News
Shekel hits 33-year-peak, hammering exports, yet policymakers are insistently inactive
3+ hour, 13+ min ago (1115+ words) Israeli tech exporters and manufacturers are warning of an unfolding economic crisis as the shekel's rise to a 33-year high threatens to erode major growth engines of the country's economy. All the while, both the Bank of Israel and the…...
Biggest supermarket chain pulls some dairy products from shelves in spat over Tnuva price hikes
4+ day, 18+ hour ago (697+ words) Israel's largest supermarket chain, Shufersal, on Sunday announced the removal of some dairy products from its shelves in response to a decision by food giant Tnuva to hike prices ahead of the Jewish holiday of Shavuot. Shufersal said it will…...
Knesset panel advances measure lowering bar to compensate workers furloughed by Iran war
1+ week, 1+ day ago (401+ words) Bowing to pressure from business organizations, the government is set to agree to shorten the minimum qualifying period for employees to receive benefits for unpaid leave during the war with Iran. According to the revised compensation framework, the government will…...
Brawny shekel threatens to knock out exporters, tech firms dependent on almighty dollar
1+ week, 4+ day ago (1348+ words) For over a century, Hanan Grebelsky's family-run business has quarried and cut Jerusalem limestone, providing iconic buildings in Israel and abroad " such as New York's Metropolitan Museum of Art " with chiseled stone facings, floors and more. Founded in 1923 by Grebelsky's…...
From soft toys to bandages, Iran war may drive up cost of petroleum-derived goods
1+ week, 6+ day ago (1046+ words) Like many soft toys, the creatures developed by a manufacturer in Fort Lauderdale, Florida, are made with polyester and acrylic, synthetic fibers derived from petroleum. Three weeks after the war started, suppliers in China notified Aleni Brands that getting the…...
Daily Briefing April 21 " The shekel's remarkable strength
2+ week, 3+ day ago (154+ words) Jessica Steinberg, The Times of Israel's culture and lifestyles editor, covers the Sabra scene from south to north and back to the center Tech editor Sharon Wrobel joins'host Jessica Steinberg for today's episode. As the shekel crossed the below-3-to-the-dollar…...
Despite cost of living hikes, Israelis are eating more beef, veal
2+ week, 4+ day ago (362+ words) Despite the ever-rising cost of living, Israelis last year bought seven percent more beef and veal than the year before, consuming an average of 20. 2 kilograms (44. 5 pounds) per capita, the Agriculture Ministry reported Sunday. In all, Israelis consumed around 201, 000 tons of…...
The 3. 00 squeeze: Why the surging shekel is a threat to Israel's economy
2+ week, 4+ day ago (669+ words) In recent weeks, Israel's monetary system has been undergoing a shake-up that goes beyond routine fluctuations. While the US dollar is exhibiting global weakness and losing ground against most of the world's major currencies, the Israeli shekel is not merely…...
Shekel breaks below 3 to the dollar in first since 1995; exporters warn of economy risk
3+ week, 1+ day ago (606+ words) The shekel on Wednesday crossed below the threshold of NIS 3 per dollar, its strongest level in more than 30 years, fueled by growing optimism over an end to the war with Iran and a ceasefire in Lebanon. But manufacturers and exporters…...
Bank of Israel slashes growth prospects as Iran war takes toll on economy
1+ mon, 1+ week ago (681+ words) The Bank of Israel on Monday trimmed its growth outlook for the economy for this year and left interest rates on hold for a second straight meeting, citing high geopolitical uncertainty over the duration and toll of the war with…...