Despite hitting a low in 2022, the euro has made a remarkable recovery. For the first time in 20 years, its value dropped below that of the US dollar. Breaking out of the war, the resultant energy crisis, and the reluctance of the European Central Bank (ECB) to take...
The Norwegian sovereign wealth fund, the world's largest of its kind, revealed its portfolio holdings in a filing with the US Securities and Exchange Commission (SEC) at the end of 2022. According to the filing, the fund had billions of dollars invested in 70...
As was anticipated by some experts, the Bank of Israel raised the interest rate by 0.5% and not by 0.25% as was the consensus earlier last month. The official interest rate now stands at a fifteen-year high of 4.25%. The prime rate, which is relevant to the general...
Synchron, a startup company specializing in brain-computer interfaces, is currently developing a piece of technology that will revolutionize the people's lives who are paralyzed. Those with no or very limited physical mobility can control technology such as cursors...
The shekel continues to fall in value against the major currencies. On Friday, February 17, the official shekel-dollar exchange rate was 0.791% higher than the previous day, at NIS 3.566/$, and 0.158% higher against the euro, at NIS 3.794/€. This is the weakest the...
According to today's release from the Central Bureau of Statistics, Israel's GDP grew by 6.5% in 2022, exceeding the forecasts of both the Ministry of Finance and the Bank of Israel. After a more modest expansion of 2.1% on an annualized basis in the third...
The Central Bureau of Statistics of Israel reported this evening that the Consumer Price Index (CPI) increased by 0.3% in January, which is above the market's expectation range of 0.1% and 0.2%. The CPI for the past 12 months has increased by 5.4%, making it the...
For the first time in its history, Israel became an oil exporter after the British Greek company Energian (LSE: ENOG; TASE: ENOG) launched the first barrels for exports to Europe from the Karish offshore field. The company's Production Storage and Offloading unit sent...
The Monetary Committee of the Bank of Israel will be meeting next week to discuss the decision regarding the interest rate. Up until a few days ago, the market's expectation was that there would be a 0.25% increase. However, the recent developments on the political...
According to Bank of Israel data, Israel's forex reserves increased to $201 billion at the end of last month, up from $194.22 billion at the end of December 2022. The most recent balance accounts for 39% of the country's GDP. The Bank of Israel attributed the growth...