Business Forum heads warn Likud MKs on huge economic harm

As the government's planned judicial overhaul moves quickly through the Knesset, last night leaders of the Business Forum met with Likud MKs.

As the government's planned judicial overhaul moves quickly through the Knesset, last night leaders of the Business Forum met with Likud MKs to warn them of the huge economic damage that the reforms would bring. Business Forum coordinator FOX owner Harel Wizel and the other businesspeople met with Likud MKs David Bitan, Hanoch Milwidsky, Eli Dallal and Shalom Danino. Among the business leaders at last night's meeting were Ishay Davidi, Natan Hetz, Lior Raviv, Liora Ofer, Leon Koffler, Adi Soffer Teeni, Gil Agmon, Ido Neuberger, Hay Galis and Zvi Schwimmer.

The Israel Business Forum encompasses 40 heads of banks and large companies in the country including Bank Hapoalim CEO Dov Kotler, Israel Discount Bank CEOP Uri Levin, Mizrahi Tefahot Bank CEO Moshe Lari, Shufersal chairman Itzik Abercohen, Azrieli Group CEO Eyal Henkin, SuperPharm chairman Leon Koffler, FIMI Opportunity Funds founder Ishay Davidi and Melisron chair Liora Ofer.

"Mass layoffs and high unemployment"

In recent weeks, representatives of the forum have met the President, the Minister of Finance, the Minister of Economy, the Minister of Education, the leaders of the opposition Yair Lapid and Benny Gantz and more. In a meeting with President Isaac Herzog a week ago, the heads of the forum said: "The legal reform will result in serious damage to economic stability, which will result in mass layoffs and the unemployment of many thousands of workers in all sectors."

In a letter distributed last week the forum wrote: "We grew up with and were educated according to the fundamental ideas and principles of the Declaration of Independence of the State of Israel and of the independence of the system of justice in the State of Israel. In all our businesses in industry and trade, real estate, hotels, banking and finance, men and women, secular and religious people, Arabs and Jews, people of the right, center and left, the entire political spectrum, work together in full harmony and with mutual respect.

"As business people and as managers of over 500,000 employees in the Israeli economy we are scrupulous about full equality of rights and respectful discourse in our companies, and wish to bring to the attention of the public that in talks we have held in the past few weeks and days with the president of the state and with members of Knesset from the coalition and the opposition, we made them aware of our economic assessment and the heavy fear of economic deterioration in the country as a result of continuation of the advancement of the legal reform in the form and the way that this has been done up to now."

Published by Globes, Israel business news - en.globes.co.il - on March 19, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Shekel versus US dollar  credit: Tali Bogdanovsky US market slide shakes shekel

The shekel weakened significantly against both the US dollar and the euro at the opening of foreign exchange trading today.

Arik Faingold credit: Nati Levi Israeli autonomous frontend co AutonomyAI raises $4m

Led by Arik Faingold, the founder of cybersecurity unicorn Pentera, AutonomyAI offers a platform that learns and understands the full organizational context and generates code that can be deployed directly to the production environment.

British Airways aircraft  credit: Shutterstock/Jarek Kilian Tel Aviv - London fares to fall as British Airways resumes flights

From June there will be 20-32 weekly flights operated on the popular Tel Aviv - London route by foreign airlines - British Airways, Wizz Air and easyJet.

Partner Partner forms int'l business diivision

The division will be headed by former Bezeq International VP Global Business Nissan Arieh.

Caesarstone kitchen credit: Caesarstone Caesarstone bucks Nasdaq as tariffs boost potential

The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.

ZIM ship credit: ZIM Trump's tariffs torpedo ZIM's share price

ZIM's share price fell 16.4% on Wall Street on Thursday and a further 7.2% on Friday, closing with a market cap of $1.5 billion, wiping out all its gains in 2025.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Holon, Rehovot, Kiryat Tivon, Shlomi and Beersheva.

THAAD anti missile system credit: The US Army Ralph Scott Wikimedia US deploys more THAAD, Patriot batteries in Israel - report

Amid rising regional tensions the US is bolstering Israel's air defense, Saudi state-owned TV channel Al Arabiya reports.

Tel Aviv Stock Exchange credit: Shutterstock TASE tumbles in Wall Street's wake

Dual-listed stocks have again been hard hit, but the banks are also down sharply.

Donald Trump and Benjamin Netanyahu credit: Avi Ohayon Netanyahu due in Washington to discuss tariffs

According to news website Axios, Prime Minister Benjamin Netanyahu will be the first leader to meet President Trump after the latter's announcement of sweeping import tariffs.

Yoni Assia CEO eToro Credit: PR eToro defers IPO amid market turmoil

The online trading platform had planned to begin meetings with investors this week.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018