Financial

The Bank of Israel has raised the interest rate the sharpest way in 11 years at a rate of 0.5 percent so that the interest rate in the economy rises from 0.75% today to 1.25%. According to a survey by the economic information company Bloomberg, 15 out of 17 economists from financial institutions in Israel and abroad thought that the Bank of Israel would take an aggressive step to curb inflation and raise interest rates by 0.5 percentage points. The interest rate increase is expected against the background of inflation, which accelerated to 4.1% in May

The average wage in public bodies increased slightly in 2020 compared to the increase in the average wage in the economy, but still senior officials in several public bodies earned tens of thousands of shekels a month each - much more than the average wage. Women fill only about 30% of the positions of high-ranking officials and wage earners. This is compared to 27% in the years 2015 to 2019. Gender pay gaps decreased by 0.7% in the five years to 2020 and by only 0.1% in 2020 and stood at 35% in favor of men's wages. Excluding officials and high-wage earners, the gender pay gap was 22%.

After a long period of internal struggles at the airline that led to the cancellation of over 100 flights since the last Independence Day, the current saga seems to have come to an end. El Al reported on Sunday to the Tel Aviv Stock Exchange that an agreement had been signed between it and the Histadrut and the pilots' committee, which will apply immediately by the end of 2025. The company stated that "as of this date, the company cannot assess the effect of signing the agreement on its business results." After the report: El Al shares rise by about 10%

The rise in electricity prices by close to 10 percent next month is expected to lead to price increases in the range of products and services in the economy. A conservative estimate is that the current rise in the price of electricity, an expensive basic product in the consumption basket of an Israeli family, will add about NIS 40 a month to its expenses, which is about NIS 500 a year. In announcing the hearing of the price increase, the Electricity Authority explained the reasons for the increase, the main of which is the sharp rise in coal prices, at a rate of more than 140%, according...

Prime Minister Yair Lapid and Economy Minister Orna Barbibai announced on Monday evening that they had agreed on a more moderate and gradual increase in the price of bread. The price of the uniform sliced ​​bread will increase by 5.5% instead of 11% as previously planned. The price of challah will increase by 8% instead of 21% and the price of flat bread will increase by 5% instead of 36%. Another increase in price will take place in the month of December, when the price of the uniform sliced ​​bread and the price of challah will increase as determined by the price committee, while the...

Sanctions on one of the two largest banks in Israel. All Bank Hapoalim branches across the country will be shut down tomorrow until 11:00 a.m. in protest of the violence and burdens faced by the workers, according to the workers' organization. Therefore, there will be no public reception tomorrow (Wednesday) and no telephone answers will be given until 11:00 at all bank branches, counseling centers, and the call center. The unionized workers in the Histadrut have not declared a labor dispute so far and claimed in a conversation with Ynet that these are protest measures that do not require...

The price of electricity will increase this Monday at a rate of 8.6%, one percent less than the original decision of the Electricity Authority. This means that the price of electricity will increase on average for a family in two months by about 86 shekels, which is 43 shekels per month and more than 500 shekels per year. The Electricity Authority announced the final price on Wednesday evening after holding an oral hearing procedure for the main parties who challenged the decision to raise the price of electricity at such a high rate, led by the Association of Manufacturers, whose leaders...

Continuing the fight against the cost of living: many dozens demonstrated at noon in front of the house of diplomat CEO Noam Weiman in jubilation, with the aim of protesting the cost of living and demanding to prevent further price increases. This is a demonstration that is the first swallow of going out into the field and a wake-up call to the food and marketing companies that the public has woken up and is not ready to pay more for the price of pigs. The representatives of the Histadrut, activists and ordinary citizens participate in the demonstration. The activists called for the...

Enterprise video solutions company Kaltura reports that it has received a purchase offer at a value of $383 million, a 27% premium over the last closing price on Wall Street. The potential buyer is a competitor of Kaltura called Panopto, which already at the beginning of June announced its intention to buy Kaltura. Earlier this month, it already put a concrete offer on the table, but Kaltura for its part only disclosed the contacts now, when the offer was improved, and more importantly - when Panopto's partner in the move, the K1 Foundation, became an interested party in Kaltura and left...

After six consecutive months of increases, fuel prices will drop sharply tonight at midnight - according to the Ministry of Energy announcement. The decrease is recorded following the drop in oil prices in the world in the last month, and after last week the Ministry of Finance published an order that expands the reduction of the excise tax on fuel to NIS per liter. The order that reserves the reduction of the excise tax on fuel will be in effect until the end of the month, after which it will be possible to extend it