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29 May 2022

New housing in Ashkelon Photo: Shutterstock Yuri Dondish Mortgage risk rises

Analysis by the Bank of Israel finds that loan-to-value and payment-to-income were at peak levels for mortgages taken in April.

26 May 2022

Details emerge of proposed driving tax on electric cars

Under current Ministry of Finance proposals, the tax will average NIS 3,000-4,000 annually.

IBI raising $200m digital infrastructure fund

IBI and Ziv Sapir's Volcano fund recently finished raising a NIS 1 billion fund for lending to US real estate companies.

26/05/2022 19:54 IT Hezi Sternlicht
Viola Credit closes $700m fintech startup fund

The funds have been raised from Israeli institutional investors including banks, insurance companies and investment houses.

26/05/2022 15:31 Financial services Ofir Dor
Brenmiller Energy loses 15% on Nasdaq debut

The Israeli thermal energy storage company continues to be traded on the Tel Aviv Stock Exchange.

26/05/2022 12:14 Energy Globes correspondent
Liora Ofer's Melisron buys 50% stake in Aviv

The investment will enable the income producing real estate company to diversify into residential development and construction.

Sequoia warns on long crisis and slow recovery

The US venture capital firm, which has extensive Israeli investments, has told startups to increase revenue and profits at the expense of market expansion.

26/05/2022 10:03 Economy Assaf Gilead

25 May 2022

Warner Music launches in Israel

Warner Music Israel will market and promote WMG’s international star artists as well as local stars like Noga Erez and Noa Kirel.

Teva reaches opioid settlement with West Virginia

Teva will pay West Virginia $75 million over 15 years and provide opioid overdose treatments worth $27 million over 10 years.

25/05/2022 18:15 Healthcare Globes correspondent
Blockchain co Starkware raises $100m at $8b valuation

The Israeli company, which provides a cryptographic compression service, has quadrupled its valuation in the past six months.

25/05/2022 17:17 Start ups Assaf Gilead
Israel to tackle 700,000 passport backlog

The Population and Immigration Authority has introduced new methods to shorten waiting times.

25/05/2022 16:50 Tourism Shirit Avitan Cohen
Israeli precision drug development co Neuralight raises $25m

Neuralight seeks to improve the design of neurological clinical trials, increase the probability of success for novel neurological therapeutics, as part of a new era of precision medicine for neurology.

25/05/2022 15:55 Healthcare Globes correspondent
Ashtrom, Electra to build Kikar Hamedina project

The two companies will undertake work worth NIS 1.4 billion including three spiral-shaped 40-floor towers.

25/05/2022 15:13 Real estate Yuval Nisani
Akirov floats Swiss activities on Zurich stock exchange

Alrov raised 183 million Swiss francs, which will rise to 203 million Swiss francs if the underwriters fully exercise their options.

25/05/2022 14:04 Real estate Hezi Sternlicht
Amdocs buys UK SaaS co MYCOM OSI for $188m

The Israeli IT solutions company said that the acquisition would expand its portfolio with comprehensive solutions for managing and optimizing network resources and the services on it.

Canada's ClearPier buys Israeli advertising analytics co PubPlus

The price is $60 million. PubPlus CEO Gil Bar-Tur: This is the first of five planned acquisitions by ClearPier, aimed at turning it into a public company.

25/05/2022 12:05 Mergers & acquisitions Ofir Dor
Strauss Group's Q1 profit plunges 79%

Salmonella outbreaks in Israel and the US hit the food company hard. CEO Giora Bardea: The resilience of our brands, finances and people will enable us to return to growth in the near term.

24 May 2022

Delek profit jumps as energy prices soar

The company reported a net profit of NIS 2.5 billion, a nine-fold increase over the corresponding quarter of last year.

24/05/2022 19:08 Energy Hezi Sternlicht
Data reliability co Monte Carlo raises $135m at $1.6b valuation

The Israeli-US company has developed product functionalities to help data teams achieve more reliable data.

24/05/2022 17:37 Start ups Globes correspondent
Delek to develop Cypriot gas field without Israel's consent

Delek Group's NewMed Energy has taken Israel's Energy Ministry by surprise by unilaterally announcing plans for the disputed Aphrodite field.

24/05/2022 16:44 Energy Danny Zaken
Cybersecurity co Semperis raises $200m

The Israeli-US company enables enterprises to significantly speed up the amount of time required to recover from a cyberattack.

24/05/2022 13:54 Start ups Ofir Dor
Fiber optic deployment boosts Bezeq results

The Israeli telecom reported adjusted net profit growth of 7.7% in the first quarter of 2022.

24/05/2022 13:24 Market Gad Perez
Mizrahi Tefahot suspends dividend despite record profit

Despite a 71% increase in profit, the Israel bank will not distribute a dividend due to the accelerated growth in credit to the public.

Israel's debt: GDP ratio falls faster than expected

Revised Finance Ministry figures show a substantial decline in 2021 from the 2020 Covid-related peak.

24/05/2022 12:32 Economy Oren Dori
Rosen and Touchmair freeze Norstar takeover bid

Stock market declines and interest rate rises have led Barak Rosen and Asaf Touchmair's Israel Canada to halt negotiations.

24/05/2022 11:28 Real estate Hezi Sternlicht
Elbit Systems dips as profit disappoints

Stock-based compensation cut into the defense company's bottom line. CEO Bezhalel Machlis: Elbit is well positioned to benefit from acceleration in defense budget growth.

Leumi posts NIS 1.6b Q1 profit; declares reduced dividend

Unlike Bank Hapoalim, Bank Leumi will pay a divided on its first quarter profit, but only 20%, to meet capital adequacy requirements.

23 May 2022

AI IVF co Fairtility raises $15m to improve pregnancy rates

The Israeli company uses AI and big-data to improve IVF outcomes with technology that allows accurate and early, data-driven embryo quality assessment.

23/05/2022 17:58 Healthcare Globes correspondent
El Al to move US HQ from New York to Miami

The Israeli airline said that moving the US head office to Miami will save the airline $500,000 annually.

23/05/2022 17:23 Tourism Michal Raz-Chaimovitz
Avi Gabbay appointed Partner CEO

Gabbay is part of the group that bought control of the Israeli telecom from Hutchison for $300 million.

23/05/2022 16:45 Market Gad Perez
BoI hikes rate for second successive month

The Bank of Israel Monetary Committee has decided on an interest rate rise of 0.4% - a more aggressive rise than it had previously indicated it would implement.

23/05/2022 16:10 Economy Guy Ben Simon
Solegreen to buy Tadiran energy storage systems for $130m

Solegreen will buy energy storage systems from Tadiran Group subsidiary Aviem for an overall supply of up to about 600 megawatt hours.

23/05/2022 15:45 Energy Globes correspondent
eToro SPAC merger likely to be canceled

The Israeli online trading platform could raise up to $690 million in a private financing round, probably at well below the $8.8 billion valuation of the planned merger.

BeyondMinds shuts down, lays off 65

The Israeli enterprise AI solutions startup is closing after advanced talks to sell the company to a tech giant broke down, CEO Roey Mechrez told "Globes."

23/05/2022 13:19 Employment Assaf Gilead
Asset sales boost Discount Bank's Q1 profit

Sales of two building sin Tel Aviv plus growth in the credit portfolio helped bring the bank's firts quarter profit to NIS 983 million.

Hapoalim posts NIS 1.65b Q1 profit but still no dividend

Because of rapid credit growth, requiring a high capital allocation, the bank has decided not to declare a dividend for the second quarter in succession.

Ghaida Rinawie Zoabi returns to coalition fold

The Meretz MK's rapprochement with Yair Lapid will avert immediate opposition moves to dissolve the Knesset.

22 May 2022

Regulator approves WeSure takeover of Ayalon

After Ayalon complied with the Concentration Law and WeSure's owners received a control permit, the NIS 463 million deal can be completed.

Ministerial c'ttee approves plans for 2 Tel Aviv Metro lines

The inter-ministerial committee has approved the M1 line southern section and the M3 line.

Apartments sold and rented

A selection of recent real estate deals in Israel including in Jerusalem, Tel Aviv, Bat Yam, Rishon Lezion, Pardes Hanna-Karkur, Nahariya, and Sderot.

22/05/2022 13:23 Real estate Yaser Wakid
Rani Zim sells Office Depot to UMI

The deal values Office Depot Israel at NIS 80 million, of which Zim will receive NIS 35 million, as the chain has NIS 45 million debt.

19 May 2022

Israeli milk alternatives startup Imagindairy raises $15m

The raise, led by Target Global, is an extension of the company's seed round in which it raised $13 million last November.

National Plan change calls for much denser Israeli cities

They may seem crowded, but Tel Aviv and Jerusalem are actually far less densely populated than Athens, Paris, and Barcelona.

19/05/2022 19:30 Real estate Yuval Nisani
MK Rinawie Zoabi deals further blow to tottering coalition

Ghaida Rinawie Zoabi of Meretz has resigned from the coalition, leaving it in a minority in the Knesset.

19/05/2022 17:45 Politics Shirit Avitan Cohen
IAI Q1 net profit jumps 86%

First quarter sales grew by 18% to $1.2 billion, and the company's orders backlog reached $14 billion.

19/05/2022 11:17 Aerospace & defense Danny Zaken
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