World Biz
Norway along with Ireland, Spain Recognise Palestine as Independent State
Norway, Ireland and Spain recognized a Palestinian state on Wednesday(May 22) in a historic move that drew condemnation from Israel and jubilation from the Palestinians. Israel ordered back its ambassadors from Norway and Ireland.
It was a lightning cascade of announcements. First was Norway, whose Prime Minister Jonas Gahr Store said “there cannot be peace in the Middle East if there is no recognition.”
Gahr Store said the Scandinavian country will officially recognize a Palestinian state as of 28 May. “By recognizing a Palestinian state, Norway supports the Arab peace plan,” he said.
Several European Union countries have in the past weeks indicated that they plan to make the recognition, arguing a two-state solution is essential for lasting peace in the region.
Norway, which is not a member of the European Union but mirror its moves, has been an ardent supporter of a two-state solution between Israel and the Palestinians.
“The terror has been committed by Hamas and militant groups who are not supporters of a two-state solution and the state of Israel,” the Norwegian government leader said. “Palestine has a fundamental right to an independent state.”
The move comes as Israeli forces have led assaults on the northern and southern edges of the Gaza Strip in May, causing a new exodus of hundreds of thousands of people, and sharply restricted the flow of aid, raising the risk of famine.
The Scandinavian country “will therefore regard Palestine as an independent state with all the rights and obligations that entails,” Gahr Store said.
The development comes more than 30 years after the first Oslo agreement was signed in 1993. Since then, “the Palestinians have taken important steps towards a two-state solution,” the Norwegian government said.
It said that the World Bank determined that a Palestinian state had met key criteria to function as a state in 2011, that national institutions have been built up to provide the population with important services.
“The war in Gaza and the constant expansion of illegal settlements in the West Bank still mean that the situation in Palestine is more difficult than it has been in decades,” the Norwegian government said.
Also Wednesday, Irish Prime Minister Simon Harris made his announcement, saying it was a move coordinated with Spain and Norway, “an historic and important day for Ireland and for Palestine.” He said the move was intended to help move the Israeli-Palestinian conflict to resolution through a two-state solution.
The Irish prime minister said he thinks other countries will join Norway, Spain and Ireland in recognizing a Palestinian state “in the weeks ahead.”
Spanish Prime Minister Pedro Sanchez said that his country will recognize a Palestinian state also on 28 May. Sanchez, Spain’s Socialist leader since 2018, made the expected announcement to the nation’s Parliament on Wednesday.
Sanchez has spent months touring European and Middle Eastern countries to garner support for the recognition of a Palestinian state, as well as a possible ceasefire in Gaza. He has said several times that he was committed to the move.
Earlier this month, Spain’s Foreign Minister Jose Albares said he had informed US Secretary of State Antony Blinken of his government’s intention of recognizing a Palestinian state.
The fast-moving developments drew Israel’s condemnation. Israel’s Foreign Minister Israel Katz ordered Israel’s ambassadors from Ireland and Norway to immediately return to Israel, as Norway said it would recognize a Palestinian state and Ireland was expected to do the same.
“Ireland and Norway intend to send a message today to the Palestinians and the whole world: terrorism pays,” Katz said.
He said that the recognition could impede efforts to return Israel’s hostages being held in Gaza and makes a cease-fire less likely by “rewarding the jihadists of Hamas and Iran.” He also threatened to recall Israel’s ambassador to Spain if the country takes a similar position.
Palestinian President Mahmoud Abbas welcomed Norway’s recognition of a Palestinian state and called on other countries to follow.
In a statement carried by the official Wafa news agency, he says Norway’s decision, announced Wednesday, will enshrine “the Palestinian people’s right to self-determination” and support efforts to bring about a two-state solution with Israel.
Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker’s legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins.
Shareholders of the electric-car maker are voting on a proposal to ratify CEO Musk’s 2018 incentive package, valued at up to $56 billion at the time and the largest in US corporate history, after a Delaware judge voided the plan approved by its board “beholden” to Musk.
The result will be announced at a meeting on Thursday.
A person familiar with the preliminary tally confirmed Musk’s post, and said that a combination of big institutional investors and retail investor got the ‘yes’ result over the line.
Shareholders, however, are allowed to change their vote up to the start of the annual meeting.
Tesla shareholders also cast ballots on other proposals including the move of Tesla’s legal headquarters from Delaware to Texas, as well as the re-election of two board members: Musk’s brother Kimbal Musk and James Murdoch.
Musk referred to the resolutions on his pay package and the move in his tweet, thanking shareholders for their support.
Some investors viewed the vote on Musk’s pay as a test of confidence in his leadership. While he is undoubtedly Tesla’s driving force, and is credited with much of its success, the company has recently seen slowing sales and profits.
The board said the world’s richest person deserves the package, because he hit all the ambitious targets on market value, revenue and profitability.
The pay package is also needed to keep Musk devoted to Tesla, the board said, even though the Delaware judge said the 2018 pay plan failed to make sure that Musk committed a substantial amount of time to Tesla.
Musk has threatened to build AI and robotics products outside Tesla, if he fails to gain enough voting control, which requires the 2018 pay package to be approved.
Some large shareholders including Norway’s sovereign wealth fund and California’s two largest pension funds have said they will vote against the compensation, saying the pay is excessive.
Tesla has been drumming up support for Musk’s pay package, especially from retail investors, who make up an unusually high percentage of its ownership base but who often do not vote.
Company executives have posted messages on X, saying Musk is critical to Tesla’s success. Tesla has run social media ads, and Musk has promised a personal tour of Tesla’s factory in Texas to some shareholders who cast votes.
COURT BATTLE
The same package was previously rejected by a Delaware judge who invalidated it as an “unfathomable sum” granted by a conflicted board with close personal and financial ties to its top executive.
The board held the shareholder vote as a way to bolster its appeal of the ruling, in which the judge cited the board’s failure to fully inform shareholders before approving the pay package in 2018.
Musk has to wait months or years to get his pay package restored as appeals wind their way up to Delaware’s Supreme Court.
Tesla could also face more litigation from some shareholders. One of them this month filed a lawsuit challenging the upcoming shareholder vote on Musk’s pay package and the change of domicile.
A devastating fire broke out early Wednesday in a building housing workers in Mangaf, southern Kuwait, resulting in the deaths of at least 41 people, according to Deputy Prime Minister Sheikh Fahad Yusuf Saud Al-Sabah.
During his visit to the site, Sheikh Fahad, who also oversees the interior and defense ministries, criticized real estate owners for their violations and greed, attributing these factors to the tragic incident.
“Unfortunately, the greed of real estate owners is what leads to these matters,” Sheikh Fahad stated.
The blaze was reported to authorities at 6:00 a.m. local time (0300 GMT), according to Major General Eid Rashed Hamad.
“The building was used to house a large number of workers. Dozens were rescued, but sadly, many succumbed to smoke inhalation,” a senior police commander informed state television.
He further emphasized the longstanding warnings against overcrowding in worker accommodations, though he did not specify the workers’ occupations or nationalities.
The fire has been contained, and authorities are currently investigating its cause, officials said.
The Baltimore shipping lane blocked for more than two months after a cargo ship collided with a major bridge in
March, sending it crashing into the water, fully reopened on Monday, authorities said.
The US Army Corps of Engineers, along with Navy salvage divers, restored the channel to its original dimensions by removing about 50,000 tons of debris from the Patapsco River, a statement from the Key Bridge Response Unified Command said.
The riverbed was certified as safe for transit on Monday.
“We are proud of the unified efforts that fully reopened the Federal Channel to port operations,” said Lieutenant General Scott Spellmon, commanding general of the Army Corps of Engineers.
“The partnerships that endured through this response made this pivotal mission successful.”
On March 26, the Singapore-flagged M/V Dali lost power and plowed into a support column of the Francis Scott Key Bridge, causing it to collapse and killing six road workers who had been filling potholes overnight.
The 106,000-ton ship had been headed for Sri Lanka at the time of the accident.
The US National Transportation Safety Board (NTSB), which is investigating the incident along with the FBI, has said the ship had two electricity blackouts in the moments before the disaster.
The Dali was refloated last month and towed back into port.
The port of Baltimore is one of America’s busiest ports and a key hub for the auto industry, handling almost 850,000 autos and light trucks last year — more than any other US port, according to state figures.
The full reopening of the shipping channel will allow for two-way traffic, Monday’s statement said.
