Workers from China are not allowed to enter the country for fear of contracting the corona epidemic • Extension approved to prevent damage to real estate and infrastructure projects • Infinity CEO estimates: "Bonds will not be damaged" • Oil barrel price: $ 50

• Approved continued stay // Photo: Moshe Shay

Workers from China are not allowed to enter the country for fear of contracting the corona epidemic, so the government yesterday decided, on the recommendation of construction and housing minister Yifat Shaasha Bitton, that the residence permit of 1,700 veteran Chinese workers be dated.

Last December, the Ministry of Construction and Housing made professional drafts and selected 1,000 of 2,000 foreign workers for the building, according to an agreement signed between the states. Workers passed the tests in China by professional officials from Israel and were expected to start arriving in Israel today to replace the old building workers.

According to the opinion of professionals in the Ministry of Construction and Housing, terminating the work of all 1,700 veteran foreign construction workers prior to the arrival of new employees could adversely affect the progress of important residential construction and residential infrastructure projects currently underway. This is partly due to the fact that the total maximum number of foreign construction workers for employment with building contractors in Israel through the building corporations is up to 15,300 employees.

According to the decision, the working period of veteran construction workers is extended, as stipulated, for a little more than four months - by the end of June. According to Shashbitton, "To prevent injury and delays in the construction industry, the government is extending the employment of veteran construction workers from China who are in the country. This is necessary to ensure that even in exceptional situations such as the situation, construction momentum in Israel will not be harmed in favor of apartment buyers."

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Benny Dreyfus, Director General of the Ministry of Construction and Housing: "It is our duty as the Ministry of Trust for the construction industry in Israel to operate in any scenario and to ensure the proper continuation of construction and infrastructure projects in Israel. Also, in order to meet the construction industry's requirements for working hands, another 500 workers from Moldova and 500 workers from Ukraine are expected to arrive. "

The decline in indices will moderate

Infinity CEO Amir Eyal told Israel Today that futures indicate a continuing downward trend in US and Asian stock exchanges. He says there is logic in reducing stock exposure. "The bonds will not be damaged, but there is uncertainty about the extent of the harm to companies that may not have been exhausted. The Chinese are disrupting vast areas 2,000 km from Wahan, the capital of Hubei Province." The 2003 SARS epidemic was not actively addressed This epidemic will also end when the spring heat wave causes the virus to be destroyed.

Following the Corona virus: Ministry of Health has issued new guidelines for travelers to China // Credit: Ministry of Health

The Corona epidemic has hit the stock exchanges in the midst of an uptrend, so increases in indices - for example, the S & P500's rise of 2.5% over the past month - are down. If it were not for the epidemic, double and possibly triple rises would have been recorded in the gates. But, as mentioned, the trend indicates a continued decline in the decline and possibly a change in trend.

Eyal said: "In the meantime, the impact of the corona eruption on world oil and gas prices is declining. The downturn in activity is projecting a slowdown in energy demand, especially from the big consumer - China. Oil futures have dropped to around $ 50 in Europe and are expected to continue declining $ 65 just a month ago. "

Meanwhile, the shekel continues to strengthen against most currencies in the world. According to Eyal, "The fact that Israel is becoming an energy superpower, Israel's strengthening of high technology and economic stability here continues to support the shekel as an attractive currency."

In the past month, the shekel strengthened by 4 additional pennies against the dollar to NIS 3.42, and by 8 pennies against the euro to NIS 3.76. In contrast to the pound, the shekel strengthened by 9 pence to 4.43 penny. According to Eyal, "Israeli technology companies operating in the world eventually have to pay salaries in Israel and contribute to demand in turn."