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03 March 2024

El Al  credit: Dani Sadeh Even El Al didn't expect such a war windfall

As foreign airlines deserted Israel, El Al took full advantage. Can it maintain its newfound profitability?

03/03/2024 13:14 Tourism Netanel Ariel
Dori Nawi credit: Eyal Izhar Nawi Brothers Group seeks controlling stake in Isracard

The Israeli nonbanking credit finance company is to submit a request to the Bank of Israel to acquire control of the credit card company.

29 February 2024

Israel-Guatemala free trade pact comes into force

Among other things, Guatemala will cut import duties on Israeli  drugs, cosmetics, plastics, and medical equipment.

Survey finds tech investors undeterred by war

The survey by Startup Snapshot among Israeli and overseas investors found that 85% have no plans to reduce investment in Israel in 2024.

29/02/2024 21:15 Start ups Galit Hatan
Foreign airlines' return seen moderating fares from Israel

Several airlines are due to resume Israel flights in the coming month, but seat supply is not expected to match last year.

29/02/2024 19:10 Tourism Stav Livne
Energean signs $2b gas contract with Eshkol power station

The contract is for the supply of up to 12 BCM of gas over fifteen years.

29/02/2024 17:38 Energy Dean Shmuel Elmas
PFH completes NIS 80m investment in Carrefour Israel

This week Carrefour opened three new stores in Israel in Tel Aviv, Givatayim and Ramla, bringing the total number of Carrefour stores in Israel to 86.

29/02/2024 16:23 Retailing Shira Sapir
Over 100 Palestinians killed in Gaza stampede

The IDF Spokesperson said that the Palestinians were killed during violent looting of an aid truck.

29/02/2024 15:18 Politics Globes correspondent
Amir brothers complete Shufersal takeover

Chairman Itzik Abercohen is expected to receive a golden parachute payment of NIS 8 million, while CEO Ori Watermann will receive NIS 6 million.

29/02/2024 13:22 Retailing Hezi Sternlicht
Shekel gains to strongest for 9-months against dollar

Economists believe that the strengthening of the shekel stems from domestic matters.

29/02/2024 11:38 Market Aharon Katz
"Newsweek" lists Israeli hospital in world's best ten

The US magazine has named Sheba Medical Center in Tel Hashomer as the world's ninth best hospital.

29/02/2024 10:55 Healthcare Gali Weinreb
El Al profit jumps 370% in wake of war

With almost all foreign airlines halting flights to and from Israel in the fourth quarter of 2023, El Al had a monopoly on many of the routes to and from Tel Aviv.

29/02/2024 10:08 Tourism Netanel Ariel
Houthis expose vulnerability of int'l Internet connections

Following the Houthi attacks on submarine cables in the Red Sea, "Globes" investigates the implications for Israeli and international communications.

29/02/2024 09:20 Politics Assaf Gilead

28 February 2024

Castro to expand to US to market Yves Rocher

The Israeli fashion group has been granted exclusive rights to the French cosmetics brand in the US.

28/02/2024 18:17 Retailing Shira Sapir
Gasoline prices to rise for third straight month

Since the start of 2024, the price of a liter of 95 octanes gasoline has risen by NIS 0.57.

28/02/2024 16:54 Energy Oren Dori
Shekel surges after rate left unchanged

The shekel is gaining strongly after the Bank of Israel left the interest rate unchanged at 4.5% on Monday despite the expectations of many that there would be a 0.25% cut.

28/02/2024 16:36 Market Globes correspondent
Israeli underground mapping co Exodigo raises $75m

The company's technology aims to locate everything underground that could complicate construction, and remove obstacles that can be found before work begins.

28/02/2024 16:01 Real estate Assaf Gilead
Gov't collects record gas royalties in 2023

The rise in royalties paid by the gas companies last year stemmed mainly from larger exports to Egypt and Jordan.

28/02/2024 15:33 Economy Dean Shmuel Elmas
OrCam to spin off hearing activity ahead of IPO

The Israeli company, founded by Amnon Shashua and Ziv Aviram, plans a Wall Street flotation for its profitable visual assistance devices and is cutting 50 employees.

28/02/2024 13:44 Start ups Assaf Gilead
Local election turnout falls to historical low

Excluding army votes, the voter turnout in Israel's local elections was under 50%. Ron Huldai held Tel Aviv; Moshe Lion romped home in Jerusalem; Einat Kalisch-Rotem slumped to defeat in Haifa.

28/02/2024 10:19 Politics Idan Eretz

26 February 2024

Israel's Wolt couriers await court ruling on job status

Israel's National Labor Court is set to rule on whether the country's Wolt couriers are employees or self-employed.

26/02/2024 21:20 Employment Nitsan Shafir
FDA approves X-trodes monitoring patch

The product can measure brain and heart activity and many other physiological signs.

26/02/2024 18:07 Healthcare Gali Weinreb
Bank of Israel keeps interest rate unchanged

The Bank of Israel warns that there are still a number of risks of a potential acceleration in inflation.

26/02/2024 16:15 Market Maya Levin
Guron leaves Bezeq with growing investor interest

Bezeq underperformed the main TASE indices during Ran Guron's tenure as CEO, but Barclays now targets a share price 44% above market.

26/02/2024 16:08 Market Shiri Habib-Valdhorn
Houthis hit submarine communications cables

"Globes" has learned that four submarine communications cables have been damaged in the Red Sea between Jeddah in Saudi Arabia and Djibouti in East Africa.

26/02/2024 15:31 Politics Assaf Gilead
New immigrants will need to report income and assets abroad

Although new immigrants and returning Israelis will be required to report, the tax exemption on income outside of Israel will remain.

26/02/2024 14:56 Legal Ela Levi-Weinrib
Israel's emigration rate jumps as it learns to count

The Central Bureau of Statistics has decided that Israelis who pay short annual visits are not residents, lopping 150,000 off the population figures.

26/02/2024 13:20 Economy Dror Marmor
Elbit Systems wins $600m Australian Army contract

The five-year contract is for advanced protection, fighting capabilities and sensors suite for the Australian Army's Redback Infantry Fighting Vehicles.

Smotrich snags further NIS 170m coalition funds

Half the additional sum, which will come out of the budget reserve, will go to Orit Strook's Ministry of Settlements and National Missions.

26/02/2024 11:24 Economy Oren Dori

25 February 2024

Goldman Sachs sees shekel strengthening

The US investment bank also expects the Bank of Israel to cut the interest rate tomorrow from 4.5% to 4.25%.

25/02/2024 18:23 Market Aharon Katz
Israel's car theft plague returns

Thefts are back to pre-war levels and more, with insurance premiums rising again accordingly.

Brave developers winning land tenders at bargain prices

With the real estate market in crisis, some housing developers are seizing opportunities with very low bids for Israel Land Authority tenders.

25/02/2024 14:49 Real estate Yuval Nisani
Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Netanya, Rehovot, Gedera, Ashdod and Akko.

25/02/2024 13:19 Real estate Nir Weiss-Vadraru
Passage from India: Israel seeks workers to replace Palestinians

With Palestinians barred from Israel, the construction industry is looking to India to fill the gap, but the regulatory and logistical obstacles are formidable.

25/02/2024 12:23 Real estate Yuval Nisani
Ran Guron steps down as Bezeq CEO

Guron has been in the post for two years, after previously managing all of Bezeq's subsidiaries.

25/02/2024 11:11 Market Globes correspondent

22 February 2024

Gov't pay 50% higher than in private sector

Employees in government ministries earned NIS 18,029 monthly on average in 2022, while the national average wage was NIS 12,120.

22/02/2024 21:56 Economy Oren Dori
World Bank warns on dire state of Palestinian economy

The war in the Gaza Strip has hit the economy of the West Bank hard as well, leaving the Palestinian Authority in "a spiralling fiscal crisis."

Nielsen to close Israel development center

The US information, data and market measurement firm plans transferring its development operations to India, "Globes" has learned.

Rafael unit mulls setting up Ukraine anti-tank missile plant - report

Dynamite Nobel Defense (DND) is mulling setting up a factory in Ukraine to manufacture the German Panzerfaust 3 anti-tank missile, the German Hartpunkt website reports.

Elbit Systems unveils Hermes 650 Spark tactical drone

The UAS can carry up to 260 kilograms and operate with a range of up to 300 kilometers for 24 hours.

18,500 new homes approved for far north Tel Aviv

Ramat Hasharon opposes the plan for the South Glilot area of Tel Aviv.

22/02/2024 10:38 Real estate Hilit Yanai-Levison
Intel Foundry launch poses challenge for Israel operations

Intel CEO Pat Gelsinger's radical plan to separate development and production will provide new opportunities for activities in Israel.

22/02/2024 09:46 IT Assaf Gilead, San Jose

21 February 2024

Tidhar to build 45-floor tower in Diamond Exchange district

Tidhar Group has received approval from the Tel Aviv District Planning and Building Committee to build a 45-floor high-rise office tower at 17 Abba Hillel Street.

Wix ends 2023 with first-ever GAAP net profit

The Israeli website building platform company is two years ahead of the target it set for itself.

21/02/2024 16:49 IT Shiri Habib-Valdhorn
Greater Tel Aviv light rail usage disappoints

NTA projected 238,00 journeys daily for the Red Line, but in the first six months of operation passenger numbers were far lower.

Israeli visual generative AI co BRIA raises $24m

BRIA allows companies to tailor their visual requirements and let developers seamlessly integrate generative AI capabilities into any existing product, solution, or system.

21/02/2024 15:03 Start ups Globes correspondent
Alstom consortium wins Haifa-Nazareth light rail tender

Alstom, Electra and Minrav will build and operate the 41 kilometer line with 20 stations.

Bank of Israel could cut rate again next week

With inflation falling, estimates have changed and more and more economists believe we will see a further interest rate cut this month.

21/02/2024 12:57 Economy Aharon Katz
France seeks to expedite India-Middle East-Europe corridor

The project, which includes Israel, is partly meant to counter China's "Belt and Road" program and the Russia-India "North-South" corridor via Iran.

US-based Ibex Investors raises $106m fourth Israel fund

Ibex founder Justin Borus: Despite the ongoing war our LPs recognize the opportunity to make outsized returns precisely from opportunities such as these.

21/02/2024 10:11 Start ups Meytal Vaizberg
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