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Globes
Hebrew business daily covering markets, companies and the economy. We translate its reports into English and compare them with 43 other newsrooms.
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Language and baseHebrew · Rishon LeZionFounded 1983
The last 30 days
833reports translated
75%first to report
140 mintypical time behind the first report
100%carry a named author
0%opinion and analysis
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How Globes writes
Globes's tone this month is neutral. On the United States, Netanyahu, the Bank of Israel, the police and the Knesset its wording is in step with the other newsrooms.
From 792 reports this month, judged without the newsroom's name. How this is measuredOnly Globes had it
European Aviation Grapples With Bomb Threats Amid Security WeaknessesSecurity · 1h agoIsrael's Shared Taxi Service Collapses Amid Failed ReformSecurity · 4h agoSamsung's Galaxy Tab S12 Ultra: A Powerful Tablet That Questions Its Own ValueTech · 4h agoBig stories Globes skipped
Israel Strikes Hamas Commander at Gaza Hospital, Cites Hostage DetentionCovered by 21 newsroomsIsrael's Attorney General Ordered to Appear in Netanyahu TrialCovered by 20 newsroomsPresident Herzog Mediated Early Talks for Netanyahu-Eisenkot Security MeetingCovered by 17 newsroomsLatest from Globes
Economy · 8h agoBat Yam Apartment Sold at a Loss Amidst Market ShiftA 2.5-room apartment in Bat Yam was sold for 1.62 million shekels, a loss for the sellers who bought it for 1.66 million in 2022. The sellers recognized market conditions and accepted a lower offer to upgrade their own home. The buyers are a young couple investing in the property, which is part of a building undergoing urban renewal. A local real estate agent noted a market recovery in Bat Yam with increased interest from local and international investors.Economy · 1d agoBezeq Seeks to Grant $10 Million in Stock Options to Two Senior ExecutivesBezeq is seeking shareholder approval to grant stock options worth approximately NIS 10 million to Chairman Tomer Ra'abad and CEO Nir David. The options will vest over three years, with exercise prices set based on market conditions. The company cited the executives' contributions to strategic initiatives and business success as justification for the proposed grants. Shareholders will vote on the proposal on December 21.Economy · 1d ago · also in 5 newsroomsArkia Employees Seek New Investor to Block Sale DealArkia's employees are attempting to find a new investor to submit a competing bid for the airline before a Monday deadline, aiming to protect their stake. The current deal, signed by the Nakash brothers with a group led by Kidyan Dahari and Yaron Adib, involves a $45 million capital injection but faces challenges due to Arkia's projected significant losses. The employees' union is negotiating with potential investors to secure their future and share in the company.Economy · 1d agoNew Tax Law Crushes Small Commercial Real Estate InvestorsA new Israeli tax law, the "trapped profits" law, is severely impacting small and medium-sized commercial real estate investors. The law forces companies to pay annual taxes on undistributed profits or distribute dividends, significantly reducing net returns to below 3%. This is causing financial hardship, eroding equity for developers with bank loans, and is expected to lead to market consolidation favoring large corporations.Economy · 1d ago · also in 2 newsroomsUnassuming Investors Poised to Acquire Arkia AirlineA group of Israeli businessmen, including Yariv Lerner, Yaron Adib, Kidyan Dahari, and Einav Adib-Berrer, are reportedly set to acquire the airline Arkia. While not known for aviation experience, the investors have a strong track record in revitalizing distressed companies. Lerner has led turnarounds at Wecom and Negev Ceramics, while Adib and Dahari have successfully managed real estate ventures. Adib-Berrer has a history of entrepreneurial success, including founding a diaper company and a private medical center.Economy · 1d agoIsraeli Investors Buy Nvidia Stock Amid CEO's Departure and Spy AllegationsIsraeli retail investors aggressively bought Nvidia stock on Thursday, viewing a 4.3% price drop as a buying opportunity, despite allegations surrounding founder Jensen Huang. One-third of trades at investment house IBI involved Nvidia, with 85% being buy orders, signaling optimism for recovery. This contrasts with some Wall Street analysts who have downgraded the stock, though most maintain positive ratings.Economy · 1d agoTenant Representative Body Exceeded Authority in Choosing Lawyer, DeveloperThe Urban Renewal Authority ruled that a tenant representative body in Ra'anana exceeded its authority by selecting a lawyer, managing the developer selection, and appointing an appraiser without explicit owner consent. Superintendent Naama Urbach Fox stated that a representative body acts only as a coordinator and cannot make substantive decisions or choose professionals without proper authorization. The ruling also clarified that retroactive owner approval does not legitimize actions taken without proper authority at the time.Economy · 1d agoIsrael Launches New Housing Tender in Arab Towns After Past FailuresIsrael has issued new tenders for 870 subsidized housing units in Kafr Qasim, Jaljulia, and Kafr Bara, following multiple past failures to attract developers. Previous tenders for over 2,100 units in these towns since May 2023 received no bids. Experts cite competition and market mismatches as reasons for the failures, exacerbated by current economic conditions and the ongoing war.Economy · 1d agoSkoda's New Electric Crossover Aims for Practicality Amidst Market ChallengesSkoda has launched its new electric crossover, the Elroq, in Israel, aiming for practicality in a shrinking EV market dominated by Chinese brands. Priced from 183,000 shekels, the Elroq offers a conservative design, comfortable interior, and a 400 km real-world range, but faces stiff competition from more affordable and better-equipped Chinese models. The vehicle is positioned as a sensible choice for consumers wary of Chinese EVs or prioritizing function over size.Economy · 1d agoNvidia's Impact Drives Israeli Economic Growth FiguresIsrael's economic growth figures are heavily influenced by Nvidia's activities, particularly through its acquisition of Mellanox. Without Nvidia's contribution, the country's GDP growth would be significantly lower, impacting policy decisions and international forecasts. For instance, growth was 3.5% last year, but only 2.1% without Nvidia. This reliance has led to concerns regarding potential impacts from recent developments at the tech giant.Economy · 1d agoTel Aviv Stock Exchange Opens Amid Global Uncertainty and Tech Sector VolatilityThe Tel Aviv Stock Exchange is opening amidst global uncertainty, including developments at Nvidia, a potential Tesla-SpaceX merger, and geopolitical tensions. Investors are reacting to Wall Street's volatility and rising U.S. Treasury yields. Dual-listed stocks offer slight support, while individual stocks like Next Vision and Delta Galil showed positive movement yesterday. Asian markets are mixed, and the Japanese yen is weakening against the dollar. U.S. futures point to a negative opening, following yesterday's declines on Wall Street.Economy · 1d ago · also in 1 newsroomNvidia Employees in Israel Fear Stock Option Losses Amid CEO ScandalNvidia employees in Israel are facing significant financial losses and anxiety as the company's stock plummets following revelations about CEO Jensen Huang's personal conduct. Huang admitted to extramarital affairs, leading to a stock drop of approximately 12% this week and 30% since October. Many of the 6,000 Israeli workers, who have benefited greatly from equity compensation, are now seeing hundreds of thousands, or even millions, of dollars in paper losses.Economy · 1d agoIsraeli Retailer Osher Ad Masters Consumer Frenzy with Squishy Toy BundlesIsraeli supermarket Osher Ad is experiencing a surge in demand for squishy toys resembling popular brands, with a pricing strategy that limits purchases by increasing the cost of additional units. Meanwhile, a senior Israeli Tax Authority official, Nili Ben Tovim, defended a proposed new tax on flights, sparking a debate about its potential impact on consumers and industries.Economy · 1d agoChinese Car Importers Signal End to Price Wars with 2027 IncreasesChinese car importers have notified Israeli leasing companies of price increases set to begin in early 2027. This shift is driven by China's decision to reduce VAT rebates on electric and hybrid vehicle exports starting April 1, 2027. The move aims to curb aggressive pricing and establish higher export bases, impacting more affordable Chinese models significantly. Despite the policy change, substantial existing inventories in Israel may delay the full effect of price hikes until later in 2027.Economy · 1d agoMizrahi Tefahot Bank Ad Dominates Recall RankingsMizrahi Tefahot Bank's new advertising campaign, featuring actresses Gia Beer Gurvitz and Dvir Bendek, has topped the weekly recall rankings. The ad promotes the bank's offer to fund children's activities up to NIS 1,000 annually. "Insurance 9" starring Oudi Kagen remained the most popular ad for a second week. Total advertising investment rose to NIS 91 million this week, with Cal and One Zero leading spending.Economy · 1d ago · also in 2 newsroomsNew Arkia Owners Face Labor Dispute and Deep Financial WoesThe Nakash family is selling its controlling stake in Arkia airline for an estimated NIS 40-50 million to a group led by Kidyan Dahari and Yaron Adib. The new owners face an immediate labor dispute declared by the Transport Workers Union and deep financial losses, projected at $50-60 million for the year. An aviation expert believes the investors will stabilize the company short-term but warns of long-term challenges in achieving profitability and improving service quality, noting the buyers' lack of industry experience.Economy · 2d agoAonix Reports Strong Revenue Growth Fueled by Israeli Acquisitions, Despite Net LossAmerican defense firm Aonix reported third-quarter revenues of $167 million, exceeding analyst expectations due to acquisitions in Israel. Despite revenue growth, the company posted a net loss of $62.6 million. Aonix projects significant revenue increases for 2026 and 2027, aiming for positive EBITDA by Q3 2027. The company has appointed former Mossad chief David Barnea to a senior role.Economy · 2d ago · also in 10 newsroomsNakash Family Sells Control of Arkia Airlines for $45 MillionThe Nakash family is selling its controlling stake in Arkia Airlines for $45 million to a new group of investors including Kidon Dahari, Yaron Adib, Yariv Lerner, and Einav Adib-Berrer. The deal includes a $30 million investment from the buyers, $8.5 million from the Nakash brothers, and $7.8 million from the state. Arkia has incurred significant losses due to rising fuel costs, and the airline's employees are currently opposing the sale. The new owners aim to stabilize the company and improve its operations.Economy · 2d ago · also in 8 newsroomsArkiea Workers Declare Labor Dispute Amidst Sale UncertaintyThe Transport Workers Union declared a labor dispute at Arkiea airline due to unilateral actions by owners, including job cuts and route cancellations, raising fears of insolvency. The union criticized the owners for not advancing a potential sale, stating employees are not bargaining chips. The union vowed to prevent workers from being held hostage in ownership disputes.Economy · 2d agoTax Authority Official Sparks Debate Over Proposed Flight TaxNili Ben-Tovim, a senior official at the Israel Tax Authority, defended a proposed tax on flights, sparking widespread debate online. The proposed tax, intended to address environmental and noise pollution, could add up to NIS 100,000 per flight, translating to an estimated NIS 12-274 per passenger. Critics argued the tax would harm the economy and tourism, while Ben-Tovim explained it addresses un-taxed environmental externalities. She also shared data indicating the tax burden falls heavily on the wealthiest Israelis, prompting further discussion on retaining high earners.Economy · 2d ago · also in 1 newsroomTaiwan Eyes Israeli Public Transport Market Amidst Chinese InfluenceTaiwan's Deputy Minister of Foreign Affairs, François Wu, expressed interest in entering Israel's public transportation market, potentially challenging China's significant existing role. Taiwan offers advanced public transport experience, including high-speed rail and metro systems, and its companies are active in providing technological solutions. This move comes amidst increasing U.S. pressure against Chinese involvement in Israeli infrastructure projects. Taiwan's potential entry is seen as a visible sign of strengthening ties between Taiwan and Israel.Economy · 2d agoTel Aviv New Apartment Sales Plummet 60%, Haifa Leads MarketNew apartment sales in Tel Aviv plunged 60% in Q3 2026, leading to a 5% rise in unsold inventory. Haifa unexpectedly took the top spot in total property transactions for the first time, driven by new construction and a strong second-hand market. Nationwide sales fell 6% in the quarter, with subsidized housing making up a significant portion of new sales, indicating market stagnation.Economy · 2d agoHachshara Insurance Confirms Entry Into Provident Funds MarketHachshara Insurance confirmed its intention to enter the provident funds market, with its subsidiary applying for a license from the Capital Markets Authority. The company, owned by Eli Elezra and managed by Shimon Miron, aims to manage NIS 50 billion in assets within four years. This move marks the first significant new entrant into the market in years, as the sector's assets have grown to NIS 1.1 trillion.Economy · 2d agoDollar Strengthens Against Shekel Due to Global Uncertainty and Bank of Israel Policy ShiftThe US dollar has strengthened against the Israeli shekel, reaching near 3.2 shekels per dollar, driven by global uncertainty and a policy shift by the Bank of Israel. The central bank's decision to cut interest rates and purchase foreign currency, alongside global rate hikes, has weakened the shekel. The dollar's safe-haven status is also a major factor. Hedging costs have quadrupled, impacting investor behavior, with expectations pointing to a continued weaker shekel in the low 3s.Economy · 2d ago · also in 1 newsroomCal CEO Seeks Extension for Discount Bank's Share SaleCal CEO Yafit Grani met with Ministry of Finance Director General Israel Meilach to request an extension for Discount Bank's sale of its 72% stake in Cal. The original deal with Union-Harel collapsed due to regulatory issues, and the bank has struggled to secure approval. Concerns remain about Cal's valuation and the political climate, complicating the sale process.Economy · 2d agoNvidia Stock Plunge Hits Israeli Institutional Investors HardNvidia's stock has plummeted 32.5% from its peak due to reports concerning CEO Jensen Huang, impacting global markets. Israeli institutional investors, including Menora Mivtachim and Harel Investments, face significant paper losses totaling hundreds of millions of dollars. Despite the downturn, some firms like Harel and Phoenix increased their Nvidia holdings in the third quarter.Economy · 2d agoWolt Israel CEO Aims for Dominance in All Israeli PurchasesTomer Cohen, the new CEO of Wolt Israel, aims to expand the delivery service into a comprehensive retail platform, making it the first choice for all Israeli purchases. The company is focusing on non-restaurant deliveries, including groceries and other goods, and is working to adapt its services for the Arab and Haredi communities. Wolt Israel is also a hub for innovation within its parent company, DoorDash, and is navigating challenges such as courier relations and road safety.Economy · 2d agoEfi Nechasim Reports 15% Net Profit Rise Despite Slow Apartment SalesEfi Nechasim reported a 15% increase in net profit for the third quarter of 2026, reaching NIS 512 million, despite selling only four apartments at its Tel Aviv Landmark project during the quarter. The company's net operating income and AFFO also saw significant year-over-year growth. While Tower B of the Landmark project nears completion with most office space leased, apartment sales have been slow, with only 15 units sold year-to-date. The company's overall financial performance was boosted by European projects and existing property improvements.Economy · 2d agoFormer Executive Dalia Feldheim Advocates for Empathetic LeadershipDalia Feldheim, a former executive, is promoting a leadership style centered on empathy and relationship-building, as detailed in her book "Dare to Lead Like a Girl." Her philosophy contrasts with demeaning management styles she experienced, advocating for "soft skills" crucial for modern business. Feldheim's career includes impactful campaigns for Always, and she now consults for major tech companies, emphasizing human connection and "Return on Interaction" for organizational success.Economy · 2d agoAssaf Eldar Tapped as New CEO of Direct Insurance (IDIA)Assaf Eldar has been appointed the new CEO of Direct Insurance (IDIA), replacing Kobi Haber. Eldar, previously deputy CEO at Discount Bank, will lead the largest property and casualty insurer in Israel. The company emphasizes direct customer engagement and digital methods to reduce costs.Economy · 2d agoNvidia's Israel Campus Future Uncertain Amid CEO Transition RumorsNvidia's extensive development center and real estate plans in Israel may be affected by potential leadership changes at the company. CEO Jensen Huang, known for his pro-Israel stance and expansion of the Israeli R&D operations, is reportedly facing possible ouster. Nvidia has invested in land in Tivon for a new campus costing hundreds of millions of shekels and has secured significant leases in Yokneam, with construction expected to conclude in 2028. The company also maintains offices in Tel Aviv and Be'er Sheva.Economy · 2d agoInternational Bank Executive Ron Grisero to DepartRon Grisero, Senior Vice President and Head of the Retail Division at International Bank, announced his resignation on Thursday, concluding a decade-long tenure. He was responsible for key retail operations and led digitalization efforts. His departure adds to a recent wave of senior banking executives leaving their positions in Israel, including Clara Tzabar'el from Bank Hapoalim.Economy · 2d agoGlobal Tech Turmoil, Nvidia Scandal, and Israeli Market ReactThe Israeli stock market is bracing for a volatile opening, influenced by global declines triggered by potential leadership changes at Nvidia and concerns over the AI industry. Yesterday, the Tel Aviv Stock Exchange closed mixed, with the TA-35 index down and TA-90 up. In bond markets, Israeli government bonds saw rising yields, indicating expectations of sustained high interest rates. The dollar strengthened against the shekel due to higher US inflation data, impacting the local currency's stability.Economy · 2d agoIsraeli Apartment Buildings Face High Costs for Lobby StaffResidential buildings in Israel face monthly costs of NIS 58,000 to NIS 70,000 for lobby reception and concierge services, which are often mistaken for security. These expenses, excluding VAT, are distributed among residents, with smaller buildings bearing a significantly higher per-unit cost. Experts note that the role has evolved beyond basic security to include extensive resident services, with costs increasing due to rising wages and demand for higher service levels. Legal frameworks ensure these agreements are binding, and changes require resident assembly approval.Economy · 2d agoBeyond Money Market Funds: Where to Find Higher Returns Amidst Market DeclinesAmidst stock market declines, investors are exploring alternatives to money market funds (MMFs), which currently offer about 3.3% annual yield. Managed bond funds have shown lower returns, with higher management fees and potential additional costs. While expected capital gains from interest rate cuts in bond funds were limited, some bond funds with specific maturity dates now offer yields around 4.65%. Other options include corporate bond funds and fixed-rate bank deposits, with yields varying based on risk and terms.Economy · 2d agoBarzani Infrastructure Company Completes $270 Million IPO, Eyes $930 Million Project PipelineY.D. Barzani, an Israeli infrastructure firm, has completed an IPO valuing it at 2.25 billion shekels, raising approximately 1 billion shekels from investors. The company aims to reach 3.5 billion shekels in annual revenues by 2029, fueled by state infrastructure investments. The funds will support operations, acquisitions, and expansion. The IPO comes despite a recent market slowdown.Economy · 2d agoMedical Student Quits Studies to Teach Financial PlanningTomer Eliyahu, 33, abandoned his medical studies to establish 'Simply Invest,' a financial education company for families. Motivated by childhood financial struggles and his father's loss of pension savings, Eliyahu aims to demystify investing. He advocates for index investing and long-term strategies, believing financial knowledge is key to future security.Economy · 2d agoRevolut Seeks Israeli Talent for New Bank Amidst Hiring BlitzFintech firm Revolut is aggressively hiring in Israel for its new bank after receiving a conditional license from the Bank of Israel. The company is seeking professionals with experience in banking, regulation, fraud, operations, and cyber security. While specific salaries are undisclosed, industry estimates place potential monthly earnings between NIS 15,000 and over NIS 45,000 depending on the role. Revolut, not bound by Israeli banker salary caps, can offer competitive compensation, potentially drawing talent from local banks that are also undergoing workforce adjustments.Economy · 2d agoIsraeli Tech Firm MAIND CTI to Be Acquired for $25.4 MillionIsraeli tech firm MAIND CTI is being acquired by Canadian company Enghouse Systems for $25.4 million, representing a 49% premium on its share price. Founded over 30 years ago by Monica Yanco, the company provides billing and customer service solutions for telecom firms. Yanco cited the high costs and administrative burden of being a public company, along with a declining telecom market, as reasons for the sale. The acquisition is subject to a 30-day go-shop period, and Enghouse Systems plans to retain MAIND CTI's Israeli workforce.Economy · 2d agoTeva CEO Sees Bright Future, Eyes Larger AcquisitionsTeva's President and CEO Richard Francis announced a promising future for the company, projecting innovative drug revenues to reach $6-7 billion by 2030. He highlighted Teva's transformation into a biopharma company and positive feedback from investors at a recent R&D day. Francis also indicated that Teva is exploring larger acquisitions and will continue to invest in its generics and biosimilars business.Economy · 2d agoVictory Supermarket Owner Eyal Ravid Seeks Stake in Carrefour IsraelEyal Ravid, owner of the Victory supermarket chain, is attempting to purchase 30% of Carrefour Israel's operating company as part of an upcoming share offering. The deal, which involves current shareholders like Electra Consumer Products, could allow Ravid to become a dominant shareholder. However, the negotiation process and the preference of existing shareholders for institutional investors present significant hurdles. The offering's structure is still being finalized, with no definitive agreements yet in place.Economy · 2d agoIsrael's Delivery Services Face Rising Costs and Potential Price HikesIsraeli delivery companies are grappling with rising operational costs due to increased package volumes, fuel prices, driver shortages, and international shipping disruptions. Profit margins are slim, leading to concerns about potential price hikes for consumers. Companies are implementing various strategies to manage the challenges, including automation and exploring alternative delivery models.Economy · 2d agoChinese Investment Fund Pays Kibbutz Hanita $6 Million for Lens Company SharesChinese investment fund Ballet Vision paid approximately $6 million to Kibbutz Hanita for the remaining shares in Hanita Lenses, making the fund the sole owner. The settlement resolves a legal dispute over control of the company, which produces intraocular lenses. The kibbutz sought funds for rehabilitation after two difficult years near the northern border due to the "Swords of Iron" war.Economy · 3d agoHachshara Insurance to Enter Israel's Pension MarketHachshara Insurance is set to enter Israel's 1.1 trillion shekel pension market, aiming to manage 50 billion shekels within four years. The company plans to leverage its insurance agent network and existing savings policy business to attract clients. This move comes amid significant growth in the sector and potential regulatory changes that could impact fund management and client retention. Hachshara's entry follows similar recent expansions by other insurance firms into the competitive market.Economy · 3d agoPoland Cancels Multi-Billion Euro Gas Contract with Qatar Over Hormuz DisruptionsPolish energy firm Orlen has canceled a multi-billion euro LNG contract with QatarEnergy, citing "force majeure" due to disruptions from the Strait of Hormuz closure. While another contract remains, the cancellation highlights reduced Qatari gas exports and increased shipping risks. Orlen will increase imports from Norway and the U.S., assuring no impact on its regular supply.Economy · 3d ago2,850 New Apartments Approved in Three Israeli CitiesIsrael advanced plans for approximately 2,850 new apartments across three cities this week, with major projects approved in Bat Yam and Ramat Gan, and another slated for Eilat. These developments aim to significantly increase housing stock while incorporating commercial spaces and public amenities. In a separate ruling, the Supreme Court delayed by one year the implementation of a new safety regulation for construction sites, a decision met with mixed reactions regarding worker safety and industry capacity.Economy · 3d ago · also in 4 newsroomsIsraeli Mortgage Market Hits High in October Amidst Slowing Property SalesIsrael's mortgage market reached NIS 9.3 billion in October, a high for housing loans, despite a 40% drop in transaction pace compared to 2021. The total mortgage volume for the year is NIS 97.5 billion, up 14% from last year. Borrowers are increasingly opting for 'prime' loan tracks, while indexed loans are at a low. The strong mortgage market is attributed to past deals and financing offers, not current property sales.Economy · 3d ago · also in 5 newsroomsUS-Israeli Venture Fund Vine Ventures Raises $236 MillionUS-Israeli venture capital fund Vine Ventures has raised $236 million for its third fund, bringing its total assets under management to over $500 million. The fund, with offices in the US and Israel, plans to allocate half of the new capital to Israeli technology companies. Vine Ventures has previously invested in prominent startups like AI firm Wonderful and cybersecurity company Ryber.Economy · 3d agoCaesarstone Faces Going Concern Warning After Major Lawsuit LossCaesarstone has issued a "going concern" warning after losing a major lawsuit in California, resulting in a $46.8 million liability and a $56.1 million net loss for the third quarter. The company disputes the verdict and is involved in hundreds of similar lawsuits. Despite these challenges, Caesarstone reported improved gross profit and near-balanced adjusted EBITDA, driven by cost-saving measures, while revenue saw a slight decline.Economy · 3d ago · also in 1 newsroomAshtrom in Talks to Sell Fifth of Rental Operations to Clal InsuranceAshtrom is in talks to sell 20% of its rental operations to Clal Insurance, while a separate deal to sell 20% to Migdal has been delayed by 30 days. The Migdal deal, valued at NIS 451 million, was originally set to close with partial payment by November 11. Ashtrom Residential Rentals manages over 3,200 apartments and is developing new projects. The company's strategy is to sell off parts of its rental operations to institutional investors.Economy · 3d ago · also in 3 newsroomsBank Leumi Invests $100 Million in US Real Estate Firm Harbor GroupBank Leumi's real estate arm, Leumi Partners, has invested $100 million in US firm Harbor Group International, valuing the company at $1.28 billion. This investment provides Leumi Partners with an initial 8% stake in the multifamily housing sector. Harbor Group manages a significant portfolio and plans to triple its assets to $60 billion. The deal occurs during a challenging but potentially improving market for US real estate.Economy · 3d agoShikun & Binui Real Estate Appoints Alona Arieli Lahav to Lead Marketing and SalesAlona Arieli Lahav has been appointed Deputy CEO of Innovation, Marketing, and Sales at Shikun & Binui Real Estate. She will oversee marketing strategy, sales, customer relations, and innovation. Arieli Lahav brings extensive experience from previous roles at Aviv Melisron, Aura, Psagot, and Tnuva. The company's CEO stated her appointment will significantly contribute to its growth.Economy · 3d ago · also in 4 newsroomsIsraeli AutoTech Firm Innoviz to Lay Off Quarter of WorkforceIsraeli auto-tech firm Innoviz is laying off about 25% of its workforce, impacting over 90 employees. This is the third round of job cuts for the company in recent years. Innoviz is expanding its focus to the defense sector, particularly drone detection, integrating its LiDAR technology. The company, led by CEO Omer Keilaf, is publicly traded on NASDAQ.Economy · 3d agoBuyers Sue Developer for $1.6 Million Over Delayed Apartments in Bat YamTwenty apartment buyers in Bat Yam are suing their developer for 6.5 million shekels due to significant delivery delays. The buyers claim the project was already behind schedule before the "Swords of Iron" war, which they argue the developer is using as an excuse. An Iranian missile strike in June 2025 further damaged the site, causing additional delays. The developer claims force majeure due to the war and labor shortages, but buyers dispute this, pointing to pre-war delays and insufficient mitigation efforts.Economy · 3d agoBusinessman Tzachi Abu Seals Major Deals in Real Estate and EnergyBusinessman Tzachi Abu's company, Ari Real Estate, is acquiring a 407-dunam industrial site in Be'er Sheva for 110 million shekels and selling a 50.1% stake in the "Orot Yitzhak" power station for 370 million shekels. The Be'er Sheva deal includes leasing back factory sites to the sellers, Adama and Lycored, for an annual rent of 7.7 million shekels. The power station sale values the project at up to 1.46 billion shekels, with potential for an additional 180 million shekels payment.Economy · 3d ago · also in 2 newsroomsTel Aviv Stock Exchange Profits Surge 37% Amidst Trading BoomThe Tel Aviv Stock Exchange (TASE) reported a 37% increase in net profit for the third quarter, reaching approximately 68 million shekels, driven by a 19% rise in revenues to 175 million shekels. Trading volumes surged 52% in the first nine months, and the IPO market saw 21 new listings. The TASE stock has also seen significant gains.Economy · 3d ago · also in 2 newsroomsRafael Expands Haifa Science Park Presence With $8.5 Million LeaseDefense contractor Rafael is expanding its presence in Haifa's Science and High-Tech Park by leasing an additional 4,000 square meters for NIS 32 million over five years. This brings Rafael's total leased space to 10,000 square meters. The expansion is expected to create hundreds of new jobs in Haifa. The deal is part of Rafael's ongoing growth and development.Economy · 3d agoIsraeli Billing Software Firm Maynd Acquired for $25.4 MillionIsraeli billing software company Maynd has agreed to be acquired for $25.4 million by Canadian firm Enghouse Systems, with its stock jumping over 40% on the news. The deal, approved by both companies' boards, offers shareholders a significant premium and is expected to close in early 2027. Maynd's founder and largest shareholder, Monica Yanco, supports the acquisition, citing the benefits of no longer being a public company. Orly Sorokin has been appointed as the new CEO, while Yanco will remain Chairman.Economy · 3d ago · also in 1 newsroomUS Inflation Surprise May Delay Israeli Interest Rate CutU.S. inflation data showing a 0.4% rise in October, exceeding forecasts, may prompt the Federal Reserve to raise interest rates further. This development could complicate the Bank of Israel's decision on whether to cut its own interest rate, currently at 3.25%, at its upcoming meeting. While the U.S. market anticipates more hikes, Israel has been considering a cut. The widening interest rate gap could weaken the shekel, but other factors like oil prices and stock market performance also influence the Israeli currency.Economy · 4d agoAltshuler Shaham Splits Communications Teams Post-AcquisitionAltshuler Shaham is splitting its communication teams following its acquisition by WeSure GlobalTech and Yair Levinstein. The new entity's PR will be handled by Kelli Imer Sini and Zamir Dahbash's firm, while the public activities will continue with Gilad Altshuler, Ran Shaham, and Itay Ben Horin's firm. This move prepares the company for its post-acquisition structure. The split comes amid attention on Itay Ben Horin's wife's appointment to the Finance Committee.Economy · 4d ago · also in 1 newsroomMekorot to Upgrade Water Systems in Kazakhstan's Abai RegionIsraeli water company Mekorot signed a deal to upgrade water systems in Kazakhstan's Abai region. The agreement, expected to bring in tens of millions of dollars, aims to improve water management and infrastructure in the vast, sparsely populated desert province. Mekorot will focus on digital enhancements and operational efficiency, building on previous work in Almaty.Economy · 4d ago · also in 4 newsroomsOsem-Nestle Invests Tens of Millions in New Protein and Fiber Enriched Product LineOsem-Nestle is investing tens of millions of shekels to launch PRO FIBER, a new line of products enriched with protein and fiber. The initiative will expand to include a wide range of popular Osem products by 2027. This move follows competitors Strauss and Tnuva into the growing health-focused food market, aiming to bridge a consumer knowledge gap about nutritional needs.Economy · 4d ago · also in 5 newsroomsOnline Shopping Surges During 'Shopping IL' Event, Hurting Brick-and-Mortar StoresIsrael's "Shopping IL" event, powered by Google, led to a significant increase in online sales across various retail sectors, while physical store transactions declined. The cosmetics and computer sectors saw substantial growth, with online transactions driving the surge. Consumers also boosted tourism sales, but the fashion industry experienced a dip as shoppers await deeper discounts later in November.Economy · 4d ago · also in 4 newsroomsTax Implications for Heirs of Seniors in Urban Renewal Projects ClarifiedThe Israel Tax Authority has clarified that heirs of seniors in urban renewal projects will only receive tax benefits if the senior dies after the "sale day" when tax liability is finalized. If the senior dies before this date, heirs are assessed based on their own eligibility, not the senior's unique benefits. This ruling impacts numerous urban renewal projects and the tax treatment of inherited properties.Economy · 4d ago · also in 1 newsroomSonol, Afcon, Pantalight to Build Power Plant With Over $1 Billion InvestmentSonol, Afcon, and Pantalight will jointly build a 900-megawatt power plant in Haifa Bay with an investment exceeding 4 billion shekels. The project also includes plans for a data center and energy storage, though the latter may face delays. This venture marks a significant step for Sonol into power generation and aims to meet Israel's increasing energy demands.Economy · 4d ago · also in 1 newsroomDan Bus Company Workers Declare Labor Dispute Over Hiring PracticesThe Transport Workers Union has declared a labor dispute with the Dan bus company, protesting management's unilateral hiring of contract drivers under different terms. The dispute involves about 2,300 employees and threatens potential organizational actions. This comes as a consortium led by Dan's CEO recently acquired a 57% controlling stake in the company.Economy · 4d ago · also in 2 newsroomsCal Credit Card Company Reports 10% Net Profit Rise in Q3Credit card company Cal reported a net profit of 99 million shekels in Q3 2026, a significant recovery from a loss last year, with adjusted profits up 10%. Revenues increased 2% to 889 million shekels, while total expenses decreased significantly due to the absence of one-time charges. For the first nine months, net profit surged to 281 million shekels. The company is undergoing strategic changes, including launching a new loyalty program and facing the expiration of a major acquisition deal.Economy · 4d agoGlobal Markets Surge on Tech Rebound, Oil Dips Amid Diplomatic HopesGlobal stock markets are experiencing a significant rally, led by a strong recovery in technology stocks, particularly chip manufacturers, following recent volatility. Oil prices have dropped sharply amid hopes for a US-Iran diplomatic resolution, while the Israeli Shekel has strengthened against the dollar. Investors are closely watching upcoming US inflation data and Federal Reserve signals, with mixed opinions on the drivers of inflation and future interest rate policy. Investment bank Citi has downgraded the tech sector to neutral, advising caution.Economy · 4d agoAsian Markets Surge, South Korea's Kospi Halts Trading Amidst DemandAsian stock markets surged Tuesday, led by South Korea's Kospi index, which experienced a temporary trading halt due to high demand. U.S. markets also showed recovery after a significant sell-off, with chip stocks rebounding except for Nvidia. Oil prices continued to fall amid hopes for diplomatic solutions to the U.S.-Iran conflict. In Tel Aviv, dual-listed stocks were expected to open with a positive gap, with chip-related companies showing recovery.Economy · 4d agoNew York Real Estate Developer Exits Tel Aviv Stock Exchange EarlyNew York-based real estate firm Aya New York, owned by Amir Shriki, has fully redeemed its bonds and delisted from the Tel Aviv Stock Exchange less than a year after its NIS 292 million offering. The company faced multiple failed IPO attempts, issues with bondholders over asset liens, and a lawsuit from Value Base. Shriki cited a negative market sentiment towards American companies and a misunderstanding of the Israeli market as reasons for the early exit. Aya New York will now focus on its US operations, including acquiring distressed assets and launching a hotel chain.Economy · 4d agoInvestment Advisor Sees Rare Opportunity Outside StocksSenior investment advisor Tzali Kfir sees a rare opportunity in bonds from major technology companies, offering yields of 5-6% due to their AI investments. She advises investors to filter out market noise and focus on financially sound companies like Microsoft, Google, Apple, and Nvidia. Kfir suggests diversified portfolios, recommending index funds for smaller investors and expressing caution regarding Israeli real estate stocks amidst political uncertainty.Economy · 4d agoBillionaire Dispute Nears 16-Year Mark Amid Arbitrator ResignationA nearly 16-year-old billionaire dispute between Dan Gertler and the Gertner brothers is stalled after arbitrator Eitan Ornstein resigned, leaving key financial issues unresolved. Ornstein's April award ordered Gertler to pay $85 million plus interest, now totaling around $300 million. Gertler had sought Ornstein's disqualification, citing bias. Ornstein's resignation occurred as police concluded an investigation into him and Afi Noeh regarding judicial appointments.Economy · 4d ago · also in 1 newsroomBank of Israel Weighs New Measures as Contractor Financing Deals SurgeContractor financing deals for homebuyers are surging in Israel, with 45% of September sales including such benefits, nearing pre-restriction levels. The Bank of Israel, concerned about risks to buyers, developers, and the banking system, is reviewing its temporary directive, which expires in about six weeks. Despite the incentives, apartment sales remain stagnant, and experts caution about amplified financial risks for all parties involved.Economy · 4d ago · also in 1 newsroomIsrael Tax Authority Proposes Higher Tax on Retained EarningsThe Israel Tax Authority is proposing to increase the mandatory dividend payout from 6% to 8% for companies under the "trapped profits" reform, which began in January 2025. This move is expected to generate an additional NIS 1-2 billion annually, as the reform has already significantly exceeded revenue expectations. While critics argue this will harm investment and economic growth, the Tax Authority cites the state's financial needs and suggests the reform is unlikely to be repealed. The proposal is part of preparations for the 2027 austerity bill.Economy · 4d agoInsurance CEOs Clash with Agents Over Compensation ModelsFour Israeli insurance company CEOs debated compensation models with hundreds of insurance agents at a conference in Eilat. CEOs of Clal and Migdal argued the current system encourages "twisting," harming policyholders and investment. Harel and Menora Mivtachim CEOs defended the agents and the existing model, calling the discussion "unhealthy" and "simplistic." The head of the Agents Association proposed rewarding agents for client retention instead.Economy · 4d ago · also in 1 newsroomVictory Seeks to Acquire Carrefour Israel, Merge BrandsVictory supermarket chain owner Eyal Ravid is seeking approval to acquire a controlling stake in Carrefour Israel and merge the two brands, which would create one of Israel's largest food retailers. The Israel Competition Authority is reviewing the request, citing concerns about market concentration, and may impose conditions or reject the deal. The proposed merger would expand Victory to over 200 branches, potentially impacting competition with major players like Shufersal. The authority's decision is pending and could take months.Economy · 4d agoDiamond Dispute Between Billionaire Michael Mirilashvili and Cousin Reaches Supreme CourtSabbatai Elon, cousin of billionaire Michael Mirilashvili, has appealed to the Supreme Court over a dismissed lawsuit regarding a large diamond deal. Elon claims an oral agreement for 10% of profits and 5% in fees, totaling NIS 50 million, for his role in supervising diamond operations in Russia. The appeal argues the lower court made legal errors and ignored key agreements, while Mirilashvili's team is confident the ruling will stand.Economy · 4d ago · also in 3 newsroomsPelephone Acquires Wecom for NIS 265 MillionPelephone has agreed to acquire the mobile carrier Wecom for approximately NIS 265 million, a deal pending regulatory approval. This acquisition will increase Pelephone's customer base to around 3 million, boosting its market share to 26%. The move is part of Pelephone's growth strategy and is expected to generate significant synergies for its parent company, Bezeq. CEO Ilan Sigal highlighted the importance of continued investment in national telecommunications infrastructure.Economy · 4d ago · also in 3 newsroomsPelephone Acquires Wecom's Operations for Approximately NIS 265 MillionPelephone has signed an agreement to acquire Wecom's communications operations for approximately NIS 265 million. The deal, finalized after due diligence and negotiations, is expected to significantly strengthen Pelephone's mobile business. Bezeq anticipates short-term savings of NIS 50 million and long-term savings of up to NIS 100 million through operational efficiencies and network cost reductions.Economy · 5d agoIsraeli Court Penalizes Insurer for Bad Faith Delay in PayoutAyalon Insurance Company must pay a policyholder ten times the standard interest on a delayed claim after a Krayot Magistrate's Court judge ruled the insurer acted in bad faith. The judge cited the company's failure to promptly pay an undisputed disability amount and its delay in submitting crucial reports. The policyholder, who suffered permanent disability from school accidents, will receive approximately NIS 88,000 instead of the initial NIS 47,000 entitlement. Ayalon Insurance stated it believes the ruling is erroneous and is seeking to have it overturned.Economy · 5d ago · also in 1 newsroomImporter Kristalino Eyes $250 Million IPO on Tel Aviv Stock ExchangeKristalino, an Israeli import and trade company co-owned by the Elbaz family and Rekia Capital, is reportedly planning an IPO on the Tel Aviv Stock Exchange. The company aims for a valuation of NIS 800 million to NIS 1 billion and seeks to raise approximately NIS 200 million to fund expansion. Founded almost 50 years ago, Kristalino has diversified from jewelry into electronics, electric vehicles, and air conditioning. This move follows a strong year for IPOs in Israel, though the market has recently cooled.Economy · 5d agoIsraeli Firms Negotiate Advanced Deal for 3,200 Acres of OrchardsBlue Square Real Estate and Nadav B. Logistics are in advanced talks to buy about 3,200 acres of orchards from Yachin Hakal for approximately $13.5 million. The companies intend to develop an agro-solar project on the land, combining farming with solar energy production. This initiative aligns with a recent government plan to regulate such dual-use facilities. Nadav Ben Layla has existing agricultural and logistics operations, and has previously partnered with Blue Square Real Estate.Economy · 5d agoBank of Israel Faces Second Glitch in Five Months, Delaying Exchange Rate PublicationThe Bank of Israel's website experienced a technical failure on Monday, delaying the release of official exchange rates for the second time in five months. The representative dollar rate was eventually published at 3.171 shekels, down 0.72%. This malfunction, similar to one in June, impacts entities relying on these rates for financial calculations and reporting.Economy · 5d ago · also in 1 newsroomIsraeli Court Halts Proceedings Against Bar Group Avidan BrothersA Tel Aviv court has granted a 30-day freeze on proceedings against the Avidan Brothers bar group and its owners, allowing time for a debt arrangement. The group, which owes 13.9 million shekels plus unpaid salaries, cited the pandemic and October 7th as reasons for its crisis. The court aims to enable continued operation and rehabilitation, with the owners' parents providing a 750,000 shekel guarantee.Economy · 5d agoNext Vision Stock Surges 12% After Investor Calls Address Order Backlog ConcernsDefense technology firm Next Vision's stock surged 12% after investor calls addressed a declining order backlog, which had initially caused a 6% drop. Chairman Chen Golan explained the backlog decrease was due to increased production capacity and expects it to rebuild. The company reported a revenue and profit increase in Q3 but a lower order backlog. Next Vision is also pursuing acquisitions and expanding its manufacturing operations.Economy · 5d agoEtihad Airways Sees Passenger Surge Amidst Flight Disruptions to UAEPassenger traffic to the UAE from Israel has dropped 50% in October after Flydubai suspended flights, benefiting Etihad Airways which saw a 49% passenger increase. Overall year-to-date passenger numbers are down slightly by 0.45%.Economy · 5d ago · also in 3 newsroomsIsraeli Diplomat Group Expands to Latin America With $45 Million AcquisitionIsraeli distributor Diplomat Group is entering Latin America by acquiring a 60% stake in two Mexican FMCG companies for $45 million. The acquired firms generated about $310 million in revenue in 2025. CEO Yaron Blum called the deal a significant step in global expansion, citing the Mexican market's potential. Diplomat currently operates in seven countries and reported a net profit of 44 million shekels in H1 2026.Economy · 5d agoIsrael Water Price Hike Sparks Debate Over Infrastructure InvestmentIsrael's Water Authority Council approved a 2.3% water tariff increase effective 2027, despite a push for a 5.7% hike by some officials to fund infrastructure. The decision followed a debate between those prioritizing lower consumer costs and those advocating for increased investment in water systems. Even with the rise, Israeli water prices are expected to remain lower than the European average due to efficient infrastructure.Economy · 5d agoAsian Markets Rebound Led by Taiwan; Nvidia Stock Drops 4% OvernightAsian markets, led by Taiwan, are recovering from sharp weekly losses, with Taiwan's index up nearly 5%. U.S. stock futures also rose, signaling a positive start for Wall Street after a volatile week. Nvidia's stock fell 4% overnight amid reports of a foreign espionage probe and an apology from its CEO for an affair. Analysts at Goldman Sachs suggest that extreme market panic may precede a significant recovery, citing historical data.Economy · 5d agoIsraeli Car Market Flooded With 'Zero Kilometer' OverstockIsrael's new car market is seeing a rise in "zero kilometer" vehicles, which are unsold inventory registered to importers and now offered with discounts of up to 24%. While official registration numbers are high, these vehicles represent aged stock. Discounts are significant, with examples like the BYD SEAL U offering 22,000 shekels off. Experts advise that these deals can be beneficial for immediate buyers or long-term owners, but caution about potential wear from storage and the rapid release of new models, especially from Chinese manufacturers.Economy · 5d agoUrban Renewal Project Pipeline Faces Delays and Economic UncertaintyTens of thousands of Israeli apartments are in the urban renewal pipeline, but realizing them faces significant delays and economic uncertainty. Companies like Aura Construction and Azorim report large project backlogs, yet only a small fraction are currently under construction. The process requires extensive planning, approvals, and financing, with timelines often stretching to three to four years from planning to groundbreaking. Economic feasibility is constantly re-evaluated due to fluctuating costs and market conditions, impacting project viability and developer commitments.Economy · 5d agoIsrair-Arkia Merger Faces Regulatory HurdlesIsrair is in talks to acquire its financially struggling competitor Arkia, with El Al also reportedly considering a bid. The merger faces significant regulatory hurdles from the Competition Authority, although a "failing firm" exception might apply. Experts emphasize that Arkia must prove severe financial distress and a lack of other viable buyers to qualify for this exception. The deal's impact on domestic routes and competition against El Al will be key considerations for regulators.Economy · 5d agoIsraeli Capital Market Leaders Gather for 'Seeing Beyond the Trend' ConferenceIsrael's capital market leaders gathered for the Globes "Seeing Beyond the Trend" conference at the Tel Aviv Stock Exchange, focusing on long-term financial trends. The event included panels, interviews, and an investment quiz, with attendees receiving gifts from Israeli businesses and a chocolatier murdered on October 7th. In retail, TLV Mall will open a new Italian restaurant and a Beigel Cafe branch in early 2027. Tadiran appointed new CEOs for its server farm divisions, and Guy Sharon became CEO of sports content platform Schwung. The new flight tax is expected to bring in 1.1 billion shekels.Economy · 5d ago · also in 2 newsroomsBoeing Supplier Files for Bankruptcy Protection Amid ₪26 Million DebtC.M. Composite Materials, a supplier to major defense firms including Boeing, has filed for a stay of proceedings due to 26 million shekels in debt, which has halted operations and prevented salary payments. The company, facing cash flow issues exacerbated by the pandemic and internal mismanagement, is seeking court approval for a sale to a third party to inject new capital. An American company, VisionWave, has provided past support and expressed interest in future investment.Economy · 5d agoTesla Halts Cybertruck Production to Focus on Autonomous VehicleTesla CEO Elon Musk announced the company will stop producing the Cybertruck pickup to focus on its future autonomous vehicle, the Cybercab. The radical electric truck, unveiled in 2019, faced production delays and significantly higher prices than initially promised. Sales have been declining, leading to the production halt. Owners of existing Cybertrucks may see their vehicles become collector's items.Economy · 5d ago · also in 3 newsroomsAI Pioneer Amnon Shashua Seeks Buyer for Digital Bank ONE ZEROProfessor Amnon Shashua, founder of the digital bank ONE ZERO, is seeking to sell his controlling stake in the institution, which has accumulated nearly 1.4 billion shekels in losses since its founding. Shashua is shifting his focus to his AI startup, doubleAI, which has achieved significant technological breakthroughs. The search for a buyer for ONE ZERO is being managed by EY Capital Markets, with potential investors likely from the financial sector. The bank has recently undergone a 10% staff reduction as part of efficiency measures.Economy · 6d agoArkia Labor Dispute Averted as Owners Halt Stock Dilution PlanThe Nakash brothers, owners of Arkia, have abandoned a plan to dilute employee stock after worker protests, averting a labor dispute. The airline, which lost an estimated $30 million in the first three quarters of the year, is exploring other capital raising options. Israir Airlines is reportedly in talks to acquire Arkia, which is expected to finish the year with a $50-60 million loss.Economy · 6d agoStudy Finds Limited Progress Integrating Haredi Men into Israeli WorkforceA new study by the Aaron Institute for Economic Policy reveals that despite significant government investment, Haredi men's integration into Israel's workforce shows limited progress, with stagnant wages and employment hours. While Haredi women have seen employment success, Haredi men face widening wage gaps and lower-quality jobs. Researchers warn of severe economic consequences and call for a strategic, early-intervention approach to address the issue.Economy · 6d ago · also in 1 newsroomCheck Point Sued for $2 Million Over Unpaid Construction WorkA contracting company, A. Sadeh Projects, is suing cybersecurity firm Check Point for 7.8 million shekels over alleged unpaid work on its Tel Aviv headquarters. The lawsuit claims Check Point failed to pay the full amount for finishing work and systems installation on the 92 million shekel project. Check Point stated they would respond through legal channels and noted a pending lawsuit against the contractor for defects, questioning the timing of this new claim.Economy · 6d ago · also in 18 newsroomsIsrael Tax Authority Proposes New Flight TaxIsrael's Tax Authority is proposing a new tax on departing flights, with potential charges up to NIS 100,000 per flight based on weight and distance. The tax aims to address the environmental impact of aviation and is expected to generate NIS 1.1 billion annually. This initiative follows similar measures in some Western countries and is being considered for the 2027 state budget.