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Israel's Business Arena

Last Build Date: Thu, 23 Mar 2017 20:46:14

Copyright: Globes 2017

Adama stake sale boosts IDB profit

Thu, 23 Mar 2017 20:25:54

The group's auditors have removed the going concern qualification they attached to its financial statements in recent years.

Shaked sets fees to stem class actions flood

Thu, 23 Mar 2017 18:39:45

 Minister of Justice Ayelet Shaked has decided that a NIS 24,000 fee will be charged for a class action in a district court.

Israir reports strong profit growth

Thu, 23 Mar 2017 18:42:43

All measures of the airline's business improved in 2016, and it added revenue from incoming tourism.

Frutarom's sales soar 31% in 2016

Thu, 23 Mar 2017 17:43:59

The company's operating profit was $149 million, and its net profit $109 million.

Harel, Migdal report improved profits

Thu, 23 Mar 2017 17:36:35

Harel Insurance has declared a NIS 107 million dividend.

Israeli medical cannabis co Therapix lists on Nasdaq

Thu, 23 Mar 2017 16:59:50

Therapix Biosciences, which is developing treatments for Alzheimer's and Tourette syndrome, raised $12 million.

Israel raises fines for traffic violations

Thu, 23 Mar 2017 15:02:01

Driving at 41-50 kilometers per hour above the speed limit on an inter-urban road will incur a fine of NIS 1,500.

BiolineRx buys UK co Agalimmune

Thu, 23 Mar 2017 14:29:06

BiolineRx is paying $6 million upfront for Agalimmune, which has developed a new immunotherapy solution for treating cancer.

Lebanon: Israel's maritime zone law means war

Thu, 23 Mar 2017 11:24:43

Lebanese parliament spokesman Nabih Berri said that Israel's proposed law on the energy-rich disputed waters could trigger a war.

Citi: Banks and fintech cos must cooperate

Thu, 23 Mar 2017 10:45:50

A Money 20/20 conference at Citi's Israel Innovation Center discussed the growing synergy between banks and fintech companies.

Shekel resumes gains

Thu, 23 Mar 2017 10:42:31

FXCM Israel: The Bank of Israel has adopted a more aggressive stance against speculators.

Teva fires dozens in Israel

Thu, 23 Mar 2017 13:41:56

Many more employees will be let go in Israel and worldwide as the pharmaceutical company implements a new streamlining plan.

Daylight savings in Israel begins tonight

Thu, 23 Mar 2017 09:04:19

At 2am Thursday night - Friday morning March 23/24, clocks should be moved forward by one hour.

BoI: Growth added NIS 4.5b to tax revenues

Thu, 23 Mar 2017 07:20:17

Revenues from taxes on imported cars and real estate equaled 0.5-0.7% of GDP in recent years, the Bank of Israel said.

Building starts slightly down in 2016

Thu, 23 Mar 2017 07:12:47

The Bank of Israel criticized the Central Bureau of Statistics' estimates for being consistently lower than the true figures.

Coca Cola Israel handed NIS 62.7m antitrust fine

Thu, 23 Mar 2017 10:13:05

The Central Bottling Company allegedly offered discounts on monopoly Coca Cola products to customers that bought Tara dairy products.

Sde Dov Airport to operate until 2019

Thu, 23 Mar 2017 07:20:44

Tel Aviv landowners: Violating agreements with us will cost the state NIS 6.5 billion.

Netflix to open Israel customer call center

Wed, 22 Mar 2017 17:53:04

The US company is advertising for Hebrew speaking customer support staff and is set to shake up Israel's TV market.

Schneider lands $7m artificial pancreas grant

Wed, 22 Mar 2017 15:25:39

A trial of an artificial pancreas with 100 patients will be conducted at the Israeli children's hospital with a US NIH grant.

Azrieli profit doubles

Wed, 22 Mar 2017 14:34:08

95% of the office space in Tel Aviv's Azrieli Sarona building has been leased.

Elbit wins $100m IDF radio systems deal

Wed, 22 Mar 2017 13:48:08

Elbit Systems will expand its manufacturing and maintenance site in Arad to include 100 employees.

Israeli smart car co Autotalks raises $30m

Wed, 22 Mar 2017 13:39:29

The Israeli company's V2V communications will be deployed in US in new vehicles from 2019 following design wins with leading Tier-1s and OEMs.

Pilots' crisis pushes El Al to Q4 loss

Wed, 22 Mar 2017 11:52:08

The Israeli carrier's 2016 net profit was $81 million down from $107 million in 2015. 

Shekel loses sharply as BoI buys more dollars

Thu, 23 Mar 2017 10:26:35

The Bank of Israel is buying large amounts of foreign currency for the third consecutive day.

Netanyahu continues to trail in the polls

Wed, 22 Mar 2017 11:23:37

The latest poll for Radio 103FM shows Yair Lapid's Yesh Atid winning 26 seats and the ruling Likud winning 24 seats.

Elbit Systems ends 2016 with higher profit and revenue

Wed, 22 Mar 2017 10:19:01

The backlog of orders held by the Israeli defense electronics company rose to $6.9 billion at the end of 2016.

More arrests in Israel Aerospace bribery probe

Wed, 22 Mar 2017 09:50:51

One of the suspects arrested today is the son of a well-known public figure.

Israel probes Google, Facebook tax collection options

Wed, 22 Mar 2017 17:42:31

Investigators believe that they have evidence that Google and Facebook have a relationship with the domestic market that justifies assessing them for taxes.    

Police recommend indicting Netanya mayor

Tue, 21 Mar 2017 18:13:38

Miriam Feirberg allegedly accepted bribes, abetted by her son and ex-husband.

Forbes: Eyal Ofer remains wealthiest Israeli

Wed, 22 Mar 2017 10:29:37

There were 18 Israelis on "Forbes" 2017 billionaires list with Stef Wertheimer again the richest Israel-based Israeli.

TASE, Intel team for Int'l Blockchain Hackathon

Tue, 21 Mar 2017 15:35:34

Driven by its unique experience with Fintech, cyber and cryptography, Israel has positioned itself as the hotspot for blockchain innovation.

Treasury approves pay hike for professional soldiers

Tue, 21 Mar 2017 14:16:11

The agreement will affect 10,000 officers and NCOs.

Flug: Foreign residents speculating on shekel

Tue, 21 Mar 2017 14:10:08

Karnit Flug believes much of the $4.5 billion bought by foreign residents since the start of 2017 is speculative investment.

Mizrahi profit continues to rise

Tue, 21 Mar 2017 13:02:12

The Israeli bank's return on equity rose from 10% in 2015 to 10.2% in 2016.

Shekel gains on dollar despite BoI $300m buy

Tue, 21 Mar 2017 12:33:35

FXCM Israel: On the last two occasions that the Bank of Israel intervened, it did not succeed in holding back the shekel.

Ophthalmic device co EyeYon Medical raises $6.5m

Tue, 21 Mar 2017 13:53:11

China-based venture capital fund Rimonci Capital and co-investor Gauss Group led the financing round.

Egged strike called off

Tue, 21 Mar 2017 06:45:00

The bus cooperative and Histadrut have heeded the Tel Aviv District Labor Court's recommendation to enter more intensive talks.

Israel's tallest planned building approved

Tue, 21 Mar 2017 12:04:57

The 100-floor building will overlook Tel Aviv Savidor Central station.

Israel, Lebanon on gas tender collision course

Thu, 23 Mar 2017 18:41:45

Israel has asked the US and the UN to pressure Lebanon to change the oil and gas exploration tenders being planned.

Israel, China sign building workers agreement

Mon, 20 Mar 2017 19:12:05

6,000 construction workers from China will come to Israel in the next six months and 20,000 in total.

IMI competes against Lockheed on Polish missiles

Mon, 20 Mar 2017 19:12:55

Israel Military Industries is cooperating with Israel Aerospace Industries in the Polish tender, using the same launcher for both of their missiles.

Netflix plans Hebrew content broadcasts

Mon, 20 Mar 2017 17:18:38

Netflix is buying Israeli content and translating very large amounts of foreign content to Hebrew, sources inform "Globes."

Air Europa to double Israel flights

Mon, 20 Mar 2017 16:49:17

Boeing 787 Dreamliners will be used for the Tel Aviv - Madrid flights.

3 Jerusalem urban renewal projects approved

Mon, 20 Mar 2017 16:45:45

The plans will add 587 housing more units in Kiryat HaYovel.

Katz attacks Egged ahead of Tuesday's strike

Mon, 20 Mar 2017 15:49:04

The Transportation Minister told Egged, "You're dinosaurs. If you don't do what's needed, you'll become extinct."

Data security co Safe-T teams with Check Point

Mon, 20 Mar 2017 13:43:29

Safe-T believes that cooperation with Check Point can bolster its reputation in the global information security market and increase its sales.

Rafael reports higher profit for 2016

Mon, 20 Mar 2017 13:09:19

The Israeli defense company's orders backlog totaled NIS 21.7 billion.

Storage solutions co Reduxio raises $22.5m

Mon, 20 Mar 2017 12:49:56

The Israeli storage and data management solutions company has 50 employees at its offices in Petah Tikva.

Shekel still strengthening

Mon, 20 Mar 2017 14:16:20

FXCM Israel: There is renewed pressure on the Bank of Israel to intervene on the foreign exchange market.

Designer Karim Rashid launches Israel operations

Sun, 19 Mar 2017 21:12:16

The industrial designer is opening on office in Israel through the Amos Bentzur & Co. law firm, which will be Rashid's representative worldwide.

Car importers profit from lack of competition

Sun, 19 Mar 2017 18:00:01

Israel's car import sector features little competition and exceptional profit margins, the Ministry of Finance chief economist has found.

Communications Ministry approves Electra Golan merger

Sun, 19 Mar 2017 18:20:51

The Electra Consumer and Golan Telecom shareholders are expected to approve the deal soon.

Mortgage interest rates resume rise in March

Sun, 19 Mar 2017 17:21:23

The interest rate rose last month for all periods of mortgages.

IAI CEO: We must eliminate improper behavior

Sun, 19 Mar 2017 17:18:59

13 Israel Aerospace Industries employees were arrested, including a board member and a member of the workers' committee.

Apartments sold and rented

Sun, 19 Mar 2017 16:32:56

A selection of recent real estate deals in Israel including in Tel Aviv, Herzliya, Ashkelon, Beersheva and Dimona.

Taxi fares in Israel rise 4%

Sun, 19 Mar 2017 15:45:27

Fares were cut 11% in November by the Ministry of Transport and Ministry of Finance.

First-ever apartments approved for Kfar Shmaryahu

Sun, 19 Mar 2017 15:40:15

169 of the 257 planned homes are apartments in buildings of up to five storeys.

Anglo-Saxon CEO: Election means jump in home prices

Sun, 19 Mar 2017 14:22:16

Adina Haham: Even the possibility of elections is enough to produce a market buzz.

50 startups founded in Negev in 2016

Sun, 19 Mar 2017 13:43:15

The Beersheva high-tech park already has over 40 companies and 1,800 employees.

BoI research backs forex intervention

Thu, 23 Mar 2017 15:02:50

The study examined the effect of Bank of Israel intervention in foreign currency trading in 2009-2015.

Meitav Dash down on XIO dispute

Sun, 19 Mar 2017 12:14:22

A Chinese billionaire is accusing the XIO fund, due to buy Meitav Dash, of denying his holdings in it.

Katz talks down likelihood of elections

Sun, 19 Mar 2017 11:01:16

Minister of Transportation Yisrael Katz insists that the dispute between Netanyahu and Kahlon over the Israel Broadcasting Corp. is not an excuse for new elections.

New global post-seed VC fund to raise $50m

Thu, 16 Mar 2017 18:58:39

Follow (the) Seed is an Israeli-US-Chinese-Australian fund that has already invested in two Israeli startups.

Auto-tech co Foresight makes third offering in two weeks

Thu, 16 Mar 2017 18:40:38

Foresight, whose share price soared 30% this week, has raised NIS 43 million this month.

BMW mulls Israeli smart car R&D center

Thu, 16 Mar 2017 19:53:05

A senior BMW delegation is currently visiting Israel to look at startups and decide about the center.

Coalition crisis over? Netanyahu, Kahlon make broadcasting pact

Thu, 16 Mar 2017 19:01:34

The Israel Broadcasting Corporation will be launched as planned, in exchange for legislation giving the government more power over all broadcast media.

Apax Partners in talks to buy Max Stock discount chain

Thu, 16 Mar 2017 17:05:14

The Max Stock chain has 41 outlets in Israel, with over 10,000 items in each store.

Orthopedics co Active Implants raises $40m

Thu, 16 Mar 2017 16:44:58

The company's leading product is an artificial meniscus implant.

El Al cuts Hong Kong fares to counter Cathay

Thu, 16 Mar 2017 19:56:35

Cathay Pacific is introducing competition on the Tel Aviv-Hong Kong route for the first time.

New apartment sales down 4.9% in 2016

Thu, 16 Mar 2017 19:58:32

Rosh Ha'ayin led Israel in the number of new homes sold in 2016 with 1,501, the Central Bureau of Statistics reports.

Kahlon, Netanyahu clash on Broadcasting Auth

Thu, 16 Mar 2017 17:48:03

The prime minister now wants a delay in setting up the new authority.

First Int'l Bank profit down in fourth quarter

Thu, 16 Mar 2017 11:47:11

The bank's return on equity in 2016 was 7.2%.

Karmiel - Akko railway line completed

Thu, 16 Mar 2017 09:54:13

Trial runs on the line begin Sunday while the Karmiel - Tel Aviv route will be fully operational from the summer.

Shekel gains sharply despite US rate hike

Thu, 16 Mar 2017 09:27:46

FXCM Israel: It was a case of buy on rumors and sell on news as long traders sold the dollar.

Retired Brig Gen arrested in IAI corruption affair

Thu, 16 Mar 2017 08:22:44

Amal Asad, who sits on Israel Aerospace Industries board, is one of 13 people suspected of giving or receiving bribes.

CPI unchanged in Feb as home prices resume rise

Wed, 15 Mar 2017 18:50:16

Home prices in Israel rose 0.5% in December and January, the Central Bureau of Statistics reports.

Auto-tech co Foresight raises NIS 14.7m more

Thu, 16 Mar 2017 18:41:05

Foresight has raised a total of NIS 38.5 million in recent weeks and its share price jumped 18% in the past two dats.

Israeli co Barkid helps parents track children

Wed, 15 Mar 2017 17:57:00

Barkid's bracelet has little radiation, and does not require a SIM card.

Teddy Sagi sells Playtech shares for $139m

Wed, 15 Mar 2017 17:32:20

Sagi: Selling shares is part of a long-term strategy to diversify the group's business in real estate, shared work spaces, fintech, and ecommerce.

LaHood: Intel-Mobileye is a marvelous marriage

Wed, 15 Mar 2017 17:28:32

The former US Secretary of Transportation told the DLA Piper Tel Aviv coference that autonomous cars are the future because that's what people want.

Mobileye's "smaller" investors become millionaires

Wed, 15 Mar 2017 16:20:39

A huge $1.2 billion in options will be shared out by Mobileye's 600 employees and directors.

1,250 homes approved for Kiryat Ono

Wed, 15 Mar 2017 14:23:23

The plan also includes 350,000 sq.m. for commerce and business.

Shekel stronger despite expected US rate hike

Tue, 21 Mar 2017 12:17:31

FXCM Israel: The market has priced in a 90% likelihood that the Fed will raise the US interest rate by 0.25% tonight.

Number of Israeli jobseekers hits 10-year low

Wed, 15 Mar 2017 13:09:14

The number of jobseekers fell from 170,000 in January to 168,800 in February, the Israel National Employment Service reports.

Azrieli Rishonim mall opens Thursday

Wed, 15 Mar 2017 12:26:42

The group's 16th mall, which covers 55,000-sq.m., is adjacent to Rishon Lezion's Rishonim station.

Cellcom 2016 profit jumped 55% on lower revenue

Wed, 15 Mar 2017 11:27:01

Nir Sztern: Signing the network sharing agreements with Electra Consumer Products and Xfone 018, will ensure revenue while reducing investment.

13 arrested in Israel Aerospace corruption probe

Wed, 15 Mar 2017 12:13:30

Senior executives, board members and a former senior IDF officer are allegedly involved in deep rooted corruption at the government defense firm.

Landa: It'll be tough for Teva to find new CEO

Tue, 14 Mar 2017 20:04:46

Teva activist shareholder Benny Landa says Teva's board of directors should resign.

Court grants control of "Globes" to Alona Bar-On

Tue, 14 Mar 2017 17:36:51

Bar-On prevailed over Russian-Jewish bidder David Davidovich and becomes the first-ever woman to own a major Israeli media outlet. 

Israeli logistics platform co Bringg raises $10m

Tue, 14 Mar 2017 17:16:34

The Israeli company's platform offers companies a powerful yet flexible solution that enables them to streamline their entire delivery ecosystem.

TLV fashion mall to open this month

Tue, 14 Mar 2017 15:59:18

The mall is built on the ruins of Tel Aviv's old wholesale market.

Israel to invest NIS 100m for small gas fields

Tue, 14 Mar 2017 14:18:22

The government will invest NIS 100 million in infrastructure for connecting the gas pipeline of the small and medium-sized reservoirs to the national gas transport system.

Cryptography co Dyadic Security raises $12m

Tue, 14 Mar 2017 14:14:52

Dyadic CEO: We've changed the game for financial institutions and enterprise companies in how they protect sensitive data assets.