Tag Archives: business

Monetary Authority Cycle Indicator Increases in West bank, Gaza

Posted on May 19, 2013

RAMALLAH, May 19, 2013 (WAFA) The overall Palestinian Monetary Indicator for the Business Cycle (PMABCI) witnessed an increase from -2.12 in April to 3.8 in May, said a press release by Monetary Authority on Sunday.

The following figure clarified a considerable improvement in the West Bank indicator, as its value increased from -5.4 in April to 1.93 in May.

This indicated a sustained improvement in the economic conditions in the West Bank, which is reflected by the upward trend of the PMABCI since November 2012.

The release said that the Gaza indicator increased, though with a slower pace than in the West Bank, and reached 1.76, which is a relative improvement over the previous month.

It said Gaza still suffers from apparent fluctuations in overall economic performance that are influenced by several exogenous and endogenous variables, particularly, related to the Israeli siege.

The release attributed the limit of the expectations of an economic improvement in the short run to the severe economic conditions in Gaza since June 2007, in addition to the lack of political prospect under the Israeli siege and the continued drift with the West Bank.

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Smugglers Bring KFC into the Gaza Strip

Posted on May 18, 2013

AFP / Getty Images

A smuggler carries food from a KFC in Egypt to be delivered via an underground tunnel linking the Gaza Strip to Egypt, in Rafah, on May 13, 2013.

Colonel Sanders would be proud. While the 74-year-old secret recipe for his fried chicken has remained firmly under wraps, cravings for his deep-fried deliciousness have become so widespread that an entrepreneur has begun smuggling KFC to customers in the Gaza Strip using secret underground tunnels. According to the New York Times, Khalil Efrangi, 31, runs a small shop in Gaza called Yamama that will deliver a 12-piece bucket of KFC for $27, about twice what it costs across the border in Egypt, where the food is prepared.

Since Israel strengthened the blockade on its Gazan border with Egypt in 2007, People have used the hundreds of underground tunnels that connect Egypt and Gaza to smuggle in everything from motorcycles to fish to brides, reports the New York Daily News. So KFC seems like a natural extension for the clandestine trade route, even if the contraband meals can take up to four hours to arrive.

(MORE: KFCs Colonel Sanders: he Was Real, Not Just an Icon)

The idea for the illicit operation began with a craving. According to the Christian Science Monitor, a few years ago Efrangis employees first ordered food for themselves from a KFC restaurant in the Egyptian city of El Arish, about 35 miles away. After that meal was successfully smuggled in, Efrangi decided to start a delivery business for all Gazans. The idea quickly caught on Yamama got more than 20 orders a few hours after he advertised the business on Facebook.

(More: Egypts New Challenge: Sinais Restive Bedouins)

Now Efrangi employs two taxi drivers, several smugglers and a fleet of motorbikes that stand ready to fetch fried chicken, fries, coleslaw and apple pies. And although the food is long past its prime, Its delicious even as its not hot, Aboud Fares, 22, told Xinhua. In other words, the Colonels secret recipe is still finger lickin good, even at room temperature.

(More: Egypt Attempts to Flush Out Gazas Smuggling Tunnels)

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Gaza Sky Geeks: Supporting tech entrepreneurs in the Gaza Strip

Posted on May 13, 2013

In the isolated Gaza Strip, economic instability is a constant. But a startup accelerator called Gaza Sky Geeks Laboratory plans to help the region capitalize on one of its biggest assets: its technical graduates.

Between Gazas five universities, more than 2,000 young people graduate with technical degrees every year. Mercy Corps started the Arab Developer Network Initiative (ADNI), with a grant from Google.org a few years ago, and a number of programs supporting young entrepreneurs have come out of it, including Gaza Sky Geeks. The Laboratory will support standout technology entrepreneurs in Gaza, providing a wide range of free services designed to help them turn their ideas into viable investments. Global Envision connected with Reem Omran, co-founder of Gaza Sky Geeks, to talk about the effort–and whether Gaza could become the next IT hub in the Arab world.

Whats the blueprint for helping start-ups? Reem Omran: The primary objective of Gaza Sky Geeks is to prepare start-ups for the next stage. We will provide logistical and consulting services, as well as workshops that can help them turn their ideas into concrete business plans, capable of securing investment.

What resources does the accelerator offer? Gaza Sky Geeks is outfitted with high-speed internet, desktop computers, iPads and Androids[mc1] so that members have a reliable space to work on their projects. Members also have access to meeting spaces and a coffee shop, where they can network and collaborate on ideas.

What about events? The accelerator hosts three types of events; workshops, hackathons, and mentorship programs and lectures. The workshops are held on a weekly basis and are designed to help with product development and promotion. Hackathons are held so that programmers have a forum to share ideas and explore software development. And the mentors are brought in to give developers feedback on their ideas and critique their business plans.

At the accelerator, are the resources and events free of charge? Yes, you only need to be a member to use them.

What are the biggest barriers facing members? Electrical shortages are common, and Gazas reputation as a conflict zone makes it difficult to attract investors. However, at the core the issues are the same as those facing start-ups everywhere. Many technology entrepreneurs are passionate about their field and ideas, but transforming a vision into a viable business plan is tricky. Most people in the IT industry in Gaza dont receive a business education, let alone have experience running one.

How is Gaza Sky Geeks helping to bridge this gap? This is where the mentors are key. As I mentioned, most programmers in Gaza dont have experience running a business, and so sometimes their target audience is off or their marketing strategy isnt practical, and so on. Mentors can provide valuable constructive criticism so that start-ups can strengthen their goals and infrastructure to become a feasible investment.

In the coming months, Gaza Sky Geeks will select the top five startups to participate in a three-month intensive acceleration program. Selected startups that participate in the acceleration program will be linked with five dedicated mentors who have varying backgrounds and experience. The three-month accelerator will also provide targeted business and technical training so each startup has a scalable business plan and validated prototype at the conclusion of the accelerator. Throughout the three-month program, each startup will work on a one- and three-minute pitch that they will give to potential investors at a Gaza demo day and regional road shows in cities such as Doha, Amman and Cairo.

Stay up to date on Gaza Sky Geeks on Facebookand Twitter: @GazaSkyGeeks

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Firms move out of Folkestone's 'Gaza Strip'

Posted on April 30, 2013

DRUG-TAKING and reports of prostitution in the heart of Folkestone’s Creative Quarter have led to two businesses packing up and walking away in recent weeks.

Episode 2 owner Tim Fry shocked customers by announcing on Facebook that his salon was shutting after nine years in Tontine Street, citing a lack of custom.

HAD TO LEAVE: Bakhtiyar Kadir

In a damning indictment of business in the area, once known as the “Gaza Strip” of Folkestone, he said prostitution and drug deals were more common than passing trade.

Clean Cut Barbers owner Bakhtiyar Kadir also moved out of the street a few weeks ago.

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G4S divests Israel West Bank operations

Posted on April 24, 2013

Britain’s G4S plc (LSE: GFS; OMX: G4S), the world’s largest security services company in terms of revenue, has confirmed it is planning to quit key contracts in Israel amid protests against its involvement in settlements within occupied Palestinian territories,” the “Financial Times” reported today.

“Financial Times” adds, “The company employs 6,000 people in Israel, where it provides and maintains screening equipment for several West Bank military checkpoints. It also manages security systems at the controversial Ofer Prison in the Occupied West Bank. But with sporadic international protests continuing both outside the FTSE 100s headquarters in London and internationally, the company said it would exit the contracts covering Ofer, the checkpoints and the West Bank police headquarters when they terminate in 2015.”

“Financial Times” reports, “Last week, 19 non-government organizations from Egypt, Lebanon, Jordan and Palestine called on Arab nations and the European Union to stop dealing with G4S. The Scottish Trades Union Congress also voted on Tuesday to support Palestinian calls for a boycott of the multinational.”

Having conducted a review in 2011, we concluded that, to ensure that G4S Israel business practices remain in line with our own business ethics policy, we would aim to exit the contracts which involve the servicing of security equipment at a small number of barrier checkpoints, a prison and a police station in the West Bank area, G4S told the “Financial Times”.

It adds, “The move will nevertheless disappoint protesters, who have called on G4S to end all dealings with the Israeli prison authorities. The security company will continue to service security systems in commercial and government sites inside Israel, including jails housing Palestinian inmates, after 2015.”

G4S operates in Israel through four business divisions for technology security and physical security of sites with guards. “The group earned 100 million in sales at its Israeli operations last year. But the division accounts for just 1% of global revenues, and 1% of profits at the global group, which employs 625,000 people in 125 countries,” says the “Financial Times”.

“Financial Times” says that G4S has established a risk committee and is conducting more formal reviews of the operational and reputational dangers of contracts worth more than 20 million. It has also stated its ambition to offload underperforming parts of the business.

The newspaper quotes Jeffries analyst Kean Marden as saying, G4S Israel may be next to be divested? The Israel/Palestine conflict has created reputational issues. In our view the potential disposal of G4S Israel could be announced as soon as the 25 June capital markets day.”

G4S said in response, “These are decisions made more than two years ago, and there has been no change in the decision since then.

Published by Globes [online], Israel business news – www.globes-online.com – on April 22, 2013

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G4S quits Israel West Bank operations

Posted on April 22, 2013

Britain’s G4S plc (LSE: GFS; OMX: G4S), the world’s largest security services company in terms of revenue, has confirmed it is planning to quit key contracts in Israel amid protests against its involvement in settlements within occupied Palestinian territories,” the “Financial Times” reported today.

“Financial Times” adds, “The company employs 6,000 people in Israel, where it provides and maintains screening equipment for several West Bank military checkpoints. It also manages security systems at the controversial Ofer Prison in the Occupied West Bank. But with sporadic international protests continuing both outside the FTSE 100s headquarters in London and internationally, the company said it would exit the contracts covering Ofer, the checkpoints and the West Bank police headquarters when they terminate in 2015.”

“Financial Times” reports, “Last week, 19 non-government organizations from Egypt, Lebanon, Jordan and Palestine called on Arab nations and the European Union to stop dealing with G4S. The Scottish Trades Union Congress also voted on Tuesday to support Palestinian calls for a boycott of the multinational.”

Having conducted a review in 2011, we concluded that, to ensure that G4S Israel business practices remain in line with our own business ethics policy, we would aim to exit the contracts which involve the servicing of security equipment at a small number of barrier checkpoints, a prison and a police station in the West Bank area, G4S told the “Financial Times”.

It adds, “The move will nevertheless disappoint protesters, who have called on G4S to end all dealings with the Israeli prison authorities. The security company will continue to service security systems in commercial and government sites inside Israel, including jails housing Palestinian inmates, after 2015.”

G4S operates in Israel through four business divisions for technology security and physical security of sites with guards. “The group earned 100 million in sales at its Israeli operations last year. But the division accounts for just 1% of global revenues, and 1% of profits at the global group, which employs 625,000 people in 125 countries,” says the “Financial Times”.

“Financial Times” says that G4S has established a risk committee and is conducting more formal reviews of the operational and reputational dangers of contracts worth more than 20 million. It has also stated its ambition to offload underperforming parts of the business.

The newspaper quotes Jeffries analyst Kean Marden as saying, G4S Israel may be next to be divested? The Israel/Palestine conflict has created reputational issues. In our view the potential disposal of G4S Israel could be announced as soon as the 25 June capital markets day.”

G4S said in response, “These are decisions made more than two years ago, and there has been no change in the decision since then.

Published by Globes [online], Israel business news – www.globes-online.com – on April 22, 2013

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Jindal pitches tax plan to West Bank audience

Posted on March 28, 2013

Our opponents believe the status quo is working.” – Gov. Bobby Jindal

Gov. Bobby Jindal carried his proposal to rewrite Louisiana’s tax code to West Jefferson on Thursday, telling a crowd gathered for the 26th annual Governor’s West Bank Luncheon that eliminating personal income and corporate taxes will benefit everyday people while ridding the state of laws that are “riddled with loopholes and exemptions.”

“Our current tax code is complex,” Jindal said at the Alario Center near Westwego. “It’s unstable. It’s unfair.”

The proposal, which Jindal’s administration announced in January and will push during the legislative session starting next month, calls for raising the state sales tax from 4 percent to 5.88 percent, he said Thursday.

The Louisiana Association of Business and Industry went on record Wednesday saying it is ready to oppose the plan if it increases the tax burden that businesses carry. And last week a group of clergy members said it opposed the plan.

The annual West Bank Governor’s Luncheon, sponsored by the Harvey Canal Industrial Association, Jefferson Chamber of Commerce, Plaquemines Association of Business and Industry and Algiers Economic Development Foundation, also serves as a benefit for Cafe Hope, a job training and life skills program in Marrero for underprivileged youth.

Touting statistics he has relied on to stump for his plan, Jindal said opponents include groups with lobbyists who have embarked on a misinformation campaign, saying taxes would be raised for low- and middle-class Louisiana residents. He said the current tax code includes about 480 loopholes and exemptions that benefit those who oppose the plan.

“Our opponents believe the status quo is working,” Jindal said.

Countering opponents who say his plan would raise taxes on the low-income and middle classes, Jindal said a teacher earning $45,000 per year would see a reduction in tax burden of $680. He said Nevada, South Dakota and Wyoming don’t have income taxes, and those states have budget surpluses.

“It’s not a coincidence that states without any income taxes have grown faster,” Jindal told reporters after the luncheon.

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Jindal to address Governor’s West Bank Luncheon Thursday

Posted on March 27, 2013

The Governor’s West Bank Luncheon is Thursday at the Alario Center near Westwego and a few tickets are still available. Doors open at 11 a.m., and the luncheon begins at 11:30.

Gov. Bobby Jindal will address the event, whose proceeds benefit Cafe Hope, a job training and life skills program in Marrero for at-risk youth.

The cost is $40 per ticket.

State Rep. Bryan Adams, R-Terrytown, and Jefferson Parish Councilman Ricky Templet are coordinating the event, which is sponsored by the Harvey Canal Industrial Association, Jefferson Chamber of Commerce, Plaquemines Association of Business and Industry, and Algiers Economic Development Foundation.

Tickets are available at Adams’ office, 1801 Stumpf Blvd., Suite 2A, Terrytown. For more information, call 504.361.6013.

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Jindal to deliver West Bank address – KALB-TV News Channel 5 & CBS 2

Posted on March 12, 2013

WESTWEGO, La. (AP) – Gov. Bobby Jindal will address elected officials and business leaders March 28 at the annual West Bank Governor’s Luncheon in Westwego.

The session is sponsored by the Harvey Canal Industrial Association, Jefferson Chamber of Commerce, Plaquemines Association of Business and Industry and the Algiers Economic Development Foundation.

Doors will open at 11 a.m. at the Alario Center on the west bank of Jefferson Parish. Tickets are $40 each.

More details are available from the Algiers Economic Development Association at 504-362-6436, by email at info(at)algierseconomic.com or online at www.algierseconomic.com.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Israel Accused Of Segregation After 'Arab Only' Buses Launch On West Bank

Posted on March 3, 2013

Israel’s Transportation Ministry has set up a number of bus lines for Palestinian passengers traveling between the West Bank and central Israel, YNet News reports.

While the ministry claims that the buses are for all passengers, it appears that only Palestinian villages have been told of their existence, sparking serious claims of segregation.

According to Ha’aretz, any Palestinian who holds an entrance permit to the State of Israel is legally allowed to use public transportation. However, the newspaper has previously reported on a number of incidents in which Arab passengers have been forced off of buses.

YNet News also spoke to several bus drivers, who claimed that under the new rules, due to start Monday, Palestinian passengers will be asked to leave the buses on mixed lines used by Jewish settlers.

Officially, the ministry claims the buses were only a result of crowding and tensions between Arab passengers and Jewish passengers. However, one source told YNet that security threats were also a consideration. According to Ha’aretz, pressure from Jewish settlers was a factor in the Transportation Ministry’s plan.

Ha’aretz also reports that the new lines are in part being created in a bid to stop so-called “pirate” driving services that have sprung up to help Arab workers get into central Israel. These services often charged high prices and will presumably be put out of business by the new, cheaper lines.

The news has sparked considerable coverage in Arab media, with Al Arabiya asking if the area needed another “Rosa Parks moment” and comparing the situation to racial segregation in the U.S. On Twitter, the Atlantic’s Jeffrey Goldberg argued that the controversy over the lines showed West Bank settlements were “incompatible with democracy”.

YNet spoke to one bus driver who seemed well aware of the controversy the plan would create, but seemed to say it was the only option. “Obviously, everyone will start screaming ‘apartheid’ and ‘racism’ now,” the bus driver said. “This really doesnt feel right, and maybe (the ministry) should find a different solution, but the situation right now is impossible.”

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