Capital Market

About three weeks ago, another round of locked-in profits ended, which resulted in tax revenues of NIS 2.9 billion, contrary to the forecast given at the end of 2021, which was only about NIS 1 billion. The operation was designed to deal with the problem created by the early version of the Capital Investments Encouragement Law, which resulted in companies locking up profits and not distributing them in order to avoid paying taxes

The struggle of the Lahavim plant in Galilee, which Pratt & Whitney wants to close and lay off 900 workers, is intensifying. The parent company wishes to transfer the activity of the distributor to the United States. The storm of layoffs and the closing of the plant in the north reached the finance committee in the Knesset: Martin Beaulieu, the vice president for operations strategy at the American company claimed that they did not find a buyer and that the plant lost 700 million dollars and will continue to lose until the closure. The Histadrut representative rebuffed him: "They want to...

Bank of Israel Governor Amir Yaron and Bank Supervisor Yair Avidan granted a bank license and permits to control the bank - which will be called Ash Israel Bank. Bank entrepreneurs Yuval Aloni, Nir Tsuk, Alex Liberant and Alon Shay received the permit. Prof. Shmuel Hauser, former head of the Israel Securities Authority, will serve as chairman of the bank. This is the second license given to a new bank in the system within a period of three years. The receipt of the control permits and the conditional bank license will allow the entrepreneurs to move forward and complete the mechanical,...

Last night (Monday) a first working meeting was held at the Prime Minister's Office between Benjamin Netanyahu and Minister Bezalel Smotritz. In part, their individual advisors participated, but for an entire hour Netanyahu and Smotrich sat alone and discussed the state of the economy face-to-face and made a first assessment of the situation in relation to the economic measures to be taken in the areas of rising prices in the economy and rising apartment prices. For the first meeting, the senior finance officials were not invited, including CEO Ram Blinkov, head of the budget department...

The investors are disappearing, the apartment buyers are sitting on the fence, the supply of subsidized apartments has decreased, and on the streets you can already feel the drop in prices. This is according to the review of the real estate market in November, published by the chief economist at the Ministry of Finance. The declines in apartment sales and the signs of the approaching crisis in the industry - which began already in the middle of last year - have so far not affected the price indices of the apartments which continued to rise, at least until last September. The main factor...