Category: Finance

The shekel weakened more than 2% before regaining slightly to trade 1.4% lower and the main indexes on Tel Aviv Stock Exchange edged slightly down as Prime Minister Benjamin Netanyahu’s coalition appeared to delay the Judicial Selection Committee vote on Wednesday. The judicial drive, announced in January only a week into Netanyahu’s return to office, […]

After then-prime minister Yair Lapid’s visit to the White House in July 2022, a joint communiqué was issued. Among other things, it stated: “The United States and Israel affirm that among the values the countries share are an unwavering commitment to democracy, the rule of law, and the calling of ‘Tikkun olam,’ repairing the world.” […]

An Israeli court has ruled that if a foreign group buys the shares of an Israeli tech start-up, strips out the IP (intellectual property) and terminates the Israeli company, the company must pay tax on the IP stripped out (Medtronic Vs. Kfar Saba Assessing Officer, District Court Civil Appeal 31671-09-18, June 1, 2023). This is […]

The largest US-based Israeli-owned bank is launching a project to support Israeli Defense Force (IDF) veterans experiencing Post Traumatic Stress Disorder (PTSD) following active military service – in cooperation with an Israeli NGO. IDB Bank (IDB), a New York-based private and commercial bank, has partnered with Israeli nonprofit organization Invisible Album to raise both awareness […]

The governor of the Bank of Israel, Amir Yaron, is set to meet with the CEOs of banks in Israel on Tuesday in light of heavy profits made by the banks due to higher interest rates in the past year, KAN news reported on Monday. The meeting also comes as MKs call for legislation concerning […]

Credit card spending in Israel has grown in recent months, with a 7.2% jump in May 2023 in comparison to May 2022, according to data from Sheba Automated Bank Services. According to the data, total expenses amounted to NIS 40.942 billion, a marked increase of 9.2% compared to April. In addition, the average daily expenditure […]

Teddy Sagi continues to write off public companies where he is invested while injecting tens of millions of dollars out of his own pocket to privatize them. After cybersecurity developer – kape, comes Best of the Best (BOBT), which is traded on AIM. The company, where Sagi holds 29.9%, informed the Tel Aviv Stock Exchange […]

At the beginning of 2023, the EU implemented new reporting rules in EU Directive DAC 7 for digital platform operators everywhere, including, potentially, Israel. The EU has around 450 million affluent consumers in 27 countries. Here is an overview of DAC 7: Which platforms?  A platform is broadly defined and includes any software, such as […]

The governor of the Bank of Israel, Amir Yaron, called on Prime Minister Benjamin Netanyahu to block a bill which would require banks to pay interest on the balance of checking accounts on Tuesday, according to Globes. The bill, which was approved on Monday by the Ministerial Committee for Legislative Affairs, would have the banks […]

Competition Commissioner Michal Cohen met with Governor of the Bank of Israel Professor Amir Yaron on Thursday to discuss the possibility of declaring banks as a “concentration group,” a situation where a small number of companies or organizations dominate a particular sector or industry with little competition between them. The Competition Authority has found limited […]