Israel's Cabinet Approves 2024 Budget Increase to Fund Displaced Citizens

A usually crowded beach in Tel Aviv is nearly deserted on August 25, 2024, amid cross-border hostilities between Israel and Lebanon's Hezbollah. (Photo by Ahmad GHARABLI / AFP)
A usually crowded beach in Tel Aviv is nearly deserted on August 25, 2024, amid cross-border hostilities between Israel and Lebanon's Hezbollah. (Photo by Ahmad GHARABLI / AFP)
TT
20

Israel's Cabinet Approves 2024 Budget Increase to Fund Displaced Citizens

A usually crowded beach in Tel Aviv is nearly deserted on August 25, 2024, amid cross-border hostilities between Israel and Lebanon's Hezbollah. (Photo by Ahmad GHARABLI / AFP)
A usually crowded beach in Tel Aviv is nearly deserted on August 25, 2024, amid cross-border hostilities between Israel and Lebanon's Hezbollah. (Photo by Ahmad GHARABLI / AFP)

Israel's cabinet on Sunday approved an expansion of 3.4 billion shekels ($923 million) in the 2024 state budget to help fund evacuees until the end of the year, the Finance Ministry said.

Tens of thousands of Israelis in the north have been displaced into hotels in the wake of daily rocket attacks by Hezbollah since the outbreak of the Israel-Hamas war that began on Oct. 7. Those from Gaza border communities are also included in what the cabinet called "conflict zones.”

According to Reuters, he ministry also said that 525 million shekels of the total budget was returned to state coffers after prior spending cuts, while another 200 million shekels would finance army reservists.

The ministry said it was working to bring the budget adjustments for a vote in parliament as soon as possible.

Finance Minister Bezalel Smotrich said the additional funds would not add to the budget deficit and that the deficit would reach its 2024 target of 6.6% of gross domestic target.



China Rebuffs Trump Offer of Tariff Concessions if Beijing Agrees TikTok Deal

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
TT
20

China Rebuffs Trump Offer of Tariff Concessions if Beijing Agrees TikTok Deal

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

China rebuffed on Thursday a suggestion from US President Donald Trump that he might offer to reduce tariffs on the country to get Beijing's approval for the sale of popular social media platform TikTok.

Trump said this month the United States was in talks with four groups interested in acquiring TikTok, with the app facing an uncertain future in the country, AFP said.

A US law has ordered TikTok to divest from its Chinese owner ByteDance or be banned in the United States, enacted over concerns that Beijing could exploit the video-sharing platform to spy on Americans or covertly influence US public opinion.

The law took effect on January 19, a day before Trump's inauguration, but he quickly announced a delay that has allowed it to continue to operate.

That delay is set to expire on April 5.

Trump told reporters at the White House on Wednesday that he could give China "a little reduction in tariffs or something to get it done".

"We're going to have a form of a deal," Trump said, adding that if it wasn't done in time, he would extend the deadline.

"China is going to have to play a role in that, possibly in the form of an approval and I think they'll do that."

Beijing swiftly rebuffed Trump's suggestion, with its foreign ministry saying that it has "repeatedly stated our position" on TikTok.

"The Chinese side's stance against imposing additional tariffs is also consistent and clear," foreign ministry spokesman Guo Jiakun said.

'People's Bid for TikTok'

Trump similarly attempted to ban TikTok in the United States on national security concerns during his first stint in the White House.

TikTok temporarily shut down in the United States in January and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.

Trump suspended its implementation for two-and-a-half months after beginning his second term on January 20, seeking a solution with Beijing.

TikTok subsequently restored service in the United States and returned to the Apple and Google app stores in February.

Artificial intelligence (AI) startup Perplexity recently expressed its interest in buying TikTok.

Perplexity laid out in a blog post a vision for integrating its AI-powered internet search capabilities with the popular video-snippet sharing app.

"Combining Perplexity's answer engine with TikTok's extensive video library would allow us to build the best search experience in the world," the San Francisco-based firm said.

Although TikTok does not appear overly motivated regarding the sale of the app, potential buyers include an initiative called "The People's Bid for TikTok", launched by real estate and sports tycoon Frank McCourt's Project Liberty initiative.

Others in the running are Microsoft, Oracle and a group that includes Internet personality MrBeast, whose real name is Jimmy Donaldson.

"Any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm, while any acquisition by a competitor would likely create a monopoly in the short form video and information space," Perplexity said in its post.

"All of society benefits when content feeds are liberated from the manipulations of foreign governments and globalist monopolists."