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06 August 2020

Amir Yaron  / Photo: Rafi Kotz, Globes Bank of Israel buys NIS 600m worth of corporate bonds

The corporate bond purchasing program started in July. The bank's foreign currency reserves top $150 million.

06/08/2020 18:43 Economy Amiram Barkat
Barak Eilam Photo: Eyal Izhar NICE jumps on strong Q2 results

With strong growth in the cloud sector, the Israeli software solutions company has seen its share price rise 35% since the start of 2020.

06/08/2020 15:40 IT Shiri Habib-Valdhorn
Benny Gantz and Shmuel Shapira / Photo: Ariel Hermoni, Ministry of Defense, PR Israel to begin Covid-19 vaccine human trials

Israel Institute of Biological Research head: We have a product and we will begin human safety and efficacy trials in October.

06/08/2020 14:44 Healthcare Tal Schneider
RFISee / Photo: PR Israeli auto-tech co RFISee unveils 4D imaging radar chip

The chip detects cars from 500 meters and pedestrians from 200 meters, with an angular resolution greater than 1 degree.

06/08/2020 12:47 Start ups Dubi Ben-Gedlayahu
Amdocs CEO Shuky Sheffer Photo: PR Amdocs beats analysts, sees 2020 growth

Non-GAAP net profit was $143 million ($1.07 per share), down 12.2% from 2019 but above the analysts' estimate of $1.05 per share.

06/08/2020 11:47 IT Shiri Habib-Valdhorn
Wix Photo: PR Wix grows strongly in Q2 as commerce moves online

The Israeli cloud-based web development company has seen its share price triple since April, and now has a market cap of over $16 billion.

06/08/2020 10:50 IT Globes correspondent
Taboola and Outbrain management  / Photo: Noam Galai UK regulator holds up Taboola - Outbrain merger

Despite approval from US and German regulators, Britain's CMA fears the merger of the Israeli content recommendation rivals will harm competition.

Eilat  / Photo: Yud Photography Treasury refuses domestic tourism budget, says Eilat full

A senior Ministry of Finance official has flatly refused to fund an ad campaign for tourism in Israel.

06/08/2020 09:01 Tourism Michal Raz-Chaimovitz
Lone passenger at Ben Gurion Airport  / Photo: Reuters Israel's skies to partially reopen August 16

Tourism Minister Asaf Zamir: This is important news for the aviation sector and all Israelis.

05 August 2020

Israel's budget deficit jumps to 7.2%

The Ministry of Finance said that as of the end of June it had spent 47% of its promised NIS 10 million economic rescue package.

05/08/2020 19:00 Economy Amiram Barkat
Eli Rozenberg demands immediate meeting with El Al board

Having received a permit to buy the financially troubled Israeli airline, Rozenberg wants an urgent meeting to move ahead with the acquisition.

Israeli AI smart city co Zencity raises $13.5m

The Tel Aviv-based company uses AI to provide local government agencies with actionable insights about communities' needs and priorities.

05/08/2020 16:51 Start ups Globes correspondent
Teva beats on Q2 profit, reiterates 2020 guidance

The Israeli pharmaceutical company reported a fall in revenue and profit, as expected, due to a continued decline in generic prices and Copaxone sales.

Beleaguered dollar sinks toward NIS 3.40

The dollar had its worst month for ten years in July against the world's major currencies.

05/08/2020 13:47 Market Globes correspondent
Speech recognition co Voiceitt raises $10m

The Israeli company's application translates unintelligible and atypical speech in real time, enabling people with severe speech impairments to communicate by voice.

05/08/2020 13:28 Start ups Globes correspondent
First detailed Sde Dov plan approved for objections

4,844 housing units will be built on the Eshkol Site, the southern section of the former Tel Aviv airport.

05/08/2020 12:59 Real estate Guy Nardi
Yitzhak Tshuva agrees partial sale of Elad Canada Realty

Elad Canada Realty is being sold to Rester Management of Canada for CA$508 million, but Elad Group will retain some of its assets.

05/08/2020 12:31 Real estate Omri Cohen
Fiverr turns profitable earlier than expected

Non-GAAP earnings became positive in the second quarter, and the gig economy platform has raised its annual guidance.

05/08/2020 11:05 Market Shiri Habib-Valdhorn

04 August 2020

Eli Rozenberg granted permit to buy El Al

The Government Companies Authority has issued Rozenberg with a permit to buy a controlling stake in the financially troubled airline.

Delek raises NIS 176m as Tshuva injects NIS 37m

The equity offering was oversubscribed with demand of NIS 295 million for the shares and warranties.

04/08/2020 19:21 Market Omri Cohen
Pelephone launching 5G network

Called 'Pelephone Plus' the network will begin operating as soon as the company receives the appropriate frequencies.

04/08/2020 18:29 Market Gad Perez
Delek Drilling raises $2.25b debt amid $7b demand

The bonds are guaranteed by a lien on the gas from the Leviathan offshore field in which Delek Drilling has a 45.34% stake.

04/08/2020 17:46 Energy Omri Cohen
Yotpo raises $75m at valuation of nearly $1b

The Israeli SaaS-based eCommerce marketing platform helps retail brands accelerate online revenue growth.

04/08/2020 16:38 Start ups Uri Berkovitz
CyberArk falls despite beating analysts

The Israeli privileged access security company reported higher revenue on lower profit.

04/08/2020 15:56 IT Globes correspondent
Average salary in Israel falls to NIS 11,459

The figure is being significantly influenced by the Covid-19 crisis with hundreds of thousands of people on low salaries sent on unpaid leave returning to work in May.

04/08/2020 14:58 Economy Amiram Barkat
13,000 homes approved for southwest Herzliya coast

Hof Hatchelet south of the Herzliya Marina is one of Israel's most coveted pieces of real estate awaiting development.

04/08/2020 14:28 Real estate Guy Nardi
Israeli cybersecurity co Silverfort raises $30m

The company has developed an agentless, proxyless authentication platform.

Strong results push SolarEdge towards $10b market cap

The share price of the Israeli photovoltaics company has doubled over the past seven months.

04/08/2020 13:07 Energy Shiri Habib-Valdhorn
TA Municipality loses Kikar Atarim parking lot sale appeal

The Supreme Court has finally annulled the NIS 150 million sale to the JTLV fund, saying the Tel Aviv Municipality had sell by tender.

04/08/2020 11:32 Real estate Guy Lieberman
Ofer Nimrodi raises stake in Israel Land Development

Nimrodi exploited the fall in the company's share price to increase his holding to 25% - 55% together with his father Yaakov Nimrodi.

04/08/2020 10:57 Real estate Kobi Yeshayahou
Netanyahu mulls further handout

Another round of universal grants for all Israelis is being considered in advance of the upcoming Jewish holiday season

03 August 2020

Rafael, Raytheon sign US Iron Dome production plant deal

The joint venture will set up the first production facility for the short-range missile interception system outside of Israel.

Gil Sharon appointed Bezeq chairman

Sharon replaces Shlomo Rodav who stepped down after disagreements with controlling shareholder Searchlight.

03/08/2020 18:51 Market Gad Perez
Israeli medical cannabis co Together signs Brazilian deal

Together has signed a distribution deal for marketing CBD oils for treating epilepsy.

03/08/2020 18:37 Healthcare Globes correspondent
Homeless: New PM residence, office needs new site

Israel's State Comptroller slams poor planning and the ballooning budget for the project, which for security reasons cannot be built on its original site.

03/08/2020 18:11 Real estate Guy Nardi
Sagi appoints co-CEOs for int'l investments unit

Former EY executives Guy Vardi and Yaniv Amzaleg will take charge of Teddy Sagi's $5.5 billion European investments portfolio.

03/08/2020 16:53 Economy Globes correspondent
American Tower in talks with Israeli mobile carriers

American Tower takes over rental agreements with the owners of cellular sites, thus freeing up cash for the carriers.

03/08/2020 10:54 Market Gad Perez
Bank of Israel: Mortgage risk rising

According to the bank's Financial Stability Report, 50,000 young couples in Israel face difficulty in making mortgage repayments.

02 August 2020

Covid-19 puts data privacy on slippery slope

Coronavirus is associated with location monitoring and GPS tracking but health information can also be abused, argues Adv. Gary Copelovitz.

02/08/2020 20:00 Legal Adv. Gary Copelovitz
1230 homes approved to replace Herzliya wastewater plant

The wastewater purification plant will finally be vacated with Herzliya joining the Shafdan Dan Region wastewater plant, which is located in west Rishon Lezion.

02/08/2020 19:45 Real estate Guy Nardi
Amazon in talks to build three Israel data centers for NIS 1b

Azrieli and its partner Compass have bid to build and lease out the data centers to Amazon and have options on three lots for the purpose.

02/08/2020 18:45 Real estate Omri Zerachovitz
Kolber biggest winner as Fiverr soars nearly five-fold

Canadian born Jonathan Kolber, who today lives in Israel, has an 11.9% stake worth $383 million, in the gig economy platform company.

02/08/2020 17:40 IT Shiri Habib-Valdhorn
Israeli startups raised $700m in July

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised almost $6 billion in the first seven months of 2020, despite the Covid-19 crisis.

Medical imaging co Nanox files to raise $125m on Nasdaq

The Israeli company plans to disrupt early-detection healthcare via deployment of a global medical imaging infrastructure at an affordable price-per-scan service model.

Treasury sees Israel's economy shrinking 7.2% in 2020

The Chief Economist at the Ministry of Finance also sees 15% unemployment at the end of 2020, if Covid-19 persists through the winter, requiring parts of the economy to shut down.

02/08/2020 14:46 Economy Amiram Barkat
Apartments sold and rented

A selection of recent real estate deals including in Tel Aviv, Herzliya, Modi'in, Ness Ziona, Yavne and Beersheva.

Nakash brothers to inject NIS 25m into Arkia

The airline will also take a NIS 130 million loan to help it survive the Covid-19 pandemic.

Saturday night protests against Netanyahu continue

About 10,000 people gathered in Jerusaleme last night. The Likud has called reporting of the demonstrations "incitement by the media".

El Al board refuses Eli Rozenberg's meeting request

The airline says there is no point in a meeting until the true identity of the bidder for it is clarified.

02/08/2020 10:38 Tourism Michal Raz-Chaimovitz

30 July 2020

Construction industry AI co Buildots raises $12.5m

Buildots puts cameras on the hardhats of managers to capture imaging of every detail of an ongoing project during regular site walks.

30/07/2020 16:36 Real estate Yasmin Yablonko
Hebrew U researchers: Covid-19 in Israel under control

However, the team which includes Profs. Ronit Calderon and Yinon Ashkenazy, warns that there will be 200 more fatalities over the next 3 weeks from the wave in July.

30/07/2020 15:34 Healthcare Shani Ashkenazi
Aaron Frenkel builds Bayside position

The Israeli businessman, who last year made a large profit on Aeronautics, is looking for a repeat performance with income producing real estate company Bayside.

Gasoline prices in Israel to rise Sat night

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise by NIS 0.01 to NIS 5.45 per liter on Saturday night, August 2.

30/07/2020 13:11 Energy Globes correspondent
Teva scales down Japanese operations

Teva and Takeda have sold much of their joint venture and will focus on 20 generic drugs and several branded assets.

30/07/2020 12:29 Healthcare Shiri Habib-Valdhorn
Treasury chief urges El Al to move ahead on Rozenberg bid

Keren Terner wrote to the El Al board after meeting with Eli Rozenberg's representative Amikam Ben Zvi.

Fattal sells and leases back Berlin hotel

The Israeli hotel chain has increased liquidity by selling and leasing back the Leonardo Royal Berlin Hotel for NIS 230 million.

30/07/2020 10:16 Tourism Kobi Yeshayahou
Israel quietly raises more debt overseas

The Ministry of Finance is no longer announcing each new bond that is raised abroad with great fanfare.

30/07/2020 09:06 Economy Amiram Barkat
Health Ministry sees 'green countries' isolation waiver

Prof. Itamar Grotto says incoming passengers to Israel from low infection countries need not undergo isolation. But the plan faces many obstacles.

30/07/2020 06:49 Tourism Michal Raz-Chaimovitz

29 July 2020

Tower Semiconductor falls sharply after Q2 results

The Israeli chipmaker saw higher revenue and lower profit in the second quarter.

29/07/2020 17:56 IT Shiri Habib-Valdhorn
IAI, workers sign voluntary early retirement agreement

No numbers were mentioned but hundreds are expected to leave from the Aviation Group.

Knesset approves handouts, payments begin Sunday

The no-strings attached grants to every Israeli citizen will cost the Israeli government an estimated NIS 6.5 billion.

29/07/2020 15:46 Economy Tal Schneider
Israeli cloud security co Ermetic raises $17m

Ermetic helps organizations enforce tighter, least privilege access policies across both user and machine identities to help prevent data breaches.

Credit card spending in Israel rose strongly in June

Credit card spending was up 8.9% in June 2020 compared with June 2019, the Central Bureau of Statistics reports.

29/07/2020 14:37 Economy Amiram Barkat
Sales tech co Chorus.ai raises $45m

Chorus.ai has created a conversation intelligence platform for high-growth sales teams using artificial intelligence.

Shekel at strongest against dollar in 30 months

The Israeli currency is trading at levels against the dollar not seen since January 2018.

29/07/2020 12:56 Market Globes correspondent
Knesset approves investment home purchase tax cut

The purchase tax rate hike to 8% instituted by Moshe Kahlon has been cancelled.

29/07/2020 11:37 Real estate Amiram Barkat
ICL posts $168m second quarter loss

CEO Raviv Zoller: The coronavirus pandemic will continue to affect us in the coming months but we are well placed in our target markets.

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