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April CPI shocks with 1.5% jump The April consumer price index rose far more than forecast, just as the March CPI did. April inflation was 1.5%, the highest rate for the month since 2002, when it also rose 1.5%, according to figures released yesterday evening by the Central Bureau of Statistics. In light of the big inflation spurt, it seems Bank of Israel Governor Stanley Fischer will have no choice but to raise June interest rates by 0.25% or even 0.5%, from the current level of 3.25%.
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Tshuva unveils his Peace Channel plans Yitzhak Tshuva unveiled his plans for building the Red Sea-Dead Sea Canal yesterday, known as the Peace Channel, which is to run 166 kilometers from Eilat on the Red Sea north to the Dead Sea.
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Warning bells are ringing in the central bank The Israeli economy is fast slipping into serious inflation. All the analysts predicted that March's Consumer Price Index would be negative, somewhere in the -0.3% range. Instead, prices actually rose by 0.3%, surprising everyone.
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TASE ends the week up on a day of waiting for the CPI The Tel Aviv Stock Exchange was steady for most of the day yesterday, with small ups and downs in the major indexes, similar to the trend in European markets. However, Israeli investors spent the day waiting for the announcement of the April consumer price index, which they expected to be unusually high. What mattered to investors was not the CPI, but whether the Governor of the Bank of Israel, Stanley Fischer, would raise interest rates for June as a result.
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Receiver looks to sell Zeevi's NIS 2.7 billion Bezeq stake Five years after bankrupt business tycoon Gad Zeevi's Bezeq shares were transferred to receivership, an opportunity to sell them may finally have arrived. Zeevi's 17% stake in Bezeq, the Israel Telecommunication Corporation, is currently valued at NIS 2.7 billion and is one of the largest share holdings in Israel that has sat untouched in recent years.
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