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Gross domestic product (GDP), at constant prices and after deducting the seasonal effect, increased in the third quarter by 2.4% on an annualized basis compared with the second quarter (0.6% on a quarterly basis). Compared with the third quarter of 2020, it increased by 5.9%, according to the Central Bureau. According to statistics, the gross domestic product per capita increased by 0.5% on an annual basis. The Central Bureau of Statistics explains that the relatively moderate increase was also due to a decrease in passenger car imports compared to the second quarter (partly due to the...

OPC energy company is promoting the development of a power plant in West Virginia that supplied 1.8 gigawatts, for $3.5 billion. The station is powered by natural gas and incorporates technologies to capture and bury the carbon dioxide emitted by the station. The announcement of the project, which will be carried out through the American subsidiary CPV (70%), was made together with the Chairman of the Energy Committee in the Senate Joe Manchin from West Virginia, and the representative of the Governor of West Virginia. Giora Almogi, CEO of OPC, (-2.07% 4210), said that the establishment of...

The Bank of Israel today publishes the annual report for 2020, which includes an extensive review of the effects of the corona on the economy. The bottom line, the report notes, is that there are considerable differences between sectors in the economy and society. Weaknesses of the socio-economic safety net and gaps between sectors. According to the report, the approval of the state budget for 2021 is essential to set priorities and implement plans to accelerate growth, especially in the areas of human capital and investment in public transport, communications, energy and environmental...

Israel celebrates 73: This morning (Thursday), President Reuven Rivlin hosted for the last time during his tenure the event "All Israel from Jerusalem" and the ceremony of the 120 outstanding soldiers. Chief of Staff Major General Aviv Kochavi also attended the event, but Prime Minister Benjamin Netanyahu and Defense Minister Bnei Gantz are not attending this year due to Corona restrictions. Rivlin congratulated the outstanding soldiers. "My dear, I must say that I am excited to stand before you here today, for the last time as President. On this Independence Day you and you give us 120...

The Finance Committee of the Tel Aviv-Yafo Municipality has approved the doubling of the hourly parking fee in blue and white for visitors to the city center who are not residents. This will increase the price of parking from NIS 6.30 per hour today to NIS 12.60. The city council is expected to approve the change at its next meeting on May 23, and a month later it will take effect. The change in the tariff was made possible thanks to the "parking reform" that underwent the latest arrangement law, which, among other things, allowed the municipalities to raise the price of parking above NIS...

Vianai Systems, a Human-Centered AI platform and products company, today announced that it has raised $140M in a Series B financing from SoftBank Vision Fund 2* and several industry luminaries. Vianai will use the new capital to accelerate the delivery of its human-centered AI platform and products to enterprises worldwide. For many enterprises, AI has not lived up to its hype. AI's true potential originates from the ability to put humans at the center of technological solutions. Vianai’s pioneering human-centered AI approach amplifies human judgment thus empowering domain experts...

After a long series of cuts in the startup companies and the unicorns, it is the turn of the public high-tech companies. The Fiverr company, which was considered one of the most successful Israeli IPOs of recent years, informed its employees of the layoff of 60 employees, half of them in Israel. Fiverr developed a platform to connect freelancers with organizations and enjoyed a tremendous boom during the Corona period which led to the recruitment of many employees to meet the load of demand

Prime Minister Naftali Bennett and Health Minister Nitzan Horowitz have decided to cancel the General Security Service's surveillance of the cell phones of Corona patients who are supposed to be in solitary confinement. Surveillance returned following the South African variant Omicron. Following the public criticism of the surveillance, five days after it was received, the Prime Minister and the Minister of Health decided to give up this surveillance tool. The statement said: "At midnight, emergency regulations approved by the government for the use of cellular surveillance by the General...

The government convened on Monday evening and approved in principle the return to full schooling in all classrooms and the abolition of capsules starting next week, in light of data indicating a dramatic drop in morbidity in the education system. An official vote has not yet been taken, and it will be held only after the regulations are brought in for ministerial approval tomorrow, once work on them is completed. The government is also discussing a plan by the Ministry of Transportation to increase the capacity of passengers at Ben Gurion Airport, as well as the number of flights. During...

"The framework of labor relations and wage rules in the public sector in Israel have remained almost unchanged since the 1950s." This is stated in a report on the wage strategy in the public sector in Israel, published by the Organization for Economic Co-operation and Development (OECD), which includes a review of the wage mechanisms and bargaining systems in the public sector in Israel, along with operational proposals for efficiency. In the report, the authors point to various characteristics of the salaries of public sector workers in Israel, which they claim adversely affect...