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BREAKING
Yemeni Armed Forces: The blockade on the Port of Haifa comes following the successful imposition of the siege on the Port of Umm al-Rashrash, which has since ceased operations
Yemeni Armed Forces: The Port of Haifa is now officially part of our target bank
Yemeni Armed Forces calls on companies with ships currently in the Port of Haifa or en route to it to take into account the contents of the statement and any forthcoming announcements
Yemeni Armed Forces: The imposition of a blockade on the Port of Haifa comes in response to the enemy’s escalation of its brutal aggression against Gaza and the continued siege and starvation
Yemeni Armed Forces: Our decisions and operations against the occupying entity will not cease until the aggression on Gaza ends and the blockade on it is lifted
Yemeni Armed Forces: We have decided to begin enforcing a naval blockade on the Port of Haifa, which is now among our list of designated targets
The Israeli occupation has released the child Mohammad, the son of martyr Ahmad Sarhan, whom it abducted earlier today from Khan Younis in the southern Gaza Strip, but his mother remains in detention
UK, France, and Canada in a joint statement: The Israeli Government’s denial of essential humanitarian assistance to the civilian population is unacceptable and risks breaching International Humanitarian Law
Leaders of UK, France, and Canada warn that their countries would take action if "Israel" does not stop a renewed military offensive in Gaza and lift aid restrictions
Putin says Trump in conversation expressed his position on cessation of hostilities in Ukraine

Israeli stocks plummet in value amid fears of escalation in North

  • By Al Mayadeen English
  • Source: Israeli media
  • 28 Jul 2024 14:08
  • 1 Shares
3 Min Read

The Tel Aviv Stock Market has witnessed a drastic decrease in its stock prices, affecting several sectors, including the oil and gas industry.

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  • A man is seen at the Tel Aviv Stock Exchange in
    A man is seen at the Tel Aviv Stock Exchange in Tel Aviv, Palestine, 2011 (AFP)

Israeli stock prices drastically plummeted on Sunday amid fears of a full-scale war against Hezbollah, Israeli Channel 12 reported. 

Against the backdrop of developments on the northern front on the border with Lebanon, the Tel Aviv stock market saw sharp declines in the main indices.

The TA 35 index lost 1.7% of its value, while the TA 90 index decreased by about 2.3%. 

Tel Aviv Bank and Oil/Gas shares lost 1.9% and 3.3% of their values, respectively.

Since the beginning of the Israeli war on Gaza, 46,000 Israeli businesses have closed, according to the Israeli Coface Bdi company.

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The company, specializing in business information for credit risk management, has been analyzing and ranking businesses and companies in the Israeli economy for approximately 35 years.

According to Maariv, Yoel Amir, the CEO of Coface Bdi, explained that the number is considered high and encompasses many sectors, with about 77% of the businesses closed since the beginning of the war, i.e. around 35,000 small businesses with up to five employees.

War expansion north could lead to 'economic darkness': Israeli media

The Israeli newspaper Yedioth Ahronoth, in a report, talked about the "economic darkness" scenario, which deals with the risks of a potential all-out war in the north on the security of the Israeli occupation's capital market, starting from cyber attacks and continuous hacks, through the fear of data leaks and the interruption of vital services, to the flight of investors in the stock market.

In detail, the newspaper reported that in addition to the rush for generators and emergency food supplies due to the fear of war in the north, "there are those working around the clock to fortify the defense wall of the capital market against the threat of an attack that could shake the Israeli economy." 

"Such a scenario is not separated from reality," read the newspaper. According to the Cyber Warfare Formation's report during Operation Al-Aqsa Flood, "so far this year, more than 3,380 cyber attacks have been launched against companies traded on the Israeli stock exchange, 800 of which were identified as potentially damaging."

The Formations' report noted receiving 13,040 reports throughout 2023, verified as cyber events from civilians and organizations. It added that 68% of these attacks "occurred during the Gaza war (from October 7 to December), representing a 43% increase in attack reports compared to 2022."

  • war on Gaza
  • Israel
  • Hezbollah
  • Northern front
  • Israeli occupation
  • Lebanon

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