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The closure continues to deepen the decline in consumption data, according to recent data on the volume of credit card use in the past week published by the Bank of Israel. The data show a significant slowdown in all sectors of the economy. The average daily volume of credit card use was NIS 848 million, a decrease of 10% compared to the pre-crisis period. In the previous week, the average daily use was NIS 1.09 billion (an increase of 11% compared to the pre-crisis period). In examining the various industries, the decrease in expenditure on education and leisure of about 50% in the...

The Bank Hapoalim published its financial results for the first quarter of 2020, and the Corona crisis was clearly evident with a sharp 76.6% drop in net profit to NIS 192 million. Bank Hapoalim is the first of the banks to publish its Q1 reports. The decrease in net profit is a significant increase in NIS 757 million in credit losses, including a group provision of NIS 603 million due to uncertainty over the effects of the Corona crisis and a preliminary step to the possibility of borrowers, including large borrowers such as a fuel group that will find it difficult to meet payments. The...

Education Minister Yoav Galant today unveiled the ministry's continuation of plans to open the school year on September 1, under Corona restrictions. According to the plan being formulated by the Ministry of Education, studies in kindergartens and grades 1-4 will in any case take place in classes of up to 18 students per class - so that existing classes in elementary schools will be split into two. In kindergartens the classroom split will be more complex, and will require different solutions like installing a partition inside the kindergarten to create separation between the groups and...

The average wage in the economy last May was NIS 11,300 gross, a decrease of 3% compared to April this year. This is according to data from the Central Bureau of Statistics. The number of jobs in May was 3.552 million, an increase of 15.5% compared to the same period last year and an increase of 1.1% compared to the previous month. The continued decline in the average wage in the economy can be attributed to the return of weaker workers to the labor market. Most of the laid off or workers who were expelled from the IDF were in occupations where the monthly income was low, especially in the...

A comprehensive report on "Women in Hi-Tech 2024" was drawn up these days by the Economy and Research Division of the Innovation Authority, and the Aaron Institute on the occasion of International Women's Day, starting tomorrow. The good news: in 2023, there will be an increase in the number of women in the high-tech industry in Israel - 131,000 women, almost double compared to the previous decade, and an increase of 2.7% compared to 2023. The bad news: it's not enough. According to this growth rate, the State of Israel will not meet the goal set by the Perlmutter Committee for increasing...

Prime Minister Benjamin Netanyahu on Wednesday evening declared that all citizens who leave the house "must wear a mask or scarf," also announced a grant to be given to every family with children and the elderly. In addition, the restriction on traffic to and from Bnei Brak was announced. Treasury officials said they were surprised by the promises of special grants and found out just minutes before the statement. PM Olmert asked Israeli citizens to wear masks at every exit from home, or to cover their faces with cloth, two days after Ynet revealed that the Ministry of Health is expected to...

On Thursday night, the Finance Committee approved the budget laws for the years 2022-2021 for a second and third reading in the Knesset. Last minute: An additional NIS 91 million was agreed for the opposition in the coalition agreements. After approving the numerical part of the budget last night, the committee also approved the verbal part tonight, thus concluding the budget discussions and the Arrangements Law ahead of next week's Knesset votes. Today, discussions on the Arrangements Law are expected to continue in the various committees in the Knesset, prior to its approval there as...

The Knesset's Constitution Committee, chaired by MK Yaakov Asher, convened on Monday to discuss the "Green Passport" initiative for recovering people from Corona and those vaccinated against it, which could allow citizens holding it free access to sites now closed to all due to the spread of the epidemic. The presentation of the Ministry of Health presented to the Knesset members suggests the areas for which the "green passport" will be valid. According to the plan, the passport may allow entry to cultural events, sporting events, conferences, events and museums, and possibly also to...

American Snap, the parent company of the social network Snapchat, acquires the Israeli company Voca.ai. The purchase amount of Voca is about $ 70 million, having so far raised only $ 6 million. Its investors include the strategic investment group of American Express, Lool Ventures, Flint Capital and Group11. The company employs about 35 people who will join Snap. Voca was founded in 2017 by Dr. Alan Becker, and Einav Itamar. Its most recent significant acquisition was in 2019, when it invested in the investment fund of the American credit card giant American Express. Mastercard.