What's the Big Thing Musk, Bezos and Tim Cook All Have in Common?

One of America's most controversial CEOs says, "A new form of money in America is making some people (including Elon Musk, Jeff Bezos, and 17 of America's 25 wealthiest individuals), rich. It has nothing to do with gold, bitcoin, or anything like that, but it's 100% legal. The problem? Few Americans have a real understanding of how it works.

Colombia breaks diplomatic ties with Israel but its military relies on key Israeli-built equipment

ASTRID SUÁREZ
May 03, 2024

BOGOTA, Colombia (AP) -- Colombia has become the latest Latin American country to announce that it will break diplomatic relations with Israel over its military campaign in Gaza, but the repercussions for the South American nation could be broader than for other countries because of longstanding bilateral agreements over security matters.

Colombian President Gustavo Petro on Wednesday described Israel's actions in Gaza as "genocide," and announced his government would end diplomatic relations with Israel effective Thursday. But he didn't address how his decision could affect Colombia's military, which uses Israeli-built warplanes and machine guns to fight drug cartels and rebel groups, and a free trade agreement between both countries that went into effect in 2020.

Also in the region, Bolivia and Belize have also severed diplomatic relations with Israel over the Israel-Hamas war.

Here's a look at Colombia's close Israel ties and fallout:

WHY IS SECURITY COOPERATION BETWEEN COLOMBIA AND ISRAEL IMPORTANT?

Colombia and Israel have signed dozens of agreements on wide-ranging issues, including education and trade, since they established diplomatic relations in 1957. But nothing links them closer than military contracts.

Colombia's fighter jets are all Israeli-built. The more than 20 Kfir Israeli-made fighter jets were used by its air force in numerous attacks on remote guerrilla camps that debilitated the Revolutionary Armed Forces of Colombia. The attacks helped push the rebel group into peace talks that resulted in its disarmament in 2016.

But the fleet, purchased in the late 1980s, is aging and requires maintenance, which can only be carried out by an Israeli firm. Manufacturers in France, Sweden and the United States have approached Colombia's government with replacement options, but the spending priorities of Petro's administration are elsewhere.

Colombia's military also uses Galil rifles, which were designed in Israel and for which Colombia acquired the rights to manufacture and sell. Israel also assists the South American country with its cybersecurity needs.

WILL PETRO'S ANNOUNCEMENT AFFECT COLOMBIA'S MILITARY-RELATED CONTRACTS WITH ISRAEL?

It remains unclear.

Colombia's Foreign Ministry said Thursday in a statement that "all communications related to this announcement will be made through established official channels and will not be public." The ministry didn't immediately respond to a request for comment from The Associated Press, while the Israeli Embassy in Bogota declined to address the issue.

However, a day before Petro announced his decision, Colombian Defense Minister Iván Velásquez told lawmakers that no new contracts will be signed with Israel, though existing ones will be fulfilled, including those for maintenance for the Kfir fighters and one for missile systems.

Velásquez said the government has established a "transition" committee that would seek to "diversify" suppliers to avoid depending on Israel. He added that one of the possibilities under consideration is the development of a rifle by the Colombian military industry to replace the Galil.

Security cooperation has been at the center of tensions between the two countries. Israel said in October that it would halt security exports to Colombia after Petro refused to condemn Hamas' Oct. 7 attack on southern Israel that triggered the war and compared Israel's actions in Gaza to those of Nazi Germany. In February, Petro announced the suspension of arms purchases from Israel.

For retired Gen. Guillermo León, former commander of the Colombian air force, the country's military capabilities will be affected if Petro's administration breaks its contract obligations or even if it complies with them but refuses to sign new ones.

"At the end of the year, maintenance and spare parts run out, and from then on, the fleet would rapidly enter a condition where we would no longer have the means to sustain it," he told the AP. "This year, three aircraft were withdrawn from service due to compliance with their useful life cycle."

WHAT IS THE TRADE RELATIONSHIP BETWEEN THE TWO COUNTRIES?

A free trade agreement between Colombia and Israel went into effect in August 2020. Israel now buys 1% of Colombia's total exports, which include coal, coffee and flowers.

According to Colombia's Ministry of Commerce, exports to Israel last year totaled $499 million, which represents a drop of 53% from 2022.

Colombia's imports from Israel include electrical equipment, plastics and fertilizers.

Neither government has explained whether the diplomatic feud will affect the trade agreement.

___

Follow AP's coverage of Latin America and the Caribbean at https://apnews.com/hub/latin-america

Continue Reading...

Popular

Apple's Eye-Controlled iPhones, Siri's Upgrade And More: A Recap Of Week's Top Stories In Appleverse

Apple made headlines with innovative accessibility features, labor strikes, and potential partnerships. Stay updated with a quick roundup of top stories.

PASSIVE INCOME (by this evening) - Ad

Hey, I have an unique opportunity for those looking for additional ways to earn income right now. It can be done from home. You can do it in your spare time. And it only takes 6 clicks and as little as $50.

Spending on home renovations slows, but high remodeling costs mean little relief in sight for buyers

LOS ANGELES (AP) — Homeowners have been spending more on home renovations in recent years, as high interest rates and stubbornly high inflation drove up costs for everything from flooring to refrigerators.

Top 4 Health Care Stocks Which Could Rescue Your Portfolio This Month

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Elon Musk Issues Stark Warning Amid Rising National Debt: '...The Dollar Will Be Worth Nothing'

Elon Musk has voiced concerns about the future stability of the U.S. dollar, highlighting the escalating national debt as a potential catalyst for a looming economic crisis.

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies. 

The No. 1 Crypto for 2024 - Ad

It's expected to soar 20X bigger than Bitcoin.

FDIC report outlines 'misogynistic,' 'patriarchal' 'good ol' boys' workplace culture

WASHINGTON (AP) — An independent review of the 's workplace culture describes an environment that fostered “hostile, abusive, unprofessional, or inappropriate conduct," and questions whether the agency's chairman is credible to lead the agency through a cultural transformation.

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Ethereum's Bottom Against Bitcoin 'Still Likely A Few Months Away,' Predicts Crypto Analyst

Prominent cryptocurrency analyst Benjamin Cowen predicted further bearish momentum for Ethereum (CRYPTO: ETH) to Bitcoi

JPMorgan Analysts Optimistic About Future Approval Of Spot Ether ETFs Despite Regulatory Hurdles

In light of recent regulatory actions, JPMorgan analysts remain confident that the SEC's scrutiny of Robinhood (NASDAQ:HOOD) Crypto will not impede the

Why Gold Is Headed Above $3,000 - Ad

Many experts believe gold is headed to $3,000/oz. or even higher. As this rally picks up... most investors will likely run out and buy an ETF, a gold mining stock, or even bullion. But there's actually a much better way to profit from the emerging gold boom (with just $5.)

A tornado hit an Oklahoma newsroom built in the 1920s. The damage isn't stopping the presses

SULPHUR, Okla. (AP) — When Oklahoma and national officials held a press conference Monday to discuss the scale of devastation , Kathy John did what she always does: She showed up to report on it for the town’s weekly newspaper, the Sulphur Times-Democrat.

Asia Up, Europe Mixed, While Yen Surges Against Dollar - Global Markets Today While US Slept

US stock markets closed higher, driven by strong earnings and mild inflation data. Asian markets also gained, while eurozone and oil prices dipped.

$25 AI Stock Could Deliver Life-Changing Windfall - Ad

Discover a company at the forefront of the AI revolution, with up to $1 billion in government-backed contracts and 1,372 patent applications. Trading at just $25 a share...

The SEC charges Trump Media's newly hired auditing firm with 'massive fraud'

SAN FRANCISCO (AP) — The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company.

European companies are less upbeat about China's vast market as its economy slows

BEIJING (AP) — China is actively seeking foreign investment to boost its slowing growth, but that very sluggishness is weighing on company plans to grow their businesses in the world's second largest economy, an annual survey of more than 500 European companies has found.

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon - Ad

Some are calling this the most promising DeFi project since Ethereum itself. Here's the #1 DeFi Coin Set to Soar. While Bitcoin grabs headlines, this lesser known DeFi coin is quietly gearing up for a monster rally. Experts say now is the time to buy before it reaches escape velocity.

We know late-night screens are bad for sleep. How do you stop doomscrolling in bed?

Like many of us, Jessica Peoples has heard the warnings about excessive screen time at night. Still, she estimates spending 30 to 60 minutes on her phone before going to sleep, mostly scrolling through social media.

Microsoft Introduces Isolated AI For US Intelligence To Analyze Secret Data: Report

Microsoft pioneers a groundbreaking move by introducing an isolated generative AI model exclusively accessible to U.S. intelligence agencies. This offline GPT4-based system, functioning in an "air-gapped" environment, promises heightened security for analyzing classified data, meeting the escalating demand for advanced intelligence tools worldwide.

Must-See: Elon's New Invention is Absolutely Insane - Ad

When you click here and see what Elon Musk's new invention does... And how it works... You will NOT believe it. You'll tell yourself this is just science fiction. But Elon just tested this in a real human... And the result was mind-blowing.

Supreme Court rejects Musk appeal over tweets that must be approved by Tesla

WASHINGTON (AP) — The Supreme Court on Monday rejected an appeal from over a settlement with securities regulators that requires him to get approval in advance of some tweets that relate to Tesla, the electric vehicle company he leads.

Could Elon's New Device be Bigger than the iPhone? - Ad

According to 30-year Silicon Valley and Wall Street veteran, Eric Fry... A man who picked 41 plays that jumped 1,000%+... This mind-blowing new technology could be bigger than the iPhone. And it could make a lot of people wealthy in the coming months and years.

Troubled EV Maker Fisker Said To Shut Down California HQ And Relocate Some Staff As Bankruptcy Clock Ticks

Some employees at the Manhattan Beach office have been informed of the relocation and have been asked to prepare for the move by collecting their belongings.

"If I Had To Pour Every Single Penny of My Retirement Into Just ONE STOCK..." - Ad

The former Goldman Sachs VP -- who called everything from Microsoft's 1,100% surge... to the death of the 60/40 portfolio -- is now stepping forward with his most explicit message yet: "Make this ONE STOCK the cornerstone of your portfolio."

Warner Bros. Discovery CEO Optimistic In the Wake Of NBA Rights Tug-Of-War: Report

Amid heated competition from Comcast's NBCUniversal and Amazon Prime Video, Warner's TNT faces a pivotal moment in negotiations with the NBA, poised to secure rights that could reshape its sports lineup and revenue streams.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency

The week was a rollercoaster ride for the cryptocurrency market. The crypto world was buzzing with news, from Shiba Inu’s surging burn rate to speculation of certain altcoins becoming irrelevant.

Discover "U.S.'s New Money" Before Biden Wins - Ad

A new form of money has emerged in America, and it's making some folks wildly rich... (Musk and Bezos both use it). Find out how you can too in this free video.

Stocks Rally As Jobs Report Rekindles Rate Cut Hopes, Apple Rockets, Bitcoin Soars Above $61,000: What's Driving Markets Friday?

A weaker-than-expected jobs report sparked a widespread market rally in the last session of the week, as traders increased expectations on potential interest rate cuts later this year.

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

AI & Crypto in One $11 Investment - Ad

Right now, you can harness the power of two bull markets... Artificial intelligence and cryptos...In one simple $11 investment.

Comstock And 2 Other Stocks Under $3 Insiders Are Buying

Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service