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مقطع من تحقيق مترجم حول اثار حرب غزة اقتصاديا
21 أكتوبر 2010, hasnaapress @ 10:28 ص

   The Scene of Blood in Gaza

Resonant Global affects

Oil, Tourism, Trade, and Gold are with Gaza

by: Hasnaa Rantisy

Hiba A-Asabeh

Peter Chonka

 Gaza raises oil prices

“The War on Gaza freezes the construction of new centers in the Amman Stock Exchange”

The crisis of the U.S. Economy is exacerbated as a result of the aggression on Gaza”

Sweden, Denmark, Norway, and Jordan decide to cancel their purchase of fruit produced by Israeli farmers 

“The consumer confidence shrinks shopping in the Arab World” 

In Israel:” The level of the budget deficit has risen, the purchasing power of the NIS has weakened, and there have been heavy losses in factories and projects in areas affected by the attack on Gaza Strip” 

“Much of the aid has not reached the people who deserve it most”  

“The Jerusalem Post: other impacts of the military operations are long- term and may include weakening the purchase power of the NIS and rising oil prices” 

Operation Cast Lead, war, holocaust, massacre, disaster. There have been so many terms used in the speeches of politicians, intellectuals, and journalists to bring the image of Gaza to the human mind. Do they believe in all of these terms as a representation of what has happened in Gaza? This is a reality that the journalists, despite their presence in the target area of the Zionists, endeavor to describe with their cameras and their pens dried by grief, pain, and death.  What has happened has not yet ended. We at Al- Safeer Al- Iqtsadi try hard to highlight through description and analysis the specifics of the catastrophe in our field: the economic side of events. Who is the winner in the game of blood in Gaza and who is the loser?  What is the deepest economic impact for the winner or the loser, if it can even be said that there is a winner? This is what we will explore in our observation of events in Gaza.

The oil price has a large extent from the tragedy

Oil price rises exceeding $40 a barrel due to the Israeli attack on Gaza. The war on Gaza has prompted the oil price to rise in first 13 days. Oil experts believe that the attack on Gaza, combined with other factors, has contributed to raising the price of oil to current levels of $50 a barrel. According to some economists, the Gaza strip is in the region that provides the world with a third of global production. “Outside parties like Iran has used oil as a pretext and diplomatic tool and has threatened to use it. Venezuela, the sixth largest oil producer in the world, expelled the Israeli ambassador, in a further sign that the major producers are angry. This provokes genuine concern about supplies.”  Arab Markets have reported that traders have been affected by the images of death and deconstruction that the media has broadcasted from Gaza at the time when analysts, experts, and specialist journalists leave the New Year holiday. This has led to the absence of accurate information needed to make decisions. However, there are those who think that the current level of pricing a barrel of oil is will not last. There are other factors such as the Russian- Ukrainian conflict over gas supplies to Europe. According to some experts, the price will not hold but this depends on the commitment of OPEC with its decision, that taken at the last WTO meeting in Algeria, to reduce production.

Crude prices rose to $50 a barrel from its lowest level on 19 December to $32.40. Traders have expected the crisis in the American Economy to be exacerbated as the aggression on Gaza continues. Oil prices keep rising and Washington continues to rely on Arab oil. According to the French-press agency this means that the continuing increase of the price of a barrel of crude oil will lead to more deterioration of the U.S. dollar versus most other currencies, particularly the Euro.

Nahariya receives Katusha and the U.S. dollar rises versus the NIS

The world was not immune from the bullets fired in Gaza. We state here the clear impact on the prices of oil, currency rates and gold. According to PNN agency, the U.S. Dollar rose against the NIS to 3.92 NIS a dollar at the moment in which the Israeli media announced the fall of Katusha rockets from southern Lebanon on Nahariya in northern Israel.

Gold as a safe haven for investors

According to Reuters, in the first week of war the price of crude oil one percentage in the early Asian trade after Israel has started its ground attack on Gaza. At the same time, the gains of oil have pushed investors into commodities. The price of gold rose to $881.75 to the immediate sale of U.S. dollar a troy ounce, up 0.9 percent from the nominal level of closure in New York, which amounted to $873.20 dollar. The prices of future gold contracts rose during the meeting in 2009 due to the rising of the value of the dollar against the yen.

The impact of war on the countries throughout the world

South Korea denied that the war on Gaza has had a powerful influence on its economy.  The Korean Trade Promotion Authority (KOTRA) declared that the Korean trade in the Middle East is not strongly affected by the Israeli aggression on the Palestinian Gaza strip that began on Saturday 27 December 2008.  KOTRA noted a slight impact on trade with Korea. A study by the KOTRA office in Dubai showed that there is no impact on the activity of its companies in Dubai and the Middle East as a result of the Israeli aggression on Gaza strip. However, it did have concerns for the future.  

The freezing of construction of new centers in the Amman Exchange Stock has been reported by the Arab Markets. Jordanian investors have been in continual suspense with “one eye on the stock exchange screen and the other on Gaza screens” according to Jordanian newspapers.  The tragedy has cast its shadow on these investors, making many of them unwilling to build new financial centers and this has negatively affected the movement of the index.

Arab Tourism is also hit by events in Gaza

Arab countries surrounding the scene of the Israeli aggression are affected differently. Lebanese and Syrian tourist industries have been affected by the military offensive in Gaza. In Egypt, there were huge declines in patronage to Egyptian restaurants during the New Year celebration. According to the Libyan tourist site, the Board members of the Chamber of issuance of tourist facilities called for immediate support for the tourism enterprises. The Council called for the preservation of human resources and employment through the government support. Official resources in the tourism sector in Ssuthern Sinai declared that the hotels in Taba and Nuweiba cities were threatened with closure because of the Israeli bombardment on Gaza Strip and the global financial crisis. It must be noted that there are very few tourists in these hotels.

Jordanian experts in the tourism sector predicted a decline in the tourist season in the Kingdom because of the repercussions of Israeli aggression on Gaza. These events are likely to change the direction and destination foreign tourists in particular.  They noted that this will impact on the sector’s contribution to the gross domestic product, which last year reached 14%.

According to the same source, Basim Twesi has confirmed that tourism has been directly affected by the developments in politics over the last few years. He also maintained that the tourist season in the kingdom is negatively affected by the Israeli aggression on Gaza. Twesi believes that the level of its impact on the tourist season is “unknown” because of the absence of clear vision for the war and the possibility of long-term military action.

Twesi notes that some bookings for January are already cancelled. This underlines the negative affect caused by the political events in Palestine. Jordan and Egypt are most-affected with what is happening in Gaza because of their geographical proximity to Israel, Gaza and the West Bank.

The owners of tourist offices have also confirmed that what is happening in Palestine combined with the global crisis economic recession is threatening the tourist season for the upcoming months. It was noted that the bookings of tourist offices were cancelled for January and February of this year. The head of the assembly of the Kingdom’s hotels, Fwaz Al- Hsanat, declared that the Israeli aggression on Gaza will reduce the number of coming tourists to the kingdom, and compared this to the war in 2006 which negatively affected on the tourist season in July of that year. Al- Hsanat pointed out that the numbers of tourist will reduce as the war continues and that this will lead to the weakening of the tourist season in the Kingdom this year.

As for popular Arab markets, it was reported about Arab traders in several articles have been affected with Gaza events. There seems to be an unfamiliar market slowdown at this time of public occasions and festivals. Patriotic songs and tragic scenes of martyrs and wounded, frightened, and homeless people have had a strong impact on the mood of Arab consumers and reduced levels of purchasing.

NIS 100 million daily loss for the Israeli enemy in its war on Gaza

Every day of the aggression has cost the Israeli budget millions of NIS. A Hebrew newspaper declared that the cost of summoning one soldier of the reservists force amounted to about NIS 450 a day. This does not include food and clothing, but represents only the amount of compensation of his wages. It does not also include the real cost of lost productivity in the civilian economy from the call-up reserve soldiers.

The Jerusalem Post newspaper reported that “every day of military operations in Gaza Strip cost the Israeli factories and enterprises in the zone of conflict around 4 million shekels”. The report pointed out that at the beginning of the military operation, the Home Front Command ordered the closure of projects around the perimeter of Gaza: “The Union of Manufactures” in the Zionist entity has declared that 8o factories have been affected by the closure of industrial areas near Sderot, Netivot, and Gaza Strip.   

According to estimates by the Israel Bureau of Statistics, the total national production in Israel was negatively effected by the July 2006 war in Lebanon. The war had an economic affects on the producers and owners of industries on one hand, and social effects such as increasing inequality. It is predicted that this may be repeated in the offensive in Gaza.

The Haaretz newspaper quoted a senior, unnamed government official who stated that “one week of military operations used up the budget allocations from the remaining budget in 2008”. The impact of this military cost will be clearly noticed in 2009 budget. According to Haaretz, the Minister of War refused to comment on these expectations.

The Jerusalem Post stated that the other impacts of the military operations are long- term and may include weakening the purchase power of the NIS and rising oil prices.

Economists have said that the cost of the Israeli occupation during the aggression on Gaza was estimated at 100 million shekels a day. In addition, there is a talk of a decline in the level of Israeli exports and imports. According to the Central Bureau of Statistics features of crisis have started to show up in Tel Aviv and research is being done on the mechanisms for paying for the cost of war. It is not whether there will be reductions in payments to reservists called up to serve.

………………………….etc

It is clear that some people are always able to exploit the political cost of war for their own economic benefit. War can always be used for personal gain and for those working in the international economy.

This is no consolation for Palestine and its people who groan under the scourges of poverty, unemployment, killings, and siege. We are the ones who call loudest for the boycott of Israeli products. Who is the enemy? Has the war on Gaza revealed that there is more than one enemy facing our people? Who we are supposed to boycott and who do we ignore? Are those who give the green light for aggression not an enemy? Are those who supply Israel with the fuel and hardware not an enemy? Are those who speak and not act not an enemy?

Alsafeer Newspaper Investigation

 

 

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  1. Casharbifamma — يونيو 19, 2011 @ 6:30 ص

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