Category: Business

Elbit Systems, one of Israel’s three largest defense companies, announced Sunday that it was awarded a $135 million contract to establish an artillery ammunition factory for an international customer. “The contract will be performed over a period of two years,” the company said.  This comes after the company’s Swedish subsidiary was awarded a contract worth […]

A group of Israeli cyberhackers claimed over the weekend that they had hacked into the main project management system for oil infrastructure in Iran. According to WeRedEvils, which has been operating in a non-official capacity since the beginning of Operation Swords of Iron, the hacked system is responsible for supplying fuel and oil to all […]

On October 3, the OECD published a new super tax treaty (known as a multilateral instrument or MLI) that should increase tax revenues for countries that want them. Strangely, it seems Israel isn’t interested in those extra tax revenues, although it is an OECD member. The OECD is progressing with various international tax reform initiatives, […]

Finance Minister Bezalel Smotrich has unveiled a substantial funding expansion for the Israel Innovation Authority’s Fast-Track program in a strategic move aimed at shoring up the country’s hi-tech sector during a period of uncertainty caused by ongoing hostilities. The budget allocation for the program will be quadrupled, soaring from NIS 100 million to a robust […]

Courtney Carey, a resident Dublin, Ireland was fired by Israeli tech company Wix for calling Israel a “terrorist state” and Zionism “the root of violence” against Gaza amid the war between Israel and Hamas. Wix employs several hundred people in Dublin. Carey held the position of Customer Care Team Lead. Carey posted on LinkedIn after […]

Elbit Systems Sweden was awarded a contract worth $170 million to become an “integration partner” for the Swedish army’s digitization program. Elbit Sweden is a subsidiary of Elbit Systems in Israel. Elbit is one of Israel’s three largest defense companies. The contract will be performed over a ten year period, the company said. “To be […]

S&P Global revised Israel’s outlook to “negative” from “stable” on Tuesday, citing risks that the Israel-Hamas war could spread more widely with a more pronounced impact on the economy and security situation in the country. Last week, peer Fitch placed Israel’s sovereign debt rating of “A+” on rating watch negative and warned that a major […]

There have been numerous instances in the past where the public has been taken aback by revelations about various banks. Typically, these revelations come from journalists and news outlets. However, this time, it was an unexpected source. On her Instagram account, influencer Einav Booblil disclosed that the B’Tselem organization maintains a bank account with Discount […]

The Bazan Group continues to help civilians who have been directly or indirectly affected by the fighting and has increased its assistance budget to NIS 30 million, following its initial aid package of NIS 1.5 million. The Group will focus its assistance on helping to provide housing solutions for evacuees from the front, mental health […]

As a result of the ongoing war, Israel’s economy has already lost NIS 4.6 billion, according to an analysis from the Manufacturers Association.  Reasons for these severe monetary losses include employees failing to come to work, and overall reduced production during wartime.  For context, 1.3 million workers did not arrive at work during the week […]