Articles by September, 2023

After overcoming a significant obstacle in the form of a teacher's union strike, an estimated 2,535,000 students from kindergarten to 12th grade are back in schools today, marking the start of the new academic year. This includes a cohort of 181,000 first-grade students, embarking on a 12-year educational journey with great anticipation

In the face of ongoing chaos in south Tel Aviv, protests against what has been termed the "legal revolution" continued this Saturday evening as part of a series of demonstrations. Despite the tumultuous events in the city, the leaders of the protest, known as "Kaplan Force," emphasized that they were in constant contact with the Israel Police to ensure the safety of the gatherings

In what should have been one of the peak seasons for Israel's hotel industry, hoteliers are now grappling with a sharp decline in occupancy rates and tourist bookings. The imposition of a vacation coupon system, long-standing high room rates, and pricing strategies that raise costs during peak seasons have all contributed to a challenging year for the industry. This trend is evident in the latest data from the Central Bureau of Statistics (CBS), which reveals a low point not seen in eight years

Over the weekend, Tel Aviv witnessed a disturbing outbreak of severe violence involving asylum seekers from Eritrea, underscoring the ongoing tensions between supporters of the Eritrean regime and its opponents. These clashes come against the backdrop of President Isaias Afwerki's lengthy rule since Eritrea declared independence in 1993. Notably, since 2011, Eritrean embassies worldwide have organized special festivals celebrating local culture, which some opponents of the regime view as a display of government power and persecution through these global embassy events

The Monetary Committee of the Bank of Israel has chosen, for the second consecutive time, to keep the interest rate steady at 4.75%. This decision aligns with market expectations and comes amid a backdrop of dwindling inflation, which dropped to 3.3% in July, juxtaposed with concerning signs of an economic slowdown

In an exciting development for fashion-conscious Israelis, the renowned British men's fashion chain, Charles Tyrwhitt, is set to make its grand entrance into the Israeli market with the opening of its first flagship store. Located in the bustling Ofer Mall in Petah Tikva, this inaugural branch is part of an ambitious expansion plan by the brand's importer, the Penguin Group, owned by businessman Eliyahu Klimer

Bank of Israel Governor Prof. Amir Yaron has announced that the country's benchmark interest rate will remain unchanged at 4.75% as the central bank grapples with persistent inflation concerns. In a recent interview, Governor Yaron emphasized the need to control inflation, particularly for the benefit of vulnerable segments of the population

Shlomo Group, a diversified Israeli conglomerate, has announced the signing of a groundbreaking agreement to sell approximately 15% of the share capital of its automotive and credit businesses. The buyer is none other than Affinity Partners, the American investment fund associated with Jared Kushner, the son-in-law of former U.S. President Donald Trump. This transaction is valued at approximately NIS 570 million, effectively valuing the Shlomo Group's vehicle and credit activities at around NIS 3.8 billion

In the first quarter of 2023, foreign investment transactions in Israel amounted to approximately $2.6 billion, marking a significant decrease of about 60% when compared to the average quarterly figures for 2020 and 2022, according to an annual summary published by the Chief Economist Division at the Ministry of Finance, led by Dr. Shmuel Abramson