In the wake of the severe labor shortage precipitated by the outbreak of war in Israel, Economy Minister Nir Barkat is spearheading an initiative to bring in 160,000 foreign workers from India as expeditiously as possible. This pivotal move is expected to be presented for government approval in the forthcoming days. The dearth of labor has been a direct consequence of the termination of Palestinian workers' employment in Israel, a predicament that has cast a wide-reaching shadow across various sectors of the economy.

23 October 2023

Read more: Economy Minister Seeks 160,000 Indian Workers To Switch Palestinian Labor

In the absence of regulated solutions from the Israeli government, it appears that many employers have chosen to take control of their financial destinies by implementing employee furloughs. This trend is particularly noticeable in labor-intensive industries such as restaurants and event halls, echoing the measures taken during the COVID-19 pandemic.

18 October 2023

Read more: Israel Dealing With Wartime Economy Using Policy From The COVID Pandemic

As the war in Israel persists, the stock of the Israeli defense company Elbit Systems has exhibited a remarkable surge of 7%. It's a well-established fact that arms manufacturer stocks tend to flourish during times of war. In this regard, Elbit Systems stands as the preeminent player within the Israeli defense industry.

16 October 2023

Read more: Elbit Systems Sees Impressive Stock Surge Amid Ongoing War In Israel

In a recent security breach, Hamas terrorists infiltrated Israeli townships surrounding Gaza and stole the credit cards of residents, subsequently utilizing them for various purchases within Gaza. These alarming developments have prompted inquiries to the Bank of Israel. While the precise extent of the stolen credit cards remains unknown, both an official at the Bank of Israel and a representative from the credit card company have confirmed that the number is relatively limited.

12 October 2023

Read more: Hamas Terrorists Using Credit Cards Of Victims And Abductees

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