Articles

In a groundbreaking development today, the Israel Electric Corporation (IEC) finalized the sale of the Eshkol power station to "Dalia Energy" and George Horesh's "Union" group for an impressive NIS 9 billion. This marks one of the largest deals in the nation's economy, with the exact amount, 9,001,181,818 NIS, set to be transferred to the Electric Company upon the completion of the transaction, expected within the next 5-6 months

US Army's Central Command reported that the commercial tanker "STRINDA" was targeted in the Red Sea by what is believed to be an anti-ship cruise missile. The attack occurred approximately 100 kilometers north of the Bab al-Mandab strait, an area controlled by Houthi rebels in Yemen. The vessel was en route through the strategic strait when the incident unfolded

Israel experienced a significant downturn in its economic landscape in 2023, as reported by leading financial services firm PwC. The total value of transactions, mergers, and acquisitions plummeted by an alarming 46%, reaching a meager $9.8 billion compared to the robust $18 billion recorded in 2022. These figures mark the lowest in the past decade, excluding 2014 when the total transactions amounted to $7.2 billion

The latest data from the Central Bureau of Statistics underscores the severe challenges faced by the real estate sector, pointing to a historic low in new apartment sales. In October, amidst the outbreak of war, a mere 930 new apartments were sold, with only 89 benefiting from government housing programs and discounted rates per resident

In October, Israel's official unemployment rate stood at a seemingly low 3.0%, reflecting 133,000 unemployed individuals. However, the recent conflict has drastically altered the employment landscape, leading to a surge in job losses. Despite the reported decrease to 3.4% in the previous month, the true impact reveals a different story

In a significant move to bolster its budget for 2024, the Ministry of Finance in Israel is contemplating the cancellation of the longstanding VAT exemption on purchases from abroad. The 17% automatic discount on overseas acquisitions is set to expire soon, marking a potential shift in taxation policy. This decision is part of broader efforts to tighten financial belts and raise taxes, but it has sparked a heated debate among stakeholders

In a recent communication to its customers, global shipping giant Maersk revealed that it is contemplating a return to sailing in the Red Sea. This potential policy shift follows the company's earlier decision to cease operations in the region due to Houthi attacks. The catalyst for Maersk's reconsideration is the establishment of an international force, announced last week, aimed at countering Houthi threats and ensuring maritime security

In a pivotal development ahead of the war cabinet's discussion on the Egyptian proposal for hostage negotiations, Israel expresses readiness for significant concessions while firmly rejecting the possibility of a ceasefire

Intel has revealed a comprehensive investment plan in collaboration with the Israeli government to bolster its production capabilities in Kiryat Gat. This development involves an additional $15 billion investment in the plant, supplementing the $10 billion commitment made in 2019. The multinational corporation will construct a new chip factory, supported by a substantial $3.2 billion grant disbursed over several years, constituting 12.8% of the total investment

In a surprising move, credit rating company Ma'alot S&P announced today that it is elevating the rating of the aerospace industry to A-, just six months after boosting it to BBB+. The company attributes this change to the aerospace industry's resilient operational performance, which remains robust despite the ongoing war and reserve mobilization