Political World Comments Box SVG iconsUsed for the like, share, comment, and reaction iconsמושחתים נמאסתם - We're Tired of the Corruption 2 חודשים Bank of America exec confident about Israel's economyAharon Katz - Globes ReporterBernard Mensah, president of International at Bank of America, sees Israel's tech sector becoming even more attractive.Israel’s economic situation seems very unclear. The Knesset has entered its long summer recess, and will not convene again until October. When that happens, it is not certain whether the judicial overhaul will continue or not, and how the economy might respond either way. The international credit rating agencies have issued warnings about the political uncertainty, and indicated that it might affect Israel’s rating.Despite the uncertainty, at least one prominent US banker is confident about Israel’s economy, and sees the situation improving substantially. Bernard Mensah, president of International at Bank of America, talks to "Globes" about how the bank perceives the situation in Israel.Bank of America is one of the biggest investment banks in the world, and the second largest bank in the US in terms of market cap. It serves customers in more than 100 countries, among them, of course, Israel. In his interview, Mensah refused to comment on the current crisis in Israel, but a report by Bank of America analysts published in early July stated that, in the short term, the volatility in Israel could be expected to continue, and that the depreciation of the shekel created a risk of further interest rate hikes by the Bank of Israel.The report stressed that both supporters and opponents of the judicial overhaul in Israel had an interest in compromise and consensus."The economy in Israel is dynamic and driven by the technology industry. Nevertheless, as in many other countries, the global slowdown affected Israel as well, and the technology space," Mensah began when asked about the situation in Israel."Our research team sees a slowdown in economic growth this year, to a level of 2.5%," he says. "Despite Israel’s special social and political challenges, this is still faster growth than we are seeing in many other parts of the world."The growth forecast by Mensah and the Bank of America analysts is not high, and if Israel’s natural population growth rate of about 2% annually is taken into account, then GDP growth per capita is much lower.Moreover, this is a lower forecast than the latest revised forecast by the Bank of Israel in July, which projects 3% growth for the Israeli economy in 2023.The Bank of America forecast is, however, in line with that of Morgan Stanley, and higher than that of S&P, which sees a very low growth rate for Israel this year of 1.5%, which would make growth per capita negative."When the global forecast improves, Israel will be able to restart its economy. The country’s economy is cooling, inflation is falling, and economic ties in the region are on an improving trend. Fortunately, the inflation shock is small, and much more limited in comparison with other economies, and so the adjustments required will be less painful. Since the labor market is still tight, our economists see a softer landing in Israel, particularly in comparison with many other countries," Mensah says.Commenting on the Bank of Israel’s actions to bring the rate of inflation down, he adds, "While the Bank of Israel has succeeded in tightening its policy and turning the inflation trend downwards again, inflation is still high. Like other central banks around the world, we think that the Bank of Israel will exercise patience in reducing interest rates. Our analysts do not see any cuts this year, and in their view the inflation rate will be 3.6% by the year end." Here, Bank of America’s forecast is actually similar to that of the Bank of Israel, which sees an inflation rate at the end of the year of 3.5%.In the interview with him, Mensah stresses Israel’s strength as a country that generates startups producing innovation as added value. "Israel is known as ‘the startup nation’. This is mainly thanks to its strong human capital, large government spending on research and development, leading universities, an entrepreneurial culture, and innovative technology."In the past two decades, Israel has become a world center in several technological segments, among them autotech, cyber, foodtech, cleantech, fintech, and Internet. The US market is the most important market for Israeli companies, and is critical for the continued success and growth of these companies."Where do you see new investment opportunities? What will Israel’s next big opportunity be?"The Israeli high-tech industry has great value, and when global growth recovers, we believe that it will become more attractive, and will generate opportunities in many areas, including in agriculture, artificial intelligence, quantum computing, fusion, cybersecurity, and cleantech."If I had to point to one opportunity, I’d point to the importance of AI in enterprise strategy and in investment. The rate of opportunities now being created by AI is amazing, which of course is good news for Israel."The whole world is preoccupied with this. I have just returned from hosting our annual conference on breakthrough technology, which discussed how it’s possible to continue developing the discourse on where we go from here. We brought together a group of world pioneers, thinkers, risk takers, academics, commentators, moderators and investors. All of them are inspired by the latent possibilities in science, in technology, and in the way all these elements are connected to money."In terms of where Bank of America invests, the cautious answer is: everywhere. The existence of a successful branch here in Israel and around Europe is a critical element in our international strategy. That way, we continue to take market share in our corporate and investment banking business and in global markets, while we continue to focus on responsible growth."How should Israeli companies behave when they come to enter the US market?"Founders and senior managers must examine the best way of establishing a strong foothold in the US market right from the early stages of setting up their companies. That can be achieved through strong support from US shareholders, strategic alliances, and support from large US banks.""Global economy still in transitionMensah deals in planning and executing Bank of America’s global strategy, and so his knowledge of what is happening in the world is immense, and it’s hard not to wonder what he thinks about the global economy, when it is still not clear whether it will emerge from the current economic crisis without a recession ... See MoreSee Less View Comments Likes: 0 Comments: 0 Shares: 0 Share Share on Facebook Share on Twitter Share on Linked In Share by Email 0 CommentsComment on Facebookמושחתים נמאסתם - We're Tired of the Corruption 2 חודשים Ben-Gurion's big mistake, whose price only increases and causes a sharp dispute between secular and religious people that is getting stronger against the background of a claim of inequality in the burden between the ultra-Orthodox and the secular, when the secular serve in the army and are the economic engine of the country's development. Ben-Gurion, the first Prime Minister of Israel from the founding of the state, bequeathed to the State of Israel in the field of religion and the state, the historical disaster of the postponement of service to the members of the yeshivas, and also a logical compromise in the form of the status quo agreement - but according to Shahar Ilan, a writer for the Walla newspaper, this achievement has also eroded over the years The article was published by Shahar Ilan Aton and voila. The cliché is true: great people make great mistakes (among other things because they make great decisions). There is no doubt that one of the biggest mistakes that the founder of the country, David Ben-Gurion, made, was the introduction of the order to postpone the service for yeshiva voters. A common assumption is that Ben-Gurion agreed to the settlement based on the assumption that this is a world that is becoming extinct, and its memory must be preserved. But reality revealed that this world was far from extinct. If in 1948 the exemption was granted to 400 people of all ages, in 2011 the number of recipients of the postponement reached 63 thousand - an increase of more than 15 thousand percent. To a large extent, the yeshiva world owes its restoration to Ben-Gurion's decision. In particular, he owes this to the fact that Ben-Gurion did not set a quota that would limit the number of recipients of deferred service, and to the fact that it was decided that a yeshiva student who received deferred service would not be able to work. This created a great incentive for the ultra-Orthodox youth to stay in the yeshiva and not go out to work. The army essentially became the jailer who imprisoned the ultra-Orthodox youth in yeshiva. ... See MoreSee Less View Comments Likes: 0 Comments: 0 Shares: 0 Share Share on Facebook Share on Twitter Share on Linked In Share by Email 0 CommentsComment on Facebookמושחתים נמאסתם - We're Tired of the Corruption 3 חודשים The difference between Ehud Olmert and Bibi Netanyahu. Ehud Olmert, a convicted criminal! Bibi Netanyahu has the "presumption of innocence" defined in legal proceedings throughout the enlightened world. According to the conduct and evidence in court hearings in the 1000/2000/4000 cases It seems that there is no escape from the establishment of a state committee to review the conduct of the Lahav 433 police and the attorney's office in submitting the legal cases against a sitting prime minister to the court. Below is an explanation of the "presumption of innocence" for the accused in court. The presumption of innocence is a presumption that a person is not guilty, until proven otherwise. In other words, it is a possession but not a final possession. The purpose of this holding: in the democratic and modern regime, a person must first be convicted of crimes, through evidence, and only then, the punishment of that person must be ordered. In fact, the presumption of innocence is the cornerstone of all criminal law and not only in the State of Israel, but in every modern country. More than that: the presumption of innocence is not a presumption established by law, but a legal presumption, derived from the basic democratic and legal principles of the State of Israel ... See MoreSee Less View Comments Likes: 0 Comments: 0 Shares: 0 Share Share on Facebook Share on Twitter Share on Linked In Share by Email 0 CommentsComment on Facebookמושחתים נמאסתם - We're Tired of the Corruption 3 חודשים The difference between Ehud Olmert and Bibi Netanyahu. Ehud Olmert, a convicted criminal! Bibi Netanyahu has the "presumption of innocence" defined in legal proceedings throughout the enlightened world. According to the conduct and evidence in court hearings in the 1000/2000/4000 cases It seems that there is no escape from the establishment of a state committee to review the conduct of the Lahav 433 police and the attorney's office in submitting the legal cases against a sitting prime minister to the court. Below is an explanation of the "presumption of innocence" for the accused in court. The presumption of innocence is a presumption that a person is not guilty, until proven otherwise. In other words, it is a possession but not a final possession. The purpose of this holding: in the democratic and modern regime, a person must first be convicted of crimes, through evidence, and only then, the punishment of that person must be ordered. In fact, the presumption of innocence is the cornerstone of all criminal law and not only in the State of Israel, but in every modern country. More than that: the presumption of innocence is not a presumption established by law, but a legal presumption, derived from the basic democratic and legal principles of the State of Israel ... See MoreSee Less View Comments Likes: 0 Comments: 0 Shares: 0 Share Share on Facebook Share on Twitter Share on Linked In Share by Email 0 CommentsComment on Facebookמושחתים נמאסתם - We're Tired of the Corruption 3 חודשים NANNY BABY BREATHING MOVEMENT MONITOR APPROVED MEDICAL DEVICE IN EU (THE WORLD HEALTH ORGANIZATION IN THE EUROPEAN REGION& JA (JAPANESE MINISTRY OF HEALTH) AS USED IN MATERNITY HOSPITAL WARDS KNOWINGLY THAT NANNY MONITOR MAY SAVE BABY'S LIFEParents fear that their newborn may suffer from respiratory distress syndrome (SID) and in order to preserve the baby's health, they intend to purchase a Breathing Movement Monitor, it is very important to read the professional opinion of doctors who specialize in the appearance of Baby Sudden Infant Death Syndrome listed in the link below ... See MoreSee Less Message Page+1 View Comments Likes: 9 Comments: 3 Shares: 1 Share Share on Facebook Share on Twitter Share on Linked In Share by Email 3 CommentsComment on Facebookcan this find out for sidsBreath word has not been sown yet. אין עוד פוסטים No posts found.
Bank of America exec confident about Israel's economy
Aharon Katz - Globes Reporter
Bernard Mensah, president of International at Bank of America, sees Israel's tech sector becoming even more attractive.
Israel’s economic situation seems very unclear. The Knesset has entered its long summer recess, and will not convene again until October. When that happens, it is not certain whether the judicial overhaul will continue or not, and how the economy might respond either way. The international credit rating agencies have issued warnings about the political uncertainty, and indicated that it might affect Israel’s rating.
Despite the uncertainty, at least one prominent US banker is confident about Israel’s economy, and sees the situation improving substantially. Bernard Mensah, president of International at Bank of America, talks to "Globes" about how the bank perceives the situation in Israel.
Bank of America is one of the biggest investment banks in the world, and the second largest bank in the US in terms of market cap. It serves customers in more than 100 countries, among them, of course, Israel. In his interview, Mensah refused to comment on the current crisis in Israel, but a report by Bank of America analysts published in early July stated that, in the short term, the volatility in Israel could be expected to continue, and that the depreciation of the shekel created a risk of further interest rate hikes by the Bank of Israel.
The report stressed that both supporters and opponents of the judicial overhaul in Israel had an interest in compromise and consensus.
"The economy in Israel is dynamic and driven by the technology industry. Nevertheless, as in many other countries, the global slowdown affected Israel as well, and the technology space," Mensah began when asked about the situation in Israel.
"Our research team sees a slowdown in economic growth this year, to a level of 2.5%," he says. "Despite Israel’s special social and political challenges, this is still faster growth than we are seeing in many other parts of the world."
The growth forecast by Mensah and the Bank of America analysts is not high, and if Israel’s natural population growth rate of about 2% annually is taken into account, then GDP growth per capita is much lower.
Moreover, this is a lower forecast than the latest revised forecast by the Bank of Israel in July, which projects 3% growth for the Israeli economy in 2023.
The Bank of America forecast is, however, in line with that of Morgan Stanley, and higher than that of S&P, which sees a very low growth rate for Israel this year of 1.5%, which would make growth per capita negative.
"When the global forecast improves, Israel will be able to restart its economy. The country’s economy is cooling, inflation is falling, and economic ties in the region are on an improving trend. Fortunately, the inflation shock is small, and much more limited in comparison with other economies, and so the adjustments required will be less painful. Since the labor market is still tight, our economists see a softer landing in Israel, particularly in comparison with many other countries," Mensah says.
Commenting on the Bank of Israel’s actions to bring the rate of inflation down, he adds, "While the Bank of Israel has succeeded in tightening its policy and turning the inflation trend downwards again, inflation is still high. Like other central banks around the world, we think that the Bank of Israel will exercise patience in reducing interest rates. Our analysts do not see any cuts this year, and in their view the inflation rate will be 3.6% by the year end." Here, Bank of America’s forecast is actually similar to that of the Bank of Israel, which sees an inflation rate at the end of the year of 3.5%.
In the interview with him, Mensah stresses Israel’s strength as a country that generates startups producing innovation as added value. "Israel is known as ‘the startup nation’. This is mainly thanks to its strong human capital, large government spending on research and development, leading universities, an entrepreneurial culture, and innovative technology.
"In the past two decades, Israel has become a world center in several technological segments, among them autotech, cyber, foodtech, cleantech, fintech, and Internet. The US market is the most important market for Israeli companies, and is critical for the continued success and growth of these companies."
Where do you see new investment opportunities? What will Israel’s next big opportunity be?
"The Israeli high-tech industry has great value, and when global growth recovers, we believe that it will become more attractive, and will generate opportunities in many areas, including in agriculture, artificial intelligence, quantum computing, fusion, cybersecurity, and cleantech.
"If I had to point to one opportunity, I’d point to the importance of AI in enterprise strategy and in investment. The rate of opportunities now being created by AI is amazing, which of course is good news for Israel.
"The whole world is preoccupied with this. I have just returned from hosting our annual conference on breakthrough technology, which discussed how it’s possible to continue developing the discourse on where we go from here. We brought together a group of world pioneers, thinkers, risk takers, academics, commentators, moderators and investors. All of them are inspired by the latent possibilities in science, in technology, and in the way all these elements are connected to money.
"In terms of where Bank of America invests, the cautious answer is: everywhere. The existence of a successful branch here in Israel and around Europe is a critical element in our international strategy. That way, we continue to take market share in our corporate and investment banking business and in global markets, while we continue to focus on responsible growth."
How should Israeli companies behave when they come to enter the US market?
"Founders and senior managers must examine the best way of establishing a strong foothold in the US market right from the early stages of setting up their companies. That can be achieved through strong support from US shareholders, strategic alliances, and support from large US banks."
"Global economy still in transition
Mensah deals in planning and executing Bank of America’s global strategy, and so his knowledge of what is happening in the world is immense, and it’s hard not to wonder what he thinks about the global economy, when it is still not clear whether it will emerge from the current economic crisis without a recession ... See MoreSee Less
0 CommentsComment on Facebook
Ben-Gurion's big mistake, whose price only increases and causes a sharp dispute between secular and religious people that is getting stronger against the background of a claim of inequality in the burden between the ultra-Orthodox and the secular, when the secular serve in the army and are the economic engine of the country's development.
Ben-Gurion, the first Prime Minister of Israel from the founding of the state, bequeathed to the State of Israel in the field of religion and the state, the historical disaster of the postponement of service to the members of the yeshivas, and also a logical compromise in the form of the status quo agreement - but according to Shahar Ilan, a writer for the Walla newspaper, this achievement has also eroded over the years
The article was published by Shahar Ilan Aton and voila.
The cliché is true: great people make great mistakes (among other things because they make great decisions). There is no doubt that one of the biggest mistakes that the founder of the country, David Ben-Gurion, made, was the introduction of the order to postpone the service for yeshiva voters. A common assumption is that Ben-Gurion agreed to the settlement based on the assumption that this is a world that is becoming extinct, and its memory must be preserved.
But reality revealed that this world was far from extinct. If in 1948 the exemption was granted to 400 people of all ages, in 2011 the number of recipients of the postponement reached 63 thousand - an increase of more than 15 thousand percent. To a large extent, the yeshiva world owes its restoration to Ben-Gurion's decision. In particular, he owes this to the fact that Ben-Gurion did not set a quota that would limit the number of recipients of deferred service, and to the fact that it was decided that a yeshiva student who received deferred service would not be able to work. This created a great incentive for the ultra-Orthodox youth to stay in the yeshiva and not go out to work. The army essentially became the jailer who imprisoned the ultra-Orthodox youth in yeshiva. ... See MoreSee Less
0 CommentsComment on Facebook
The difference between Ehud Olmert and Bibi Netanyahu.
Ehud Olmert, a convicted criminal!
Bibi Netanyahu has the "presumption of innocence" defined in legal proceedings throughout the enlightened world.
According to the conduct and evidence in court hearings in the 1000/2000/4000 cases
It seems that there is no escape from the establishment of a state committee to review the conduct of the Lahav 433 police and the attorney's office in submitting the legal cases against a sitting prime minister to the court.
Below is an explanation of the "presumption of innocence" for the accused in court.
The presumption of innocence is a presumption that a person is not guilty, until proven otherwise. In other words, it is a possession but not a final possession. The purpose of this holding: in the democratic and modern regime, a person must first be convicted of crimes, through evidence, and only then, the punishment of that person must be ordered. In fact, the presumption of innocence is the cornerstone of all criminal law and not only in the State of Israel, but in every modern country. More than that: the presumption of innocence is not a presumption established by law, but a legal presumption, derived from the basic democratic and legal principles of the State of Israel ... See MoreSee Less
0 CommentsComment on Facebook
The difference between Ehud Olmert and Bibi Netanyahu.
Ehud Olmert, a convicted criminal!
Bibi Netanyahu has the "presumption of innocence" defined in legal proceedings throughout the enlightened world.
According to the conduct and evidence in court hearings in the 1000/2000/4000 cases
It seems that there is no escape from the establishment of a state committee to review the conduct of the Lahav 433 police and the attorney's office in submitting the legal cases against a sitting prime minister to the court.
Below is an explanation of the "presumption of innocence" for the accused in court.
The presumption of innocence is a presumption that a person is not guilty, until proven otherwise. In other words, it is a possession but not a final possession. The purpose of this holding: in the democratic and modern regime, a person must first be convicted of crimes, through evidence, and only then, the punishment of that person must be ordered. In fact, the presumption of innocence is the cornerstone of all criminal law and not only in the State of Israel, but in every modern country. More than that: the presumption of innocence is not a presumption established by law, but a legal presumption, derived from the basic democratic and legal principles of the State of Israel ... See MoreSee Less
0 CommentsComment on Facebook
NANNY BABY BREATHING MOVEMENT MONITOR APPROVED MEDICAL DEVICE IN EU (THE WORLD HEALTH ORGANIZATION IN THE EUROPEAN REGION& JA (JAPANESE MINISTRY OF HEALTH) AS USED IN MATERNITY HOSPITAL WARDS KNOWINGLY THAT NANNY MONITOR MAY SAVE BABY'S LIFE
Parents fear that their newborn may suffer from respiratory distress syndrome (SID) and in order to preserve the baby's health, they intend to purchase a Breathing Movement Monitor, it is very important to read the professional opinion of doctors who specialize in the appearance of Baby Sudden Infant Death Syndrome listed in the link below
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can this find out for sids
Breath word has not been sown yet.
אין עוד פוסטים