web analytics
June 28, 2016 / 22 Sivan, 5776

Posts Tagged ‘billion’

New Legislation Would Free Up $1.5 Billion in Credit for Israeli Housing Starts

Thursday, June 9th, 2016

Construction companies are no longer allowed to charge their customers fees for their own legal services, according to a key item in a new amendment to the Sales Law being promoted by the Ministry of Housing and Construction, Calcalist reported Thursday. Another significant change in the law would remove the requirement that contractors post a bank guarantee for the VAT portion of the cost of the apartment, and instead the state would set up a special fund to cover the buyers’ outlay. This would save contractors millions of dollars, releasing more than $1.5 billion in bank credit to the real estate market. The construction firm would still have to insure the rest of the buyer’s investment, in case said firm goes out of business.

The Housing Ministry, which began the move to amend the law nine months ago, is hoping the changes would pass by the end of the Knesset summer session in August. The move was spurred by the common understanding that the construction section of the current Sales Law is outdated, and has led real estate companies to develop their own ways of bypassing it, at the expense of their customers. The amendments were forged by an inter-office team that included Deputy Attorney General Erez Kamenetz, the Consumer Protection Authority, the Finance Ministry, and the Tax Authority.

“It is our responsibility to help the Israeli public get accessible housing, while legally protecting the buyers and maintaining fairness in all processes,” Minister of Housing Yoav Galant told Calcalist. One of the problems in the way housing business is done in Israel has to do with the buyer paying the contractor’s attorney for processing the new apartment at the Land Registry Office (the local word for the office is Tabu — no relation to taboos, the word is simply the Arabic mispronunciation of the Turkish word Tapu, or title-deed). A recent legislation limited the fees paid to said attorney to about $1,300, but even so, the clients may believe that by paying his fees the attorney is now working for them, which he certainly isn’t — he remains in the service of the contractor.

The Housing Ministry believes that registering the apartment and providing a legal deed is part of the overall product the contractor is expected to provide, and so they now want to go one step further and eliminate altogether the requirement for buyers to pay for this service.

There are other amendments which are not as crucial economically, but certainly add transparency to the process of buying an apartment in Israel. Companies would have to inform buyers of every change they intend to make in the original construction plan, for instance, if they want to add apartments. They also must inform buyers of changes in nearby lots, so that, if, for instance, their magical view of the Mediterranean would now be blocked by a 48-story tower, buyers would have the opportunity to get out of the deal and look elsewhere.

Contractors may no longer be permitted to sell apartments on land that is yet to be re-zoned for construction. If a plan for a new housing construction exists but the permit for building has yet to be issued, firms may sell units to buyers, but only with the proviso that the project is not yet legally authorized, providing the date for the expected authorization, and that buyers can get their money back in its entirety should the permit not be issued.

Also, any significant change in a purchased apartment’s layout, including in common areas such as storage spaces and lobbies, would be considered legally as failure to fulfill the contractor’s commitment and buyers may recoup their investment.

JNi.Media

PMW Reports PA’s ‘Billion Dollar Fraud’

Wednesday, April 27th, 2016

A special report by Palestinian Media Watch reveals a major fraud by the Palestinian Authority, through which it is reaping more than a billion dollars in foreign aid annually.

In 2014, the PA announced that in order to continue receiving more than a billion dollars in financial support annually, it was acceding to US and European donor countries’ demands that the PA stop paying salaries to terrorist prisoners. The PA claimed the money for prisoners’ salaries would no longer be paid by the PA but instead by the PLO.

Even though PMW warned at the time that this was nothing more than a ploy, the US and the EU countries accepted the PA’s assurances, and continue to pay the PA more than a billion dollars in financial aid every year.

The PMW special report cites numerous official PA sources and statements by officials, showing that the PA is violating the trust of the US and the EU. According to all these sources, the PA Ministry of Finance continues to make the decisions and remains the source of the money for paying salaries to terrorist prisoners.

In addition, records of the PA Ministry of Finance show money transfers the PA made to the PLO in the years 2012 – 2015. These transfers show a noteworthy money trail used to transfer money that is used for terrorist salaries from the PA to the PLO. In 2015, after the PA had assured Western donors it was no longer paying the salaries, and after it had closed the Ministry of Prisoners’ Affairs, it suddenly transferred more than double what it had transferred to the PLO in previous years. The additional amount transferred by the PA to the PLO in 2015 was almost identical to the budget the PA Ministry of Prisoners’ Affairs used to have. This extra money the PLO received from the PA in 2015 matches the amount the PLO now needed to pay the salaries of terrorist prisoners.

The payments may be made by the PLO, but the money is still PA money.

Since it continues to fund salaries to terrorists, thereby clearly violating its promise to donors, the PA should be ineligible to receive Western donor money. However, through this deception the PA is still reaping over a billion dollars in foreign aid.

Click here to view the full report in PDF
JNi.Media

Israel: the Impudence Accompanying Betrayal

Wednesday, November 13th, 2013

Originally published at Rubin Reports.

I’ve always been amazed that anyone thought the United States would ever act against the Iranian nuclear threat. There was never any chance that such a thing would happen. The United States would never go to war with tens of millions of people.

Moreover, there was never any chance the United States would let Israel “attack” Iran.

In a Huffington Post article by Steven Strauss, the author quotes Netanyahu:

“‘I believe that we can now say that Israel has reached childhood’s end, that it has matured enough to begin approaching a state of self-reliance… We are going to achieve economic independence [from the United States].’ Israeli Prime Minister Benjamin Netanyahu to a Joint Session of the United States Congress – Washington D.C., July 10, 1996 (Source: Israeli Ministry of Foreign Affairs).”

Unfortunately, today, almost 20 years later, this is not a fair statement to quote. Strauss continues: “In 1997, Israel received $3.1 billion in aid from the U.S. In 2012, Israel was still receiving $3.1 billion annually in U.S. aid.”

This, however, is not an appropriate comparison today. Let us look at the current situation: Egypt will receive $2 billion in U.S. aid; Saudi Arabia will receive military aid as well as the anti-Asad Syrian rebels; Turkey will receive billions of dollars and probably military equipment. Moreover, the United States and Europe will also reach out to Iran, and Hizballah and Syria will receive aid from Iran. In addition, the Palestinians have not made the least bit of commitment on a two-state solution. In other words, only Israel would lose. And this is the childhood’s end?

Strauss further notes, “Israel has become an affluent and developed country that can afford to pay for its own defense.” But the point is that other hostile countries will be receiving more while Israel will get the same amount.

He continues, “… Israel has a well developed economy in other ways.” But again, Israel will be placed at much more of a disadvantage.

The article’s claim, “Other countries/programs could better use this aid money,” does not state the reality.

“Even domestically, the aid that goes to Israel could be useful. Detroit is bankrupt, and our Congress is cutting back on food stamps, and making other painful budget cuts.” Again, the United States does not face an immediate threat from its neighbors, while Israel does. Moreover, this is shockingly implying that Israel is stealing money from poor people in the United States.

In other words, this is not equivalent.

“Israel and the United States have increasingly different visions about the future of the Middle East.” But again, so what? This is absolutely irrelevant.

“A major (bipartisan) goal of the United States has been the two-state solution to the Israeli-Palestinian conflict.” Once again, this is a policy that is impossible, but the United States is going to try to force it on Israel anyway.

Note that the less security the United States and the West provide to Israel, the more difficult it makes it to secure or promote a desirable two-state solution. Strauss adds, “However, the current Israeli government is clearly not committed to the U.S. vision, and has done everything possible to sabotage American efforts.”

The problem with this last point is that the Palestinians have always tried to sabotage this. If this concept hasn’t gotten across in a quarter century, I can’t imagine when it will get across.

The current Israeli government has tried for many years to achieve a two-state solution and has made many concessions. And if Kerry can’t take Israel’s side on this issue, then I can’t imagine how decades of U.S. policy has been carried out. To say that the Israeli government is not committed is a fully hostile statement.

This claims Israeli settlement and not Palestinian intransigence has blocked the peace process.

Note that the author of this article has “distinguished” credentials: “Steven Strauss is an adjunct lecturer in public policy at Harvard’s Kennedy School of Government.”

Yet if this is what the U.S. government understands, it will end badly. Moreover, the issue of Iran and nuclear weapons is not the important point; rather, it is the transformation of the U.S. Middle East position that is significant. I do not believe there is any chance Iran will use nuclear weapons. The problem is that this is reversal of the U.S. policy. In other words, it is like going back to 1948 and opposing partition.

Finally, what this is all about is money and greed. Many European countries are drooling about the money to be made. For example, Vittorio Da Rold writes (Il Sole 24 ore), “Italian SMEs are hoping for a rapid agreement on the Iranian nuclear issue in order to return as soon as possible to trade without limits with Tehran and the rich Iranian market in hopes of finding new markets in a time when the European market flirts with deflation.”

Barry Rubin

Blue and White, All the Waze

Monday, May 13th, 2013

Waze and Facebook have reached an impasse in their negotiations, but not over whether Facebook will buy Waze for 700 million dollars, or a clean billion, but over Israel, according to the Israeli site Telecom News.

Facebook wants to close down Waze’s Raanana office, and transfer some of the developers to the U.S.

While the proudly Zionist Waze wants the development facility to remain in Israel.

Both companies are holding their ground on this issue.

Of course, Facebook is also not noted for their particularly great coding skills, and the Waze people may be concerned about what will happen to their product if Facebook developers start playing with it without adult supervision.

Jewish Press News Briefs

Russian Jewish Billionaire’s Death a ‘Mystery’

Sunday, March 24th, 2013

London forensics experts found no traces of hazardous materials to explain the mysterious death of Boris Berezovsky, a 67-year-old Jewish oligarch and Kremlin critic.

Russia’s Channel One reported that his body was found on Saturday in the bathroom of his home in the London area, and that he had suffered a heart attack last week. But ThamesValley police say his death is being treated as “unexplained,” the Guardian reported.

“Officers found nothing of concern in the property and we are now progressing the investigation as normal,” said a statement from police about tests for biological or chemical poisons,

Berezovsky fled to Britain about 10 years ago, after a bitter falling out with Russian President Vladimir Putin amid fraud charges that Berezovsky said were politically motivated. He was born in Moscow in 1946 to a Jewish father and a mother with Jewish roots. He immigrated to Israel in 1993 but later renounced his Israeli passport.

Berezovsky became a strident and frequent critic of Putin, accusing the leader of ushering in a dictatorship.

He accumulated his wealth in the years following the collapse of Soviet Russia, when he acquired local firms, among them oil companies and television stations, rising to prominence during the term of Boris Yeltsin in the nineties. Russian media reported recently that Berezovsky, once the richest man in Russia, had suffered heavy losses.

JTA

Printed from: http://www.jewishpress.com/news/breaking-news/russian-jewish-billionaires-death-a-mystery/2013/03/24/

Scan this QR code to visit this page online: