Banking & Finance

President Vladimir Putin is keen to build up BRICS - which has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates as well as Brazil, Russia, India, China and South Africa.

The economy was supported by gains in consumer and state spending and in investment in fixed assets, while exports fell.

Israel's economic professionals have stressed it, Ratings agencies have said it - Israel needs a responsible budget for 2025, and it needs to show it can pass one now.

As always, consult experienced tax advisors in each country at an early stage in specific cases.

"A prolonged war on multiple fronts could weaken economic activity further and heat inflation, raising the risk of stagflation," Barclays economist said.

"Despite criticisms, Moody’s analysis of Israel's fiscal health is overly pessimistic."

Moody's ratings are intended to give investors a simple gradation system for deciding which securities will be most reliable.

Many who leave Israel or plan to do so might not be aware that emigrating from Israel for a long period carries legal and financial implications.

The outsized funding round has seen strong investor demand and could be finalized in the next two weeks, given the rapid growth of OpenAI's revenue, sources added.