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Bank of Israel

Ultra-Orthodox asked to join military to help economy

OCCUPIED JERUSALEM: The Bank of Israel on Sunday warned of economic damage if more ultra-Orthodox Jewish men do not...

Published 01 Apr, 2024 05:34am

Markets

Euro finds footing on hawkish policy remarks, lower energy prices

SINGAPORE: The euro was near a 15-year high on the yen and was firm against the dollar on Thursday, following...

Published 09 Nov, 2023 09:53am

World

Israel central bank sold $8.2bn of forex in Oct, FX reserves dip to $191.2bn

JERUSALEM: The Bank of Israel sold $8.2 billion of foreign currency in October, helping to push its forex reserves...

Published 07 Nov, 2023 05:28pm

Opinion

War and change in the Middle East

Once again war is poised to shake the political calculus of the Middle East. For, it’s always war, never peace...

Updated 12 Oct, 2023 06:34am

Markets

Israel sells $511mn in weekly bond sale amid Gaza war

JERUSALEM: Israeli raised 2 billion shekels ($511 million) in its weekly bond issue that had demand of nearly six...

Published 09 Oct, 2023 05:34pm

Markets

Bank of Israel to sell $30bn of forex to stabilise shekel amid Gaza war

OCCUPIED JERUSALEM: The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open...

Updated 09 Oct, 2023 03:17pm

Markets

Bank of Israel still unsure on digital shekel but garners public support

JERUSALEM: Israel’s central bank said on Monday it had received public support for its plans to possibly issue a...

Published 09 May, 2022 06:01pm

Markets

Bank of Israel says interest rate hikes to start soon as economy strong

JERUSALEM: The Bank of Israel reversed course on Monday, saying it would soon be forced to raise short-term interest...

Published 21 Feb, 2022 09:22pm

Markets

Israeli central bank says financial sector stable in face of global risks

JERUSALEM: Sharp declines in financial asset prices, higher inflation and a new significant wave COVID-19 infections...

Published 14 Feb, 2022 07:04pm

Business & Finance

Bank of Israel holds benchmark interest rate at 0.1%

All 16 economists polled by Reuters had said they expected the monetary policy committee to keep rates steady after doing so ever since cutting them from 0.25% more than a year ago.

Published 05 Jul, 2021 06:23pm

Business & Finance

Bank of Israel bought $3bn of forex in May

The reserves, which represent 48.3% of Israel's GDP, grew $4.35 billion last month, the central bank said.
The Bank of Israel has said it would buy up to 85 billion shekels worth of government bonds.

Published 07 Jun, 2021 06:47pm

Business & Finance

Bank of Israel keeps benchmark interest rate at 0.1pc

Israel's inflation rate moved to 0.8% in April from 0.2% in March, just below the government's 1-3% annual target range. While the economy contracted an annualised 6.5% in the first quarter from the prior three months, growth is expected to reach 4-6% in 2021 given more than half of Israeli adults are already vaccinated and the economy has largely reopened.

Published 31 May, 2021 07:07pm

Business & Finance

Bank of Israel calls for more incentives to get people back to work

Five out of six MPC members had voted to keep Israel's benchmark interest rate at 0.1% on April 19, minutes of the discussions showed on Monday
"The opening of the economy and the return to normal life in Israel are expected to support continued rapid growth in the coming year," the minutes said.

Published 03 May, 2021 07:55pm

Business & Finance

Israel should not extend unpaid leave job benefits, central bank chief says

"Don't extend them," Yaron told Prime Minister Benjamin Netanyahu when he delivered the Bank of Israel's annual report. "Let people understand they need to return to the employment cycle."
Israel's economy shrank 2.5% in 2020 due to the virus, but Yaron said Israel's performance was decent versus other countries due to strong high-tech exports.

Updated 06 Apr, 2021 07:29pm

Business & Finance

Bank of Israel holds benchmark interest rate at 0.1pc

All 15 economists polled by Reuters had said they expected the monetary policy committee to keep rates steady after doing so ever since cutting them from 0.25% early last April.
Central bank officials have expressed reluctance to lower the key rate from an all-time low to zero or into negative territory despite a strong shekel and three lockdowns.

Updated 22 Feb, 2021 10:06pm

Business & Finance

Bank of Israel's statement after monetary policy meeting

The broad unemployment rate increased during the third lockdown, to about 20 percent in the second half of January, after having declined to about 13 percent during the period between the lockdowns.
From the previous interest rate decision until January 14, the shekel strengthened by 3.2 percent in terms of the nominal effective exchange rate.

Updated 22 Feb, 2021 10:06pm

Business & Finance

Bank of Israel to hold rates as economy poised for steep rebound

Rate decision due at 1400 GMT on Monday.
Inflation rate at -0.4% in January.
Economy contracted 2.4% in 2020, seen growing sharply in 2021.
Bank of Israel to buy at least $30 bln of FX to halt shekel rise.

Published 18 Feb, 2021 08:16pm

World

Dented by COVID-19, Israeli economy dips 2.4pc in 2020

It was the first time the economy had shrunk since a marginal decline in 2002, but Israel in 2020 outperformed a 5.5% average contraction in OECD countries.
The economy, which grew 3.4% in 2019, had been expected to shrink 3.3% to 3.7% in 2020 based on government and central bank estimates because of COVID-19.

Published 16 Feb, 2021 05:16pm

Business & Finance

Bank of Israel says COVID crisis has had minimal stability impact

Israel has extended its third and latest lockdown until at least Friday as high levels of COVID-19 infections persist, despite the country's rapid vaccine rollout.
Based on Tax Authority data, the volume of business closures declined markedly during the crisis, the report said.

Published 01 Feb, 2021 07:39pm

Business & Finance

Bank of Israel seeks to prevent 'over-appreciation' of shekel

The central bank said on Thursday it planned to buy $30 billion of foreign currency in 2021 - up from $21 billion in 2020.
We are trying to prevent an over-appreciation of the currency (shekel) in the short term that will make it difficult for companies when the exchange rate comes back

Published 18 Jan, 2021 07:05pm

Business & Finance

Israel economy likely to grow 4.6pc in 2021, says finance minister

Growth in the July-September period was driven by sharp gains in exports (59.7%), private spending (42.3%) and investment in fixed assets (17.2%).

Published 17 Jan, 2021 04:52pm

Business & Finance

Bank of Israel to buy $30 bln of forex in 2021 to stem shekel surge

The shekel earlier in the day reached 3.11 per dollar, its strongest level since 1996. It changed directions after the bank's announcement, weakening to 3.19.
The central bank said the policy change would also support the economy against the ramifications of the COVID-19 crisis.

Published 14 Jan, 2021 09:12pm

World

Israel's health ministry authorizes use of Moderna's COVID-19 vaccine

The Bank of Israel said on Monday it expects the economy to rebound quickly in 2021 if the country's fast start to vaccinating people against COVID-19 is maintained.

Published 05 Jan, 2021 10:43am

Markets

Bank of Israel sees strong rebound if vaccine rolled out quickly

The bank left its benchmark interest rate at 0.1% for a sixth straight meeting, in line with analysts' forecasts in a Reuters poll.
The central bank said that if the rapid rate of inoculation was maintained, it forecast the economy to grow by 6.3% in 2021 and 5.8% in 2022.

Published 04 Jan, 2021 08:44pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 1	278.75
USD PKR Interbank Buying / Jan 1	278.65
USD to Japanese Yen / Jan 1	156.30
USD to Swiss Franc / Jan 1	0.92
Pound Sterling to USD / Jan 1	1.22
Euro to USD / Jan 1	1.03

Stock	Volume
S&P 500 / Jan 1	5,996.66
India Sensex / Jan 1	76,619.33
Tokyo Nikkei / Jan 1	38,451.46
Nasdaq / Jan 1	19,630.20
Hang Seng / Jan 1	19,584.06
FTSE 100 / Jan 1	8,505.22
Dow Jones / Jan 1	43,487.83
Germany DAX 30 / Jan 1	20,903.39

Item	Value
Petrol/Litre / Jan 1	256.13
Crude Oil USD/Barrel / Jan 1	78.88
Karachi Cotton PKR/37.32 KG / Jan 1	18,785
Gold 10 Grams PKR / Jan 1	242,283
Gold Spot USD/Ounce / Jan 1	2,703.25
Diesel/Litre / Jan 1	260.95

Gainers
Losers
Leaders

Stock	Price
Burj Clean Energy Modaraba / Jan 17 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.60 ▲ 1.00 (15.15%)
S.G.Power / Jan 17 S.G. Power Limited(SGPL)	9.51 ▲ 1.00 (11.75%)
Jahangir Sidd(Pref) / Jan 17 Jahangir Sidd(Pref)(JSCLPSA)	10.50 ▲ 1.00 (10.53%)
AN Textile Mill / Jan 17 AN Textile Mills Limited(ANTM)	12.82 ▲ 1.17 (10.04%)
Jah.Sidd. Co. / Jan 17 Jahangir Siddiqui & Co. Ltd.(JSCL)	23.62 ▲ 2.15 (10.01%)
Agritech Non-voting / Jan 17 Agritech Non-Voting Preference(AGLNCPS)	24.20 ▲ 2.20 (10.00%)
Arif Habib Ltd. / Jan 17 Arif Habib Limited(AHL)	66.21 ▲ 6.02 (10.00%)
Bilal Fibres / Jan 17 Bilal Fibres Limited(BILF)	15.95 ▲ 1.45 (10.00%)
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	77.09 ▲ 7.01 (10.00%)

Stock	Price
JS Global Banking / Jan 17 JS Global Banking Sector (ETF)(JSGBETF)	19.77 ▼ -2.75 (-12.21%)
First Capital Equities / Jan 17 First Capital Equities Limited(FCEL)	5.35 ▼ -0.72 (-11.86%)
Tariq Corp.Pref. / Jan 17 Tariq Corporation Limited-Preference Shares(TCORPCPS)	7 ▼ -0.88 (-11.17%)
Service Textile / Jan 17 Service Industries Textiles Limited(SERT)	14.98 ▼ -1.66 (-9.98%)
Gulshan Sp. / Jan 17 Gulshan Spinning Mills Limited(GSPM)	4.01 ▼ -0.43 (-9.68%)
Zahid Jee Textile / Jan 17 Zahidjee Textile Mills Limited(ZAHID)	27.51 ▼ -2.70 (-8.94%)
Mandviwala / Jan 17 Mandviwala Mauser Plastic Industries(MWMP)	21.50 ▼ -2.00 (-8.51%)
Universal Ins. / Jan 17 The Universal Insurance Company Limited(UVIC)	9.23 ▼ -0.65 (-6.58%)
Tata Textile / Jan 17 Tata Textile Mills Limited(TATM)	47.10 ▼ -2.80 (-5.61%)

Stock	Volume
WorldCall Telecom / Jan 17 Worldcall Telecom Limited(WTL)	103,704,415 ▲ 0.01
Cnergyico PK / Jan 17 Cnergyico PK Limited(CNERGY)	37,108,232 ▲ 0.04
Hub Power Co. / Jan 17 The Hub Power Company Limited(HUBC)	36,743,585 ▲ 5.79
Hascol Petrol / Jan 17 Hascol Petroleum Limited(HASCOL)	32,265,861 ▲ 0.83
Dewan Motors / Jan 17 Dewan Farooque Motors Limited(DFML)	28,402,498 ▲ 2.84
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	24,195,904 ▲ 7.01
Pak Refinery / Jan 17 Pakistan Refinery Limited(PRL)	17,625,081 ▲ 0.94
Fauji Foods Ltd / Jan 17 Fauji Foods Limited(FFL)	16,675,539 ▲ 0.30
K-Electric Ltd. / Jan 17 K-Electric Limited(KEL)	16,024,776 ▲ 0.09

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