Articles

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

Over the weekend, Tel Aviv witnessed a disturbing outbreak of severe violence involving asylum seekers from Eritrea, underscoring the ongoing tensions between supporters of the Eritrean regime and its opponents. These clashes come against the backdrop of President Isaias Afwerki's lengthy rule since Eritrea declared independence in 1993. Notably, since 2011, Eritrean embassies worldwide have organized special festivals celebrating local culture, which some opponents of the regime view as a display of government power and persecution through these global embassy events

The Monetary Committee of the Bank of Israel has chosen, for the second consecutive time, to keep the interest rate steady at 4.75%. This decision aligns with market expectations and comes amid a backdrop of dwindling inflation, which dropped to 3.3% in July, juxtaposed with concerning signs of an economic slowdown

In an exciting development for fashion-conscious Israelis, the renowned British men's fashion chain, Charles Tyrwhitt, is set to make its grand entrance into the Israeli market with the opening of its first flagship store. Located in the bustling Ofer Mall in Petah Tikva, this inaugural branch is part of an ambitious expansion plan by the brand's importer, the Penguin Group, owned by businessman Eliyahu Klimer