Economy

The overall Industrial Production Index (IPI) in Palestine increased in August by 14.47% compared to July, today said the Palestinian Central Bureau of Statistics (PCBS).

The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) announced it will be seeking $800 million to maintain services to the Palestinian refugees at a donor conference scheduled for November in Brussels.

Palestine and Denmark signed a $72 million grant agreement over the next five years, which PA Prime Minister Mohammad Shtayyeh described as part of the process to reach independence.

Nearly 25 per cent of Israeli families with children are experiencing food insecurity, new data from Israel's largest anti-poverty NGO shows.

The head of the Popular International Committee to Support Palestine has said that lifting the siege on Gaza, reconstruction across the coastal territory and improving the living conditions of its residents are non-negotiable human rights.

The Ministry of Public Works and Housing in the besieged Gaza Strip announced that reconstruction of the enclave is set to begin soon but there are fears that donor countries will not fulfil their pledges.

Fifteen years ago, the Israeli authorities imposed a severe blockade on the Gaza Strip's population of more than 2, 200,000 people in a geographical area of just 360 km.

Qatar's envoy to Gaza said on Monday that aid from his country will be distributed soon in Gaza, including to employees of the Hamas government, AFP reports.

Israeli airlines are facing new waves of mass layoffs and potential collapse as the global aviation market continues to be pummeled by the COVID-19 pandemic.

The grant is provided by Germany, in partnership with Ireland, Finland, and Norway, to support the education sector.

The background is the intention of Israel's airlines to shed more workers. Disruptions to flights could start within two weeks.

A senior official from the Palestinian Islamic Resistance Movement, Hamas, says the Palestinian nation and resistance groups will not remain silent in the face of the deteriorating economic situation in the Gaza Strip caused by the tight Israeli blockade, and will take proper measures to assuage the sufferings of the local people.

Despite the stifling blockade on the Gaza Strip, a man from Gaza managed to manufacture a single-seat sand race car in his small shop using rudimentary tools and secondhand spare parts.

Zionist regime’s opposition leader Benjamin Netanyahu and his family are vacationing on a Hawaiian island owned almost wholly by Jewish-American billionaire Larry Ellison, a prosecution witness in the ex-premier’s criminal cases.

The Government of Japan signed a contribution agreement worth 400,000,000 Japanese Yen (approximately $3.7 million) with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) in the presence the Minister of Foreign Affairs of Japan, Toshimitsu Motegi, and the Minister of Foreign Affairs of the Palestinian Authority, Riyad Malki, and UNRWA Director of Partnerships Karim Amer.

Palestinian Authority’s Prime Minister Mohammad Shtayyeh on Tuesday described Israel's deduction of Palestinian tax revenues as "illegal", Anadolu Agency reported.

A study published by the International Committee of the Red Cross (ICRC) has revealed that about 80 per cent of the population in the Gaza Strip live in "complete darkness" amid a severe power shortage.

Zionist regime on Sunday prevented the entry of fuel trucks allocated for Gaza's sole power plant via the Kerem Shalom crossing, the territory's main commercial trade route.

Hady Amr calls on Israel to take steps to improve economic, political situation of Palestinian Authority.

Hamas Movement has warned on Wednesday that failure to solve the humanitarian crises of the Gaza Strip will generate a new crisis for the Israeli occupation, stressing that the Palestinians will win their rights and break the siege at any cost.

PCBS: Unemployment rate among individuals aged 20-29 years with an intermediate diploma or bachelor's degree (BA) reached 54% in 2020.

Naji Sarhan, the Undersecretary of the Palestinian Ministry of Public Works and Housing, said on Monday that the total losses and damages in the Gaza Strip as a result of the latest Zionist regime’s aggression amounted to $479 million.

The Zionist regime is set to withhold $180 million in tax revenue it collected last year on behalf of the Ramallah-based Palestinian Authority (PA), the regime’s new cabinet said on Sunday.

The number of homeless people in the territories occupied by the Zionist regime rose by 27 percent in 2020 as the coronavirus caused a rise in joblessness and economic distress, data from Israel's Labor, Social Affairs and Social Services Ministry reveal.

Qatar Charity (QC) has hired more than 50,000 Palestinian graduates and creatives remote jobs through its 'Taqat' initiative.

Palestine Authority Finance Minister Shukri Bishara and Health Minister Mai Alkaila signed the papers for the grant with the head of the Palestine office of the Japan International Cooperation Agency (JICA), Toshya Abe.

"Living conditions" in Gaza are "clearly deteriorating" due to the ongoing Israeli siege which is entering its 15 year, Anadolu reported Acting Director of UN Refugee and Works Agency (UNRWA) in Gaza, Sam Rose, saying yesterday.

Gaza's Pepsi bottling company was forced to halt operations this week due to Israeli import restrictions that were tightened during an 11-day conflict between the Zionist regime and Palestinian militants last month, the company's owners say.

A Palestinian general strike, supported by the Palestinian trade unions, was observed across the Occupied Territory of Palestine. Palestinian workers organisations called out to trade unions around the world to refuse to handle Israeli goods. Workers in Genoa, Italy, Durban in South Africa and Oakland in the U.S. answered the call.

Malaysia has pledged to contribute more than $1 million to Palestine as part of a humanitarian effort to rebuild Gaza which suffered devastating destruction following the Israeli aggression in May 2021.

Chilean lawmakers say bill seeks to prevent products, services from Zionist settlers in occupied lands from reaching Chile.

Muhammad Abu Jayyab, a Gaza-based economist, estimated that economic losses from the 11-day bombing campaign amounted to $350 million.

The Karm Abu Salem (Kerem Shalom) crossing, which is the economic lifeline of Gaza, has now been closed for 33 days, reducing the work of the main power plant, and aggravating the fuel crisis in the enclave.

The Chairman of the Board of Directors of the Palestine Development and Investment Company (PADICO), Bashar Masri, and the accompanying delegation checked on the factories that were completely or partially destroyed, and the solar energy project which was launched just three months ago.

The public debt amassed by the Palestinian Authority (PA) has jumped by 26 per cent to $3.7 billion due to a combination of factors including the economic slowdown and Israel's brutal military occupation.

The United Nations launched an emergency appeal Thursday for $95 million for Gaza for the next three months to meet immediate humanitarian needs and repairs to key facilities, Associated Press reported.

The Zionist regime’s Manufacturers’ Association report says Israeli businesses lost 1.2 billion shekels ($368 million) during 12 days of fighting between Israel and the Palestinian resistance groups based in Gaza.

Exports in Palestine increased in March 2021 by 15 percent compared to February 2021, and by by 73 percent compared to March 2020, today said the Palestinian Central Bureau of Statistics (PCBS).

Popular Committee to End Gaza's Siege urges international community to provide help for unemployed Gaza workers

The World Bank's Board of Directors endorsed a new four-year assistance strategy for the Palestinian territories.

The Construction Cost Index (CCI) for residential buildings in the West Bank reached 109.29 points in March marking an increase of 0.66 percent compared with February 2021, the Palestinian Central Bureau of Statistics (PCBS) said.

According to an official reported issued on Tuesday by the Israeli Ministry of Finance, Israel's debt has jumped to NIS 984 ($302 billion).

US Congressional Republicans delayed $75 million in aid from being sent to Palestinians, reported the Jerusalem Post.

Israel warned the Biden administration that its decision Wednesday to restore funding to the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) would only help perpetuate the conflict.

The Palestinian Authority approved during the weekly cabinet meeting held on Monday via the video conference the general budget for the year 2021, stating that a budget deficit is projected to reach a record of one billion dollars.

The overall Producer Price Index (PPI) for Palestine increased by 1.34 percent during last February compared with January, as it reached 94.71 points in comparison with its base year 2019, said the Palestinian Central Bureau of Statistics (PCBS).

The World Bank approved a grant of $20 million to increase access to high-speed broadband services in selected Palestinian areas and enable the development of various e-government services in an effort to help the economy recover from the pandemic-induced shocks.

The overall Consumer Price Index (CPI) for Palestine during February 2021 increased by 0.33 percent compared with January 2021, the Palestinian Central Bureau of Statistics (PCBS) said.

World Bank approves $25 million grant to support municipal response to COVID-19 in Palestinian territories.

The overall Producer Price Index (PPI) for Palestine reached 93.45 in January 2021 (base year = 2019), as it decreased by 1.51 percent compared to December 2020, today said the Palestinian Central Bureau of Statistics (PCBS).

Palestinian Authority’s Prime Minister Muhammad Shtayyeh valued Qatar’s pledge to provide $60 million to extend gas pipelines inside Israel to reach the Gaza Strip, and the European Union (EU) to provide €20 million for the extension of the pipelines inside the Gaza Strip.

The High Representative of the European Union for Foreign Affairs and Security Policy/Vice-President of the European Commission, Josep Borrell co-hosted a meeting of the Ad Hoc Liaison Committee (AHLC) on Tuesday, chaired by Norway and held by videoconference.

Palestinian agricultural areas suffered $1.5 million in damages as a result of Israel's decision to open rainwater floodgates, Anadolu reported.

Egyptian and Palestinian officials reaffirmed the importance of strengthening Egyptian-Palestinian cooperation in the sector of energy and natural resources, particularly natural gas.

A newly published United Nations report has described the year 2020 as a year of setbacks for the Palestinians, their institutions, and their economy owing to the COVID-19 pandemic and an unprecedented fiscal crisis.

This donation is an extension for the generous donations of the state of Qatar aimed to ease the siege imposed on Gaza

Palestine's exports increased by 18 percent in November 2020 compared to the previous month. It also increased by 24 percent compared to November 2019 and reached $117.1 million, said the Palestinian Central Bureau of Statistics (PCBS) in a press release today.

The main problem facing Israel’s labor market is that there are 600,000 job seekers but only 50,000 available jobs, a team of Israel’s top economic experts warned this week.

India has increased its annual financial contribution to UNRWA from $1.25 million in 2017 to $5 million in 2018, 2019 and 2020.

Latet annual report finds estimated 850,000 families in Israel lack essential housing, education, healthcare and food.