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23 August 2017

deal  merger  picture: photo to go Vista Equity Partners buys Israeli co Applause

The digital testing company, which has raised $115 million, was acquired for several hundred million dollars.

Hermes UAV  photo: Reuters Elbit unveils upgraded Hermes UAV

The Hermes 900, briefly used in Operation Protective Edge, has since undergone further refinements.

Merck HQ Germany  photo: Bloomberg Merck unveils €20m Israel electronics incubator

The PMatX Yavne incubator will serve Israeli startups and focus on next-generation electronics and advanced materials.

23/08/2017 18:07 Healthcare Tali Tsipori
Check Point Photo: Reuters Check Point extends lead as Israel's most valuable co

Teva's market cap has fallen further behind Check Point over the past week.

23/08/2017 18:07 Market
Teddy Sagi Playtech acquires ACM assets for $150m

The acquisition will enhance Playtech Financials Division's B2B offering.

23/08/2017 17:31 IT Globes correspondent
Teva Photo: Reuters Teva, Histadrut reach partial agreement on layoffs

The number of layoffs at Neot Hovav has been reduced from 175 to 110 but there is still no agreement at the Kfar Saba plant.

23/08/2017 16:37 Healthcare Yifat Praiz
Sagi Chemetz photo: Ido Isaac Havas buys Israeli social media agency Blink

The substance of the deal is an exchange of knowledge, as in the acquisition of startups.

startups Gov't cos startup investment rules streamlined

Founding of technology companies through an abbreviated procedure is also being proposed.

23/08/2017 14:28 Start ups Amiram Barkat
Construction in Ra'anana Photo Shlomi Yosef First Ra'anana urban renewal project begins

154 new apartments will replace 48 old apartments being demolished.

23/08/2017 13:07 Real estate Shlomit Tsur
new homes Home sales fall sharply in Q2

24,000 homes were purchased in the second quarter of 2017, the fewest since the 0% VAT bill was proposed in 2014.

23/08/2017 12:30 Real estate Hillel Koren
Tel Aviv Stock Exchange Photo: Eli Yizhar Megureit completes NIS 250m bond issue

Demand from financial institutions totaled NIS 400 million, and the amount of bonds to be sold was increased.

23/08/2017 12:01 Real estate Kobi Yeshayahou
El Al worker protest  photo: Globes El Al maintenance workers promise peaceful Dreamliner protest

Some 2,400 guests were invited to watch El Al's first Boeing Dreamliner land in Israel.

23/08/2017 10:06 Tourism Michal Raz-Chaimovich

22 August 2017

Netanya deputy mayor arrested on suspicion of bribery

Israel Police are questioning Rabbi Shimon Sher on allegations of bribery, fraud and breach of trust.

22/08/2017 19:49 Legal Chen Ma'anit
$2b bids expected for Teva's women's health assets - report

US companies Church & Dwight Co. and Cooper Cos. are both interested in Teva's women's health portfolio, "Bloomberg" reports.

Frutarom buys Swiss savory tastes co for $7m

Mühlehof Gewürze is the Israeli company's sixth acquisition this year.

22/08/2017 18:30 Market Globes correspondent
Net expands in Bezeq investigation

Shaul Elovitch's daughter-in-law Orna Elovitch is the latest to be questioned in the affair.

Fleet management co Mobility Insight raising $5m

The company has developed a vehicle fleet and transportation management solution

Partner in talks to buy cinema chain Globus Max

Partner is searching for synergetic source of revenue.

22/08/2017 14:41 Market Gad Perez
Gov't industrial aid program set to be NIS 250-400m

Disappointed industrialists: The amounts are ridiculous.

22/08/2017 14:36 Economy Yuval Azulai
UN threatening to publish West Bank cos blacklist

The companies on the list include Caterpillar, Airbnb, Priceline.com, and TripAdvisor.

Israeli big data co Redis Labs raises $44m

Goldman Sachs led the round in the database management system developer, which has raised $86 million since it was founded in 2011.

Meitav Dash cancels sale to XIO

The deadline for completion of the deal in its revised format passed yesterday.

22/08/2017 10:27 Financial services Yossi Nissan
Trading suspended in Meitav Dash

An announcement is expected on the deal for the sale of the investment house to XIO.

22/08/2017 10:02 Financial services Yossi Nissan
FIMI buying control of Orbit Technologies

FIMI Opportunity Funds will initially take a 33.4% stake in communication systems provider Orbit at a 35% premium. Orbit's share price has soared.

21 August 2017

Israel's 2016 budget deficit lowest since 2008

The budget deficit fell to NIS 25 billion last year, according to the State Report.

21/08/2017 19:54 Economy Amiram Barkat
Poalim IBI slides as CEO leaves to form new firm

Erez Goldschmidt will own half of the underwriting company he is founding with Rafi Lipa and Gal Amit.

Tax debts on the rise

Debts to the Israel Tax Authority grew by NIS 2 billion in 2016.

21/08/2017 19:51 Economy Amiram Barkat
Israeli vacationers desert Eilat for Cyprus

The number of Israelis searching for hotel rooms in Cyprus has soared 400% while searches for Eilat have halved says HotelsCombined.

21/08/2017 19:47 Tourism Michal Raz-Chaimovich
Treasury admits growth weak

"Investment in housing was at a standstill in the first quarter."

21/08/2017 19:39 Economy Amiram Barkat
Israel sees NIS 17.5b gas royalty revenue

The Accountant General assumes that all 251 BCM of gas from Tamar would be sold by 2041 and 354 BCM of gas from Leviathan by 2065.

21/08/2017 19:35 Economy Amiram Barkat
Steinitz extends Delek, Noble's Alon D license

The Minister of Energy said there had been no possibility for license holders to drill due to the dispute over Israel's economic waters with Lebanon.

21/08/2017 18:39 Energy Sonia Gorodeisky
Zara mulls online sales in Israel

At present Israelis cannot order items from the brand's international website.

21/08/2017 18:24 Retailing Anat Bein-Leibovitz
Petah Tikva-based Amenity Analytics raises $7.6m

The company has developed a platform for deriving insights from any type of text.

21/08/2017 18:05 Start ups Tali Tsipori
Accountant General admits IDF pension liability unknown

"The Ministry of Defense calculation of its unfunded pension is incomplete," Rony Hizkiyahu says.

21/08/2017 17:49 Economy Amiram Barkat
Unemployment falls to new low of 4.1%

Unemployment in Israel fell from 4.3% in June to 4.1% in July, the Central Bureau of Statistics reports.

21/08/2017 17:31 Economy Globes correspondent
Jerusalem - Tel Aviv train in first trial run on new line

If all goes to plan the 28 minute rail link will begin services in April 2018.

RADA raises $10m from Israeli institutions

The Israeli defense electronics company accepted purchase offers from Yelin-Lapidot, More, Noked Capital, Phoenix Insurance and others.

Tower setting up Chinese fab

The Israeli semiconductor company has received a first payment of $18 million from Tacoma (Nanjing) Semiconductor Technology Co.

21/08/2017 15:10 IT Globes correspondent
State seeks new court hearing on third home tax

The state's petition concerns the extent of judicial intervention in legislation.

21/08/2017 14:37 Real estate Chen Ma'anit
El Al maintenance workers threaten Dreamliner ceremony

El Al's first Boeing Dreamliner is due to land in Israel on Wednesday.

21/08/2017 14:11 Tourism Michal Raz-Chaimovich
Cross Israel Highway, Solel Boneh sue each other

Cross Israel Highway says Solel Boneh finished building its segment of Highway 6 14 months late.

Tahal wins project worth NIS 320m in Zambia

Together with its partner ZRB, Tahal will plan and construct a community agricultural project on 14,000 acres.

20 August 2017

Intel CEO arrives in Israel

Brian Kraznich is visiting Mobileye in Jerusalem, the new fab in Kiryat Gat and the development center in Haifa where the 'Coffee Lake' processor is being developed.

Bezeq board kept CFO, legal advisor away from meetings

Bezeq: They took part in most of the meetings during the period in question.

US Congress to investigate Copaxone price hikes

Teva has raised the price of Copaxone 10-fold since 1996, two US Congressmen claim.

Israeli smart parking co Spaceek raises $1.4m

The company's system can be used to order a parking space in advance.

IAI develops robot baggage loading for Singapore airport

The system will dramatically improve the passenger experience by reducing baggage loss and damages.

Man arrested for suspected extortion of Bank Yahav

The 32 year-old suspect allegedly threatened to expose particulars of customers' accounts.

20/08/2017 16:57 Financial services Chen Ma'anit
Teva launches generic testosterone boost treatment

Teva has announced the launch of generic Axiron (testosterone) topical solution. Axiron has annual sales of $247 million in the US.

Electricity rates in Israel to fall 3% in January

Electricity costs per household will fall NIS 120 annually.

20/08/2017 12:23 Energy Amiram Barkat
Electra Consumer Products results show Golan Telecom decline

Electra Consumer Products reported a NIS 37.7 million net profit for the second quarter.

20/08/2017 12:19 Retailing Yossi Nissan
Isramco returning Daniel licenses to state

The license operator recommended returning the licenses because of the geological risk and expected difficulty in commercializing any gas that might be found.

20/08/2017 11:12 Energy Globes correspondent
Shutterfly orders further 20 HP Indigo presses

Together with the delivery of 25 12000 Digital Presses last year, the deal with Shutterlfy is the largest in Ness Ziona-based HP Indigo's history.

20/08/2017 10:31 IT Globes correspondent
Migdal posts NIS 141m Q2 profit

The insurance company's profit was helped by improved underwriting results and better capital market returns.

20/08/2017 09:54 Financial services Nitzan Cohen

17 August 2017

Bezeq internal auditor barred from probing Yes deal

Audit committee chairman Mordechai Keret rejected auditor's request to examine the purchase of Yes shares from Shaul Elovitch.

17/08/2017 19:07 Legal Gad Perez
Frutarom Q2 net profit up 23% to $37m

CEO Ori Yehudai: The merger and streamlining processes will continue to strengthen our competitiveness. 

Kenon completes $650m bond issue

The bond offering which will be used to replace bank debt, was made through a Peruvian company.

17/08/2017 18:17 Financial services Nitzan Cohen
Xinwei officially cancels Spacecom acquisition

Spacecom says that are other companies interested in buying or merging with it.

Mobileye: We never used Hebrew University IP

Mobileye and its founder Prof. Amnon Shashua say the Hebrew University cannot re-open existing agreements on royalties.

Drug development co Mapi Pharma raises $10m

The financing is for a Phase III trial for the Israeli company’s lead product, Glatiramer Acetate (Copaxone) Depot, for treating multiple sclerosis.

Mobileye founder quits Hebrew U over royalties dispute

Prof. Amnon Shashua is resigning his position at the Hebrew University due to a dispute about the $15.3 billion sale of Mobileye to Intel.

17/08/2017 15:08 IT Idan Rabi
Homeowners by Chords Bridge win compensation

67 homeowners living near the entrance to the city on Herzl Boulevard will receive NIS 3.5 million compensation.

17/08/2017 14:28 Real estate Shlomit Tsur
Intec Pharma raising $57.5m on Nasdaq

The Israeli clinical-stage biopharmaceutical company is developing drugs based on its proprietary Accordion Pill platform technology.

Shekel firm despite rate delay concerns

As inflation moves deeper into negative territory, there are fears the Bank of Israel might not raise interest rates until 2019.

17/08/2017 13:35 Market
Social Finance Israel raises NIS 20m for diabetes treatment

The National Insurance Institute pays investors if the treatment is successful.

17/08/2017 12:30 Healthcare Gali Weinreb
Tel Aviv startup scene guide to be published

A new venture focuses on Tel Aviv, Israel's technology capital, offering a Lonely Planet-style guide to Israeli high tech in English.

17/08/2017 11:04 Economy Idan Rabi
IAI reports record order backlog boosted by Indian deals

Israel Aerospace saw higher profit on lower revenue in the second quarter, in which the company signed its biggest-ever deal.

Gas royalty revenue down slightly in first half 2017

Gas production from the Tamar field rose 7% but the appreciation of the shekel meant revenue fell 0.3%, the Energy Ministry reports.

17/08/2017 07:24 Economy Sonia Gorodeisky

16 August 2017

Prescription error elimination co MedAware raises $8m

The Israeli company has developed algorithm-rich solutions for the detection and elimination of prescription errors.

16/08/2017 18:14 Healthcare
Another arrest in Steinmetz investigation

Udi Neta, a former Tel Aviv city council member, is suspected of aiding Beny Steinmetz and Tal Silberstein in alleged money laundering regarding fictitious deals in Romania.

Robot drug dispensing co RescueDose raises $2.5m

The investing company is ERA Brazil Israel, owned by Eric Ben-Mayor and partners.

16/08/2017 17:24 Healthcare Gali Weinreb
RADA wins $8m US radar deal

The radar will be used by a key US military force, providing it with air surveillance with emphasis on counter-UAV.

Citi downgrades Teva

Admitting it had been wrong about Teva, Citi downgraded the company from "Buy" to "Neutral."

Dr. Michael Bricker joins Meitar Liquornik law firm

He will serve as senior counsel to the Israeli law firm's tax and corporate-securities groups.

16/08/2017 15:44 Legal Globes correspondent
Ramat Gan mayor to be indicted subject to hearing

Yisrael Zinger is accused of taking bribes, fraud and breach of trust.

16/08/2017 15:06 Legal Chen Ma'anit
Israeli economy grew at 2.7% in Q2

GDP grew at a sluggish 2.1% in the first half of 2017, the Central Bureau of Statistics reports, down from 4.7% in the corresponding period of 2016.

16/08/2017 13:36 Economy Amiram Barkat
Azrieli Group profit nearly triples

The Israeli income-producing property group has recently opened the Rishonim Mall and Sarona Tower.

Blackstone halts NSO acquisition talks - report

The US private equity fund had been in talks to buy 40% of the Israeli smartphone surveillance company for $400 million, reports "Reuters."

16/08/2017 12:30 IT Shiri Habib-Valdhorn
Qoros teams with strategic partners in China

The company has announced orders for 30,000 vehicles to be supplied to large institutional customers over the next two years.

El Al Q2 profit halved

El Al's share price has fallen sharply on the Tel Aviv Stock Exchange this morning.

16/08/2017 11:28 Tourism Yossi Nissan
Mobileye founders implicated in insider trading affair

According to an indictment filed by the US SEC, Amnon Shashua and Ziv Aviram disclosed information about the acquisition by Intel before it was announced.

16/08/2017 11:02 Legal Globes correspondent
Partner dips as Q2 financials show revenue drop

Quarterly revenue fell 10% to NIS 805 million, but net profit rose 31% to NIS 34 million.

16/08/2017 10:32 Market Globes correspondent
July inflation reading weakens shekel

The capital market now sees the Bank of Israel's interest rate remaining low well into 2018. 

16/08/2017 09:59 Market Nitzan Cohen
Strike over at Mizrahi Tefahot

The management and workers committee at Mizrahi Tefahot Bank signed an agreement to end their dispute this morning.

16/08/2017 07:19 Financial services Hillel Koren

15 August 2017

CPI unexpectedly fell in July, home prices rising

Israel's Consumer Price Index fell by 0.1% in July as inflation moves deeper into negative territory.

15/08/2017 18:55 Real estate Amiram Barkat
Delek Drilling revenue rises on increased Tamar gas supply

The newly merged gas production company announced a $300 million quarterly dividend.

15/08/2017 17:32 Energy Globes correspondent
Blue Square to build 2 Tel Aviv towers

The company and its partners bought the Motorola site in Tel Aviv for NIS 470 million.

15/08/2017 16:47 Real estate Shlomit Tsur
Cerberus, Advent eye Teva assets - report

Foreign media reports say the investment funds are interested in buying Teva's oncology and pain treatment divisions.

15/08/2017 16:06 Healthcare Globes correspondent
Device repair co Cellsavers rebrands as Puls raises $25m

The funding will enable Puls to widen its offering of rapid-response, in-home digital services beyond cellphone and tablet repair to other devices.

15/08/2017 16:00 Start ups Globes correspondent
Frutarom buys UK co Flavours & Essences for $19.5m

This is the Israeli flavors and natural specialty fine ingredients company's fifth acquisition this year.

Sol-Gel planning Nasdaq IPO at $200-300m valuation

The dermatology company's unique wrapping method makes it possible to combine two anti-acne drugs.

15/08/2017 15:31 Healthcare Gali Weinreb
Check Point overtakes Teva to become Israel's most valuable company

Israeli IT security company Check Point has a market cap of $17.7 billion compared with Teva's $17.4 billion.

15/08/2017 14:44 Market Globes correspondent
Africa-Israel bondholders cancel Saidoff exclusivity

The bondholders are demanding that the Saidoff brothers restore what they say is the original version of their bid.

Elbit Systems posts strong revenue, profit growth

The Israeli defense company’s orders backlog totaled $7,329 million at the end of the second quarter, up from $6,818 million a year earlier.

First International Bank reaches 8.3% return on equity

The bank will distribute a NIS 70 million dividend.

15/08/2017 11:01 Financial services Yossi Nissan
Discount Bank Q2 profit up 14%

The bank saw a substantial improvement in its efficiency ratio. 

15/08/2017 10:46 Financial services Yossi Nissan
Improved efficiency boosts Leumi's Q2 results

Bank Leumi's voluntary early retirement program has brought its efficiency ratio to below 60%.

15/08/2017 09:56 Financial services Irit Avissar
Bank Hapoalim posts NIS 812m Q2 profit

Return on equity in the quarter was 9.5%, while the bank's tier-1 capital adequacy ratio rose to 11.35%.

15/08/2017 09:27 Financial services Yossi Nissan
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