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25 August 2016

Izzy Cohen Clal Insurance loss widens

In the second quarter, Clal Insurance posted a comprehensive loss of NIS 293 million.

25/08/2016 19:20 Financial services Ron Stein
Isaac Angel  photo: Eyal Izhar S&P Maalot rates Ormat debt offering A+

The geothermal energy company plans to raise $250 million from financial insitutions.

25/08/2016 17:35 Energy Kobi Yeshayahou
Yoav Galant Photo: Eyal Yizhar 15 housing projects to be completed in Arab towns

NIS 1.41 billion is being allocated by the Construction and Housing Ministry for new homes in the Arab sector.

25/08/2016 15:58 Real estate Alfi Eliyahu Shauly
Smart Home Photo: Shutterstock Bezeq sees smart home as future growth engine

The Israeli telecom company is looking for the right business model for these services.

25/08/2016 15:13 IT Gad Perez
Ben Gurion Airport Ben Gurion airport set for busiest day of year

A 6% rise to a record two million passengers is projected for August.

25/08/2016 14:18 Tourism Michal Raz-Chaimovich
Danna Azrieli Azrieli reports rise in profit

Azrieli's second quarter net profit was NIS 258 million, excluding one time expenses of purchase tax on land, up from NIS 246 million.

25/08/2016 14:02 Real estate Yossi Nissan
Shekels Photo: Shutterstock Shekel gains against dollar

FXCM Israel: The shekel is stronger against the dollar even though the dollar is strengthening worldwide.

25/08/2016 12:33 Market Globes correspondent
Copaxone US board invalidates Copaxone double-dose patents

Israeli company Teva Pharmaceutical Industries says it will appeal the decision.

25/08/2016 09:22 Healthcare Globes correspondent
halva  Photo PR Belgian airline backtracks on Israel halva boycott

Brussels Airlines denies taking Achva halva off its menu following a complaint that it was made in the West Bank.

25/08/2016 09:10 Tourism Globes correspondent
Kobi Alexander Kobi Alexander refused bail in New York court

Judge Nicholas Garaufis denied bail to the former Comverse CEO who pled guilty to securities fraud, 10 years after fleeing to Namibia.

25/08/2016 06:48 Legal Globes correspondent
startup photo: Shutterstock Israeli enterprise mobility co SkyGiraffe raises $6m

SkyGiraffe provides developers with the full, secure access to the backend data on top of which they need to build applications.

25/08/2016 06:23 Start ups Globes correspondent
Cooking gas Photo: Shutterstock Israeli co HomeBiogas turns waste into cooking gas

The startup transforms one family's waste into enough gas to cook three meals.

25/08/2016 05:48 Start ups Idan Rabi
IAI CEO Joseph Weiss Over 800 to take voluntary retirement at IAI

The plan also includes a 5% across-the-board cut in salary costs for all Israel Aerospace Industries employees.

24 August 2016

888 and Rank mull merger

Despite failing to buy William Hill, a senior executive with Israeli online gambling company 888 says it continues looking for a major acquisition.

Zadik Bino readies to sell Paz stake

Bino and his Australian partners the Liberman family will sell their controlling stake in the oil company to comply with the Concentration Law.

24/08/2016 17:26 Energy Globes correspondent
Middle East Tube soars 75% on sale of Tzrifin lot

The Middle East Tube Company is selling the lot to George Horesh and will build a new factory in the south.

24/08/2016 15:25 Real estate Moshe Golan
Chinese co buys Israel's Spacecom for $285m

Shaul Elovitch has sold Spacecom, which operates the AMOS communications satellites, to Beijing Xinwei Technology.

Taiwan's GMobi buys Israeli mobile ad co MassiveImpact

MassiveImpact is a leading performance advertising platform specializing in social media promotion of mobile applications.

Buyers put homes in children's names to avoid tax

While the market continues booming, and mortgage volumes remain high, Israeli homebuyers find new ways to avoid tax.

24/08/2016 11:36 Real estate Irit Avissar
Shekel loses ground against dollar

The shekel-dollar exchange rate still remains well below NIS 3.80/$ near a three-month low.

24/08/2016 11:12 Market Globes correspondent
Higher Tamar gas demand boosts Delek units' results

Avner and Delek Drilling sold 28% more natural gas in Israel in the second quarter than in the corresponding quarter of 2015.

24/08/2016 09:52 Energy

23 August 2016

Pfizer's acquisition of Medivation lifts Clal Biotech

Medivation has signed an agreement to buy an anti-cancer drug being developed by Clal Biotech-controlled CureTech.

23/08/2016 22:03 Healthcare Kobi Yeshayahou
Diamond Exchange business district to more than double

The plan for Ramat Gan will include new business and commercial space, homes, hotels and student dorms.

23/08/2016 18:28 Real estate Alfi Eliyahu Shauly
Azrieli launches shopping mall app in Israel

The app will know when customers enter an Azrieli mall, and offer them personally tailored bargains for stores in the mall.

23/08/2016 18:20 Retailing Ilanit Hayut
Osem-Nestle exploits Unilever's cornflakes woes

Nestle is bringing its GoFree brand to Israel, as Unilever Israel struggles to overcome the recent salmonella scandal.

23/08/2016 17:23 Basic industries Ilanit Hayut
Foreign co in talks to buy Spacecom for $285m

Shaul Elovitch has been trying to sell Spacecom, which operates the AMOS communications satellites, since 2013.

23/08/2016 17:16 IT Aviv Levy
Economy Ministry to support new meat producers

The aim is to bolster competition in the beef sector and lower consumer prices.

23/08/2016 16:17 Basic industries Ilanit Hayut
Aura to build 510 homes in Ramat Gan

The company won a 'vacate and build' project tender in Ramat Gan's Ramat Hashikma neighborhood.

23/08/2016 14:34 Real estate Alfi Eliyahu Shauly
Israel's port workers declare work dispute

The Histadrut says that the ports management is not honoring the public sector collective work agreements.

23/08/2016 14:19 Employment Nadav Shetreet
Power struggle developing at Perion

After a slump in the Israeli technology company's share price, shareholder Ronen Shilo wants to replace Perion's management.

23/08/2016 13:10 IT Shiri Habib-Valdhorn
Shekel stronger as BoI waits in wings

Market sources expect the Bank of Israel to purchase foreign currency to stop the shekel gaining against the dollar.

23/08/2016 12:16 Market Globes correspondent
Belgian co invests in proton therapy co HIL

Belgium's Ion Beam Applications S.A. has also signed an OEM agreement with Jerusalem-based HIL Applied Medical.

23/08/2016 09:40 Healthcare Globes correspondent

22 August 2016

FDA decision boosts Beta-02's artificial pancreas

The Israeli company's device, which contains living pancreas cells that automatically secrete insulin into the blood stream, could be a boon for diabetics.

22/08/2016 19:02 Healthcare Gali Weinreb
Gov't Appraiser insists home prices are rising

Tal Alderotti has hit back at suggestions that his data on Israeli apartment prices are inaccurate.

22/08/2016 18:56 Real estate Shlomit Tsur
More banks join Eliezer Fishman bankruptcy demand

With estimated debts of over NIS 4 billion, this is probably the largest-ever bankruptcy of an Israeli businessman.

22/08/2016 17:37 Legal Gur Megiddo
Kobi Alexander agrees to stand trial in US - report

The Comverse founder, who fled to Namibia to avoid options manipulation charges, will plead guilty in New York on Wednesday, reports CNBC.

22/08/2016 16:40 Legal Omri Cohen
Wix to sponsor New York Yankees

The Israeli DIY website platform company has announced a second sports sponsorship deal. Wix already sponsors Manchester City.

22/08/2016 15:21 IT Shiri Habib-Valdhorn
Unemployment in Israel falls to new low

The July unemployment rate was 4.7%, but more people are in part-time work. 

22/08/2016 13:53 Economy Globes correspondent
Israeli publishing merger to result in layoffs

Employees of Keter, recently acquired by Modan, will be dismissed or employed on reduced salaries.

Treasury: Israel's jobless rate low by any definition

The chief economist at the Ministry of Finance counters claims that the official unemployment rate presents a false picture. 

22/08/2016 11:54 Economy Moshe Golan
Delek sells Phoenix stake to China's Fujian Yango

The sale,part of Delek Group's strategy of focusing on its core energy business, still requires regulatory approval.

21 August 2016

Strauss CEO to receive share options worth NIS 17m

Shareholders will also be asked to increase chairperson Ofra Strauss's monthly salary from NIS 150,000 to NIS 175,000.

21/08/2016 18:45 Market Ofer Dak
Alrov mulls Swiss public offering

61% of the of the Israeli company's income-producing real estate properties for investment are in switzerland.

21/08/2016 18:42 Real estate Omri Cohen
Israeli consumers paying for lower agricultural output

The prices of tomatoes and squash are zooming, and consumer prices are skyrocketing as many farmers leave the sector.

21/08/2016 18:19 Economy Ilanit Hayut
Bezeq warned on Partner, Cellcom discrimination

The Ministry of Communications does not accept the conditions imposed by Bezeq on Partner and Cellcom for marketing them as part of reverse bundling.

21/08/2016 16:25 Market Gad Perez
Teva awaits fateful Copaxone patents decisions

The US Patent Office will decide on three patents relating to Teva's flagship drug double-dose version by Thursday.

21/08/2016 16:21 Healthcare Shiri Habib-Valdhorn
Building rights to Holyland project restored

Construction rights in the Jerusalem project were previously canceled, although the Holyland company was cleared of any wrongdoing.

21/08/2016 15:48 Real estate Shlomit Tsur
Cisco mulls abandoning fiber optic venture

Israel's Unlimited venture is liable to collapse unless a new controlling shareholder is found.

Apartments sold and rented

A selection of recent real estate deals in Israel including in Tel Aviv, Ramat Gan, Givatayim, Beersheva and Sderot.

21/08/2016 14:13 Real estate Ori Chudy
Haim Katz: Not enough money to help the elderly

Israel's Welfare Minister says that an exorbitant sum of NIS 100 billion is required to raise monthly pensions to NIS 5,000.

21/08/2016 13:58 Economy Globes correspondent
Israeli co Intsights Cyber Intelligence raises $1.5m

Indian software company Wipro invested the money for a stake in the Herzliya startup.

21/08/2016 12:44 Start ups Globes correspondent
New Israeli drugstore chain slashes prices

Good Pharm, set up with finance from Rite Aid founders the Grass family, aims to open 25 branches within a year.

21/08/2016 12:25 Retailing Ilanit Hayut
888 and Rank abandon chase for William Hill

Israeli online gambling co 888 and UK casino operator Rank had two bids rejected by UK bookmaker William Hill.

21/08/2016 12:21 Market Globes correspondent
US co SeaSpine buys Israel's NLT Spine

NLT Spine has developed implants and instruments that are inserted into the body and form a predefined configuration upon reaching their destination.

21/08/2016 10:57 Healthcare Gali Weinreb

18 August 2016

Smartphone repair co CellSavers raises $15m

CellSavers has already begun a major hiring round for its Israeli development center in Herzliya.

18/08/2016 19:00 Start ups Tali Tsipori
Microbot jumps 600% after merging into US co StemCells

Without surgery, Microbot's miniature robots can clean drainage pipes implanted in the body.

18/08/2016 18:55 Healthcare Gali Weinreb
Software co Somoto buys Meme Video for $13m

The acquisition of the Israeli medsia and digital ad company is Somoto's fourth since 2014.

Premature baby nutrition co Nutrinia raises $30m

The Israeli company is developing a proprietary oral insulin for intestinal malabsorption in preterm newborns and Short Bowel Syndrome in infants.

XIO Group in talks to buy Meitav Dash

Meitav Dash is Israel's second largest investment house with NIS 122 billion under management.

Strauss profit jumps 150% in second quarter

The Israeli food manufacturer also reported a 5.2% rise in revenue to NIS 1.9 billion.

18/08/2016 14:21 Market Sonia Gorodeisky
Shekel pushes dollar to near new 3-month low

The shekel has been boosted by stronger than expected Israeli growth data.

18/08/2016 11:19 Economy Globes correspondent
OurCrowd receives license to raise funds in Singapore

The Israeli crowdfunding platform has received a full Capital Market Services (CMS) license from the Monetary Authority of Singapore (MAS).

Road 6 opens to Shoket West Interchange

The Cross Israel Highway now stretches 166 kilometers from Ein Tut in the north to Shoket West in the south.

2nd Turkish Gaza aid ship to sail to Ashdod

The ship will carry 5,000 tons of flour, sugar, rice, seeds, clothing, diapers, etc.

18/08/2016 06:43 Politics Yuval Azulai
IDF unveils missile alert system for homes

The IDF system, developed with Beeper Communications, warns to within a square kilometer where the missile will hit.

17 August 2016

IAI launches rubble searching rescue system

The IDF and Israel Aerospace unit ELTA's system uses cellphone signals to locate people buried beneath buildings.

Cofix to open Yavne factory

The new factory will supply 148 Cofix and Super Cofix branches in Israel with 13,000 sandwiches a day.

17/08/2016 16:34 Retailing Yuval Azulai
Bat Yam urban renewal plan approved

950 homes will be built to replace 168 demolished apartments in the Ramat Hanasi neighborhood.

17/08/2016 15:39 Real estate Alfi Shauli
Kahlon: Banks, builders don't want lower housing prices

"In the end 100,000 young people will get housing," insists Minister of Finance Moshe Kahlon.

Formula eyes Allot acquisition

Allot Communications' $172 million market cap includes $117 million in cash.

Cisco layoffs will hit Israel - report

Cisco plans axing 14,000 employees worldwide, 20% of its workforce, reports CRN. Cuts in Israel will likely be less than 20%.

17/08/2016 14:22 Employment Globes correspondent
Partner reports higher profit, lower revenue

The company's subscriber base was down 2% to 2.7 million in the second quarter.

17/08/2016 14:18 Market Globes correspondent
El Al profit doubled in Q2

El Al CEO: Revenue and profitability rose despite the challenge of competition and lower fares.

17/08/2016 13:26 Tourism Yossi Nissan
Hapoalim joins bankruptcy demand against Fishman

The bank wants to join the Tax Authority's request to issue a receivership order for Eliezer Fishman's assets.

Shekel weaker despite strong growth figures

FXCM Israel: The Bank of Israel may have no choice but to use intervention tools if the shekel-dollar rate falls lower.

17/08/2016 11:41 Market Globes correspondent
Optical communications co ColorChip raises $20m

The Israeli company's technology meets the growing need to help datacom manage all of the exponentially growing traffic.

17/08/2016 09:48 Start ups Globes correspondent
Ford buys Israeli machine learning co SAIPS

The acquisition of the Rehovot-based company is part of Ford's pledge to develop a fleet of driverless cars by 2021.

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