Category: Finance

Citi on Thursday trimmed its 2023 and 2024 growth estimates for Israel’s economy, citing lower investment stemming from the government’s planned judicial reform while saying GDP and credit ratings would also suffer in the medium term. Economist Michel Nies at the bank reduced his growth forecast this year to 3.1% from 3.3% and in 2024 […]

Have you ever wondered what a 9-figure amount looks like? It’s a sum of money too big to ignore, with a whopping total of 100 million to less than 1 billion. Discover more about this colossal figure and the wealth it represents When we mention nine-figure sums, we’re talking about a truly astronomical level of […]

Certificates of Deposit (CDs) work similarly to online savings accounts or money market accounts in terms of offering great returns with zero risk. The difference is, CDs “lock your money up” for a specified period of time. To access your funds before the term ends, you’ll have to pay a penalty. Although CDs offer less […]

I’ve written about this previously, that Britain’s late chief rabbi Lord Jonathan Sacks, in his weekly article on the Torah portion, wrote about “The Courage to Admit Mistakes.” He wrote: “Some years ago I was visited by the then-American ambassador to the Court of St James, Philip Lader. He told me of a fascinating project […]

The government published a draft bill this week which proposes to clarify who is a resident for Israeli tax purposes. This is not the same as citizenship, religion or national insurance status. The bill would be especially important to tourists who spend lengthy periods in Israel and anyone who relocates abroad from Israel for work/family […]

On Tuesday Israel’s sovereign credit rating was lowered by credit rating agency Morgan Stanley, and a special report on Israel’s economy is expected to be announced late Tuesday night, following the Knesset’s vote to pass the first law of its controversial judicial reform on Monday. Morgan Stanley updated Israel’s sovereign credit to a “dislike stance,” […]

Isracard credit card is reaching out to teens and young adults by launching a digitally loaded card called Netanchik. The card allows transactions up to NIS 1,000 at a time and can be recharged up to a maximum amount of NIS 4,000 per month.  The card can be integrated into a digital wallet, and its […]

Rich people in poor places want to show off their wealth. And their less affluent counterparts feel pressure to fake it, at least in public. Nobody wants the stigma of being thought poor. – Virginia Postrel Postrel’s quote has a basis in this week’s Torah portion. As an aside, for better or for worse, I […]

The Institute of Certified Public Accountants in Israel has just published a report on how to improve the regulation of the Israeli accounting profession. The undated report was prepared by the Public Expert Committee for Regulating the Israeli Accounting Profession. The Institute of CPAs report follows an accounting scandal in Australia in which a global […]

In a remarkable feat of financial prowess, a 28-year-old individual has shattered traditional notions of wealth accumulation. By strategically harnessing the power of multiple income streams, this trailblazer has managed to generate an astounding $189,000 a year while working fewer than 4 days a week. As the rest of us marvel at their achievements, it’s […]