Benjamin Netanyahu fails to form government, Israel faces fresh poll

Agencies
May 30, 2019

Jerusalem, May 30: Israeli lawmakers voted to dissolve parliament on Thursday, paving the way for a new election after veteran Prime Minister Benjamin Netanyahu failed to form a coalition government before a midnight deadline.

Netanyahu preferred a new ballot, set for September 17, to the alternative, under which Israeli President Reuven Rivlin could have asked another politician to try and form a ruling coalition.

The election, Israel’s second this year after an April 9 poll in which Netanyahu claimed victory, means unprecedented upheaval even for a country used to political infighting.

“We will win,” Netanyahu, head of the right-wing Likud party, vowed after parliament voted for a fresh election when the deadline expired for him to assemble his fifth government.

But the need for a rematch was a blow to a combative leader, who has ruled for the past decade but faces looming indictments in three corruption cases.

The turmoil arose - officially, at least - from a feud over military conscription between Netanyahu’s presumed allies: ex-defense minister Avigdor Lieberman, a far-right secularist, and ultra-Orthodox Jewish parties.

Those parties want young religious scholars exempted, en masse from mandatory national service. But Lieberman and many other Israelis say they should share the burden.

Faced with the prospect of having to step aside at the end of a 42-day period to put together a government, Netanyahu instead drummed up votes to dissolve the Knesset, accusing Lieberman of aiming to topple him. Lieberman denied the allegation.  

The new election, with coalition-building that could stretch into November, could further delay US efforts to press ahead with President Donald Trump’s forthcoming plan to resolve the Israeli-Palestinian conflict.

Even before it has been announced, Palestinians have spurned the plan described by Trump as “the deal of the century” as a blow to their statehood hopes.

“Now it is the deal of the next century,” Palestinian chief negotiator Saeb Erekat told Israel Radio after the new Israeli election was set.

The White House team behind the peace proposal, including Trump’s son-in-law Jared Kushner, is in the Middle East to drum up support for what he styles as an economic workshop in Bahrain next month to encourage investment in the occupied West Bank and Gaza.

The group planned to meet Netanyahu later on Thursday.

First elected in the late 1990s, Netanyahu will in July overtake Israel’s founding father, David Ben-Gurion, as Israel’s longest-serving premier.

But the failed coalition building of a 69-year-old leader, who just weeks ago was hailed by supporters as a political magician, may open rifts and stir up challenges within Likud.

The last election, in which Netanyahu showcased his warm relations with Trump and frequent contacts with Russian President Vladimir Putin, ended with him neck-and-neck with Benny Gantz, a politically untested ex-armed forces chief and head of the centrist Blue and White party.

But Netanyahu was given the nod to form a government after ultranationalist, right-wing and religious party leaders voiced their support.

Dubbed “crime minister” by his opponents, Netanyahu has denied any wrongdoing in the graft investigations he faces. In February, Israel’s attorney general said he intended to charge him with bribery and fraud. Netanyahu, who denies wrongdoing, faces a pre-trial hearing in October.

Until the coalition collapsed, public attention had been focused on moves by Netanyahu loyalists to grant the prime minister immunity from criminal prosecution and to pass a law ensuring such protection could not be withdrawn by the Supreme Court.

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News Network
January 3,2020

Hong Kong, Jan 3: Oil prices soared more than four per cent Friday following claims that the US had killed a top Iranian general, ratcheting up tensions between the foes and fuelling fears of a conflict in the crude-rich region.

The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.

Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84.

“Oil prices still have room for further upside as many analysts are still having to upgrade their demand forecasts to include a rather calm period on the trade front,” Moya said, referring to the warming trade relation between China and the United States.

“President Trump is likely to take a break on being ‘tariff man’ until we get beyond the presidential election in November.”

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News Network
May 31,2020

Dubai, May 31: As many as 84 beggars have been arrested in Dubai during the Eid Al Fitr holiday, the Dubai Police have said.

The arrests were carried out as part of their anti-begging campaign to prevent begging during the holy month of Ramadan.

Some illegal vendors, too, have been arrested in different areas of the emirate, the police added.

Colonel Ali Salem, Director of the Infiltrators Department at the Criminal Investigations Department of Dubai Police, said that the campaign aims to maintain the safety and security of the society, adding that the campaign was successful and helped reduce the number of beggars across the emirate.

He called on the public to report begging activities to the number 901 or the Dubai Police app.

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News Network
March 11,2020

Riyadh, Mar 11: Energy titan Saudi Aramco said Tuesday it will boost crude oil supplies to 12.3 million barrels per day in April, flooding markets as it escalates a price war with Russia.

Riyadh had already slashed its price for April delivery after Russia refused its proposal that producer alliance OPEC+ orchestrate a co-ordinated cut of 1.5 million barrels per day.

The production cut had been mooted to shore up global oil prices, which have gone into meltdown as the deadly new coronavirus casts a pall over the world economy, but now price cuts and rising output indicate an unravelling of OPEC+ co-operation.

"Saudi Aramco announces that it will provide its customers with 12.3 million barrels per day of crude oil in April," the company said in a statement to the Saudi stock exchange.

Saudi Arabia, the world's biggest crude exporter has been pumping some 9.8 million bpd so its announcement on Tuesday means it will be adding at least 2.5 million bpd from April.

"The Company has agreed with its customers to provide them with such volumes starting 1 April 2020. The Company expects that this will have a positive, long-term financial effect," the statement said.

Saudi Arabia says it has an output capacity of 12 million bpd but it is not known for how long it can sustain such levels.

The kingdom also has millions of barrels of crude stored in strategic reserves to be used when needed and is expected to use it to provide the extra supply to the global market.

"Production above 12 million bpd shows the Saudis have something to prove," director of Britain-based RS Energy Bill Farren-Price said.

"This is a grab for market share. The taps are open and the prices have been cut sharply," Farren-Price told AFP.

In a quick response, Russian Energy Minister Alexander Novak said Moscow could boost production in the short term "by 200,00-300,000 bpd, with a potential of 500,000 bpd in the near future".

But he stressed that Moscow was in favour of extending a December agreement that had seen OPEC and Russia agree to cut production by 500,000 barrels per day in 2020, lowering output from October 2018 levels by 1.7 million barrels per day.

The events of recent days have signalled a disintegration of collaboration between OPEC and Russia.

Russia is a non-OPEC member and the world's second-biggest oil producer, but Moscow and other non-members have in recent years co-operated with the oil cartel in an arrangement known as OPEC+.

The Saudi price cuts over the weekend, which were the first salvo in the price war, sent oil prices crashing -- registering the single biggest one-day loss in three decades on Monday.

Saudi Arabia draws around 70 per cent of its revenues from oil, and the revenues are key to ambitious reform programmes launched by Crown Prince Mohammed bin Salman.

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