Israel’s cabinet approved last week plans to build at a cost of NIS 1.6 billion ($478 million) the nation’s second international airport, to be located in Timna, in the south of the country near the resort city of Eilat.

A similar unemployment rate of 5.9% was recorded on the eve of the financial crisis in 2008. The figures clearly show that the unemployment rate has been steadily falling since the beginning of 2011, from 6.1% in January to 5.7% in May

The Governor of the Bank of Israel Prof. Stanley Fischer has kept the interest rate for July unchanged at 3.25%, after raising it by 25 basis points last month

The 80 years old Amerigo Vespucci which belongs to the Italian Accademia Navale visited the port of Haifa last week

Over the course of the next five years, the Israeli dairy market will also gradually open to international imports

China is now the fourth-largest export destination for Israeli products, rising from 10th place in 2010

According to the Suez Canal Authority, the number of Israeli flagged ships crossing the canal in the first half of 2011 dropped 66.7%

The Ministry of Finance will apply the international economic sanctions against Iran set out in UN Security Council resolutions and Israeli financial institutions will be banned from investment in these companies