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Israel's Business Arena

Last Build Date: Tue, 21 Nov 2017 18:46:31

Copyright: Globes 2017

Israeli AI co Coneuron raises $4m

Tue, 21 Nov 2017 18:00:12

The company's goal is to provide a tool that will allow young people to control their virtual lives.

Chengdu Kanghong Pharma buys Israel's IOPtima for $56m

Tue, 21 Nov 2017 17:35:47

The acquisition of the ophthalmology products company will generate $23-27.3 million in cash flow for BioLight, IOPtima's controlling shareholder.

Construction site management co Buildup raises $7m

Tue, 21 Nov 2017 17:17:48

The Israeli company has developed an app to manage complex construction projects and reports that it can speed up construction by 25%.

Israeli IoT cybersecurity co SCADAfence raises $10m

Tue, 21 Nov 2017 16:00:02

The Tel Aviv based company provides cybersecurity systems for industrial operational technology (OT) networks.

El Al share price hits turbulence ahead of Q3 results

Tue, 21 Nov 2017 14:49:18

The Israeli carrier's share price has fallen over 50% in the past year although it has risen 250% over the past three years.

Kahlon unveils national nursing care insurance plan

Tue, 21 Nov 2017 13:55:03

Histadrut chairman: Israel has revolutionized its nursing care.

Shekel weaker against dollar stronger against euro

Tue, 21 Nov 2017 13:40:23

The shekel remains robust after Israel's stronger than expected third quarter growth data.

Starboard buys 10.7% Mellanox stake amid takeover speculation

Tue, 21 Nov 2017 12:40:15

The US activist investor says the Israeli big data connectivity company spends too much on R&D, reports the "Wall Street Journal."

Frutarom posts record quarter; raises sales target

Tue, 21 Nov 2017 10:50:17

Frutarom president and CEO Ori Yehudai: We are raising our target sales for 2020 to US$ 2.25 billion.

Partner Q3 profit nearly triples

Tue, 21 Nov 2017 11:05:34

30,000 subscribers have joined Partner's television service.

Leumi Q3 profit down 11% to NIS 820m

Tue, 21 Nov 2017 09:41:40

The corresponding quarter's profit reflected material one-time income. The bank has raised its dividend.

DiA Imaging Analysis teams with GE Healthcare

Mon, 20 Nov 2017 19:34:15

DiA has developed automated imaging analysis technology for ultrasound designed for non-specialist medical personnel.

Banks to inform Tax Authority on customers' foreign investments

Tue, 21 Nov 2017 09:40:56

Israelis investing abroad no longer need inform the Tax Authority about such investments in advance, instead the banks will provide data about overseas payments.

Liberman requests NIS 4.8b more for defense

Mon, 20 Nov 2017 18:27:34

Minister of Defense Avigdor Liberman: Major and dramatic change in the region entails reopening the accord on defense spending.  

India scraps $500m Rafael missile deal - report

Mon, 20 Nov 2017 17:35:27

The Indian Defense Ministry has pulled out of talks for the Israeli company's Spike antitank missile, the "Indian Express" reports.

Israeli headhunting co Talenya raises $3m

Mon, 20 Nov 2017 16:29:54

The company has developed an efficient solution for hiring high-tech talent using big data, artificial intelligence and machine learning.

Fattal to build new Eilat hotel

Mon, 20 Nov 2017 16:56:20

The 13-floor hotel will be adjacent to the north beach's Herods Palace hotel.

Starwood Capital, PennantPark plan TASE bond offerings

Mon, 20 Nov 2017 14:45:33

PennantPark and Starwood will join 30 other US companies that have raised debt worth NIS 18 billion on the TASE.

BoI lifting restrictions on opening online bank accounts

Mon, 20 Nov 2017 14:08:01

New customers will no longer have to visit a bank branch for identification before opening an online account.

Wizz Air to offer daily Tel Aviv-London flights

Mon, 20 Nov 2017 12:39:14

From next March, Wizz Air will operate daily flights on the route instead of the current four flights a week.

Cellcom, Partner in talks on joint fiber-optic infrastructure

Mon, 20 Nov 2017 11:14:26

If agreement is reached, it will allow the two mobile companies to avoid duplicated future deployment.

Tamar flotation lifts Delek Drilling Q3 profit to $617m

Mon, 20 Nov 2017 10:29:39

Consumption of natural gas in Israel rose 5.6% in the first nine months of 2017. 

Former Tnuva execs set up new food company

Mon, 20 Nov 2017 10:05:06

Arik Shor and Eyal Arad have teamed with Miki Delicatessen to boost market penetration for Israel's smaller food companies.

Israeli regulator mulls removing gasoline price controls

Sun, 19 Nov 2017 18:22:33

Price controls were removed on diesel in 1993 and that market has become much more competitive than the gasoline market.

Israeli startup exits hit post record in Q3

Sun, 19 Nov 2017 17:04:44

Harel chief economist: The potential contribution of acquired companies moved overseas is lost to the Israeli economy.

VBL Therapeutics raising $18.75m in Nasdaq offering

Sun, 19 Nov 2017 16:40:15

The Israeli drug development company's lead product is a targeted anti-cancer gene-therapy agent to treat a wide range of solid tumors.

Teva recovery gains momentum

Sun, 19 Nov 2017 15:59:28

Despite no major announcements, Teva's share price has risen 23% since it hit a low point after the company's third quarter results.

Apartments sold and rented

Sun, 19 Nov 2017 18:25:17

A selection of recent real estate deals in Israel including in Jerusalem, Tel Aviv, Haifa, Kfar Saba, Sderot and Dimona.

ReWalk raises $7.2m in secondary Nasdaq offering

Tue, 21 Nov 2017 12:28:44

Most of the money is designated for funding the company's upcoming clinical trial for stroke treatment.

AtlasGlobal to operate daily Tel Aviv - Istanbul flights

Mon, 20 Nov 2017 09:57:53

Just two weeks after launching flights to Israel, AtlasGlobal has announced daily flights from December 1.

Court orders PA, terrorists to pay attack victims NIS 62m

Sun, 19 Nov 2017 12:34:52

The ruling relates to a drive-by shooting in August 2001 on Road 443 in which three Israeli Jews were murdered.

Beauty and lifestyle services co Missbeez raises $4m

Sun, 19 Nov 2017 12:02:30

Missbeez is a mobile platform providing a variety of lifestyle and beauty services to busy entrepreneurs.

IDI profit soars; Battery Ventures sells shares

Sun, 19 Nov 2017 10:46:10

IDI Direct Insurance's third quarter profit grew by 112% to NIS 58 million. 

Israel Tax Authority makes claiming disabled child credits easier

Sun, 19 Nov 2017 10:22:20

Parents of disabled children need no longer apply to Income Tax Offices or present medical certificates.

Cyber-risk insurance co At-Bay raises $6m

Fri, 17 Nov 2017 10:33:09

Together with its cyber insurance policy and risk insights, the Israeli company allows clients and brokers to better manage and control cyber risk.

Gastro-intestinal drug co RDD Pharma raises $9.5m

Fri, 17 Nov 2017 10:03:11

The Israeli company will use the new funding to advance programs in anal fissure, fecal incontinence, radiation colitis/proctitis and pruritus ani.

Daimler CEO inaugurates Tel Aviv R&D center

Sun, 19 Nov 2017 09:13:10

The Israeli center's 25 employees will help develop the new generation of Mercedes-Benz autonomous cars, said Dieter Zetsche.

Gov't buys more desalinated water as rains seen failing again

Thu, 16 Nov 2017 17:08:31

With Israel facing a fifth successive drought year, the desalination plants are stepping up output.

Elovitch steps aside as Bezeq chairman

Thu, 16 Nov 2017 15:48:38

However, even though the ISA has recommended indicting him, Elovitch will continue as chairman of Bezeq's subsidiaries, except Yes.

New shekel bills to be issued next week

Thu, 16 Nov 2017 14:58:07

The red NIS 20 bill and orange NIS 100 bill will be issued on Thursday, reports the Bank of Israel.

Israel's economy grew at 4.1% in Q3

Thu, 16 Nov 2017 16:24:33

GDP jumped impressively last quarter after rising at annual rates of only 2.5% in the second quarter and 0.9% in the first quarter.

Africa-Israel bondholders hand co to Saidoff

Thu, 16 Nov 2017 13:44:46

The trustees of three series of bonds announced last night that the majority of bondholders supported Saidoff's offer for the company.

Shekel strengthening as inflation rises

Sun, 19 Nov 2017 10:46:33

The shekel has been boosted by rising inflation and the expectation of interest rate hikes in 2018.

Strauss reports Q3 rise in revenue and profit

Thu, 16 Nov 2017 11:28:03

Strauss CEO Gadi Lesin noted the Group's global growth drivers in the coffee and water companies, along with continued focus on efforts to improve Sabra's results.

Upgraded Negev highway to open next week

Thu, 16 Nov 2017 11:05:35

The 31 kilometer highway between the Shoket Junction and Arad has been one of Israel's most dangerous roads.

Outbrain appoints David Kostman as co-CEO

Thu, 16 Nov 2017 09:32:14

The experienced Israeli will work alongside the content recommendation company's CEO and cofounder Yaron Galai.

Samsung opens Israel car cybersecurity center

Thu, 16 Nov 2017 20:45:45

Samsung unit HARMAN says the new hub will test and certify automotive cybersecurity, autonomous driving and smart mobility technologies.

Idan Ofer buys stake in Atletico Madrid

Thu, 16 Nov 2017 08:37:07

The Israeli businessman is buying 10%-15% at a valuation of $700-750 million for the Spanish soccer club.

Egypt to stop importing gas in 2018

Wed, 15 Nov 2017 21:14:36

The announcement by the Egyptian energy minister eliminates the possibility of exporting Israeli natural gas to Egypt.

Hapoalim Canadian customers say bank aided tax evasion

Wed, 15 Nov 2017 21:12:26

114 taxpayers in Canada's voluntary disclosure program say that the Israeli bank helped them evade taxes.

CPI up 0.3% in October, home prices still rising

Wed, 15 Nov 2017 18:42:08

Price inflation has climbed to 0.6% since the start of 2017, the Central Bureau of Statistics reports.

Court eases travel restrictions on Steinmetz

Sun, 19 Nov 2017 09:34:22

Steinmetz is allowed to travel to Spain, Greece, Germany, the Czech Republic, Belgium, and the Netherlands, and any other country not in Europe or Africa.

Indian group bids for Israeli energy exploration licenses

Wed, 15 Nov 2017 16:52:07

The Energy Ministry has received bids from Energean and an Indian energy consortium for its new round of 24 offshore blocks.

Motorola, Nokia win Israel Railways cellular network tender

Wed, 15 Nov 2017 15:33:36

The companies' wireless communications network will cover all railway traffic in Israel.

Israeli AI log analysis co raises $23m

Wed, 15 Nov 2017 15:21:00

The company has triple revenue and the number of its customers over the past year.

US State Dep't: Israel won't get visa waiver so fast

Wed, 15 Nov 2017 14:30:56

Speaking to "Globes," a State Department spokesperson has poured cold water on the optimism expressed by Justice Minister Ayelet Shaked on a US visa waiver.

Discount Bank reports sharp rise in profit

Wed, 15 Nov 2017 11:03:46

Net profit rose in the third quarter to NIS 313 million, up from NIS 188 million in the corresponding quarter of 2016.

Shekel gains against dollar ahead of Oct CPI reading

Thu, 16 Nov 2017 12:38:51

The shekel continues to weaken against the euro as figures show that growth in the eurozone outstripped US growth in the third quarter.

Nokia to launch 4 smartphones in Israel

Tue, 14 Nov 2017 23:07:42

The new devices featuring the Android operating system will cost NIS 700-2,000.

Teddy Sagi invests NIS 40m in Alltrade

Tue, 14 Nov 2017 23:05:17

Alltrade, which dominates Israel's electronic recycling industry, has canceled its planned TASE IPO.

George Horesh mulls buying Ra'anana land back from Teva

Tue, 14 Nov 2017 18:30:26

If Horesh exercises his option, he is likely to lease the land to Amdocs, which wants to buy it.

Israeli AI job finder co Woo raises $7m

Tue, 14 Nov 2017 17:35:21

The company also announced the launch of “Helena”, a groundbreaking AI-driven headhunter that automatically scouts, approaches and sources the best candidates on behalf of employers.

Medical cybersecurity co Medigate raises $5.35m

Tue, 14 Nov 2017 16:00:13

The Tel Aviv based digital health company secures the use of the millions of connected medical devices on healthcare provider networks.

India's L&T opens Jerusalem development center

Tue, 14 Nov 2017 15:32:12

The engineering services company aims to deepen its involvement in Israel’s startup and innovation ecosystem.

Allergan begins selling 10% Teva stake to JP Morgan

Tue, 14 Nov 2017 15:07:51

Allergan has attached its shares in Teva in favor of the JP Morgan bank as security for a one-year loan of unspecified size.

Elbit Systems reports steady growth, increased backlog

Tue, 14 Nov 2017 14:18:10

Elbit CEO: We see ongoing increases in defense budgets, which we have been able to capitalize on in many of our target markets.

Milchan PA makes new revelations in Netanyahu case

Tue, 14 Nov 2017 13:43:59

Hadas Klein says that the Netanyahus wanted Arnon Milchan's professionals to mend a leak in their house.

Energean mulls IPO to fund Israel gas development - report

Tue, 14 Nov 2017 12:55:58

The Greek energy company is considering raising money in London to fund development of the Karish and Tanin gas fields, reports "Reuters."

Last-minute compromise averts JNF taxation bill

Tue, 14 Nov 2017 11:43:11

JNF chairman Danny Atar agreed contributions to the state budget.

FIMI to take 51% stake in PCB Technologies

Tue, 14 Nov 2017 11:46:46

Ishay Davidi's FIMI Opportunity Funds has signed an MOU to invest NIS 125 million in the Migdal Ha'emek-based electronics company.

Police probe Aeronautics

Tue, 14 Nov 2017 15:53:07

Israeli UAV company Aeronautics is suspected of corruption in a major deal.

New home sales fall

Tue, 14 Nov 2017 10:11:02

The Central Bureau of Statistics reported that 2,144 new homes were sold in September.

Idan Ofer's Pacific Drilling files for bankruptcy

Tue, 14 Nov 2017 10:09:02

The company owes $3 billion, and has only $358 million in cash and cash equivalents.

Kamada heading for $100m revenue in 2017

Mon, 13 Nov 2017 19:00:31

Kamada CEO Amir London is expressing confidence, with the company publishing guidance of $116-120 million in revenue for 2018.

Carasso Real Estate signs first agreement with Chinese contractor

Mon, 13 Nov 2017 18:17:05

BCEG will build 129 housing units and an underground parking lot in Kiryat Ono.

In first, Israel bars EU MPs from entering the country

Tue, 14 Nov 2017 06:30:27

20 French MPs and mayors and EU MPS, engaged in BDS activities, had planned visiting Israel and the Palestinian Authority next week.

LATAM plans Israel - Chile flights

Mon, 13 Nov 2017 17:41:18

There are currently no direct flights between Israel and South America.

Pay pact depresses Mizrahi-Tefahot profit

Mon, 13 Nov 2017 15:55:59

The bank finished the third quarter with a NIS 261 million net profit.

TASE treads water as IPOs offset by cos delisting

Mon, 13 Nov 2017 15:03:07

In the past 11 years the number of companies traded on the TASE has shrunk 30% from 640 to 460.

Battle for Africa-Israel heats up

Sun, 19 Nov 2017 12:48:24

Amos Luzon is the latest bidder for the company.

Israel-Canada raises NIS 100m from Israeli institutions

Mon, 13 Nov 2017 13:59:51

The allocation to Menorah, Psagot, Israel Phoenix, Safra, and Noked Capital is at a 6% discount.

Kadimastem down 90% in 2017

Mon, 13 Nov 2017 13:02:34

Shares in Kadimastem, which is developing a stem-cell based therapy for ALS, dropped 28% in one day.

Kamada agrees 3 new directors with Brosh Capital

Mon, 13 Nov 2017 11:42:19

Activist fund Brosh Capital owns 7.2% of Kamada.

Court fines Siemens Israel NIS 63m for conspiracy

Mon, 06 Nov 2017 15:03:49

Siemens Israel admitted to paying $9.5 million in bribes to Israel Electric Corp. executives between 1999 and 2004.

Isaac Molho named as latest person questioned in submarines affair

Tue, 07 Nov 2017 10:08:08

Adv. Isaac Molho has served as a special diplomatic envoy of Prime Minister Benjamin Netanyahu and is a partner of Adv. David Shimron.

Israel's foreign exchange reserves keep climbing

Tue, 07 Nov 2017 16:03:36

The Bank of Israel purchased $260 million in foreign currency in October as the reserves reached a new record.

Histadrut declares work dispute over nursing care insurance

Tue, 07 Nov 2017 18:37:32

Economic sanctions can begin in two weeks, including in Israel's state education system.

Foresight's Rail Vision mulls Nasdaq IPO

Wed, 08 Nov 2017 17:51:21

Rail Vision warns train drivers about objects two kilometers away using image processing technology.

Analysts cut targets as Wix plunges

Mon, 13 Nov 2017 11:44:40

$628 million evaporated from the Israeli DIY website company's market cap in three days.

Israel close to visa waiver agreement with US

Mon, 13 Nov 2017 15:02:59

Minister of Justice Ayelet Shaked: We have found the balance between protecting the privacy of Israeli citizens and US requirements.

Tax Authority toughens rules on Israelis relocating abroad

Tue, 14 Nov 2017 10:21:44

Even Israelis residing overseas for three years are being required to pay tax in Israel on their income during that period.

Hapoalim probes sexual harassment complaints

Sun, 12 Nov 2017 21:09:05

After the criticism of Bank Hapoalim's handling of the affair with Zion Kenan, it appears the bank is trying to learn lessons from the event.