INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Israel deducts Palestinian tax money over militant support

The mother of Osama Sobh, a Palestinian man killed by Israeli soldiers during clashes near Jenin, mourns during her son's funeral. (AFP file)
  • Israel collects around $190m a month in customs duties levied on goods destined for Palestinian markets that transit through Israeli ports. It transfers the funds to the PA.
  • When Israel began implementing the law in 2019, the Palestinians in protest refused to receive all funds for eight months.

Israeli ministers on Sunday kept in place a partial freeze on tax revenues it collects on behalf of the Palestinian Authority over its financial support for militants, an official said.

The sum withheld, around 600 million shekels ($176 million), would balance the amount the PA paid to assailants’ families last year, under legislation dating back to 2018.

Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through Israeli ports, and it transfers the funds to the PA.

When Israel began implementing the law in 2019, the Palestinians in protest refused to receive all funds for eight months.

Israel alleges the payments to families of those who carried out attacks encourage further violence.

The PA, for its part, says the payments are a form of welfare to families who lost their main breadwinner.

An Israeli official told AFP the ministers in Israel’s so-called “security cabinet” approved keeping the freeze in place.

The move prompted senior PA official Hussein Al Sheikh to accuse Israel of “money piracy”.

Israel’s “policy of financial blockade and steal(-ing) our money” would add “to the daily escalation in our cities, villages and camps”, he tweeted.