Articles by August, 2023

In a show of ongoing defiance, protesters gathered in cities across Israel for the 32nd consecutive week to voice their dissent against the legal revolution that has shaken the nation's political landscape. Tens of thousands of demonstrators participated in the rallies, marking the continuation of what has become a defining weekly event in the country.

The cost of managing current accounts and holding credit cards saw a noticeable uptick in 2022, with the average expense per current account reaching NIS 26.9 per month, marking a NIS 2.3 per month surge from the previous year. This data comes from a recent periodic report that scrutinized the fees incurred by households and small businesses, issued under the oversight of the local banks

The Ministry of Education in Israel is grappling with a dire shortage of qualified teachers as the upcoming school year approaches. The situation, termed a "quality shortage" by officials, reveals a significant gap in professional educators, particularly in science, mathematics, and language subjects. Despite official reports highlighting a shortage of 2,800 teachers, the true deficit exceeds 30,000 teachers who possess appropriate training. This scarcity is set to disrupt schools, leading to class cancellations and overcrowded classrooms

Ministry of Economy and Industry faced difficulties in recruiting businessmen to accompany Minister Nir Barkat on his official trips to Vietnam and Singapore. The businessmen's reluctance stems from their protest against the government's recent coup d'état, of which Barkat's government is a part. Barkat's first stop is Vietnam, where he is scheduled to depart tomorrow for a four-day visit. During his stay in the capital city, Hanoi, he will actively participate in economic forum discussions, tour various industrial plants across the country, and partake in a celebratory reception at the...

Partner, a prominent player in the telecommunications sector, showcased its ability to adapt and excel amidst challenging market dynamics, as it reported its financial results for the second quarter of 2023. The company's strategic shift towards premium products and a reduction in debt emerged as key drivers behind its successful performance

Despite a slew of negative economic indicators, the unemployment rate in Israel has managed to maintain its favorable position, according to data released by the Central Bureau of Statistics. The unemployment rate dropped even further in July, reaching an impressive 3.4%, a slight decline from June's rate of 3.5%. This equates to 155.5 thousand unemployed individuals, compared to 158.1 thousand the previous month

Israeli software company Monday has solidified its position as one of the standout success stories on Wall Street. The company's trajectory began with its 2021 IPO, where it stood out as one of the few to trade above its initial public offering (IPO) value. The momentum has persisted as Monday consistently exceeded forecasts, leading to rapid growth in the second quarter. The company's stock recently surged by 10%, pushing its market value to approximately $8.3 billion

Consumer Price Index (CPI) for the month of July rose by 0.3%, slightly lower than early forecasts had anticipated. This increase in the index has led to a sharp decline in the annual inflation rate over the past 12 months, now standing at 3.3%. This decline is bringing the inflation rate closer to the target range set by the Bank of Israel, which aims for an inflation rate between 1% and 3%

Israel's economy exhibited resilient growth in the second quarter of 2023, with significant implications for the remainder of the year. reported Central Bureau of Statistics (CBS). The data, reflecting a 3% annual growth in Gross Domestic Product (GDP) and a 1.1% increase in GDP per capita compared to the first quarter of the year, point toward a potential annual growth rate of around 3% if the trend continues

In a surprising turn of events, Intel Corporation has announced the cancellation of its planned acquisition of Tower Semiconductor, an Israeli company specializing in the development and production of semiconductors and integrated circuits. The proposed deal, valued at $5.4 billion, was a critical component of Intel CEO Pat Gelsinger's strategy to expand the company's presence in the semiconductor industry