web analytics
September 1, 2015 / 17 Elul, 5775
At a Glance

Posts Tagged ‘exports’

Israeli Wine Exports Sparkle [video]

Monday, January 26th, 2015

L’chaim.

Israel wine exports rose 10 percent last year and reached $40 million and total sales were $220 million.

The Israel Export and International Cooperation Institute announced the figures on Monday at the start of the two-day Tel Aviv Sommelier Wine festival.

There is a growing demand from North America, Europe and Asia for Israeli wines, some of which have won dozens of prizes and are rated with top wines from California and France.

“In recent years Israeli won has won international recognition and the rise in wine exports to Asia where the kosher market is insignificant demonstrates the strength of Israel’s wine brand around the world,” the Export Institute Wine Department’s head Ya’ara Shimoni told Globes business newspaper.

Israel has 250 wineries, half of which are commercial operations.

Several wineries produce products from grapes grown n the Golan Heights and Judea and Samaria, where dry summers, cold winters and high altitudes contribute to the grapes’ high quality.

God has not cooperated with the Boycott Israel movement.

This winter has been usually cold and wet, just what the grape vines before waking up in the Spring.

Dollar-Shekel Rate Breaks 4.0 Barrier

Sunday, January 25th, 2015

The Dollar-Shekel exchange rate broke the 4.0 barrier over the weekend reaching 4.0090 — where 1 US dollar is equal to 4 Israeli Shekels.

This is the first time since September 2012 that the dollar-shekel rate broke the 4.0 mark. The 4.0 mark is considered a significant psychological barrier, and it may mean the dollar will continue to strengthen against the shekel.

A stronger dollar is good for tourists visiting Israel and Israeli exporters.

Economists don’t necessarily believe that a weak shekel is is a bad sign for the Israeli economy, as a variety of factors are influencing the exchange rate, and Israel’s fundamentals are solid.

Shekel-Dollar Rate Soars to 3.96 on Election Talk

Tuesday, December 2nd, 2014

The shekel-dollar rate soared to more than 3.96 on Tuesday for the first time in two years as investors dumped shekels and bought dollars due to the almost certain break-up of the government coalition and the need for new elections that will leave the country without a bona fide budget.

The rate rose by one more than 1 percent. An increase of that size has been very rare since nearly a decade ago when the only question was not whether the shekel would weaken but by how much.

The 2015 budget has not been passed, and new elections are exactly what the economy does not need, except for the media that will profit from advertising and the printing presses that will be running day and night to trash the country with party propaganda.

The big winner of the cheap dollar is exporters. A strong currency makes people feel proud, but a cheap currency always boosts exports since the incoming dollars are converted to shekels. The more shekels the dollar is worth, the more profits a company makes.

The downside is that consumers have to pay more shekels for imports.

Globes quoted FXCM as saying, “If we do have elections before the budget is approved, this will be disastrous for the Israeli economy and will severely damage market confidence, both locally and globally, in the Israeli leadership.”

 

 

Shekel Dollar Rates Breaks Year High at 3.64

Tuesday, September 16th, 2014

The shekel-dollar rate continued its non-stop climb Monday and reached beyond 3.64 shekels to the dollar but is near a short-term resistance level of 3.66

The rate two months ago was 3.40, and analysts were predicting a further drop, but The Jewish Press reported here before the recent rise that the situation of everyone being of the same opinion was a sure sign that a reversal to the upside was in sight.

However, our previous report saw resistance around 3.62, a level that easily was broke but still is only 2 cents from the next level of 3.66

The dollar has risen against almost all foreign currencies this summer after years of being in the doldrums. The Federal Reserve Bank has given clear signals that the  near-zero prime interest rate will rise next year, which will give investors a higher return for putting dollars in the bank.

The shekel had been strong, translated into a low shekel-dollar rate, for several years until this summer. The Israeli currency was strengthened in part by the prospect of Israel becoming an exporter of natural gas, but a slowdown in the economy, hastened by the war in Gaza, regional turmoil, and the tough government choice of having to raise taxes or the debt ceiling have combined with the strong dollar to send the shekel-dollar rate north.

This is good news for anyone with money in shekels or who gets paid in dollars because the conversion rate back into shekels is becoming higher each day.

That is equally true for Israeli-based international companies, whose earnings have taken a hit in recent years because of a decline in the shekel-dollar rate.

A cheaper shekel helps increase exports and tourism because more dollars buy more shekels.

On the downside, the higher shekel-dollar rate reflects pessimism over the local economy, which until last year was one of the strongest and most stable in the world, surviving quite well even the global bust in 2008.

“The economy is slowing down sharply, and when you combine this with the fact that Israel is part of the global picture, it’s likely that the shekel will continue to weaken,” Robert Carmeli, overseas funds manager at Migdal Capital Markets to told Globes business newspaper.

He and others are predicting that the shekel-dollar rate will approach 3.80 by the end of the year.

Intel Says It Exported $35 Billion from Israel in 40 Years

Sunday, January 26th, 2014

Intel is celebrating its 40th year in Israel with a report that it has exported one billion silicon processors worth $35 billion .

Last year, $3.5 billion worth of Intel products were exported from Israel, said the chip-making giant, which has received from the government billions of dollars in grants and enticements to locate and expand in Israel.

Intel has grown into Israel’s largest private employer, with 9.800 workers.

“Without innovation in Israel, the company has no right to exist,” said  Intel Israel president Mooly Eden. “Even as we develop and are at the spearhead of fab technology, we’re constantly moving on to the next technology.”

Intel is in the process of asking the Israeli government for $900 million in grants in return for building another new fab plant in Kiryat Gat, located next to the high-speed north-south Highway 6 that connects Be’er Sheva with access roads to Ben Gurion Airport, Jerusalem and Tel Aviv.

Referring to Intel’s not having caught the fad for mobile devices and tablets, Eden told Globes, “There have been several revolutions. We didn’t respond fast enough, and now that there is a new revolution – wearable technology – the expectation is that we will respond more quickly. The fact that we have to close gaps is not part of Intel’s DNA. We are good in offense, not defense, and we should run faster in the next two years, and show that we’re not just closing gaps, but that we’re leading new trends, such as wearable technology and security.”

Israelis to Munch 15,000 Tons of Apples this Rosh Hashanah Season

Tuesday, September 3rd, 2013

The apple and honey tradition on Rosh Hashanah has Israelis consuming 15,000 tons of apples during the month of September, an increase of almost 50 percent  from average consumption during the rest of the year.

Israel’s crop of apples is of a particularly high quality this year, according to Amos Levin, general manager of the Galilee Development Corporation and chairman of the apple division of Israel’s Plants Production and Marketing Board.

“This summer’s relative cooler temperatures, especially at night, helped produce a higher quality of crop,” he said. Levin noted that this year’s crop, harvested from August through November, is excellent for size, color and taste.

Nearly all of Israel’s apples are grown in the hills of the Galilee and the Golan Heights because apples require cold winters and cooler summer nights to grow best.

The northern apple orchards are located on hills that are more than 2,000 feet higher and cover approximately 10,500 acres.

More than 100,000 tons of apples are sold in Israel each year, with the apple market valued at more than $200 million, serving as the core for the local economy in the Golan Heights. Another 7,000 tons of apples are imported into Israel from the United States and Europe.

While Israel exports little of its apples abroad, this year, the country exported 18,000 tons of apples grown by Druze farmers living in the Golan to Syria, in coordination with the Plants Production and Marketing Board, the IDF and the Red Cross. The Druze apple growers of the Golan have been selling to Syria has for the past eight year, but the apple exports were stopped in 2012 when the war situation became too volatile.

This year the apple industry also drew a number of university students from across Israel interested in learning more about agriculture and helping out Golan apple growers.

Sapir college student, Yotam Eyal told Tazpit News Agency that he and his friends have been picking apples for the past month.

“We are college students from all over Israel – from the Negev, Jerusalem, and the north, who are interested in learning more about agriculture and connecting to the land,” Eyal explained. “There are projects that have been initiated in the past year which get students involved in these areas.”

“It’s good to see where a fruit like an apple that you buy in the supermarket comes from,” commented Eyal. “Picking apples all day in the orchard is hard work. But it has made us appreciate dipping the apple in honey that much more this Rosh HaShanah.”

Tale of 2 Debts: Moody’s OKs Israel’s A1 Rating; US Sinks in Red

Thursday, August 15th, 2013

Moody’s Investors Service affirmed the Israeli government’s A1 debt rating Thursday and credited Israel’s stable economy, while in the United States, an economist claims that the national debt is a staggering $70 trillion, 3.5 times the admitted amount.

Moody’s said it is upholding Israel’s current rating because of the resilience of the economy, expectation of a lower debt and favorable diplomacy with, particularly with the United States.

“Growth in the small, open economy has been sustained even with shrinking demand from Europe, a key trading partner,” according to Moody’s. It cited Israel as being a haven for entrepreneurs and a leader in the high-tech industry.

Another strong factor in Israel’s favor is the export of natural gas, which will help reduce the national debt, reduce taxes and create jobs.

On the negative side is “Iran’s nuclear program being the largest threat to Israeli territorial security,” Moody’s added. “However, a certain status quo has been achieved by maintaining a strong military deterrent, close ties with the US and friendly relations between the Israeli, Egyptian and Jordanian armies, It also credited the resumed talks with “helping to reduce Israel’s international diplomatic isolation.”

Coincidentally, IBM announced on Thursday it is buying up the Israeli Trusteer data security company for an estimated $750 million. Previously this year, foreign companies have purchased several Israeli firms for a total of more than $3 billion.

Israel not only has been the eye in the center of the Middle East hurricane that has swept through Arab countries but also has one of the strongest and most stable economies in the Western world.

In the United States, a poll released Thursday by Gallup shows that President Barack Obama’s economy rating is at an all-time low of 35 percent, reflecting large scale unemployment that is not reported because so many Americans have given up looking for work.

In addition, Fox News reported that University of California at San Diego Prof. James Hamilton estimates that the U.S. national debt is $70 trillion, 3.5 times the official debt of $16.9

That works out to approximately $175,000, plus change, for every man, woman and child. And that does not include a tip for the president.

“Hamilton believes the government is miscalculating what it owes by leaving out certain unfunded liabilities that include government loan guarantees, deposit insurance, and actions taken by the Federal Reserve as well as the cost of other government trust funds,” Fox reported. “Factoring in those figures brings the total amount the government owes to a staggering $70 trillion.”

Hamilton is not the first economist to estimate the debt to be so high, but the government prefers its own figures, for obvious reasons.

Eventually, say economists, the Treasury’s printing presses will be working overtime, leading to high inflation and interest rates, a double-whammy that can cause “stag-flation,” a recession with inflation.

The conclusion is that it would be wise to book early for a one-way ticket to Israel.

Printed from: http://www.jewishpress.com/news/tale-of-2-debts-moodys-oks-israels-a1-rating-us-sinks-in-red/2013/08/15/

Scan this QR code to visit this page online: