Israel’s president travels to Turkey as countries heal rift

Thursday March 10, 2022

Israeli President Isaac Herzog travels to Turkey on Mar 9 , becoming the first Israeli leader to visit in 14 years, as the two countries move to turn a new page in their troubled relationship.

Israel’s president travels to Turkey as countries heal rift

Israeli President Isaac Herzog travels to Turkey on Mar 9 , becoming the first Israeli leader to visit in 14 years, as the two countries move to turn a new page in their troubled relationship.

Herzog is scheduled to hold talks with Turkish President Recep Tayyip Erdogan in Ankara before traveling to Istanbul for meetings with Turkey’s Jewish community there.

Turkey and Israel were once close allies, but the relationship frayed under Erdogan, who is an outspoken critic of Israel’s policies toward the Palestinians. Israel, for its part, has been angered by Erdogan’s embrace of Hamas, the militant group that controls the Gaza Strip. Israel considers Hamas a terrorist group.

The countries withdrew their ambassadors in 2010 after Israeli forces stormed a Gaza-bound flotilla carrying humanitarian aid for the Palestinians that broke an Israeli blockade. The incident resulted in the deaths of nine Turkish activists.

Relations broke down again in 2018 when Turkey, angered by the U.S. to moving its embassy Jerusalem, once more recalled its ambassador from Israel, prompting Israel to also recall its envoy. The two countries have not so far reappointed ambassadors.

The steps toward a rapprochement with Israel comes as Turkey, beset by economic troubles, has been trying to end its international isolation by normalizing its frayed ties with several countries of the region, including Egypt, the United Arab Emirates and Saudi Arabia.

In the first step toward reconciliation, Erdogan called Herzog by phone after the Israeli head of state took office last year and the two have held several telephone conversations since then. Erdogan has also spoken to Prime Minister Naftali Bennett following the release of an Israeli couple who were arrested in Istanbul on suspicion of spying.

Last week, Herzog visited Cyprus where he issued reassurances that Israel’s warming relation with Turkey would not come at the expense of ties with Nicosia. During a visit to Greece last month, Herzog made similar remarks, insisting Israel would continue to expand its cooperation with Greece and Cyprus, which both have tense relations with Turkey.

Israel’s ties with Greece and Cyprus blossomed following the discovery of sizeable natural gas deposits in eastern Mediterranean waters as the countries look for ways to build on energy-based cooperation.

Turkey for its part has said there would be no change to Ankara’s position toward the Palestinians despite the normalization efforts with Israel.

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Cabinet approves setting up of National Land Monetisation Corporation

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The Union Cabinet chaired by Prime Minister Narendra Modi on March 9 approved the setting up of the National Land Monetisation Corporation (NLMC) that will undertake the work of monetisation of surplus land and building assets of Central Public Sector Enterprises.

Cabinet approves setting up of National Land Monetisation Corporation

The Union Cabinet chaired by Prime Minister Narendra Modi on March 9 approved the setting up of the National Land Monetisation Corporation (NLMC) that will undertake the work of monetisation of surplus land and building assets of Central Public Sector Enterprises.

The NLMC will be set up as a wholly-owned Government of India company with an initial authorised share capital of Rs 5000 crore and paid-up share capital of Rs 150 crore.

It will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies. The proposal is in pursuance of the Budget Announcement for 2021-22.

Going forward, the Department of Public Enterprise, Ministry of Finance, will set up the company and act as its administrative ministry.

With monetisation of non-core assets, Government would be able to generate substantial revenues by monetizing unused and under-used assets.

The NLMC is also expected to own, hold, manage and monetise surplus land and building assets of CPSEs under closure and the surplus non-core land assets of Government-owned CPSEs under strategic disinvestment. This will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of Government-owned CPSEs.

These assets may be transferred to NLMC to hold, manage and monetise.

It will also advise and support other Government entities (including CPSEs) in identifying their surplus non-core assets and monetizing them in a professional and efficient manner to generate maximum value realisation.

In these cases (e.g., ongoing CPSEs and listed CPSEs under strategic disinvestment), NLMC will undertake surplus land asset monetization as an agency function. It is expected that NLMC will act as a repository of best practices in land monetization, assist and provide technical advice to the Government in the implementation of the asset monetization programme.

The NLMC will have the necessary technical expertise to professionally manage and monetize land assets on behalf of CPSEs and other Government agencies. The Board of Directors of NLMC will comprise senior Central Government officers and eminent experts to enable professional operations and management of the company. The Chairman, non-Government Directors of the NLMC will be appointed through a merit-based selection process.

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