Australia likely to move its embassy from Tel Aviv to Jerusalem

Agencies
October 17, 2018

Sydney, Oct 17: Australia is considering moving its embassy in Israel from Tel Aviv to Jerusalem, Prime Minister Scott Morrison announced on Tuesday, following the lead of US President Donald Trump.

Morrison called a press conference to say he was "open-minded" to proposals to formally recognise Jerusalem as the capital of Israel and move his nation's embassy to the holy city, a sharp break with the policy of successive Australian governments for decades.

"We're committed to a two-state solution, but frankly it hasn't been going that well, not a lot of progress has been made, and you don't keep doing the same thing and expect different results," Morrison said.

He described proposals to recognise Jerusalem and move Australia's embassy as "sensible" and "persuasive" and would be considered by the government.

Israeli Prime Minister Benjamin Netanyahu issued a statement saying he had discussed the possible embassy move with Morrison.

"He informed me that he is considering officially recognizing Jerusalem as the capital of Israel & moving the Australian embassy to Jerusalem. I'm very thankful to him for this," Netanyahu tweeted.

The surprise announcement came just days before a crucial parliamentary by-election in a Sydney district that has a significant Jewish electorate and where the candidate for Morrison's Liberal party, a former ambassador to Israel, is trailing in opinion polls.

A loss in the election would wipe out Morrison's one-seat majority in parliament.

"Scott Morrison is now so desperate to hang on to his job, he is prepared to say anything if he thinks it will win him a few more votes -- even at the cost of Australia's national interest," said the opposition Labour party foreign policy spokeswoman Penny Wong.

Morrison came to power in August after a revolt by hardline conservatives in the Liberal party ousted his more moderate predecessor, Malcolm Turnbull.

Turnbull's government had explicitly distanced itself from the decision by Trump to move the US embassy from Tel Aviv to Jerusalem as "unhelpful" to the peace process.

Morrison rejected suggestions that his decision to consider following Trump's lead was a result of US pressure or related to the by-election in Sydney's Wentworth district on Saturday.

"I have made this decision without any reference to the United States," he said. "It has not come up in any discussion that I have had with the president or officials."

Trump's move ruptured decades of international consensus that Jerusalem's status should be settled as part of a two-state peace deal between Israel and the Palestinians.

Comments

abdullah
 - 
Thursday, 18 Oct 2018

May be this is end of their country.

 

May Allah will destroy them Insha Allah.

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News Network
January 6,2020

Aboard Air Force One, Jan 6: US President Donald Trump threatened sanctions against Baghdad on Sunday after Iraq's parliament called on US troops to leave the country, and the president said if troops did leave, Baghdad would have to pay Washington for the cost of the air base there.

"We have a very extraordinarily expensive air base that's there. It cost billions of dollars to build, long before my time. We're not leaving unless they pay us back for it," Trump told reporters on Air Force One.

Trump said that if Iraq asked US forces to leave and it was not done on a friendly basis, "we will charge them sanctions like they've never seen before ever. It'll make Iranian sanctions look somewhat tame."

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News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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News Network
June 25,2020

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

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