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Israel's war in the Gaza Strip will cost as much as 200 billion shekels ($51 billion), the Calcalist financial newspaper reported on Sunday, citing preliminary Finance Ministry figures. The daily said the estimate, equal to 10% of gross domestic product, was premised on the war lasting between eight to 12 months; on it being limited to Gaza, without full participation by Lebanon's Hezbollah, Iran, or Yemen; and on some 350,000 Israelis drafted as military reservists returning to work soon.

(Bloomberg) -- From small restaurants to high-tech companies and a major gas field run by Chevron Corp., Israeli businesses are being convulsed by the war against Hamas.Most Read from BloombergIsrael Latest: Biden, Netanyahu Plan to Talk Within HoursIsrael Deepens a War With Hamas That Has No End in SightHow This Israel-Hamas Conflict Is Like Nothing That’s Happened BeforeHedge Funds Pile Into Uranium Stocks Set for ‘Dramatic’ RiseRussia Closes Airport After Mob Swarms Flight From IsraelMany are

From small restaurants to high-tech companies and a major gas field run by Chevron Corp., Israeli businesses are being convulsed by the war against Hamas. Many are comparing the shutdowns that have hammered the $520 billion economy to the Covid-19 pandemic, with schools, offices and building sites emptying or opening for only a few hours

The military call-ups and partial economic freeze have triggered a sudden crash in activity and upended everything from banking to agriculture.

Stores on Yehuda Halevi Street were told a bonanza would come after 8 years of mere survival in a construction site; so far this has not materialized