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December 7, 2016 / 7 Kislev, 5777

Posts Tagged ‘million’

Elbit Gets US Army Mortar Weapon Systems $103 Million Contract

Thursday, November 24th, 2016

Elbit Systems Ltd. On Wednesday announced that its US subsidiary, Elbit Systems of America, LLC, was awarded an Indefinite Delivery/Indefinite Quantity (‘ID/IQ’) contract for the production of mortar weapon systems. The contract, with a maximum value of up to approximately $103 million, will be carried out over a five-year period. An initial purchase order has already been awarded.

Elbit Systems of America signed a Memorandum of Understanding (‘MOU’) with the United States Army’s Watervliet Arsenal (WVA), New York, which will effectively employ WVA as a subcontractor to Elbit Systems of America on many mortar components.

“We are extremely pleased to continue our partnership with the United States Army by supplying our warfighters with the mortar weapon systems that enhance their mission effectiveness and provide the necessary precision and flexibility to address current and future threats,” commented Raanan Horowitz, President and Chief Executive Officer of Elbit Systems of America.

The award of the mortar weapon systems solidifies Elbit Systems of America’s position as the leading provider of mortar systems for the US Army.

David Israel

Days Before the Elections Adelsons Give Trump $10 Million

Sunday, October 16th, 2016

Casino magnate Sheldon Adelson and his wife, Miriam, finally gave $10 million in September to mega-donor Todd Ricketts’s pro-Trump super PAC Future45, according to the latest filings with the Federal Election Commission. The group raised another $2.3 million from Todd Ricketts’ billionaire father, TD Ameritrade founder Joe Ricketts, and energy executives Joe Craft and Jay Bergman.

According to a Politico analysis, only $68.7 million out of the $212 million Trump collected over the past three months in joint ventures with the RNC and state parties ended up in his campaign coffers, with $63.5 going to overhead expenses: consultants, catering, space rentals, list rentals, direct mail and online ads. Another $9.3 million is earmarked for special RNC accounts for convention expenses. The rest was split with the RNC and state parties. According to the FEC filings, the Hillary Clinton campaign spent only 22 cents on overhead for every dollar raised, compared with Trump’s 30.

Back in September, The Guardian reported that Adelson was planning to donate as much as $25 million to Future45. Later that figure was reduced to a mere $5 million, and now, apparently, they settled on $10 million.

Last week, Trump mentioned Adelson at a rally in Nevada, when he referred to the Las Vegas Review Journal, the largest newspaper in Nevada, which Adelson purchased through a proxy last year. “Good paper, owned by a great guy — Sheldon, Sheldon, Sheldon Adelson,” Trump said, adding that Adelson is a “big supporter of Israel.”

Statements from both presidential campaigns made on Saturday showed Clinton leading with $154 million raised in September and $150 million cash on hand, to Trump’s $100 million raised and $75 million in the hand.

JNi.Media

As 5777 Rolls In, Israel’s Population at 8.585 Million

Wednesday, September 28th, 2016

On the eve of the Jewish new year 5777, Israel’s population is estimated at 8.585 million, not including about 183 thousand foreign residents, according to a statement released Tuesday by the Israeli Central Bureau of Statistics.

The Jewish population of Israel has reached about 6.419 million, constituting 74.8% of the overall population.

The Arab population is 1.786 million, or 20.8% of the overall population.

Non-Arab Christians, as well as members of other religions and individuals without religious affiliation are estimated at 380 thousand, about 4.4% of the overall population.

Since last Rosh Hashanah, Israel’s population has grown by about 172,000. The rate of growth remained at 2%, similar to previous years.

About 189 thousand babies were born in Israel in 5776, and an estimated 46 thousand passed away.

Some 30 thousand were added to the immigration balance, 25 thousand out of them new olim.

It should be noted that 5776 was a leap year, with 13 lunar months, or 385 days.

JNi.Media

He Promised $100 Million, Now Adelson Finally Gives Trump $5 Million

Tuesday, September 20th, 2016

Back in May, the NY Times reported that casino magnate Sheldon Adelson promised presidential hopeful Donald Trump in a private meeting that he was willing to contribute “a sum that could exceed $100 million,” this “according to two Republicans with direct knowledge of Mr. Adelson’s commitment.” Well, according to CNN, on Tuesday Adelson kept 5% of said commitment. This time Adelson, who in 2012 sank $100 million in several Republican nominees and ended up with zero returns on his investment, will hand out $40 million to Congressional Republicans and only $5 million to the Trump campaign.

CNN pointed out that even this smaller donation is the first the Adelsons have doled out in all of the 2016 election season. After the giant bundle he parted with four years ago, Adelson has been courted by the entire Republican presidential field and every Republican on the Hill. Now that Sheldon and his wife Miriam have decided to give something, other big time GOP donors might get over their fears of helping Trump become the next president. In that context, Trump needed Adelson’s approval more than his money.

Meanwhile, Hillary Clinton and the Democratic Party have had their best fundraising month in August, pulling in $143 million for the campaign and for the party. This represents a 58% rise from July, when Hillary took in $90 million. The Washington Post reported that in August $62 million went to Hillary and $81 million to the Democratic National Committee and state parties. So, pneumonia, shneumonia, Hillary attended more than 70 fundraising events in August.

In May, Adelson wrote an op-ed in the Washington Post that since “it is clear that Donald Trump will be the Republican nominee for president … I am endorsing Trump’s bid for president and strongly encourage my fellow Republicans — especially our Republican elected officials, party loyalists and operatives, and those who provide important financial backing — to do the same.” Not so much out of his admiration for the real estate magnate from New York City, but because “the alternative to Trump being sworn in as the nation’s 45th president is frightening.”

Adelson berated “some Republicans” who are “sitting on the sidelines, threatening to stay home on Election Day or, worse, suggesting they will vote for Clinton. They must realize the stakes are too high for an outcome that will have a damaging impact on our country.”

So, it’s clear Adelson doesn’t like Hillary Clinton. Does the same go for his protégé, Prime Minister Netanyahu? Who knows. The fact that Adelson is only risking $5 million on his Trump investment, after having lavished so much more on the likes of Newt Gingrich and Mitt Romney, speaks volumes.

David Israel

Agreement Reached on PA $530 Million Electricity Debt

Wednesday, September 14th, 2016

Following a year-long negotiation, Israel and the Palestinian Authority on Tuesday signed an outline for the resolution of the latter’s debt to the Israel Electric Company as well as the reorganization of the PA energy market. As part of the outline, the PA will transfer to the IEC about $150 million, out of an overall accumulated debt of $530 million, in return for an Israeli agreement to forgive about $132 million in accumulated interest. The rest will be paid by the PA in 48 payments over the next four years.

The agreement was signed at the Government Compound in Tel Aviv, by Finance Minister Moshe Kahlon, and the PA Civil Affairs Minister Hussein al-Sheikh.

The agreement places full responsibility for electric bills collection on the PA, which in the past rejected its responsibility for the debt, claiming it fell under the jurisdiction of local electricity distribution companies. This will enable the IEC to deal with just one PA customer, instead of the long list of power companies and individual clients it had been serving in the PA — and had difficulties collecting from. The mounting debt curbed the IEC’s capacity to develop and increase the power it was offering the PA economy. In fact, in an attempt to collect the debt, the IEC would initiate blackouts in various municipalities across the PA, and collected a portion of the taxes Israel collects for the PA on goods and income, which made things even worse for local economies and was fiercely criticized abroad.

Now Israel will pay the PA the more than $260 million it withheld on behalf of the IEC.

The Israeli Finance Ministry was delighted with the new agreement, stating that it will “establish a stable and fair commercial relationship between the IEC and the PA, introduce steps to guarantee full payment for future PA consumption, as well as facilitate new energy projects” for the economic development of the PA.

Minister Kahlon said at the signing that the new deal “will spare us many future disagreements and conflicts,” adding that “this is a first step on a long road and both sides are required to show dedication and decisiveness to complete the application of the outline.”

Minister Al-Sheikh said he hoped this negotiation would be one of many peace agreements between the PA and Israel.

JNi.Media

Israel Expected to Supply Additional 30 Million Cubic Meters of Water to PA

Thursday, September 1st, 2016

At the World Water Week in Stockholm, Sweden, Israel’s representative, Deputy Minister Ayoub Kara, reported the anticipated signing of an agreement by Israel to supply the Palestinian Authority with an additional 30 Million cubic meters of water (6,599,077,500 gallons) as part of the planned Red Sea–Dead Sea Canal.

All of which did not stop the PA representative from launching a sharp attack on Israel’s water policy.

David Israel

Israeli Satellite Company Sold to Chinese for $285 Million

Saturday, August 27th, 2016

Beijing Xinwei Technology Group is buying Israeli Spacecom Satellite Communications Ltd for $285 million, both companies announced last week. Spacecom operates the Amos-2, Amos-3 and Amos-4 communications satellites and is owned by Eurocom Group, which is controlled, in turn, by Shaul Elovitch, controlling shareholder of Bezeq Israeli Telecommunication.

According to a press release statement, Beijing Xinwei Technology Group is buying Spacecom and will integrate it into an existing Luxembourg company called Luxembourg Space Telecommunication S.A., which will be the legal purchaser of Spacecom. After the acquisition is complete, Spacecom will become a private company, but its debentures will continue to be traded on the Tel Aviv Stock Exchange.

The merger requires shareholder and regulatory approval before it can be finalized. According to Space News, the transaction’s terms are pending the successful entry into service of Spacecom’s Amos-6 telecommunications satellite, built by Israel Aerospace Industries and scheduled for launch Sept. 3 aboard a SpaceX Falcon 9 rocket.

The price being paid is a 30% premium on the share’s market price, according to Globes. The deal reflects a premium of 41 percent to Spacecom’s average stock price in the past month, according to Reuters.

Spacecom Chief Executive David Pollack said in a statement that the “global market of communication satellites is undergoing a consolidation process, enabling the merging companies to improve their competitiveness,” and so “further to contacts with various entities, the negotiations with the Beijing Xinwei Group matured into this transaction, reflecting a substantial premium on the market price.”

Pollack noted that “Beijing Xinwei is a strategic partner, expert in the field of telecommunication, planning to expand its business in the communication satellites field. The merger will provide the Company with financial strength, and will enable further development and growth. The transaction is performed in accordance with Space Communication’s license terms, stipulating, inter alia, that the satellites will be operated from Israel, and that the Company shall remain an Israeli company, regardless of the identity of the shareholders of the Company.”

JNi.Media

Printed from: http://www.jewishpress.com/news/breaking-news/israeli-satellite-company-sold-to-chinese-for-285-million/2016/08/27/

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