Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Israel Bill to limit PM’s term passes first reading

The Bill was passed by 66 deputies in the 120-member Knesset, Israel's Parliament. AFP
  • "Continuous power in the hands of a single person is bad for democracy," Justice Minister Gideon Saar said
  • The vote on the Bill which was passed by 66 deputies in the 120-member Knesset would need three readings to become law

Israeli deputies Monday approved a Bill to limit a prime minister’s term in office to eight consecutive years, in the first reading of proposed legislation criticised as “personal”.

Opposition leader Benjamin Netanyahu served as premier for an Israeli record of 12 consecutive years before he was ousted in June by a multi-party coalition.

“Continuous power in the hands of a single person is bad for democracy,” Justice Minister Gideon Saar said before the vote on the Bill, which would need three readings to become law.

It was passed by 66 deputies in the 120-member Knesset, Israel’s Parliament.

But Ms Miri Regev, a member of the former premier’s right-wing Likud party, charged: “This law is a personal law aimed at preventing Netanyahu from returning to power.”

Netanyahu, who also served as premier between 1996 and 1999, has been charged with bribery, fraud and breach of trust, but he leads his rivals in opinion polls.