GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
Intel Corporation, a leading global chipmaker, is charting a new course for semiconductor manufacturing by investing $25 billion in a production plant in Israel. Prime Minister Benjamin Netanyahu announced the landmark deal, the largest Israel has ever received from an international private company. The factory, expected to be operational by 2027, signals Intel's commitment to strengthening the global chip supply and supporting the Israeli tech sector.
According to Reuters, Netanyahu praised the investment and said this is the largest deal that the country has ever received from an international private company. Intel’s new chip production plant is located in Kiryat Gat, and the target date for its completion is some time in 2027. It is expected to be in full operation until 2035.
Israel is also looking forward to the new jobs that the Intel factory will open to the locals. The country’s Finance Ministry said that thousands of citizens may find employment at the site.
Under the agreement between Intel and the officials of Israel, the tech firm will pay a 7.5% tax rate which is up by 2.5% from the current five percent. It was also noted that Intel’s operations in the territory have grown throughout the decades and even become Israel’s largest privately held employer and exporter today.
“Israel is a global center of technical talent and innovation and one of Intel’s significant global manufacturing and R&D centers,” The Times of Israel quoted Intel as saying in a statement. “Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs and supporting Intel’s IDM 2.0 strategy, and we appreciate the continued support of the Israeli government.”
On the other hand, Prime Minister Benjamin Netanyahu also said, “This is the largest investment ever in the State of Israel. This is an expression of great confidence in the Israeli economy and exactly reflects the strength of the free economy that we have built here and the technological economy that we are developing here.”
Photo by: Christian Wiediger/Unsplash
