Subscribe to Print Edition | Sun., July 05, 2009 Tamuz 13, 5769 | | Israel Time: 00:21 (EST+7)
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The Belgian-French Dexia Bank announced it will no longer provide financing for Israeli settlements through Dexia Israel, because this contradicts its code of ethics. Sixty-one Belgian pro-Palestinian organizations, political parties, unions and other groups had demanded it end this lending. Dexia took over Otzar Hashilton Hamekomi bank when it was privatized in 2001. Until then the bank?s activities had focused on financing for municipalities and regional councils. In 2008 the Belgian government learned Dexia was involved in extending loans to settlements, after which the pressure ensued. ?(Ora Coren?) ?

The Histadrut labor federation yesterday declared an official work dispute at the Israel Electric Corporation, after Finance Ministry wages director Ilan Levin ordered the company to stop paying excessive wages and perks as of July 1. The Histadrut is demanding the IEC sign a new collective bargaining agreement with its workers? union that includes the benefits. IEC workers will be entitled to start work sanctions after a mandatory 14-day cooling-off period. A month ago Levin wrote a letter demanding the immediate halt of NIS 175 million in excess annual payments as well as the return of NIS 100 million in illegal excess wages at the government-owned firm. ?(Haim Bior and Avi Bar-Eli?)?
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The Israel Electric Corporation has asked the Communications Ministry for permission to conduct a large-scale test of household Internet and telephone services via its infrastructure. Cellular operator Partner will take part in the test, in a city to be decided. The services will include a 25-megabit Internet connection, though theoretically the electricity infrastructure could transmit up to 1 gigabit per second. The IEC will provide the infrastructure for connecting the consumers, and Partner will provide Internet and telephony connectivity. The IEC has thousands of kilometers of fiber optic cables, but for regulatory reasons has been prevented from offering communications services directly to consumers. ?(Amitai Ziv?)?

The Tax Authority has reached an agreement over on-line reporting of tax invoices. The treasury has been negotiating for weeks with representatives of the accounting profession, business and nonprofits as to how to fight what the treasury says is a battle against fictitious invoices used for evading taxes. The switch to computerized, on-line reporting will start in 2010 for large companies with annual revenues of over NIS 4 million. In 2011 the requirement will expand to all firms with over NIS 1 million in revenues and in 2012 it will apply to all businesses. Small businesses, with revenues of under NIS 100,000 a year, will be exempt from reporting to VAT authorities. The current limit is NIS 67,000. Finally, the Tax Authority agreed to ease in its enforcement of the new reporting system in its first years. ?(Meirav Arlosoroff?) ?

Haim Shani, chief executive and president of technology company Nice Systems, has been offered the job of director general at the Finance Ministry, succeeding Yarom Ariav in the post. Last week Ariav advised Finance Minister Yuval Steinitz that he?s moving on sooner rather than later. He recently asked that his resignation be brought forward to mid-September, to which Steinitz acquiesced. The minister then began looking for candidates in academia and the business sector. Shani is credited with rehabilitating Nice?s status, and share price, after the high-tech crash of 2002, and leading it into to pole position in its sphere of security systems. ?(Yael Pollak?)
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