Listeners:
Top listeners:
-
play_arrow
Israel Sees More Foreign Investments Despite Wars
By Stefan J. Bos, Chief International Correspondent Worthy News
JERUSALEM (Worthy News) – Foreign investments reportedly increased in Israel despite the Jewish nation’s multifront war in Gaza and Lebanon as well its confrontations with Iran and groups in Syria and Yemen.
In the first half of this year, overseas investments totaled $11.8 billion, an increase of 15 percent over the same period of 2023, said Israel’s finance ministry in its annual foreign investments report published on Tuesday.
Excluding a one-off $15 billion investment by the US’s Intel Corporation, total deals in the first half of 2023 amounted to $7.3 billion by comparison.
“The data for 2024 shows an increasing trend in foreign investment transactions to Israel, and we expect the improvement in the security and political environment to support this trend moving forward,” Shmuel Abramzon, chief economist at Israel’s finance ministry, added.
Discounting the Intel investment, foreign trade deals in 2023 reportedly reached $17.9 billion, Israel’s lowest level since 2019.
The biggest foreign investment deals of 2023 were Intel’s investment at the company’s wafer fabrication site in Kiryat Gat, south of Tel Aviv, the merger of Imperva Inc. with French corporation Thales SA, which totaled around $3.6 billion, and India’s Adani Group’s $1.2 billion investment in the port of Haifa.
CHIP INDUSTRY
The report showed that almost half the investments were in the semiconductor and chip industry, followed by investments in information technology (IT) and life sciences.
Bloomberg News agency and Israel’s financial newspaper Globes first reported Tuesday’s figures.
Bloomberg News concluded that the drop in foreign investment in Israel last year was slightly bigger than the 20 percent global decline reported by the Organisation for Economic Co-operation and Development (OECD).
That decline was mainly linked to the ongoing war triggered by the Hamas attacks in Israel on October 7, 2023, that killed some 1,200 people.
The upheaval over Prime Minister Benjamin Netanyahu’s efforts to reform the judiciary was also attributed to the temporary reduction in foreign investments last year.
Yet as Israel fought back, foreign investments picked up amid “the improvement in the security and diplomatic environment,” stresses Abramzon.
Copyright 1999-2024 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
Five journalists of a television station linked to the Palestinian Islamic Jihad (PIJ), a group designated as a “terrorist organization” by Israel, were killed Thursday in an Israeli air strike on their vehicle in Gaza, the network said.
An increasing number of mass graves are being discovered in Syria since the brutal rule of dictator Bashar al-Assad came to an end at the hands of the Islamic insurgent group Hayat Tahrir al-Sham (HTS) on December 8, TRT reports. Last week, an international war crimes prosecutor said the mass grave sites in Syria show Assad had operated the “machinery of death” against anyone he considered an enemy.
Sudanese civilians are dealing with famine in addition to the death, displacement, maiming, and trauma brought on them by the war for power between Sudan’s National Army and the paramilitary Rapid Support Forces that broke out in April 2023, Courthouse News reports.
A manhunt was underway Thursday for over 1,500 prisoners who escaped in conflict-stricken Mozambique, where at least 56 people were killed since Monday after earlier Christians were attacked, police and human rights watchers said.
Since their power struggle launched Sudan’s current civil war in April 2023, the Sudanese National Army and the paramilitary Rapid Support Forces (RSF) have destroyed the tentative steps that were taken toward securing religious freedom after the ousting of dictator Omar al-Bashir in 2019, Open Doors reports.
Russia’s leading security service suggested Thursday it had uncovered a plot by Kyiv to kill “senior Defense Ministry officials,” prompting Moscow to fire drones at Ukraine, injuring several people.
Israeli air defenses intercepted a ballistic missile fired by Yemen’s Iran-backed Houthi rebels early Wednesday, marking the second consecutive night and fourth attack in a week targeting central Israel in an escalating near-nightly pattern. The same day, the Houthis also launched a drone that crashed in an open area near Ashkelon in southern Israel, according to the Israel Defense Forces.
WHO WE ARE
The Psalms, hymns, and spiritual songs encapsulate the beauty, wisdom, and eternal truths found in the Bible, creating an immersive experience that resonates with believers and seekers alike.
CONTACT
- +1 908 280-4246
- Essex County, USA
- info@tnjrfm.com