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The upgrade of UAB’s deposit ratings to investment grade (Baa3) reflects the bank’s improved asset quality and profitability metrics; Outlook remains positive
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Small amounts of Egyptian fuel reaching Gaza
GAZA CITY— Officials say small amounts of Israeli fuel are coming into the Gaza Strip, easing an energy crisis provoked by a cutoff of Egyptian fuel.
Brig. Gen. Nazmi Muhana, who is head of the Palestinian Authority border agency in the West Bank, and Israeli military spokesman Maj. Guy Inbar said fuel started flowing through an Israeli crossing on Friday.
Gaza health official Adham Abu Salmia says supplies are enough to power the territory’s only electricity plant for a single day.
The energy crisis is rooted in a decision by Gaza’s Hamas rulers to power the plant with smuggled fuel from Egypt.
They preferred to rely on smuggled fuel than pay for more expensive Israeli fuel.
But the flow of Egyptian fuel slowed weeks ago because Egypt was suffering shortages itself.
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