ties

Israeli Prime Minister Benjamin Netanyahu (R) greets his Indian counterpart Narendra Modi during a meeting with Indian community in the Israeli coastal city of Tel Aviv, on July 5, 2017. Prime Minister Narendra Modi arrived in Israel for what he called a "groundbreaking" first ever visit by an Indian premier, with growing ties between the two countries including billion of dollars in defence deals. (AFP)
Updated 06 July 2017
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Israel, India look past defense to broaden commercial ties

TEL AVIV: In the months leading up to Indian Prime Minister Narendra Modi’s historic visit to Israel, India signed two arms deals, spending $2.6 billion on Israeli missile defense systems.
Yet since Modi arrived on Tuesday, military ties — for decades the secretive bedrock of India-Israel relations — have taken a back seat. The governments have instead spent time discussing companies that sell medical devices, hi-tech and water systems.
Rather than making the visit, the first by a sitting Indian prime minister, all about the value of deals signed, Israel’s Prime Minister Benjamin Netanyahu and Modi appear intent on playing up shared culture and values, in the hope this will give commercial ties deeper roots.
Under Arab pressure, India kept its distance from Israel for decades but is now seeing advantages in a complementary relationship with Israel. There is interest on both sides in building a broad economic base, rather than merely a contractual exchange based around defense.
The timing reflects a diplomatic shift toward Israel being more accepted in the region. Modi, who is acutely conscious of the need to adopt innovation and new technology to update India’s infrastructure has always had a personal affinity for Israel and came to learn more about the country before he became premier.
“India and Israel are walking hand in hand into the future as partners,” Modi and Netanyahu wrote in a joint editorial this week. “From start-ups to space, communications to cybernetics, Israel’s technological capabilities are merging with India’s.”
The two men are spending 48 hours together with Modi, accompanied by Indian business leaders, getting a political and business tour that covers Israeli history, culture and innovation, as well as the signing of economic agreements.
HOPES FOR MORE DEALS
“What’s it going to take to get Israeli money to take India seriously? Just open their eyes,” Jon Medved, CEO of Israeli equity crowdfunding group OurCrowd said. “The problem is their eyes are ... blinded by the China opportunity,” he added.
There have only been a handful of Indian investments in Israel over the past decade, as opposed to the $16.5 billion received from China in 2016 alone.
OurCrowd just closed three deals with India, joining with Reliance Industries for a hi-tech incubator that helps to grow young companies in Jerusalem, bringing Israeli technology to India with Reliance Capital, and collaborating with India’s Lets Venture to invest in start-ups.
During Modi’s visit, Zebra Medical Vision, a company from a kibbutz near Tel Aviv, and Bangalore-based Teleradiology Solutions will sign a partnership to use analytics in 150 health-care centers.
Looking to reorient Israel’s economy toward Asia, Netanyahu hopes more deals will follow, setting a goal of increasing exports to India by 25 percent in the next four years. But it may take a while before the Modi-Netanyahu relationship sparks a serious expansion in investment and trade, both of which remain relatively negligible.
In many respects export-dependent Israel and India, which is focused on supplying its huge population, are complementary.
Israel is a global leader in water and food systems, two critical fields India needs to upgrade. India wants to strengthen its manufacturing base and is looking to do so with technologies coming from Israel. Both countries host major diamond trading and polishing hubs.

DIAMOND TRADE SPARKLES
Israeli exports to India last year totalled $1.15 billion, excluding diamonds, just 2.5 percent of total exports. Bilateral trade was less than $2 billion, which jumped to $4.13 billion including diamonds. Israel’s foreign direct investment in India totals only $100 million.
“It’s nothing, it’s a blip. Why hasn’t the relationship grown to the level it should have?” said A. Didar Singh, secretary general of the Federation of Indian Chambers of Commerce.
Singh said more needed to be done to ease regulations, lower non-tariff barriers and solve licensing problems.
Incentives and lifting of red tape could help overcome what diplomats, lobbyists and business owners say is a cultural divide between the breakneck pace of Israel’s start-up scene and India’s more gradual approach.
It can take time to cement negotiations in India, where building trust and a relationship is paramount, said Elias Ghosalkar, a former investment banker from Mumbai who is director of corporate development for OurCrowd after moving to Israel last year.
“Israelis on the other hand are quite direct and lack patience in their business approach,” he told Reuters.
Israel’s ambassador to India, Daniel Carmon, said it is becoming easier to do business between the two countries, even if there may remain some differences in practice.
“It could be that the Israeli businessman arrives on a Monday flight and wants to return on Thursday with a deal in hand. I say to him ‘forget it’. It’s not going to happen. There are processes, the processes take time, not four days,” he said. 


France’s ex-president Sarkozy on trial over alleged Qaddafi pact

Updated 11 sec ago
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France’s ex-president Sarkozy on trial over alleged Qaddafi pact

  • The career of Nicolas Sarkozy has been shadowed by legal troubles since he lost the 2012 presidential election
  • Latest trial is the result of a decade of investigations into accusations that Sarkozy accepted illegal campaign financing
PARIS: Former French president Nicolas Sarkozy, already convicted twice in separate cases since leaving office, on Monday goes on trial charged with accepting illegal campaign financing in an alleged pact with the late Libyan dictator Muammar Qaddafi.
The career of Sarkozy has been shadowed by legal troubles since he lost the 2012 presidential election. But he remains an influential figure for many on the right and is also known to regularly meet President Emmanuel Macron.
The fiercely ambitious and energetic politician, 69, who is married to the model and singer Carla Bruni and while in power from 2007-2012 liked to be known as the “hyper-president,” has been convicted in two cases, charged in another and is being investigated in connection with two more.
Sarkozy will be in the dock at the Paris court barely half a month after France’s top appeals court on December 18 rejected his appeal against a one year prison sentence for influence peddling, which he is to serve by wearing an electronic bracelet rather than in jail.
The latest trial is the result of a decade of investigations into accusations that Sarkozy accepted illegal campaign financing — reportedly amounting to some 50 million euros — from Qaddafi to help his victorious 2007 election campaign.
In exchange, it is alleged, Sarkozy and senior figures pledged to help Qaddafi rehabilitate his international image after Tripoli was blamed for bombing attacks on Pan Am Flight 103 in 1988 over Lockerbie in Scotland and UTA Flight 772 in 1989 that killed hundreds of passengers.
Sarkozy has denounced the accusations as part of a conspiracy against him, insisting that he never received any financing for the campaign from Qaddafi and that there is no evidence of any such transfer.
At a time when many Western countries were courting Qaddafi for energy deals as the maverick dictator sought to emerge from decades of international isolation, the Libyan leader in December 2007 visited Paris, famously installing his tent in the center of the city.
But France then backed the UN-sanctioned military action that helped in 2011 oust Qaddafi, who was then killed by rebels. Sarkozy has said allegations from former members of Qaddafi’s inner circle over the alleged campaign financing are motivated by revenge.
If convicted, Sarkozy faces up to 10 years in prison under the charges of concealing embezzlement of public funds and illegal campaign financing. The trial is due to last until April 10.
Sarkozy “is awaiting these four months of hearings with determination. He will fight the artificial construction dreamed up by the prosecution. There was no Libyan financing of the campaign,” said his lawyer Christophe Ingrain.
Among 12 others facing trial over the alleged Libyan financing are heavyweights such as Sarkozy’s former right-hand man, Claude Gueant, his then-head of campaign financing, Eric Woerth, and former minister Brice Hortefeux.
“Claude Gueant will demonstrate that after more than ten years of investigation, none of the offenses he is accused of have been proven,” said his lawyer Philippe Bouchez El Ghozi, denouncing the cases as amounting to “assertions, hypotheses and other approximations.”
For the prosecution, the pact started in 2005 when Qaddafi and Sarkozy, then interior minister, met in Tripoli for a meeting ostensibly devoted to fighting illegal migration. But Sarkozy’s defense counters that no trace of the illegal financing was ever found in the campaign coffers.
The scandal erupted in April 2012, while Sarkozy was in the throes of his re-election campaign, when the Mediapart website published a bombshell article based on a document purportedly from December 2006 it said showed a former Libyan official evoking an agreement over the campaign financing.
Sarkozy has long contended that the document is not genuine.
An embittered Sarkozy would later narrowly lose the second round of the election to Socialist Francois Hollande.
Franco-Lebanese businessman Ziad Takieddine, a key figure in the case, had claimed several times that he helped deliver up to five million euros ($5.4 million at current rates) in cash from Qaddafi to Sarkozy and his chief of staff in 2006 and 2007.
But in 2020, Takieddine suddenly retracted his incriminating statement, raising suspicions that Sarkozy and close allies may have paid the witness to change his mind.
In a further twist, Sarkozy was charged in October 2023 with illegal witness tampering while Carla Bruni was last year charged with hiding evidence in the same case.
Sarkozy’s second conviction, in another campaign financing case, was confirmed last year by a Paris appeals court which ruled he should serve six months in prison, with another six months suspended. This verdict can still go to a higher domestic appeals court.

Indian forces clash with Maoist rebels, five dead

Updated 05 January 2025
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Indian forces clash with Maoist rebels, five dead

  • More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels
  • Rebels demand land, jobs and share of central India’s natural resources for local residents

New Delhi: Indian security forces on Sunday battled with Maoist rebels in their forested heartland, police said, with at least four guerillas and one policeman killed.

More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels, who say they are fighting for the rights of marginalized indigenous people in India’s resource-rich central regions.

Government forces stepped up efforts last year to crush the long-running armed conflict, with some 287 rebels killed in 2024, according to government figures.

Clashes broke out late Saturday in Abujhmarh district of Chhattisgarh state, a key battleground in the insurgency.

“Four bodies of Maoists, who were in their battle uniform, have been recovered after an encounter with police forces,” police inspector general P. Sunderraj told AFP, adding one police constable had also been killed.

“Action is still on,” he said.

Around 1,000 suspected Naxalites were arrested and 837 surrendered during 2024.

Amit Shah, India’s interior minister, warned the Maoist rebels in September to surrender or face an “all-out” assault, saying the government expected to quash the insurgency by early 2026.

The insurgency has been drastically restricted in area in recent years.

The Naxalites, named after the district where their armed campaign began in 1967, were inspired by the Chinese revolutionary leader Mao Zedong.

They demanded land, jobs and a share of the region’s immense natural resources for local residents, and made inroads in a number of remote communities across India’s east and south.

The movement gained in strength and numbers until the early 2000s when New Delhi deployed tens of thousands of security personnel against the rebels in a stretch of territory known as the “Red Corridor.”

Authorities have since invested millions of dollars in local infrastructure and social projects to combat the Naxalite appeal.


Indian forces clash with Maoist rebels, five dead

Updated 05 January 2025
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Indian forces clash with Maoist rebels, five dead

  • More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels
  • Government forces stepped up efforts last year to crush the long-running armed conflict

NEW DELHI: Indian security forces on Sunday battled with Maoist rebels in their forested heartland, police said, with at least four guerillas and one policeman killed.
More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels, who say they are fighting for the rights of marginalized indigenous people in India’s resource-rich central regions.
Government forces stepped up efforts last year to crush the long-running armed conflict, with some 287 rebels killed in 2024, according to government figures.
Clashes broke out late Saturday in Abujhmarh district of Chhattisgarh state, a key battleground in the insurgency.
“Four bodies of Maoists, who were in their battle uniform, have been recovered after an encounter with police forces,” police inspector general P. Sunderraj said, adding one police constable had also been killed.
“Action is still on,” he said.
Around 1,000 suspected Naxalites were arrested and 837 surrendered during 2024.
Amit Shah, India’s interior minister, warned the Maoist rebels in September to surrender or face an “all-out” assault, saying the government expected to quash the insurgency by early 2026.
The insurgency has been drastically restricted in area in recent years.
The Naxalites, named after the district where their armed campaign began in 1967, were inspired by the Chinese revolutionary leader Mao Zedong.
They demanded land, jobs and a share of the region’s immense natural resources for local residents, and made inroads in a number of remote communities across India’s east and south.
The movement gained in strength and numbers until the early 2000s when New Delhi deployed tens of thousands of security personnel against the rebels in a stretch of territory known as the “Red Corridor.”
Authorities have since invested millions of dollars in local infrastructure and social projects to combat the Naxalite appeal.


South Korean protesters brave cold to demand Yoon Suk Yeol’s ouster as detention deadline looms

Updated 05 January 2025
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South Korean protesters brave cold to demand Yoon Suk Yeol’s ouster as detention deadline looms

  • Dozens of anti-corruption agency investigators and police attempted to execute a detainment warrant against Yoon on Friday
  • But there was tense standoff with the presidential security service that lasted more than five hours

SEOUL: Hundreds of South Koreans, bundled up against freezing temperatures and snow, rallied overnight into Sunday near the residence of impeached President Yoon Suk Yeol, calling for his ouster and arrest, as authorities prepared to renew their efforts to detain him over his short-lived martial law decree.
Dozens of anti-corruption agency investigators and police attempted to execute a detainment warrant against Yoon on Friday but retreated from his residence in Seoul after a tense standoff with the presidential security service that lasted more than five hours.
The one-week warrant for his detention is valid through Monday. There were no immediate indications that anti-corruption authorities were ready to send investigators back to the residence as of Sunday afternoon. Staff from the presidential security service were seen installing barbed wire near the gate and along the hills leading up to Yoon’s residence over the weekend, possibly in preparation for another detention attempt.
A Seoul court last Tuesday issued a warrant to detain Yoon and a separate warrant to search his residence after the embattled president repeatedly defied authorities by refusing to appear for questioning and obstructing searches of his office. But enforcing them is complicated as long as Yoon remains in his official residence.
Investigators from the country’s anti-corruption agency are weighing charges of rebellion after the conservative president, apparently frustrated that his policies were blocked by a legislature dominated by the liberal opposition, declared martial law on Dec. 3 and dispatched troops to surround the National Assembly.
The Assembly overturned the declaration within hours in a unanimous vote and impeached Yoon on Dec. 14, accusing him of rebellion, while South Korean anti-corruption authorities and public prosecutors opened separate investigations into the events.
If the anti-corruption agency manages to detain Yoon, it will likely ask a court for permission to make a formal arrest. Otherwise, Yoon will be released after 48 hours.
The Corruption Investigation for High-Ranking Officials, which is leading a joint investigation with police and military investigators, says detaining Yoon would be “virtually impossible” as long as he is protected by the presidential security service. The agency has urged the country’s acting leader, Deputy Prime Minister Choi Sang-mok, to instruct the service to comply with their execution of the detainment warrant, but Choi has yet to publicly comment on the issue.
The chiefs and deputy chiefs of the presidential security service defied summonses on Saturday from police, who planned to question them over the suspected obstruction of official duty following Friday’s events.
Hundreds of anti-Yoon protesters rallied for hours near the gates of the presidential residence from Saturday evening to Sunday, voicing frustration over the failed detention attempt and demanding stronger efforts to bring Yoon into custody. Separated by police barricades and buses, pro-Yoon protesters were gathering in nearby streets, denouncing his impeachment and vowing to block any efforts to detain him.
Yoon’s lawyers have challenged the detention and search warrants against the president, saying they cannot be enforced at his residence due to a law that protects locations potentially linked to military secrets from search without the consent of the person in charge — which would be Yoon. They also argue the anti-corruption office lacks the legal authority to investigate rebellion charges and that police officers don’t have the legal authority to assist in detaining Yoon.
While the presidential security act mandates protection for Yoon, it does not authorize the presidential security service to block court-ordered detainments. The service’s attempts to block the execution of the warrant may amount to an obstruction of official duty, according to Park Sung-bae, an attorney specializing in criminal law. While the president mostly has immunity from prosecution while in office, the protection does not extend to allegations of rebellion or treason.
The agency said its outnumbered investigators had several scuffles with presidential security forces that threatened their safety and expressed “serious regret” that Yoon was not complying with the legal process.
After getting around a military unit guarding the residence’s grounds, the agency’s investigators and police were able to approach within 200 meters (yards) of Yoon’s residential building but were stopped by a barricade comprising around 10 vehicles and approximately 200 members of the presidential security forces and troops. The agency said it wasn’t able to visually confirm whether Yoon was inside the residence.
The Defense Ministry says the troops at Yoon’s official residence are under the control of the presidential security service. Kim Seon-ho, the acting defense minister, conveyed his concern to the presidential security service, saying that deploying military personnel to block the execution of the detention warrant would be “inappropriate” and requesting that the troops aren’t placed in a position where they might confront police, according to the ministry.
Yoon’s defense minister, police chief and several top military commanders have already been arrested over their roles in the period of martial law.
Yoon’s presidential powers have been suspended since the National Assembly voted to impeach him on Dec. 14. Yoon’s fate now lies with the Constitutional Court, which has begun deliberations on whether to uphold the impeachment and formally remove Yoon from office or reinstate him.


More records found linking Credit Suisse, Nazi accounts: US panel

Updated 05 January 2025
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More records found linking Credit Suisse, Nazi accounts: US panel

  • US Senate Budget Committee says Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II
  • Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors

WASHINGTON: An investigation by a US Senate panel has found that troubled investment bank Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II.
Tens of thousands of documents discovered during an ongoing examination have provided new proof of the existence of account holders linked to the Nazis, the Senate Budget Committee said in a statement released Saturday.
The bank did not reveal the existence of these accounts during previous investigations, notably in the 1990s, the committee said.
Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors, but it has been accused of not being completely open about its past dealings with Nazis.
The Senate committee said Saturday that one set of newly discovered files, including 3,600 physical documents and 40,000 microfilms, was found to have a “high relevance rate” of Nazi connections.

Screenshot image showing a portion of a US Senate Budget Committee investigation into Credit Suisse’s World War II-era accounts, which was posted online by Sen. Chuck Grassley.

It said the revelations stem from an interim report by former prosecutor Neil Barofsky, who was fired as an “independent ombudsperson” by the bank in 2022 after being pressed to limit his investigative work.
Barofsky was reinstated in the role in 2023 “as a result of the Committee’s investigation,” and after UBS’s takeover of Credit Suisse.
In a letter to the panel released Saturday, Barofsky noted the “extraordinary level of cooperation that Credit Suisse, under the leadership of UBS, has provided” since he rejoined the company.
But he said Credit Suisse had yet to share all the information it held.
The Barofsky team has discovered, among other things, accounts controlled by high-ranking SS officers, the Wall Street Journal reported.
In his letter, Barofsky highlighted “especially noteworthy” discoveries from a Credit Suisse research department.
“Numerous client files in the sample are marked with a stamp stating ‘Amerikanische schwarze Liste’ — meaning ‘American Black List’ — a list maintained by the Allies of individuals and companies that were directly financed by, or were known to regularly trade with, Axis powers,” he wrote.
“One file bearing this stamp relates to an entity that was involved in selling looted Jewish assets.”
Contacted by AFP, UBS said it was committed to providing a complete record of the former Nazi-linked accounts in Credit Suisse’s predecessor banks.
It said it would provide Barofsky with all necessary assistance in his work to shed light “on this tragic period.”
The Senate panel’s investigation is continuing.