June 2010


Main reports: Construction of the first electricity generating power station in the West Bank was announced at the Palestine Investment Conference. The Energy Authority has dedicated $300m to the Palestine Power Generating Company for the project.

A Palestinian-German team is working to establish a Palestinian Employment Agency modelled on employment services provided in other countries. The central agency will oversee a number of one- stop-shops for employment across the West Bank.

Arab Bank has closed two of its three branches in Gaza. The Palestinian Monetary Authority issued its largest ever fine, of JD 300,000, for lack of sufficient notification of the closures, but has been quick to reassure depositors that the banking sector in Gaza is stable.

Unemployment in the West Bank and Gaza fell during Q1 2010 to 16.5% and 33.9% respectively (according to the ILO definition). This is down from 18.1% and 39.3% in Q4 2009, and 17.8% and 42.3% in Q1 2009.