Articles

Tel Aviv, once topping the list two years ago, has slid to the 8th position in The Economist magazine's latest ranking of the world's most expensive cities. Last year's third-place ranking now sees Tel Aviv sharing the spot with Copenhagen. The city's descent is attributed to the recent conflict in Gaza, affecting exchange rates and subsequently influencing prices. The survey, conducted between August 14 and September 11, revealed a global average price increase of 7.4% this year, slightly lower than the 8.1% jump in the previous year. Analysts express optimism about a potential slowdown...

Mossad Chief Dedi Barnea has ordered his team in Doha to return to Israel after talks with Qatari mediators hit an impasse. The negotiations aimed to renew the ceasefire in the Gaza Strip and secure the release of hostages. The breakdown reportedly occurred due to Hamas refusing to fulfill its commitment to release all held civilians who are still alive

In response to heightened security concerns stemming from increased threats by Iran and Hamas, as well as a surge in anti-Semitic incidents worldwide, the National Security Headquarters has raised travel warnings for Israelis in 80 countries. Notably, Great Britain, France, Germany, Russia, Brazil, Argentina, and Australia have been upgraded from level 1 to level 2, indicating an "occasional threat." South Africa, Eritrea, and select Asian countries now face a level 3 warning, signaling a "medium threat level" and advising against non-essential travel

In a significant development within the Israeli communications market, the Fortissimo investment fund is set to acquire a controlling stake in Cellcom, a leading telecommunications company, at an estimated value of NIS 2.6 billion. The strategic move involves Fortissimo purchasing a substantial 36% holding from DSKSH for approximately NIS 925 million

In a recent report published by accounting and consulting firm PwC Israel, the state of the Israeli high-tech sector in 2023 reveals a significant downturn, with exits amounting to $7.5 billion—a stark 56% decrease compared to the previous year. This marks a substantial 91% decline from the record-breaking $82.5 billion in exits witnessed in 2021

Bank of Israel abruptly ceased its dollar sales in November after initiating a plan to sell $30 billion to fortify the shekel amidst the ongoing conflict. The bank had previously sold $8.2 billion in October, but the volume plummeted to a mere $300 million the following month

In a UN Security Council session called for by the United Arab Emirates, a resolution proposing an immediate humanitarian ceasefire in the ongoing Israel-Hamas conflict faced a setback as the United States exercised its veto power. The resolution garnered support from 100 countries, with 13 out of 15 Security Council members voting in favor, the United Kingdom abstaining, and the U.S. casting a dissenting vote

In the aftermath of a Houthi attack on a vital sea crossing, sea freight prices from China surge by 12%, impacting Israel's economy. In recent developments, the Houthi rebels in Yemen pose a significant threat to Israel, not only through direct missile attacks but also by potentially closing a crucial shipping lane – the Bab al-Mandab strait. This strategic waterway facilitates the passage of 6.2 million barrels of oil per day and 10% of global trade

In a press conference on Sunday, Accountant General Yehli Rotenberg disclosed that Israel is on track to end 2023 with the highest budget deficit in recent history, standing at 4% of the GDP. The announcement coincided with the release of state budget data for November, indicating an accumulated deficit of 3.4% of GDP, totaling NIS 62.3 billion

In a significant move, the government has given the green light to a comprehensive plan for the rehabilitation and development of settlements surrounding Gaza and Sderot. The strategic five-year plan, devised by the Takuma administration, addresses key areas such as education, infrastructure, business, and agriculture, with a budget exceeding NIS 18 billion