Written by: Aaron Katsman | April 20, 2009
Israeli president Shimon Peres lashed out at the UN anti racism conference, and especially Switzerland.
According to Ynet: “I feel disgraced that a racist conference is opening in Geneva on the eve of Holocaust Remembrance Day, with Ahmadinejad as guest of honor. This is the same Ahmadinejad that called for the destruction of Israel and wants it wiped off the map.
“There must be a limit to Switzerland’s neutrality. Is Ahmadinejad the world’s hope for the future?” Peres said.
No offense Mr. President, but these European countries among others that will attend, have been the countries you have been chasing after for 40 years to get on better terms with Israel. Maybe your disgust is because once again, your entire worldview has been shattered?
Written by: Aaron Katsman | February 18, 2009
Looking to take advantage of the depressed global banking industry, it appears that the Israeli Bank Hapoalim, is looking to make an acquisition of a private bank in Switzerland.
According to Globes: “Bank Hapoalim (TASE: POLI; LSE:80OA) is considering expanding its activity in Switzerland by acquiring another local bank, and has allocated $500 million for this purpose. Bank Hapoalim wants a bank that specializes in private banking. Bank Hapoalim wants to exploit the global banking crisis and falling bank prices to expand its current Swiss banking business by absorbing an acquired bank. It has already conducted a preliminary survey of possible acquisition targets.”
I think this is a great strategy. Trying to expand by buying cheap assets is a great way to do it. Small, niche private banks are quite profitable and will add to Bank Hapoalim’s profitibilty, as well as help the bank diversify away from the Israeli economy.
