Articles by November, 2023

In a crucial move to finance ongoing military operations, Finance Minister Bezalel Smotrich has announced the addition of NIS 13.5 billion to the 2023 budget. The decision, revealed in a letter to the Ministry of Finance, outlines a strategy to redirect a portion of coalition funds to support the war effort

At the International Monetary Fund's annual research conference, Bank of Israel Governor Yaron delivered an optimistic message about the country's economic strength and resilience in the face of ongoing challenges. Governor Yaron asserted that the Israeli economy possesses robust foundations and has historically demonstrated the ability to recover from difficult times. Despite the prevailing skepticism among economists regarding the pace of recovery, Yaron remained confident in a swift return to prosperity

In a powerful display of solidarity, thousands gathered in Tel Aviv on Saturday evening to rally for the release of individuals held captive by Hamas. Emotions ran high as family members, including Maayan Zim, whose daughter Dafna is among the abducted, took the stage to share their anguish and frustration

In a landmark move, the Director General of the Ministry of Defense, Maj. Gen. Eyal Zamir, has officially signed a contract for the sale of Israel's cutting-edge air defense system, "Kele David" (Magic Wand), to Finland. The deal, valued at 317 million euros (1.3 billion shekels), marks the first international sale of Rafael's highly acclaimed missile defense system

In a somber announcement, global credit rating agency Standard & Poor's (S&P) has projected a grim economic outlook for Israel against the backdrop of the ongoing Iron Swords War. While not issuing an immediate rating action, S&P warns of a significant downturn, predicting a negative growth of 5% in the Israeli GDP for the last quarter of 2023

Ministry of Economy shed light on concerning practices by retailers who seem to be taking advantage of the ongoing conflict. Published yesterday, the review exposes a surge in prices for various essential goods, accompanied by additional concessions that may adversely impact consumers

In a historic gathering on the iconic Mall Avenue, approximately 290,000 supporters of Israel rallied to voice their solidarity, demanding the release of hostages held by Hamas and condemning the surge of anti-Semitism in the United States. The event, named the "March for Israel," witnessed the largest Jewish gathering in U.S. history, with an additional 100,000 participating online, according to organizers

The Consumer Price Index (CPI) for October 2023 surprised analysts by increasing 0.5%, surpassing the anticipated 0.4% rise. The data, released by the Central Bureau of Statistics (CBS) today, reflects the first month of the "Iron Swords" war, defying predictions of a decrease in prices due to reduced consumption during wartime

In a significant move to address the indirect damage caused by the ongoing "Iron Swords" war, the Tax Authority in Israel has opened an online claims system for businesses. This system allows businesses nationwide to file compensation claims, taking into account the location of the business and the extent of damage incurred during the conflict

In a swift and unexpected turn of events, Nirlat, the renowned paint manufacturer from the Inrom group, has acquired Decoline for NIS 63 million, just six weeks after its main factory in Kibbutz Nir Oz, Gaza Strip, was tragically destroyed in a Hamas attack. The purchase, part of a lightning deal, aims to enable Nirlat to resume production as an alternative to its now-lost facility