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23 May 2019

Shekel-dollar ASAP Creative As the shekel strengthens, will history repeat itself?

Despite a recent dip, current market conditions are very similar to those of early 2017.

23/05/2019 19:03 Economy Modi Shafrir
Wizz Air  plane photo: Shutterstock Wizz Air to launch Eilat - Vilnius flights

Wizz Air will qualify for an enlarged Israeli government subsidy of €66 per passenger flown into Israel from €60.

IBM Photo: Tamar Matsafi IBM Israel laying off dozens in storage division

IBM is reorganizing its Tel Aviv development center, which is based on the 2008 acquisition of XIV.

23/05/2019 14:10 Employment Uri Berkovitz
Yitzhak Tshuva Photo: Tamar Matsafi Centerbridge, Gallatin buy control of Phoenix from Delek

The two funds have signed a binding agreement and will pay NIS 575 million for a 32.5% stake in the Israeli insurance company.

23/05/2019 12:57 Financial services Ron Stein
Doron Aviv and Dafna Harlev Photo: Tamar Matsafi Aviv, Leny buy large Tel Aviv seafront lot

The two groups will pay NIS 250 million for the lot which has rights for a 19-floor hotel and apartment building.

23/05/2019 12:35 Real estate Shlomit Tsur
Teva Photo: Sivan Faraj Credit Suisse cuts Teva's target price again

Credit Suisse has now lowered the price to $14 per share from $18, having cut the price from $20 just three weeks ago.

Bahrain Photo: Reuters Hamad I Mohammed Top Palestinian businessmen refuse Bahrain invitation

Businessmen like Rawabi developer Bashar Masri will reportedly not attend the US initiated Bahrain workshop.

23/05/2019 09:45 Politics Dan Zaken
Saar 6 corvette near drilling platform photo: IDF spokesperson ThyssenKrupp completes first Israeli Saar 6

Top Israeli defense officials are in Kiel this week to mark completion of the first Saar 6 missile boat, "Kieler Nachrichten" reports.

22 May 2019

HotelsbyDay to open Israeli website for renting rooms hourly

The website offers hotel rooms for a few hours at a time at reduced prices for a 'quiet place to work and meet during the day.'

22/05/2019 21:10 Tourism Michal Raz-Chaimovich
Autonomous drone co Percepto raises $15m

Making drones started out as a hobby for Percepto's founders when they found that no one else made good enough drones.

Israeli cybersecurity co Hunters.AI raises $5.4m

The Tel Aviv-based company will use the funds to promote its efforts to accelerate cyber threat response and fight cybercrime.

22/05/2019 17:04 Start ups Globes correspondent
Solabia buys Israeli microalgae co Algatechnologies

The French biotech group has acquired 80% of the company based at Kibbutz Ketura near Eilat.

Israeli telematics based insurance co VOOM raises $5m

VOOM will ensure that users of mobility platforms including electric scooters and bikes can grab insurance on-the-go from their mobile devices whether they ride, fly, or sail.

Strong results as Azrieli reduces dependence on malls

Net profit rose 42% to NIS 369 million in the first quarter of 2019.

Israeli consumers besieged by wave of price rises

Municipal property taxes, water rates, and dairy and bread prices are all set to rise.

Canada's Nuvei to buy Sagi's SafeCharge for $889m

Controlling shareholder Teddy Sagi will receive $570 million for his stake in the Israeli payment solutions company.

Ceragon leases Rosh HaAyin offices from Nitsba

Ceragon will pay NIS 5 million a year for 6,000 square meters, with two five-year extension options.

22/05/2019 13:34 Real estate Shlomit Tsur
Sharp shekel depreciation gains momentum

Excellence Nessuah Investments: The shekel will rebound if the Bank of Israel does not act.

22/05/2019 11:17 Market Simon Griver
Airbnb launches Hebrew website and app

In 2018, 22,000 homes in Israel were advertised on Airbnb with the average host earning over NIS 10,000 over the year.

Zebra buys Israeli retail analytics co Profitect for $100m

Profitect has developed a product that can track and identify inventory losses in stores.

21 May 2019

Isramco to delist from Nasdaq

The Equital ownership pyramid, which has three layers, is legally required to be reduced to two layers by the end of the year.

21/05/2019 19:43 Energy Kobi Yeshayahou
Israeli SaaS platform co Torii raises $3.5m

Torii CEO: In the near future, people will not need to manage software - it will be software that manages software.

21/05/2019 19:40 Start ups Globes correspondent
Perrigo guarantees 5 years Israel operations in Yeruham

The workers in the Yeruham plant will also receive bonuses and pay hikes under the agreement signed with Perrigo's management.

21/05/2019 18:37 Healthcare Shiri Habib-Valdhorn
OECD cuts Israel's 2019 growth forecast

The OECD lowered the 3.5% forecast for Israel's economic growth to 3.1% and warns that essential measures such as tax hikes should be introduced.

21/05/2019 17:43 Economy Amiram Barkat
Dan Caesarea reopens after comprehensive renovations

The NIS 80 million renovations took eight months to complete.

21/05/2019 16:29 Tourism Michal Raz-Chaimovich
Israeli cloud security co Guardicore raises $60m

The funds will enable the company to maintain its current momentum and continue to disrupt the broader firewall and data center markets.

AI device defect detection co Veego raises $5m

Based in Ramat Gan, the Israeli company has developed artificial intelligence technology for eliminating malfunctions in the connected home.

Saudi Arabia opens its doors to Israeli Arabs

Arab graduates of Israeli universities are esteemed as professionals in the Arab world, and a window for their employment is now being opened in Saudi Arabia.

21/05/2019 13:33 Politics Dan Zaken
Len Blavatnik sells 50% Taavura stake

Leumi Partners and Phoenix have each acquired 20% stakes and the Livnat brothers, who owned the other 50%, have increased their stake to 60%.

21/05/2019 13:23 Economy Globes correspondent
Digital therapeutics co Happify teams with Sanofi

Happify combines digital therapeutics with drug treatment.

21/05/2019 12:42 Healthcare Gali Weinreb
Israeli court rules Bitcoin not a currency

The Central District Court accepted the Israel Tax Authority's position that Bitcoin is an asset, not a currency, making profits on its sale liable to capital gains tax.

Shekel weakens after BoI leaves rate unchanged

Bank of Israel: For the year to date, the shekel has strengthened by 6%.

21/05/2019 12:04 Market Simon Griver
Netanyahu asks for whole year deferral of hearing

Prime Minister Benjamin Netanyahu's lawyers claim they need the time to study the materials in the cases against him. Attorney General Avichai Mandelblit is expected to refuse the request.

21/05/2019 10:45 Politics Chen Ma'anit

20 May 2019

Israeli genealogy co MyHeritage to launch DNA health test

The test provides a new dimension of genetic insight with comprehensive health reports that can empower future health and lifestyle choices.

Jared Kushner: Palestinians deserve to live in dignity

A spokesperson for President Trump's son-in-law and senior advisor has told "Globes" that through economic vision, the main political issues can be solved.

20/05/2019 18:45 Politics Tal Schneider
Free Jaffa shuttle after Jerusalem Blvd closes

The Yafoit minibus service will begin operating on Friday, using minibuses at a frequency of every 10 minutes.

Castro in talks with Amazon on online sales

The Israeli retail fashion chain already operates its own sales website but is looking to expand online revenue by using Amazon's platform.

20/05/2019 17:55 Retailing Shany Moses
5 Chinese cos to bid for TA light rail tunnels

Work is scheduled to begin at the start of 2020 and will include digging a 4.6 kilometer tunnel and building three underground stations.

Mizrahi Tefahot Q1 profit up, despite US fine

Mizrahi Tefahot Bank is not distributing a dividend, but expects to distribute one next quarter.

20/05/2019 16:35 Financial services Ron Stein
Vincent Tchenguiz to invest $7m in BioProtect

BioProtect's product protects healthy tissue from radiation during cancer treatment.

20/05/2019 16:28 Healthcare Gali Weinreb
BoI keeps rate unchanged due to low inflation, strong shekel

The Bank of Israel Monetary Committee has left the June interest rate unchanged at 0.25%.

20/05/2019 16:17 Economy Amiram Barkat
Africa-Israel bondholders choose Keystone for Road 6 stake

The bond trustees will instruct the Africa-Israel board of directors to sell the company's holdings in the highway's operator for NIS 182 million.

Israeli cybersecurity company Siemplify raises $30m

Siemplify will use these funds for expanding its marketing operations and further developing its security orchestration, automation and response (SOAR) platform.

20/05/2019 14:02 Start ups Yasmin Yablonko
Better Q1 profitability boosts Strauss

Although its revenue dipped 3%, Strauss improved its gross and operating profit margins.

20/05/2019 13:07 Retailing Aviv Levy
Giant Swiss sports retailer Intersport in talks with Azrieli

In the footsteps of Decathlon, Intersport is in talks to open sports goods stores in Azrieli Group's malls in Israel.

20/05/2019 12:11 Real estate Shany Moses
Easier user rules prospect boosts cannabis stocks

Deputy Minister of Health Yaakov Litzman announced that a license would no longer be required to use cannabis for certain indications.

20/05/2019 11:16 Healthcare Gali Weinreb
aMoon expands investment in BiondVax

The life sciences venture capital fund could become the controlling shareholder in universal flu vaccine developer Biondvax after the company's rights issue.

20/05/2019 10:05 Healthcare Gali Weinreb

19 May 2019

Four killed as crane collapses in Yavne

20 people have been killed and 70 injured in building site accidents in Israel since the start of the year.

Israeli diagnostics co G Medical set for Nasdaq offering

The Israeli company has developed two products: a heart diagnostic device connected to a smartphone and a sticker for monitoring patients in hospital beds

19/05/2019 17:08 Healthcare Shiri Habib-Valdhorn
ElectReon to build smart road in Sweden

A 1.6-kilometer electrified road will be built in the project as part of a 4.1-kilometer highway between the airport and Visby on the island of Gotland.

Apartments sold and rented

A selection of recent real estate deals in Israel including in Netanya, Bat Yam, Ashdod and Harish.

Wix buys brand promotion agency Gefen Team

The acquisition of Tel Aviv-based Gefen Team will push forward Wix's vision of becoming one of the world's top and best-loved brands.

19/05/2019 12:45 IT Shiri Habib-Valdhorn
S&P: Teva faces greatest liability in US antitrust suit

S&P Global is not changing its rating for Teva's debt at present.

19/05/2019 11:22 Healthcare Shiri Habib-Valdhorn
Comperes beat performers in Eurovision final ratings

45% of Israeli households watched the explanation of the voting method. The much anticipated performance by Madonna reached a rating of just 34.3%.

17 May 2019

Indian Navy, Israel Aerospace conduct trial of SAM missile

The Indian Navy said that it had, "achieved a significant milestone in enhancing its anti-air warfare capability."

16 May 2019

Fiverr revenue growing at over 40%

A public prospectus filed in advance of a Wall Street IPO shows the freelancer platform growing rapidly but still not profitable.

16/05/2019 20:07 IT Omri Zerachovitz
Alstom: Light rail tender withdrawal not political

Alstom cites differences of opinion with its Dan and Electra, its consortium partners.

3D imaging co MultiVu completes $7m financing round

The Israeli startup's 3D solutions need only one sensor.

16/05/2019 18:37 Start ups Yasmin Yablonko
Wix dips after profit miss

The Israeli website builder company reported its first-ever non-GAAP net profit in the first quarter, but fell short of market estimates.

16/05/2019 17:40 IT Shiri Habib-Valdhorn
NSO owner: We'll do all we can to protect human rights

Novalpina Capital, which controls Israeli surveillance software company NSO, has told Amnesty International it will ensure that NSO's technology "is used for the purpose for which it is intended."

16/05/2019 16:51 Politics Yasmin Yablonko
NICE Systems reports strong Q1, raises guidance

Revenue and earnings per share rose 12% and 58% respectively in the first quarter.

16/05/2019 14:26 IT Globes correspondent
Israeli economy grew at 5.2% in Q1 2019

Economic growth was boosted by an exceptionally large rise in vehicle imports, the Central Bureau of Statistics reports.

16/05/2019 13:46 Economy Amiram Barkat
Discount Bank profit up 27% in Q1

The bank's credit portfolio rose 3.3% to NIS 170 billion.

16/05/2019 13:38 Financial services Ron Stein
Proportion of Israeli workforce in high tech to rise sharply

Aaron Institute for Economic Policy researchers predict that the proportion will rise from 9% at present to 15% by 2030.

16/05/2019 12:35 Economy Omri Zerachovitz
Bombardier buys Stratasys 3D printer for train parts

The German manufacturer will produce final end-use rail parts, as well as manufacturing tools and prototypes for trains and trams.

16/05/2019 11:32 IT Globes correspondent
Warren Buffett loses nearly $300m on Teva

With 43 million shares in the Israeli pharmaceutical company, Berkshire Hathaway has lost $283 million on its Teva stake this year.

Hailo launches AI deep learning chip to challenge Intel, Nvidia

Israeli startup Hailo Technologies strong, cheap, versatile, and energy-saving AI processors empower autonomous cars, security cameras, drones, AR/VR platforms and other devices.

16/05/2019 09:16 Start ups Uri Berkovitz
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