Israel grants workers

Overall, he notes, Indian ports are beginning to lack competitiveness compared to other regional players, which places the country's overseas trade at risk.

The Israeli government is offering port workers at Haifa and Ashdod a total of $9.95m in grants to buy heavily discounted shares, if they support the proposed IPO, which will see 49% of the National Ports Authority pass into private sector hands. Port unions remain cool towards the IPO, which is scheduled for early 2005.

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