Category: Business

As of May 2023, the average nominal wage across the economy stood at approximately NIS 12,440, according to data provided by the Central Bureau of Statistics (CBS), representing a notable 6.2% increase when compared to May 2022. The annual growth rate of the nominal wage, analyzed on a seasonal basis using the quarterly average change […]

Israeli Economy Minister Nir Barkat has embarked on an official visit to Vietnam, accompanied by a delegation of 21 Israeli companies. The trip follows the recent signing of a free trade agreement between Israel and Vietnam, marking the third such pact with an Asian nation in recent years, following agreements with South Korea and the […]

Israeli company Rafael Advanced Defense Systems has announced that it has been awarded a new contract with an Asian nation to provide comprehensive maintenance support services for operational systems employed by its navy. The multi-year agreement is worth an estimated NIS 100 million ($30 million dollars) and will include maintenance services for the navy’s TYPHOON […]

As ChatGPT, the innovative AI-powered chatbot developed by OpenAI, gains popularity among workers in the United States for accomplishing routine tasks, a cloud of uncertainty hovers over its future. Businesses have begun questioning the extent to which ChatGPT should be embraced while safeguarding against potential data security breaches and intellectual property leaks. This intriguing juxtaposition […]

Visa, Bank Leumi, and United Airlines announced their launch of new credit card in Israel, according to a Thursday press release. New cardholders are to be automatically enrolled in United Airlines’ customer loyalty program, United MileagePlus. The United website notes that this program offers the “most ways to earn and use miles and the most […]

In just a few days, I’ll celebrate 31 years of living in Israel! As I’ve mentioned many times, I came straight out of university and landed here with nothing other than a suitcase and some books. While it wasn’t easy at first and it took a bit of time to land a stable job, I […]

Recent findings from Bank Hapoalim and KANTAR’s Consumer Confidence Index have revealed noteworthy shifts which cast a favorable light on Israel’s economic landscape, despite its ongoing political concerns. The index, which measures consumer sentiment, saw a rise of 1.2 points in July 2023, reaching a level of 126.3 points. This upswing in consumer confidence reflects […]

Israel’s Embassy in India announced recently that they have reached an agreement with Indian organizations to provide expertise and resources to start-ups and companies in the water industry.  Israeli Ambassador Naor Gilon signed a Memorandum of Understanding (MOU) on August 3rd with Karanpal Singh – the founder of India-based venture capital firm, Hunch Ventures, and […]

Every evening as the sun sets, Tel Aviv offers a breathtaking view. As the day slowly draws to a close, the sky transforms into a stunning canvas of pink, magenta, and violet. The sun becomes a brilliant orb of fiery orange, as it slowly disappears below the horizon. For tourists and locals alike, there is […]

Israelis have increased their credit card spending by 6.2% since last year, with credit card transactions in Israel totaling NIS 41.2 billion in July 2023, according to Shva, the payment processing company that handles all credit payments in Israel. Israeli credit transactions totaled NIS 38.8 billion in July 2022, meaning transactions have increased by NIS […]