Iran and Russia have finalized an agreement to trade in their local currencies instead of the US dollar, Iran’s state media reported on Wednesday. The agreement was finalized during a meeting between the governors of the two countries’ central banks in Russia, it said. Both Iran and Russia are subject to US sanctions. “Banks and […]
Continue ReadingAmid the ongoing war between Israel and Hamas, a peculiar financial trend has caught the attention of experts and market observers: the strengthening of the shekel against major currencies. Despite the tumultuous Iron Swords operation in Gaza, the representative shekel-dollar exchange rate unexpectedly fell by 0.47% on Friday to NIS 3.5990/$, reaching its lowest […]
Continue ReadingThe compensation plan currently in place for businesses is designed to reflect a decrease in turnover compared to the previous year, but this inadvertently creates an incentive for businesses to underreport their income or conduct transactions off the books. Both of these practices are considered offenses and are subject to scrutiny by the Tax […]
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As the global economic landscape faced headwinds in 2023, Israeli businesses navigated through a challenging year marked by a slowdown in the tech sector, political unrest, and an unexpected war with Hamas. In light of the country’s current hurdles, Eran Mordechai, CEO of Danal Human Resources at Danel Group, shared his insights on the trajectory […]
Continue ReadingThe Israeli Securities Authority’s Investigations, Intelligence, and Market Surveillance Department has uncovered numerous scandals and fraud at the Unite Credit Financial Services Ltd., implicating several senior officials, including former board chairman and finance minister Moshe Kahlon, in a series of crimes. The findings of their investigation have been forwarded to the prosecution’s office. This […]
Continue ReadingThe Israeli public’s credit card use decreased by 15.8% last week, amounting to NIS 1.4 billion less than average, according to data from Sheba. Expenses during the ninth week of the war (December 3 to 9) totaled NIS 7.659 billion, compared to the average weekly expenses of NIS 9.096 billion since the beginning of […]
Continue ReadingPwC Israel has released its comprehensive annual business transactions report for the year 2023, providing a deep dive into the intricate dynamics of mergers and acquisitions (M&A) involving Israeli companies. The report highlights a challenging landscape characterized by a substantial 46% decrease in transaction volume and a 23% decline in the total number of […]
Continue ReadingA new front has emerged in Israel’s fight against the funding of Iran-backed terrorist groups from Hamas to Hezbollah: A fast-growing crypto network called Tron. Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the […]
Continue Reading‘We call ourselves a family, and we mean it when we say that,” says Richard A. Rosenbaum, executive chairman of Greenberg Traurig, the multinational law firm that employs more than 2,650 lawyers in 47 offices throughout the United States, Europe, and Asia. In early November, Rosenbaum (no relation to this writer) and another partner […]
Continue ReadingOver the past few weeks, many companies have published their earnings reports for the third quarter (Q3) of 2023, illustrating performance from July until September. Many of these reports didn’t paint such an uplifting economic picture, as the hi-tech industry has been facing considerable difficulties since the beginning of the year due to the […]
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