Category: Israels
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Israel’s fiscal deficit falls below 7%
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Israel’s fiscal deficit narrowed for the third month in a row and ended 2024 at 6.9% of GDP, the Finance Ministry reported. The deficit in the twelve months until the end of December 2024 amounted to 136.2 billion shekels. After a year of war on several fronts and mass evacuations…
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Israel’s bullish markets see hostage deal as just the start
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In recent days, the financial markets in Israel have behaved as if they know something that we do not know. As rumors of a ceasefire grow, the shekel grows stronger, and stock market gains point to hopes far beyond an end to the fighting in Gaza. Market sources are optimistic…
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New surtax targets Israel’s wealthiest
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Families in the top 0.01% of wealth in Israel will pay an average of NIS 300,000 more in additional tax in 2025, according to calculations based on Finance Ministry projections for a new law, which took effect on January 1 and seeks to expand tax collection from the wealthy. While…
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New surtax targets Israel’s wealthiest
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Families in the top 0.01% of wealth in Israel will pay an average of NIS 300,000 more in additional tax in 2025, according to calculations based on Finance Ministry projections for a new law, which took effect on January 1 and seeks to expand tax collection from the wealthy. While…
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Pratt & Whitney postpones closure of Israels BTL
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Two years after US aerospace manufacturer Pratt & Whitney announced the closure of the Israeli factory Blades Technology (BTL), the situation on the ground has changed. It was expected that 900 employees would be laid off at the Nahariya factory. But a source close to the matter told Globes that…
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Pratt & Whitney postpones closure of Israels BTL
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Two years after US aerospace manufacturer Pratt & Whitney announced the closure of the Israeli factory Blades Technology (BTL), the situation on the ground has changed. It was expected that 900 employees would be laid off at the Nahariya factory. But a source close to the matter told Globes that…
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Israel’s population surpasses 10m, as 83,000 leave
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The population growth rate decreased from 1.6% in 2023 to 1.1% in 2024, according to the Central Bureau of Statistics. Israel’s population rose by 1.1% over the past year to reach just over 10.027 million people, the Central Bureau of Statistics reports. However, 82,700 Israelis left the country during the…
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Oracle eager to build Israel’s supercomputer
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After talks with Google and Amazon to build the Israeli supercomputer failed, and the tender was reissued by the Israel Innovation Authority, Globes has learned that tech giant Oracle is planning to bid on the tender. Oracle already operates Israel’s largest data center for cloud-native operations, which it leases from…
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Jerusalem records Israel’s most expensive housing deals
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This year, instead of summarizing the year in the luxury housing market, Globes lists the most expensive deals in Israel’s 10 largest cities. In comparing cities, Jerusalem surprised this year by recording the largest deals in Israel, while Tel Aviv came in second place by a large margin. However, since…
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Pay in Israel’s tech sector falls
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Salaries in Israel’s technology sector, which have always been high and which we are accustomed to seeing constantly rise, will take a hit in 2024, according to a comprehensive report from recruitment firm Ethosia, which specializes in technology jobs. According to the report released today, for the first time since…
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Mergers make Matrix one of Israel’s biggest employers
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After recent mergers, an Israeli IT services and consulting company Matrix (TSX:MTRX) has become one of the largest employers in Israel with 12,500 employees, including 10,682 in Israel at the end of the third quarter. This is a larger number of employees than Intel Israel, which for many years until…
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Israel’s fiscal deficit narrows for second straight month
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Israel’s fiscal deficit decreased for the second month in a row. Finance Ministry Accountant General Eli Rotenberg reported today that the deficit in the 12 months to the end of November this year amounted to 7.7% of GDP, or NIS 150 billion. In the 12 months to the end of…
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Fortinet buys Israel’s Perception Point
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The acquisition price of the cyber company specialized in email protection is estimated at approximately $200 million. US internet company Fortinet (Nasdaq: FTNT) has made another acquisition in Israel. The company in question this time is Point of perceptionSpecialized in email security. The acquisition price appears to be around $200…
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Why Israel’s stock market is ignoring economic forecasts
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Measures of the Israeli economy present a picture that seems at odds with the uncertainty created by the security events. Tel Aviv Stock Exchange indices are rising despite weak economic growth expectations for Israel, the shekel is steadily strengthening, and demand for Israeli debt is high, despite downgrades by credit…
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Amazon, Google to compete for Israel’s supercomputer tender
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Two years after the Israel Innovation Authority began its national AI programme, it is now close to purchasing a supercomputer from one of the Israeli government’s national cloud suppliers – Amazon and Google. The budget for building the supercomputer is NIS 300 million, of which NIS 150 million will be…
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Amazon, Google to compete for Israel’s supercomputer tender
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Two years after the Israel Innovation Authority began its national AI programme, it is now close to purchasing a supercomputer from one of the Israeli government’s national cloud suppliers – Amazon and Google. The budget for building the supercomputer is NIS 300 million, of which NIS 150 million will be…
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Israel’s fiscal deficit narrows after 18 months of rises
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The Israeli fiscal deficit has shrunk for the first time since the beginning of the war. Finance Ministry Accountant General Eli Rotenberg reported today that the deficit in the 12 months to the end of October this year amounted to 7.9% of GDP, or NIS 154 billion. In the 12…