Category: Israels
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J.P. Morgan cuts Israel’s growth forecast
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In its latest report on Israel, JPMorgan lowered the country’s growth forecasts for 2024 and 2025. The US investment bank expects GDP growth of 0.5% in 2024, down from its previous forecast of 1% and 3.3% in 2025, down from its previous forecast of 1% and 3.3% in 2025. 3.7%…
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Israel’s Defense Ministry sees startups as vital for war effort
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The increasing security tensions in the world have put on the agenda the need for advanced technologies in the security sector. Representatives of the Defense Research and Development Directorate (DDR&D) (MAFAT), venture capital investors and entrepreneurs of the Ministry of Defense participated in a conference dedicated to startups operating in…
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Israel’s Defense Ministry sees startups as vital for war effort
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The increasing security tensions in the world have put on the agenda the need for advanced technologies in the security sector. Representatives of the Defense Research and Development Directorate (DDR&D) (MAFAT), venture capital investors and entrepreneurs of the Ministry of Defense participated in a conference dedicated to startups operating in…
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Israel’s forex reserves fell sharply in October
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The Bank of Israel reported that Israel’s foreign exchange reserves at the end of October 2024 fell to $216.074 billion, a decrease of $4.303 billion from their level at the end of September. Israel’s foreign exchange reserves at the end of October 2024 fell to $216.074 billion, a decrease of…
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Cabinet approves Israel’s 2025 budget
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The Israeli Cabinet approved a budget worth NIS 607 billion for 2025 in addition to budget adjustment measures worth a total of NIS 37 billion. The Finance Ministry’s plans that were dropped at the last minute from the budget proposal approved by the Council of Ministers are: reducing tax benefits…
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Teva leapfrogs Check Point as Israel’s most valuable company
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Teva Pharmaceutical Industries Limited (New York Stock Exchange: Tifa; level: Tifa Once again the most valuable company in Israel. Tifa jumped Check Point Software Technologies Limited (Nasdaq: CHKP) on Wall Street after the cybersecurity company’s stock price fell due to missing third-quarter billing revenue and disappointing fourth-quarter guidance, which was…
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Teva leapfrogs Check Point as Israel’s most valuable company
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Teva Pharmaceutical Industries Limited (New York Stock Exchange: Tifa; level: Tifa Once again the most valuable company in Israel. Tifa jumped Check Point Software Technologies Limited (Nasdaq: CHKP) on Wall Street after the cybersecurity company’s stock price fell due to missing third-quarter billing revenue and disappointing fourth-quarter guidance, which was…
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Big investors leaving Israel’s real estate market
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Investors who buy large numbers of apartments are leaving Israel’s real estate market, according to an August 2024 survey conducted by the Finance Ministry’s chief economist. The survey found that although until recently these large investors completed most of the deals by investors, in August they made up 33% of…
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Israel’s fiscal deficit widens for 18th consecutive month
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Israel’s fiscal deficit has risen again for the 18th consecutive month, after reaching zero in March 2023. The deficit in the 12 months to the end of September this year reached 8.5% of GDP, or NIS 165.8 billion, the accountant said. General of the Ministry of Finance, Yali Rotenberg. I…
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Treasury plans higher tax on Israel’s wealthiest
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As part of its plans to manage the fiscal deficit in 2025, the Ministry of Finance proposes to increase the additional tax on passive income such as interest. The Ministry proposes to raise the additional tax from its current rate of 3% to 5%, and expand it to include those…
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Israel’s forex reserves again hit new record
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Israel’s foreign exchange reserves at the end of September 2024 reached a record level of $220.377 billion, an increase of $2.992 billion from their level at the end of August, which was itself a new record high, the Bank of Israel reported. The level of reserves in relation to GDP…
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Analysis-Year of war creates cracks in Israel’s borrowing strength By Reuters
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Written by Libby George, Karen Strohecker and Stephen Shear LONDON/JERUSALEM (Reuters) – For nearly a year, the Israeli economy has weathered the chaos of a war that threatens to turn into a regional conflict, but rising borrowing costs have begun to put pressure on its financial structure. The direct cost…
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Smotrich on Moody’s downgrade: Israel’s economy is strong
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Finance Minister Bezalel Smotrich gave an initial reaction last night to the downgrade of Israel’s sovereign rating by Moody’s to Baa1. In his statement, Bezalel tries to soften the blow, promising to pass the budget, hinting at planned austerity measures, perhaps in an attempt to send a signal to other…
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IATI-RISE report warns on dangers to Israel’s tech industry
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How badly has Israel’s tech industry been damaged by war over the past year? It depends on who you ask. This morning Israel Advanced Technology Industries (IATI), which also represents foreign investors and Israeli development centers for American companies, in cooperation with the RISE Institute for Policy and Research in…
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Israel’s population almost 10m on eve of 5785
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Israel’s population rose by 1.2%, or 118,000, over the past year to just over 9.9 million, the Central Bureau of Statistics reports. Israel’s population rose by 1.2%, or 118,000, over the past year to just over 9.9 million, the Central Bureau of Statistics reports. 7.689 million (78.6%) of Israel’s citizens…
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Explaining Israel’s housing market paradox
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The least significant element in the CBS housing price figures is the annual rise between July-August 2023 and July-August 2024, the most recent period for which data is available. In that year, housing prices rose by 5.8%. But the Israeli real estate market after November of last year is not…