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Israel's 2025 budget: Smotrich announces changes to how budget built, work to start this week

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Israel's 2025 budget: Smotrich announces changes to how budget built, work to start this week

Finance Minister Bezalel Smotrich announced Sunday a number of significant changes in how Israel’s 2025 budget will be built compared to how the country’s budgets are normally determined and said that talks on the budget would be held directly after the Shavuot holiday.

Per the minister’s instructions, presentations on the budget will be held over two focused days instead of over the course of months. From the start of the process, the governor of Israel’s central bank will participate.  

Smotrich said the budget must focus on moving the country from war to growth by emphasizing high-tech, the real estate market, integrating different populations and increasing productivity in the labor market, fighting the black market to increase the tax base, absorbing immigration, and more.

The budget’s guiding principles will be fiscal conservativeness, responsibility, efficiency, flexibility, and transparency, he said. The minister anticipated that the budget would include significant cuts to many ministries.

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How the war is impacting economic decisions 

“The continuing war and its impact on the economy force us to show discipline and fiscal responsibility, as well as full transparency about the data and the process by which policy is formed and decisions are made,” said Smotrich.

Income Tax and Property Tax Department at the Finance Ministry (credit: OLIVER FITOUSSI/FLASH90)

“I expect my friends in the government and coalition to understand how serious the situation is and help carry the stretcher. I intend to help them to do this by giving them greater authority and flexibility to manage the budgets that remain in their hands,” he added.



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Jimmy Carter’s legacy, stocks fall amid rally hopes: Morning Brief

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Jimmy Carter’s legacy, stocks fall amid rally hopes: Morning Brief

It’s the last full trading day of 2024 and Wall Street has its eyes peeled for the slightest signs of a Santa Claus rally. Seana Smith and Madison Mills observe some of the biggest market stories while speaking with top analysts on today’s episode of The Morning Brief.

Former President Jimmy Carter passed away over the weekend at the age of 100. To talk more about the US leader’s legacy and role in significant peace talks, the program welcomes American University professor Allan Lichtman and Marc Ginsberg, the former White House Deputy Senior Advisor for Middle East Policy under former President Carter.

As US stocks (^DJI, ^IXIC, ^GSPC) continue to see declines at the start of Monday’s session, the Morning Brief team looks back on the best and worst performing sectors of 2024.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

Other top trending stocks on the Yahoo Finance platform include Boeing (BA), American Airlines (AAL), Nissan (NSANY, 8291.T)

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This post was written by Luke Carberry Mogan.

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Stocks slip, Boeing stock falls after crash in South Korea: Yahoo Finance

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Stocks slip, Boeing stock falls after crash in South Korea: Yahoo Finance

The major indexes (^DJI,^GSPC, ^IXIC) are trading lower on Monday. It follows a sharp sell-off on Friday when the Nasdaq shed 1.5%. One stock on the move is Boeing (BA). Its shares are falling after South Korean officials ordered all Boeing 737-800 planes to be inspected after a Jeju Air crash killed 179 of the 181 people on board.

Key guests include:
9:10 a.m. ET – Josh Wein, Hennessy Funds Portfolio Manager
9:45 a.m. ET – Justin Patterson, KeyBanc Managing Director
10:20 a.m. ET – Gregory Kuhl, Janus Henderson Investors, Portfolio Manager, Global Real Estate
11:00 a.m. ET – Roosevelt Bowman, Bernstein Private Wealth Management Senior Investment Strategist

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SingPost Names Group Finance Chief After Whistleblower Report

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SingPost Names Group Finance Chief After Whistleblower Report

(Bloomberg) — Singapore Post Ltd. named a group chief financial officer and said the search for a chief executive continues after it fired a number of senior executives over allegations of misconduct.

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Isaac Mah, currently the CFO of the company’s Australia business, Freight Management Holdings Pty, will return home to take up the group CFO post, the Temasek Holdings Pte-backed firm said in a filing on Sunday. It also appointed Gan Heng, who currently heads the South District International Business Unit, as acting CEO of IBU.

The appointments follow the dismissal of three senior executives on disciplinary grounds, following a whistleblower’s report on lapses at its international e-commerce logistics parcel business. Singapore Post’s investigations into the report allegedly found several employees in the IBU made manual entries of some delivery status codes with the intent of avoiding contractual penalties with one of the firm’s largest customers.

Shares of the firm, which slid the most intraday since March 2020 after the dismissals last week, were trading unchanged as of 9:30 a.m. in Singapore on Monday.

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Singapore Post said the sale of its Australia business, announced earlier this month, remains on track.

The company also paid a settlement to the unidentified customer, besides renewing its contract with the customer in August.

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