Israeli Prime Minister Benjamin Netanyahu’s botched efforts to replace Stanley Fischer have fueled concerns the Bank of Israel won’t keep the shekel in check, hurting the country’s export-driven economy.
Clal Industries and Investments Ltd. and its cement unit Nesher would be “significantly” affected should the recommendations of a committee on the cost of living be implemented, Clal said today in a statement to the Tel Aviv Stock Exchange. The panel was headed by Israeli economist Manuel Trajtenberg.
Israeli inflation expectations declined to the lowest level in more than three weeks after the cabinet approved proposals from the government-appointed Trajtenberg committee to address cost-of-living complaints.
Israel should raise taxes on companies and on individuals who earn more than about $130,000 a year, according to a panel appointed by Prime Minister Benjamin Netanyahu in response to protests over the cost of living.
Cellcom Israel Ltd., the mobile phone company controlled by billionaire Nochi Dankner, fell the most in a month in New York, joining a rout in the nation’s biggest holding companies as Prime Minister Benjamin Netanyahu proposed breaking up conglomerates to spur competition.
Gazit-Globe Ltd., the Tel Aviv-based real-estate investor that owns properties in New York, San Francisco and Sao Paulo, may become the first Israeli company to sell shares on the New York Stock Exchange in four years.