Category: Finance

Hercules was famous for holding the world on his shoulders, but it seems he really held the sky on his shoulders instead of Atlas, in return for three golden apples. Recently, US President Joe Biden pulled off a similar feat. He couldn’t persuade Congress to adapt US tax law to fit in with a 15% […]

The Azrieli Foundation has announced a new donation of NIS 180 million over five years to the Darca Network, which includes NIS 300m. earmarked for an educational empowerment program. This donation comes five years after the foundation’s initial NIS 110m. donation. The Darca Network is a group of 47 high schools that was founded 12 […]

Economic growth in the Palestinian territories is expected to slow in 2023, according to a World Bank report released in late April. The report explained that the territories had seen 4% economic growth in 2022, which was attributed to reduced COVID-19 restrictions, but projected that geopolitical tensions and the effects of the Russian invasion of […]

The rise in interest rates in Israel over the past year will increase the annual interest expenses of households and companies by 60-80 billion shekels compared to the situation before the interest rate started to climb, Alex Zabezhinsky, the chief economist of Meitav Investment House, says. Zabezhinsky is considered to be one of the most […]

8fig, one of the first companies to develop a platform based on automation for planning, operating and financing business plans for e-commerce players, has completed a $140 million Series B financing round. Founded three years ago, this is the company’s biggest financing round to date. 8fig has 90 employees in two main centers in Tel […]

The credit rating agency Standard and Poor’s (S&P) stated on Friday that Israel’s credit rating remains unchanged, according to multiple reports, affirming Israel’s “Aa-/A-1+” rating.  The announcement by S&P came about a month after the rating agency Moody’s announced a downgrade of Israel’s credit outlook to ‘stable,’ instead of ‘positive.’ As for economic growth, from […]

Over the next year, governments around the world hope to dig up treasure for their tax coffers. Not buried underground but hidden in the Internet cloud. The US, EU and OECD are behind this, and the UN wants to tighten it further. Double taxation and other risks may be around the corner. Preparation and compliance […]

Indian companies have become dominant in several industries throughout the Gulf Cooperation Council (GCC). According to the GCC Statistical Center, success in fields such as retail, medicine, technology, education, contracting, and tourism has allowed Indians living in the GCC to send $89 billion back to India annually, 65% of India’s total remittances. For more stories […]

Early-stage Israeli venture capital firm AnD Ventures has closed its first fund at $70 million, exceeding its initial target of $50m. The firm aims to continue investing in early-stage Israel-based founders and has already invested in 10 companies, including Connected Insurance, Onebeat and InfiniGrow. AnD Ventures, founded by Lee Moser, Roy Geva Glasberg, and Ariel […]

ISrael’s Consumer Price Index rose 0.8% in April, nearly twice as high as the forecast, the Central Bureau of Statistics reported Monday. The year-over-year inflation rate remained steady at 5%, the same as in March, it said. The CPI measures the monthly change in prices paid by consumers for a basket of goods and services […]