Moti Bassok

Data presented at a conference of top economic and finance officials on the local implications of the world economic crisis.

They start 2 months behind schedule.

Officials will meet to discuss the possibility of Europe's economic crisis affecting the Israeli economy.

The committee, appointed in secret by Defense Minster Ehud Barak, also recommends lowering retirement age for IDF officers to enable them to pursue a second career.

The defense minister's panel is set to officially present a report on that says defense budget has been eroded by NIS 7 billion over the past five years.

High-tech sector's output jumps 11.5% in second quarter of 2012.

CPI rose 0.1%, pointing to slowing economic growth.

Contending with temperatures of 38 to 40 degrees Celsius in the shade , cows in the northern valleys and Lower Galilee cut milk output by 25% or more, farmers say.

Treasury says defense spending will be NIS 50.5 billion in 2013, but Defense Ministry wants NIS 62 billion.

Government does not intend to get budget this year, senior officials assert.

Former finance ministry director general says nuclear Iran involves considerable economic cost to Israel, adds that war with Iran would be much more expensive than Second Lebanon War.

Treasury insists that defense spending cannot exceed NIS 50.5 billion next year, while the defense establishment is firm that it can get by with no less than NIS 62 billion.

The 2012 forecast, which now sees gross domestic product expanding 3.2%, will be revised to 2.9%.

Canceled NIS 242 million in budget cuts that would have targeted ministries controlled by the Shas, Atzmaut factions.

Barak said he asked to increase the budget deficit target a year and a half ago by 0.9% of GDP, but his view was not accepted.

The number of people who said they were working part-time because they could not find full-time work rose 5.6% to 106,000.

Flexing muscles, Knesset's Gafni postpones hearing on increase.

Agreements were thrashed out in a series of secret meetings that lasted more than a year and had many ups and downs.

Steinitz cuts Defense Ministry budget by NIS 100 million after discovering that Ehud Barak would vote against the latest reforms.

Recommends that the tax be no less than 7.5% and suggests demanding companies utilizing the benefit to invest their resulting savings in Israel.

The government hopes to generate NIS 2 billion in new tax revenue next year thanks to this initiative.

The treasury says the cuts in the regular budgets are necessary to free up funds to cover new expenses.

As Knesset readies to vote on tax hikes and across-the-board budget cuts, Yitzhak Aharonovitch warns against move.

VAT hike would take effect Wednesday; income tax rise would wait until 2013.

Netanyahu seeks to ease concerns a day after Steinitz announced government was raising taxes on cigarettes and other tobacco products.