Cross-sector strike in Israel, disruptions expected in ports and airports
Israeli shekel has lost value against the dollar and is expected to continue to do so in the near future as confidence decreases
P.S. This is a developing story and details are likely to change
The Israeli Labour Union, the Histadrut, has announced a major nation-wide strike across several sectors including education, local municipalities, health, factories, airports, sea ports, and public transportation. The strike comes in response to PM Benjamin Netanyahu’s refusal to stop the proposed judicial overhaul.
Departure flights have already been halted from Ben Gurion Airport and local media reports claimed disruptions at seaports. The escalation follows the PM firing of the Minister of Defence due to his warning that passing the judicial reforms will endanger Israeli security. According to Israeli security services, Iran and its allies plan a war to exploit Israel's seemingly growing weakness and societal divide.
International rating agencies have warned that Israel passing of the proposed reforms will harm the investor environment and deteriorate foreign investments and devalue the Israeli Shekel.
Business implications
As protests continue to expand, major transportation and travel disruption is expected this week as the country marches into chaos. The Israeli shekel has lost value against the dollar and is expected to continue to do so in the near future as confidence decreases. Public services will experience significant disruptions.