Israel News
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Updated 6 minutes ago
President Barack Obama is heading to Scranton, Pennsylvania, for the first time since taking office to press Congress on extending a payroll tax cut for workers and shore up support from a key electoral constituency.
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Updated 2 hours, 27 minutes ago
Mellanox Technologies Ltd. is posting its biggest advance since 2009 as speculation mounts the Israeli maker of electronic adapters will become the second technology company in Tel Aviv’s benchmark TA-25 Index.
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Israel inflation-linked bonds headed for the biggest monthly gain in more than a year on investor speculation consumer prices will rise and after the Bank of Israel lowered borrowing costs.
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Israel’s three biggest lenders, Bank Leumi Le-Israel Ltd., Bank Hapoalim Ltd. and Israel Discount Bank Ltd., reported a decline in third-quarter profit as the economy slowed and they set aside more money for bad loans.
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Matthew Bronfman, the chairman of Israel Discount Bank Ltd., said high food prices that sparked demonstrations in Israel this year are due to a steep value- added tax and protestors are wrong to blame retailers.
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The Tel Aviv Stock Exchange is challenging a state plan to break up conglomerates that control 41 percent of listed companies, saying the recommendations will stem initial public offerings and lower trading levels.
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Rockets fired from southern Lebanon struck northern Israel overnight, the first such incident since October 2009, the Israeli army said.
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Syrian Foreign Minister Walid al- Muallem called the Arab League’s sanctions against his country a declaration of “economic war” as a United Nations human-rights panel said Syrian forces had committed crimes against humanity.
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The bravery of the youth of Tunisia, Egypt, Syria and Libya can’t be denied. It isn’t pepper spray that they’ve been facing. Nor can the idealism of the Arab Spring be denied. The people of the Middle East are finally awakening to the promise of liberty.
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The Bank of Israel cut its benchmark interest rate for the second time in three months as it warned that the European debt crisis is “becoming more severe and is spreading.”
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