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27 May 2015

Dr. Ehud Marom MS treatment developer Mapi Pharma raises $10m

Mapi Pharma is close to beginning Phase III trials for once-a-month Copaxone.

27/05/2015 17:33 Healthcare Gali Weinreb
Golan Telecom Golan Telecom TV likely to cost NIS 49 per month

Golan Telecom is aiming to change the rules for competing in the market as it did in mobile telephony.

27/05/2015 17:16 Market Gad Perez
Yitzhak Tshuva Delek Group back in the black

Yitzhak Tshuva's company sold its holdings in Delek US during the quarter, yielding the group a NIS 115 million profit.

27/05/2015 16:36 Market Globes correspondent
Ori Yogev First interest expressed in IMI privatization tender

4-5 Israeli and foreign groups are expected to express interest in acquiring Israel Military Industries.

Gay pride. Photo: PR Facebook Israel to host gay representation in ads event

The conference aims to discuss and promote the representation of the LGBT community in Israeli advertising.

Tamar Gilo departure to hasten gas monopoly compromise

Delek will sell all its holdings in Tamar within six years, Noble Energy will reduce its holdings in Tamar from 36% to 25%.

27/05/2015 14:00 Energy Amiram Barkat
Avi Zeevi Cyber security co EverCompliant raises $3.5m

The cyber risk and merchant fraud detection company will use the funds for global expansion and developing products.

27/05/2015 13:50 Start ups Globes correspondent
Eitan Sheshinski Sheshinski: Technology limits gas competition

Professor Eytan Sheshinski told Galei Zahal that natural gas prices must be to some degree in sync with global prices.

27/05/2015 12:36 Energy Globes correspondent
road 6 Bank Leumi in talks to sell Road 6 stake to Phoenix

Leumi hopes to sell the 9.7% stake in Derech Eretz at a company value of NIS 4 billion.

27/05/2015 12:06 Market Irit Avissar
shekels Shekel firm despite dollar's strength on world markets

Yossi Frank: The Bank of Israel will intervene in trading today or tomorrow because it simply has no choice.

27/05/2015 11:12 Market Kobi Yeshayahou
Israir Israir settles dispute over impounded aircraft

Israir says that EuroAtlantic is withdrawing its request to the Portuguese authorities to hold the Airbus A320.

27/05/2015 09:52 Tourism Sapir Peretz-Zilberman

26 May 2015

Gazit-Globe plans more Nordic acquisitions

Chairman Chaim Katzman told "Bloomberg" that European assets currently offer better value than US assets.

May mortgage taking jumps on tax hike concerns

Sources in the banking sector estimate that May mortgage taking might cross the NIS 5 billion threshold.

26/05/2015 18:27 Financial services Irit Avissar
Len Blavatnik back in for Channel 10

RGE Group has renewed talks with Bank Leumi to finance the acquisition, sources inform "Globes."

Moshe Kahlon recuses himself from gas issue

Kahlon told Netanyahu he will not act on gas-related matters due to his relationship with Tamar owner Koby Maimon.

26/05/2015 16:11 Energy Lilach Weissman
Pearl Cohen takes over as Israel's top patent attorneys

The 2015 "Globes" Dun's 100 patent attorney rankings show Pearl Cohen Zedek Latzer Baratz has become the country's largest firm.

26/05/2015 14:36 Economy Sapir Kalfon
David Gilo: Consumers deserve gas and competition

The outgoing antitrust commissioner said at the Israel Institute of Energy that the gas monopoly refused to produce gas if there was competition.

26/05/2015 14:01 Energy Hedy Cohen
Fischer: Israel's low interest rates cause home price rise

Speaking at the Interdisciplinary Center Herzliya, Federal Reserve vice chair Stanley Fischer pointed to low productivity growth as the world's main economic problem.

26/05/2015 12:39 Economy Amiram Barkat
GE to host cyber-security hackathon in Israel

The competition for Israeli cyber security start-ups is being held with Tel Aviv University.

26/05/2015 12:36 Start ups Idan Rabi
Greece fears send euro tumbling

Against the shekel, the euro weakened by more than 2% this morning.

26/05/2015 11:06 Market Globes correspondent
Israir plane seized in Portugal

The Israir Airbus A320 was seized over an alleged unpaid debt. Israir's schedule has been disrupted.

26/05/2015 10:20 Tourism Globes correspondent

25 May 2015

Mati Kochavi's Logic to shut down with 270 layoffs

AGT Group's Logic Industries is completing its last project for a Persian Gulf country, its main customer.

25/05/2015 18:50 Employment Globes correspondent
Delek to grant Fosun discount in Phoenix sale

A source involved in the negotiations said it looks like there will be about a 5% discount for Chinese company Fosun.

25/05/2015 18:45 Financial services Ron Stein
Agrexco liquidators sue State of Israel

The liquidators allege that the state behaved "like the lowest of thieves" in the bankruptcy of Agrexco Agricultural Export Co. Ltd.

Gazit-Globe buys Norwegian co for 1.5b

The acquisition of Sektor Gruppen will make Gazit-Globe's Citycon subsidiary the third largest public real estate company in Europe.

25/05/2015 17:37 Real estate Uri Shuster
Bank of Israel leaves June interest rate unchanged

The Bank of Israel has left the rate unchanged at an historic low of 0.1% for the third consecutive month.

25/05/2015 16:30 Economy Globes correspondent
El Al in talks to merge Sun D'Or with Israir

In any deal, Sun D'Or will be transferred to Israir, and El Al will receive a number of Israir shares in exchange.

25/05/2015 16:29 Tourism Omri Cohen
Dore Gold appointed Foreign Ministry chief

Prime Minister Benjamin Netanyahu has appointed the former Israel ambassador to the UN to replace Nissim Ben-Shitreet.

25/05/2015 16:03 Politics Lilach Weissman
Israel Chemicals to sell PCG business

Israel Chemicals is selling its pharmaceutical, cosmetics, and gypsum business to One Rock Capital Partners for an estimated $50 million.

Unemployment hits historic low: 4.9%

Participation in the labor force rose from 60.2% in March to 60.9% in April.

25/05/2015 14:17 Economy Globes correspondent
Antitrust commissioner David Gilo resigns

Gilo: The emerging natural gas industry structure will not lead to competition.

25/05/2015 13:48 Politics Hedy Cohen
Kahlon, Nissenkorn "see eye to eye" on contract workers

Histadrut chairman Avi Nissenkorn says Finance Minister Moshe Kahlon agrees to end contract working inpublic services.

25/05/2015 12:57 Economy Globes correspondent
Estate tax may be shelved

Treasury officials say the cost of administering the tax makes it not worthwhile.

25/05/2015 11:34 Economy Globes correspondent
Shekel-dollar rate rises as rate decision awaited

Most analysts expect the Bankof Israel to leave its interest rate unchanged today.

25/05/2015 10:42 Market Hillel Koren
Olmert sentenced to 8 months jail in Talanksy affair

Former prime minister Ehud Olmert was also fined NIS 100,000. He intends to appeal against the conviction.

21 May 2015

Egypt okays Tamar gas imports - report

The natural gas will be sent through the existing Egypt-Israel gas pipeline, "Reuters" reports.

21/05/2015 18:59 Politics Hedy Cohen
Veteran mobile co profits shrink 90% in 4 years

Competition from the new companies has slashed prices.

Court petitions on Amdocs unionization interference

The Histadrut alleges that the independent committee established at Amdocs is a management tool.

21/05/2015 17:53 Employment Yossi Nissan
Zim swings to profit

Zim was boosted by a steep fall in fuel, financing, and cargo handling costs.

Ernst & Young Israel unionizing

Junior accountant: Our partner, who is receiving the profits, hosted us in his luxurious home with his swimming pool.

21/05/2015 15:57 Employment Ella Levy-Weinrib
Glilot Capital Partners raises $77m Israel start-up fund

The fund will specialize in investing in seed and early-stage start-ups in enterprise software, cyber and IT security, SaaS and IoT.

21/05/2015 15:49 Start ups Globes correspondent
43 bids received for new Israel Railways projects

Israel Railways is planning NIS 30 billion in development projects in the next five years.

Milchan and Shiloah spar over Channel 10

Shiloah accepted Milchan's proffered partnership, after rejecting it yesterday.

"No reason Apple, Google shouldnt list on TASE"

Fahn Kanne Grant Thornton Israel partner Nir Yenni said the TASE can list Fortune 500 companies shares without their approval.

21/05/2015 14:34 Market Globes correspondent
Text to video co Wibbitz raises $8m

The company will use the funds to expand its US presence.

21/05/2015 14:02 Start ups Roy Goldenberg
Bezeq reports higher profit on lower revenue

The company attributed the fall in revenue to the performance of its mobile phone unit Pelephone.

21/05/2015 12:10 Market Yossi Nissan
Alstom, Bombardier threaten to sue Israel Railways

Alstom and Bombardier say the two Chinese companies in the electrification tender have merged, and must be barred from competing.

"It soon won't be possible to hold unreported accounts"

Israel Tax Authority deputy head of investigations Ronny Hacham said Israelis would have nowhere to hide.

Obama approves $1.9b Israel arms package

The package includes missiles and bombs to replace ammunition used in Operation Protective Edge.

20 May 2015

Report: Eilat Ashkelon Pipeline Co to pay Iran $1.1b

Iran's news agency IRNA reports the Swiss arbitrator has ruled that the Israeli company must pay Iran $1.1 billion compensation

20/05/2015 17:46 Politics Hedy Cohen
Israelis buy 787,630 smartphones in Q1, up 20%.

Apple led with a 32% market share while Samsung followed closely behind at 31%.

Mobile live streaming co FlyOnWall raises $3m

FlyOnWall lets users stream live video from their mobile devices and share it anytime, anywhere.

20/05/2015 17:31 Start ups Globes correspondent
Channel 10 challenges Netanyahu in High Court

Benjamin Netanyahu signed a demand for NIS 16.8 million on his last day as Minister of Finance.

Medical device co OrthoSpace raises $8m

OrthoSpace is developing a minimally-invasive medical device for the treatment of rotator-cuff tears.

20/05/2015 16:45 Healthcare Gali Weinreb
Cloud based IT co Samanage raises $16m

The cloud integrated enterprise service desk software developer will use the new funds to accelerate its growth rate and expansion.

1,500-home neighborhood approved for Tel Aviv

The plan in south Tel Aviv also includes 130,000 sq.m. for industry and 25,000 sq.m. for commerce.

20/05/2015 15:13 Real estate Udi Shayshon
Noble Energy to halt Tamar gas to repair pipe leak

The flow of gas will be halted for twelve hours on Saturday while a leak in the Ashdod gas terminal is repaired.

20/05/2015 14:45 Energy Hedy Cohen
Partner profit plunges 52%

CEO Haim Romano has stepped down and been replaced by deputy CEO Isaac Benbenisti.

20/05/2015 14:12 Market Globes' correspondent
Israel Discount Bank profit soars 84%

A voluntary retirement program has cut salary expenses at the bank.

Discount Investment board ousts Ben-Moshe

Ben-Moshe told the Discount Investment board that he was ready and willing to inject NIS 575 million into the company.

20/05/2015 12:57 Market Omri Cohen
El Al narrows loss in Q1

The Israeli carrier saw revenue rise 1.1% as net loss more than halved from $39.65 million to $15.99 million.

20/05/2015 11:51 Tourism Globes correspondent
Netanyahu torpedoes sale of Israel's Channel 10

Len Blavatnik has backed out and Ilan Shiloah is reconsidering after Benjamin Netanyahu raised the price for Channel 10's license.

Shekel depreciation against dollar accelerates

FXCM Israel: The turmoil in the European bond market could mark the end of the dollar correction.

20/05/2015 10:28 Market Globes correspondent
Bank Hapoalim Q1 profit up 11.3%

The bank will distribute a dividend of NIS 162 million, 20% of its net profit in the first quarter of 2015.

Triventures raises $70m Israel biomed fund

The fund will invest half the amount in medical devices and half in digital health.

20/05/2015 09:47 Healthcare Gali Weinreb

19 May 2015

Shavit Capital raises $75m Israel start-up fund

The new fund, raised within a few weeks, will invest at least 50% of its money in biomed.

19/05/2015 18:41 Market Gali Weinreb
Sheshinski: Breaking up gas monopoly won't lower prices

Energy Minister Yuval Steinitz's new advisor also opposes price controls, saying the current price is reasonable.

19/05/2015 17:45 Energy Hedy Cohen
Plus500 plunges on money laundering fears

Over half the accounts of UK customers of the Israeli contract for difference company have been suspended.

19/05/2015 17:32 Market Tali Tsipori
Arison, Chinese co win TA light rail underground tender

The NIS 2.9 billion tender includes 10 kilometers of tunnels and seven underground stations.

Schneider to build Timna Airport electric infrastructure

The total cost of building the airport near Eilat is estimated at NIS 1.7 billion.

Online stock trading co Stox raises $8m

The funds will be used to develop the firms proprietary real equity trading platform.

19/05/2015 16:00 Start ups Roy Goldenberg
Talks to end Israel Chemicals strike break down

Israel Chemicals and the Histadrut are accusing each other of going back on what has already been agreed.

19/05/2015 16:00 Employment Stella Korin-Lieber
Warren Buffett invests in Israeli co eVolution Networks

The Ramat Gan based energy savings solution company has raised $22.5 million from Berkshire Hathaway and GE Ventures.

19/05/2015 15:26 Start ups Tzahi Hoffman
Cabinet approves moving housing planning to Treasury

All the Interior Ministry's housing authority is being given to Moshe Kahlon who will become Israel Land Authority chairman.

19/05/2015 15:13 Real estate Ori Chudy
Unwanted store credit app co Zeek raises $3m

The Series A funding was invested by Blumberg Capital, Qualcomm Ventures and Waze founder Uri Levin.

19/05/2015 14:12 Start ups Globes correspondent
Delek Drilling, Avner report higher profit

Delek Group's energy production units reported higher revenue and lower costs in the first quarter.

19/05/2015 12:08 Energy Hedy Cohen
Perrigo CEO: Mylan can buy us at a higher price

Joseph Papa told UBS that at $33 billion Mylan had "substantially undervalued" his pharmaceutical company.

19/05/2015 11:25 Healthcare Shiri Habib-Valdhorn
Shekel loses ground against dollar

FXCM Israel: While the shekel-dollar rate remains below NIS 3.85/$, the downward pressure will continue.

19/05/2015 10:23 Market Yossi Nissan

18 May 2015

Israel to set up genetic database

Israels Chief Scientist plans a national genetic database using health fund medical records.

18/05/2015 18:15 Healthcare Gali Weinreb
Bitcoin verification co Spondoolies raises $1.5m

BTCS's investment in Spondoolies-Tech follows last month's announcement that it will merge with the Israeli company.

18/05/2015 16:49 Start ups Globes correspondent
BoI to increase investment in Japanese stocks

The Bank of Israel has more than doubled the amount of foreign currency reserves it can invest in the Tokyo Stock Exchange.

18/05/2015 16:29 Economy Kobi Yeshayahou
Gett hiring 300, 150 in Israel

Newly rebranded GetTaxi plans to nearly double its global workforce in advance of the implementation of its new lines of business.

Mizrahi-Tefahot profit down 9% in Q1

CEO Eldad Fresher attributed the fall to the 1.6% decline in the Consumer Price Index.

Gilad Erdan plans Knesset bill to break up Bezeq

The former communications minister wants Bezeq to sell services and content activities, and remain an infrastructure company.

18/05/2015 14:41 Politics Gad Perez
Israel Police arrest 50 in organized crime crackdown

The arrests include leaders and senior figures in organized crime suspected of murder.

18/05/2015 13:03 Legal Globes correspondent
Minrav wins 362 unit Herzliya urban renewal tender

The project involves replacing 124 existing apartments on Miron and Bar Kokhba streets.

18/05/2015 12:44 Real estate Ori Chudy
Taboola wins big investment from China's Baidu

The multi-million dollar investment will also help the Israeli content-recommendation company penetrate the Chinese market.

18/05/2015 12:07 IT Roy Goldenberg
Online gambling co 888 bids for Bwin.Party

888, owned by the Shaked and Ben-Yizhak families, will have to pay over 800 million for its Austrian rival.

18/05/2015 11:16 Market Moshe Golan
Shekel appreciation against dollar continues

Dollar hits a six-month low against the shekel and FXCM Israel sees the rate falling further.

18/05/2015 10:42 Market Moshe Golan
Elbit Systems sets up new intelligence and cyber units

The Israeli defense electronics company spoke of new market trends and needs in reporting its first quarter results.

Price cuts hit Shufersal's Q1 results

Israel's largest supermarket chain reported lower profits and slower revenue growth.

18/05/2015 09:32 Retailing Ilanit Hayut
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