Economy

Local tourism and aviation sectors to miss out on peak months of July and August, and will have to write off most of 2020.

According to the new plan, all citizens will receive one-time grants with the exception of those earning over NIS 640,000 (approximately $186,000) annually and senior civil servants earning over NIS 30,000 (approximately $8,700) monthly.

Energy Minister Yuval Steinitz calls the deal “a tremendous expression of confidence in the Israeli energy market."

However, the average value of exits in the first half of 2020 was $112 million, the highest since 2015. Global pandemic has had "significant affects" on high tech industry, analyst says.

In June alone, 2,038 Israelis filed for bankruptcy, compared to 1,165 applications in June 2019, Justice Ministry says. Businesses in the restaurants, tourism, and events industries struggle the most.

Bachelors could receive less of a stipend than families affected by the pandemic, The final decision on the matter is due Monday morning.

Eastmed pipeline is meant to transport gas from offshore Israel and Cyprus to Greece and on to Italy. Pipeline is planned to initially carry 10 billion cubic meters of gas a year with the possibility of eventually doubling the capacity.

Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz introduce plan giving every Israeli a "corona crisis grant" to the tune of hundreds of dollars. Critics say plan fails to differentiate between the affluent and those who are truly struggling. Cabinet to vote on plan next week.

Corona crisis pummels the high-tech sector, whose newly unemployed account for 7.6% of all job seekers in Israel, according to the Central Bureau of Statistics.

The prospective buyer is the son of businessman Ken Rozenberg, owner of one of the largest chains of nursing homes in the United States.