Capital Market

 Tax Authority: 14,271 business reported their closure - CofaceBdi: 49 thousand were actually closed
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How is it possible that the number of businesses closing is actually declining when Israel is experiencing one of the biggest economic crises in the country's history. According to data from the business information company, CofaceBdi, between January and September 2020, 49,125 businesses were actually closed. In contrast, data from the Tax Authority show that only 14,271 business owners reported to the Tax Authority the closure of a business during this period. According to CofaceBdi, in July and August the number of businesses that ceased operations increased sharply (87% and 99%,...

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Oct 15, 2020

"The consequences of the corona crisis will accompany the Israeli economy for a long time
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The consequences of the corona crisis and how it will be managed will continue to accompany the Israeli economy for a long time. In 2021, a further contraction in the economy, a mass closure of businesses and an increase in the number of high-risk businesses were forecast. The main victims will be small and new businesses, and those that have rejected loan repayments to banks. This all comes up in a review conducted by business information firm Dun & Bradstreet for TheMarker newspaper. The review shows that 2021 is expected to be the second consecutive year in which the economy has shrunk,...

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Oct 22, 2020

The second closure interrupted the recovery process of the Israeli economy in Q3
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The second closure interrupted the recovery process of the Israeli economy in the third quarter of the year. This emerges from the Bank of Israel's membership survey published on Monday. Although activity in the economy continued to shrink from July to September, the recovery from the peak of the corona crisis was felt in the economy. The survey shows that the balance sheet of the business sector improved in the third quarter but remained at a very negative level. Although the balance of output in manufacturing recovered in the third quarter, it remained negative. The negative balance...

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Oct 27, 2020

The deficit continues to worsen: stood at 10.1% in October and amounts to NIS 137.1 billion
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The deficit in the economy continues to worsen against the background of the corona crisis, and stood at 10.1% in October - compared with 9.1% in September. The cumulative deficit in the last 12 months (January-October) stands at NIS 137.1 billion, compared with a deficit of NIS 37.8 billion in the corresponding period last year. According to the Accountant General, a deficit of NIS 20.3 billion was measured in October, compared with NIS 6.7 billion in October last year

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Nov 5, 2020

"If a Corona vaccine will be available in Israel by mid next year - growth will amount to 5%"
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"If the vaccine for Corona is available in Israel in the middle of 2021 - growth in Israel in the coming year will be relatively positive, at a rate of 4.8%. But in a continuing morbidity scenario - growth will reach only 2.2%, which is close to zero per capita growth. This first forecast, since yesterday's announcement by Pfizer about the success of its vaccine trial for Corona, was made today (Tuesday) by the chief economist at the Ministry of Finance, Shira Greenberg. This is in the context of presenting the macroeconomic situation of Israel, against the background of the corona crisis,...

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Nov 10, 2020

IKEA: We delay the opening of our branches due to resistance by the health mministry
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The opening of IKEA branches on Wednesday is questionable: Hours after the Swedish furniture chain announced yesterday that it would open all branches today, the Ministry of Health announced that it would not allow it. 'The Ministry of Health did not give permission for the shops to open. The ministry's position is that a furniture store, including IKEA, is not a place whose main business is selling essential products for home maintenance, "the ministry said. In the IKEA environment, it is said that the Ministry of Health does not have the authority to determine this, and the chain's...

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Nov 10, 2020

American retail giant 7Eleven on its way to Israel to bite into the convenience store market
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American supermarket giant 7Eleven on its way to Israel. The chain is in talks with Electra Consumer, which is controlled by the Zalkind family, to hand over a franchise in which a Fox partner controlled by Harel Wiesel is expected to be a partner. The American company will try - with the help of the Israeli partners - to quickly bite into a share of the Israeli convenience store market, which has a turnover of about NIS 10 billion a year and enjoys growth, according to people close to the negotiations. After the negotiations between the parties were exposed in the media, Fox (-2.05%...

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Nov 17, 2020

Consumer confidence in the Israeli economy continues to recover slowly: Index stood at minus 22%
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Consumer confidence in the Israeli economy continues to recover slowly: in the first half of November the index stood at minus 22%, while in the second half of October the index stood at minus 26% and in the first half of October, during the second closure, consumer confidence stood at minus 32%. This emerges from a public trust survey published by the Central Bureau of Statistics. However, the negative value of the index indicates that consumers in Israel are still cautious when it comes to economic stability. The consumer confidence index is in the range of minus 100 and plus 100. The...

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Nov 21, 2020

 Supervisor of Banks is promoting an outline for deferring debts in respect of loans and mortgages
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The Supervisor of Banks is promoting a new outline for deferring debts in respect of consumer loans and mortgages. In the current situation a borrower who was interested in a deferral received it from the banks automatically with the help of principal payments of the debt in respect of consumer loans and mortgages. According to the outline, it appears that there will be no sweeping postponement of payments - and from now on it will be done differentially

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Nov 23, 2020

Concern: mortgage repayments of tens of thousands who went on unpaid leave exceed half their income
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The Ministry of Finance's chief economist's examination of the economic situation of the victims of the economic crisis raises concerns that the mortgage repayments of tens of thousands of households who bought an apartment in the past five years and went on unpaid leave exceed half their income. Assuming a fixed and unlinked average interest rate of 3.2% for a repayment period of 30 years, it is obtained that the monthly repayment of households that purchased a first apartment in 2019 and were expelled from the Knesset amounts to NIS 3,900. Was 23% on average, and in the two lowest...

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Nov 26, 2020

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