
Israel's growth revised higher to 3.7% annualised in first quarter
In the bureau's second estimate, gross domestic product grew an annualised 3.7% in the first quarter from the prior three months, higher than an initial expectation of 3.4% and up from an upwardly revised 2.0% in the fourth quarter of 2024. Per capita GDP was 2.4%.
The data follow figures also issued on Sunday showing the annual inflation rate easing to 3.1% in May from 3.6% in April.
In the first quarter, the economy benefited from higher exports, investment and public spending, offset partially by lower consumer spending.
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Daily Mail
12 minutes ago
- Daily Mail
Leonardo DiCaprio comes under fierce fire for investing in luxury hotel in Israel
Leonardo DiCaprio has come under fierce fire for investing in a luxury hotel in Israel after the eco-resort received final approval to begin construction. The Hollywood actor, 50, owns a reported 10 percent stake in the upscale resort, which will be built along Herzliya Marina – a high-end beachfront. The independent project, originally announced in 2018, is being developed by Israel's Hagag Group alongside businessmen Ahikam and Lior Cohen, per Complex. The Tel Aviv District Planning and Building Committee granted final approval on July 27 after the project was first announced in 2018 and received preliminary deposit approval in 2024. The massive $270 million complex will span a staggering 12.6 acres, far beyond the initial 2.5 acres, and will rise up to 14 stories high, per Globes. It is set to include 365 hotel rooms, conference center, fine dining restaurant, swimming pool, and direct yacht access to the marina. An additional two acres of underground space has been approved for parking and hotel operations. Despite the scale, developers insist the hotel will be built with sustainability at its core. Leo, who has spent years promoting environmental awareness, has aligned the project with the U.S. Green Building Council's LEED standards. This means it will implement sustainable practices across energy efficiency, water conservation, site selection, materials use, and indoor environmental quality. He promised an eco-friendly build that will 'work in partnership with nature,' per a 2018 statement by the actor, according to JFeed. No official construction date has been released yet, but plans suggest the resort will become a major luxury destination. The project initially got underway almost seven years ago, before the war between Israel and Hamas broke out in Gaza in October 2023. The conflict is ongoing and has since escalated into a regional crisis, with mounting casualties, humanitarian catastrophe, and rising tensions. Many fans of the actor found the hotel 'tone deaf' given the current state of Israel. 'Yikes. Not a great look. Won't be watching anything of his from now on,' a user wrote on a Reddit post. Despite the project beginning almost seven years ago, many fans of the actor found the hotel 'tone deaf' given the current state of Israel Despite the criticism, a few people expressed their excitement at the hotel's announcement Others simply branded it as 'gross' and 'disgusting.' Someone else commented a picture of a trash can lid, writing, 'Dropped your crown, Eco King.' 'So the environmental activism was just an act, should've known. If he has to build a luxury hotel, why there??' a person asked. 'I just don't see why people constantly fawn over this dude… he clearly doesn't care about the environment,' another slammed. On a second thread about the hotel, someone wrote: 'Wow. I was never a huge fan of him, but yikes.' Other comments read, 'Yikes, my guy,' 'What is with celebs being so openly gross?' and 'Eco-friendly? With a nation that is starving children? This is a choice.' Someone else wrote: 'That's insane. Leo covered his face when walking with Jeff Bezos and his wife, but he has no shame in continuing his plans to build a luxury hotel in a country that is currently committing an ethnic cleansing on their neighbors.' However, there were some who expressed their excitement at the hotel's announcement. 'Can't wait,' someone wrote on X (formerly Twitter). 'Amaaazing,' another shared. Others appeared to toast to the decision using an iconic gif of Leo in his Great Gatsby role. Leo has been a passionate advocate for the environment for years, speaking out about everything from climate change to wildlife protection. Through his foundation, Re:wild, he's donated over $200 million to environmental causes around the world.


Reuters
15 minutes ago
- Reuters
BOJ to be cautiously upbeat, keep rates steady as trade gloom lifts
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Reuters
an hour ago
- Reuters
Oil shipments from Brazil to US to resume after tariff exemption, says lobby group
RIO DE JANEIRO, July 30 (Reuters) - Energy companies operating in Brazil are expected to resume oil shipments to the United States after several oil products were exempted from U.S. tariffs, the head of Brazilian oil lobby group IBP told Reuters on Wednesday. Oil is Brazil's top export to the U.S. and was exempt from the 10% April tariff imposed on Brazilian exports, but uncertainty over whether the commodity would be exempt under new tariffs announced on July 9 led to a halt in shipments for most of the month. However, while President Donald Trump's decree on Wednesday hiked tariffs against Brazil to 50%, it excluded several major Brazilian exports from the measures, which included orange juice, some aircraft, pulp and energy products. "We are out of the tariff," said Roberto Ardenghy, president of IBP. IBP represents oil companies operating in Brazil including Petrobras ( opens new tab, Shell (SHEL.L), opens new tab, TotalEnergies ( opens new tab, ExxonMobil (XOM.N), opens new tab and Equinor ( opens new tab. Due to earlier uncertainty over the tariffs, instead of shipping their product to the United States, companies were storing oil on floating production vessels or on cargo ships, Ardenghy said. Because it takes around 21 days for a shipment to reach the U.S. from Brazil, oil shipments were stopped once it became impossible to reach their destination before August 1, he said. In 2024, Brazil exported a total of 1.78 million barrels per day, of which 243,000 bpd went to the U.S., according to government data compiled by consultancy group StoneX. If no exemption for oil had been forthcoming, Brazil would have redirected shipments to Europe and India, Ardenghy said. Magda Chambriard, CEO of Petrobras, Brazil's state-run oil firm, had also said the company would not be majorly affected and could redirect flows to other regions. "Placing tariffs on our products is a lose-lose game," said Ardenghy.