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15 April 2024

Inflation credit: Tali Bogdanovsky Inflation back on the rise, housing prices rising again

Israel's Consumer Price Index rose 0.6% in March, higher than expected, while apartment prices rose for the third consecutive month.

15/04/2024 18:50 Economy Maya Levin
Snappy founders Hani Goldstein and Dvir Cohen credit: Elad Malka Gift platform Snappy raises $25m as valuation halved

The financing round was completed at a company valuation of $180-200 million, half of the $400 million valuation given to Snappy when it raised $70 million in 2021.

15/04/2024 18:24 Start ups Assaf Gilead
Shekels credit: Shutterstock Vladerina32 Shekel stronger in volatile trading

The Israeli currency appreciated strongly this morning but gave up much of the gains, after today's representative rate was set, on US reports that Israel might retaliate today for Iran's attack.

15/04/2024 17:33 Market
easyJet credit: Michal Raz-Haimovich easyJet temporarily suspends Israel flights

While many airlines are resuming flights tomorrow, UK low-cost carrier has announced a temporary halt in flights until April 21.

15/04/2024 16:33 Tourism Stav Livne
Yishai Davidi  credit: Yonatan Bloom FIMI sells Orbit Technologies shares to institutions

The sales, for a total of NIS 100 million, were chiefly to More Investment House and Meitav. Private equity firm FIMI remains the controlling shareholder.

Cars ready for export from Turkey in 2023  credit: Shutterstock Could car exports to Israel be Erdogan's next target?

Turkey is the fourth largest source of vehicles imported into Israel. Trade relations with China are looking less rosy as well.

15/04/2024 12:50 Economy Dubi Ben-Gedalyahu
Vision  credit: Eyal Fischer RevitalVision announces success in new trials

RevitalVision's products treat certain eye conditions by retraining the brain.

15/04/2024 10:33 Healthcare Gali Weinreb

14 April 2024

Gaza border's SouthUp incubator resumes operations

The Negev tech incubator has also established an impact fund for new startups to help with the rebirth of the region.

14/04/2024 19:30 Start ups Galit Hatan
Iran boosts Israel's defense industry

Sigma CEO Yair Shani: Iran has done excellent sales promotion for Israel's defense companies.

Housing deals in Israel show signs of recovery

In February 2024, 7,490 homes were sold, according to the Central Bureau of Statistics, up 27.4% from February 2023.

14/04/2024 14:46 Real estate Yuval Nisani
Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Or Yehuda, Elad, Pardes Hana-Karkur, Nof Hagalil and Beersheva.

Stock market reacts calmly to Iranian attack

The main indices are down but not sharply falling, while Elbit Systems and other defense stocks are gaining.

14/04/2024 11:37 Market Globes correspondent
Akamai to buy Israeli API security co Noname - report

The reported $500  million acquisition price is below Noname Security's valuation in its last fund raising round.

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.

Iran launches massive aerial attack on Israel

99% of the threats were intercepted, but some damage was caused to a military base in the south of Israel, and a Bedouin child was injured by falling debris.

14/04/2024 08:06 Politics Dean Shmuel Elmas

11 April 2024

Gov't presents draft plan for rehabilitating north

At this stage, the plan is budgeted at NIS 3 billion. Confrontation Line Forum Moshe Davidovich: The plan still falls short.

11/04/2024 21:14 Economy Yuval Nisani
Rani Zim pulls NIS 250m deal in face of investors' anger

Zim had proposed that Group Psagot should buy his stake in Rani Zim Shopping Centers. He controls both companies.

11/04/2024 17:59 Real estate Hezi Sternlicht
Mia Dynamics develops robot defense platform

The company is adapting its quad cycles and quad boards for remote control military use.

Victoria's Secret opens first two Israel stores

Delta Brands has opened its first two lingerie branches in the country in Petah Tikva and Haifa.

11/04/2024 14:44 Retailing Shira Sapir
Electricity supply market to be fully competitive from July

Until now only Israeli households with a remote meter were able to switch suppliers but from July all consumers will be able to do so.

11/04/2024 12:55 Energy Dean Shmuel Elmas
Shekel weakens amid Iran attack concerns

Prico: If an exceptional security incident does not happen and due to the consistent supply of foreign currency, the dollar will resume depreciating against the shekel.

11/04/2024 11:36 Market Globes correspondent
Wall Street beckons new wave of Israeli tech IPOs

"Globes" examines some of the growth companies, which could start trading in the US from later this year.

11/04/2024 10:47 Market Assaf Gilead

10 April 2024

Israeli importers examine indirect routes from Turkey

Israeli importers mull bringing in Turkish goods via Slovenian ports, "Globes" has been told by sources close to the matter.

10/04/2024 19:16 Politics Dean Shmuel Elmas
Planned Metro excavations revive artificial island idea

40 million cubic meters of earth will be excavated in constructing the Gush Dan Metro. Could it be used to build an island off Israel's coast?

Team8 records exits worth $1.1b in five months

Wiz has confirmed the $350 million acquisition of Gem Security, in which Team8 was one of the main investors.

Israeli short-term rental platform Guesty raises $130m

Active in over 80 countries, Tel Aviv-based Guesty has developed a comprehensive and easy-to-use platform for the short-term rental property management market.

10/04/2024 14:01 Start ups Globes correspondent
Penalty imposed on David Ezra for cash in suitcase affair

The Israel Tax Authority has imposed a NIS 850,000 financial sanction on Ezra who was caught at Ben Gurion airport in 2022 with €475,000 in cash in his suitcase.

10/04/2024 13:07 Legal Ela Levi-Weinrib
Two bidders remain for Israel Post

A high salaries expense, lack of clarity about the real estate, and exposure to taxation of the Postal Bank, have deterred potential buyers.

10/04/2024 11:36 Economy Hezi Sternlicht

09 April 2024

No end in sight to Israel's tourism slump

There were 68,100 tourist entries into Israel in February 2024, the Central Bureau of Statistics reports, down from 319,100 tourist entries in February 2023.

09/04/2024 18:19 Tourism Globes correspondent
Selina market cap collapses from $1.2b to $12m

The Israeli hospitality company's negative momentum is continuing this week with the share price down 27% to a new low of $0.04.

09/04/2024 16:45 Tourism Shiri Habib-Valdhorn
BoI will probably cut rate next time say analysts

Mizrahi Tefahot Bank chief strategist Yonie Fanning: Basic economic conditions are conducive to lower rates.

09/04/2024 15:24 Economy Aharon Katz
Israeli data security co Cyera raises $300m

The company has completed the financing round at a company valuation of $1.4 billion.

09/04/2024 14:48 Start ups Assaf Gilead
Big Tech 50 reveals sharp falls in Israeli startup valuations

The Israeli R&D partnership has reported to the TASE that 10 of the 14 startups in which it has invested have seen their valuations decline.

09/04/2024 13:18 Start ups Assaf Gilead
Rafael's C-Dome makes first operational interception

The naval version of Iron Dome shot down “a suspicious aerial target” in the Gulf of Eilat.

Turkey officially bans exports of 54 items to Israel

Turkish Minister of Foreign Affairs Hakan Fidan declared yesterday that steps would be taken against Israel after its refusal to allow Turkish aid to be parachuted into the Gaza Strip.

09/04/2024 10:30 Economy Dean Shmuel Elmas

08 April 2024

State deal with key Netanyahu trial witness canceled

The decision to cancel the state witness agreement stems from contradictions between the evidence he gave in trial and the evidence he gave when questioned by police.

08/04/2024 19:10 Legal Nitsan Shafir
Perion plunges on Microsoft Bing search engine changes

The Israeli company has cut its annual guidance due to a drop in income from search advertising because of changes in pricing made by Microsoft's Bing search engine.

08/04/2024 18:23 IT Shiri Habib-Valdhorn
Israel's forex reserves hit record high

Israel’s foreign exchange reserves at the end of March 2024 stood at $213.768 billion, an increase of $6.947 billion from their level at the end of the February, the Bank of Israel reports.

08/04/2024 16:53 Economy Globes correspondent
Another senior professional leaves Transport Ministry

Transport Planning Division head Shai Kedem has announced that he will step down.

Bank of Israel keeps rate at 4.5%

The Bank of Israel said that the extent of geopolitical uncertainty has increased, reflecting a relatively high risk premium for the economy.

08/04/2024 16:10 Economy Maya Levin
Paddy Cosgrave back as Web Summit CEO

The Irish entrepreneur stepped down six months ago after condemning Israel's attack on Gaza, without mentioning Hamas's October 7 atrocities.

08/04/2024 14:38 Politics Meytal Vaizberg
Fiscal deficit widens again

Israel's fiscal deficit continued to widen in March, reaching 6.2% of GDP over the past 12 months, the Ministry of Finance accountant general reports.

08/04/2024 13:48 Economy Oren Dori
Dovi Frances: Group 11 fifth fund hasn't lost a shekel

Frances responded on Linkedin to press comments on his fund's performance as 'a disappointment'.

08/04/2024 12:57 Start ups Assaf Gilead
War eroding investment in Israeli tech, study finds

Research institute RISE Israel reports that investment in Israel's tech sector has declined by about 30% since the Swords of Iron war broke out.

08/04/2024 11:39 Start ups Meytal Vaizberg

07 April 2024

Tel Aviv apartment rents falling

With demand down and supply up as Airbnb apartments are released for long term rentals, Tel Aviv landlords are struggling to find tenants.

Fightec to represent Italian defense co Teknel in Israel

Teknel produces mobile command and control cabins ranging in cost from tens to hundreds of thousands of dollars.

IWI unveils computerized small arms system

According to IWI, the Arbel system enhances both reaction speed and accuracy.

Apartments sold and rented

A selection of recent real estate deals in Israel in Beit Shemesh, Tel Aviv, Holon, Beer Yaakov, Ashdod and Atlit.

07/04/2024 13:22 Real estate Anat Daniely Lev
ZOOZ Power completes SPAC merger

The company is a developer of fast charging solutions for electric vehicles.

Boycott drove McDonald's to buy Israel franchise - report

McDonald's took the decision to buy its Israel franchise, CNBC reports, due to the fallout from the pro-Palestinian boycott against the fast food chain.

07/04/2024 12:52 Retailing Globes correspondent
Insurance software co Sapiens mulls sale

According to Reuters, the company, which has a $1.8 billion market cap, has hired William Blair to find a buyer.

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