MIRA
INFORM REPORT
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RATING
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STATUS
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PROPOSED CREDIT LINE
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<10
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C
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Absolute credit risk exists. Caution needed to be exercised
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Credit not
recommended
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Status :
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No Trace
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Payment Behaviour :
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--
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Litigation :
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--
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NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
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Country Name
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Previous Rating
(31.03.2014)
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Current Rating
(01.06.2014)
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Israel
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A2
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A2
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Risk Category
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ECGC
Classification
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Insignificant
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A1
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Low
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A2
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Moderate
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B1
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High
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B2
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Very High
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C1
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Restricted
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C2
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Off-credit
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D
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ISRAEL - ECONOMIC
OVERVIEW
Israel has a technologically advanced market economy. Cut
diamonds, high-technology equipment, and pharmaceuticals are among the leading
exports. Its major imports include crude oil, grains, raw materials, and
military equipment. Israel
usually posts sizable trade deficits, which are covered by tourism and other
service exports, as well as significant foreign investment inflows. Between
2004 and 2011, growth averaged nearly 5% per year, led by exports. The global
financial crisis of 2008-09 spurred a brief recession in Israel, but the
country entered the crisis with solid fundamentals, following years of prudent
fiscal policy and a resilient banking sector. In 2010, Israel formally
acceded to the OECD. Israel's
economy also has weathered the Arab Spring because strong trade ties outside
the Middle East have insulated the economy
from spillover effects. The economy has recovered better than most advanced,
comparably sized economies, but slowing demand domestically and internationally,
and a strong shekel, have reduced forecasts for the next decade to the 3%
level. Natural gas fields discovered off Israel's
coast since 2009 have brightened Israel's energy security outlook.
The Tamar and Leviathan fields were some of the world's largest offshore
natural gas finds this past decade. The massive Leviathan field is not due to
come online until 2018, but production from Tamar provided a one percentage
point boost to Israel's GDP in 2013 and is expected to contribute 0.5% growth
in 2014. In mid-2011, public protests arose around income inequality and rising
housing and commodity prices. Israel's
income inequality and poverty rates are among the highest of OECD countries and
there is a broad perception among the public that a small number of "tycoons"
have a cartel-like grip over the major parts of the economy. The government
formed committees to address some of the grievances but has maintained that it
will not engage in deficit spending to satisfy populist demands. In May 2013
the Israeli government, in a politically difficult process, passed an austerity
budget to reign in the deficit and restore confidence in the government's
fiscal position. Over the long term, Israel faces structural issues,
including low labor participation rates for its fastest growing social segments
- the ultra-orthodox and Arab-Israeli communities. Also, Israel's
progressive, globally competitive, knowledge-based technology sector employs
only 9% of the workforce, with the rest employed in manufacturing and services
- sectors which face downward wage pressures from global competition
Source
: CIA
Note :
We could not trace the company/ business/ person in subject.
The Address you give is ISRAEL only, yet we need further
specific details, such as town, telephone numbers, etc.
Please note that based on the name, we believe it concerns a
Palestinian business.
We did not find subject in our searches in the local and
Palestinian trade directories. It could be that there are other names subject
is using or perhaps there is a spelling mistake in the name – PLEASE CHECK.
We shall resume investigation upon receiving more details from
you.
Important Note:
Kindly provide us with additional information such as
Correct Name, Address, Contact Details, Name of Contact Person or a copy of the
Upper Part of Letterhead within 15 days of receiving this report, a would be
sent without any additional cost.
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.
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