Israel is Officially an energy power
The amount of gas in the Leviathan reservoir off the coast of Haifa is as large as originally estimated. The Leviathan exploration prospect, which is located northwest of the coast of Haifa, contains 80% more natural gas than the Tamar reservoir, which was previously considered Israel's largest drilling site, a report released Wednesday by Delek Energy revealed. "Today we received the most important piece of Energy news since the foundation of the State," National Infrastructure Minister Uzi Landau said. "Israel can enjoy not only the use of the gas, but can actually also turn into a gas supplier in the Middle East."
COMMENT: And after all that, Israel now is one of the infrastructure leaders for electric cars. Not complaining...just happy we didn't land up in Ghana! There were, however, historic complaints that Moses had lost his way. Now they will be saying that he invented the GPS!
ChemChina Purchases Makhteshim Agan
The deal is done. The sale of agrochemicals company Makhteshim Agan Industries Ltd. (TASE: MAIN) to China National Chemical Corporation (ChemChina) at NIS 20 per share, reflecting a company value of $2.4 billion was signed and sealed today after 3 months of negotiation.
COMMENT: I wonder how the Iranians would feel today about targeting Chinese assets in Israel with their missiles? Somehow I think they might be too busy trying to hold their collapsing economy together.
Income from tourism reaches record $4.4b in 2010
The Israel Hotels Association also reported a record 3.4 million tourists visited Israel this year. This is about 2.2% (two point two) of GDP. This gives some perspective of how strong the rest of the economy is this year.
COMMENT: And all of this in spite of not apologising to Turkey.
Israel and Cyprus sign offshore oil and gas exploration agreement
Friday's agreement enables Israel and Cyprus to pursue development of their energy sources in the deepwater East Mediterranean Basin. Turkey's Foreign Ministry summoned Ambassador Gaby Levy for a sharp rebuke. Turkey does not recognize the Cypriot government, and is the only country to recognize the self-declared Turkish Republic of Northern Cyprus.
COMMENT: Goodness, the Turks are mad! Maybe we should apologise to them.
Israel and Philippines sign 'landmark' mutual assistance agreement
Israel and the Philippines on Tuesday signed an agreement on customs and mutual assistance and cooperation, the first of its kind between the two states. "This agreement constitutes an important landmark in Israel's relations with the Philippines, especially in light of the recent sharp rise in the scope of trade between the two countries," said Deputy Foreign Minister Danny Ayalon, at the signing of the agreement in the Philippine Embassy in Tel Aviv.
People who think of retreating before a battle is fought ought to have stayed home - Michel Ney
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