Israeli tech entrepreneur Moshe Yanai denied insolvency claims on Sunday, asserting that he holds significant assets through his investment firm, MII, YNetNews.com reported. According to a U.S. court ruling, MII’s portfolio is valued at approximately $1.1 billion — or several hundred million dollars at a minimum. Tech mogul Moshe Yanai denies insolvency, cites $1.1B MII portfolio in Tel Aviv court battle. Yanai made the argument in a request to halt legal proceedings, filed Sunday with the Tel Aviv Magistrate’s Court, in response to a bankruptcy petition by the investment fund Scintilla.

Israel's banking regulator on Wednesday asked commercial banks to allocate up to 3 billion shekels ($841 million) through 2026 to fund relief for retail customers and to improve interest terms offered to clients hurt by the 16-month old war, Reuters reported.

Israel’s central bank left interest rates unchanged as it weighs a war-related economic slowdown and quickening inflation, Bloomberg News reported. The Bank of Israel held its base case rate at 4.5% on Monday, in line with the estimates of all economists surveyed by Bloomberg. It was the monetary policy committee’s seventh straight hold and last decision of the year, with the next meeting scheduled for early January.

Treasury Secretary Janet Yellen warned that the West Bank’s economy could collapse if Israel doesn’t preserve its banking relationship with Palestinian financial institutions in the territory it occupies, highlighting another potential source of instability as Israel also fights foes in Gaza, Lebanon and Iran, the Wall Street Journal reported. In a letter to Prime Minister Benjamin Netanyahu, Yellen and several of her global counterparts urged the Israeli leader’s government to approve a waiver that would continue to allow Palestinian and Israeli banks to correspond.

Israel’s central bank left interest rates unchanged even as it lowered economic-growth forecasts, with the conflicts in Gaza and Lebanon causing inflationary pressures and preventing the country from joining a global easing cycle, Bloomberg News reported. The bank kept its benchmark rate at 4.5% on Wednesday, in line with the estimates of all economists surveyed by Bloomberg. It was the monetary committee’s sixth straight hold.

At the end of 2022, the Selina hospitality chain went public on Wall Street through a merger with a Special Purpose Acquisition Company (SPAC) at a value of $1.2 billion. Founded and managed by Israelis Daniel Rudasevski and Rafi Museri, Selina was one of the hottest brands in the market, presenting investors with plans for a novel hospitality experience. However, its performance did not meet expectations, and within less than two years, the chain fell into insolvency, Calcalistech.com reported. By the end of August, all its assets were sold.

Israel’s central bank left interest rates unchanged, seeking to balance the impact of rising inflation against weak growth as uncertainty surrounds fiscal policy, Bloomberg News reported. The monetary committee kept its benchmark rate at 4.5% on Wednesday for a fifth straight meeting. In a statement accompanying the decision, policymakers largely repeated previous guidance, saying the focus should be on stabilizing markets, controlling price rises and supporting economic activity. Inflation has been on the rise, mostly linked to the war against Hamas.

Lusix, the synthetic diamond company founded by Benny Landa, is on the brink of filing for insolvency. The company has informed its creditors of its intention to do so, though the timing remains uncertain, YNetNews.com reported. Sources have told Calcalist that Lusix informed its shareholders last week that it urgently needs to raise $15 million to continue operations. Without this capital infusion, the company will likely become insolvent. Although some investors have considered providing additional funds, it is not believed that this has materialized.