US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Bernstein Picks BYD and Xiaomi as Top China EV Stocks Despite Weaker Demand 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
SpaceX Shares Surge as Wall Street Backs AI Growth Potential 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Aviva First-Half Operating Profit Jumps 24% as Direct Line Deal Boosts Growth 
Add as a preferred source on Google
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
