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25 October 2021

iDigital store Azrieli Tel Aviv Photo: Shuka Cohen Apple importer iDigital plans TASE IPO at NIS 1b valuation

Such a valuation would be triple the valuation last year when Poalim Capital Markets invested in the company and ten times the valuation when Sky acquired control in iDigital from Pitango four years ago.

25/10/2021 19:15 Retailing Aviv Levy
Shekel Photo: ASAP Creative Shekel opens week stronger

Bank Hapoalim chief economist Victor Bahar: An interest rate rise in the first half of 2022 has become a realistic scenario.

25/10/2021 15:22 Market Globes correspondent
Yaron Ben Schlusch Photo: PR US data cloud giant Snowflake opens Israel office

The company has also announced the appointment of Yaron Ben Schlusch as Israel country manager.

25/10/2021 15:03 Start ups Globes correspondent
Plus500 Court approves class action on alleged Plus500 manipulation

The Tel Aviv District Court has not accepted the Israeli online trading firm's explanation of its pause mechanism and ordered Plus500 to provide details on all pauses in the past seven years.

25/10/2021 14:06 Legal Avishai Greenzweig
Victor Bahar  credit: Inbal Marmari "BoI could raise its rate by mid-2022"

Bank Hapoalim chief economist sees growing pressure for an interest rate rise by the Bank of Israel, although not all his colleagues agree.

25/10/2021 12:45 Economy Guy Ben Simon
Tel Aviv offices  credit: Shutterstock Tel Aviv office rents widen gap

As rents in Tel Aviv rise at an almost unprecedented rate, neighboring Ramat Gan and Herzliya are behind the pace.

25/10/2021 11:03 Real estate Arik Mirovsky

24 October 2021

Alibaba Cloud mulls launching Israel operations

The Chinese tech giant is considering joining Amazon Web Services, Google, Microsoft and Oracle in Israel's fast growing data centers market.

24/10/2021 18:34 IT Assaf Gilead
Gov't cancels plan for int'l airport in Jezreel Valley

Minister of Transport Merav Michaeli: There is no dispute about the need for an overspill airport, but the decision must preserve all of Israel’s national interests.

Court orders Tel Aviv Central Bus Station closed in December 2021

The Israel Fire Service has refused to give the bus station a safety license.

24/10/2021 15:51 Real estate Shani Ashkenazi
Italy's Ariston Group buys solar hot water boiler co Chromagen

Ariston will reportedly pay NIS 115 million for Chromagen, which is owned by Kibbutz Shaar Ha'Emakim near Haifa.

AT&T opens new Tel Aviv R&D center

The Telecom giant already has 500 employees in its Airport City R&D center and is hiring 100 for its new offices in the ToHa tower and expanding activities to cloud solutions.

24/10/2021 13:43 IT Globes correspondent
El Al workers agree 300 more layoffs

The airline has also agreed only to reduce its fleet by 9 aircraft from 45 to 36, rather than by 16 aircraft as originally planned.

24/10/2021 13:23 Tourism Michal Raz-Chaimovitz
Apartments sold and rented

A selection of recent real estate projects in Herzliya, Holon, Ashdod, Petah Tikva, Yehud, Rosh Ha'ayin and Harish.

24/10/2021 12:30 Real estate Yaser Wakid

22 October 2021

Zim purchases seven new vessels for $320m

Buoyed by the global shipping boom, Zim's share price has more than tripled since its IPO in January.

Finance C'ttee approves bill for Tel Aviv congestion charge

The charge will be imposed from March 2025, one year later than originally planned.

21 October 2021

Finance C'ttee approves bill to raise women's retirement age

Under the bill, the retirement age for women in Israel will rise from 62 to 65 over eleven years.

21/10/2021 22:17 Economy Shirit Avitan Cohen
Adam Neumann back in billionaire league

With the SPAC merger of WeWork, Forbes estimates the holding of its founder and former CEO to be worth $1.6 billion.

21/10/2021 20:52 Real estate Assaf Gilead
Plan calls for opening Israel to tourists from Nov 1

If the government approves the plan, tourists will be allowed entry in accordance with their Covid-19 vaccination status.

21/10/2021 18:58 Tourism Michal Raz-Chaimovitz
New pipeline mulled as Egypt requests more Israeli gas

If it goes ahead, the $200 million new infrastructure will be land-based.

21/10/2021 18:01 Energy Guy Lieberman
Masterplan approved to nearly double size of Even Yehuda

The population of 27,000 in the south Sharon region town will increase to 46,900 if the masterplan is implemented in full.

21/10/2021 15:38 Real estate Guy Nardi
Delta Galil files for Nasdaq offering

The Israeli clothing manufacturer has filed F-1 forms with the US Securities and Exchange Commission (SEC).

21/10/2021 12:39 Market Globes correspondent
FIMI buys Ashot Ashkelon stake from Elbit Systems for $88m

Ashot Ashkelon makes parts for armored vehicles, heavy vehicles and aerospace including gears, gearboxes, transmissions, landing gear components, and engine shafts and rotating parts.

21/10/2021 11:31 Aerospace & defense Omri Cohen
UAE preparing Egyptian alternative to Israeli pipeline project

If the Eilat-Ashkelon oil pipeline agreement with the UAE is canceled due to environmental concerns, the project could be switched to Taba in Egypt.

21/10/2021 11:04 Environment Danny Zaken
Plan to import tech workers into Israel draws fierce criticism

Critics range from junior staff at tech companies and Israelis struggling to find work, to job placement agencies who even claim the plan's aim is to reduce salaries.

21/10/2021 07:29 Employment Assaf Gilead

20 October 2021

Innovid expands SPAC merger PIPE financing to $200m

The Israeli online advertising and analytics platform plans completing the SPAC merger by the end of the year and listing on the NYSE at a valuation of $1.3 billion.

20/10/2021 17:19 IT Shiri Habib-Valdhorn
Isrotel buys Sea of Galilee Hotel for NIS 225m

This will be the Isrotel chain's 21st hotel in Israel.

Israel and Saudi Arabia in advanced talks on diplomatic ties

Senior US sources as well as Israeli sources have told "Globes" that talks on ties with more Arab countries have intensified recently.

20/10/2021 15:43 Politics Danny Zaken
Consortium buys Mekorot's Ashdod desalination plant

The GES consortium is paying much more than Mekorot expected to receive for the plant, which produces a sixth of Israel's desalinated water.

20/10/2021 15:16 Market Guy Lieberman
Israeli startup AIR unveils aircraft to be used like cars

AIR ONE is an easy-to-operate, all-electric two-seater aircraft with a range of 110 miles on a single charge at speeds up to 155 miles per hour.

Waze: Traffic on Israel's roads 23% higher than pre-Covid

According to the satellite navigation company, the number of journeys on Israel's roads in the first half of this month was 23% higher than in February 2020.

East Jerusalem to have three new business zones

Hundreds of thousands of square meters of office and commercial space are planned. Bimkom deputy director Efrat Cohen-Bar: The next step is to deal with the housing shortage.

20/10/2021 11:58 Real estate Guy Nardi

19 October 2021

Comptroller: Ill-informed Israelis overpay billions in tax

The report cites tax incentives on pension savings, and on retirement, which are frequently not realized due to their complexity.

19/10/2021 17:46 Economy Eti Aflalo
Comptroller: Failure to recognize Leviathan sooner cost Israel dear

The State Comptroller's report finds that the delay in recognizing the Leviathan field by the Energy Ministry costs Israel hundreds of millions of shekels.

19/10/2021 17:00 Energy Guy Lieberman
Bank of Israel gets its hands dirty with digital currency

In its digital currency pilot program, the central bank is having to confront tricky technical, financial, and even moral questions.

Cato Networks raises $200m at $2.5b valuation

The Israeli cybersecurity company has more than doubled its valuation in less than a year.

19/10/2021 15:30 Start ups Ofir Dor
Check Point CEO Gil Shwed warns on cybersecurity bubble

In explaining his reluctance to make more acquisitions, Shwed told "Bloomberg" that the pace of growth in cybersecurity meant new firms were expanding at breakneck pace.

19/10/2021 14:47 IT Globes correspondent
Shekel gains on dollar weakness

The Bank of Israel only purchased $3.14 billion in foreign currency the third quarter of 2021, after buying $25 billion in the first half of the year.

19/10/2021 13:27 Market Globes correspondent
Telco Partner entering electricity supply

Partner has joined rival telecommunications companies Cellcom, Hot, and Bezeq in obtaining a power supply license.

19/10/2021 11:17 Energy Gad Perez
Amazon lowers threshold for free delivery to Israel

Amazon is now offering free delivery on purchases from its US website from $49.

19/10/2021 10:44 Retailing Michal Raz-Chaimovitz
Israel to bring foreign professionals to fill tech vacancies

The government will grant work permits to foreign tech students, import tech experts, and encourage Jewish tech professionals to immigrate.

18 October 2021

El Al in merger talks with Arkia

El Al has notified the TASE that initial talks are underway to buy the rival Israeli airline in an all-share deal.

18/10/2021 18:56 Tourism Michal Raz-Chaimovitz
Knesset decides local property owners will help finance Metro

Property owners within 800 meters of Metro stations will pay a 75% tax on the increased value of their real estate, according to the Knesset bill set to pass.

Global payroll co Deel raises $425m at $5.5b valuation

Deel allows companies to draw up contracts for employees in over 150 countries and pay staff and freelancers in local currency and according to local laws.

Israeli AI clinical platform Navina raises $15m

Navina solves the point-of-care data crisis with a physician-centric platform for assessment, diagnosis and care.

18/10/2021 15:20 Healthcare Globes correspondent
Don't put us to the test, tax chief warns crypto players

Israel Tax Authority director Eran Yaacov declares that anyone using cryptocurrencies to evade tax will be caught.

18/10/2021 14:58 Economy Ela Levi-Weinrib
Playtech, founded by Teddy Sagi, acquired for $3.7b

Australian gambling machine manufacturer Aristocrat Leisure is paying a 58% premium for the online software platform for gambling sites.

Knesset lifts municipal parking price cap

The main clause in the bill lifts the current maximum of NIS 6.30 per hour that municipalities can charge for parking.

Envizion unveils baby feeding tube with navigation

The company's stock price is up sharply after the announcement of what it claims is the first device of its kind for infants and premature babies.

18/10/2021 12:30 Healthcare Globes correspondent
Israel and UAE nearing free trade agreement

Israel's Ambassador to the UAE Amir Hayek told an Israeli business delegation to Abu Dhabi and local business leaders that there will soon be a regional FTA.

18/10/2021 07:10 Economy Danny Zaken
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