Beating both Ireland or Singapore in the bid to host new Intel plant, Israel dedicates 90 acres for new plant in Kiryat Gat, creating 1,000 new jobs for the US technology company’s $10-billion investment.
– Israel’s Finance Minister Moshe Kahlon, “This is the largest investment ever made in the State of Israel.”
By Gad Lior
The US technology company Intel Corporation has announced it is making a $10-billion investment in a new plant in Israel, that will create around 1,000 jobs over the next few years.
Intel Vice President Daniel Benatar and Intel Israel CEO Yaniv Garty informed Finance Minister Moshe Kahlon and Economic Minister Eli Cohen on Monday that the company’s management decided to make the huge investment in Israel instead of in Ireland or Singapore, which competed against Israel for the establishment of the new plant. 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 »
After Amnesty International launched its campaign calling on the world to “ban Israeli settlement goods” over alleged war crimes, Israel’s Finance Minister is poised to enact an anti-boycott law for first time, meaning Amnesty could lose tax status and other legal consequences under the law.
By Yair Altman
Finance Minister Moshe Kahlon has decided to use his authority under a 2011 anti-boycott law to punish Amnesty International, making it the first organization to face legal consequences under the provisions of the law.
Finance Minister Moshe Kahlon. – Photo: Wikimedia\dikla bassist shafrir
The anti-boycott law, officially known as the Prevention of Damage to the State of Israel through Boycott Law, allows the finance minister to impose civil sanctions on entities that promote or take part in an economic, cultural or academic boycott against an institution or person under Israeli control because of their “affiliation with Israel.” Continue Reading »
Israel’s Public Security Minister opposed the recommendation, but still, an inter-ministerial committee OK’d the export of medical cannabis abroad, even after being warned how Israel may be unprepared to handle the ramifications of the export of this ‘dangerous drug.’
By Eli Senyor, Gad Lior
Israel will soon become a major exporter of medical cannabis and be one of the only nations in the world to officially export the plant to countries that approved it for medicinal use, all the while marijuana remains an illegal, controlled substance in Israel.
According to estimates, revenues from the export of Israeli cannabis could reach about NIS 1 billion a year. Continue Reading »
Israel’s Finance Minister Kahlon is planning to present the Housing Cabinet later this week an “unprecedented strategic blueprint” in an effort to fight soaring housing prices and meet market demands by the increase in home construction of 247% by 2040.
By Zeev Klein
Finance Minister Moshe Kahlon plans to unveil a new plan for tackling rising housing costs at a meeting of the Housing Cabinet scheduled to be held later this week.
The plan, a joint project of the National Economic Council, the National Zoning and Planning Committee, and the Housing Forum, the executive arm of the Housing Cabinet, has been described as an “unprecedented strategic blueprint” in the government’s efforts to meet market demands and fight soaring housing prices. Continue Reading »
Government approves 12 billion NIS ($3.15b) for infrastructure facelift, added health care, improved education and boost in small and medium businesses for northern Israel.
By Chana Roberts
As part of the 2017-2018 budget, the Israeli government is set to spend 12 billion NIS to give northern Israel a facelift.
Interior Minister Aryeh Deri (Shas) and Finance Minister Moshe Kahlon (Kulanu) have proposed a plan outlining changes for the north, including upgrading schools, and building a light rail train between Haifa and Nazareth.
Nazareth at night – Photo: Wikimedia Commons
The Jewish National Fund will also help to fund the projects, investing 3 billion NIS. Continue Reading »