Articles

In a recent OECD report, Israel has claimed the unenviable top spot for the highest cost of living among member countries, with prices soaring 38% above the OECD average. Despite efforts to mitigate the impact through compensatory measures targeting specific voter groups, experts argue that the underlying issue of economic centralization remains largely unaddressed

Rafael, one of Israel's leading defense companies managed by Yoav Har-Even, has posted a profit of NIS 62 million in the second quarter of 2023. This starkly contrasts with the NIS 75 million loss registered during the same period in 2022. The company's financial success is attributed to a robust growth of 29% in revenues during Q2 2023, amounting to NIS 3.1 billion

Ashstrom Group, a prominent player in the construction and infrastructure sector with a market value of around NIS 5.5 billion, has released its financial results for the second quarter and the first half of 2023. Despite a challenging business environment, the company demonstrated stability and growth across its diverse portfolio

In a strategic move that underscores the growing synergy between fintech and cybersecurity, Verifone, a prominent player in the fintech sector, has announced its collaboration with Check Point, a renowned Israeli cybersecurity company. The partnership centers around Verifone's cutting-edge monetization platform, CheckOut2, which Check Point has chosen to market and sell its extensive range of online courses and training modules focused on information security and cyber awareness to organizations worldwide

Israel's revenues from natural gas royalties witnessed a substantial surge during the first half of 2023, reaching over NIS 1 billion. This marks a remarkable 23% increase compared to the same period in the previous year. reports the Natural Resources Administration at the Ministry of Energy. A significant contributor to this impressive growth was the initiation of natural gas production from the Harish reservoir in October 2022. This addition not only led to a boost in gas production volumes by approximately 13%, with 12.32 billion cubic meters (BCM) produced in the first half of 2023...

In the period between June and August of 2023, a substantial surge of approximately 84% was recorded in the number of requests from companies seeking court assistance. These companies were grappling with financial distress and were requesting immediate appointment of officials to oversee their affairs. This marks a significant uptick compared to the same period in 2022. The data, compiled by Insolvency Commissioner D. and CPA Asher Engelman, also revealed a distinction in the nature of requests during this timeframe

Israel's Ministry of Agriculture has granted approval for the import of 28 million eggs from Ukraine, Spain, and Poland to avert any potential shortage during the upcoming holidays. Despite recent fluctuations in the exchange rate of the dollar and the euro, consumers will not face increased costs, as the imported egg prices will remain stable through vigilant monitoring

After overcoming a significant obstacle in the form of a teacher's union strike, an estimated 2,535,000 students from kindergarten to 12th grade are back in schools today, marking the start of the new academic year. This includes a cohort of 181,000 first-grade students, embarking on a 12-year educational journey with great anticipation

In the face of ongoing chaos in south Tel Aviv, protests against what has been termed the "legal revolution" continued this Saturday evening as part of a series of demonstrations. Despite the tumultuous events in the city, the leaders of the protest, known as "Kaplan Force," emphasized that they were in constant contact with the Israel Police to ensure the safety of the gatherings

In what should have been one of the peak seasons for Israel's hotel industry, hoteliers are now grappling with a sharp decline in occupancy rates and tourist bookings. The imposition of a vacation coupon system, long-standing high room rates, and pricing strategies that raise costs during peak seasons have all contributed to a challenging year for the industry. This trend is evident in the latest data from the Central Bureau of Statistics (CBS), which reveals a low point not seen in eight years