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Israel's Business Arena

Last Build Date: Mon, 05 Dec 2016 11:12:50

Copyright: Globes 2016

Nochi Dankner given two years jail

Mon, 05 Dec 2016 10:47:18

Dankner was sentenced this morning following his conviction for share pegging in an attempt to support an IDB offering.

Elco close to buying Golan Telecom

Mon, 05 Dec 2016 09:59:37

Golan Telecom shareholder Patrick Pariente is due in Israel to finalize the agreement. 

El Al management, pilots sign agreement

Sun, 04 Dec 2016 21:04:52

Flight cancelations and disruptions have ended after the pilots were awarded an 8.75% pay hike but accepted a streamlining plan.

Hapoalim halts NIS 3.2b bond offering

Sun, 04 Dec 2016 18:45:01

The bank will wait for calmer times following last week's resignation of chairman Yair Seroussi.

LDS wins medical cannabis marketing deal

Sun, 04 Dec 2016 18:29:00

LDS Biotech's technology makes it possible to prevent the psychoactive effect of cannabis on users.

Treasury backs multiple home owner betterment tax cut

Sun, 04 Dec 2016 18:33:00

Reducing betterment tax is consistent with the new tax, officials argue, because it gives multiple home owners an incentive to sell.

NTA CEO: TA light rail ready in 2021

Sun, 04 Dec 2016 17:05:31

In a letter to employees, Yehuda Bar-Onurges them to ignore media reports regarding the failure of company tenders.

Plastic bags to cost NIS 0.10 from Jan 1

Sun, 04 Dec 2016 15:16:50

Israel's Ministry of Environmental Protection will subsidize reusable shopping bags.

Cabinet approves Hizkiyahu as Accountant General

Sun, 04 Dec 2016 14:32:24

Rony Hizkaiyahu was Supervisor of Banks in 2010-2016 and has been First International Bank chairman since 2012.

IMI unveils Magic Spear artillery system

Sun, 04 Dec 2016 14:01:53

The 155-mm rocket, which has a range of 40 kilometers, was demonstrated to 17 countries at an Israeli test site.

Herzliya Buyer's Price project has strings attached

Sun, 04 Dec 2016 12:58:01

People eligible for Israel's reduced-price housing program cannot pick one favored location.

Hapoalim sells Miami private banking business

Sun, 04 Dec 2016 12:09:00

Safra National Bank of New York is buying Bank Hapoalim's Miami private banking business, which is focused on high net worth Latin American clients.

Ratio completes Leviathan development finance

Sun, 04 Dec 2016 10:36:10

HSBC and BNP Paribas will lend Ratio $250 million with an option on a further $150 million.

FIMI buys G4S Israel

Sun, 04 Dec 2016 10:08:27

FIMI is paying about NIS 425 million to buy the company from global security group G4S plc. 

Ein Gedi charges NIS 8 for water costing NIS 3

Thu, 01 Dec 2016 21:11:52

Israeli mineral water company Ein Gedi's gross profit rose to 63% of sales in the first nine months of 2016.

Finance C'tee suspends budget approval process

Thu, 01 Dec 2016 18:17:45

Knesset Finance Committee chairman Moshe Gafni said that he decided on a time out in order to try to reach agreements with the Ministry of Finance on "matters of substance".

New Road 6 Negev section opens

Thu, 01 Dec 2016 16:45:10

The Cross Israel Highway now stretches 175 kilometers from Ein Tut in the north to Shoket in the south.

Waze sued for directing drivers to quiet streets

Thu, 01 Dec 2016 15:51:01

A lawsuit by the residents of Herzliya Bet alleges that drivers directed by Wave to streets in their neighborhood are creating noise, dirt, and a safety hazard.

Hot Mobile continued to strengthen in November

Thu, 01 Dec 2016 15:05:04

Hot Mobile gained a net 6,387 subscribers in November, while Golan Telecom lost 5,372.

Zim losses mount

Thu, 01 Dec 2016 14:30:17

Zim posted a $171 million net loss in the first nine months of 2016.

NGO: Gov't doesn't want home prices to fall

Thu, 01 Dec 2016 14:28:28

A new report by the Adva Center argues that the government has no desire to bring down home prices despite the promises of the politicians.

Israeli cannabis inhaler co Syqe targets US

Sun, 04 Dec 2016 10:57:14

Syqe's CEO has told "Bloomberg" that the company expects approval in other countries with the US "the obvious target."

Shekel continues to gain ground

Thu, 01 Dec 2016 11:14:01

Although the dollar is appreciating worldwide, the Israeli currency continues to strengthen.

Leviathan partners sign $2b gas deal

Thu, 01 Dec 2016 11:10:26

The latest deal is with Or Energies, which will buy 8.8 billion cubic meters of gas over 20 years.

XIO Group buys Meitav Dash for NIS 1.48b

Sun, 04 Dec 2016 10:14:11

Meitav Dash CEO Ilan Raviv, chairman Zvi Stepak and vice chairman Avner Stepak will remain in their jobs.

Israeli co SinTecMedia buys Operative Media

Thu, 01 Dec 2016 09:31:09

The Jerusalem-based TV ad technology company is acquiring the US digital ad company for $200 million.

Discount set to sign collective wage agreement

Wed, 30 Nov 2016 12:50:12

Employees will receive a flat NIS 1,500 hike and a NIS 20,000 grant while managers will receive a NIS 1,750 raise.

Class action against "lengthened" El Al flights

Wed, 30 Nov 2016 20:50:15

El Al has allegedly known that its pilots were deliberately making their flights last longer in order to increase their salaries.

Irit Izakson to be appointed First Int'l Bank chair

Wed, 30 Nov 2016 20:47:14

Izakson has announced her resignation from the Bank Hapoalim board of directors.

Tshuva's El-Ad National to issue bonds on TASE

Wed, 30 Nov 2016 20:52:18

The US real estate company is seeking to raise NIS 220 million in unlinked bonds bearing 4.4% interest.

India eyes Israeli tank, APC systems

Wed, 30 Nov 2016 21:05:00

Israeli companies involved in the Merkava tank and Namer armored personnel carrier held a seminar in India, Israel's biggest defense customer.

Flug pessimistic on Israel's long-term growth

Sun, 04 Dec 2016 12:30:22

The Governor of the Bank of Israel questions whether economic growth is sustainable without social integration.

Teddy Sagi sells 12% Playtech stake for £329m

Wed, 30 Nov 2016 16:02:48

The Israeli billionaire's stake in the online gambling platform company has fallen to 21.6%.

Elbit unveils signal intelligence systems

Wed, 30 Nov 2016 15:05:53

The solutions for homeland security applications include data integration, signal interception and cyber intelligence.

Teva shareholder wants corruption disclosure

Thu, 01 Dec 2016 18:28:53

The shareholder wants more information on the $500 million set aside for investigations related to violation of the US Foreign Corrupt Practices Act.

OECD: Israel fuel tax among highest

Wed, 30 Nov 2016 14:44:01

Overall taxes on gasoline, including excise and VAT, constitute 65.4% of the price.

Gett raises $100m in Russian bank loan

Wed, 30 Nov 2016 14:43:00

Sberbank is extending a venture loan to expand the business of Israel's taxi-hailing app.

US Congress approves Israel cyber cooperation

Wed, 30 Nov 2016 12:03:01

Congress voted by a large majority in favor of two bills to promote US-Israel cooperation on cyber security research.

Shekel rally against dollar continues

Wed, 30 Nov 2016 11:29:00

FXCM Israel: The upcoming OPEC meeting, Italian referendum and US Fed meeting on interest rates could cause high volatility in the markets.

Oded Eran appointed Hapoalim chairman

Wed, 30 Nov 2016 07:53:13

Eran replaces Yair Seroussi who steps down at the end of December following his failure to inform the Bank of Israel about a sexual assault complaint against former CEO Zion Kenan.

Teddy Sagi to sell £294m Playtech stake

Sun, 04 Dec 2016 12:23:51

The Israeli billionaire's stake in the online gambling platform that he founded will fall from 33.6% to 23.6%.

Tzrifin base vacated - new homes planned

Tue, 29 Nov 2016 19:28:27

The base will make way for thousand of new homes in high demand new neighborhoods of Rishon Lezion.

Microbot completes merger with Stem Cell

Tue, 29 Nov 2016 19:22:30

Israeli company Microbot has developed medical robots for cleaning drainage pipes in the body.

Cornerstone to raise NIS 240m on TASE

Tue, 29 Nov 2016 18:56:01

The US real estate company's bonds, which will bear 6.25% annual interest, are repayable in five annual payments.

Delek swings to profit

Tue, 29 Nov 2016 18:46:01

Delek Group made an NIS 85 million profit in the third quarter, compared with a NIS 261 million loss in Q3 2015.

Xinwei to buy Spacecom despite Amos explosion

Wed, 30 Nov 2016 07:21:57

The Chinese company will pay $190 million, 50% more than the Israeli satellite company's market cap, but 33% less than previously agreed.

Hapoalim chairman Yair Seroussi resigns

Tue, 29 Nov 2016 15:17:09

Yair Seroussi steps down at the end of December following his failure to inform the Bank of Israel about a sexual assault complaint against former CEO Zion Kenan.

Cellcom files for Golan Telecom liquidation

Tue, 29 Nov 2016 16:03:00

Despite Michael Golan's removal, sale talks are stuck with no buyer or repayment of its debt in sight.

Gasoline prices to fall in Israel Wed night

Tue, 29 Nov 2016 13:58:51

The maximum price of 95 octane gasoline at self-service pumps will fall NIS 0.07 to NIS 5.96 on December 1.

AT&T's new TV app developed in Israel

Tue, 29 Nov 2016 16:53:25

The US communications giant's app DirectTV Now, used to stream content to the web, was developed mostly by its Israel R&D center.

Strauss Group buys Strauss Water minority stake

Tue, 29 Nov 2016 13:15:32

Strauss is paying NIS 66 million for the 12.44% holding of minority shareholders.

Africa-Israel reports huge Q3 NIS 2.4b loss

Tue, 29 Nov 2016 12:43:16

The sale of the Russian operations subsidiary AFI Development brought about the massive loss. 

Tender issued for new Jerusalem western road

Tue, 29 Nov 2016 12:52:45

Road 16 will be a five kilometer highway linking Motza with Jerusalem's southwestern neighborhoods.

Mobileye, Delphi, Intel team on cars

Tue, 29 Nov 2016 11:51:00

The Israeli sensor company and the UK car parts company will develop slef-driving systems using Intel's chips.

Shekel stronger after December rate decision

Tue, 29 Nov 2016 10:57:00

The euro is at a 14 year low against the Israeli currency.

Home sales fell in Israel in September

Tue, 29 Nov 2016 08:52:32

New homes sales fell 10% and first time buyers 4%, the Ministry of Finance Chief Economist reports.

Ethiopian immigrants closing education gaps

Mon, 28 Nov 2016 18:25:01

There are currently 141,200 citizens of Ethiopian origin in Israel, 55,500 of them born in Israel

El Al talks with pilots close to breaking down

Mon, 28 Nov 2016 18:24:01

Head of the Histadrut's Transport Division Avi Edri says "there are disagreements on wording."

Israeli spinal implant co ApiFix raises $5m

Mon, 28 Nov 2016 17:27:19

ApiFix's system is minimally invasive and does not require fusion, thus maintaining spine flexibility and high quality of life.

Hapoalim confirms chairman's early exit

Wed, 30 Nov 2016 07:46:23

The frontrunner to replace Yair Seroussi as Bank Hapoalim chairman is Adv. Oded Eran.

Bank of Israel keeps Dec rate unchanged

Mon, 28 Nov 2016 16:19:02

The interest rate has been unchanged since it was cut to a historic low of 0.1% in March 2015.

Appraisers Assn: Home prices up 9% in 2016

Mon, 28 Nov 2016 17:32:45

The Israel Real Estate Appraisers Association found prices rose 2.3% in the past quarter and there was no decline in prices in even one city.

Teva to market world's first cannabis inhaler

Mon, 28 Nov 2016 18:32:00

Teva Israel has signed a cooperation and marketing agreement with Israeli company Syqe Medical.

Edwards buys Israeli co Valtech Cardio for $1b

Tue, 29 Nov 2016 08:52:00

The Or Yehuda based company has developed a valve repair device.

OurCrowd opens Singapore office

Mon, 28 Nov 2016 12:57:28

The Israeli equity crowdfunding company's seventh office will serve its growing community of Asian investors.

Ratio unit to raise NIS 100m in TASE IPO

Mon, 28 Nov 2016 12:36:01

Delek will buy 17.5% of the offering in Ratio Petroleum, which holds gas and oil exploration permits abroad.

Shekel strengthens

Mon, 28 Nov 2016 13:10:00

FXCM Israel: We have seen a slight retreat by the dollar, but it is expected to continue to strengthen in the medium to long term.

Nilit in talks to sell plastics unit for $233m

Mon, 28 Nov 2016 11:49:00

US company Celanese is conducting due diligence of the Israeli nylon fiber producer's plastics operations.

El Al pilots, management reach agreement

Mon, 28 Nov 2016 10:27:31

The pilots will receive a 7.35% pay hike and shorten their stay overseas on long-haul flights.

Israel to procure 17 more F-35 stealth fighters

Mon, 28 Nov 2016 08:03:00

The security cabinet has approved raising the number of fighter aircraft being purchased from the US to 50.

Castro to buy stake in Urbanica

Sun, 27 Nov 2016 21:08:01

The negotiations reflect a NIS 120 million value for Urbanica.

Treasury mulls how to cover firefighting costs

Sun, 27 Nov 2016 18:46:00

The costs include personnel, firefighting materials, and foreign airplanes sent to Israel.

Hapoalim chairman expected to step down

Sun, 27 Nov 2016 18:27:01

Yair Seroussi failed to notify the Bank of Israel of a sexual assault complaint against former CEO Zion Kenan.

Q Holdings in talks to buy Degania Silicone

Mon, 28 Nov 2016 07:55:00

The Israeli kibbutz company manufactures products for use in urological catheters and cardiology balloons.

Israeli diamond explorer Shefa Yamim raises £7m

Sun, 27 Nov 2016 15:42:00

The Israeli diamond exploration company's unit Shefa Yamim (A.T.M) will scale down its planned London floatation following an investment from GEM investment fund.

Apartments sold and rented

Sun, 27 Nov 2016 14:38:01

A selection of recent real estate deals in Israel including in Ramat Gan, Ra'anana Netanya, Jerusalem, Ashdod and Beersheva.

Israelis flock to foreign carriers

Sun, 27 Nov 2016 13:48:00

The controversial El Al pilots strike contributes to the disenchantment that has led Israelis to search for alternative carriers.

Hapoalim denies plans to sell Swiss bank

Sun, 27 Nov 2016 12:21:00

The Israeli bank has denied reports that it is looking for a buyer for Bank Hapoalim Switzerland.

Fitch upgrades Leumi, Hapoalim

Sun, 27 Nov 2016 11:02:58

Fitch Ratings has revised Bank Leumi and Bank Hapoalim's IDRs and Support Rating Floors to 'A' from 'A-'.

Delek units raise bank finance for Leviathan

Sun, 27 Nov 2016 13:40:00

HSBC and JP Morgan have committed to lend $1.5-175 billion for the first stage of the natural gas project.