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‘Future of Israel’s Economy Depends on Clear Victory Over Hamas,’ Israeli Defense Chief Tells Central Bank Head

Israeli Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant during a press conference in the Kirya military base in Tel Aviv , Israel, Oct. 28, 2023. Photo: ABIR SULTAN POOL/Pool via REUTERS

Israeli Defense Minister Yoav Gallant on Friday said that while Israel’s economy has taken a hit in the short run amid the ongoing war with Hamas, the economic outlook will be bright as long as the Jewish state defeats the Palestinian terror group.

“The future of Israel’s economy depends on a clear victory over Hamas,” Gallant told Bank of Israel Governor Amir Yaron in a meeting with the country’s central bank chief in the Kirya military base in Tel Aviv.

At their meeting, the two officials discussed the macroeconomic impact of the war, as well as steps Israel’s central bank has taken to ensure the stability of the economy, according to Hebrew media reports.

Such acts have included lowering interest rates and, just days after the war started, selling approximately $30 billion in foreign exchanges to assist the fast-falling shekel, Israel’s currency.

The value of the shekel fell to about 4 per US dollar in the wake of Hamas’ Oct. 7 massacre of over 1,200 people, mostly civilians, across southern Israel. The slaughter launched the current war in Gaza, which is ruled by the terror group and where the roughly 240 hostages seized by Hamas last month are being held. More recently, the shekel’s value has risen and is trading at about 3.7 shekels to one US dollar.

Historically, Israel’s economy has proven to be resilient in the face of global economic downturns. Top economists have attributed this to the fact that Israel’s economy is heavily reliant on the tech sector — tech has accounted for 14 percent of jobs in Israel, about a fifth of economic output, and roughly half of Israeli exports. In general, tech has been able to endure global crises and even seen positive impacts.

Additionally, Israel has a strong tourism sector that draws in millions of Jews, Christians, and Muslims eager to see their religions’ holy sites — many of them located in Jerusalem. During a time of war, tourism typically declines significantly but returns after a cessation of hostilities.

The post ‘Future of Israel’s Economy Depends on Clear Victory Over Hamas,’ Israeli Defense Chief Tells Central Bank Head first appeared on Algemeiner.com.

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Israel on High Alert Ahead of Next Hostage Release as Hamas Fails to Deliver List of Names on Time

Families and supporters of Israeli hostages kidnapped during the deadly Oct. 7, 2023 attack by Hamas gather to demand a deal that will bring back all the hostages held in Gaza, outside a meeting between hostage representatives and Israeli Prime Minister Benjamin Netanyahu, in Jerusalem, Jan. 14, 2025. Photo: REUTERS/Ammar Awad

As Israel prepares for the fifth wave of hostages to be released under the recently brokered ceasefire with Hamas on Saturday, the nation remains vigilant against potential violations by the Palestinian terrorist group.

A significant aspect of the ceasefire agreement involves the IDF’s planned withdrawal from the Netzarim corridor, a strategic area that bisects the Gaza Strip. If the process proceeds without incident, the military intends to complete this withdrawal by Sunday, signaling a step toward de-escalation.

However, the Israeli military on Friday said that it had bolstered its presence at key points within the Gaza Strip. The Southern Command’s leadership has conducted multiple field assessments alongside frontline soldiers to ensure readiness for any unforeseen developments during the hostage transfer process.

Israel’s defense ministry said that any violation of the agreement will be dealt with severely.

Hamas claimed that Israel had not fulfilled its side of the deal in transferring humanitarian aid, but Israel denied the claim, saying that 12,600 trucks of aid had arrived in Gaza since the beginning of the deal’s implementation on Jan. 19.

Israel was slated to receive the list of hostages scheduled for release in the fifth wave on Friday, but Hamas delayed announcing the names of the three Israelis due to be exchanged for Palestinian prisoners, who were largely detained for terrorist activity.

Unlike previous exchanges, Hamas has not committed to a specific category of hostages for this round, adding a layer of uncertainty and tension for the families awaiting news.

Israel is exerting diplomatic pressure on mediators to prioritize the release of Shiri Bibas and her young children, Kfir and Ariel.

The forthcoming hostage releases over the next month under phase one of the ceasefire deal are expected to include 20 individuals: seven adults over the age of 50, ten identified as sick or wounded, and three members of the Bibas family.

The list of sick or wounded individuals includes American-Israeli Sagi Dekel-Chen.

Hamas-led Palestinian terrorists started the war in Gaza when they murdered 1,200 people and kidnapped 251 hostages during their invasion of southern Israel on Oct. 7, 2023. Israel responded with a military campaign aimed at freeing the hostages and dismantling Hamas’s military and governing capabilities in the neighboring enclave. The conflict raged for nearly 16 months until both sides agreed to last month’s ceasefire and hostage-release deal, the first phase of which is set to last six weeks.

During phase one, Hamas is supposed to inform Israel of the next hostages to be freed 24 hours before their release.

US President Donald Trump’s new proposal to “take over” Gaza has introduced a contentious element into the fragile ceasefire agreement.

Critics argue that the plan could undermine the negotiations between Israel and Hamas, but others say it will only strengthen Israel’s position. An unnamed Hamas official cited by Israel’s Channel 12 said that the terrorist group would see how the plan develops before deciding to change the terms of the deal. Nonetheless, the official said that the “takeover” proposal would not thwart the first phase of the plan.

Seventy-nine hostages remain in Hamas captivity. Upon the conclusion of the initial phase of the agreement, 59 hostages will still be held in Gaza, with 35 already declared deceased.

The post Israel on High Alert Ahead of Next Hostage Release as Hamas Fails to Deliver List of Names on Time first appeared on Algemeiner.com.

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US Supreme Court to Weigh Landmark Terrorism Case Targeting Palestinian Authority’s ‘Pay-for-Slay’ Program

PA President Mahmoud Abbas at the UN General Assembly in New York. Photo: Reuters/Caitlin Ochs

In a case that could redefine the legal landscape for victims of terrorism seeking justice, the US Supreme Court is set to hear arguments against the Palestinian Authority and the Palestine Liberation Organization (PLO) over their role in incentivizing violence against Americans abroad.

The high-profile brief — filed this week by a legal coalition and more than a dozen organizations in response to the 2018 murder of Israeli-American Ari Fuld by a Palestinian terrorist — calls on justices to hold Palestinian leadership accountable for its controversial “pay-for-slay” program.

The amicus brief, submitted on Tuesday by the International Legal Forum (ILF) and 16 other Jewish and pro-Israel organizations, argues that the PA and PLO have long been complicit in orchestrating and financially rewarding acts of terror.

“Since their founding, the PLO and the Palestinian Authority have been an instrumental element in inciting, funding, and rewarding terrorism, especially through the pay-for-slay program,” ILF CEO Arsen Ostrovsky told The Algemeiner. “They are not a powerless bystander but a leading driver of modern-day terrorism. Enough is enough.”

The so-called “pay-for-slay” scheme has been widely condemned by US lawmakers, with reports estimating that approximately 8 percent of the PA’s budget is allocated to paying stipends to convicted terrorists and their families. As outlined in the ILF’s legal filing, “the more deadly the attack and the longer the terrorist spends in prison, the greater the stipends they receive.”

The legal brief contends that the US Congress has clear constitutional authority to permit American victims of Palestinian terrorism to sue the PA and PLO in US courts, since these entities have maintained a presence on American soil and were previously warned that their activities could expose them to legal action. Palestinian leaders “had been on notice that their activities would subject them to jurisdiction, yet have continued to reward and sponsor terrorism regardless,” Ostrovsky said.

The lawsuit was initially filed under the US Anti-Terrorism Act by Fuld’s widow and other American victims of Palestinian terror, seeking damages from the PA and PLO. However, the case faced a major setback in 2023 when the Second Circuit Court of Appeals ruled that US federal courts lack jurisdiction over the Palestinian entities, citing concerns over the due process rights of foreign organizations.

Congress attempted to address this legal gap in 2019 with the passage of the Promoting Security and Justice for Victims of Terrorism Act (PSJVTA), which sought to ensure that the PA and PLO could be held accountable in American courts if they funded attacks against US citizens or conducted activities within the United States. The brief argues that the PA and PLO have done both, and therefore must face legal consequences.

“It is imperative to hold not only Hamas accountable, but the Palestinian leadership as well,” Ostrovsky said. “Acts of terror, such as the one that claimed the life of Ari Fuld, do not occur in a vacuum. They are the direct result of a pervasive Palestinian infrastructure that indoctrinates hate and incentivizes violence.”

The development coincides with an ongoing ceasefire and hostage release deal between Israel and Hamas, which included the release last month of Ari Fuld’s killer, Khalil Jabarin. Ari Fuld’s brother, Hillel Fuld, said the family’s “personal grievance and loss was currently amplified” by Jabarin’s release from prison.

Reflecting on the hostage deal that saw Jabarin walk free — financially secure by Palestinian standards due to the pay-for-slay stipends he received while in prison — Fuld acknowledged that the situation was “not black and white.”

“On the one hand this is a terrible, terrible deal from a strategic perspective, and there’s no sugarcoating the fact that letting go of thousands of monsters is just horrible,” he told The Algemeiner. “The flip side is that it’s the most beautiful thing there is to see those families reunited, and it’s a fundamental pillar of Judaism to free our prisoners, our people, and our soldiers need to know that we will do whatever it takes to bring them back if such a thing happens to them.”

Ostrovsky expressed his hope that the Supreme Court would hold Palestinian leaders accountable and prevent them from “rewarding and underwriting murderers of American nationals abroad, like Ari Fuld.”

The court’s decision to take up the case marks a pivotal moment in US counterterrorism law. If the justices rule in favor of the plaintiffs, it could set a precedent allowing American victims of international terrorism to pursue legal claims against foreign entities that support or enable such attacks. The brief was filed on behalf of ILF by the Holtzman Vogel law firm as well as the National Jewish Advocacy Center, with oral arguments expected later in the year.

The post US Supreme Court to Weigh Landmark Terrorism Case Targeting Palestinian Authority’s ‘Pay-for-Slay’ Program first appeared on Algemeiner.com.

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US Lawmakers Reintroduce Antisemitism Awareness Act

US Rep. Josh Gottheimer (D-NJ) at a press conference in Bergenfield, New Jersey, US on June 5, 2023. Photo: Kyle Mazza/NurPhoto via Reuters Connect

A bipartisan group of US lawmakers on Wednesday reintroduced the Antisemitism Awareness Act, which would mandate the Department of Education to apply the International Holocaust Remembrance Alliance (IHRA) working definition of antisemitism when enforcing federal anti-discrimination laws.

The lawmakers — Reps. Josh Gottheimer (D-NJ), Mike Lawler (R-NY), Max Miller (R-OH), and Jared Moskowitz (D-FL) — reintroduced the legislation after it passed the US House during the last Congress by a vote of 320-91. However, the Senate ultimately opted not to consider the bill in December.

Observers speculated that Sen. Chuck Schumer (D-NY), the Senate leader, feared exposing potential fractures within the Democratic coalition regarding antisemitism and Israel. Following the onset of the Gaza war between Israel and Hamas in October 2023, Democrats have shown inconsistent support for the Jewish state, with some high-profile liberal lawmakers suggesting that Israel’s war against Hamas could be considered a “genocide.” Last November, 17 Democrats voted to implement a partial arms embargo against Israel.

IHRA — an intergovernmental organization comprising dozens of countries including the US — adopted the definition of antisemitism in 2016. Since then, the definition has been widely accepted by Jewish groups and lawmakers across the political spectrum, and it is now used by hundreds of governing institutions, including the US State Department, European Union, and United Nations. Dozens of US states have also formally adopted it through law or executive action.

According to the definition, antisemitism “is a certain perception of Jews, which may be expressed as hatred toward Jews. Rhetorical and physical manifestations of antisemitism are directed toward Jewish or non-Jewish individuals and/or their property, toward Jewish community institutions and religious facilities.” It provides 11 specific, contemporary examples of antisemitism in public life, the media, schools, the workplace, and in the religious sphere. Beyond classic antisemitic behavior associated with the likes of the medieval period and Nazi Germany, the examples include denial of the Holocaust and newer forms of antisemitism targeting Israel such as demonizing the Jewish state, denying its right to exist, and holding it to standards not expected of any other democratic state.

In a statement, Gottenheimer said on Thursday that the “explosion of antisemitic violence” after the Hamas-led Oct. 7, 2023 massacre of 1,200 people in southern Israel inspired him to reintroduce the Antisemitism Awareness Act. He added that the legislation would provide state officials and law enforcement a “clear framework” on how to properly address antisemitic violence. 

“Since the heinous Oct. 7 attacks on Israel, we have seen an explosion of antisemitic violence and intimidation on college campuses and in communities across New Jersey and the nation. Far too many in our community no longer feel safe in their own homes or classrooms,” Gottheimer said. 

Lawler, a Jewish lawmaker and one of the most strident supporters of Israel in Congress, explained his decision to reintroduce the legislation, writing that “no person should feel unsafe, targeted, or ostracized because of their faith — and the Antisemitism Awareness Act will stop it from happening.”

The post US Lawmakers Reintroduce Antisemitism Awareness Act first appeared on Algemeiner.com.

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