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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.

Tel Aviv Metro Credit: Shutterstock Plans for 2 Tel Aviv Metro lines approved by ministerial c'ttee

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

Israeli apartments Photo: Shutterstock 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  credit: Eyal Izhar 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

18 May 2022

Actelis Networks' share price halves after Nasdaq IPO

Actelis Networks provides network solutions designed to make communications faster, safer and more efficient for IoT applications.

18/05/2022 19:47 IT Shiri Habib-Valdhorn
ZIM keeps posting record profits

CEO Eli Glickman: Since our flotation just a year and four months ago we have distributed dividends that are fifteen times the amount we raised.

Higher fuel prices offset surging El Al sales

El Al's revenue jumped 146% in the first quarter of 2022, but it posted a net loss of $66 million.

18/05/2022 12:47 Tourism Michal Raz-Chaimovitz
Unit Finance reveals $100m raise at $1.2b valuation

The Israeli-US embedded finance company closed the round before the valuation bubble began to burst.

18/05/2022 11:42 Financial services Assaf Gilead

17 May 2022

Freelance developer network A.Team raises $55m

The company, founded in 2019, reports revenue already running at $42 million annually, and doubling every quarter.

17/05/2022 20:27 Start ups Ofir Dor
Property & Building seeks loan as HSBC Tower sale falls through

Property & Building needs to finance its purchase of Aaron Frenkel's 37.2% stake in Bayside.

17/05/2022 19:23 Real estate Hezi Sternlicht
Deliveries startup Avo shuts down Israel operations

Most of the company's employees in Israel are being laid off, while US operations are being cut back.

17/05/2022 16:58 Start ups Ofir Dor
Bank of Israel seen acting aggressively on interest rate

Prico CEO Yossi Fraiman: The expectation of higher rates is  strengthening the shekel, and will cool demand in the mortgage market.

17/05/2022 12:48 Economy Globes correspondent
Knesset passes bill giving parents extra tax credits

The bill passed with the support of the Joint Arab List after opposition members said they would vote against all government legislation.

17/05/2022 11:53 Economy Shirit Avitan Cohen

16 May 2022

Investors unimpressed as Q1 beats analysts

The company's share price fell sharply in early trading, and is now 70% below its IPO price.

16/05/2022 19:42 IT Shiri Habib-Valdhorn
Transport planning co Optibus raises $100m at $1.3b valuation

Co-founder and CEO Amos Haggiag: It wasn't easy to get the valuation we wanted.

Israel's GDP shrinks

According to initial estimates, GDP fell by an annualized 1.6% in the first quarter of this year in comparison with the previous quarter.

16/05/2022 13:52 Economy Guy Ben Simon
Wix's loss widens in first quarter

The company plans to reach free cash flow of 20% of revenue by 2025. CEO Avishai Abraham: We're concentrating on what we can control.

16/05/2022 13:24 IT Shiri Habib-Valdhorn
Ministry: Salmonella in Tnuva milk powder poses no health risk

The Ministry of Health has confirmed that salmonella was present in a batch of Tnuva milk powder, but says the product was not sold to the public.

16/05/2022 11:24 Healthcare Shira Sapir

15 May 2022

CPI up 0.8% in April

Inflation for the twelve months to the end of April was 4%.

15/05/2022 18:46 Economy Guy Ben Simon
Strategic agreement with GE Healthcare boosts Pulsenmore

GE Healthcare will invest up to $50 million in the Israeli home ultrasound devices company and will distribute pregnancy monitoring products.

15/05/2022 17:19 Healthcare Gali Weinreb
Mortgage lending falls back

The total of new mortgages in April was 22% down on March, but still relatively high for the month of the Passover holiday.

ElectReon to charge Electra Afikim buses

The NIS 6.5 million project in Rosh Ha'ayin will enable public transport company Electra Afikim to charge 30 buses 24 hours a day.

TASE up strongly at opening; Shufersal jumps

The rises in Tel Aviv follow strong rises on US markets on Friday.

15/05/2022 11:11 Market Globes correspondent

12 May 2022

New home purchase stats indicate buying frenzy may be abating

The number of new apartments sold has declined for the fourth successive month, and the time taken to sell them has lengthened.

12/05/2022 21:04 Real estate Arik Mirovsky
Nice Systems beats estimates, raises guidance

The technology company now sees non-GAAP EPS for 2022 of $7.25-7.45, which compares with previous guidance $7.07-7.27.

12/05/2022 20:08 IT Shiri Habib-Valdhorn
Shai Agassi makes autotech comeback with Israeli LiDAR co

Agassi is executive chairperson of LiDAR developer Makalu Optics of Rehovot.

Strauss sees salmonella affair lopping one third off profit

Strauss Group estimates that the product recall and the shutdown of its Elite factory will reduce profit by NIS 170-230 million in 2022.

12/05/2022 16:58 Basic industries Shira Sapir
CyberArk launches corporate VC fund

CyberArk Ventures has made three initial investments in cybersecurity startups.

12/05/2022 16:48 Start ups Shiri Habib-Valdhorn
Bezeq names Ran Guron CEO

Guron has headed Bezeq subsidiaries Yes, Bezeq International and Pelephone for the past six years.

12/05/2022 12:06 Market Gad Perez
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