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'Biban 23' Discusses Importance of Supporting Talent to Boost Economy

iban 23 Forum resumed its activities for the third day through a series of workshops and pioneering sessions - SPA
iban 23 Forum resumed its activities for the third day through a series of workshops and pioneering sessions - SPA
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'Biban 23' Discusses Importance of Supporting Talent to Boost Economy

iban 23 Forum resumed its activities for the third day through a series of workshops and pioneering sessions - SPA
iban 23 Forum resumed its activities for the third day through a series of workshops and pioneering sessions - SPA

The third day of the "Biban 23" forum's event saw discussions on the value of assisting small and medium-sized businesses in luring top talent, generating innovative ideas, and creating jobs that will boost the economy.

This came during a panel session on "Financing and Attracting Talent: A Essential Influencer for Growth Leaders."

The speakers discussed the significance of increasing investor and regulator awareness of startups, as well as how to educate, train and make entrepreneurs aware of their options through programs offered by institutions with a connection to the government.

They stressed that failure does not mean the end of the road and that the culture of entrepreneurship must change by supporting them and paving all avenues for their assistance, state news agency SPA reported.

The speakers also highlighted the importance of supporting the successes attained by entrepreneurs. They emphasized the value of financial incentives and training to entice young people to join start-up businesses and contribute to their expansion and profitability.

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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.