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28 May 2020

Marius Nacht, photo: Tamar Matsafi Marius Nacht steps down as Check Point chairman

The Israeli cybersecurity company's cofounder will be replaced by Jerry Ungerman.

28/05/2020 07:02 IT Globes correspondent

27 May 2020

Israeli precision irrigation co Saturas raises $3m

The company has developed an advanced decision support system for precision irrigation based on its miniature stem-water potential (SWP) sensor.

Kinneret falls despite late May rains

The level of the freshwater lake is currently 14 centimeters from its maximum level of 208.80 meters below sea level, the Israel Water Authority reports.

27/05/2020 17:58 Water Globes correspondent
Shufersal profit up 88% in Q1

Israel's largest retail chain was boosted by consumer spending on food and household goods due to the coronavirus crisis.

27/05/2020 17:34 Retailing Shany Moses
Gabay to build 378 homes in Tel Aviv's Neot Afeka

The urban renewal project along Mivtza Kadesh Street will see 120 apartments demolished and replaced by 3-5 room apartments.

27/05/2020 16:38 Real estate Guy Nardi
El Al sells Maman stake for $15.4m

In a bid to improve liquidity, El Al has sold its 25% stake in Maman, which provides cargo and logistics services to Ben Gurion airport.

27/05/2020 15:29 Tourism Omri Cohen
IEC chairman welcomes Chinese power station bid

China Harbor's involvement in the consortium bidding for Ramat Hovav will be another test of Israeli policy, following US pressure to distance itself from China.

27/05/2020 13:50 Energy Amiram Barkat
Fiverr files to raise $115m in secondary NYSE offering

The Israeli freelance services platform has seen its share price triple since its Wall Street IPO last June.

27/05/2020 12:39 IT Shiri Habib-Valdhorn
IAI presents improving profitability

Israel Aerospace Industries tripled its first quarter operating profit, although profit remains low in relation to sales.

Discount Bank jumps on Q1 results

The bank's credit loss expense soared 365%, but it still posted a NIS 279 million quarterly profit.

Defense Ministry wants China excluded from Israeli 5G - report

A bar on Chinese firms participating in telecommunications infrastructure has implications for Hutchison's stake in Partner.

27/05/2020 10:59 Market Gad Perez
Leumi posts NIS 232m Q1 loss

Bank Leumi's provisions for the effects of the coronavirus pandemic fell entirely in the first quarter.

27/05/2020 10:08 Financial services Ron Stein

26 May 2020

NIS 7,500 grant for each employee recalled from furlough

Israeli employers will be entitled to Finance Ministry grants for bringing employees back from unpaid leave, as part of the plan to reduce unemployment.

26/05/2020 20:21 Economy Amiram Barkat
Mortgage taking in Israel remained high in April

Mortgages worth $5 billion were taken in April, the Bank of Israel reports.

Mitsubishi UFJ invests $20m in B2B payment co Fundbox

MUFG Innovation Partners has tripled its investment in Fundbox’s Series C round, bringing total equity funding in the round to almost $200 million.

Elbit reports stronger revenue, profit, record backlog

The Covid-19 crisis had no effect on the Israeli defense electronics company in the first quarter.

Shekel stronger despite shrinking economy

The Israeli economy might have contracted 7.1% in the first quarter but the Bank of Israel sees it bouncing back more quickly than previously thought.

26/05/2020 14:59 Market Globes correspondent
AI weed spraying co Greeneye Technology raises $7m

The Israeli company is developing a platform using artificial intelligence to accurately detect and spray weeds in real-time.

26/05/2020 14:00 Start ups Globes correspondent
IDE wins Sorek 2 desalination tender amid US pressure

Israel's IDE will build the world's largest seawater desalination plant after the Trump administration let it be known it did not want China's Hutchison to win the project.

26/05/2020 13:12 Water Amiram Barkat
BuyMe founders make NIS 81m exit

Mayer Group unit Teleclal, which already holds over 70% of BuyMe, is buying out the stakes of Micha Berkuz, Shai Darin, and Tal Zur.

26/05/2020 11:59 Start ups Shany Moses
El Al CEO warns on future after worker violence

"The threshold condition for obtaining a bank loan with a state guarantee is the signing of a labor agreement."

26/05/2020 10:46 Tourism Michal Raz-Chaimovich

25 May 2020

Cyberstarts raises $100m 2nd Israel VC fund

The firm was founded in 2018 by Gili Raanan. Lior Simon has now joined as a partner.

25/05/2020 22:10 Start ups Omri Zerachovitz
Foreign students to be allowed into Israel

Israel is relaxing the ban on entry for non-Israeli passport holders for university and yeshiva students who want to return to Israel to complete their studies.

Israel's tourist industry hopes for border relaxation in July

In the first stage, international travel will likely be permitted through bilateral agreements with countries like Cyprus, where Covid-19 morbidity was low.

25/05/2020 18:26 Tourism Michal Raz-Chaimovich
BoI leaves rate unchanged, improves 2020 forecast

The Bank of Israel research department sees the economy contracting 4.5% this year but growing 5.3% next year.

25/05/2020 16:26 Economy Guy Ben Simon
Noy Fund buys Delek's Karish, Tanin royalties

Delek has signed an agreement to sell all its rights to royalties from the Karish and Tanin offshore gas fields to the Noy Fund for NIS 318 million.

25/05/2020 15:57 Energy Omri Cohen
E-scooter share co Wind to offer deliveries

In the coronavirus-hit economy, deliveries have become a boom business.

Israel's economy contracted at 7.1% in Q1

The Israeli economy was hit hard by the coronavirus crisis in the first quarter of 2020, the Central Bureau of Statistics reports.

25/05/2020 13:47 Economy Amiram Barkat
IEC raises NIS 1b from institutions

IEC CEO Ofer Bloch: Even at a time of global crisis, investors were not deterred, and injected high demand for the offering.

25/05/2020 10:06 Energy Amiram Barkat

24 May 2020

Israel Railways restart postponed to June 8

Israel Railways will resume full operations from June 8 while buses can carry 75% of their passenger capacity from May 28.

Bank of Israel Governor warns against tax hikes

Prof. Amir Yaron told the cabinet of his support for a wider deficit including grants and credit guarantees to open businesses and reduce unemployment.

24/05/2020 19:26 Economy Amiram Barkat
Israeli apartment rents back on the rise

Despite the Covid-19 crisis, rental prices have risen over the past year in Tel Aviv, Jerusalem and most other Israeli cities, "Globes" has found.

24/05/2020 17:40 Real estate Guy Nardi
After 10 years, El Al plane lands in Turkey

The El Al cargo aircraft is the first in a series of flights that will take medical equipment from Istanbul to New York.

24/05/2020 15:44 Tourism Globes correspondent
Coronavirus assists Novolog's business strategy

CEO Eran Taus: The coronavirus pandemic actually strengthens our strategic plan for a transition to online medicine at home.

24/05/2020 15:37 Healthcare Gali Weinreb
IKEA opens Beit Shemesh store

Covering 25,000 square meters, this is the Swedish furniture retail chain's sixth store in Israel.

24/05/2020 15:00 Retailing Shany Moses
FIMI bids to raise Magal stake to 80%

The $25.6 million offer for 8,669,029 shares would increase FIMI's stake in the Israeli security systems company from 42.6% to 80%.

Apartments sold and rented

A selection of recent real estate deals in Israel including in Jerusalem, Beit Shemesh, Tel Aviv, Rehovot, Beersheva, and Dimona.

Phoenicia America-Israel glass factory shuts down

The coronavirus crisis was the final nail in the coffin of the struggling company and also meant that the factory's 300 employees lost their jobs without being able to put up a fight.

24/05/2020 12:50 Employment Dror Feuer
Doral Renewable Energy files for TASE IPO

The company is believed to be planning to raise NIS 150 million at a valuation of NIS 500-550 million.

24/05/2020 11:04 Energy Aviv Levy
Netanyahu trial begins

Prime Minister Benjamin Netanyahu must answer charges of bribery, fraud and breach of trust in the Jerusalem District Court.

24/05/2020 09:45 Politics Chen Ma'anit

22 May 2020

Remote working boosts valuation to $2.7b

The Israeli company's valuation has jumped 45% from last year in a secondary share sale by investors, "Bloomberg" reports.

22/05/2020 13:08 Start ups Omri Zerachovitz

21 May 2020

Downward coronavirus trend in Israel continues

The number of confirmed cases rose by 13 today to 16,683.

21/05/2020 21:31 Healthcare Globes correspondent
Hot reports subscriber growth but lower revenue

Fixed-line subscriber numbers grew by 14,000 in the first quarter, while revenue fell 1% in comparison with the first quarter of 2019.

21/05/2020 20:12 Market Gad Perez
Israeli credit card co Max lays off 50

With credit card transactions down, Max, formerly Leumi Card is also cutting salaries of management and the board of directors by 10% until the end of the year.

21/05/2020 16:53 Financial services Ron Stein
Iranian hackers launch cyberattack on Israeli websites

Iranian hackers have launched an orchestrated cyberattack on Israeli websites to mark Iranian Jerusalem Day.

21/05/2020 12:34 Politics Uri Berkovitz
Cellcom Q1 loss soars 169%

Cellcom CEO Avi Gabbay: I believe that the proactive steps we are taking will enable the company to cope with the coronavirus crisis and enter 2021 as a better and more focused company.

21/05/2020 10:28 Market Globes correspondent
Bezeq reports higher Q1 profit on lower revenue

Bezeq chairman: Pelephone saw continued subscriber growth and Yes swung to profit.

21/05/2020 09:57 Market Gad Perez
James Richardson axes 200 airport duty free staff

James Richardson, which operates the main duty free stores at Ben Gurion airport, is laying off 20% of its staff due to the Covid-19 crisis.

Tel Aviv Metro M2 line plans unveiled

The M2 line will be 22 kilometers long extending from Petah Tikva in the east via Tel Aviv to Holon.

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