Articles by October, 2023

Israeli High-Tech Faces Severe Decline in Investments  - A staggering 40% decrease in Q3
679 Views Details

by Ifi Reporter

Category: Hitech

A recently published report by the Research and Policy Institute SNPI has revealed a concerning trend in the Israeli high-tech sector. The third quarter of 2023 saw investments amounting to a mere $1.7 billion, marking a staggering 40% decrease compared to the same period in 2022. This decline represents the seventh consecutive quarter of diminishing investments, a far cry from the booming period that peaked in late 2021 when investments reached $9.3 billion

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Oct 1, 2023

Fintech Firm Bizzy Reveals Alarming Trends in Small Business Credit Usage and Costs
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In a recent inspection conducted by the fintech company Bizzy during the first quarter of 2023, concerning the financial health of small businesses in Israel, startling revelations have emerged. The inspection, which encompassed nearly 1,000 bank accounts representing approximately 800 small businesses, has shed light on the critical role of credit lines, their utilization, and the associated costs

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Oct 1, 2023

NICE Expands AI Capabilities with $3.74 per Share Acquisition of LiveVox for 350 million dollars
1001 Views Details

by Ifi Reporter

Category: Hitech

NICE, a prominent developer of software systems for customer service centers, fraud prevention, and money laundering detection, has strategically invested $1.7 billion in cash to bolster its AI capabilities and broaden its customer base. This move is set to not only enhance its market position but also allay concerns within the industry about the potential impact of advanced AI technologies like ChatGPT on NICE's future growth prospects

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Oct 4, 2023

Israeli Teva Partners with French Giant Sanofi to Develop Promising Autoimmune Disease Drug
401 Views Details

by Ifi Reporter

Category: Law

Teva, the Israeli pharmaceutical company managed by Richard Francis, has announced a strategic collaboration with the French pharmaceutical giant Sanofi. This partnership marks a crucial step for Teva in realizing the potential of its most promising drug, TEV-48574, aimed at treating autoimmune diseases of the digestive system, including Crohn's disease and ulcerative colitis

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Oct 4, 2023

Supreme Court Pressured Tel Aviv Municipality to Allow "Second Laps" Event in Dizengoff Square
886 Views Details

by Ifi Reporter

Category: Law

The Supreme Court of Israel discussed the appeal of the "Jewish Head" association against the Tel Aviv Municipality's decision to deny permits for their "second laps" event. The event was planned to take place on the eve of a holiday in Dizengoff Square, Tel Aviv. During the hearing, the Supreme Court judges criticized the municipality's decision and urged both parties to reach a compromise

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Oct 6, 2023

 Foreign Airlines Cancel Flights Amid Security Concerns Stranding Israelis Abroad and tourists here
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by Ifi Reporter

Category: Government

In the midst of a challenging security situation, foreign airlines are canceling numerous flights to and from Israel, leaving many Israelis stranded abroad. Lufthansa, Swiss Air, Wise Air, Turkish Airlines, and Lot Polish Airlines are among the carriers that have already suspended their services. As a result, Israeli airlines are grappling with a surge in demand for available seats on their flights

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Oct 6, 2023

 Tel Aviv Stock Exchange Plummets as Conflict Escalates Economic Uncertainty Looms
386 Views Details

by Ifi Reporter

Category: Financial

In the wake of a devastating terrorist attack against Israel and Prime Minister Benjamin Netanyahu's declaration of war against Hamas, the Tel Aviv Stock Exchange witnessed a grim start to the trading week. The leading indices suffered significant declines, with Tel Aviv 35 falling by 6.47%, Tel Aviv 125 by 6.69%, and A 90 by 7.86%. The bank index experienced a staggering drop of 8.7%. The opening of the stock exchange was delayed by 10 minutes due to the rapid decrease in values before trading began

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Oct 8, 2023

Wall Street Journal:  Iranian Quds Force Implicated in Planning Recent Gaza Attack on Israel
353 Views Details

by Ifi Reporter

Category: Government

Wall Street Journal has reported on the alleged involvement of the Quds Force of the Iranian Revolutionary Guards in planning the recent attack on settlements surrounding Gaza. Citing sources within Hamas and Hezbollah, the newspaper claims that representatives from these organizations have been meeting with Quds Force members since August

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Oct 8, 2023

 Israel Bank plans to sell $30 billion of its foreign exchange reserves Amid Security Crisis
366 Views Details

by Ifi Reporter

Category: Financial

Bank of Israel has revealed plans to sell up to $30 billion of its foreign exchange reserves in response to the ongoing security crisis. This marks the first time such a move has been made since the initiation of free trading in the exchange rate. The announcement came even before trading in the dollar opened, aimed at preemptively addressing potential market overreactions

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Oct 9, 2023

Finance Ministry Criticizes Government's Handling of "Iron Swords" War -  Foresees Budget Deficit
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In the wake of the ongoing "Iron Swords" war, the Ministry of Finance has announced plans to allocate billions of shekels to finance the conflict. Finance Minister Bezalel Smotrich has expressed concerns about the government's delayed response in addressing budgetary needs during the crisis

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Oct 9, 2023

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