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Environmental concerns caused Israel to suspend UAE oil pipeline deal

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Head of marine protection unit accuses Israeli state-owned company of ‘ignoring ministry instructions,’ ‘negligence,’ and ‘impertinence’ in downplaying risks. Israel’s Environmental Protection Ministry said Sunday that it was delaying implementation of a proposed oil transport deal with the United Arab Emirates, freezing a project that has angered environmentalists. The agreement, which followed...

Nachman Ash: the decision on booster vaccines should be left to professional

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Nachman Ash says ministry has direct relationship with pharma companies, and booster decision should be left to experts; serious cases rise as cabinet set to meet on restrictions. The director-general of the Health Ministry said on Thursday that former prime minister Benjamin Netanyahu’s help was not required after the opposition leader spoke with the heads of Pfizer and Moderna about booster...

Non-binding and vague agreement to protect Ukraine angers Kiev

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The United States and Germany have reached an agreement on the controversial gas project Nord Stream 2. If Moscow uses the gas pipeline that runs from Russia to Germany to exert political pressure, it risks sanctions. “Should Russia try to use energy as a weapon or take further aggressive actions against Ukraine, Germany will take action itself and insist on sanctions at European...

US crude reserves grow for ninth week in a row

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Crude oil stocks in the United States increased last week, after nine weeks in a row. This was shown on Wednesday by figures from the US Energy Agency EIA. In the week ending 16 July crude oil stocks increased by 2.1 million barrels to 439.7 million barrels. Gasoline stocks fell by 0.1 million barrels to 236.4 million barrels. Stocks of fuel oil and diesel fell by 1.3 million barrels to 141.0...

Finance Minister Avigdor Liberman to bring budget to cabinet in August, seeks hike in home property tax

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Finance minister says he hopes for 5% annual economic growth in next 4 years, budget deficit target of 7.1% of GDP for 2021 is reachable. Finance Minister Avigdor Liberman on Tuesday said that he will present the 2021-2022 state budget for a cabinet vote in the first week of August, with the aim of having the Knesset pass it by the November deadline. Liberman said he believes the budget will pass...

German production levels decreased in May

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Production in the German industry decreased in May compared to the previous month. This was shown on Wednesday by figures from Destatis, the German statistical office. Production, adjusted for seasonality and working days, was 0.3 percent lower in May than in April. Economists were counting on an increase of 0.5 percent. On an annual basis, however, industrial production was 17.3 percent higher...

Chinese Industry sentiment index still positive

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Chinese industry and services continued to slow down in June. This was shown on Wednesday by figures from the Chinese government. The industry index fell from 51.0 in May to 50.9 in June, but it was better than the expected 50.7. It is now the third month in a row that growth is slowing down. The index measuring the activity of the Chinese service sector reached 53.5 in June compared to 55.2 in...

Chinese economic data: retail sales 12.4 percent up, industrial output 8.8 up

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Retail sales in China also increased sharply in May, but less than in previous months. This was shown on Wednesday by government figures. Sales increased 12.4 percent year-on-year in May. The first months of this year saw increases of more than 30 percent, after which in April the increase dropped to 17.7 percent. The annual increase in May is below the expectations of economists of 13.6 percent...

Eurozone industrial production better than expected with impressive 39.9 percent annual growth

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Industrial production in the euro area increased more than expected in April. This was shown on Monday by statistics office Eurostat. Production, adjusted for seasonality, increased by 0.8 percent in April compared to march, with 0.3 percent growth expected in advance. In March, monthly production grew by 0.1 percent. Compared to a year earlier, industrial production even increased by 39.3...

US Senate approves 250 billion investment package to close the tech gap

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On Tuesday, the US Senate approved a $250 billion government investment for technological research and development. 68 members of the Senate approved the proposal, while 32 voted against. The plans still have to be approved by the House of Representatives. Public investment in scientific research has been declining for years, as has the position of the US semiconductor industry. Of this amount...

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