The Economist magazine ranked Israel as the fourth best economy in 2022. “In the Middle East, Israel has prospered over the past year despite the political chaos,” writes the British weekly. The ranking of 34 OECD countries was compiled using five macroeconomic indicators: GDP growth, annual inflation, inflation breadth, stock prices and public debt. As… […]
The global financial crisis is now also reaching a place where many thought it would never, the Israeli hi-tech industry. Numerous companies have laid off a large part of their workforce, some even saying goodbye to up to 15 percent. In addition to layoffs in the Israeli branches of large international companies such as Intel… […]
In our new series “More Swissness in Israel” we write monthly about current topics that show the presence and activities of Switzerland in Israel in all of its diversity. A bit of Swiss attitude towards life in Israel. “Swiss banks in Israel?” Philippe Weil frowns and considers, “I can think of ten Swiss banks here… […]
Israel has never been in the top 20 economies for GDP per capita; however, the past year has made the strength of the Israeli economy notable despite its subsequent shutdowns during the coronavirus crisis. In the latest Forbes Israel report based on International Monetary Fund data, Israel is 19th on the global list. GDP per… […]
Industries are being turned on their sides due to digital, yet banking hasnât seen much out of the box – until the First Digital Bank. Founded by Professor Amnon Shashua, who played a founding role in the Mobileye self-driving car revolution, the First Digital Bank hopes to be a disruptor in the centuries-old industry. CEO… […]
Adopting Black Friday shopping tradition from American culture, thousands of Israelis stood in line as a sample size of 15 malls re-opened for the first time since mid-September. With only 10 customers allowed per store, lines were massive. Opening malls is part of a pilot plan to determine whether it is safe given COVID-19. Due… […]
A recent report by the International Monetary Fund (IMF) finds that the Israeli economy is expected to recover rapidly, despite the corona crisis. Entering COVID-19 circumstances from a place of strength support the idea that stability will return come 2021, despite the high levels of uncertainty emanating daily. Due to the quick action of the… […]
In a controversial move, Jerusalem, a city steeped in history, tradition and ancient culture, is turning a new leaf. Despite being loved for its low Old City skyline, the municipality has recently approved a series of new high rises. Once upon a time the city was allowed only to build up to 8 stories, slowly… […]
With a 3.7% infection rate, Israel is slowly beginning to open up. As of Sunday, October 18, the strict lockdown lifted, though businesses and schools stayed closed â for most. Rejecting the restrictions, and reopening schools is the Haredi community, which subsequently also has the highest rate of infection, five times more likely to get… […]
Given the current need to stay home, itâs not unexpected. In the first half of 2020, food sales increased by 9% compared to 2019, meaning an additional NIS 2 billion for the food and beverage industry. With millions of households full, mid-Marchâs lockdown and another imminent return, plus the closing of bars and restaurants, people… […]
 An all-in-one protest hit the Tel Aviv streets last Saturday night gathering 10,000 Israeli residents at Rabin Square, who were rallying for better support during the financially challenging times amidst the ongoing coronavirus crisis. Members from the restaurant world, entertainment industry, social workers, students, and artists were present, who have all been hit hard. There… […]
After a series of talks and no action, the Union of Social Workers in Israel launched an open-ended strike on Monday. Prior to the strike, thousands of social workers rallied in Tel Aviv, Jerusalem, and in other spots across the country. They are demanding NIS 150 million, or $44 million, to support the union in… […]
As coronavirus cases continue to climb, falling restrictions are filtering back into the public fold. Gatherings have been limited to 50; however outdoor cultural events can still host up to 250 people. Indoor event halls are capped at 100 people, and police are meant to be enforcing all restrictions. This week has seen over 18,000… […]
The warning bells have sounded. With a steep increase in confirmed COVID-19 cases in the last two weeks and over 500 in the past 24 hours, the âCorona Cabinetâ is in discussions to set down, or retract, some freshly laid guidelines. Police forces have been asked to strictly enforce social distancing in crowds, as well… […]
The State of Israel is slowly but surely returning to its norms. With confirmed corona cases decreasing, authorities are working to create a manageable exit plan and restore a smoothly functioning society. However, a lockdown curfew was put in place on Israeli Independence Day, to prevent gatherings from taking place. While up to 15,000 tests… […]
Just about five years ago on December 3, 2014, a pipeline burst leaking five million liters of oil along the border of Eilat and Jordan. The Eilat-Ashkelon Pipeline Company was doing routine work, and the result of the burst pipe is considered the worst ecological disaster in Israel and the largest oil spill to date.… […]
A recent OECD health report shows that Israel invests less in healthcare than most countries. The United States lands in the number one spot, spending an average of $10,000 annually on resident healthcare. Israel falls in the bottom fifteen, only spending $2,780 on their individual citizens. According to the Health at a Glance report, the… […]
The Israeli economy is growing, and its deficit is too. With rising expenses on a second election, tax increases, socioeconomic handouts, and increasing municipal salaries, Israelâs GDP has increased to 4%, despite an expected increase of only 2.9%. With the unknown future of the prime minister and its splay of governmental parties in stalemate, Israelâs… […]
The Israeli economy is growing, and its deficit is too. With rising expenses on a second election, tax increases, socioeconomic handouts, and increasing municipal salaries, Israelâs GDP has increased to 4%, despite an expected increase of only 2.9%. With the unknown future of the prime minister and its splay of governmental parties in stalemate, Israelâs… […]
Not surprisingly, banks and Bitcoin arenât getting along. In the most recent flurry of financial mayhem, droves of peoples are buying Bitcoin, and the banks around the world are not on board. The Bank of Israel stated that they will not recognize cryptocurrencies as legitimate currency, and it is currently considered a digital asset. While… […]
