Articles by August, 2023

In a move that has sparked controversy and accusations of curbing the freedom of protest, Chief Avi Biton, the commander of the Central Police District, has imposed restrictions on demonstrations near the homes of ten members of the Knesset and ministers. The restrictions were implemented to address concerns raised during a government meeting about the lack of enforcement during protests near ministerial residences and following requests from members of the Knesset to limit demonstrations outside their homes

Solaredge, a leading manufacturer of solar panel converters and power amplifiers, disappointed investors with a weak forecast for its revenues and profitability in the third quarter of 2023. As a result, its shares plummeted by 12% in late trading. The company reported earnings of $120 million, equivalent to $2.12 per share based on US GAAP, for the second quarter of 2023. This was a decline from the $138 million profit in the first quarter of the year and $15 million in the same quarter in 2022.

In its semi-annual financial stability report, the Bank of Israel has issued a warning regarding potential adverse effects on Israel's economy in the medium term. The report highlights two main factors impacting the country's financial system: the continuous tightening of monetary policy through interest rate hikes, and a slowdown in global economic growth alongside difficulties in the global banking system

The high-tech sector in Israel witnessed a concerning nominal decrease in average salaries during May, according to recently published data by the Central Bureau of Statistics (CBS). The average salary in the high-tech sector dropped to NIS 28,031 per month in May, down from NIS 29,219 in April. This decrease in wages may reflect the ongoing impact of the high-tech crisis, which has been exacerbated by a sharp decline in investments this year

Citibank Lowers Growth Forecast for Israel's Economy Amidst Political Uncertainty. In a recent report, American bank Citibank revised its growth forecast for the Israeli economy for 2023 and 2024, attributing the downturn to a drop in investments following a planned coup d'état of the government

Oppenheimer, known for its strong research department, has maintained an "outperform" recommendation for Amdocs (DOX) stock while raising its target price from $99 to $109. The decision comes after Amdocs posted strong fiscal third-quarter results, showcasing annual revenue growth of 6.9% at constant exchange rates. Although the growth rate slightly decelerated compared to the previous quarter, the company remains strategically well-positioned in the cloud services sector, particularly among leading telecom companies undergoing digital transformation

A tragic terrorist attack: On Montefiore Street in Tel Aviv on Saturday afternoon unfolded a tragic incident when Chen Amir, a 42-year-old municipal security patrol officer (SLA), was mortally wounded in a shooting attack. The assailant, identified as Kamal Abu-Bakar, 22, opened fire on Chen and his patrol friend after arousing their suspicion. Chen Amir, a resident of Bat Yam and originally from Kibbutz Re'im in the Eshkol region, displayed tremendous courage during the incident. Despite being critically injured, he was rushed to Ichilov Hospital while receiving CPR. Tragically, the...

The Automated Bank Services Company has released its data on credit card expenses for the month of July, revealing a remarkable surge of approximately 6.2% compared to the same period last year. With credit card spending reaching an impressive NIS 41.17 billion, July has claimed its spot as the second-highest month of the year for credit card expenditure

The "White Doctor's Coats" protest, which brings together workers in the health system who oppose the regime coup and includes thousands of doctors, announced that if the government does not comply with the High Court ruling, its members will not report to work in the hospitals. "We declare that in a situation of the constitutional crisis, we will not be forced to report to work until the government returns to respecting the rulings of the Supreme Court," they wrote in a statement

The American company Rubrik announced the purchase of the Israeli cyber startup Laminar. The amount of the purchase is estimated at 200-250 million dollars. According to the announcement, Laminar will continue to operate from its offices in Tel Aviv and will form the basis for Rubric's R&D center in Israel