News

Bank of Israel's Foreign Currency Reserves Hit Record High Amid Global Market Revaluation: Reserves Climb to $220.37 Billion

Posted on Oct 8, 2024 by Ifi Reporter - Dan Bielski

At the end of September, the portfolio of foreign currency balances at the Bank of Israel continued to increase in value to a record level of $220.37 billion. The increase in value is due to a...

Benny Landa's laboratory diamond company, Lusix, will be sold for only NIS 9.5 million

Posted on Sep 29, 2024 by Ifi Reporter - Dan Bielski

Benny Landa's laboratory diamond company, Lusix, will be sold for only NIS 9.5 million (approximately $2.5 million) to the Japanese investor Panoji Fujimori, owner of the public EDP company...

Bank of Israel Confirms: No Plans to Cancel 200 Shekel Bill

Posted on Sep 26, 2024 by Ifi Reporter - Dan Bielski

In response to recent public concerns, the Bank of Israel has officially confirmed that it does not plan to cancel the 200 shekel note. "Cancellation of the note is not on the agenda,"...

Fox Launches Independent Online Store After Years of Terminal X Exclusivity

Posted on Sep 25, 2024 by Ifi Reporter - Dan Bielski

After years of selling its products online through Terminal X, the Fox Group has finally launched an independent online sales website for its flagship Fox brand. The move comes after the company...

Fitch Upgrades Teva's Credit Rating Citing Debt Reduction and Growth Prospects

Posted on Sep 20, 2024 by Ifi Reporter - Dan Bielski

Fitch Ratings has upgraded Teva Pharmaceutical Industries' credit rating from BB- to BB, raising the rating of the company’s unsecured bonds to the same level....

Fed Lowers Interest Rates by 0.5% After 14-Month Pause; Further Cuts Expected

Posted on Sep 18, 2024 by Ifi Reporter - Dan Bielski

In a significant move, the US Federal Reserve reduced its key interest rate by 0.5% on Wednesday, marking the first cut in 14 months and bringing the rate down to a range of 4.75%-5%. This is...

Israeli Ag-Tech Company Suplant in Advanced Negotiations for $250 Million Sale to Arab Partner Under Abraham Accords

Posted on Sep 18, 2024 by Ifi Reporter - Dan Bielski

The Abraham Accords, which marked a historic shift in relations between Israel and several Arab nations, have paved the way for significant business collaborations, particularly in...

State Attorney Considers Indicting Senior Executives of Yount Credit Including Former Finance Minister Moshe Kahlon

Posted on Sep 17, 2024 by Ifi Reporter - Dan Bielski

The State Attorney's Office has notified several senior officials and officers of the public company "Yount Credit," including former Finance Minister Moshe Kahlon, that it is...

Roy Kahlon will be the next director of the Companies Authority

Posted on Sep 16, 2024 by Ifi Reporter - Dan Bielski

Roy Kahlon will be the next director of the Companies Authority. This is how the search committee headed by the director of the Yankee Quint Authority decided to recommend Kahlon to Minister...

Sharp Decline in Income Guarantee Claimants: Lowest in 30 Years Amid Rising Cost of Living

Posted on Sep 15, 2024 by Ifi Reporter - Dan Bielski

The number of income guarantee claimants in Israel fell to 45,800 in August, marking the lowest figure in three decades, according to the Employment Service's Labor Market Pulse...

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