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The ethics council of Norway’s $1.6 trillion wealth fund says it is investigating whether companies in which it holds shares fall outside its permitted investment guidelines due to the war in Gaza. The world’s largest sovereign wealth fund, which owns 1.5% of the world’s listed shares across 8,800 companies, operates under ethical rules set by […]
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The atrocious October 7 Hamas attack and war have resulted in significant challenges to the Israeli economy. The monthly “burn rate” on ammunition, fuel, spare parts, and other direct war expenses is estimated to exceed two billion dollars. Added to that is the value of repairing the property damage to communities along the Gaza and […]
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One of the world’s leading entities in advanced agriculture is exploring opportunities for significant economic upliftment in the Bedouin community of the Negev. The intriguing twist? It’s an Israeli enterprise founded by former Israeli Air Force personnel. Traditionally, much of Bedouin society revolves around agriculture, primarily focusing on animal husbandry, seasonal crops, and spice cultivation. […]
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The price of gasoline in Israel will rise Thursday night to NIS 7.51 per liter, a month-over-month increase of 13 agurot. The change will take place at midnight, on March 1. The increase, announced on Wednesday by the Energy Ministry, will not be mitigated by the Finance Ministry’s usual subsidy, which Finance Minister Bezalel Smotrich […]
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European retail industry body Eurocommerce called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade, saying in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have rerouted container vessels away from the Red Sea to avoid Houthi militant […]
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The US will not follow Britain and Japan into recession because of a fundamentally stronger recovery that has enabled healthy consumer spending, with Biden administration spending on infrastructure and clean energy fostering business investment, White House economic adviser Lael Brainard said on Thursday. Brainard told reporters at an economics conference that continued US growth would […]
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Israeli investors are not excited about Moody’s credit rating downgrade of Israel, and the Israeli stock market responded on Sunday morning with relatively moderate declines, with a decrease of around 0.4% in the TA-35 index and around 0.5% in the TA-125 index. Local players in the financial sector expect the stock market to continue to […]
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Credit ratings agency Moody’s on Friday concluded its review of Israel and downgraded the country to “A2” from “A1”, citing material political and fiscal risks for the country due to its war with the Palestinian terrorist group Hamas. “While fighting in Gaza may diminish in intensity or pause, there is currently no agreement to end […]
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Despite the ongoing conflict between Israel and Hamas, the Bank of America (BofA) said Israel is doing pretty well. In its Global Economic Weekly report published Friday, BofA said that Israel’s budget deficit is getting bigger but is still under control. Inflation in Israel is going down, and if there is a ceasefire, inflation could […]
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The impact of a country’s credit rating downgrade on citizens’ wallets begins even before the actual downgrade occurs. Markets, in practice, do not wait for the official downgrade announcement and already demand higher interest rates. This translates to tangible consequences for citizens who are faced with increased borrowing costs and reduced access to affordable loans. […]
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