Financial

Bank of Israel Governor Signals No Interest Rate Cuts Until Late 2025 Amid Economic Uncertainty
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The Bank of Israel is unlikely to lower its interest rate shortly, despite expectations of rate reductions in other countries, including the United States and the Eurozone. The central bank recently maintained the interest rate at 4.5%. In an interview with Ynet, Bank of Israel Governor Prof. Amir Yaron indicated that reducing the basic interest rate is improbable even within the first two quarters of 2025, given the current economic and geopolitical situation

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Aug 28, 2024

Fresh Ground Beef Prices Surge by 17% at Shufersal Revealing a Broader Market Trend
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The price of fresh ground beef at Shufersal has surged by 17%, highlighting a broader trend of rising meat prices across the market. As of this Sunday, the cost of fresh, chilled ground beef at Shufersal has jumped from NIS 28 per kilogram in 2022 to NIS 69.90 per kilogram—a more than twofold increase

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Aug 30, 2024

 Delta-Galil Enters Indian Market  for the first time in Partnership with Reliance Industries
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Delta Galil, the Israeli underwear and sportswear manufacturer, has announced its entry into the Indian market for the first time. The company, controlled by Isaac Dabach, is establishing a joint venture with Reliance Industries, one of India's largest retail corporations

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Sep 10, 2024

Sharp Rise in Israeli Emigration: 55,000 Israelis Left in 2023 -  2024: trend is worsening
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The Central Bureau of Statistics (CBS) has released alarming data showing a significant increase in the number of Israelis emigrating and staying abroad for extended periods. In 2023, a total of 55,300 Israelis left the country, marking a 46.4% rise compared to the previous year. This translates to approximately 5.7 residents leaving per every 1,000 people living in Israel

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Sep 22, 2024

US giant Salesforce acquires Israeli software company  "Zoomin" for approximately $350 million
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The software giant Salesforce announced this evening (Tuesday) the acquisition of the Israeli company Zoomin. The amount of the deal has not been published, but according to estimates the amount that Salesforce will pay in the first stage is approximately $350 million and may increase to $450 million after the addition of personal rewards to the company's employees and entrepreneurs, subject to a series of conditions

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Sep 24, 2024

 Teva Expands Collaboration with mAbxience to Develop Biosimilar Oncology Drugs
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Teva Pharmaceutical Industries Ltd. announced a significant expansion of its collaboration with ambiance, focusing on developing biosimilar drugs—generic versions of biological medications created through the genetic engineering of mammalian cells or bacteria. This new agreement specifically targets a biosimilar version of an oncology drug from the PD-1 control protein blocker group

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Oct 3, 2024

Teva Industries Agrees to $450 Million Settlement with U.S.  Department of Justice
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Teva Industries, the world’s largest manufacturer of generic drugs, has announced a $450 million settlement with the U.S. Department of Justice (DOJ). This settlement addresses multiple lawsuits alleging price coordination and fraudulent practices related to patient deductible coverage

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Oct 10, 2024

Israel's Government Deficit Reaches 8.5% of GDP Amid Rising Expenditures - 0.2% increase
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As of the end of September, Israel's government deficit has reached 8.5% of GDP, amounting to approximately NIS 166 billion. This marks a 0.2% increase (about NIS 8.8 billion) from the previous month, reflecting escalating financial pressures related to ongoing military operations

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Oct 10, 2024

The fast-food chain McDonald's Israel to Offer Free Product as Part of Class Action Settlement
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McDonald's Israel will soon offer customers a free product with their online orders, following a class action settlement approved today (Tuesday) by the Central District Court in Lod. The settlement, which resolves claims of misleading pricing, will allow online orderers to select one free item from three options: a half-liter bottle of water (NIS 13), a 330 ml can of Coke Zero (NIS 10), or regular-sized fries (100 grams, NIS 18)

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Dec 17, 2024

 State Budget for 2025 in First Reading Amid Tensions Within Coalition
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The Knesset plenum approved the state budget laws and the 2025 economic plan in a first reading late Monday night. The budget, totaling approximately 609 billion shekels, aims for a deficit target of 4.4%. The approval came amid significant political tensions surrounding disagreements within the ruling coalition

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Dec 17, 2024

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