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by Ifi Reporter
Category: Capital Market
The Consumer Price Index (CPI) for October 2023 surprised analysts by increasing 0.5%, surpassing the anticipated 0.4% rise. The data, released by the Central Bureau of Statistics (CBS) today, reflects the first month of the "Iron Swords" war, defying predictions of a decrease in prices due to reduced consumption during wartime
Nov 15, 2023
by Ifi Reporter
Category: Capital Market
In a significant move to address the indirect damage caused by the ongoing "Iron Swords" war, the Tax Authority in Israel has opened an online claims system for businesses. This system allows businesses nationwide to file compensation claims, taking into account the location of the business and the extent of damage incurred during the conflict
Nov 19, 2023
by Ifi Reporter
Category: Financial
In a swift and unexpected turn of events, Nirlat, the renowned paint manufacturer from the Inrom group, has acquired Decoline for NIS 63 million, just six weeks after its main factory in Kibbutz Nir Oz, Gaza Strip, was tragically destroyed in a Hamas attack. The purchase, part of a lightning deal, aims to enable Nirlat to resume production as an alternative to its now-lost facility
Nov 19, 2023
by Ifi Reporter
Category: Banking
In a significant financial move, Israel's Ministry of Finance has successfully completed a giant issuance with a total financial volume of NIS 3.3 billion. The issuance comprised NIS 2 billion in shekel bonds and NIS 1.3 billion in index-linked bonds
Nov 20, 2023
by Ifi Reporter
Category: Financial
Moody's, the prominent credit rating agency, has declared that it is placing the Israeli government's credit rating under review for a potential downgrade. This announcement comes in the wake of the recent outbreak of war in the region, and it closely follows a similar decision made by Fitch, another credit rating company
Nov 20, 2023
by Ifi Reporter
Category: Government
In a press conference held less than 24 hours after the Israeli government's approval of a deal for the return of abducted individuals, Prime Minister Benjamin Netanyahu, Defense Minister Yoav Galant, and Minister Benny Gantz outlined the details of the agreement. Under the terms, at least 50 minor abductees, mothers, and elderly women will be released in exchange for a four-day pause in the fighting and the release of Palestinian prisoners
Nov 22, 2023
by Ifi Reporter
Category: Financial
Half a year after canceling a deal to purchase it, the medical device company from Kfar Saba Cartiheal is sold to the British company Smith & Nephew for $330 million. The deal is expected to close in the first quarter of 2024. According to the agreement, the buyer will pay the shareholders of Carthill 180 million dollars in cash, and the balance - 150 million dollars - subject to meeting a milestone of cumulative sales of 100 million dollars in 12 consecutive months (as opposed to a calendar year), when the sales target must be achieved Within 10 years from the date of closing the deal
Nov 22, 2023
by Ifi Reporter
Category: Financial
In the wake of the ongoing conflict in the region, several Western fast-food chains, including McDonald's, KFC, and Starbucks, are facing a significant boycott across various Arab countries. The boycott, primarily driven by social media movements, has gained traction in countries such as Egypt, Jordan, Kuwait, and Morocco
Nov 23, 2023
by Ifi Reporter
Category: Government
In a joint effort by the Israel Defense Forces (IDF) and the Shin Bet, 13 abductees, including Israeli citizens, women, and children, were successfully transferred to Israeli territory. An elite unit of the IDF and the Shin Bet escorted the returnees, ensuring their safety and conducting initial medical assessments
Nov 24, 2023
by Ifi Reporter
Category: Banking
In a closely watched decision, the monetary committee of the Bank of Israel has chosen to keep the country's interest rate steady at 4.75%, in line with most economic forecasts. This move, despite the ongoing war that has persisted for 52 days, sets the stage for a potential reduction in January 2024, marking the first decrease since the initial cut in April 2020 during the early days of the COVID-19 pandemic
Nov 27, 2023