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israel

Israeli markets cheer centrists’ election gains

Israeli markets rose on Wednesday on investor hopes that the outcome of the previous day\’s election means Benjamin Netanyahu will remain prime minister and ultra-Orthodox parties have no role in government.

Israel’s budget deficit soars

Israel’s budget deficit for 2012 was more than double the government target, coming in at 4.2 percent of Gross Domestic Product (GDP). In addition, debt is 74 percent of GDP, making economic growth in Israel difficult.

Cash-strapped Palestinians cut pay in half for September

The Palestinian Authority will pay only half wages this month, Prime Minister Salam Fayyad said on Tuesday, the second time in three months it has taken such a step because of a financial crisis it blames on donors failing to provide promised funds.

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