Economy

Under the patronage and in the presence of Palestinian Authority Prime Minister Mohammed Shtayyeh, the Ministry of Local Government signed today four agreements with the Islamic Development Bank at a value of about 33 million US dollars.

Finland is making a contribution of €2 million to the Palestinian Authority to support the payment of medical referrals to East Al-Quds' Hospitals.

Gross Domestic Product (GDP) at constant prices increased by 7% in Palestine during the 3rd quarter 2021 compared to the parallel quarter 2020, said a report by Palestinian Central Bureau of Statistics (PCBS).

Qatar, the Palestinian Authority (PA) and Gaza's electrical company agreed on Sunday to advance a long-term project to supply Gaza's power plant with Israeli gas, a statement said.

Over 27% of Israelis live in poverty and 774,000 children, nearly a third (31%) of all children in Israel, live with food insecurity.

Some 2.54 million people in occupied territories, including 1.118 million Israeli children, live in poverty, according to a report released yesterday by the Latet non-profit aid organisation.

Operating the three wastewater treatment plants located in the east of the Refugee camp of Al Burij, middle of the Gaza Strip, is part of a project aimed to solve the issue of critical water situation in the besieged enclave.

Algeria's President Abdelmadjid Tebboune pledged $100 million in aid to the Palestinians, as Palestinian Authority Chief Mahmoud Abbas visited Algiers on Monday.

A Kuwaiti decree banned the entry of vessels carrying goods to or from Israel into Kuwait territorial waters.

Tel Aviv has been ranked as the most expensive city in the world to live in due to the rapid rise in inflation that has increased the prices of a whole range of goods and services following the coronavirus pandemic.

The salaries of civil servants in the Gaza Strip will be paid this month, as Egypt and Qatar agreed on a mechanism for the payment, Haaretz reports.

For the first time, businesswoman Sabrina supports the Palestinian women through a joint agreement between Cinta Gaza Malaysia and MAMASAB Foundation to fund several projects of the Ministry of Women's Affairs in Gaza to empower them.

A Hamas official said that Qatar will start sending Gaza up to $10 million worth of Egyptian fuel a month under a plan to fund civil service pay in the impoverished Palestinian enclave ruled by the Islamist group, Reuters reports.

The Palestinian Authority (PA) denied Zionist regime’s claims that it would cut the salaries of the families of Palestinians killed by Zionist regime and those detained in Zionist regime’s jails, Quds Press reported.

Israeli Minister of Energy, Karen Al-Harrar, has called for cancelling a deal with the United Arab Emirates (UAE) to transport Emirati crude oil via Israel to Europe, citing environmental risks, according to local media on Tuesday.

Palestinian Ambassador Ahmed Rabei on Sunday expressed his country’s resolve to enhance existing bilateral ties with Pakistan in multi-sectors and take them to the optimum level for the benefit of the people of both countries.

The economic and fiscal situation in the occupied Palestinian territories remains “dire,” said a report by the Office of the United Nations Special Coordinator for the Middle East Peace Process (UNSCO) Tor Wennesland.

Gaza is still suffering "from a particularly difficult economic situation with very high unemployment and deteriorating social conditions", the World Bank warned in a report this week.

Cuts to the UN Relief and Works Agency for Palestine Refugees (UNRWA) budget, including halving the UK's annual grant, has left the agency close to collapse, the Commissioner-General Philippe Lazzarini .

Rights activists say PayPal is discriminating against Palestinians in the West Bank and Gaza Strip by blocking them from using the digital payment platform.

The World Bank’s Board has recommended the allocation of $80 million to support the economic welfare and durable opportunities for the Palestinian people.

The Palestinian Authority is suffering from a financial crisis which is close to a "breaking point", the UN Special Coordinator for the Middle East Peace Process has warned.

The European Union has disbursed €92 million ($33.47 million) to the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), following a delay of donations since the start of the year.

Egypt will reportedly allow increased trade and travel through the Rafah crossing with Gaza starting on Sunday.

The overall Industrial Production Index (IPI) in Palestine increased in August by 14.47% compared to July, today said the Palestinian Central Bureau of Statistics (PCBS).

The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) announced it will be seeking $800 million to maintain services to the Palestinian refugees at a donor conference scheduled for November in Brussels.

Palestine and Denmark signed a $72 million grant agreement over the next five years, which PA Prime Minister Mohammad Shtayyeh described as part of the process to reach independence.

Nearly 25 per cent of Israeli families with children are experiencing food insecurity, new data from Israel's largest anti-poverty NGO shows.

The head of the Popular International Committee to Support Palestine has said that lifting the siege on Gaza, reconstruction across the coastal territory and improving the living conditions of its residents are non-negotiable human rights.

The Ministry of Public Works and Housing in the besieged Gaza Strip announced that reconstruction of the enclave is set to begin soon but there are fears that donor countries will not fulfil their pledges.

Fifteen years ago, the Israeli authorities imposed a severe blockade on the Gaza Strip's population of more than 2, 200,000 people in a geographical area of just 360 km.

Qatar's envoy to Gaza said on Monday that aid from his country will be distributed soon in Gaza, including to employees of the Hamas government, AFP reports.

Israeli airlines are facing new waves of mass layoffs and potential collapse as the global aviation market continues to be pummeled by the COVID-19 pandemic.

The grant is provided by Germany, in partnership with Ireland, Finland, and Norway, to support the education sector.

The background is the intention of Israel's airlines to shed more workers. Disruptions to flights could start within two weeks.

A senior official from the Palestinian Islamic Resistance Movement, Hamas, says the Palestinian nation and resistance groups will not remain silent in the face of the deteriorating economic situation in the Gaza Strip caused by the tight Israeli blockade, and will take proper measures to assuage the sufferings of the local people.