Category: Finance

The Iraqi Interior Ministry announced on Sunday a ban on the use of the US dollar in personal and commercial transactions. The move, reported locally, is intended to bolster the Iraqi dinar, the country’s native currency. This action aligns with an emerging trend across various Middle Eastern countries seeking to diminish their dollar dependency. For […]

Lebanon is likely to be placed on a “gray list” of countries under special scrutiny over unsatisfactory practices to prevent money laundering and terrorism financing, three sources familiar with the matter told Reuters. Being added to the list would be another major blow to a country in a financial tailspin since 2019 and struggling to […]

Since April 15, 2023, fighting between two military groups in Sudan has disrupted life across the country. Over 160,000 people have already left Sudan, with an estimated 700,000 more displaced internally. For many of the country’s 45 million residents – particularly those who remain in cities like Khartoum, Omdurman, and Bahri – the simplest daily […]

There is a significant funding gap for climate adaptation – especially for women. Public financing will not be sufficient to close this gap, but it will be crucial for supporting the most vulnerable and facilitating private sector investments where funding and support is needed most. Inclusive financial systems play an important role in channeling finance […]

The Bank of Israel has once again raised the national interest rate in its relentless effort to curb the country’s steepening inflation rate. The bank increased the rate by another .25% to 4.75%, marking the tenth consecutive raise in just over one year. This surge brings the interest rate to its highest level since 2006. […]

An investment of about $4,000,000 in an Israeli food-tech company, even as investments in the local tech sector have decreased greatly, is not a big deal. But this time, rather than the amount, it’s the identity of the investors that is interesting. So, the recruitment round of the food-tech company Wilk can be called a […]

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 […]