Following a possible 10-day freeze on revenue collected on Palestinian goods that pass through Israel’s ports and airports, a Palestinian investment firm has issued the territory’s first-ever corporate bonds, which Palestinian leaders and businesses hope will strengthen the local economy.

Israel imposed the freeze after Fatah, Palestine’s ruling party, made peace last week with its political rival Hamas, which refuses to recognize Israeli statehood. –ARK


PADICO, a publicly traded company that focuses on investment in the Palestinian economy, announced on Tuesday that it is issuing 7,000 five-year bonds which are worth $70m.

… Issuing of the corporate bonds comes amid growing financial hardships for Palestinians, who have been subjected to an Israeli freeze on monthly transfer of funds.

… “The delay in transferring funds is a yellow card for the PA after the signing of the agreement with Hamas,” Yuval Steinitz [Israel’s finance minister] said on public radio on Wednesday.

Read more

Wait, before you go…

If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface.  We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.

Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.

Support Truthdig