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Israel Cabinet Meets; Hears Report on World Situation; Makes Important Decisions

The Israel Cabinet met today to hear a report on the international situation from Foreign Minister Moshe Sharett. No details of the report were made known. The Cabinet also heard a report on the economic situation of the Jewish state submitted by Eliezer Kaplan, Minister of Finance.

At its meeting the Cabinet also approved loans for basic chemical industries as well as a plan to build a road from Sodom to Beersheba. It also prepared a draft of a bill which would enable the transfer to Israel of companies registered in England. The adoption of this bill would make it possible for the Anglo-Palestine Bank to transfer its central office from London to Jerusalem.