JERUSALEM: Israel’s state prosecutor said Thursday he intends to indict seven men, including close associates of Israeli Prime Minister Benjamin Netanyahu, in a sweeping graft case related to a possible conflict of interest involving a $2 billion purchase of German submarines.
State prosecutor Shai Nitzan’s office said in a statement the seven would be charged with various offenses, among them bribery, money laundering and fraud, pending a hearing.
Netanyahu was questioned, but not named as a suspect, in the submarine probe, known as “file 3000.” But it roped in some of his closest aides and sparked questions about his earnings on a related German submarine sale to Egypt.
Among those to be charged were Netanyahu’s personal attorney, David Shimron, who is also his cousin. Shimron represented the German firm involved and was suspected of using his influence over the prime minister in return for a hefty cut of the deal.
Also set to be indicted is David Sharan, who once headed Netanyahu’s office. The former head of the navy has also been implicated.
After seeming to escape the submarine scandal, it was revealed that Netanyahu reportedly earned $4 million on a related German submarine sale to Egypt by owning shares in one of the German manufacturer’s suppliers. He has denied wrongdoing.
Netanyahu was recently charged with bribery, fraud and breach of trust in three separate corruption cases in which he is accused of trading regulatory or legislative favors in exchange for lavish gifts and favorable news coverage.
Netanyahu has professed innocence in all three, saying the charges are trumped up by a biased justice system egged on by a liberal media.
Netanyahu, Israel’s longest-serving leader, is fighting for his political life following two inconclusive elections and the likelihood of an unprecedented third in one year.
With the charges against him issued amid the political impasse, Netanyahu has driven up his rhetoric against his perceived enemies, berating law enforcement institutions and calling for “the investigators to be investigated.”
Close associates of Israeli PM to be indicted in graft case
Close associates of Israeli PM to be indicted in graft case
- State prosecutor Shai Nitzan’s office said in a statement the seven would be charged with various offenses
Palestinian sources say to free Gaza hostage demanded by Israel before next swap
- Arbel Yehud will be handed over within days, sources say
- In exchange, 30 prisoners serving life sentences will be released
“Arbel Yehud is expected to be freed before the next (hostage-prisoner) exchange” scheduled for February 1, said a source from the Islamic Jihad militant group.
Another Palestinian source familiar with the issue said Yehud is expected to be released by Friday.
“The release of Arbel Yehud will happen most likely by next Friday in exchange for 30 prisoners serving life sentences,” the source said on condition of anonymity as he was not authorized to speak on the matter publicly.
Israel has accused Hamas of reneging on the ceasefire deal by not releasing Yehud when the second hostage-prisoner took place on Saturday.
As a civilian woman, Yehud “was supposed to be released” as part of the second hostage-prisoner swap under the truce deal, a statement from the office of Prime Minister Benjamin Netanyahu said.
Labelling it a violation by Hamas of the ceasefire deal, Netanyahu’s office said it “will not allow the passage of Gazans to the northern part of the Gaza Strip until the release of civilian Arbel Yehud... is arranged.”
On Saturday, two Hamas sources told AFP that Yehud was “alive and in good health,” with one source saying she would be “released as part of the third swap set for next Saturday.”
But on Sunday, the two Palestinian sources said she was expected to be released following an intervention by mediators Egypt and Qatar.
“The crisis has been resolved,” said the source familiar with the issue.
Tens of thousands of displaced Gazans massed on Sunday on the road to the north but were not allowed to pass through, AFP correspondents reported.
Saudi permanent representative presents credentials to UNESCO chief
- Abdulelah Altokhais is seeking to strengthen Kingdom’s cooperation with UN agency
- Paris talks focus on collaboration to promote coexistence among peoples and cultures
RIYADH: Abdulelah Altokhais, Saudi Arabia’s permanent representative to UNESCO, presented his credentials to Audrey Azoulay, the organization’s director-general, at its headquarters in Paris on Sunday.
The Kingdom’s mission to the UN-affiliated agency wrote on the X platform that Altokhias is “continuing Saudi Arabia’s efforts to strengthen joint cooperation with UNESCO and member states toward a better-shared future.”
During his meeting with Azoulay, Altokhais reviewed Saudi Arabia’s contributions to numerous UNESCO projects through its role in the organization’s Executive Council and membership of the World Heritage Committee.
He emphasized the need to enhance collaboration with UNESCO to promote peace and coexistence among peoples and cultures.
Altokhais studied philosophy at the University of Florida, and has worked in the cultural heritage, planning, and tourism fields, the Saudi Press Agency reported.
Netanyahu says France assures Israel its firms can take part in Paris Air Show
- Israeli defense companies were last year banned from participating in a defense industry exhibition held in Paris
JERUSALEM: Israeli Prime Minister Benjamin Netanyahu’s office said on Sunday that French President Emmanuel Macron had given him assurances that Israeli companies would be able to take part in the Paris Air Show.
The two had a phone conversation during which the assurance was given, according to a statement by the prime minister’s office.
Separately, Macron’s office said in a statement that the presence of Israeli companies at the air show “could be favorably considered, as a result of the ceasefire in Gaza and Lebanon.”
Israeli defense companies were last year banned from participating in a defense industry exhibition held in Paris as Macron called for Israel to cease some military operations in Gaza.
That ban strained relations, but a French court in October overturned a government ban on Israeli companies taking part in a naval arms exhibition near Paris.
The Paris Air Show, the world’s largest, is held every two years, alternating every other year with Farnborough in Britain. It is due to take place from June 16 until June 22. Leading aerospace, aviation and defense companies from around the world typically take part in both events.
A ceasefire agreement reached this month between Israel and Palestinian militant group Hamas, which it has been fighting in Gaza, remains in effect, as does another truce agreement struck last year between Israel and Lebanese militant group Hezbollah.
Pakistan fears lower production as ‘severe’ drought dents winter harvest
- Pakistan ranks among countries most vulnerable to climate change, which scientists say is making extreme weather events more common and more severe
- Analysts say a fast-growing population, climate change and poor resource management with an over-reliance on Indus River are all spurring water scarcity
ISLAMABAD: Pakistan fears lower production as a “severe” winter drought has ravaged several crops in the country’s breadbasket, an official said on Sunday, stressing the need to build more water reservoirs and restore wetlands.
The South Asian country — home to more than 240 million people — ranks among the nations that are most vulnerable to the effects of climate change, which scientists say is making extreme weather events more common and more severe.
According to the Pakistan Meteorological Department (PMD), rainfall from Sept. 1 to Jan. 15 was 40 percent below normal across Pakistan, with Sindh, Balochistan, and Punjab being the most affected provinces with deficits of 52 percent, 45 percent, and 42 percent respectively.
Muhammad Saleem Shaikh, a spokesperson for Pakistani climate change ministry, said the ongoing severe drought is in fact part of a larger trend of increasing climate variability that threatens to disrupt agriculture and exacerbate water shortages, the state-run Radio Pakistan broadcaster reported.
“Reduced water availability due to low rainfall was adversely impacting the growth of crops like wheat, a staple food, as well as vital cash crops like potato, leading to fears of lower production and rising food prices and their shortages in future,” he was quoted as saying.
“The ongoing winter drought conditions in the country underscore the urgent need for a unified response to address the country’s water crisis.”
The agriculture sector contributes nearly a quarter of Pakistan’s gross domestic product (GDP) and employs 37 percent of the national labor force, according to the United Nations’ Food and Agriculture Organization.
Pakistan generally relies on water from the Indus river which bisects the country from north to south, where it empties into the Arabian Sea.
But analysts say a fast-growing population, climate change and poor resource management with an over-reliance on a single water source are all spurring scarcity.
Shaikh said building water reservoirs, restoring wetlands and promoting drought-tolerant crop varieties is vital to mitigating recurring and intensifying drought risks in the country.
“Rainwater harvesting, groundwater recharge and the adoption of modern irrigation methods like drip and sprinkler systems are no longer optional,” he said. “They are critical tools in our survival weaponry.”
Global sustainable bond issuance to reach $1tn in 2025: Moody’s
- Impending maturity wave is set to escalate, signifying additional refinancing requirements alongside regular issuance goals
- Moody’s said ESG risks this year will be influenced by policy decisions and financing.
RIYADH: Global sustainable bond issuance is projected to reach $1 trillion in 2025, driven by a worldwide focus on green development, according to global credit rating agency Moody’s.
In their latest report, the New York-based firm said that increased examination of greenwashing, changes in market norms and regulations, and a more intricate landscape, which includes political challenges in certain nations, are expected to impede growth.
This aligns with the green bond market, which has advanced a decade beyond the international treaty on climate change that was signed in 2016, known as the Paris Agreement. The market provides a boost to the sector as initial issuances are gradually approaching maturity.
The impending maturity wave is set to escalate this year and 2026, signifying additional refinancing requirements alongside regular issuance goals, according to capital market firm AXA Investment Managers.
“We expect global sustainable bond issuance to total $1 trillion in 2025, in line with 2024. Social bonds will be constrained by a lack of benchmark-sized projects, while transition-labeled bonds and sustainability-linked bonds will remain niche segments as they navigate evolving market sentiment,” Moody’s report said.
“A continued focus on climate mitigation financing, as well as growing interest in climate adaptation and nature, will spur green and sustainability bond issuance,” it added. “Meanwhile, the widening gaps between decarbonization ambitions and implementation will be brought into focus by the contrast of fresh pledges and increasingly destructive climate events.”
Regarding the outlook on environmental, social, and governance factors, Moody’s said the risks this year will be influenced by policy decisions and financing.
“Companies will encounter challenges in handling environmental and social risks within their supply chains. Additionally, technological disruptions, climate change, and demographic shifts could exacerbate social risks and pose policy obstacles for governments,” the agency added.
In November, Moody’s said that global issuance of sustainable bonds in the third quarter of last year reached $216 billion, marking a 9 percent annual increase.
It said at the time that the year-on-year increase in green, social, sustainability, and sustainability-linked bonds came despite a quarter-on-quarter drop, with the volume issued down 14 percent in the three months to the end of September compared to the preceding period.
For the first nine months of 2024, sustainable bond volumes reached $769 billion, marking a 3 percent decline compared to the same period last year.
Despite the quarterly dip, Moody’s forecasted that the total sustainable bond volumes will reach $950 billion in 2024 “buoyed by relatively robust volumes in the first half of the year and continued issuer appetite for funding environmental and social projects with labeled bonds.”
