Category: Business

The government published a bill on September 6 that aims to tighten up Israeli rules for taxing offshore-controlled foreign companies (CFCs) and foreign professional companies (FPCs). The Israeli proposals have echoes of US GILTI (global intangible low-taxed income) rules in the US. Israeli CFC rules aim to tax Israeli resident shareholders on deemed dividends […]

Michael Bloomberg, co-founder of Bloomberg LP, outlined a succession plan for the financial information and news company, saying that his foundation Bloomberg Philanthropies will inherit it and then eventually sell it, the New York Times reported. The former New York City Mayor made the announcement at the Climate Summit hosted by the newspaper on […]

The New York Stock Exchange was filled with blue and white Israeli flags on Tuesday, in honor of Economy Minister Nir Barkat’s visit to Wall Street.  The minister presided over a special ceremony and the crowd cheered when he rang the Stock Exchange’s iconic bell, which signals the end of the day’s trading. At […]

Teralight, a prominent player in the global solar energy sector, has just announced a pivotal development in its operations within the Canadian market. The company, known for its innovative approach to renewable energy, unveiled a Memorandum of Understanding (MOU) that paves the way for a significant electricity sale worth approximately NIS 800 million. The […]

An agreement for scientific and technological cooperation between Israel and Great Britain was signed in London on Wednesday. Minister of Innovation, Science and Technology MK Ofir Akunis, who traveled specially to the UK for the event, and his British counterpart George Freeman, signed the accord.  “This agreement will contribute to scientific and technological cooperation […]

The big objective of the major UN General Assembly meeting is to unlock innovative and practical solutions to close the widening divisions between rich and poor. The UN Department of Economic and Social Affairs which drives the UN’s effort on SDG financing, notes that although fiscal challenges are mounting, “there is a window of opportunity […]

Heads of State, Foreign Ministers, and other top representatives are converging to endorse multilateral treaties which form the bedrock of international legal frameworks. “Multilateral treaties are essential tools for Member States to achieve the objectives of the UN Charter,” emphasized David Nanopoulos, Chief of the Treaty Section at the UN Office for Legal Affairs (OLA). […]

A Swiss Airlines flight bound for Bilbao, Spain, created chaos for 111 passengers when it departed from Zurich without their luggage.  The incident two weeks ago left passengers frustrated and bewildered upon landing as they stood by the empty luggage conveyor belt. According to reports from The Insider website, the flight, operated by Swiss […]

Israel’s national gross domestic product (GDP) rose by 3.1% in the second quarter of 2023, the Central Bureau of Statistics said Tuesday. Meanwhile, the GDP per capita rose by 1.2%. The import of goods and services fell by 9.7% in the second quarter of 2023 as well. Private consumption expenditure rose by 0.5% in […]

According to the UN Conference on Trade and Development (UNCTAD), this represents between $1,179 and $1,383 per person, per year.  The study factors in 50 SDG indicators across 90 countries, covering three quarters of the global population.  For the world’s 48 developing economies, the shortfall is estimated at $337 billion annually, if they are to […]