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Last week, a groundbreaking achievement marked the inauguration of Israel's largest floating solar project, situated atop water reservoirs in Kibbutz Ma'ayan Zvi near Zichron Ya'akov. This ambitious endeavor, spearheaded by the Carmel Coast Water Association, in collaboration with Tralight and Synergy, boasts a remarkable capacity of 31 megawatts. With a total estimated cost of approximately NIS 130 million, this initiative is poised to reshape the country's renewable energy landscape.

The Bank of Israel has reported a staggering loss of over $2 billion in August, stemming from its management of Israel's foreign exchange reserves. The losses have raised concerns about the central bank's investment strategies, prompting questions about the stability of the nation's financial assets

In an exciting development for fashion-conscious Israelis, the renowned British men's fashion chain, Charles Tyrwhitt, is set to make its grand entrance into the Israeli market with the opening of its first flagship store. Located in the bustling Ofer Mall in Petah Tikva, this inaugural branch is part of an ambitious expansion plan by the brand's importer, the Penguin Group, owned by businessman Eliyahu Klimer

In an unusual move, Finance Minister Bezalel Smotrich has drawn criticism for his involvement in shaping a key economic report, raising concerns about the independence of professional economic analysis in Israel. The report in question, mandated by a recent amendment to the law, requires the Ministry of Finance to provide a preliminary estimate of economic forecasts in September for years with a two-year budget, such as the current 2023-2024 budget

The Monetary Committee of the Bank of Israel has chosen, for the second consecutive time, to keep the interest rate steady at 4.75%. This decision aligns with market expectations and comes amid a backdrop of dwindling inflation, which dropped to 3.3% in July, juxtaposed with concerning signs of an economic slowdown

Israel's Ministry of Agriculture has granted approval for the import of 28 million eggs from Ukraine, Spain, and Poland to avert any potential shortage during the upcoming holidays. Despite recent fluctuations in the exchange rate of the dollar and the euro, consumers will not face increased costs, as the imported egg prices will remain stable through vigilant monitoring

In the period between June and August of 2023, a substantial surge of approximately 84% was recorded in the number of requests from companies seeking court assistance. These companies were grappling with financial distress and were requesting immediate appointment of officials to oversee their affairs. This marks a significant uptick compared to the same period in 2022. The data, compiled by Insolvency Commissioner D. and CPA Asher Engelman, also revealed a distinction in the nature of requests during this timeframe

In a strategic move that underscores the growing synergy between fintech and cybersecurity, Verifone, a prominent player in the fintech sector, has announced its collaboration with Check Point, a renowned Israeli cybersecurity company. The partnership centers around Verifone's cutting-edge monetization platform, CheckOut2, which Check Point has chosen to market and sell its extensive range of online courses and training modules focused on information security and cyber awareness to organizations worldwide

Israel's revenues from natural gas royalties witnessed a substantial surge during the first half of 2023, reaching over NIS 1 billion. This marks a remarkable 23% increase compared to the same period in the previous year. reports the Natural Resources Administration at the Ministry of Energy. A significant contributor to this impressive growth was the initiation of natural gas production from the Harish reservoir in October 2022. This addition not only led to a boost in gas production volumes by approximately 13%, with 12.32 billion cubic meters (BCM) produced in the first half of 2023...

Rafael, one of Israel's leading defense companies managed by Yoav Har-Even, has posted a profit of NIS 62 million in the second quarter of 2023. This starkly contrasts with the NIS 75 million loss registered during the same period in 2022. The company's financial success is attributed to a robust growth of 29% in revenues during Q2 2023, amounting to NIS 3.1 billion