In a recent development, Chevron announced on Sunday the second phase of the Tamar natural gas project in Israel, involving the natural gas reservoir located off the coast of Haifa
The present conflict between Israel and Hamas in Gaza has prompted credit rating agency to issue grim warnings. This stems from Moody s anticipation of Israel increasing its military expenditure, nearly doubling the amount spent in 2022 by the end of 2024. However, there s a risk of the conflict escalating, with the possibility of Hezbollah s involvement.
Investors can hope that Strauss Group’s bad luck will pass soon, and that coffee prices will revert to where they were in the previous decade, which would boost Strauss’s operating margin to 11%
Analysts estimate that other rating agencies will also lower Israel's rating; the rising scent from the rating downgrade is political, but it is the scent of fear of uncertainty.