Over 150,000 municipal workers have gone on strike as popular protests against Tel Aviv's handling of the economy continue to sweep across Israel.
The one-day strike was observed on Monday over two weeks after the Israelis first took to the streets to protest against social inequalities and high housing and living costs.
The regime of Prime Minister Benjamin Netanyahu has arrested many protesters so far.
The demonstrators say they can no longer afford the sky-rocketing housing prices, which have jumped by 50 percent in recent years.
They are also calling on the regime to curb the high costs of fuel, food and healthcare.
The largest protest was held on Saturday, when some 150,000 anti-government protesters took to the streets in several cities.
Additionally, several protesters on Thursday occupied the roof of the Tel Aviv stock exchange in what one of them termed a "symbolic gesture" against Netanyahu's handling of the economy.
"Ten big companies control 80 percent of the stock market and take all the fruits of the growth in the national economy," one of the protestors said on Thursday.
Meanwhile, Bank of Israel Governor Stanley Fischer on Monday expressed surprise that Israelis have been protesting as he believes "the economy is doing well," Ha'aretz reported.
Israel's Finance Ministry Director-General, Haim Shani, has announced his resignation over differences with Finance Minister Yuval Steinitz.
The Israeli finance minister says the reforms demanded by protesters could lead to “anarchy” or a US and European-like crisis in Israel.
Furthermore, in a bid to quell the protests, Netanyahu is reportedly setting up a team of ministers and economist to examine the demand of protesters.
The protests have exposed deep frustration over the economy, presenting Netanyahu with his biggest domestic challenge
Tuesday, 2 August 2011
Israel unveils secret missile
The Israeli military has lifted the curtain on a previously classified missile named Tamuz, which it used in its wars against Lebanon and the Gaza Strip.
On Monday, the Israeli military circulated several videos featuring the performance of the anti-armor projectile, which has a range of 25 kilometers, Reuters reported.
Some footage showed the missile landing on a house in Lebanon during the 2006 war, which killed around 1,200 Lebanese, most of them civilians.
Another video featured an Israeli attack on the city of Beit Hanoun in northeastern Gaza.
Israel's December 2008-January 2009 war on the Gaza Strip left more than 1,400 Palestinians dead and inflicted over $1.6 billion in damage on the enclave's economy.
On Monday, the Israeli military circulated several videos featuring the performance of the anti-armor projectile, which has a range of 25 kilometers, Reuters reported.
Some footage showed the missile landing on a house in Lebanon during the 2006 war, which killed around 1,200 Lebanese, most of them civilians.
Another video featured an Israeli attack on the city of Beit Hanoun in northeastern Gaza.
Israel's December 2008-January 2009 war on the Gaza Strip left more than 1,400 Palestinians dead and inflicted over $1.6 billion in damage on the enclave's economy.
US House approves bill raising debt limit
The US House of Representatives has approved a bill to raise the federal debt ceiling and prevent a US debt default by a 269-161 vote as 95 Democrats joined 174 Republicans in voting in favor of the bill.
Before becoming a law, the new legislation must also be passed by the US Senate on Tuesday and approved by President Barack Obama to authorize at least $2.1 trillion in spending cuts over the next ten years, AFP reported.
Senate party leaders who negotiated the deal with the White House seem to have the votes to approve it.
The bill allows the $14.3 billion borrowing ceiling to rise by up to $2.4 trillion and also envisages $900 billion in savings. In addition, it calls for a bipartisan committee comprising six Republicans and six Democrats to identify $1.5 trillion in additional cuts before November 23. The cuts could come from defense spending or entitlement programs such as Social Security.
The bill also says that in case the Congress fails to act, Social Security and Medicaid, as well as veterans, civilian, and military pay, will be excluded from automatic cuts, though the slightly revised version of House Speaker John Boehner's plan has not exempted Medicare.
According to the Congressional Budget Office, the legislation will cut budget deficits by $917 billion between 2012 and 2021.
The US officially hit its debt ceiling on May 16.
Washington owes about 47 percent of the money to foreigners. The biggest creditors are China, Japan, and the United Kingdom.
Before becoming a law, the new legislation must also be passed by the US Senate on Tuesday and approved by President Barack Obama to authorize at least $2.1 trillion in spending cuts over the next ten years, AFP reported.
Senate party leaders who negotiated the deal with the White House seem to have the votes to approve it.
The bill allows the $14.3 billion borrowing ceiling to rise by up to $2.4 trillion and also envisages $900 billion in savings. In addition, it calls for a bipartisan committee comprising six Republicans and six Democrats to identify $1.5 trillion in additional cuts before November 23. The cuts could come from defense spending or entitlement programs such as Social Security.
The bill also says that in case the Congress fails to act, Social Security and Medicaid, as well as veterans, civilian, and military pay, will be excluded from automatic cuts, though the slightly revised version of House Speaker John Boehner's plan has not exempted Medicare.
According to the Congressional Budget Office, the legislation will cut budget deficits by $917 billion between 2012 and 2021.
The US officially hit its debt ceiling on May 16.
Washington owes about 47 percent of the money to foreigners. The biggest creditors are China, Japan, and the United Kingdom.
FBI fails to recover stolen army rifles
Federal officials have failed to track over two dozens of rifles stolen from a military base in California on July 15, offering a reward for information leading to arrest of the thieves.
The US Bureau of Alcohol, Tobacco, Fire arms and Explosives (ATF) along with the Federal Bureau of Investigation (FBI) are offering a reward of up to USD 10,000 for information leading to the location of the fire arms.
The reward was offered two weeks after 26 AK-47s and a Dragnov rifles were stolen from a supply warehouse at the army post at Fort Irwin military base in the southern California, ATF said in a statement, the Washington Post reported.
“Community participation is necessary to improve the likelihood that ATF and our law enforcement partners will track down the firearms as well as the criminals who have sought to destabilize our community through illegal activity,” ATF Agent in Charge John A. Torres said in the statement.
Officials from several different agencies have investigated the theft, but only one of the rifles has so far been recovered.
The US Bureau of Alcohol, Tobacco, Fire arms and Explosives (ATF) along with the Federal Bureau of Investigation (FBI) are offering a reward of up to USD 10,000 for information leading to the location of the fire arms.
The reward was offered two weeks after 26 AK-47s and a Dragnov rifles were stolen from a supply warehouse at the army post at Fort Irwin military base in the southern California, ATF said in a statement, the Washington Post reported.
“Community participation is necessary to improve the likelihood that ATF and our law enforcement partners will track down the firearms as well as the criminals who have sought to destabilize our community through illegal activity,” ATF Agent in Charge John A. Torres said in the statement.
Officials from several different agencies have investigated the theft, but only one of the rifles has so far been recovered.
US is parasite on world economy: Putin
Russian Prime Minister Vladimir Putin says the United States is feeding on the world economy like a “parasite” by building up an unsustainable debt that threatens the global financial system.
In an address to a group of pro-Kremlin youths attending a summer camp north of Moscow on Monday, Putin accused the US of acting like a “parasite” by accumulating tremendous debts that have jeopardized global markets, AFP reported.
“The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite,” Putin said.
On Sunday, US President Barack Obama announced a last-minute agreement reached by members of Congress to raise the country's public debt limit, which will allow Washington to avoid its first default in history while enforcing a painful economic austerity plan on US citizens.
The Russian prime minister censured the United States' foreign exchange policy and stated that the world should begin using reserve currencies other than the dollar for trade and savings.
“If the US encounters a systemic malfunction, this affects everyone,” Putin noted, adding, “There should be other reserve currencies.”
Putin said that the debt deal announced by Obama “was not that great overall because it simply delayed the adoption of a more systemic solution.”
The agreement came after interminable wrangling on Capitol Hill on the period of time the country would need to lift the debt limit to avoid a default on its staggering $14.3 trillion debt.
The US officially hit its debt ceiling on May 16, with the prospect of a default threatening to increase interest rates, devalue the dollar, and jolt economies across the world.
Washington owes about 47 percent of the money to foreigners. The biggest creditors are China, Japan, and the United Kingdom.
In an address to a group of pro-Kremlin youths attending a summer camp north of Moscow on Monday, Putin accused the US of acting like a “parasite” by accumulating tremendous debts that have jeopardized global markets, AFP reported.
“The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite,” Putin said.
On Sunday, US President Barack Obama announced a last-minute agreement reached by members of Congress to raise the country's public debt limit, which will allow Washington to avoid its first default in history while enforcing a painful economic austerity plan on US citizens.
The Russian prime minister censured the United States' foreign exchange policy and stated that the world should begin using reserve currencies other than the dollar for trade and savings.
“If the US encounters a systemic malfunction, this affects everyone,” Putin noted, adding, “There should be other reserve currencies.”
Putin said that the debt deal announced by Obama “was not that great overall because it simply delayed the adoption of a more systemic solution.”
The agreement came after interminable wrangling on Capitol Hill on the period of time the country would need to lift the debt limit to avoid a default on its staggering $14.3 trillion debt.
The US officially hit its debt ceiling on May 16, with the prospect of a default threatening to increase interest rates, devalue the dollar, and jolt economies across the world.
Washington owes about 47 percent of the money to foreigners. The biggest creditors are China, Japan, and the United Kingdom.
'US contractor rips off Pentagon'
A US judicial report has revealed that, in an act of embezzlement, a US government contractor in Iraq has overcharged the US Department of Defense for items it sold to the Pentagon.
In a written statement, US Special Inspector General for Iraq Reconstruction Stuart Bowen said that a review found that the Pentagon contractor, Anham LLC, allowed its subcontractors in Iraq to charge the Pentagon USD 900 for a 7-dollar control switch, the Associated Press reported.
The overcharging also included requesting USD 3,000 dollars for a 100-dollar circuit breaker, and USD 80 for a piece of plumbing equipment worth USD 1.41.
Bowen's inspectors are seeking to review all Anham contracts with the US government in Iraq and Afghanistan, worth a total of about USD 3.9 billion.
Hassan Judeh, the administration director at Anham's headquarters in Vienna, declined to comment on Bowen's remarks.
In June, US auditors said as much as USD 6.6 billion in Iraqi reconstruction funds may have been stolen in "the largest theft of funds in national history."
However, the Pentagon insisted that all of the money remained under the Iraqi government control the entire time.
In a written statement, US Special Inspector General for Iraq Reconstruction Stuart Bowen said that a review found that the Pentagon contractor, Anham LLC, allowed its subcontractors in Iraq to charge the Pentagon USD 900 for a 7-dollar control switch, the Associated Press reported.
The overcharging also included requesting USD 3,000 dollars for a 100-dollar circuit breaker, and USD 80 for a piece of plumbing equipment worth USD 1.41.
Bowen's inspectors are seeking to review all Anham contracts with the US government in Iraq and Afghanistan, worth a total of about USD 3.9 billion.
Hassan Judeh, the administration director at Anham's headquarters in Vienna, declined to comment on Bowen's remarks.
In June, US auditors said as much as USD 6.6 billion in Iraqi reconstruction funds may have been stolen in "the largest theft of funds in national history."
However, the Pentagon insisted that all of the money remained under the Iraqi government control the entire time.
Israel launches airstrike on south Gaza
The Israeli air force has launched an airstrike on the southern Gaza Strip, destroying a tunnel under the enclave's border with Egypt.
In the early hours of Tuesday morning, Israeli F-16 warplanes fired two missiles at the target, Xinhua reported, citing witnesses.
No deaths or injuries have been reported so far.
Although the Israeli military officially withdrew from Gaza in 2005, they still frequently bomb the tunnel network, saying Palestinian resistance fighters use the tunnels for storing and smuggling weapons.
But the Palestinians dismiss the allegations, arguing they have resorted to the underground tunnels to bring basic needs to the impoverished Gazans because the territory has been sealed by an Israeli blockade for over four years.
In the early hours of Tuesday morning, Israeli F-16 warplanes fired two missiles at the target, Xinhua reported, citing witnesses.
No deaths or injuries have been reported so far.
Although the Israeli military officially withdrew from Gaza in 2005, they still frequently bomb the tunnel network, saying Palestinian resistance fighters use the tunnels for storing and smuggling weapons.
But the Palestinians dismiss the allegations, arguing they have resorted to the underground tunnels to bring basic needs to the impoverished Gazans because the territory has been sealed by an Israeli blockade for over four years.
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