JERUSALEM — An Israeli court suspended the corruption trial of former Prime Minister Ehud Olmert on Thursday, a day after a longtime confidant of the ex-premier was arrested in a multimillion-dollar bribery scandal.
Olmert was mayor of Jerusalem when the bribery allegedly took place. It is not clear whether he was implicated in that case because there is a partial gag order on it.
The money allegedly changed hands to promote several real-estate projects, including a large development in Jerusalem that required a radical change in zoning laws.
On Wednesday, police arrested six men suspected of involvement in the case. Among them was Olmert's longtime confidant Uri Messer, who police suspect acted as a middleman, funneling bribes to a high-ranking city hall official who was not identified. The other suspects included a former city hall official and property developers.
Friday, April 09, 2010
Tuesday, March 23, 2010
Central Bank: No real estate bubble, despite low interest rates
The Bank of Israel is worried about the soaring real estate market, but it doesn't think there's a bubble, officials have said. And despite the stock market and the real estate market, it won't be raising interest rates, due to other economic factors.
Despite the increase in local housing prices, the Bank of Israel doesn't see any real estate bubble: Current housing prices are on average only 15% higher than prices in the 1990s, the bank says.
Despite the increase in local housing prices, the Bank of Israel doesn't see any real estate bubble: Current housing prices are on average only 15% higher than prices in the 1990s, the bank says.
Sunday, March 07, 2010
Barak’s real estate
Reports on Defense Minister Ehud Barak’s latest and grandiose real estate purchase reminded me of a sticker I recently saw on a vehicle: “We need a righteous leader”. What does “righteous” mean? I asked myself. First and foremost, it is someone who does more for others than for himself; one who sacrifices his own comfort and who is willing to suffer for the sake of others.
Can we point to even one member of our leadership who meets these criteria or at least approaches them? One person who at least looks like he’s suffering? Or even one who pretends to be suffering? You can search high and low and you won’t find one.
Moreover, if we keep looking we will likely find just the opposite - arrogance, haughtiness, pretentiousness, and greed, which not only reflect the aspirations and preferences of most of Israeli society, but worse than that, dictate them.
Can we point to even one member of our leadership who meets these criteria or at least approaches them? One person who at least looks like he’s suffering? Or even one who pretends to be suffering? You can search high and low and you won’t find one.
Moreover, if we keep looking we will likely find just the opposite - arrogance, haughtiness, pretentiousness, and greed, which not only reflect the aspirations and preferences of most of Israeli society, but worse than that, dictate them.
Friday, March 05, 2010
Jerusalem property makes it protagonist in Palestine conflict
During an appearance at Vassar College in early February, controversial New York Times Jerusalem bureau chief Ethan Bronner was asked about the ongoing evictions of Palestinian families from homes in East Jerusalem which Israel occupied in 1967. Israeli courts have ruled that Jewish settlers could take over some Palestinian homes on the grounds that Jews held title to the properties before Israel was established in 1948.
Bronner was concerned, but not only about Palestinians being made homeless in Israel's relentless drive to Judaize their city; he was also worried about properties in his West Jerusalem neighborhood, including the building he lives in, partially owned by The New York Times, that was the home of Palestinians made refugees in 1948. Facts about The New York Times' acquisition of this property are revealed for the first time in this article.
"One of the things that is most worrying not just the Left but a lot of people in Israel about this decision is if the courts in Israel are going to start recognizing property ownership from before the State [of Israel was founded]," Bronner said according to a transcript made by independent reporter Philip Weiss who maintains the blog Mondoweiss.net.
Bronner was concerned, but not only about Palestinians being made homeless in Israel's relentless drive to Judaize their city; he was also worried about properties in his West Jerusalem neighborhood, including the building he lives in, partially owned by The New York Times, that was the home of Palestinians made refugees in 1948. Facts about The New York Times' acquisition of this property are revealed for the first time in this article.
"One of the things that is most worrying not just the Left but a lot of people in Israel about this decision is if the courts in Israel are going to start recognizing property ownership from before the State [of Israel was founded]," Bronner said according to a transcript made by independent reporter Philip Weiss who maintains the blog Mondoweiss.net.
Saturday, January 16, 2010
Thursday, January 14, 2010
Israel's dream property location a "legal nightmare"
AFFA, Israel, Jan 13 (Reuters) - The Hattab home -- grey paint peeling from the walls, foundations sinking through the ground -- is squeezed in by brightly painted, three-storey villas blocking its view of the Mediterranean Sea.
"Our neighbourhood is shrinking. But why should we have to leave? It's where we've raised our children, where we grew up. If we're all evicted, well, you tell me who is left," says the Hattab's neighbour, Esther Seba.
She and the Hattabs are among almost 500 Arab families struggling to keep a toehold in Ajami, the Arab section of Jaffa that is rapidly becoming an artsy alternative to the brash modernity of Israel's metropolis Tel Aviv next door.
"The government should help us find a way to buy our homes or pay rent. Instead, they're trying to clear us out of here. Where are we going to go?" says 33-year-old Esther.
"Our neighbourhood is shrinking. But why should we have to leave? It's where we've raised our children, where we grew up. If we're all evicted, well, you tell me who is left," says the Hattab's neighbour, Esther Seba.
She and the Hattabs are among almost 500 Arab families struggling to keep a toehold in Ajami, the Arab section of Jaffa that is rapidly becoming an artsy alternative to the brash modernity of Israel's metropolis Tel Aviv next door.
"The government should help us find a way to buy our homes or pay rent. Instead, they're trying to clear us out of here. Where are we going to go?" says 33-year-old Esther.
Wednesday, January 13, 2010
Monday, January 11, 2010
Real estate companies to face debt problems this year
"The global financial crisis has not bypassed Israel. Last year, 20 percent of bond-issuing companies were in difficulties according to our calculations. Looking ahead to this year we estimate that in addition to that 20%, another 8% of the companies will face debt repayment difficulties," ISA chairman Zohar Goshen said at a capital market conference in Jerusalem.
"The majority of companies expected to face problems in recycling debt are real estate companies, many of which have active operations in Israel and not necessarily only in Eastern Europe," Goshen said.
"The majority of companies expected to face problems in recycling debt are real estate companies, many of which have active operations in Israel and not necessarily only in Eastern Europe," Goshen said.
Saturday, January 09, 2010
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