Investment reform  credit: Shutterstock, Eyal Izhar  processing: Tali Bogadnovsky Investment fund reforms come into effect July 1

The new rules are intended to make comparison between fund managers easier, and to limit exposure to single indices such as Nasdaq.

Rapyd credit: Rapyd Rapyd to lay off 30 and replace them overseas

Those being dismissed in Israewl will be replaced by teams in Eastern Europe, South Africa, and elsewhere where labor is cheaper.

PayBox app  credit: PayBox Discount Bank completes buyout of PayBox from Shufersal

Discount Bank is paying NIS 77 million for Shufersal's 49.9% stake in the payments app, which it sees as a strategic asset.

Mortgage taking rises credit: Unsplash Mortgage taking in Israel at highest since 2022

Mortgage taking rose to NIS 7.8 billion in May 2024, according to initial figures released by the Bank of Israel today - the highest figure since September 2022.

Altshuler Shaham Finance CEO  Yair Levinstein  credit: Sam Itzhakov Altshuler Shaham enters non-bank credit

The investment house is acquiring 80% of CrediTeam for NIS 27 million.

PayBox CEO Arik Frishman  credit: Ilan Besor Discount Bank in talks to buy out Shufersal's PayBox stake

The price for Shufersal's 49.9% holding in the payments app is NIS 77 million. Discount Bank sees the buyout as a strategic move to enlarge its customer base.

Rani Zim  credit: Meir Edri Psagot signs MoU to buy military robot co Roboteam

The Israeli unmanned ground vehicles company, which develops and manufactures robots for military and security missions, is valued at $40 million.

Yitzhak Tshuva eyes Isracard credit: Tamar Matsafi and Tali Bogdanovsky Yitzhak Tshuva eyes Isracard stake

The Israeli credit card company, operating without a controlling core, is attracting attention from the Delek Group controlling shareholder, sources inform "Globes."

Pagaya founders Credit: Inbal Marmari Pagaya laying off 14% of employees

The Israeli fintech company is laying off over 100 employees in Israel and the US.

Bill Ackman credit: Tali Bogdanovsky, Reuters, Eyal Izhar Menora Mivtachim to invest $70m in Ackman's hedge fund

This follows Bill Ackman's decision over the weekend to sell 10% of Pershing Square to various institutions and investors for $1 billion.

Alon Hadad and Eran Kimchi  credit: personal photograph The hedge fund managers bullish on Tel Aviv stocks

Mimes Strategies Hedge Fund founders Eran Kimchi and Alon Hadad predict "a crazy boom" in Israel once the war is over.

Discounted down payment offer on Tel Aviv project  credit: Dror Marmor Developers taking risks to buoy housing market

Buy now, pay later offers are proliferating: "People aren't really buying an apartment, but an option on an apartment."

Bank Leumi CEO Hanan Friedman   credit: Oren Dai Head office building sale boosts Leumi profit

Bank Leumi posted a NIS 2.8 billion net profit for the first quarter, three times its profit in the corresponding quarter when it wrote down its stake in National Valley Bank.

Dollar exposure  credit Tali Bogdanovsky (using Adobe Firefly) Israelis' overseas exposure keeps rising, and with it the risks

The diversion of investments abroad by the institutions that manage Israelis' pensions and savings has accelerated in the past couple of years.

Moshe Lary  credit: PR Mizrahi Tefahot posts NIS 1.27b profit, declares maximum dividend

The bank's credit portfolio grew by 6% in comparison with the first quarter of 2023, but financing income fell.

Smadar Barber-Tsadik  credit: Tamar Matsafi Smadar Barber-Tsadik set to return to FIBI group

A year after stepping down as CEO of First International Bank, Barber-Tsadik is in talks on becoming CEO of its parent company FIBI Holdings.

Bank Hapoalim CEO Dov Kotler credit: Cadya Levy Bank Hapoalim to distribute 40% of NIS 1.94b Q1 profit

The high dividend was agreed with the Bank of Israel, despite the regulator's instruction to the banks to consider more conservative dividends.

National Insurance Institute offices in Beersheva  credit: Tali Bogdanovsky Israel's National Insurance faces an empty purse by 2036

Prof. Avia Spivak: Raise taxes and the retirement age, and there will be no problem.

Supervisor of Banks Daniel Hahiashvili   credit: Eyal Izhar, Shlomi Yosef  processing: Tali Bogdanovsky Regulator signals banks to keep dividends low

Israel's banks generally distribute 40% of their quarterly profits, but are again expected to cut this by half.

Residential construction in Ashkelon  credit: Shutterstock/Yuri Dondish April mortgage taking shows continuing recovery

Mortgage taking in April 2024 was 28% higher than in April 2023.

Adv. Sharon Nahari  credit: Vladimir Dima New hope for Israeli cryptocurrency users

Adv. Sharon Nahari discusses the the prospects of a voluntary disclosure procedure at the Israel Tax Authority for digital currencies.

Dov Kotler  credit: Tamar Matsafi Dov Kotler stepping down as Bank Hapoalim CEO

Kotler has headed the bank for five years. A search committee has been formed to find his successor and "Globes" names some of the leading candidates.

RiseUp app company website Israeli fintech co RiseUp lays off 50

The move does not apparently reflect a lack of cash in the company's coffers, but rather the cuts will allow RiseUp to achieve profitability.

Nayax CEO Yair Nechmad  credit: David Zisser "I did some risky things"

Nayax co-founder and CEO Yair Nechmad talks about the reasons for the payments company's Nasdaq offering, and how it was built without VC investment.

One Zero CEO Gal Bar Dea credit: Cadya Levy One Zero CEO: Banks should promote economic welfare

Gal Bar Dea told the Globes Tech IL Conference that a bank's role is not only to look after customers' money but also to promote their economic welfare.

KPMG's Ilanit Adesman and Ofer Golan credit: Tamar Matsafi and Cadya Levy Private cos challenge central banks on digital currencies

At the Globes Tech IL Conference, KPMG Israel senior executives provided insights into the dramatic race to provide digital currencies.

Home loans   credit: Tali Bogdanovsky Mortgage loans back to pre-war level in March

The new home market is resurgent, but purchases of secondhand homes are stagnant, and mortgage loans are still below the multi-year average.

Roman Abramovich credit: Reuters/Maxim Shemetov Supreme Court blocks Abramovich donation to ZAKA

Overturning a lower court decision, the Supreme Court says that pending a full hearing of its appeal, Mizrahi Tefahot Bank should not transfer the NIS 8 million donation by Roman Abramovich.

Governor of the Bank of Israel Amir Yaron  credit: Yonatan Bloom BoI governor: Israel's actual rating is BBB

Amir Yaron says the market is pricing Israeli government debt higher regardless of the credit agencies, and warns of a 16% rise in direct taxes unless haredim participate fully in the workforce.

Gal Bar Dea credit: Eyal Izhar One Zero cumulative losses mount to NIS 800m

The Israeli digital bank lost NIS 357 million last year but says it will be profitable by the end of 2025.

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