Bank Israel: COVID walloped sector worth 20% of GDP
New report shows that leisure and travel, which includes hospitality, restaurants, and airlines, saw their revenue and employment take hits of 21% and 14%, respectively, due to lockdowns.
Economy
Israel eyes another incentive-laden 5G frequency tender in late 2021
As in its prior tender, heavy incentives such as government grants will be provided to cash-strapped mobile companies to participate.
'Bitcoin could hit $300,000 by end of 2021'
Crypto entrepreneur Bobby Lee says that the volatile crypto currency started 2021 at a value of $30,000, and could hit $100,000 by this summer.
Israel's First Digital set to shake up banking services, practices
The bank, which Israel’s banking regulator approved last year, has 140 staff and has begun opening accounts and providing all banking services for a closed group of customers.
Cyprus, Israel, Greece sign deal on electric cable link
The development and implementation of the EuroAsia Interconnector are an additional, key element of the emerging Eastern Mediterranean Energy Corridor.
Finance Ministry releases optimistic projections for COVID-free economy
Ministry said the Israeli economy is expected to grow by 4.9% in the coming year. However, should another lockdown be imposed over the pandemic, growth rates would be only around 2.8%.
Israeli startup's sustainable, slaughter-free meat now on the menu in Brazil
Rehovot-based Aleph Farms partners with Brazil's BRF to co-develop and produce cultivated meat using Aleph Farms' patented platforms.
Record 63.5% of Haredim join Israel's workforce in 2020
Nearly two-thirds (63.5%) of Haredim in Israel were employed in 2020. 50% of ultra-Orthodox men, 63.5% of ultra-Orthodox women now earn their livings.
Abu Dhabi to increase investment in Israel's private sector
Head of Abu Dhabi Investment Office hails opening of Tel Aviv mission, signing of agreements with Economy Ministry as "a significant milestone on a journey to advance collaboration between our two markets in pursuit of solutions that can benefit the wider region."
US equity firm buys Israeli genealogy company MyHeritage for $600M
MyHeritage.com lets people test DNA and track their family lineage. It has a reported 62 million users worldwide and offers its services in 42 languages. The company's database is said to include 13 billion historical records and 58 million family trees on its platform.