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☆ Bank of Israel says currency intervention will only be necessary 'if we see market failures'
▼ + stars: | 2023-09-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

This picture taken on August 23, 2022 shows a view of the exterior of the headquarters of the Bank of Israel, the country's central bank, in Kiryat Ben-Gurion in Jerusalem. Bank of Israel Governor Amir Yaron said Tuesday that currency intervention to support the weaker shekel will only be necessary in the event of market failures. "The shekel has had a long relationship with the financial markets abroad, it has been tied to that. "We believe that we should let the market try to figure out that risk premia," he added, noting that markets appear to have "functioned well" in recent months despite the increased volatility. "However, if there will be market failures, which we have not seen thus far or very significant movements that really impede on inflation, then we have the tools to deal with that."

Persons: Gurion, Amir Yaron, Yaron, CNBC's Dan Murphy Organizations: Bank of Israel, Jerusalem . Bank of Israel, U.S Locations: Kiryat Ben, Jerusalem ., Israel

☆ Israel's Netanyahu cools censure of protesting reservists as judicial crisis simmers
▼ + stars: | 2023-08-14 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

Protest leaders say thousands of reservists have stopped reporting for duty. "Brothers in Arms", a reservist protester group, seemed unmoved by the gesture, accusing Netanyahu of playing down risks to military readiness. The Supreme Court will on Sept. 12 hear arguments against a bill limiting some of its powers to void government decisions, which was ratified in a parliament controlled by Netanyahu's religious-nationalist coalition. The military has so far acknowledged a "limited" impact from the reservist protest, citing the loss of some veteran instructors from the air force's flight school. As of now, the IDF (Israel Defence Forces) can handle its missions and the goal is to put this matter behind us," he said.

Persons: Benjamin Netanyahu's, Amir, Benjamin Netanyahu, Netanyahu, IMPACT Netanyahu, Amos Gilad, Tzachi Hanegbi, Dan Williams, Emelia Sithole Organizations: Arms, REUTERS, JERUSALEM, IMPACT, Army Radio, National, Army, IDF, Israel Defence Forces, Thomson Locations: Kiryat Ono, Israel, Iran, Lebanon, Israeli, Syria

☆ Intel to invest $25 billion in Israel factory in record deal, Netanyahu says
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, June 18 (Reuters) - U.S. chipmaker Intel Corp (INTC.O) will spend $25 billion on a new factory in Israel, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country. Under the deal Intel will pay a 7.5% tax rate, up from the current 5%, the ministry added. In 2017, Intel bought Israel-based Mobileye Global Inc (MBLY.O), which develops and deploys advanced driver-assistance systems, for $15 billion. Announcing the deal in televised remarks to his cabinet, Netanyahu called it "a tremendous achievement for the Israeli economy - 90 billion shekels ($25 billion) - the largest investment ever by an international company in Israel". In a statement, Intel said its Israel operations had "played a crucial role" in the company's global success.

Persons: Benjamin Netanyahu, Netanyahu, Dan Williams, Ari Rabinovitch, James Mackenzie Organizations: chipmaker Intel Corp, Israel's Finance Ministry, Intel, Inc, Thomson Locations: Israel, Kiryat Gat

☆ Israel publishes tenders for new West Bank settlement units
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +3 min

JERUSALEM, May 7 (Reuters) - Israel has published tenders for more than 1,000 new housing units in settlements in the occupied West Bank, despite a commitment it made in U.S.-backed talks in February that discussion of new settlement units would be halted for the next four months. Since the meeting in Jordan, attended by U.S., Egyptian, Jordanian, Palestinian and Israeli officials, the Israel Land Authority has published on its website separate tenders for 1,248 new housing units in West Bank settlements. The settlements include Beitar Illit, Efrat, Kiryat Arba, Ma'ale Efraim and Karnei Shomron in addition to 89 units in the East Jerusalem settlement of Gilo. The expansion of settlements in the West Bank has been among the most contentious issues between Israel and the Palestinians and the international community for decades. Israel disputes that and cites biblical, historical and political ties to the West Bank, as well as security interests.

☆ Most armies ignore autistic people. Israel is calling them up.
▼ + stars: | 2023-01-12 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +12 min

He signed up to serve through Ro'im Rachok, a first-of-its-kind program that places autistic people in the military to utilize their valuable skills. Ro'im Rachok, however, allows them to sign up as volunteers. Ro'im Rachok students sit in a circle during a class at Ono Academic College. Israel Defense Forces/ InsiderIt's November, and students of the Ro'im Rachok electronics course are approaching the final month of their training. But because Ro'im Rachok enlistees are volunteers, they can drop out after a year.

KIRYAT ARBA, West Bank—Military towers loom over the highway leading to far-right lawmaker Itamar Ben-Gvir ’s hometown, a settlement next to the Palestinian city of Hebron. Residents walk around with pistols strapped to their thighs, just beside their tzitzit, the ritual tassels mandated by Jewish law, as clusters of children play in the streets. Once largely confined to the fringes of Israeli society, an ultranationalist political outlook forged in Jewish West Bank settlements like Kiryat Arba has now been thrust to the center of Israeli public life by Mr. Ben-Gvir’s success in last week’s election. The Religious Zionism ticket co-led by Mr. Ben-Gvir won 14 seats in the 120-seat Parliament, or Knesset, making it the third-largest party in Israel.

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