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Jan 15, 2025 | 
en.globes.co.il | Sponsored SponsoredUndo |Bar Lavi |Aharon Katz
Keystone Fund plans data center in Be'er Tuvia power plant Treasury chief Shlomi Heisler to step down Market sources are optimistic about broader regional moves, including the possibility of renewed talks with Saudi Arabia, which could transform the Middle East. The financial markets in Israel have in recent days been behaving as if they know something we don’t.
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Jan 14, 2025 | 
en.globes.co.il | Bar Lavi
The shekel has strengthened sharply against the US dollar this morning, and the assessment on the market is that the main reason is the substantial progress reported on a deal to obtain the release of Israeli hostages held by Hamas and a ceasefire in the Gaza Strip. The dollar-shekel exchange rate is currently at NIS 3.6328/$, 1.07% lower than yesterday’s representative rate. In the past few months, the shekel has been one of the strongest currencies in the world.
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Dec 3, 2024 | 
en.globes.co.il | Adam Neumann |Bar Lavi
"From WeWork I learned two things: to choose my business partners better and to understand who my friends are," Adam Neumann, founder and partner in WeWork and Flow, confessed in a special address to the Globes Business Conference. Neumann spoke about the insights from his personal and professional journey, promised that business would flourish under Donald Trump's upcoming term as US president and called for the release of the hostages held in Gaza.
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Oct 6, 2024 | 
en.globes.co.il | Bar Lavi
In a survey of the Israeli economy, Swiss bank UBS notes that the economy has been in a challenging and complex situation since the attack by Hamas on October 7, 2023, and sets out projections for the shekel on the basis of three scenarios. "The GDP and fiscal hit to the Israeli economy since 7 Oct 2023 amid lingering uncertainty about the duration of the war, has taken the toll on Israeli assets," the banks analysts write.
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Oct 1, 2024 | 
en.globes.co.il | Benjamin Netanyahu |Bezalel Smotrich |Bar Lavi
International ratings agency S&P has downgraded Israel's sovereign credit rating for the second time within the space of a few months and reiterates a negative outlook, which means a further cut is expected in the coming 18 months. The rating was cut from A+ to A - a medium to high rating.
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Sep 23, 2024 | 
en.globes.co.il | Bar Lavi |Ela Levi-Weinrib |Dubi Ben Gedalyahu
The Ministry of Finance unveiled drastic measures today, with cuts worth NIS 35-40 billion to narrow Israel's ballooning fiscal deficit to 4% in 2025. The measures were revealed in the draft on taxation and the campaign against black capital, as part of the economic arrangements bill, which will accompany the 2025 budget.
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Aug 22, 2024 | 
globes.co.il | Goldman Sachs |Bar Lavi
Two macro figures that are worrying for the Israeli economy hit us recently. The first was the Consumer Price Index reading for July, which showed inflation running at an annual rate of 3.2%, which is above the Bank of Israel’s target range, and higher than market forecasts.
This is contrary to the trend of moderating inflation in the US and Europe. The second figure is the 1.2% annualized growth rate in the second quarter, dramatically lower than market expectations.
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Aug 13, 2024 | 
globes.co.il | Benjamin Netanyahu |Bezalel Smotrich |Bar Lavi
Fitch has downgraded Israel’s credit rating to A from A+, with a negative outlook. In other words, the international credit ratings agency thinks there is a high likelihood of an additional rating cut soon. Fitch’s rating cut for Israel follows a similar move by the two other major international credit ratings agencies - Moody’s and S&P - in the first half of 2024. The main reasons for the cut were the continuing war, geopolitical risks and the consequent fiscal results.
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Jul 1, 2024 | 
globes.co.il | Bar Lavi
"I have said all along the way, together with all the senior officials at the Ministry of Finance, that equal sharing of the burden is a basic, vital rule, from an economic point of view as well." Behind this forthright statement stands Ministry of Finance director general Shlomi Heisler, who puts a high price tag on failure to change the situation.
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Apr 18, 2024 | 
en.globes.co.il | Bar Lavi
Due to the conflict with Iran, the ongoing war in Gaza and the escalation on the northern border, international ratings agency S&P has announced that it has cut Israel's credit rating from A+ to AA-. In addition Israel's credit outlook has been downgraded from 'stable' to 'negative.' The announcement was unexpected, with S&P's official decision on Israel's credit rating not expected until May 10. Why has this happened?
