<![CDATA[Hedgehogs.net: '' related content (page 4)]]> http://www.hedgehogs.net/tag/israel?offset=30 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11538347/shikun-binui-announces-financial-results-for-the-second-quarter-and-first-half-of-2015 Sun, 30 Aug 2015 16:58:11 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11538347/shikun-binui-announces-financial-results-for-the-second-quarter-and-first-half-of-2015 <![CDATA[Shikun & Binui Announces Financial Results for the Second Quarter and First Half of 2015]]> 11538347 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11538210/jellyfish-invading-mediterranean Sun, 30 Aug 2015 16:55:43 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11538210/jellyfish-invading-mediterranean <![CDATA[Jellyfish 'invading' Mediterranean]]>

http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11537669/israel-holds-rate-warns-of-rising-risks-to-inflation-target Mon, 24 Aug 2015 16:42:25 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11537669/israel-holds-rate-warns-of-rising-risks-to-inflation-target <![CDATA[Israel holds rate, warns of rising risks to inflation target]]>     Israel's central bank left its benchmark interest rate steady at 0.10 percent, as widely expected, but said "the risks to attaining the inflation target, and to growth, have increased," triggering a sharp rise in the shekel.
    The Bank of Israel (BOI), which cut its rate by 15 basis points in February to counter the negative impact on exports and inflation from a rise in the shekel, added that it "will use the tools available to it and will examine the need to use various tools to achieve its objectives of price stability."
    Israel's consumer prices continued to fall in July by an annual 0.3 percent, slightly less than the 0.4 percent in June but inflation has now been negative for the last 11 months.
    The BOI said short-term inflation expectations had declined sharply this month due to the fall in energy and commodity prices and the scheduled reduction in electricity prices, and average expectations for the next 12 months fell to 0.7 percent from 1.0 percent,  below the central bank target range of 1 - 3 percent.
    The Telbor curve, the rate on interbank loans, indicates some probability of a rate cut in the next few months, the BOI said, but added that most private forecasts don't expect a rate cut and forecasters' projection of the benchmark rate in one year remains 0.29 percent, on average.
     Israel's economy slowed sharply in the second quarter with the BOI attributing this to a moderation in world trade, noting that exports of goods and services contracted by 11.6 percent, partly due to labor disruptions in the chemicals industry.
    It added that annual growth in Gross Domestic Product was only 0.3 percent in the second quarter, well below the normal range of growth of 2.5 to 3.0 percent seen in the past two years.
    In addition to rate cuts, the BOI is reported to have been intervening in foreign exchange markets to weaken the shekel which has been firming against the U.S. dollar since mid-March.
    Today the shekel rose to 3.83 against the dollar after the BOI's policy decision from 3.88, to be largely unchanged since the start of the year.
    The BOI noted that since its previous policy decision on July 26, the shekel had weakened by about 1.3 percent against the dollar and by about 4.2 percent against the euro.

    The Bank of Israel issued the following statement that included its main considerations behind its policy decision:

"The main considerations behind the decision 
The decision to keep the interest rate for September 2015 unchanged at 0.1 percent is consistent with the Bank of Israel's monetary policy, which is intended to return the inflation rate to within the price stability target of 1–3 percent a year over the next twelve months, and to support growth while maintaining financial stability. The path of the interest rate in the future depends on developments in the inflation environment, growth in Israel and in the global economy, and the exchange rate of the shekel, as well as on monetary policies of major central banks. 
The following are the main considerations underlying the decision:
·     The rate of increase in the CPI in recent months has been consistent with the inflation target. However, short-term inflation expectations declined sharply this month, against the background of decreases in energy and commodity prices in the past two months and the scheduled reduction in electricity prices; expectations are below the lower bound of the target range. Medium-term and long-term (forward) expectations remained entrenched near the midpoint of the inflation target range. 
·     Indicators of real economic activity are volatile but point to some decline in the growth environment, relative to the 2.5–3.0 percent growth range of the past two years, with a decline in exports against the background of decreased world trade, and continued growth of current consumption. Labor market data indicates that the unemployment rate is low, and the job vacancy rate is relatively high, with employment growth primarily in the services industries. 
·     Some slowdown is apparent in the global growth rate with an increase in the level of risk. Slowing growth in China is negatively impacting economic activity in numerous countries. In recent days there have been sharp declines in global financial markets, and the expected path of the US federal funds rate, as derived from capital markets, is lower than it was last month. 
·     From the monetary policy discussion on July 26, 2015, through August 21, 2015, the shekel weakened by 1.3 percent in terms of the nominal effective exchange rate, but it has appreciated by 5.8 percent for the year to date. Even with the depreciation this month, the development of the exchange rate since the beginning of the year weighs on the growth of exports and of the tradable sector, and is delaying the return of the inflation rate to within the target range.
·     Robust activity in the housing market continued this month as well, and was reflected in an especially elevated level of new home sales, and in an acceleration in the rate of increase of home prices, which have increased by 4.4 percent in the past 12 months. Likewise, the pace of new mortgages taken out remains high.
The Monetary Committee is of the opinion that the risks to attaining the inflation target, and to growth, have increased. The Bank of Israel will continue to monitor developments in the Israeli and global economies and in financial markets. The Bank will use the tools available to it and will examine the need to use various tools to achieve its objectives of price stability, the encouragement of employment and growth, and support for the stability of the financial system, and in this regard will continue to keep a close watch on developments in the asset markets, including the housing market.
The minutes of the monetary discussions prior to the interest rate decision for September 2015 will be published on September 7, 2015. 
The decision regarding the interest rate for October 2015 will be published at 16:00 on Thursday, September 24, 2015."

http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11537651/this-week-in-monetary-policy-israel-kyrgyzstan-hungary-moldova-ukraine-fiji-and-angola Mon, 24 Aug 2015 09:08:24 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11537651/this-week-in-monetary-policy-israel-kyrgyzstan-hungary-moldova-ukraine-fiji-and-angola <![CDATA[This week in monetary policy: Israel, Kyrgyzstan, Hungary, Moldova, Ukraine, Fiji and Angola]]>
    This week (August 24 through August 29) central banks from seven countries or jurisdictions are scheduled to decide on monetary policy: Israel, Kyrgyz Republic, Hungary, Moldova, Ukraine, Fiji and Angola.
    Following table includes the name of the country, the date of the next policy decision, the current policy rate, the change to the policy rate at the last policy meeting, the change to the policy rate year-to-date, the rate one year ago and the country's MSCI classification.
    The table is updated when the latest decisions are announced and can always accessed by clicking on This Week.

AUG 24-AUG 29, 2015:
COUNTRY       DATE           RATE      LATEST        YTD     1 YR AGO    MSCI
ISRAEL 24-Aug 0.10% 0 -15 0.25%       DM
KYRGYZSTAN 24-Aug 8.00% -150 -250 6.50%
HUNGARY 25-Aug 1.35% -15 -75 2.10%       EM
MOLDOVA 26-Aug 17.50% 200 1100 3.50%
UKRAINE 27-Aug 30.00% 0 1600 12.50%       FM
FIJI 27-Aug 0.50% 0 0 0.50%
ANGOLA 28-Aug 10.25% 50 125 8.75%

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11537386/some-difficult-questions-for-canadas-next-pm Sun, 23 Aug 2015 12:21:54 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11537386/some-difficult-questions-for-canadas-next-pm <![CDATA[Some difficult questions for Canada's next PM]]> This is an investment blog and I have tended to be agnostic about politics ts in different regions of the world, preferring to analyze the market implications of different political developments. That has been the main guiding principle of this blog.

However, this is also a personal blog and I am a citizen of Canada, which is undergoing a federal election, and I am going to share my thoughts as part of my readers' weekend reading.

I emigrated to Canada as a boy in 1967, left in 1994 to work in the US and returned in 2007. Canada is my country. Much of my career has been in finance, both on Bay Street and Wall Street. With that preface in mind, I have a number of key (hopefully) thought provoking questions for the potential prime minister of my country on October 20.

I am just a humble investment analyst and therefore the framework for these question are related to either the economy or the economics of different policies. The issue in many of these questions is not to try and assign blame for what might have happened in the past, but to seek an understanding for what course of action the leader of each party is likely to undertake in the future. As Prime Minister Stephen Harper is the incumbent, most of the questions are directed to him.

Prime Minister Stephen Harper, Conservatives
On the economy
I understand the macro-economic philosophy of the Conservatives of lowering taxes to "starve the beast" and smaller government. At what point do you stop and say, "Government is small enough"?

When I left Canada for the US in 1994, the economy was well diversified. Rising commodity prices would benefit the West and hurt the manufacturing heart of Ontario and Quebec. When commodity prices fell, which usually dragged down the CADUSD exchange rate, Ontario and Quebec became more competitive and exports to the US grew. Fast forward to today, a BCG study showed that Canadian manufacturing has fallen dramatically behind its NAFTA partners and the CFO of Ford laughed out loud when asked if the low loonie could entice Ford to locate its manufacturing plant in Canada instead of Mexico.

The macro-economic solution of lower taxes and smaller government appears to have its limits in the problem of deteriorating Canadian manufacturing competitiveness. What plans do you have to re-vitalize manufacturing in Ontario and Quebec? (Please don't say "subsidy", as that is anathema to the Conservative philosophy of getting government out of the way of business).

On fighting terrorism
There appears to be an inconsistency in your position on fighting Middle East based terrorism. You have made it clear many times that you are a strong supporter of Israel. A look at the map shows that Israel borders Syria, which is where many elements of ISIS are located. However, recent reports indicate that Israel isn't assigning a high priority to fighting ISIS and al Qaeda. The Wall Street Journal reported that Israel has lent passive support to the Nusra Front, the Syrian branch of al Qaeda, by treating casualties from Syria on a "don't ask, don't tell" basis:
Only about one-third of the Syrians treated in Israel, however, were women and children. An Israeli military official acknowledged that most of the rebels on the other side of the fence belong to Nusra but said that Israel offered medical help to anyone in need, without checking their identity.

“We don’t ask who they are, we don’t do any screening…Once the treatment is done, we take them back to the border and they go on their way,” he said.
The WSJ further reported that Israel is far more concerned about Iran and its proxies in the region than either ISIS or Al Qaeda:
“There is no doubt that Hezbollah and Iran are the major threat to Israel, much more than the radical Sunni Islamists, who are also an enemy,” said Amos Yadlin, the former head of Israel’s military intelligence who is slated to become minister of defense should the center-left Zionist Union, led by Isaac Herzog, unseat Mr. Netanyahu in Tuesday’s elections.

“Those Sunni elements who control some two-thirds to 90% of the border on the Golan aren't attacking Israel. This gives you some basis to think that they understand who is their real enemy—maybe it isn’t Israel,” Mr. Yadlin added during an interview.
If Israel, your closest ally in the region, doesn't give a high priority to opposing ISIS or Al Qaeda, which is camped on their border, how much priority should Canada give to fighting ISIS and Middle East based terrorists when they are half a world away?

Follow-up question: Canada has wide ranging security concerns and limited resources. Please describe the return on investment, or cost benefit analysis, of devoting such resources to opposing ISIS and terrorism, when reports indicate that the Canadian Forces have suffered more losses from suicides than from terrorism, or combat deaths in Afghanistan?

While we're on the topic of cost benefit analysis, please describe the reasons why Canada is so committed to buying the F-35 fighter when it can't even beat an F-16 in a dogfight?

Justin Trudeau, Liberals
The Liberal support for the Bill C-51 has been high controversial. Please see above question on Israel, Nusra Front and Middle East based terrorism. How would you answer that question. How would you formulate a policy for the Canada's security?

On the economy, please see the above question on the revitalization on Canadian manufacturing in Ontario and Quebec.

Thomas Mulcair, NDP
Just as there appears to be an inconsistency in Mr. Harper's position on Middle East based terrorism, there seems to be one in your energy and environmental policy.

I fully understand the environmental concerns of the NDP to control resource development and, by extension, pipelines like Northern Gateway and Keystone XL. However, the capacity of the current North American pipeline system means that Canadian oil has really nowhere to go except for the United States. Consequently, Americans pay a discount for Canadian oil because they are the only customer that Canada can sell to. In some cases, Canadians pay a higher price for oil than Americans pay. In effect, what we have is a form of reverse NEP in place today. Then, Alberta was selling oil at the world market price abroad and Ottawa wanted a made-in-Canada price that was below the world market price. Today, Alberta is forced to sell both its light and heavy oil at a discount to the world market price because it has only one customer, the United States, while Atlantic Canada imports oil at the higher global market price.

Is selling oil to the United States at a price lower that what some Canadians pay the intent of NDP energy and environmental policy? If not, how would you correct for such a side-effect?

(As the NDP hasn't really articulated a growth plan, I am not going to ask about the revitalization of Canadian manufacturing.)

That's all I have for now. These questions also demonstrate why I will never be running for political office.

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11536488/eltek-receives-orders-amounting-to-11-million-from-three-us-customers-in-the-medical-device-sector Sun, 23 Aug 2015 06:49:31 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11536488/eltek-receives-orders-amounting-to-11-million-from-three-us-customers-in-the-medical-device-sector <![CDATA[Eltek Receives Orders Amounting to $1.1 Million From Three U.S. Customers in the Medical Device Sector]]> 11536488 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11535538/arab-bank-says-report-of-1-bln-settlement-is-inaccurate Sun, 23 Aug 2015 04:51:10 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11535538/arab-bank-says-report-of-1-bln-settlement-is-inaccurate <![CDATA[Arab Bank says report of $1 bln settlement is 'inaccurate']]>

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11535521/israel-hits-syrian-targets-following-rocket-fire-it-says-was-ordered-by-iran Sun, 23 Aug 2015 04:50:55 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11535521/israel-hits-syrian-targets-following-rocket-fire-it-says-was-ordered-by-iran <![CDATA[Israel hits Syrian targets following rocket fire it says was ordered by Iran]]>

http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11534746/a-yearlong-trip-around-the-world-using-only-bitcoin Sun, 23 Aug 2015 03:01:31 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11534746/a-yearlong-trip-around-the-world-using-only-bitcoin <![CDATA[A yearlong trip around the world â using only bitcoin]]>

By Tania Karas


http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11534235/report-israel-planned-iran-strikes Sun, 23 Aug 2015 01:29:19 +0100 http://www.hedgehogs.net/pg/newsfeeds/hhwebadmin/item/11534235/report-israel-planned-iran-strikes <![CDATA[Report: Israel planned Iran strikes]]>