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07 December 2023

Electric vehicle taxation  credit: Shutterstock EVs face being taxed out of contention in Israel

Purchase tax on electric cars will rise by 35% on January 1, and as things stand the tax benefit will expire altogether a year later.

Shekel-dollar ASAP Creative Negligible Bank of Israel foreign currency sales in November

The Bank of Israel reports that it sold only $300 million in foreign currency in November as the shekel strengthened 9% against the dollar.

07/12/2023 15:08 Market Aharon Katz
Ryanair credit: Piote Mitelski, Ryanair Ryanair to cancel all January Israel flights

The frequency of flights landing and taking off from Ben Gurion airport has fallen 80% since the start of the war.

07/12/2023 13:05 Tourism Nevo Trabelsy
Fintech Photo: Shutterstock Fintech co Pontera raises $60m at $550m valuation

The Israeli company's platform allows US 401(k) participants to receive comprehensive wealth management services by personal financial advisors.

Merav Michaeli credit: Yoav Dudkovich Yediot Ahronot Merav Michaeli to step down as Labor party leader

Michaeli accepts responsibility for the state of the party and will also not stand for Knesset on the Labor party list in the next elections.

07/12/2023 12:19 Politics N12
Joe Biden  credit: Shutterstock Republican Senators block aid to Israel

The defense aid package for US allies blocked in Congress amounts to $111 billion, of which $10 billion is allocated to Israel.

07/12/2023 11:03 Politics Globes correspondent
ZIM ship credit: Shutterstock Rates jump as Israeli shipping reroutes around Africa

The terror attacks by the Iranian-backed Houthi rebels in Yemen are causing shipping delays and price rises for Israeli trade.

06 December 2023

Ministers stay away as budget passes first Knesset reading

Minister of Defense Yoav Gallant and Minister of Economy Nir Barkat were absent in the Knesset today, as it approved the first reading of the 2023 budget changes.

06/12/2023 18:07 Politics Oren Dori
AI data platform VAST Data raises $118m at $9b valuation

VAST Data's platform unifies storage, database, and containerized compute engine services into a single, scalable software platform.

06/12/2023 15:51 Start ups Globes correspondent
Shekel resumes strong gains

The euro is trading at its weakest level against the shekel since August.

06/12/2023 15:31 Market Aharon Katz
NeuroSense Therapeutics slumps after trial results

The company's share price fell sharply even though the ALS Phase IIb trial achieved its endpoints.

06/12/2023 14:36 Healthcare Gali Weinreb
PwC: Israel tech exits plunge 56% in 2023

According to PwC, the aggregate value of acquisitions and IPOs fell by 56%, from $16.8 billion in 2022 to $7.5 billion this year.

06/12/2023 13:02 Start ups Meytal Vaizberg
ISA: No suspicious short selling before Hamas attack

The Israel Securities Authority reviewed trading immediately after October 7, and again on receipt of the "Trading on Terror" study, and found nothing untoward.

06/12/2023 10:39 Legal Hezi Sternlicht

05 December 2023

Hospitality co Selina founders set to lose controlling stake

The company has agreed a debt settlement and raised up to $68 million in new investment.

05/12/2023 17:44 Tourism Shiri Habib-Valdhorn
Israeli auto-tech safety co Foretellix raises $42m

Foretellix provides safety-driven verification and validation (V&V) solutions for Automated Driving Systems and Advanced Driver Assistance Systems.

05/12/2023 16:41 Start ups Globes correspondent
Egypt could be big casualty of Houthi attacks on Israel

The Iranian-backed Houthis may be targeting Israeli shipping but they could wreak havoc with Egypt's economy as ships avoid the Suez Canal.

"War could cause permanent GDP loss"

Market expert Dr. Ron Eichel doesn't expect a post-war boom, but sees a comeback for real estate.

05/12/2023 15:20 Economy Netanel Ariel
Likud MKs rebel against Smotrich's 2023 budget changes

Knesset Finance Committee discussions were halted after Likud MK Eliyahu Revivo threatened to vote against the budget changes, unless coalition funds are cut further.

05/12/2023 13:05 Politics Oren Dori
Fortissimo outbids Aaron Frenkel for control of Cellcom

Fortissimo has signed an MOU with Discount Investment to buy its 35.6% stake in telco Cellcom at a company valuation of NIS 2.6 billion.

Israeli data privacy co Mine raises $30m

Mine, which develops B2B and B2C solutions in the field of data privacy, and governance, has 150 customers including Reddit, HelloFresh SE, Fender, Guesty, Snappy, and Data.ai.

05/12/2023 12:33 Start ups Globes correspondent
Israeli defense cos rise in global ranking

Elbit Systems, IAI, and Rafael all improved their positions in the Stockholm International Peace Research Institute revenue ranking for 2022.

04 December 2023

Management shakeup as Tesla Israel market share falls

Tesla Israel will lose its management autonomy and be controlled from Europe.

Huge errors in US study about TASE short sellers

Tel Aviv Stock Exchange EVP head of trade Yaniv Pagot: The researchers did not realize that TASE shares are quoted in agorot not shekels.

04/12/2023 16:16 Politics Hezi Sternlicht
Amazon stays silent on employee held hostage in Gaza

The tech giant has refused to issue a statement calling for the release of its AWS engineer Sasha Troufanov.

04/12/2023 15:27 Politics Meytal Vaizberg
Cloud security co Wiz buys Israeli startup Rafft

The acquisition, the first by Wiz, is estimated to be in the tens of millions of dollars. Wiz CEO Assaf Rappaport: Acquiring Rafft will assist in our efforts to promote secured development in the cloud.

Despite war average salary rose in October

In October 2023, after the outbreak of the war, the average salary in Israel was NIS 12,488, 5.9% higher than in October 2022, the Central Bureau of Statistics reports.

04/12/2023 14:13 Employment Idan Eretz
Treasury sees state revenue shortfall increasing

Finance Ministry officials told the Knesset Finance Committee that tax revenues were falling even before the outbreak of war.

04/12/2023 12:56 Economy Aharon Katz

03 December 2023

Office rents in Israel stay firm - for now

Despite excess supply and falling demand, property owners are reluctant to lower prices.

03/12/2023 17:09 Real estate Anat-Daniely Lev
NIS 5b evaporate: What happened to Maytronics?

The profits of the company, still controlled by Kibbutz Yizre'el, have drained away, but analysts see the pool half full.

03/12/2023 17:02 Market Shiri Habib-Valdhorn
Apartments sold and rented

A selection of recent real estate deals in Israel including in Holon, Modi'in, Caesarea, Zichron Yaakov, Yokneam Illit and Beesheva.

03/12/2023 12:47 Real estate Nir Weiss-Vadraru
IDF hits Khan Younis as fighting resumes

Israel has called on residents of the southern Gaza Strip city to evacuate to safe areas.

03/12/2023 11:30 Politics Globes correspondent
SolarEdge to be relegated from S&P 500

This is the latest blow to the solar energy technology company's stock, after  a profit warning for the third quarter and weak guidance for the fourth.

03/12/2023 10:54 Energy Shiri Habib-Valdhorn

30 November 2023

What is the budget dispute about?

What are "coalition funds"? Are the numbers big or small? Are haredi teachers underpaid? "Globes" provides some answers.

Israeli startup GrayMatters treats PTSD with avatars

GrayMatters received US FDA approval for marketing its technology in March and after the start of the Israel-Hamas war received approval in Israel.

30/11/2023 16:43 Healthcare Gali Weinreb
Maersk diverts Israel-linked ships from Red Sea

The two vessels diverted are owned by Udi Angel and Idan Ofer's XT Group.

The Economist: Tel Aviv slips in expensive city rankings

Tel Aviv has fallen to eighth place in The Economist Intelligence Unit's (EIU) Worldwide Cost of Living rankings for 2023.

30/11/2023 13:32 Economy Globes correspondent
El Al reports Q3 growth, Q4 apprehension

El Al CEO Dina Ben-Tal Ganancia: We quickly adapted ourselves to emergency mode and made sure to maintain a stable and active flight schedule while taking care of passengers' safety and security.

Organized buyers snap up small Jerusalem apartments

53 two-room apartments averaging 49 square meters in size at an average price of NIS 3.297 million have been bought in Midtown Jerusalem.

Israel reluctant to fund hypersonic missile interceptor

Rafael has unveiled Sky Sonic to tackle Iranian hypersonic missiles, but the Ministry of Defense does not see this as a realistic threat.

29 November 2023

Epitomee slumps as Nestle nixes marketing weight loss pill

Nestlé says the trial results did not meet the full minimal terms set in the licensing agreement.

29/11/2023 19:28 Healthcare Gali Weinreb
Israel Canada has sold 120 Sde Dov apartments

The company reports it has signed 120 contracts for apartments in Tel Aviv's Sde Dov worth an overall NIS 931 million out of the 480 apartments it is building.

29/11/2023 18:10 Real estate Hilit Yanai-Levison
Saudis offer investment to Iran if it curbs proxies - report

Saudi Arabia has proposed cooperation and investment in Iran if it stops its regional proxies from turning the Israel-Hamas war into a wider conflict, "Bloomberg" reports.

29/11/2023 15:58 Politics Dean Shmuel Elmas
OECD sees weak growth in Israel in 2024

The OECD forecasts only 1.5% GDP growth in Israel in 2024 but a strong recovery in 2025.

29/11/2023 15:14 Economy Aharon Katz
First Int'l Bank reports lower profit

Net profit in the third quarter was NIS 455 million, down 2.6% from NIS 467 million in the corresponding quarter last year.

Court awards Energean full Karish North rights worth $3.4b

The three justice Israel Supreme Court panel dismissed Chevron and Delek unit NewMed Energy's petition for a share in the offshore gas field.

Ra'anana, Kfar Sava may miss out on Metro

Local objections to the project are liable to cause delay in construction of the northern section, and possibly outright cancellation.

Leumi posts highest profit among banks

Bank Leumi posted a profit of NIS 1.77 billion for the third quarter, despite a very high provision for credit losses.

Mortgage market shows signs of revival

The banks see mortgage lending totaling NIS 5-5.5 billion this month and next, assuming that the war does not escalate.

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