Articles by December, 2023

In a significant move, the government has given the green light to a comprehensive plan for the rehabilitation and development of settlements surrounding Gaza and Sderot. The strategic five-year plan, devised by the Takuma administration, addresses key areas such as education, infrastructure, business, and agriculture, with a budget exceeding NIS 18 billion

In a groundbreaking development today, the Israel Electric Corporation (IEC) finalized the sale of the Eshkol power station to "Dalia Energy" and George Horesh's "Union" group for an impressive NIS 9 billion. This marks one of the largest deals in the nation's economy, with the exact amount, 9,001,181,818 NIS, set to be transferred to the Electric Company upon the completion of the transaction, expected within the next 5-6 months

US Army's Central Command reported that the commercial tanker "STRINDA" was targeted in the Red Sea by what is believed to be an anti-ship cruise missile. The attack occurred approximately 100 kilometers north of the Bab al-Mandab strait, an area controlled by Houthi rebels in Yemen. The vessel was en route through the strategic strait when the incident unfolded

In a daring mission in the Gaza Strip, the Israel Defense Forces (IDF) successfully rescued the bodies of two abductees, Aden Zakaria (27) from Rishon Lezion and RSV Ziv Dado (36) from Rehovot, from a tunnel. The operation also resulted in the elimination of Ahmed Randor, a key figure in Hamas's Northern Gaza Brigade

Israel experienced a significant downturn in its economic landscape in 2023, as reported by leading financial services firm PwC. The total value of transactions, mergers, and acquisitions plummeted by an alarming 46%, reaching a meager $9.8 billion compared to the robust $18 billion recorded in 2022. These figures mark the lowest in the past decade, excluding 2014 when the total transactions amounted to $7.2 billion

The latest data from the Central Bureau of Statistics underscores the severe challenges faced by the real estate sector, pointing to a historic low in new apartment sales. In October, amidst the outbreak of war, a mere 930 new apartments were sold, with only 89 benefiting from government housing programs and discounted rates per resident

In a promising development for Israel's aviation sector, the Lufthansa Group, a global aviation giant, has officially announced the resumption of flights to Israel starting January 8, 2024. This marks a significant step towards the recovery of international air travel in the region after disruptions caused by the recent conflict

In October, Israel's official unemployment rate stood at a seemingly low 3.0%, reflecting 133,000 unemployed individuals. However, the recent conflict has drastically altered the employment landscape, leading to a surge in job losses. Despite the reported decrease to 3.4% in the previous month, the true impact reveals a different story

In a significant move to bolster its budget for 2024, the Ministry of Finance in Israel is contemplating the cancellation of the longstanding VAT exemption on purchases from abroad. The 17% automatic discount on overseas acquisitions is set to expire soon, marking a potential shift in taxation policy. This decision is part of broader efforts to tighten financial belts and raise taxes, but it has sparked a heated debate among stakeholders

The Israel Defense Forces (IDF) has released the names of three soldiers who lost their lives in battles in the northern Gaza Strip. Sergeant Lavi Gihassi, 19, from Hasmonaim, served in Battalion 931, Nahal Brigade. Lieutenant Yaakov Elian, 20, from Ramat Gan, and Lieutenant Omri Shortz, 21, from Shemod Deborah, both cadets in the 'Gefen' Battalion, officers' school, fell in separate clashes