Rothschild to advise on Dubai fund: Plus background information on Rothchild’s ties to the Zionist movement
Rothschild to advise on Dubai fund
| http://archive.gulfnews.com/articles/09/04/04/10301115.html |
04/03/2009 11:01 PM | Staff Report
Dubai: The Dubai Department of Finance said it has appointed Rothschild to advise on the establishment of a financial support fund for which $10 billion of five-year bonds have already been issued.
The fund will be wholly owned by the Dubai Department of Finance and controlled by the Supreme Fiscal Committee of Dubai.
It will provide targeted financial support and liquidity to certain state-affiliated entities across the Dubai economy while facilitating the reforms necessary to protect stakeholder value and the long-term viability of these entities.
Further details of the principles for qualification, disbursement, monitoring and recovery of the fund will be provided in due course… SOURCE
Some background on the Rothchilds
…However, in 1882 Edmond cut back on his purchases of art and began to buy land in Palestine. He became a leading proponent of the Zionist movement, financing the first site at Rishon LeZion. In his goal for the establishment of a Jewish homeland, he promoted industrialization and economic development. In 1924, he established the Palestine Jewish Colonization Association (PICA), which acquired more than 125,000 acres (506 km²) of land and set up business ventures.
Edmond de Rothschild also played a pivotal role in Israel’s wine industry. Under the supervision of his administrators in Palestine, farm colonies and vineyards were established, and two major wineries were opened in Rishon LeZion and Zichron Yaakov.[1]
It is estimated that Edmond de Rothschild spent over $50 million dollars in supporting the settlements, and backed research in electricity by engineers and financed development of an electric generating station. In a 1934 letter to the League of Nations, Edmond de Rothschild stated that “the struggle to put an end to the Wandering Jew, could not have as its result, the creation of the Wandering Arab.”…
For his Jewish philanthropy Baron Edmond became known as “HaNadiv HaYadu’a”, (Hebrew for “The Known Benefactor” or “The Famous Benefactor”) and in his memory his son bequeathed the funds to construct the building for the Knesset.
Israel’s 1982/5742 Independence Day coin is dedicated to the memory of Edmond de Rothschild and marks the centenary of his first projects in Israel. From 1982 until 1986, the Bank of Israel used his portrait on the 500 Israeli sheqel note.[2]
Rothschild Boulevard in Tel Aviv is named after him, as well as various localities throughout Israel which he assisted in founding. Rishon LeZion, the city which he helped to found named one of the central streets Rothschild Street, and in 1996 Rothschild Mall was built…
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Tags: Background Information, Business Ventures, Colonization, Course Source, Department Of Finance, Disbursement, Edmond De Rothschild, Fiscal Committee, Generating Station, Gulfnews, Industrialization, Jewish Homeland, League Of Nations, Pivotal Role, Rothchild, Rothchilds, Term Viability, Wine Industry, Zichron Yaakov, Zionist Movement
