Bank of Israel Governor Amir Yaron urged government leaders and lawmakers to maintain responsible fiscal policies during the war with Palestinian militant group Hamas, as Prime Minister Benjamin Netanyahu promised to boost defense spending, Reuters reported. Speaking on Sunday at an inauguration for his second five-year term as central bank chief, Yaron said that Israel needs to adapt its economic policy to the war since investors, ratings agencies, financial markets and the public "are currently keeping a close eye on policy in Israel".

Israel's jobless rate surged to near 10% in October, the Central Bureau of Statistics said on Monday, after the outbreak of war with Palestinian Hamas militants led to tens of thousands of displaced citizens who had lived near the Gaza border, Reuters reported. The main unemployment rate held steady at 3.4% last month. But when taking into account what is expected to be a temporary loss of work, the rate reached 9.6% in October as 428,400 people were jobless versus 163,600 in September, prior to the Oct. 7 attack when Hamas gunmen rampaged though Israeli border towns.

Vesttoo Ltd. creditors are seeking to take control of the bankrupt Israeli startup’s court proceedings, arguing the company should liquidate following revelations that its former executives helped create fraudulent documents that supported transactions on its platform, Bloomberg News reported. A committee of Vesttoo creditors said that the company is “viewed as the Madoff of insurance” and that its remaining cash should be preserved so it can pursue potential litigation against former corporate insiders and other parties involved in the alleged fraud, according to a court filing on Sunday.

The Bank of Israel kept short-term borrowing rates unchanged for a third straight decision as expected on Monday, citing the need to prevent an uptick in inflation as a result of a weaker shekel during Israel's war against Palestinian Islamist group Hamas, Reuters reported. The central bank held its benchmark rate at 4.75% - its highest level since late 2006. It had raised rates 10 straight times in an aggressive tightening cycle that has taken the rate from 0.1% last April before pausing in July and again in August.

The Bank of Israel underscored the urgency of steadying the shekel following its slide to an eight-year low, reversing expectations among traders who bet on a big interest-rate cut as soon as next week, Bloomberg News reported. Israel’s wartime monetary policy is taking clearer shape 10 days into a crisis that started with the deadly Hamas assault on Israel. Concerns over the impact of a prolonged war on the $520 billion economy initially fueled wagers on easing.

Cryptocurrency issuer Tether has frozen 32 crypto wallet addresses containing a combined $873,118 it said were linked to "terrorism and warfare" in Israel and Ukraine, the company said on Monday, Reuters reported. Israeli police said last week they had frozen crypto accounts used to solicit donations for Hamas on social media. Hamas' Oct. 7 attack on Israel killed 1,300 people. Tether's first Israel-related freeze was on March 16, 2023, while the first Ukrainian-related freeze was on June 16, 2021, a Tether spokesperson told Reuters via email. TRM Labs, a major U.S.

Palestinian militant group Hamas uses a global financing network to funnel support from charities and friendly nations, passing cash through Gaza tunnels or using cryptocurrencies to bypass international sanctions, according to experts and officials, Reuters reported. However, Hamas, which governs the Gaza Strip, will face even more obstacles accessing funds after the rampage by the group's gunmen that killed hundreds of Israelis, mainly civilians. Israel has responded with the heaviest bombardment of Gaza in 75 years of conflict.

Finance ministers from the world’s most advanced economies condemned Hamas for its attack against Israel, as war in the Middle East added to the threats facing the global economy, Bloomberg News reported. “We unequivocally condemn the recent terror attacks by Hamas on the State of Israel and express our solidarity with the Israeli people,” the Group of Seven countries said in a statement on Thursday in Marrakech, Morocco.

Israel has frozen cryptocurrency accounts used to solicit donations for the Palestinian militant group Hamas on social media, police said on Tuesday, Reuters reported. Hamas launched devastating attacks from Gaza into Israel on Saturday, in one of the most serious escalations in the Israel-Palestinian conflict in years. "According to suspicions, with the outbreak of the war, Hamas' terrorist organisation initiated a fundraising campaign on social networks, urging the public to deposit cryptocurrencies into their accounts," a police statement said.

The shekel regained its footing as the central bank dueled short sellers to contain the market fallout from Israel’s conflict with militant group Hamas, Bloomberg News reported. The currency strengthened as much as 1% in the first half hour of trading on Tuesday and was little changed against the dollar as of 4:42 p.m. local time. The nation’s benchmark stock index, which slumped 6.5% on Sunday, rose as much as 1.4%, before paring gains.