This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Gaza's Tunnels Rebound From Israeli Offensive

By MOHAMMED DARAGHMEH

RAFAH, Gaza Strip (AP) â¿¿ Rafah's biggest industry is back in business: Gazans are rebuilding the network of underground smuggling tunnels crisscrossing the Egyptian border that were pummeled in a recent Israeli offensive, restoring the illicit conduit for consumer goods and weapons so crucial to Hamas rule.

The 12-kilometer (eight-mile) slice of land at the Gaza Strip's southern tip is humming around the clock with workers carting in cement, bricks, gravel and scaffolding. The quick rebound has raised questions about how much damage Israel inflicted on the tunnels during last month's eight-day air offensive.

Anwar Abu Lebdeh and seven other workers were laying bricks on a recent day to rebuild the entrance to a 500-meter (550-yard) tunnel battered by an Israeli airstrike last month. Nearby, workers hauled cement sacks on their shoulders, and a bulldozer lifted gravel onto a nearby truck. After loading up at tunnel sites, trucks lumbered over to Hamas government points to pay taxes on their cargo.

"It's our source of life, this is the only job we could find. I have been working here for five years," said Abu Lebdeh, 24, who had to slog through mud left by heavy rain to get the job done.

The tunnel industry has become key to Gaza's economy since Israel and Egypt imposed a blockade on the territory after Hamas seized power there in 2007.

The tunnels ferry in a wide range of items besides essentials, including Chinese motorcycles, farm and zoo animals, appliances â¿¿ and large Iranian rockets that can hit Tel Aviv.

Responding to months of daily rocket salvos from Gaza, last month Israel unleashed its air force, starting with an airstrike that killed Hamas commander Ahmed Jabari. In eight days, the Israeli military carried out more than 1,500 airstrikes on militant targets, including rocket-launching sites, weapons storehouses and dozens of the roughly 500 smuggling tunnels operating under the short border.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs