Tag Archive for Israel economy

| April 7, 2020
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Fuel prices drop in Israel to lowest levels in over a decade

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.

By i24NEWS

 

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 »

Category: Israel News | Tags: , ,
| January 23, 2019
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Bloomberg index places Israel as 5th ‘Most Innovative Economy’ in the world

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.

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Category: Innovations & Discoveries | Tags: , , ,
| March 13, 2018
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OECD report: Israel is one of world’s strongest economies

– 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 »

Category: Israel News | Tags: , , ,
| March 3, 2018
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Warren Buffett props up Israel’s Teva Pharmaceutical with $350 million stake

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.

BY MAX SCHINDLER

 

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 »

Category: Israel News | Tags: , , ,
| April 18, 2017
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Financial Report: Israel ranked 3rd ‘Most Stable Economy’ for 2016

 

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 »

Category: Israel News | Tags: , ,
| August 3, 2016
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Israel’s top generic drugmaker buys rival in $40 billion acquisition

 

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 »

Category: Israel News | Tags: ,
| June 9, 2016
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Analysis: 10 years of global BDS movement has had zero economic impact

#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 »

Category: Israel News | Tags: , ,
| March 26, 2016
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Analysis: Addressing BDS and its existential threat to Israel

 

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 »

Category: Israel News | Tags: , ,
| August 18, 2015
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Haifa Port to Receive Its Largest Container Ship Ever

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.

Ynetnews

 

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 »

Category: Israel News | Tags: , , , ,
| May 26, 2015
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Israel Reaches Historic Low: Unemployment Rate Drops to 4.9%

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 »

Category: Israel News | Tags: , , ,
| February 18, 2015
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Israeli economy grew by a whopping 7.2% in 4th quarter of 2014

Israel’s Central Bureau of Statistics reports the Israeli economy’s performance in 4th quarter of 2014 indicates strong recovery from slowdown after summer’s Operation Protective Edge
• Data affirms projections saying Israel’s economy likely to grow during 2015.

By Zeev Klein & Hezi Sternlicht

 

The Israeli economy has recovered from the relative slowdown that followed last summer’s Operation Protective Edge in the Gaza Strip, marking 7.2 percent growth in the fourth quarter of 2014, the Central Bureau of Statistics said Monday.

Operation Protective Edge was followed by accelerated economic activity [Illustrative] – Photo: Rafael Ben-Ari

The third quarter of 2014 saw growth dip to 0.6 percent over the Gaza campaign.

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Category: Israel News | Tags: , ,
| January 20, 2015
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Israel’s high-tech boom is double-edged sword on local economy

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.

By Reuters

 

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 »

Category: Innovations & Discoveries, Israel News | Tags: , , , , , ,
| December 7, 2014
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Oil prices plunge with OPEC no longer able to blackmail the free world to choke Israel

 

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.

Currency exchange rates in Moscow on Monday, when oil prices fell to their lowest in 5 years.

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Category: Israel News | Tags: , , ,
| November 26, 2014
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Israelis protest against Jerusalem’s planned water pipeline to Jordan

Government says channel, costing approximately $15.8 million less than alternative plan, is slated to pass through land of 4 Jordan Valley kibbutzim, and won’t harm their farmland.

 

About 100 Jordan Valley residents held a demonstration on Tuesday to protest a planned pipeline that would convey water from Lake Kinneret to the Hashemite Kingdom of Jordan, claiming that the pipeline will ruin large open areas through which it is slated to pass. Israel is obligated by its bilateral peace agreement to provide water from Lake Kinneret to its neighbor.

The southern Jordan River

The southern part of the Jordan River. – Photo: Yaron Kaminsky

Opponents to the plan want the water to be sent to the Jordanians via the existing Jordan River channel, from the Degania dam to the old Naharayim electric power station, and from there to Jordan.

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Category: Israel News | Tags: , , , , , ,
| September 29, 2014
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British energy expert says Israel’s natural gas bonanza is an illusion

Expert says Israel’s export costs to Far East will be much higher than competitors for all-important market, and suggests the LNG be used mainly for Israel’s domestic needs.

 

The national consensus holds that the discoveries of huge offshore natural gas fields in recent years amount to an economic revolution, one that will put the economy on easy street for generations to come. A leading British energy expert, however, says it’s an illusion.

leviathan - Courtesy Albatross - July 8 2011

Drilling at the Leviathan natural gas field off the Mediterranean shore. – Photo: Courtesy Albatross

“Exporting gas as LNG [liquefied natural gas] is very expensive. Israeli gas isn’t competitive enough to compete with LNG from other countries,” says Nick Butler, one-time senior energy adviser to former Prime Minister Gordon Brown, and former vice president for strategy and policy development at British Petroleum Group, in an interview with Globes’ Hedy Cohen.

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Category: Israel News | Tags: , , ,
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