Travel restrictions dictated by the gov’t to contain the spread of the coronavirus outbreak have caused Israel’s fuel prices to nosedive, reaching prices not seen since 2009.
Israel’s Energy Ministry announced that fuel prices will fall to the lowest price in over a decade, beginning Tuesday at midnight.
According to the Energy Ministry’s updated fuel prices for the month of April, the price per liter of 95 octane gasoline will drop by NIS 1.03 (¢ 0.29), bringing the total cost to NIS 4.89 ($1.37), a 17.4-percent decline since March.
Getting the car fueled with cheap gasoline. [Illustrative photo]
Fuel prices in Eilat will also fall next month to NIS 4.18 ($1.17) per liter. Continue Reading »
The 2019 Bloomberg Innovation Index advanced Israel from 10th place last year to 5th place this year as a result of better patent registration, outpacing the US, China, the UK and Japan.
By ILANIT CHERNICK
Israel has been named as the fifth most innovative economy in the world, according to the 2019 Bloomberg Innovation Index.
Last year, Israel was ranked in 10th place but this year jumped to fifth place as a result of better patent registration, which has played a large part in its improvement in the rankings.
Continue Reading »
– The Bad News:
There’s the need to improve productivity in the labor market, a need to improve infrastructure, investment in education, promoting consumer reforms and …
– The Good News:
“The Israeli economy has grown faster & more consistently than nearly any other in the OECD for the past 15 years,” and “Unemployment is at historically low levels.”
By Ariel Whitman, Reuters & Israel Hayom Staff
A new report by the Organization for Economic Cooperation and Development has found that the Israeli economy is one of the strongest economies in the world today.
OECD acting Chief Economist Alvaro Pereira, who is currently visiting Israel, presented the report Sunday to Finance Minister Moshe Kahlon, Finance Ministry Director General Shai Babad and Chief Economist Yoel Naveh. Continue Reading »
Before Buffet’s investment in Teva, the billionaire’s first non-American acquisition was of the Israeli company Iscar in 2006 for over $6B, then Ray-Q Interconnect and AgroLogic, but in 2017 the chairman and CEO of Berkshire Hathaway invested $5m. in Israel government bonds for his own personal portfolio.
– “I’m a big believer in Israel’s economy… I didn’t invest the money in any other country. That’s the strongest vote of confidence I can give,” admitted Buffet.
With a track record for placing winning bets at opportune moments, American billionaire Warren Buffett is one of the most scrutinized investors in the world – and recent Israeli investments are showcasing his love affair with the Jewish state. Continue Reading »
Bloomberg financial news agency just published its index citing near-zero inflation and a low unemployment rate as stabilizing factors in its report determining the Jewish State as the 3rd most stable economy for 2016.
By Zeev Klein and Israel Hayom Staff
Near-nonexistent inflation and a low unemployment rate of 4.8% have helped propel Israel to the No. 3 spot on a list of the world’s most stable and promising economies for 2016 published by the Bloomberg financial news agency.
People visiting shops at the Tel Aviv Central Bus Station – Tahana Merkazit
The Bloomberg list named Hong Kong as the most stable economy in 2016, followed by South Korea. Continue Reading »
The $40-billion acquisition, the largest in Israel’s history, gives Teva Pharmaceutical a large market lead and catapults it into the top 10 pharmaceutical firms globally.
By Arutz Sheva Staff
Teva Pharmaceutical on Tuesday completed its $40 billion acquisition of the generics arm of rival Allergan, a move the Israeli firm hailed as confirmation of its intention to become one of the world’s largest drugmakers.
“Teva Pharmaceutical Industries Ltd. and Allergan plc today announced that Teva has completed its acquisition of Allergan’s generics business (Actavis Generics)” the Israeli company said in a statement.
The $40-billion deal, the largest in Israeli history, was agreed last year but finally confirmed Tuesday. Continue Reading »
#BDSfail: Even before US, Canada & European courts have illegalized BDS for being racist/anti-Semitic, foreign investments in Israel are 3 times greater since the Jewish State was 1st targeted by a coalition of Palestinian groups a decade ago, proving that efforts to isolate Israel have failed.
By Brian Schrauger
Foreign capital flow to Israeli assets hit a record high of $285.12 billion last year, nearly triple of what this figure was in 2005, Bloomberg News reported last week. And while the Israeli economy has been slowing as of late, it is still performing better than that of the United States and other Western nations. Continue Reading »
Israel is under threat from the BDS movement, with severe implications to its economy should it succeed. In order to confront this organized, global threat, Israel must recognize & deal with several questions to create an effective response to the movement.
By Tal Keinan
Let’s be clear on the numbers: The BDS movement is strongest in Europe.
In 2014 – the last year there are full numbers for – 35 percent of Israel’s exports went to Europe. Thirty-two percent of the Israeli GDP is comprised of exports. That means that exports to Europe account for 12 percent of Israeli GDP. Continue Reading »
Originating in South Korea, the 2M Alliance’s Gustav Maersk, will call at Haifa Port on 15th October, representing a new era of economic cooperation, where imports from East Asia are 2nd only to Europe’s.
On October 15th, the largest container ship to ever dock at an Israeli port will enter Haifa Port. The immense Gustav Maersk is 367 meters in length and has a maximum capacity of 10,000 TEU.
Container ship approaching Haifa Port – Photo: PR
The ship is owned by the massive 2M Alliance, which is formed by the world’s two biggest shipping companies: the Danish Maersk, and the Swiss MSC. Continue Reading »
Looking Good: Israel’s Central Bureau of Statistics reports number of employed Israelis has reached 3.64 million, for an all-time high of 60.9%.
• Bank of Israel leaves interest rate unchanged at 0.1%, acknowledging economy is “growing at moderate rate” with Consumer Price Index up 0.6%.
By Zeev Klein
Unemployment in Israel has fallen to an all-time low and the number of employed Israelis has reached an all-time high, the Central Bureau of Statistics said Monday.
An Israeli employment office – Photo: Yehoshua Yosef
According to the bureau’s data, the April jobless rate was just 4.9%, below the psychological threshold of 5%. Continue Reading »
As foreign companies are acquiring the ‘Start-up Nation’s high-profile companies that were providing hundreds of jobs locally, Israel’s market is being brain-drained as they move abroad.
Israeli entrepreneur Avi Brenmiller says he was coaxed by investors into selling Solel, his solar-thermal power firm, to Germany’s Siemens for $418 million in 2009. Today, little is left of it after Siemens pulled out of the business.
ScanDisk in USB port – IsraelandStuff/PP
From a thriving company that employed over 500 people, Solel has been reduced to a factory with 50 workers. Brenmiller’s experience is one of a growing number of cases illustrating the double-edged nature of Israel’s high-tech boom. Continue Reading »
The plunging oil prices that peaked at $103 & now at $65, are having far-reaching implications for the global economy, and the Jewish state with the Saudi Oil Minister saying he’ll sell even to Israel.
By AMOTZ ASA-EL
Oil, once a commercial ace, strategic prince and political joker, is on the skids Hardly half a year since piercing the $100/barrel ceiling and peaking at $103, crude prices this week cracked the $65 floor, as some analysts predicted a $30 barrel sometime next year.
Continue Reading »
Currency exchange rates in Moscow on Monday, when oil prices fell to their lowest in 5 years.