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In a move reflective of the challenging economic landscape, Osem Nestlé and Unilever have announced price hikes on a range of products starting March 1. Osem Nestlé's price adjustments will affect popular items such as Sabar salads, Tivol products, Bonjour pastries, Osem ketchup, noodles for soup, sauces, cookies, and chocolate-based products like Apropos and Kitkat. The increases vary between 3% and 9%, with some products seeing an 8%-5% rise. Osem Nestlé emphasized that this adjustment pertains to around 14% of its total product offerings, primarily those produced in industrial plants...

Teva Pharmaceutical Industries, a leading pharmaceutical giant, has announced a notable annual revenue growth of 6.2% for 2023, bringing in a total of $15.8 billion. After enduring five consecutive years of decline, this resurgence is attributed to a substantial advance payment of $500 million received from Snoopy Pharmaceuticals as part of a collaborative effort on an innovative anti-TL1A drug

The IMF economists express concerns that the conflict in Gaza could escalate further, and continued attacks by the Houthis in the Red Sea, a crucial route for 11% of world trade, could disrupt supply chains and impede the global recovery. The ongoing war in Ukraine adds to the risks, potentially causing spikes in food, energy, and transportation prices, which have already seen a sharp increase

In the recently released Corruption Perception Index (CPI) for the year 2023, Israel has experienced a notable drop, falling to 33rd place with a score of 62. This comes after a positive shift in 2022, where Israel climbed five places with a score of 63, compared to the lowest score of 59 in 2021

In a decision reached during today's Electricity Authority plenum meeting, the electricity prices in Israel are set to increase by 2.6% starting February 1, 2024. The approval follows a three-week public hearing process and aims to address various challenges, including economic difficulties due to the ongoing war

Thousands gathered on Sunday evening at the Nation Buildings in Jerusalem for the opening of the right-wing conference titled "For the Victory of Israel." Organized by the Samaria Council, the Nahala movement, and other bodies, the conference advocates for the return of Jewish settlement in the Gaza Strip

The Israel Defense Forces (IDF) reported ongoing clashes in the Khan Yunis area, with Division 98 fighters actively engaged in eliminating terrorists and uncovering weapons and military equipment. A military warehouse was discovered deep in Khan Yunis, housing a significant amount of ammunition, weapons, and advanced technological means

In the wake of escalating tensions between Turkey and Israel, a growing number of Israeli consumers are expressing concern about unwittingly purchasing products with Turkish origins. While the import of certain goods like tomatoes and vegetables from Turkey has been halted, many popular international brands continue to manufacture products in Turkish factories, raising eyebrows among Israeli shoppers

In a recent hearing at the Knesset's finance committee, Professor Amir Yaron, the Governor of the Bank of Israel, voiced apprehensions regarding the potential downgrade of Israel's credit rating. Prof. Yaron acknowledged the increased risk premium since October 7, emphasizing the necessity for the government to implement challenging measures in the 2024 state budget to address economic concerns

In a surprising move, Solaredge, a prominent player in the renewable energy sector, has unveiled plans for an extensive streamlining program, involving the layoff of 900 employees, with 550 job cuts in its home base, Israel. This amounts to a significant 16% reduction in the company's workforce, which currently stands at around 5,500 employees