Latest news with #TelAvivStockExchange
IOL News
6 days ago
- Business
- IOL News
UN report highlights the economic impact of the occupation of Palestine
The findings, presented by Francesca Albanese - the United Nations (UN) Special Rapporteur on human rights in the occupied Palestinian - during a media briefing in Geneva on Thursday, accuse these corporations of failing to uphold their legal responsibilities, thereby facilitating a system of exploitative occupation. The Tel Aviv Stock Exchange has seen a staggering increase of over 200% since the onset of the occupation of Palestine nearly two years ago, according to a damning new report from Francesca Albanese, the United Nations' Special Rapporteur on the situation of human rights in the Palestinian territories. Published on Thursday and aptly titled 'From economy of occupation to economy of genocide,' Albanese's report highlights how the very fabric of the global economy has intertwined with the devastation faced by Palestinians, particularly in the face of the ongoing conflict. 'In the past 21 months, while Israel's genocide has devastated Palestinian lives and landscapes, the Tel Aviv stock exchange soared by 213%, amassing $225.7 billion in market gains—including $67.8bn in the past month alone. For some, genocide is profitable,' Albanese said. 'In many respects, I could have written this report two years ago, and it would have been a fair exposure of the economy of the occupation made of two pillars; a pillar of displacement, a pillar of replacement, held together by an ecosystem of enablers, from financial actors to institutional knowledge production actors, like universities, and even charities.' Albanese named defense giants Lockheed Martin, RTX Corporation, General Dynamics, BAE Systems and Boeing for their sale of weapons to Israel. She singled out Caterpillar, Hyundai and Volvo for selling engineering equipment used to demolish Palestinian homes and the construction of illegal colonies for at least 10 years. Also mentioned is German Heidelberg Materials AG through its subsidiary Hanson Israel for allegedly contributing to the pillage of millions of tons of dolomite rock from the Nahal Raba quarry on land seized from Palestinian villages in the West Bank. The report said the Spanish/Basque Construcciones Auxiliar de Ferrocarriles joined a consortium to maintain and expand the Jerusalem Light Rail Red Line and build the new Green Line, at a time when other companies had withdrawn owing to international pressure. The global real estate group, Keller Williams Realty LLC, through its Israeli franchisee KW Israel, was named among real estate companies that sell properties in colonies to Israeli and international buyers. Global tech giants Alphabet, Amazon, Microsoft, IBM and Palantir were also named for supplying AI platforms, analytics and cloud infrastructure that aid Israeli intelligence gathering. The report pointed at major banks — Bank of America, BlackRock, Citigroup, Wells Fargo, Goldman Sachs, BNP Paribas, Deutsche Bank, JPMorgan Chase and Barclays — for investing in Israeli bonds, allowing Israel to wage war. It said the US-based Chevron Corporation, in consortium with Israeli NewMed Energy, extracts natural gas from the Leviathan and Tamar fields. The report said Chevron's consortium supplies more than 70% of Israeli energy consumption and also profits from its part-ownership of the East Mediterranean Gas pipeline, which passes through Palestinian maritime territory, and from gas export sales to Egypt and Jordan. The report also said Netafim, a global leader in drip irrigation technology, now 80% owned by the Mexican company Orbia Advance Corporation, has designed its agritech in concert with the expansion imperatives of Israel. It said global logistics giants like A.P. Moller – Maersk A/S were integral to this ecosystem; for years they have shipped goods from the colonies and OHCHR database-listed companies straight to the US and other markets. The report said major online travel platforms, used by millions to reserve accommodation, profit from the occupation by selling tourism that sustains the colonies, excludes Palestinians, promotes settler narratives and legitimizes annexation. It said Booking Holdings Inc. and Airbnb, Inc. list properties and hotel rooms in Israeli colonies. has more than doubled its listings in the West Bank – from 26 in 2018 to 70 by May 2023 – and tripled its East Jerusalem listings to 39 in the year post October 2023. Airbnb has also amplified its colonial profiteering, growing from 139 listings in 2016 to 350 in 2025, collecting up to 23% commission. It said these listings were linked with restricting Palestinian access to land and endangering nearby villages. 'My report exposes a system, something that is so structural and so widespread and so systemic that there is no possibility to fix it and redress it. It needs to be dismantled,' Albanese said. 'When sanctions were imposed on apartheid South Africa, was it because of the crimes and the violence and the racism and the discrimination and the apartheid that South Africa was imposing on its non-white population or for just what South Africa was doing in the Bantustans?' In a sharp rebuttal, Maram Stern, executive vice president of the World Jewish Congress, denounced Albanese's report as biased and politicised, claiming it undermined Israel's legitimacy and distorted the realities on the ground. 'Ms. Albanese's report is yet another example of her repeated misuse of her mandate to advance a political agenda rather than to uphold the universal principles of human rights,' Stern said in a statement. 'Particularly outrageous is the targeting of companies operating within Israel's internationally recognized borders, which is a clear attempt to delegitimize the very existence of the Jewish state under the guise of human rights.' BUSINESS REPORT
Roya News
03-07-2025
- Business
- Roya News
UN expert: What's happening in Gaza is not war, it's genocide
UN Special Rapporteur on the situation of human rights in the Palestinian territories, Francesca Albanese, said the 'Israeli' military campaign in Gaza goes beyond the definition of war, describing it instead as a 'campaign of genocide.' She accused institutions and corporations of profiting from the destruction and targeting of civilians in Gaza, and called for urgent international action to halt support for what she described as an "economy of annihilation." 'Over the past 20 months, the Israeli army and settlers have destroyed vast areas of Palestinian land, while the Tel Aviv Stock Exchange continued to post profits,' Albanese said. She added that genocide is being committed 'under the pretext of distributing humanitarian aid in Gaza,' and reiterated her calls for a global arms embargo on 'Israel' and the suspension of all trade agreements with it. Albanese urged over 1,000 companies to cut ties with 'Israel' or face accountability, stating that 'the time has come for corporations involved in the economy of genocide to stop profiting at the expense of human rights.' The UN official stressed that the only path forward is for states to abide by the standards set by the International Court of Justice (ICJ). She said entities participating in the economic support of the 'Israeli' campaign should have boycotted 'Israel' instead of continuing commercial relations.
News18
23-06-2025
- Business
- News18
Tel Aviv Stock Exchange Shares Drop 5% After Record-Breaking Rally
Last Updated: The Tel Aviv Stock Exchange (TASE) has shown remarkable resilience amid the escalating Israel-Iran conflict, particularly following U.S. involvement in June 2025. Tel Aviv Share Price: Tel Aviv Stock Exchange (TASE) shares snapped the winning streak on Monday to drop over 5 per cent in the opening session. The shares fell to ILA 6,239 with a fall of 5.47 per cent, against the previous day's close at ILA 6,600. The Tel Aviv Stock Exchange (TASE) has shown remarkable resilience amid the escalating Israel-Iran conflict, particularly following U.S. involvement in June 2025. Despite Iran's retaliatory missile strikes, including an attack that damaged the TASE headquarters, the TASE surged to record highs. On June 22, 2025, the TASE rallied over 5%, reaching an all-time peak of ILA 6,490 before stabilizing around ILA 6,450, driven by investor optimism that U.S. strikes on Iranian nuclear facilities could limit Tehran's nuclear ambitions and contain the conflict. Over the past five sessions, investors have been bullish on shares of Tel Aviv Stock Exchange. Stocks are up 9.32 per cent since June 16. The TA-125 Index, tracking the 125 largest companies on the TASE, has gained about 9% in last one month, building on a 6.55% rise in May and 4.53% in April, totaling a year-to-date increase of 16%. Since the conflict's onset, the TA-125 has climbed nearly 14%, or roughly 800 points, reaching a record high of 2,850.08 on June 19. The TA-35 Index, comprising the 35 largest firms, has also performed robustly, gaining 17% year-to-date and hitting a 52-week high of 2,851.38 on June 19. Since June 13, it has risen about 5%. In retaliation, Iran has launched its first salvo of ballistic missiles at Israel after the US military conducted airstrikes at three key Iranian nuclear facilities in the early hours of Sunday, marking a dramatic escalation in the West Asian conflict. Iran's state media said more than 30 ballistic missiles had been fired as sirens rang across parts of Israel, while explosions were heard in Jerusalem. The Israeli Army said it was working to intercept missiles from Iran. Israel had closed its airspace after the US strikes on Iran. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Mint
23-06-2025
- Business
- Mint
Israel-Iran war: Tel Aviv shares snaps five-days gaining streak amid Middle East tensions, falls less than 1%
Israel stock exchange: Amid rising tensions between Israel and Iran, the Tel Aviv Stock Exchange snapped five-days gaining streak to fall less than a 1 per cent on Monday. The broad Tel Aviv 125 index opened 0.70 per cent down at 2,853.07 on June 23. On Sunday, Israeli stocks surged to all-time highs following U.S. airstrikes on Iran's nuclear facilities, which investors believe will delay Tehran's ability to develop nuclear weapons in the near future. The broad Tel Aviv 125 index closed up by 1.8 per cent, pushing its weekly gains to nearly 8 per cent, while the benchmark TA-35 (.TA35) rose by 1.5 per cent. Following Israeli strikes on Iran, stocks climbed throughout all five sessions last week, rising about 6 per cent, as Israel targeted Iranian nuclear and military sites ahead of the unexpected U.S. attacks on Saturday. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
CNN
22-06-2025
- Business
- CNN
Oil futures surge following US strikes in Iran
Oil prices surged in late Sunday trading after the United States launched strikes on three Iranian nuclear Saturday evening in a major escalation of the Iran-Israel conflict. US oil futures jumped 3.6% to about $76.47 per barrel. Brent futures increased 3.2%, settling at $74.59 per barrel. US stock futures fell in response to the attacks. Dow futures dropped 0.6%. S&P 500 futures fell 0.6%, while Nasdaq futures tumbled 0.7%. The US dollar rose 0.3%. Israeli stocks were bolstered Sunday by the news and surged to record highs. The Tel Aviv 125 climbed 1.8% to close at 2,919.62. The TA-35 gained 1.5% to close at 2,877.78, an all-time high. The United States produces an average of roughly 13.4 million barrels a day. Crude oil stockpiles have increased more than 200 million barrels since early January and OPEC+ recently announced plans to increase production, but there are growing concerns that Iran may close the Strait of Hormuz or pressure the flow of oil and trade in the area. Economists are especially concerned about retaliations that could disrupt the flow of oil, which is heavily dependent on the strait. Any sharp jump in oil prices could potentially trigger higher inflation for the US economy. During 2024 and the first quarter of 2025, more than 25% of seaborne oil trade flowed through the strait, according to the US Energy Information Administration. The US imported about 500,000 barrels per day through the strait, accounting for 7% of total US crude oil and condensate imports.
