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August 25, 2016 / 21 Av, 5776

Posts Tagged ‘economy’

Israeli Banks Post Strong Figures for 2015

Monday, February 29th, 2016

Israel’s two largest banks posted a strong year for 2015.

Bank Hapoalim noted its annual revenue rose 2.4 percent last year to NIS 14.36 billion. Net profits rose 13.6 percent to NIS 3.08 billion, according to Globes.

Credit to the public rose 5.8 percent to NIS 278.49 billion and deposits from the public rose 8.2 percent to NIS 321.72 billion.

Bank Leumi’s annual non-interest revenue rose to NIS 6.29 billion in 2015 from NIS 5.14 billion in 2014, although net interest revenue fell to NIS 7.11 billion, from NIS 7.36 billion a year earlier.

Net profit jumped to NIS 2.83 billion for 2015, compared with NIS 1.4 billion in 2014.

Credit to the public grew 3.5 percent to NIS 261.4 billion and deposits from the public rose 8.3 percent to NIS 328.7 billion.

Jewish Press News Briefs

Gas Prices Dropping at Week’s End

Wednesday, December 30th, 2015

Drivers are about to get another bonus at the gas pumps in Israel.

For those who can wait until midnight Thursday to Friday, the price of gasoline will hit a new low.

That’s when the new price will be NIS 5.78 per liter for 95 octane gas on January 1, at most self-service stations.

Full-service gas pumps will cost about 20 agorot more – but it is still 20 agorot less than the current price.

The continued downward spiral in worldwide prices has brought gas prices to their lowest levels in six and a half years.

Hana Levi Julian

Finance Minister Raises Number of Customs-Free Items

Wednesday, December 23rd, 2015

Finance Minister Moshe Kahlon has signed an order to exempt more food products and production items from customs fees upon their arrival in Israel.

In addition, existing exemptions have been extended, new exemptions have been added, and the “customs-free” imports quota has been expanded.

The moves are designed to ease future costs for Israeli business owners and increase their ability to compete in the international marketplace.

The Finance Ministry is beefing up efforts to maintain a healthy economy despite Israel’s somewhat sluggish growth rate earlier in the year.

Hana Levi Julian

Litzman Pressures Reluctant Hospitals to Shorten Wait for MRI Scans

Tuesday, December 22nd, 2015

At least two medical centers in Israel are locked in a power struggle with the Health Ministry over funding support for MRI procedures.

The number of MRI exams carried out in the afternoon and evening hours was seriously reduced beginning December 1 by the Clalit HMO at Beilinson Medical Center in Petach Tikvah and Be’er Sheva’s Sorokah Medical Center, Galei Tzahal Army Radio reported Tuesday.

This, despite a reform announced by Health Minister Ya’acov Litzman that was supposed to sharply cut the long wait for such procedures.

Because the MRI machine-hours have been slashed in the afternoon and evening hours at the two hospitals, many clinics have been unable to schedule patients for MRI exams as well.

Officials blamed a lack of state funding was responsible for the cut in services.

“Unfortunately we ran out of funds to operate the second shift, so we were forced to reduce our services by 30 percent,” said a spokesperson for Beilinson Medical Center.

“Operating the MRI in afternoon and evening hours is only possible with funding from the state,” said Soroka Medical Center. “The budget just could not stretch far enough, and therefore our services were reduced.”

The Ministry of Health has responded that the “availability and quality of services in the health basket are dependent upon the financial situation of the specific health fund; the ministry will review the matter with the director-general.”

However, Litzman added bluntly that if the hospitals did not cooperate and shorten the wait for MRI exams, he would “not hesitate to cancel their arrangements of choice.”

Such arrangements refer to agreements between the HMOs and hospitals to determine which medical center receives patients for which particular treatment.

Such a decision can exert major influence on an institution’s economic development.

Bottom line: if the hospitals don’t step up and cooperate, the health ministry is not likely to provide them with the support they need for further growth — at least, as long as Ya’acov Litzman remains health minister.

Hana Levi Julian

Israel’s Balance of Payments Q3 / 2015: $3.8 Billion Surplus

Monday, December 14th, 2015

(JNi.media) According to the Israeli Central Bureau of Statistics, Israel’s balance of payments for the third quarter of 2015 (July – September) looked positive, considering the current economic environment.

The data on the current account of Israel are a summary of the country’s balance of payments conducted by the Central Bureau of Statistics at the end of the third quarter of 2015. The summary includes transactions of Israeli residents with foreign entities in four different accounts: the account of goods (exports imports), the services account (Exports Imports), the account of primary income (income from financial investments and wages per employee), and secondary income (current transfers of funds).

The current account surplus totaled $3.8 billion, following a surplus of $3.4 billion in the previous quarter.

The balance of goods and services amounted to a surplus of $2.5 billion, following a surplus of $1.8 billion in the previous quarter.

The Imports of goods and services decreased by 3.5% from the previous quarter to $20 billion.

The Exports of goods and services remained at a level similar to that of the previous quarter, totaling $22.5 billion.

Israeli residents’ investments in foreign tradable securities decreased by $100 million following continued increases since 2012.

Investments by foreign residents in negotiable Israeli securities decreased by $2.1 billion in the first three quarters of 2015, after rising by $6.7 billion in the three preceding quarters.

In the net external debt, the excess of assets over liabilities amounted to about $108 billion, compared with $92 billion in the same quarter the year before.

Current-account-by-components

JNi.Media

1.7M Israeli Families Living Below Poverty Line

Wednesday, December 9th, 2015

Israeli children and families are paying the price — literally — of defense from Arab terrorism, as reflected in 2014 data released Wednesday.

According to the figures from the Central Bureau of Statistics (CBS), 1.7 million Israelis are living in poverty — about 22 percent of the population — including 776,500 Israeli children.

The data appeared in the annual poverty report released Wednesday by National Insurance Institute head Professor Shlomo Mor Yosef and Social Services Minister Haim Katz.

The report, which quoted CBS data collected in 2014, showed that 1,709,300 people — including 444,900 families — are living below the poverty line.

A single individual is considered to be living below the poverty line with a monthly income of NIS 3,077 or $200 per week, give or take a few shekels. A family of five is classified “below the poverty line” at a monthly salary level of NIS 9,230 and under; a couple who earns less than NIS 4,923 per month is also living below the poverty line.

Approximately 17.5 percent of Israel’s poverty-stricken families are hareidi-religious Jews, according to the report, and the poverty rate in that sector of the population is a stunning 54.3 percent.

Despite the dark numbers, the growth in poverty appears to have slowed at least somewhat. The poverty line reported rose by 2.4 percent in 2014, as did the disposable median income per capita.

Nevertheless, the poverty severity index increased by 10 percent in 2014. It is worth pointing out that Israel was forced once again last year to arm and defend itself against thousands of rocket, missile and mortar attacks during the summer war with Gaza’s ruling Hamas terror group and its terrorist allies.

That nightmare not only cost the Jewish State billions of desperately-needed dollars; it also cost the country in terms of injured and severely, permanently traumatized children, their parents and other Israeli adults.

Hana Levi Julian

Economy Ministry Figures Show Rise in Hareidi Male Employment

Wednesday, November 4th, 2015

In a new report, Israel’s Economy Ministry has released statistics showing that 49 percent of hareidi-religious men are now bona fide members of the working world, according to the Hebrew-language Kikar Shabbat website.

The finding is a quantum leap up from statistics of ten years ago, when only a third of the same population (33 percent of hareidi-religious males) had regular jobs.

At present, 74 percent of hareidi-religious women are employed as well.

In 2013, 43 percent of hareidi-religious men worked; the Economy Ministry hopes to see 63 percent of the population working by 2020.

It is important to note, however, there is great variance in the definition of who meets criteria for “hareidi-religious” in the Jewish world.

Hana Levi Julian

Printed from: http://www.jewishpress.com/news/breaking-news/economy-ministry-figures-show-rise-in-hareidi-male-employment/2015/11/04/

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