Six Palestinians escape from high-security Israeli prison


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Israeli police on Monday were searching northern Israel and the occupied West Bank for six Palestinians who escaped from a high-security prison.

The prisoners escaped at night from the Gilboa prison, which is described as one of Israel's most secure complexes.

The Israel Prison Service said an alert was sounded around 3am by locals who spotted "suspicious figures" outside the prison in the country's north. It released a video which showed agents inspecting a narrow tunnel dug beneath a sink, burrowing deep into the ground.

Israel’s Army Radio said the men appeared to have received some help from outside.

Israeli security officers search on September 6, 2021 for six Palestinian prisoners who managed to escape from Gilboa prison overnight. Getty Images
Israeli security officers search on September 6, 2021 for six Palestinian prisoners who managed to escape from Gilboa prison overnight. Getty Images

The IPS said all 400 inmates detained at Gilboa over "security offences" were being relocated in case additional tunnels had been dug beneath the prison.

The Palestinian Prisoners’ Club, which represents former and current prisoners, identified the men as ranging in age from 26 to 49 years old. They include Zakaria Zubeidi, 46, from the West Bank city of Jenin, who is a former leader of the Al Aqsa Martyrs Brigades that carried out deadly attacks against Israelis during the 2000-2005 Palestinian uprising. He was imprisoned in 2019 over "terror allegations".

Four of the other prisoners were serving life sentences, the prisoners’ group said.

A court gag order was imposed on Monday evening which bans publication of any details of the investigation. The order is valid for 30 days, police said in a statement, although it may be lifted sooner.

A police spokesman said earlier that security forces believed the fugitives might try to reach the West Bank, where the Palestinian Authority exercises limited self-rule, or the Jordanian border about 14 kilometres to the east. The prison is about 4km from the West Bank border.

A police official said the Israeli military (IDF) and other agencies were involved in the search operation.

“In a joint effort, IDF and the Israeli Security Agency (ISA) troops are assisting the Israeli police and the Israeli Prison Service in searching after the six security prisoners that escaped the Gilboa Prison earlier this morning. Likewise, IDF aircraft have been assigned for observation tasks.”

Authorities in nearby towns were on high alert and roadblocks were set up.

Israeli Prime Minister Naftali Bennett called the escape a “grave incident” that required maximum effort by Israel’s various security branches.

The prisoners escaped on the eve of the Jewish New Year.

A spokesman for the Palestinian militant group Hamas called the escape a “victory for the will and determination of our heroic prisoners".

Even Palestinian Authority President Mahmoud Abbas' Fatah party praised the escape, with an official Twitter account posting a picture of Zubeidi and hailing what it called the “freedom tunnel”.




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Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

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UAE currency: the story behind the money in your pockets
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Updated: September 06, 2021, 3:50 PM`