People turn their backs in protest at the Israeli judicial reform at an air force pilot graduation ceremony this week. EPA
People turn their backs in protest at the Israeli judicial reform at an air force pilot graduation ceremony this week. EPA
People turn their backs in protest at the Israeli judicial reform at an air force pilot graduation ceremony this week. EPA
People turn their backs in protest at the Israeli judicial reform at an air force pilot graduation ceremony this week. EPA

Israeli government criticises judicial overhaul protests


Thomas Helm
  • English
  • Arabic

Israel's government hit out at protesters demonstrating against the administration's proposed legal overhaul, after a crowd blocked traffic to the country's main airport earlier in the week and targeted the homes of ministers.

The country's attorney general in particular drew strong ire, with ministers complaining that authorities were not doing enough to stop disruptions caused by protesters.

In leaked comments that were widely reported in Israeli media, Prime Minister Benjamin Netanyahu was reported to have asked in a closed-door meeting on Thursday: “In what country in the world do people block off an airport and not get prosecuted?”

Signs of the government's exasperation come as the judicial reform protest movement again ramps up the pressure, which at the beginning of the year led to weekly demonstrations across the country that drew hundreds of thousands of Israelis into the streets.

Israeli Prime Minister Benjamin Netanyahu at an air force event on Thursday. AP
Israeli Prime Minister Benjamin Netanyahu at an air force event on Thursday. AP

The divisions were stark enough for President Isaac Herzog to say that Israel could descend into "civil war".

Mr Netanyahu suspended attempts to enact the judicial reform bill in March while Mr Herzog oversaw negotiations between government and opposition politicians to find a compromise on the overhaul, which the administration says is needed to curb an overly powerful judiciary.

On Thursday, Mr Herzog warned graduating military reservist pilots that their threat to not turn up for duty would undermine the country's security.

His call came after more than 100 air force reservists issued an open letter in which they said would not turn up for duty if the judicial reform moved ahead.

Their warning is reminiscent of action taken earlier in the year by some elite units in the country's armed forces, including the air force, special forces and cyber community.

The judicial reform has also deepened rifts within the government, after Mr Netanyahu told The Wall Street Journal that he was cancelling a particularly controversial aspect of the package nown as the "override clause".

Protesters demonstrate against Benjamin Netanyahu and his nationalist coalition government's judicial overhaul in June. Reuters
Protesters demonstrate against Benjamin Netanyahu and his nationalist coalition government's judicial overhaul in June. Reuters

The provision would have effectively allowed parliament to pass laws that are immune from judicial review, a measure that critics say would render Israel's legal system pointless.

Far-right National Security Minister Itamar Ben-Gvir accused Mr Netanyahu of surrendering and breaking his promises.

The clause is particularly important to ultra-Orthodox parties in the coalition, who view it as a way of ensuring that men in the community continue to be exempt from military service, a policy many Israelis object to.

UAE%20SQUAD
%3Cp%3E%0DJemma%20Eley%2C%20Maria%20Michailidou%2C%20Molly%20Fuller%2C%20Chloe%20Andrews%20(of%20Dubai%20College)%2C%20Eliza%20Petricola%2C%20Holly%20Guerin%2C%20Yasmin%20Craig%2C%20Caitlin%20Gowdy%20(Dubai%20English%20Speaking%20College)%2C%20Claire%20Janssen%2C%20Cristiana%20Morall%20(Jumeirah%20English%20Speaking%20School)%2C%20Tessa%20Mies%20(Jebel%20Ali%20School)%2C%20Mila%20Morgan%20(Cranleigh%20Abu%20Dhabi).%3C%2Fp%3E%0A
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%20turbo%20and%203.6-litre%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20235hp%20and%20310hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E258Nm%20and%20271Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh185%2C100%0D%3Cbr%3E%3C%2Fp%3E%0A
How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

Updated: June 30, 2023, 11:21 AM