More Israeli companies than ever appear on the new Forbes list of top 2000 global companies. While last year Israel boasted 10 names, this year, 13 firms made the cut. Not bad in a period of economic slowdown.

According to Globes, the new companies on the list are: “Four new companies made the list - Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ), Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY), Check Point Software Technologies Ltd. (Nasdaq: CHKP), and Gazit-Globe Ltd. (TASE: GLOB) - while Oil Refineries Ltd. (TASE:ORL) was relegated off it.”

Congrats to all, and keep up the good work.

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The January CPI came in with a drop of 0.1%.  This marked the 4th straight month of CPI drops. Nonetheless Inflation for the last 12 months came in at 3.4%. While fuel and fruit prices rose by more than 5.6%, clothing and other more basic necessities dropped by more than 9%.

According to Globes: “The Consumer Price Index (CPI) fell 0.1% in January. According to figures released by the Central Bureau of Statistics the fall in the CPI was due to lower prices for clothing and footwear, which were down 10% and 9%, while the price of tomatoes fell by 21%. This was the fourth consecutive month that the CPI has fallen. The fall was within the 0.2% to minus 0.2% range predicted by analysts.”

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While overall car sales in Israel have plummeted, the wealthy still have a healthy appetite for hi-end, expensive cars.

Sales of Porsche continued to climb in 2008, despite the worsening economic situation.

According to Globes: “Porsches had the highest ratio of private imports to dealer sales in 2008. More than 90 Porsches were imported privately last year, while just 30 were imported by the licensed dealer, and included in motor vehicle reports. Car industry sources note that some of the imported Porsches were collector items decades old. Most, however, were models less than two years old, including the 911, Boxster, and Cayenne. Ministry of Transport figures also show that 190 Volkswagen Touareg SUVs were personally imported in 2008, while the licensed dealer imported 194 units. Most of the cars brought in by personal imports were purchased in the US, and their aggregate value after taxes is NIS 75 million. Personal imports from the US of European model cars, including the Touareg, essentially halted in mid-2008. However, deliveries continue directly from Europe, because of the weak euro. 30 Hummers were also personally imported in 2008, compared with 56 imports by the authorized dealer.”

It appears that the wealthy can weather the slow economic situation, and continue to enjoy their lifestyle.

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Economic slowdown? What Economic slowdown? The results are in and the Israeli election day, which is a banking holiday, showed a surge in retail sales. Maybe we can now understand the strong Israeli growth rates over the last 5 years, as the country keeps on holding elections and consumers spend spend spend. Apparently, even in a tight economy, consumers still want to open up their pocketbooks.

According to a Ynet report: “Some overcrowded malls were forced to close their gates as early as 11 am and bar any additional shoppers from entering. The stormy weather did not deter Israelis from visiting open malls as well. Big Shopping Centers reported proceeds in coffee shops and restaurants 200%-400% higher than on weekdays. Do It Yourself stores and pharmacies said sales increased by a twofold and revenues in fashion chains were two to three times higher.”

For a country with no Sunday, and outside of religious holidays, only one national holiday a year ( Independence day) Israeli’s showed their thirst for getting out on a day off to shop, sit at a cafe..etc.. basically what we would call leisure.

Maybe this can spur legislation to make Sunday a day off as well, and get Israel coordinated with the global economy?

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