Economy

Company officials say they have a backlog of orders for the next four years with a new plant in Abu Dhabi that will start converting 777s.

"The shekel is weakening against the dollar after reports that Russian troops have moved into eastern Ukraine."

As global tourism struggles to its feet after two harrowing years of coronavirus restrictions, Israel Aerospace Industries helps global giants like Amazon and DHL meet e-commerce demand by converting grounded passenger planes into cargo jets.

The central bank holds its benchmark rate at 0.1% for a 15th straight decision but signals it would likely start raising rates soon amid robust economic growth.

Over half of Israelis, 51.1%, blame the government for the rising cost of goods. Just 16.6% of Israelis believe a lack of competition is to blame for the rising cost of living.

"Despite the existing trade ties and the Israeli industry that exists in Morocco, the scope of economic cooperation is limited in relation to the potential, which if realized will significantly contribute to the economic welfare and growth of both countries," says Economy Minister Orna Barbivai.

Israel's gross domestic product grew by 8.1% in 2021, defeating the Bank of Israel's projections of 7.5%. OECD chief Mathias Cormann lauds the Jewish state's economy as "remarkable" and "inspirational."

According to the Central Bureau of Statistics, apartment prices increased by 11.3% over the past 12 months. "The costs are soaring and the government is burying its head in the sand," the Histadrut Labor Federation says indignantly.

The acquisition deepens Intel's presence in a sector dominated by Taiwan-based TSMC, the world's largest chipmaker, at a time when the global semiconductor shortage has hampered the production of everything from smartphones to cars.