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Category: Israels

  • Mizrahi Tefahot posts highest Q2 ROE among Israel’s banks

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    Investor Empires

    Mizrahi Tefahot Bank, Israel’s third-largest bank, reported a net profit of NIS 1.45 billion in the second quarter, up 3.4% from the same quarter in 2023. Mizrahi Tefahot is the second bank to report an increase in profits on an annual basis, after Bank Hapoalim. Discount Bank and Bank Leumi…

  • Fitch cuts Israel’s credit rating with negative outlook

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    Investor Empires

    Fitch Ratings announced last night that it has downgraded Israel’s credit rating from A+ to A with a negative outlook. Fitch’s downgrade of Israel’s credit rating follows a similar move by the other two major international credit rating agencies – Moody’s and Standard & Poor’s. In its announcement, Fitch said:…

  • Israel’s fiscal deficit widens to 8.1% of GDP

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    Investor Empires

    Israel’s fiscal deficit continued to widen in July, reaching 8.1% of GDP over the past 12 months, or NIS 155.2 billion, according to Finance Ministry General Accountant Yali Rotenberg, up from 7.2% of GDP at the end of May. The fiscal deficit has grown in each of the past 16…

  • Israel’s forex reserves rise sharply

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    Investor Empires

    Israel’s foreign exchange reserves rose from $204.665 billion to $213.634 billion over the past 12 months, slightly below the record foreign exchange reserves of $213.731 billion in March 2024. The Bank of Israel reported that Israel’s foreign exchange reserves at the end of July 2024 amounted to $213.634 billion, an…

  • Israel’s top percent pays less tax in proportion to income

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    Investor Empires

    The total income of the top percentage of the wealthy in Israel between 2013 and 2021 amounted to about 100 billion shekels annually, according to a study conducted by the Israel Tax Authority. The study found that the top percentage of the wealthy receive 13.2% of the total income and…

  • Israel’s top percent pays less tax in proportion to income

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    Investor Empires

    The total income of the top percentage of the wealthy in Israel between 2013 and 2021 amounted to about 100 billion shekels annually, according to a study conducted by the Israel Tax Authority. The study found that the top percentage of the wealthy receive 13.2% of the total income and…

  • Budget delay, canceling VAT hike jeopardize Israel’s credit rating

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    Investor Empires

    The Finance Ministry is busy preparing the state budget for 2025, but the work is getting more complicated every day. While the ministry’s top officials are trying to promote a balanced financial plan to deal with high defense spending, politicians, led by Prime Minister Benjamin Netanyahu and his economic adviser,…

  • Check Point becomes Israel’s most valuable company

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    Investor Empires

    Wall Street investors have responded positively to the appointment of Nadav Zafrir as the new CEO of the veteran Israeli cybersecurity company. Wall Street investors responded positively to the appointment of Nadav Zafrir as the new CEO of Check Point Software Technologies Co., Ltd. (NASDAQ: CHKP), where the stock is…

  • Shlomo Dovrat: Israel’s technological standing is at risk

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    Investor Empires

    “Israel entered the crisis of judicial reform and the war in a good position, but its economic standing and the position of the engine of the economy, the Israeli technology sector, are at risk,” Shlomo Dovrat, co-founder of the investment firm Viola Group and head of the Aaron Institute for…

  • Gov’t cuts programs to promote inclusivity in Israel’s tech industry

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    Investor Empires

    As the war continues and the budget deficit widens, hundreds of cuts to Israel’s state budget include programs to increase employment opportunities for Arab, Druze and Haredi communities in the technology industry. The programs reduced by the Ministry of Economy and Industry include subsidizing the wages of Haredi, Arab and…

  • “Globes” ranks WhatsApp as Israel’s top 2024 brand

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    Investor Empires

    Global brand WhatsApp has been named the best brand of 2024 in Globes’ annual brand index, beating out major brands like Google, Netflix, Coca-Cola and Bamba. The brand has always been more than just a messaging app, owned by Meta. It’s a social network used by 98% of Israelis, according…

  • Investors returning to Israel’s housing market

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    Investor Empires

    May 2024 saw the highest number of home purchases by investors since the purchase tax for owners of multiple residences (two or more homes) was raised. For the first time since 2022, investors are buying more homes than they are selling, according to a survey of residential real estate activity…

  • Morocco becomes huge customer for Israel’s defense industry

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    Investor Empires

    yesterday Israel Aerospace Industries Israel Aerospace Industries (IAI) has announced a $1 billion, five-year deal with an unnamed third party. Foreign media reported that the deal relates to satellites first announced last year. The presence of IAI CEO Amir Peretz in Morocco when the deal was announced also bolstered the…

  • Israel’s fiscal deficit widens further

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    Investor Empires

    The fiscal deficit reached 7.6% of GDP over the past 12 months, according to Finance Ministry Accountant General Yali Rothenberg. According to the Finance Ministry’s General Accountant Yali Rotenberg, Israel’s fiscal deficit widened further in June, reaching 7.6% of GDP over the past 12 months, or NIS 146 billion, up…

  • Israel’s forex reserves fell in June

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    Investor Empires

    The Bank of Israel reported that Israel’s foreign exchange reserves amounted to approximately $210.278 billion at the end of June 2024, a decrease of $232 million from their level at the end of May. The Bank of Israel reported that Israel’s foreign exchange reserves at the end of June 2024…

  • Geopolitics: Head of Israel’s Mossad returned from Doha after initial cease-fire meetings

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    Investor Empires

    High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…

  • Israel’s Defense Ministry spending NIS 30b on local procurement

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    Investor Empires

    Since the start of the war in October, the Israeli Ministry of Defense has spent NIS 30 billion, including value-added tax, on domestic purchases, according to information from the Defense Ministry’s Production and Procurement Department, seen by Globes. More than half of this amount was spent on defense equipment, ammunition…

  • Will rash of new medical schools solve Israel’s doctor shortage?

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    Investor Empires

    In recent years, academic institutions in Israel have rushed to open medical schools. Over the past few months, the University of Haifa and the Weizmann Institute have announced that they will open schools, joining Ariel University, which opened a medical school in 2019, and Bar-Ilan University, which did so a…

  • Israel’s fiscal deficit widens to 7.2%

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    Investor Empires

    Israel’s fiscal deficit continued to widen in May, reaching 7.2% of GDP over the past 12 months, or NIS 137.7 billion, according to Finance Ministry Accountant General Eli Rotenberg, compared to 6.9% of GDP. At the end of April. The fiscal deficit target for the end of 2024, as set…

  • Israel’s forex reserves back on the rise

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    Investor Empires

    Israel’s foreign exchange reserves at the end of May 2024 amounted to $210.508 billion, an increase of $2.399 billion from their level at the end of April, the Bank of Israel said. Israel’s foreign exchange reserves at the end of May 2024 amounted to $210.508 billion, an increase of $2.399…