Financial
by Ifi Reporter
Category: Financial
In the wake of a devastating terrorist attack against Israel and Prime Minister Benjamin Netanyahu's declaration of war against Hamas, the Tel Aviv Stock Exchange witnessed a grim start to the trading week. The leading indices suffered significant declines, with Tel Aviv 35 falling by 6.47%, Tel Aviv 125 by 6.69%, and A 90 by 7.86%. The bank index experienced a staggering drop of 8.7%. The opening of the stock exchange was delayed by 10 minutes due to the rapid decrease in values before trading began
Oct 8, 2023
by Ifi Reporter
Category: Financial
Bank of Israel has revealed plans to sell up to $30 billion of its foreign exchange reserves in response to the ongoing security crisis. This marks the first time such a move has been made since the initiation of free trading in the exchange rate. The announcement came even before trading in the dollar opened, aimed at preemptively addressing potential market overreactions
Oct 9, 2023
by Ifi Reporter
Category: Financial
Bank of Israel has unveiled a comprehensive plan aimed at providing financial relief to the public in the wake of ongoing regional conflict. This plan, set to be in effect for at least three months, divides the population into two groups with varying levels of support
Oct 15, 2023
by Ifi Reporter
Category: Financial
Since the outbreak of the war, nearly 7,000 foreign workers have left Israel, posing a significant challenge to the country's labor force. According to data collected by the Administration of Foreign Workers at the Population and Immigration Authority, the departure of foreign workers is affecting various sectors of the economy
Oct 21, 2023
by Ifi Reporter
Category: Financial
Hundreds of terrorists from Hamas and Islamic Jihad underwent advanced training in Iran just weeks before orchestrating a devastating attack on Israel. While this training was led by officers from Iran's Quds Force of the Revolutionary Guards, there is no concrete evidence suggesting that Iran specifically prepared these militants for the attack on Israel
Oct 25, 2023
by Ifi Reporter
Category: Financial
In response to the ongoing "Iron Swords" war, Israel's Finance Minister, Bezalel Smotrich, and Defense Minister, Yoav Galant, have unveiled a comprehensive financial aid package aimed at supporting the nation's reserve officers and those affected by the conflict. This financial relief package, contingent upon government approval, includes a range of benefits to ease the economic burdens resulting from the war
Nov 2, 2023
by Ifi Reporter
Category: Financial
As the fifth week of fighting continues in the region, Israel is facing a high level of uncertainty on the military front, while the home front shows signs of adjusting to a new normal. Despite the ongoing conflict, there has been a notable increase in credit card purchases in the past two weeks, although they remain approximately 20% lower than pre-war levels. Traffic on the roads has also resumed with a partial return to school
Nov 5, 2023
by Ifi Reporter
Category: Financial
In a somber announcement, global credit rating agency Standard & Poor's (S&P) has projected a grim economic outlook for Israel against the backdrop of the ongoing Iron Swords War. While not issuing an immediate rating action, S&P warns of a significant downturn, predicting a negative growth of 5% in the Israeli GDP for the last quarter of 2023
Nov 13, 2023
by Ifi Reporter
Category: Financial
In a swift and unexpected turn of events, Nirlat, the renowned paint manufacturer from the Inrom group, has acquired Decoline for NIS 63 million, just six weeks after its main factory in Kibbutz Nir Oz, Gaza Strip, was tragically destroyed in a Hamas attack. The purchase, part of a lightning deal, aims to enable Nirlat to resume production as an alternative to its now-lost facility
Nov 19, 2023
by Ifi Reporter
Category: Financial
Moody's, the prominent credit rating agency, has declared that it is placing the Israeli government's credit rating under review for a potential downgrade. This announcement comes in the wake of the recent outbreak of war in the region, and it closely follows a similar decision made by Fitch, another credit rating company
Nov 20, 2023