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18 March 2024

easyJet credit: Shutterstock easyJet to resume Israel flights next week

Other airlines set to resume flights include Delta, KLM and Iberia Express. But fares remain high.

18/03/2024 17:55 Tourism Stav Livne
Mobileye founder and CEO Amnon Shashua   credit: Mobileye Mobileye to close aftermarket unit, lay off 130

The Israeli company has decided to wind down the unit, which provides retrofitted advanced driver assistance technology.

18/03/2024 15:52 Employment Shiri Habib-Valdhorn
Nathan Hetz  credit: Eyal Izhar Alony Hetz execs earn NIS 45m despite NIS 2.6b loss

Despite heavy losses, the total salary cost of the seven senior executives of Alony Hetz in 2023 was about NIS 45 million.

OPC Hadera Power Plant  credit: OPC C'ttee approves power stations over ministers' objections

The National Infrastructures Committee has approved construction of the Reindeer Energy Eastern Power Station and expansion of the OPC power station in Hadera.

Construction site in Israel  credit: Shlomi Yosef Barely 1,000 foreign workers reach Israel in five months

At the beginning of the war, the government approved the import of 65,000 construction workers, but only a trickle has arrived.

Limassol, Cyprus  credit: Shutterstock Tax Authority targets Israelis' ties with Cyprus

Low taxation and cheap real estate have made nearby Cyprus an attractive destination for Israeli investment, with many Israelis moving there.

18/03/2024 11:32 Economy Ela Levy-Weinrib

17 March 2024

Israel Aerospace signs Czech radar maintenance deal

The contract is valid for 20 years and includes Czech companies, which will be responsible for a wide range of processes as local subcontractors.

Nvidia in talks to buy Israeli co Run:ai

The AI infrastructure company has raised $118 million and if the acquisition is completed it would be for many hundreds of millions of dollars.

Despite falling inflation, analysts unsure on rate cut

Analysts are concerned that the recent weakening of the shekel and the problems in the housing market may persuade the Bank of Israel Monetary Committee not to cut the rate in April.

17/03/2024 17:51 Economy Aharon Katz
Storage Drop wins EU grant for cooling systems

Storage Drop’s portion of the grant to develop innovative cooling systems in the EU funding program - HORIZON in the Clean and Efficient Cooling 2023 Track - is €1 million.

17/03/2024 15:55 Energy Globes correspondent
Apartments sold and rented

A selection of recent real estate deals in Israel in Jerusalem, Rishon Lezion, Beit Dagan, Ramla, Zikhron Yaakov, Or Akiva, and Sderot.

Doral Group US unit to receive $400m investment

The renewable energy company reported that it had signed an MOU for the investment in Doral LLC.

17/03/2024 12:57 Energy Maya Levin
Most Israelis want Rafah operation despite US - survey

In a comprehensive survey, "Globes" examines Israelis' view of the war in the Gaza Strip in the context of relations with US President Joe Biden.

17/03/2024 11:25 Politics Globes correspondent

15 March 2024

Israel's inflation rate falls again, housing prices rise

The Consumer Price Index rose 0.4% in February and apartment prices rose for the second consecutive month.

15/03/2024 14:57 Economy Maya Levin
Israeli businessman Eliezer Fishman dies at 80

The former controlling shareholder in "Globes" built an empire spanning real estate, retail and the media, before it all unraveled into Israel's largest-ever bankruptcy last decade.

15/03/2024 12:39 Economy Hezi Sternlicht

14 March 2024

Karhi fines Israel Post NIS 1.2m

Baulked in his attempt to oust Israel Postal Company chair Mishael Vaknin, Minister of Communications Shlomo Karhi accuses the company of unauthorized branch closures.

14/03/2024 20:55 Economy Idan Eretz
Larger homebuyer tax breaks proposed for immigrants

New immigrants and returning residents will pay especially low rates of purchase tax on buying a home in Israel.

Shraga Brosh handed 14-month sentence for tax evasion

The former Manufacturers Association of Israel president was convicted of evading taxes worth NIS 1.5 million and forging a document that was submitted to the Tax Authority.

14/03/2024 15:07 Legal Ela Levi-Weinrib
Zscaler buys Israeli cybersecurity co Avalor for $350m

Avalor was founded only two years ago and has raised $30 million to date.

Israelis owning three or more apartments up 40%

Since the end of 2018, the number of Israelis owning eight or more apartments has grown by 66%, Tax Authority figures show.

14/03/2024 11:24 Real estate Arik Mirovsky
Ashley Home buys online mattress co Resident for $1b

The company has 250 employees including 45 in Israel, mainly development and data experts, product managers and marketing staff.

13 March 2024

Wiz to acquire Israeli startup Gem Security for $350m

All of Gem Security's 70 employees in Israel and the US will join Wiz, sources close to the deal have told "Globes."

Ryanair cancels all Israel flights until end of October

The Irish low-cost airline is not prepared to pay the higher fees at Terminal 3, while Terminal 1 is closed. easyJet has also not resumed flights.

13/03/2024 19:09 Tourism Stav Livne
Knesset finally approves revised 2024 budget

The revised 2024 state budget passed its second and third readings by a majority of 62 MKs in favor and 55 MKs against.

13/03/2024 17:46 Economy Oren Dori
ZIM slumps to huge loss in 2023

The Israeli shipping company sees prices rising because of the Houthi crisis, which has increased demand for its services.

Israel major arms supplier to Morocco, Philippines

According to the latest SIPRI report, Israel share of global arms exports declined in 2019-2023, while Italy, Turkey and Iran gained share significantly.

Shekel continues to lose ground

In volatile forex trading, the shekel has lost 2.5% against the US dollar and euro so far this week.

13/03/2024 12:49 Market Globes correspondent
NewMed acquisition talks with ADNOC, BP suspended

"Had it not been for the war, there would have been a deal,” a source familiar with the details told “Globes”.

12 March 2024

Sa'ar splits from Gantz, demands seat in war cabinet

Gideon Sa'ar said that breaking up the party was a 'national need' because the National Unity party was expressing his policies.

12/03/2024 21:22 Politics N12 Amit Segal
SPAR to open first Israel store next week

Dutch retail chain SPAR will open its first store in Israel next week in Kfar Saba and its second store in Beersheva towards the end of the year.

12/03/2024 15:58 Retailing Shira Sapir
Israeli grief support co Empathy raises $47m

Empathy has made a full range of assistance with grief, estate settlement, probate and more available to five million employees and 35 million policyholders in the US.

12/03/2024 15:00 Start ups Globes correspondent
Housing market in Israel shows strong signs of recovery

There were 8,053 deals in January 2024, the biggest number since September 2022, the Finance Ministry chief economist reports.

12/03/2024 13:37 Real estate Arik Mirovsky
Shekel weakens sharply due to escalation in north

The shekel has lost more than 2% against the US dollar and euro so far this week.

12/03/2024 11:48 Market Aharon Katz
Mizrahi Tefahot ends 2023 with record NIS 5b profit

In the fourth quarter of 2023, Mizrahi Tefahot reported net profit of NIS 1.05 billion, down 4.5% from the preceding quarter and down 3.5% from the corresponding quarter of 2023.

11 March 2024

FDA rejects Mapi-Viatris long-acting version of Teva's Copaxone

Israeli company Mapi could receive milestone payments from Viatris worth tens of millions of dollars, and royalties from sales, if the product ever reaches the market.

Ecoppia sold for NIS 18m after NIS 1.3b TASE IPO

The business activity of the Israeli robotic solar panel cleaning company has been sold to its CEO Eran Dgani.

11/03/2024 17:01 Energy Shiri Habib-Valdhorn
Israel Discount Bank 2023 profit up 20%

The bank's board of directors has decided to distribute a dividend of 20% of the profits in the fourth quarter amounting to NIS 184 million.

OpenAI's Israel rival Deci expands Microsoft collaboration

The startup has developed a Large Language Model for code generation.

11/03/2024 10:49 Start ups Assaf Gilead
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