Business & Economy

Somali Pirates Negotiating Release of 2 Israeli-Owned Ships

Somali pirates are negotiating the release of two Israeli-owned ships. No Israelis are among the crews held hostage for nearly a month.

Punishment for Bringing Illegals into Israel is Stiffened

The government voted to increase sentence for transporting illegal foreigners into Israel from two to a maximum of five years.

Sea of Galilee Declared No-Fishing Zone for Two Years

Minister of Agriculture bans all fishing in Sea of Galilee in order to avert 'ecological disaster'; says government will compensate fishermen.

Signs of Oil in the Negev

A joint venture near the Negev city of Arad has produced “preliminary indications” of an oil reserve, the drillers announced.

USGS: Venezuela Oil Field Dwarfs Saudi Arabia Reserves

The US Geological Survey estimates that a new reserve of thick black crude oil found in Venezuela is about double Saudi Arabia's oil reserves.

US Terror Blacklist Whitewashes Hamas, Enables Funding

US Treasury's updated list of terrorists includes only one Hamas member – Musa Abu Marzouk. This allows EU funds to enter Hamas-Gaza's coffers.

Leadership Program in Memory of Astronaut Ramon and Pilot Son

Ta'asiyda is a branch of the Manufacturers Association of Israel which Educates the next generation of inventors, entrepreneurs, and manufacturers

Israel's 'Green Machine' Gears Up for 2010

By the end of 2010, Israel will be the first nation on Earth to host a national electric car network - and more ‘green’ solutions are in store.

High Housing Prices in Jerusalem: Who's to Blame?

A Jerusalem City Councilwoman is fighting to whittle local housing prices back down to a reasonable level by attacking the source of the problem.

Tourism Soars With Record Set in December 2009

A new report confirms December 2009 as the most visitor-laden December in Israeli history.

Pro-Iranian Cyber Attacks in China, Google Considers Pullout

A pro-Iranian regime Internet terror group hacks China's largest search engine. Google announced it also was attacked and may pull out.

Arens: Mitchell Flexing Weak Economic Muscle

Former PM Shamir said ‘No' to Bush Sr.’s threats to hold back loan guarantees. Israel can do so today, says Shamir’s ex-Defense Minister Arens.

Egypt, Arab Countries Sign Massive Arms Deals With U.S.

US will sell 24 F-16 jet fighters, huge arms cache to Egypt in a $3.2 billion deal. No deal in the works with Israel.

Hareidi-Religious Housing Crisis Barometer for Secular Crisis

The housing crisis facing Israel’s hareidi-religious world may be a barometer of the impending storm about to hit the general housing market.

Dead Sea Works Employees Set to Strike

Employees of the Dead Sea Works, producing potash exported worldwide, are threatening a full-blown strike beginning Tuesday.

Israeli Stocks Beat the Market

A $1,000 investment in the S&P 500 in the US in 2000 would be worth $918 today. The same amount in Israel’s top index would have more than doubled.

Farmers: 'Water is a Basic Need, Rates Should Be Reduced'

The Israel Farmers Federation told the Knesset that the government's plan to raise water rates is unjust. The State Comptroller agrees.

PA Confiscating Israeli Snack Foods

The Palestinian Authority has confiscated from Arab shopkeepers thousands of shekels' worth of snacks produced in neighboring Jewish communities.

Value-Added Tax (VAT) To Drop 0.5% Friday

Finance Minister Yuval Steinitz has decided to reduce value-added tax (VAT) by half a percent at the beginning of 2010. The new rate will be 16%,.

MKs Scramble as Comptroller Lashes Out at Water Price Hikes

Lindenstrauss says steep imminent water price hikes were not set professionally and will hurt weaker sectors. MKs Regev,. Hasson: Stop the hikes.

Israeli Bank, Owned by Europeans, Cuts Off Yesha

Dexia Bank, owned by a European parent company, ordered a ban on credit to councils in Judea and Samaria and wants accounts closed.

Water Prices to Dry Out Consumers

Water prices in Israel will be jacked up 25 percent next week – and nearly the same amount again in the following year.

$4.5 Million in Matching Funds for Gush Katif Jobs

Jobkatif, the grassroots org that helps Gush Katif expellees find work, is to receive 18 million shekels from the gov't - in matching funds.

Three New Varieties of Tomato to Debut at Arava Agro Show

Three new varieties of tomatoes will make their debut at the largest agricultural exhibition in Israel, to be held next month in the Arava.

Analysts See Israel Flexing Economic Muscle in 2010

Israel will be one of the leaders in economic growth in 2010, investment analysts say. The value of the shekel is likely to increase.

Call for Stricter Controls on State-Owned Intellectual Property

An unprecedented suit is filed against a private company for intellectual property theft; an NGO calls for greater oversight on state employees.

John Deere Bid for Israeli Agricultural Firm

US-based agricultural equipment giant John Deere & Co. has announced it will acquire Israeli cotton picking machinery manufacturer, BHC.

Significant Quantities of Oil Discovered in Center of Israel

An exploration firm said it has found "significant quantities” of oil east of Tel Aviv.” It cautioned that it cannot yet estimate its magnitude.

A First: The National Pipeline to Carry Desalinated Water

For the first time, Israel's national water supply system is carrying desalinated water. A new national water carrier will cost NIS 5 billion.

The Faces of Israel's Money: A Second Thought

Formulating list of historical figures to be eternalized on Israel’s paper currency is not as easy as the Bank of Israel head thought it would be.

Rich Getting Richer, Poor Getting Poorer

The socio-economic gaps are widening: More Israelis earn 100,000 shekels a month, and many more earn less than 500.

PA Working to Harm Yesha Economy

The American-backed Fatah leadership is trying to ban Jewish products from Judea and Samaria.

‘Boycott Britain,’ Suggests Kadima MK

Kadima MK Tirosh suggests a boycott of goods from Britain, which has urged Judea and Samaria foods to be labeled “Israeli settlement produce."

Israel's Peres at Controversial Climate Conference

President Shimon Peres is representing the State of Israel at the UN Climate Change Conference (COP 15) in Copenhagen.

Successful Test Flight of Boeing 787 Dreamliner

U.S. airplane manufacturer Boeing has successfully flown the new 787 Dreamliner, days after the maiden voyage of Israel Aerospace project G250.

Ahava Products Turn Dutch Officials Red

Dutch officials are investigating Ahava Dead Sea products to determine if minerals are stolen from "occupied" Arabs.

National Religious Jews' Birth Rate Ignores Child Support Cuts

Changes in the child allowances during the years 1994 to 2007 affected the birth rates among hareidi-religious and Arab women, say researchers.

Google Defines Samaria as 'Palestinian Territory'

A resident of the Samarian community of Eli finds that the Google search engine believes Jews in Judea and Samaria live in Palestinian territory.

High Court: Peres Can Keep the Money

The High Court said it was legal for Peres to keep $320,000 he received from US businessmen with assets in Israel. They didn't say it was ethical.

Israeli-Gulfstream Business Jet Makes Its First Flight

The joint Israeli-American new business jet successfully completed its maiden test flight Friday. It carries a price tag of $24 million.

Business Partnership Based on Jewish Worldwide Unity

Jewish Agency's "Business to Business" (B2B) project is designed to strengthen ties between Israel and the Jewish business world.

Tal Brody: 'More Companies are Giving Back to the Community'

Tal Brody, chairman of the Spirit of Israel: Israeli companies have learned that "giving back" to society is a vital part of their business plan.

Cincinnati Will Help Market Israeli Start-Ups.

The vice president of the Economic Development at the Cincinnati Regional Chamber business delegation is in Israel to help market Israeli start-ups

Bezeq Returns Judea, Samaria and the Golan to the Map

Following an inquiry by Arutz Sheva, Bezeq corrected a services map that failed to include Judea, Samaria, Gaza and the Golan Heights.

I phone, You Phone, We All Phone for iPhone

Two Israeli companies are hyping festivities for the ‘iPhone” as if an important head of state has arrived.

The Building Freeze is Bad for the Environment

As world leaders meet to discuss global ecology issues, a local group says the building freeze will hold up vital environmental projects.

Jerusalem Mayor: Foreign Resident, Please Rent Your Apartment

Mayor of Jerusalem Nir Barkat asked foreign residents with apartments in the city to rent them out to young families and students.

The Serendipity of Discovering Opportunity on Twitter

Internet marketing expert talks about the uniqueness of Twitter and other social networks: "You send out a tweet, and never know where it will go."

Video: Israeli Tech 'Geeks' at'140-Character' Conference

Jeff Pulver, founder of the "#140 Event": Facebook, Twitter, and other networks are all about people seeking friendships and connections.

Ashkenazi Makes Historic State Visit to India

IDF Chief of Staff Gabi Ashkenazi is traveling to India for the first state visit ever to be conducted to that nation by an Israeli military head.

McDonald's Arab Blackmailer Fails to Smudge Golden Arches

The Golden Arches stopped glowing last week when an Israeli Arab tried to blackmail McDonald's with a faked film showing fly larvae in the kitchen.

First Reading Passes for Double Maternity Leave

A new bill would legally extend maternity leave from the current three months to six months.

Avocados Grow With No One to Pick Them

The shortage of agriculture workers could cost the avocado industry up to 40 million shekels, as the fruit on the trees have no one to pick them.

Israel, Russia Form Agricultural Cooperation Agreement

An initiative of President Shimon Peres, raised in a meeting with Russian President Dmitry Medvedev, will promote global agricultural cooperation.

'Smart Agriculture' Blossoms in the Negev

Sewage water from central Israel is being creatively utilized to make the Negev bloom with orchards and vineyards.

The Decline and Fall of Lev Levayev’s Africa-Israel

Africa-Israel investments, controlled by Russian-born billionaire Lev Levayev, may not be able to continue as a “going concern.”

Public Wants More New Housing

Demand for new housing in 2009 is 9% higher than it was in 2008.

Employment Up, Car Taxes Down

Increasingly-employed Israelis will now be able to take advantage of their income by purchasing less-taxed cars.

Netanyahu Promises National Facelift

Prime Minister Binyamin Netanyahu, speaking at the dedication of a new major east-west highway, said, “We will change the face of the nation.”

Bibi Tells Expulsion Victims Helping Them is 'National Mission'

Netanyahu backed expelling Gaza farmers until he objected when the deal was done. He told them Monday that helping them is a “national mission.”