Tag Archive for Israel economy

| August 31, 2014
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In Peace & After War, Israel’s Economy Continues to Grow

Report demonstrates that according to nearly every economic indicator, Israel’s economy continues to soar by leaps and bounds.

By Hillel Fendel

 

Wherever good news for Israel is to be found, Yoram Ettinger is there to publicize it. A long-time government consultant for US policy and projects, Ettinger now writes of a new economic study showing that “sustained, impressive growth of Israel’s economy throughout the last 30 years.”

Israel's hi-tech industry helping to power a resilient economy

Israel’s hi-tech industry helping to power a resilient economy – Reuters

The study was published earlier this month by Dr. Adam Reuter, CEO of Financial Immunities Consulting and the Chairman of Reuter-Maydan Investment House. Continue Reading »

Category: Israel News | Tags: , ,
| June 24, 2014
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Chinese engineering firm to build $1b private shipping port in Ashdod

Now that China Harbor will be developing the port in Ashdod, Jerusalem can use this new port as a bargaining chip with dockworkers’ unions. No longer will the country be blackmailed with union strikes costing Israel millions in lost revenues.

By Avi Bar-Eli

 

The first private port to be developed under the state’s port reforms will be located in Ashdod and built by China Harbour Engineering Company, a Chinese government-owned firm, TheMarker has learned.

Shipping containers being unloaded in Ashdod. Soon to have a rival port.

Shipping containers in Ashdod Port. – Photo: Ilan Assayag

China Harbour, which won the international tender to construct two new private ports a week ago, opted Sunday to develop the southern port in Ashdod, instead of the northern one in Haifa.

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Category: Israel News | Tags: , , ,
| May 27, 2014
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Israel to Become a Cashless Society

 

Netanyahu-appointed committee looks to end Israel’s massive black market by ending cash transactions therefore recovering lost tax revenues.

By Yossi Aloni

 

A special committee headed by Prime Minister Benjamin Netanyahu’s chief of staff, Harel Locker, has recommended a three-phase plan to all but do away with cash transactions in Israel.

Israeli coins

10 New Shekel coin – Israel Today

The motivation for examining a cash-less economy is combatting money laundering and other tax-evasion tactics, thereby maximizing potential tax collection and greatly expanding the tax base. This is important considering the enormous strain put on Israel’s national budget by the army, healthcare system and other public services. Continue Reading »

Category: Israel News | Tags: ,
| May 26, 2014
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Observation: Israel replacing the EU by shifting eastward for economic growth

Europe’s economic & political stagnation, constant condemnation of Israeli policies and deep rooted legacy of anti-Semitism set it apart from East Asia.

By Moshe Arens

 

 

Slowly but surely Israel is pivoting toward the East. Years ago that would have been a most unexpected development. After all, most of Israel’s population originated from Europe, and most of its leadership had its roots in Europe. For many years Israel might have been considered, for better or for worse, an outpost of Europe in the Middle East. Whether Europe loved Israel or hated Israel, Europe remained Israel’s closest connection to Western civilization.

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| May 1, 2014
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The Falafel Index: Israel home to the most expensive Falafel in pita

Forbes magazine’s new purchasing index concludes that Israel’s shekel is one of the most overvalued currencies in the region.

By

 

The Israeli shekel is among the most overvalued currencies in the Middle East and food prices in Israel have increased more than in any other developed country since 2005, according to a new purchasing index from Forbes magazine called the Falafel Index.

The Falafel Index

The Falafel Index is a version of the Economist’s Big Mac Index tailored for the Middle East.

Like its older counterpart, the Falafel Index determines the purchasing power of different currencies – but rather than comparing hamburgers, it compares the prices of falafel across the region. Continue Reading »

Category: Mid-East News | Tags: , ,
| March 24, 2014
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For 1st time, IDF published data of pensions being paid

Revealing retirement benefits data for 1st time, IDF is paying out 6.8 billion shekels in 2014 to some 35,000 retirees, with ex-combat soldier, 82, leading pension payments at 63,000 shekels per month.

By

 

 

In response to a request from Haaretz, the Israel Defense Forces Spokesperson’s Office has published a list revealing the highest pensions being paid to former army personnel. Topping the list is an 82-year-old former combat soldier who receives some 63,000 shekels per month.

IDF Chief of Staff Gantz.

IDF Chief of Staff Gantz oversees a military drill. – Photo by IDF Spokesperson’s Unit

The army is expected to pay some 6.8 billion shekels to about 35,000 retirees (the army censor does not allow publication of the exact number) in 2014.

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Category: Israel News | Tags: , ,
| March 23, 2014
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Israel contracts journalist to film Pope’s visit to Israel for tourism promotion

The Portuguese born reporter says he’ll film the documentary to foster good relations between the Pope, the Jewish people & Israel.

By

 

 

The Tourism Ministry is paying 215,000 shekels ($61,800) to a Portugal-born, Israel-based journalist for 14 filmed news reports on Pope Francis’ visit to Israel in May. The ministry plans to use the footage to promote tourism to the country.

Pope Francis and President Shimon Peres exchange greetings during a private meeting at the Vatican.

Pope Francis and President Shimon Peres exchange greetings during a private meeting at the Vatican, April 30, 2013.- Photo: Reuters

The reports by journalist Henrique Cymerman will be broadcast on Catholic-oriented television stations and websites around the world.

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Category: Israel News | Tags: , , ,
| March 19, 2014
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What a great year for Israel! PM presents govt’s accomplishments for 2013

 

Israel’s growth in 2013 among highest in the West: 3.3% compared to OECD average of 1.2%.
Unemployment among the lowest worldwide, at 6.2% compared to OECD average of 8%.
National deficit shrunk from 3.9% to 3.2%.
Growth in GDP per capita twice that of other developed countries.

By Shlomo Cesana

 

In the year since the new government was formed, Israel has invested in connecting its southern and northern regions with the population-dense center, put an end to illegal migration from the southern border and performed well economically, Prime Minister Benjamin Netanyahu said at the Negev Conference in Sderot on Tuesday.

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Category: Israel News | Tags: ,
| March 18, 2014
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Israel’s trade deficit took a sharp decline for 2013

 

Economy and Trade Ministry’s Foreign Trade Administration reports Israel’s trade deficit amounted to $2.3 billion in 2013 compared to 2012’s $8.5 billion.

High-tech industry accounts for 81% of Israel’s industrial exports for 2013.

By Hezi Sternlicht and Israel Hayom Staff

 

A new report by the Economy and Trade Ministry had found that Israel’s trade deficit has marked a sharp decline in 2013, after rising steadily between 2010 and 2012, coming to $2.3 billion at the end of 2013 from $8.5 billion in 2012.

The report, composed by the ministry’s Foreign Trade Administration and released Sunday by its chief, Ehud Gonen, found that the trade in goods and services rose by 4 percent in 2013, mainly in industrial exports by the high-tech industry, which accounted for 81% of all industrial exports in 2013.

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Category: Israel News | Tags: ,
| February 20, 2014
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Israel signs $500 million natural gas export deal with Jordan

 

This is the1st export deal from the Tamar field off Israel’s coast, supplying natural gas over 15 years to 2 separate Jordanian companies.

By and Reuters

 

The partners in the Tamar natural gas field off Israel’s Mediterranean coast signed their first export deal, to sell at least $500 million of gas over 15 years to two Jordanian companies.

Tamar

The platform at the Tamar offshore gas field. – Photo: Albatross

Under the agreement, Tamar will supply 66 billion cubic feet of gas a year to Arab Potash and its unit, Jordan Bromine – a joint venture with U.S.

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Category: Israel News | Tags: , , ,
| February 19, 2014
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Bank of Israel chief warns ultra-Orthodox & Arab sectors could drag economy backward

 

Dr. Karnit Flug, the Bank of Israel Governor, believes a tax increase may be required to meet needs created by growing demographic trends in Arab and haredi sectors.

United Torah Judaism MK calls Flug’s comments “incitement.”

By Hezi Sternlicht, Zeev Klein, Yehuda Shlezinger

 

Current demographic trends could cause Israel’s economy to regress in terms of employment rates, Bank of Israel Governor Dr. Karnit Flug warned Monday.

Bank of Israel Governor Dr. Karnit Flug – Photo: Lior Mizrahi

Flug, speaking at a Central Bureau of Statistics seminar, said that “the makeup of the population is expected to change, with greater weight comprised by the Arab and especially the haredi sectors.” Continue Reading »

Category: Israel News | Tags: , , ,
| February 15, 2014
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Planned Med-Red rail freight line may become ‘Israel’s Suez Canal’

Whether or not the plans to connect Red Sea resort city of Eilat with Ashdod on the Mediterranean by rail, competes with Egypt, it’s likely to boost ties with China.

By Blair Cunningham

 

It has been called Israel’s potential Suez Canal. A planned rail freight link could provide an alternative to the famed Egyptian waterway.

A convoy of container ships pass southbound along the Suez Canal towards Suez, Egypt.

A convoy of container ships pass southbound along the Suez Canal towards Suez, Egypt, on Saturday, April 6, 2013.- Photo: Bloomberg

The project would connect the 300-plus kilometers between Eilat on the Red Sea and Ashdod Port on the Mediterranean. And it could be the chance for China to gain a foothold in the region.

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Category: Israel News | Tags: , , , ,
| February 2, 2014
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Analysis: Breaking down the economic impact of Israeli-Palestinian peace

 

Will a peace deal bring economic growth to both sides or will the only ‘boom’ be that of rockets bringing down Israel’s economy?

By NIV ELIS
 

 

A rift has emerged between the two ministers most responsible for shaping Israel’s economy, Finance Minister Yair Lapid and Economy Minister Naftali Bennett.

A McDonald's restaurant in Israel. - Photo: REUTERS/Ronen Zvulun

A McDonald’s restaurant in Israel. – Photo: REUTERS/Ronen Zvulun

Though normally allies, even “brothers” on economic issues, politics pulled them apart in the past two weeks over the economic implications of peace talks with the Palestinians.

Bennett fired the first salvo. At a Bayit Yehudi faction meeting on January 20, he declared George H.W. Continue Reading »

Category: Israel News | Tags: ,
| January 24, 2014
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Israel on List of 10 Most Powerful Nations In World

National Power Index ranks Israel 10th in recent study. The research is composite index of factors including economic & military capabilities.

By Ari Yashar

 

Israel, the tiny nation that defied history in coming back to life after 2,000 years of exile, is among the top 10 most powerful nations in the world according to a recent research study.

Market Business News recently reported on the 2012 National Power Index (NPI), released by the Foundation for National Security Research (FNSR), a New Delhi-based think tank. The study is a comprehensively revised version of the previous indexes published in India’s National Security Annual Review (INSAR) since 2002. Continue Reading »

Category: Israel News | Tags: ,
| January 23, 2014
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Israel’s PM to talk numbers at Davos economics conference

 

Justice Minister Tzipi Livni will hype peace talks warning that lack of agreement with Palestinians will be negative on country’s prosperity

By Yuval Karni

For the first time in 16 years, a sitting Israeli prime minister will participate in an economic conference in Davos. The last time it happened it was also Benjamin Netanyahu, during his first term as prime minister.

A protester at the Davos forum last year (Photo: AP/Archive)

A protester at the Davos forum last year – Photo: AP/Archive

But an even rarer sight will be seen at the annual World Economic Forum in Davos in the coming days – the prime minister and President Shimon Peres, together, representing Israel outside of the country’s borders. Continue Reading »

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