Economy

Bennett: Cost of Living Already Coming Down

Economics Minister Naftali Bennett on Sunday was named as chairman of a ministerial committee to reduce the cost of living in Israel

More Jobs Available for Israeli Workers

While the U.S. and Europe suffer from ongoing unemployment, there were more jobs for Israelis, and workers earned more, at least nominally

Steinitz: Sequestration Could Drag Down Israel's Economy

Finance Minister Yuval Steinitz called the latest fiscal developments in the U.S. “worrying"

Obama's 'State of Union' Set for Feb. 12

President Barack Obama will give his annual "State of the Union" address to Congress on February 12, the White House announced Friday.

Obama Warns of Threats to Thousands of Jobs

Obama warned Congress that steep budget cuts would hurt the economy and threaten jobs.

Israelis Importing So Many Cars, License Numbers Are Running Low

Not long ago, Israelis largely relied on public transport to get around, but those days are long gone

Israelis Crowd Malls, Beaches, and Restaurants in Rare 'Day Off'

The big winners on Election Day turned out to be the country's malls, restaurants, beaches, and parks

Group: Election Day Costs 'Crushing' for the Economy

Election Day will cost Israelis NIS 1.1 billion (about $300 million), a consulting group said - a crushing burden for the Israeli economy

Bennett: Expelling Jews would Kill the Economy

A withdrawal from Judea and Samaria would mean economic collapse, Naftali Bennett tells opponents.

AARP Warns Tough Economy Threatens 50+ Retirement

A new report from the AARP warns the drooping US economy is threatening future retirement for middle class workers age 50-plus.

Obama Warns Republicans Against Toying with Economy

Obama warned Republicans against using the debt ceiling as a "bargaining chip," saying a failure to raise it would sow financial chaos.

Lapid: 'Settlers' Taking Money from Middle Class

Yesh Atid chairman tells Bennett: "You turned the communities in Judea and Samaria into another extortionate sector."

Economy Party Fights for Divorced Fathers, Against Terror

Even terrorism can be fought using economics. The new Calcala party is headed by a former Kadima MK and two American brothers.

US Climbs Back Up Fiscal Cliff – Until Next Time

Congress finally climbed back on the fiscal cliff after falling off, but it may not be the last time the US visits the virtual precipice.

Poll: Economic, Social Issues Top Security Ones for Voters

A poll taken on behalf of the Labor Party indicates that voters are more concerned with economic issues than they are with security issues.

Middle East Tensions Scare Off US Company from Israel

A US company balked at dealing with an Israeli firm because of concern over area tensions, setting off fears of a “security boycott.”

PA Begs Arab World to Keep It Alive

PA Prime Minister Fayaad appealed to the Arab world to replace tax revenues Israel is using to pay off PA debts

US Senate Set to Consider New Round of Iran Sanctions

The Senate is set to consider a broader round of economic sanctions on Friday against Iran's energy, port, shipping and shipbuilding sectors

Expert: Pillar of Defense Cost Tolerable for Economy

As life in Israel gets back to normal after Operation Pillar of Defense, economists have begun tallying up the financial damage.

Amb. Oren: 'Israel-US Economic Ties Growing at Dizzying Pace'

"The economic and commercial ties between the two countries are growing at a dizzying pace," says ambassador Oren.

Part-Timers Now Eligible for Unemployment Benefits

A new law will make it easier for Israelis who work part-time will for the first time qualify for unemployment benefits.

Diamond Mogul is Israel’s Richest Man: $8.1 Billion

Diamond magnate Beny Steinmetz is Israel’s richest man, replacing members of the famed Ofer family. How rich? $8.1 billion.

Poll Shows Israelis Savvy About Money, Not Investments

A poll by the Central Bureau of Statistics showed that Israelis were very savvy about money matters, but less so about investments.

Giuliani: Obama Should 'Resign' Over Libya, Economy, Sandy

Rudy Giuliani tore into Obama, saying the president should "resign" over terrorist attack in Libya and for campaigning after Hurricane Sandy

Two Large Israeli Tech Companies Announce Layoffs

Cellphone company Partner, and microprocessor designer and maker Freescale are laying off workers.

Ahmadinejad Denies Reports of Failing Economy

The Iranian President says his country's enemies are waging a 'psychological war' with their efforts to cripple the economy

Arab Spring Blew in Rotten Economy

The rotten fruits of the Arab Spring have been poor economies, the Arab Monetary Fund says. It also cited the global financial crisis.

PA Protesters: 'Israel is Not Always to Blame'

Social protests are escalating within the Palestinian Authority territories with rising unemployment and no economic relief.

Murdoch: King David Was Right, Jerusalem is the Capital

Media mogul Rupert Murdoch said at an investment meeting that, “What was right for King David is right for me. Jerusalem is the capital."

Euro Zone Slips Back to Recession

Europe is slipping into a recession, according to data revealed by the European Central Bank on Wednesday.

Israeli Unemployment Rate Drops 0.6%

Israel’s unemployment rate fell by 0.6 percent in July, according to a report from the country’s Central Bureau of Statistics.

Minimum Wage Going Up to $1,069

Monthly minimum salary to rise by NIS 200 to NIS 4,300.

Iranian War Threat Chasing Away Foreign Investors

The war of words between Israel and Iran is being treated as a real war by foreign investors and customers, scared of the real thing.

War with Iran Could Cost Economy $42 Billion

A business firm says a war with Iran could cost the economy $42 billion (167 billion shekels) in direct costs and damages over five years.

Israel’s Dollar Reserves a Weapon Against Iranian War Disaster

Gloom and doomers warn that war with Iran could cripple the economy, but Israel has a weapon: $70 billion in dollar reserves.

Financial System Preparing for Iran Strike, Says Fischer

Bank of Israel Governor says the financial system is preparing for an Israeli strike in Iran and a resulting downturn in the economy.

Palestinian Authority Economist: PA on Verge of Collapse

The Palestinian Authority is on the verge of collapse, says a PA economist. “The collapse will be harder the later it occurs.”

For the Man ‘Who Has Everything’ – a Helicopter Pad

It seems no one ever has "everything." An Israeli billionaire whose house has a cinema and spa now wants a helicopter pad.

Steinitz Raises Tax on Cigarettes and Alcohol

A day after announcing a VAT increase, Finance Minister Yuval Steinitz signs an order to raise the tax on cigarettes and alcohol.

Study: Pre-Primary Education to Cost 2.3 Billion

Implementing the lower age for compulsory education will cost the government 2.3 billion shekels, and 1.4 billion annually, study finds.

‘Dr. Doom’ Predicts ‘Bad’ Will Get Worse

The sputtering world economy is good news compared to what is around the corner, says “Dr. Doom” Roubini: Military clash with Iran.

Fischer Loses Deficit Spending Showdown in Cabinet

The cabinet voted to raise Israel's deficit ceiling to 3% over the objections of Bank of Israel governor Stanley Fischer.

Fischer Blasts Netanyahu Deficit Spending Plan

Bank of Israel governor Stanley Fischer says the PM's plan to increase deficit spending is the exact opposite of what Israel should do

Shekel Sinks, Now Worth 25 Cents

The dollar-shekel rate hit a three-year high this week and is just about touching the level where a shekel is worth only a quarter.

Egypt Broke, Foreign Banks Hold Up Aid, Demand Reforms

According to economists in the U.S. and Europe, Egypt's economy has basically been paralyzed for the past year and a half

Apple Takes Bigger Bite into Israel

Apple‘s new development center in Haifa is looking for hi-tech engineers and joins Intel and Microsoft by expanding in Israel.

Israeli Exports Up Nearly 15,000% Since 1948

In 1948, Israel exported $6 million worth of products, but by 2011, that number had jumped to about $90 billion – a rise of 1,400,000%

Gov't: Break Up Those Monopolies!

The government on Sunday approved plans to break up monopolies and 'concentrated wealth,' which PM Netanyahu says causes high prices.

Iranian War Threat Chasing Away Investors from Israel

Talk of war with Iran is scaring investors away from Israel even though the country’s growing hi-tech industry is considered a gold mine.

Video: Gush Etzion ‘Oleh’ Touts US-Israel Economic Ties

New York state native Eli Groner, a Gush Etzion resident, touts US-Israel economic ties as Israel’s Economic Minister in the US.

Netanyahu: Nuclear Iran Would Choke World Economy

Prime Minister Binyamin Netanyahu says if the world is worried over what Iran is doing to oil prices now, just wait until they get the bomb.

Sign of the Times: Demand Drops for Housing

Just when you thought the economy was turning around: government figures show there's been a sharp drop in demand for homes in Israel.

War? What War? Bloomberg Says Invest in Israel

Talk of war with Iran is nothing new for Israel, under threats since 1948, says Bloomberg. “Israel one of world’s best investments.”

PM: I Was Right to Doubt 'Arab Spring'

Prime Minister Binyamin Netanyahu said Sunday night that he been right when he presented a 'pessimistic' view of the 'Arab Spring'

IMF Warns of Possible Economic Instability in Israel

IMF warned Israel of potential economic instability because of high unemployment and poverty in Arab, hareidi sectors.

Bank Leumi Celebrates 110 Years of Zionist Banking

The senior management of Bank Leumi opened the trade at the Tel Aviv Stock Exchange in celebration of the bank’s 110th anniversary.

US Interest Rates Frozen Through 2014

Officials at the US Federal Reserve say they plan to keep interest rates frozen through 2014 to aid in the nation's economic recover.

‘Israel Teaches a Lesson to US on Social Protests’

A US embassy official says “egalitarian” Israel set an example for the US by its positive response to “social justice” protests.

One-Night Record: $225 Million for Israeli Bonds

A record $225 million in Israel Bonds was set Sunday night at Miami’s annual Bonds event, attended by honoree Finance Minister Steinitz.

‘Dr. Doom’ Investor: Prepare for World III

Good news and bad news: Analyst and businessmen Dr. Marc Faber says World War III is near. The good news: He said the same thing last year.