The Israeli Treasury is acutely aware of the potential economic repercussions of the ongoing conflict, although estimating the exact costs and damages remains a formidable challenge. Contrary to characterizing it as merely another round of hostilities, a senior official from the Ministry of Finance emphasized the profound economic significance and extreme uncertainty of the current situation. Consequently, they have refrained from providing specific figures that would summarize the extent of the damage inflicted and anticipated.

11 October 2023

Read more: Israeli Treasury: Assessing Economic Impact Amid Ongoing War

After the sharp declines in the Israeli stock market on Sunday night, and in the shadow of the severe conflict near Gaza, which entered its third day, foreign exchange trading resumed this morning. The shekel weakened significantly against leading currencies. The dollar was trading at approximately 3.91 NIS, marking an increase of approximately 2%, while the Euro also experienced a similar rate jump and was traded at around 4.115 NIS. Concurrently, the local stock market showed a modest recovery, with the Tel Aviv 35 index rising by about 0.5%, and the Tel Aviv 125 index displaying a similar increase.

09 October 2023

Read more: Israeli Stock Market Declines Amid Ongoing Conflict: Measures for Stability In Place

A new report published by the OECD criticizes the Israeli government's policy that increases budgets for ultra-orthodox educational institutions - a policy that, according to the organization - does not support the integration of this population into the employment market. The report was published Tuesday evening and brings together new policy recommendations designed to encourage growth in each of the organization's countries, including Israel.

04 October 2023

Read more: OECD Urges Israel To Scale Back On Funding For Ultra-Orthodox Yeshivas

The Israeli Minister of Finance, Bezalel Smotrich, took significant steps on Thursday evening to alleviate the financial burden on the citizens of Israel by signing orders aimed at reducing the excise tax and purchase tax imposed on gasoline. This decision comes at a crucial juncture as the price of fuel is set to remain unchanged in October, holding steady at 6.94 NIS per liter of 95 octane gasoline. Remarkably, this price stability is a welcome relief, given the relentless surge in global fuel prices that have, of late, made it increasingly challenging for the Israeli government to maintain reasonable prices, shielding the public from over-inflated rates.

01 October 2023

Read more: Smotrich Takes Action To Stabilize Gasoline Prices Amid Global Challenges

A new strategic endeavor is currently underway, spearheaded by Israeli businessman Yitzhak Tshuva. This initiative revolves around Ithaca Energy, a subsidiary of Tshuva's prominent Israeli gas conglomerate, known as "Delek." Delek, with a significant ownership stake of approximately 89.2%, operates Ithaca in the North Sea. In conjunction with Equinor, the project's operator, Ithaca Energy announced on a Tuesday evening that it had obtained regulatory approval from the United Kingdom's regulator, NSTA, for their ambitious plan. This plan pertains to the development of the Rosebank reservoir.

28 September 2023

Read more: Yitzhak Tshuva's Ithaca Energy Secures UK Approval For Rosebank Reservoir