A consortium of companies led by Sweden's ViaEuropa AB has won the right to construct a high-speed fiber optic Internet network across Israel; with the network having the potential to notably upgrade the country's telecom scenario as well as to offer substantial competition to the existing phone and cable firms.

An increasing number of hedge funds managers are being attracted to Israel which is fast emerging as a tech center, despite the fact that the country faces potential threat of missile attack from Iran.

Thursday, the African National Congress (ANC), South Africa's ruling party, was supporting completely the campaign by the Boycott, Divestment and Sanctions (BDS) against Israel, as per the revelations of a recent report.

The United Nations (UN) has sent out warnings to Israel after it gave approval to building of new home in the East Jerusalem.

The Israeli committee has recently approved building of 2,610 new homes in a settlement in the occupied Palestinian territories. The UN has released a statement in which it has called on the officials of the country to cancel the plans.

On Tuesday, Internet search giant Google and the Israel Antiquities Authority together launched the Leon Levy Dead Sea Scrolls Digital Library, an online source which boasts a collection of 5,000 images of ancient biblical artifacts.

As per the predictions of Treasury, Israel's economy is going to witness a healthy rise in its economy in 2013 as well as in 2014. The Treasury predicted a rise of 3.5% in 2013 and 3.9% in 2014 in the economy of the country.

Monday saw the Tel Aviv Stock Exchange to be doing a moderate business. Experts affirmed that the exactly after 30 minutes of the market opening, the TA Composite Index was standing at 1,071.43, which was up .35%.

According to a Rough and Polished report, analysts at the Boston-based global management consulting firm Bain & Company are of the opinion that the international diamond industry has not only bucked worldwide trends but has also witnessed a notable growth in size.