Calls for Airbnb users to shut accounts over Israeli settlements

That statement says that while the company will not ban settlement homes it will give all profits from those listings to charities. (Shutterstock)
Updated 15 May 2019

Calls for Airbnb users to shut accounts over Israeli settlements

  • After Israeli pressure, the company last month reversed course and scrapped plans to ban homes in settlements from listing on the site
  • That statement says that while the company will not ban settlement homes it will give all profits from those listings to charities

RAMALLAH, Palestinian Territories: Campaigners called on supporters of the Palestinian cause to at least temporarily deactivate their Airbnb accounts on Wednesday to protest its listings in settlements in the occupied West Bank.
After Israeli pressure, the company last month reversed course and scrapped plans to ban homes in settlements from listing on the site.
The decision has led to fresh anger from groups opposed to the settlements, which are considered illegal under international law.
A range of organizations including Jewish Voice for Peace and the Palestine Institute for Public Diplomacy have backed a call for an at least temporary deactivation, with organizers saying thousands had pledged to do so.
“Ultimately we would like Airbnb to reverse its decision but we know that won’t be easy,” Salem Barahmeh, executive director of PIPD, told AFP.
“But I think what we ultimately want to do is end this culture of impunity where international companies are allowed to be complicit in supporting war crimes and Israeli settlements that have been responsible for displacing Palestinians.”
Airbnb declined to comment, pointing instead to its statement from the April reversal.
That statement says that while the company will not ban settlement homes it will give all profits from those listings to charities.
Campaigners say this does not stop the settlers from making profits.
Around 400,000 Israelis live in settlements that dot the West Bank and range in size from tiny hamlets to large towns, in addition to 200,000 living in settlements in annexed east Jerusalem.
Settlements are built on land the Palestinians see as part of their future state.
The date of the protest coincides with the Palestinian commemoration of what they call the Nakba, or catastrophe, when hundreds of thousands of Palestinians fled or were expelled from their land in the war surrounding the creation of Israel.


Gulf Marine CEO quits after review sparks profit warning

Updated 22 August 2019

Gulf Marine CEO quits after review sparks profit warning

  • Tensions in the Arabian Gulf, a worrisome global growth outlook and uncertainty over oil prices have recently dampened investor confidence

DUBAI: Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year, kicking its shares 12 percent down.

The Abu Dhabi-based offshore services specialist said a review by new finance chief Stephen Kersley of its large E-class vessels operating in Northwest Europe and the Middle East pointed to 2019 core earnings of between $45 million and $48 million, below $58 million that it reported last year.

A source familiar with the matter told Reuters that Anderson, who has served as CEO for 12 years, was asked to step down. Anderson could not be reached for comment.

The company, which in the past predominantly operated in the UAE, expanded operations and deployed large vessels in the North Sea and Saudi Arabia nine years ago and listed its shares in London in 2014.

Tensions in the Arabian Gulf, a worrisome global growth outlook and uncertainty over oil prices have recently dampened investor confidence.

The North Sea has seen a revival in production in recent years due to new fields coming on line and improved performance by operators following the 2014 oil price collapse.

Still, the basin’s production is expected to decline over the next decade, according to Britain’s Oil and Gas Authority.

“(The CFO’s) review has coincided with a pause in renewables-related self-propelled self-elevating support vessels activity in the North Sea, which will impact several of the higher day-rate E-Class vessels,” Investec wrote in a note.

Gulf Marine appointed industry veteran Kersley as chief financial officer in late May as it sought to halt a slide which has seen the company’s shares fall nearly 80 percent last year and another 23 percent so far this year.

The company said market conditions remained challenging and that it was still in talks with its financial advisors regarding a new capital structure.

“Management, the new board and the group’s advisors, have been in negotiation with the group’s banks on resetting its capital structure and progress has been made,” it said in a statement.

Last year, Gulf Marine said contracts were delayed into 2019 as the company was seen to be in breach of certain banking covenants at the end of 2018.

The company said it was still in talks with its banks and individual lenders with hopes of getting a waiver or an agreement to amend the concerned covenants.