Zum Thema: Finance

Food Sales Fly in First Half of 2020

Given the current need to stay home, it’s 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-March’s lockdown and another imminent return, plus the closing of bars and restaurants, people… […]

Israel’s Current Corona Economy

 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… […]

Israeli Social Workers Finally Strike

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… […]

Israel Hints Possible Return to Lockdown

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… […]

Corona Cabinet and Second Wave Update

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 “Corona Cabinet” 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 Almost Closing Terms of Coronavirus

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… […]

Oil Company Fined NIS 100 Million

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.… […]

Israeli Healthcare Spend is in the Lowest

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… […]

Israel’s Inevitable Budget Issues

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, Israel’s 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, Israel’s… […]

Israel’s Inevitable Budget Issues

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, Israel’s 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, Israel’s… […]

How Banks and Bitcoin Get Along

Not surprisingly, banks and Bitcoin aren’t 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… […]

The SocialTech Revolution is Here

Imagine being able to save six billion male baby chicks from dying every year? Because they don’t lay eggs and cannot be used for poultry, billions of baby chicks are murdered and discarded annually. An Israeli startup, eggXYt, aims o save the chicks and found a solution which saves money and lives, decreases waste, and creates exponential… […]

Israeli Shekel is second strongest currency

The New Israeli Shekel has come in second place as the world’s strongest currency, listed only after the Chinese Yen. According to Gautam Kalani, the foreign currency analyst from Deutsche Bank, the New Israeli Shekels appreciated in value about 6.1% in the past six months alone, and overall is valued about 10% over other global… […]

Minimum wage rises in Israel

Beginning December 2017, minimum wage will be raised in Israel, from NIS 5,000 to NIS 5,300 per month. The NIS 300 increase was passed by the Knesset Labor and Welfare committee, and aims to reduce gaps in Israeli society. Approximately 700,000 employees will be directly impacted by the pay rise, the fourth increase in the… […]

Diamonds are Going Digital

A new digital currency is hitting the market, and its being backed by the Israel Diamond Exchange, or IDE, located in Ramat Gan, Israel. The Diamond Exchange is collaborating with a new digital currency startup, Carats.IO, which has created an updated framework for trading digital coins, backed by diamonds and based on Diamond Exchange data.… […]

Israeli Economy is Doing Good

Dr. Karnit Flug, Governor of the Central Bank of Israel, recently presented a 2016 report, and based on the numbers, the economy is doing quite alright. She mentions that Israel’s GDP grew 4% over the last year, full employment has been maintained, and there has been an increase in salary. The steady drive of the… […]

“The social protests were a wake-up call for the government“

Yael Mevorach is an expert for macro-economics and deputy director of the influential budget department in the Israeli Ministry of Finance. We met her to discuss Israeli economy and the high costs of living… Interview by Katharina Hoeftmann BTL: You have been working in the Israeli Ministry of Finance for more than ten years. Which… […]