Financial

In October, a budget deficit of approximately 3.1 billion shekels was measured, and the cumulative budget surplus in the last 12 months is reduced to 0.5% of GDP (approximately 8 billion shekels). This is according to data released today (Thursday) by the Accountant General of the Ministry of Finance, CPA Yali Rotenberg. According to the Ministry of Finance, the reason for the decrease in the annual budget surplus is also due to the postponement of tax collection estimated at 8.2 billion shekels from September 2021 to October 2021 due to the holidays. The accumulated surplus since the...

Israelis have been complaining more about the service in banks in recent years, according to the annual review of public inquiries published today by the Bank Supervision. The main complaint adds to be the quality of service in banks. In the first half of 2022, the banking supervision received 4,800 complaints and requests for information, which indicates a similar trend to 2021, during which the banking supervision received 10,200 public inquiries

The rating agency S&P points out an aspect that is happening in the Israeli economy: the lack of transparency in the non-bank credit market, which is becoming problematic in light of the growth of the sector. S&P notes that it is more complex to analyze the level of risk in the credit market in Israel, due to the growing share of non-bank credit institutions, which are not supervised by the Bank of Israel

The net profit of the aerospace industry in the nine months of 2022 jumped by 54% compared to the corresponding period last year and was about 202 million dollars. In this way, this is the most profitable period in the history of the company, which published its financial statements this morning (Thursday). Referring to the third quarter alone, the company's net profit jumped by about 135% compared to the corresponding quarter last year and amounted to about 73 million dollars

RISE, Assuta's innovation arm launched with US in collaboration with University City Science Center from Philadelphia - a program that equips startup companies to successfully break into the global health market. 101 companies applied to participate in the program, all with an emphasis on digital health solutions, computational technology, artificial intelligence and big data, from which the six most promising companies that qualified for the program were selected. Thanks to the partnership with the University City Science Center, which has accumulated 50 years of experience in introducing...

Today in the early evening the controversial World Cup will kick off despite everything, in the opening match between Ecuador and the host Qatar, at Al-Bayt Stadium in the city of Al-Khor. The decision to host the 2022 World Cup already in 2010, along with that of 2018, created a cauldron of intrigue and deals behind the scenes. A huge amount of fans from around the world are expected to come to the tournament, but Qatar does not have enough hotel rooms, which has increased the price of the existing ones. The organizers thought of several possible solutions: three luxury ships were built...

The Monetary Committee of the Bank of Israel decided to raise the interest rate in the economy by 50 basis points, from 2.75% to 3.25%. The interest rate increase will take effect later this week. This is the sixth interest rate decision in a row in which the interest rate rises in Israel. However, after in the two previous interest rate decisions the interest rate was raised at a particularly sharp rate - 0.75 percentage point - now a more moderate increase has been decided

The electricity tariff is expected to increase by 8.2% starting in January 2023. The price per kWh will rise from 49.1 EG to 53.12 EG (before VAT). Last August, the price of electricity jumped by 8.6% to a seven-year high. The main reason for the price increase is the increase in coal prices worldwide, which have increased by 140% since the beginning of the year. Another reason for the price increase is the prohibition by the Ministry of Environmental Protection to operate old power generation units at the Eshkol station powered by natural gas, which forced the increase in power generation...

The profits of New-Med Energy (formerly Delek Drilling), Yitzhak Tshuva's gas company that owns about 45% of the Leviathan reservoir, soared in the third quarter of the year. The partnership also reported record profits in the third quarter of the year thanks to record production of gas from the reservoir, and the increase in natural gas prices over the past year following the war waged by Russia in Ukraine. It recorded record profits in the third quarter of NIS 123 million. The company will distribute a dividend of NIS 50 million.

The Israeli buyers do not give up the traditional shopping days. According to the data of the clearing company Automatic Bank Services (SBA), the expenses of Israelis on credit cards amounted to more than NIS 887 million following Black Friday sales in Israel. This is a 19% increase compared to the corresponding expenses last year, which amounted to NIS 745 million. The Sheba company data refers to purchases both in the physical stores and online purchases, last Friday November 25 between the hours of 8:00 and 15:00 (opening hours of the physical stores). At the level of daily spending,...