Category: Business

Speaking at the Paris Finance Summit, Mr. Guterres said many African States were spending more on debt repayments than on desperately needed healthcare, and that over 50 countries were either in default or “dangerously” close to it. The UN chief called for a debt relief mechanism that supports payment suspensions, longer lending terms and lower […]

The website Booking.com had been imposed a fine of NIS 2.5 million after concealing a value-added tax (VAT) to its purchases from consumers. The website systematically presented its prices in shekels without including the VAT rate applicable. This was in violation of the Consumer Protection Law, which requires the presentation of a “total price” and […]

Haiti The security situation in Haiti “is appalling,” said UN Secretary-General António Guterres, recalling his recent visit to the fragile nation. He called for swift action at a time when the humanitarian needs are “soaring”. And although “there is not yet the political solution in sight”, the UN chief expressed hope and optimism. “It is […]

1.97 million tourists entered Israel in the first half of 2023, still 13% lower than the peak in 2019 before the coronavirus pandemic, according to new data from the Tourism Ministry. The total revenue from foreign tourism in the first half of 2023 is estimated at NIS 11.7 billion, compared to NIS 5.4 billion in […]

Renewables and energy industry leader Iberdrola is back for another startup challenge! This time, Iberdrola seeks innovative ways to monitor underground cables across its vast electricity network. The Iberdrola Underground Cable Monitoring Startup Challenge invites startups and emerging companies to apply and offers exciting benefits for the winner(s). Iberdrola operates more than 400,000 Transformer Centers […]

With Twitter already on the ropes, Meta’s Mark Zuckerberg delivered another blow to Elon Musk on Wednesday, ramping up the tech billionaires’ rivalry with the launch of Instagram’s much-anticipated companion service Threads, a challenger to Twitter. “Let’s do this. Welcome to Threads,” Zuckerberg wrote in his first post on the app, along with a fire […]

He stressed that AI must benefit everyone, including the third of humanity who are still offline, and insisted on the need to urgently find consensus on what the guiding norms for AI deployment should be. The UN chief was speaking at the “AI for Good” summit organized in Geneva by the International Telecommunication Union (ITU), […]

World stocks fell for a third straight day, as strong US jobs data bolstered bets on another US interest rate hike this month and tit-for-tat trade salvoes between China and the United States also dampened sentiment. Traders watched the traditional driver of global borrowing costs, the 10-year US Treasury yield US10YT=RR, climb to a fresh […]

According to a new UNCTAD report, developing countries actually face a staggering $4 trillion gap in sustainable development investments. UNCTAD Secretary-General Rebeca Grynspan said that a “significant increase” in material support for renewable energy in developing countries is “crucial” for the world to reach its climate goals by 2030. Poorer countries left behind While investment in […]

The average monthly gross salary of employees in Israel rose by 5.3% in May 2023 to NIS 12,009, compared with May 2022, the Central Bureau of Statistics reports. Almost the entire rise was eroded by inflation, which was 4.6% over the 12-month period.  The average monthly gross salary in May fell from NIS 12,622 in […]