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August 31, 2016 / 27 Av, 5776

Posts Tagged ‘economy’

Iran ‘Not Worried’ About Falling Oil Prices

Monday, August 29th, 2016

Iranian Economy Minister Ali Tayebnia says his country has been the “least to suffer” from a recent fall in oil prices, and as a result, Tehran’s economy has been the least damaged by the decline.

“Based on newly released statistics of the International Monetary Fund (IMF), Iran was the least to suffer from the fall in oil prices, and that means that Iran has lowered its vulnerability of overseas shocks in the economic domain,” Tayebnia said, according to the Iranian Oil Ministry’s SHANA news website.

The report by the IMF quoted by the Iranian finance minister said Iran had been able to “retool its economy under sanctions pressure to that inflation declined from 45 percent in 2013, to around 8 percent this year,” according to the UPI website.

Tayebnia estimated that Iran’s inflation is now hovering at around two percent, with the Central Bank of Iran estimating a growth rate in the GDP of around five percent through early 2017.

Iran is a member of the Organization of Petroleum Exporting Countries (OPEC.) Total production for Tehran in July was at its highest level since 2014.

Hana Levi Julian

Doctors Plan Strike at Israeli Public Hospitals

Tuesday, August 9th, 2016

If you are planning elective surgery or any kind of hospital-based procedure this week, you may want to reconsider your scheduling.

Israeli doctors in public hospitals are planning to strike this coming Thursday if demands for budget supplements from the Health Ministry for additional staffing are not met.

The doctors are also concerned about the possibility that Health Minister Yaacov Litzman may issue a ban against department heads that could stop them from maintaining a private practice. However, Litzman has told media that he has decided not to move ahead with such a ban.

If the strike actually takes place — which does not always happen due to last-minute negotiations or Labor Court action — the hospitals are expected to operate on a Shabbat schedule. This means that elective surgeries and non-emergency treatments will be delayed or deferred altogether.

Hana Levi Julian

Israel’s Economy – an Island of Stability

Monday, August 8th, 2016

1. According to a study conducted by the University of Lausanne, Israel is one of the top five world high-tech powers, as indicated by a 2015 $1bn investment, in Israel, by Apple, creating a hardware development center. The USA, China, Russia and India are, actively, soliciting high-tech cooperation with Israel. India and Israel negotiate a free trade zone, which would increase their current $5bn trade balance. Israel is second only to Russia in the exportation of military systems to India (Jerusalem Post, July 24, 2016).

2.  $245mn raised by Israeli companies in July, 2016; $2.9bn raised, so far, in 2016 ($1.7bn in the 2nd quarter and$1.1bn in the 1st quarter). For example, SafeBreach (cyber) raised $15mn from HP, Deutsche Telecomm, etc.; Prospera (agricultural tech) raised $7mn from the Silicon Valley-headquartered Bessemer Venture Partners; PowerLinx (business matching) raised $7mn from Dun & Bradstreet, France; and Engie (car maintenance) raised $3.5mn from the San Francisco-based 8Partners, the San Francisco Peninsula-based Motus Ventures. (Globes Business Daily, July 27, 2016), etc..

3.  Israel’s Emefcy raised $24mn from US, Chinese, Hong Kong, Singapore and Australian investors (GE Ventures was one of the initial investors), in order to advance its 44 sewage-recycling projects in the US, Israel, Latin America, Ethiopia and, mostly, in China (Globes, July 26). GuardiCore raised $20mn from Cisco, the London and Israel-based 83North, and the Silicon Valley and Israel-based Battery Ventures. SkyCure raised $16.5mn from the Silicon Valley-based Foundation Capital (Globes, July 20).

4. The Israeli gambling websites giant, 888, is negotiating a merger with the British giant, Rank, in order to acquire the $3.6bn British giant, William Hill (Globes), July 25).

5.  A US-Israel cyber cooperation in the protection of financial payments from malicious hacker attacks – which could result in mega billion dollar catastrophes – was announced in Atlanta, GA. Israeli companies excel in the development of firewalls (Globes, July 3).

6. The following is a sample of vital data featured in Adam Reuter’s (Financial Immunities) and Noga Kainan’s (Company Leaders Forum) “Against all odds – Israel is an Island of success:

*Israel’s economy has expanded by 180% during the past 20 years, while the population (8.4mn) has grown by 45%;

*Israel’s GDP is in excess of $300bn compared to $1.2bn in 1949 and $155bn in 2006, GDP per capita is $35,000 (24th in the world);

*Israel’s foreign exchange reserves reached $90bn, an indication of financial stability, bolstered by a highly diversified, high-quality commercial and defense exports, thus minimizing the impact of global slowdown;

*Israel’s ratio of public debt to GDP is systematically shrinking (64%), unlike most OECD;

*Israel’s unemployment rate is decreasing (5%), while labor force participation rate is expanding (77%);

*Israel is among the only 8 countries launching space satellites, a global co-leader with the US in the areas of research, development, manufacturing and launching mini, small and medium-size space satellites;

*Israel is the world leader in the area of per capita research & development: 140 per 10,000 employees;

*86 Israeli companies are traded on NASDAQ, third following the USA and China.

*About 300 global high-tech giants established research & development centers in Israel, leveraging Israel’s brainpower;

*Israel’s population is the youngest in the OECD – median age 31 (OECD – 42), featuring the highest fertility rate (number of births per woman), including an unprecedented surge in secular fertility.

Yoram Ettinger

Greece Talks About Ties with Iran

Thursday, July 14th, 2016

Greek and Iranian government officials met this week in Athens for talks on developing economic, trade and industrial ties between the two countries.

Such a move could become a threat to the Jewish State, which has worked hard to develop closer ties with Athens. The Hebrew University of Jerusalem awarded an honorary doctorate to Greek President Prokopios Pavlopoulos during his state visit to Israel on March 30, citing his “warm relations with the State of Israel and the Jewish world.”

Iranian leaders have consistently maintained that government’s determination to “wipe the Zionist state off the map.”

Iranian Deputy Foreign Minister Majid Takht-Ravanchi met with Greek Minister of Economy, Development and Tourism Giorgos Stathakis, and Minister of Environment of Energy Panos Skourletis, according to IRNA, the official Islamic Republic News Agency.

Both sides “declared their political will to develop ties in different fields” according to the news outlet.

Greece has an embassy in Tehran, and Iran is represented by its embassy in Athens. A small Christian Greek community exists in Iran; there is a Greek Orthodox church in Tehran which opens mostly during the Greek Holy Week. But relations that date back millenia between the two nations — at one point, two empires — have laid dormant for decades.

The officials discussed development of oil and gas and renewable energies, pharmaceutical industries, “modern technologies,” shipbuilding and shipping, tourism and “promoting banking relations.”

Both nations allegedly expressed willingness to implement a document that was signed following a February 7 visit to Iran by Greek Prime Minister Alexis Tsipras, according to the Iranian news agency.

Hana Levi Julian

Goldstein on Gelt: What Kind of Economy Will the American President-Elect Inherit?

Monday, June 27th, 2016

Financial expert Peter Schiff returns to The Goldstein on Gelt Show with some advice for the 2016 president-elect on the American economy.

Whether Clinton or Trump is elected, the American president must take America out of the current recession and restore America’s greatness.

In his message to the president-elect, Schiff explains the effects of a weak dollar on stock prices and much more.

The next U.S. president will inherit an economy in shambles. But what happens when you inherit a stock position from your parents? How will that inheritance affect your finances?

Find out what you need to know when you inherit assets. What questions do you need to ask yourself when deciding whether to sell inherited stocks or keep the original positions?

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to www.GoldsteinOnGelt.com

 

Doug Goldstein, CFP®

Report: 48% of Jerusalem Residents Are Poor

Thursday, June 23rd, 2016

About half of the total population in the city of Jerusalem live below the poverty level according to data gathered in 2014, the Central Bureau of Statistics and Bituach Leumi, National Insurance Institute) report.

Elsewhere in the country the poverty rate is much lower. According to the agencies, half that number — 22 percent — of the total population in Israel was found to be living below the poverty line in 2014.

In 2013, the poverty rate in Israel was 20.9 percent, according to a report released by the Organization for Economic Cooperation and Development. The OECD reported that year that Israel had the highest poverty rate in the developed world.

Hana Levi Julian

As US Anthropologists Reject BDS Resolution, Israeli Economy Thriving Despite Boycotts

Tuesday, June 7th, 2016

On Tuesday, the 10,000-member American Anthropological Association announced the results of a vote on its proposed boycott of Israeli academic institutions: the call to boycott failed. After many who are close to the organization had predicted the measure would pass, it lost by 2,423 to 2,384 votes.

The failure of the boycott proposal came as unexpected relief to people like Ted Gup, a professor of journalism at Emerson College, who wrote on the eve of the vote in The Chronicle of Higher Education that it is “misguided, counterproductive, and sure to damage both the association and the Palestinian cause.” He added that “it also puts at risk any network of scholars by inviting similar future reprisals.” Also, he warned that “the boycott will harm the very people it is intended to help and embolden those whose hardline policies the AAA disdains.” But “beyond all this,” Gup, who is Jewish, noted that “the boycott itself is irreparably flawed and discredited by the historical and contemporary context that produced it.”

It also appears that the boycotts have had no influence at all on Israel’s economy, which today is the fastest growing in OEDC, according to a Bloomberg News report citing a steep increase in foreign investments in Israeli assets, which last year hit a record high of $285.12 billion, “a near-tripling from 2005 when the so-called Boycott, Divestment and Sanctions (BDS) movement was started by a group of Palestinians.”

“We don’t have a problem with foreign investment in Israel — on the contrary,” Yoel Naveh, chief economist at Israel’s finance ministry, told Bloomberg.

According to people from the entire spectrum of the market: money managers, economists and government officials, “Israeli assets are an attractive alternative to weak performers elsewhere.” And even though Israel’s economy has slowed down in 2016, it is still growing faster than the economies of the US and Europe and its interest rate is higher.

Interestingly, Bloomberg also reported that the business community rejects the fabricated accusations against Israel perpetrated by the BDS activists, “that investing in Israeli innovation and natural gas violates Palestinian rights, and that Israel’s misdeeds are so exceptional that they justify singling it out for censure.”

Bloomberg quotes data collected by IVC Research Center which suggests that even with an appreciating shekel, Israeli startups have raised $3.76 billion in 2015 from foreign investors, their highest annual figure in ten years. In 2015 Israeli industrial high-tech exports rose 13% from 2014 to $23.7 billion, and in 2016 Israel’s economy is expected to grow 2.8%, compared with the US (1.8%) and the EU (1.8%).

Or, as the Torah put it, back in 1248 BCE: “But the more the Egyptians oppressed them, the more the Israelites multiplied and spread, and the more alarmed the Egyptians became.” (Exodus 1:12)

Back to the failed BDS vote at the AAA, there’s a point Ted Gup was making in his thoughtful article which suggests the more Israel makes itself known to the world, the less would anti-Semitic NGOs be able to feed off its flesh. “In the summer of 2015, with the support of a Fulbright, I taught at the University of Haifa, in Israel’s third-largest city and one of its most secular and progressive urban centers,” Gup related. “The university boasts a student population that is one-third Arab. It is common to see student-soldiers of the Israeli Defense Forces, rifles slung over their shoulders, checking alongside their Arab classmates the same class announcement boards or discussing homework. Nor is it unusual for heated debates about Israeli policy to arise between Jews and Arabs in the classroom — and even more commonly, between Jews and Jews.”

Then he made a most cogent point, coming as it does from a leftwing perspective: “So how does a learned society like the AAA justify punishing the likes of the University of Haifa or see doing so as an effective message to the Israeli government? Many of my colleagues on the Haifa faculty openly criticize that government, as do their students. A wholesale boycott of academic institutions applies the same indiscriminate standard of punishment that the association says it abhors. The AAA would argue that you don’t bulldoze a house or bomb a block in Gaza because of one attacker. How then do you justify cutting off relations with all Israeli academic institutions based not on actions but on geography?”

JNi.Media

Printed from: http://www.jewishpress.com/news/breaking-news/as-us-anthropologists-reject-bds-resolution-israeli-economy-thriving-despite-boycotts/2016/06/07/

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