Globes (Rishon LeZion, Israel)

Publisher

Latest documents

• Shekel slide continues into June

  The shekel has been weakening today against the dollar and against the euro. In morning inter-bank trading, the shekel-dollar exchange rate is up 0.85% at 3.747/$ and the shekel-euro rate is up 0.75% at NIS 3.997/€.

• Israeli startups raised $550m in May

  Israeli startups raised $550 million in May 2023, according to press releases seen by "Globes." The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received.

• Israeli cloud platform co Ariga raises $18m

  Israeli cloud platform company Ariga announced the completion of an $18 million financing round led by Tiger Global and TLV Partners together with angel investors. The Tel Aviv-based company has also announced the launch of the new version of its Atlas Cloud platform for database schema management.

• Diplomat hikes Starkist tuna and other prices

  Israeli food and toiletries importer Diplomat Holdings (TASE: DIPL) has announced price rises for some of its products from July 1. Diplomat imports and distributes a range of well-known brands including Starkist Tuna, which has 40% of the Israeli tuna market and will rise in price by 4%. Other brands, include Jacobs coffee, and Lotus biscuits which will rise in price by an average 6.1%.

• Israel recognizes Energean's Katlan gas discovery

  Minister of National Infrastructures Energy and Water Resources Israel Katz has awarded to Energean plc (LSE: ENOG; TASE: ENOG) CEO Mathios Rigas the approval of the Head of the Fuel Administration Chen Bar-Yoseph of the license in Block 12 Katlan (Olympus) reservoir as a natural gas discovery. Katlan contains an estimated 68 BCM.

• Israeli startups that could interest Sam Altman

  OpenAI founder and CEO Sam Altman will visit Israel at the start of next week as part of a tour of Europe and Asia. In Israel's tech industry, many entrepreneurs are making vigorous efforts to try and meet the man who is responsible for the most popular and talked about products in recent months, such as chatbot ChatGPT and cloud-based AI tool Copilot.

• Halliburton VP: Innovation can drive the energy industry forward

  "We must not underestimate the central role of entrepreneurship and innovation in driving the energy industry forward," Halliburton Region VP Europe, Eurasia and sub-Saharan Africa Jean-Marc Lopez told the Globes Energy 2023 Conference, which was held with Halliburton and Energean.

• Miri Regev blocks progress on Metro

  Israel's Minister of Transport Miri Regev is so angry with NTA about the delays in the start of operations of the Tel Aviv light rail Red Line that she has declared her plans to move supervision of the Metro project to another company. But the same time a chain of events and foot dragging by Regev herself and her own aides is threatening delays to the huge Metro project.

• Energean CEO: We want to put innovation into energy

  "Just as we were the first to bring competition into Israel's gas market, so we want to now provide innovation to the gas and oil business," Energean CEO Mathios Rigas told the Globes 2023 Energy Conference in Tel Aviv yesterday evening.

• Fitch could raise Israel's rating if reforms halted

  International credit ratings agency Fitch has published its latest survey of Israel for investors. Under the headline, "Strong Economic Growth Key to Israel's Debt Trajectory," the agency's analysts believe that Israel's debt/GDP ratios will continue to fall in the coming years despite the return to fiscal deficits and due to relatively strong growth. Fitch says that this trend "could lead to positive rating action in combination with other factors such as stable governance indicators." It is a while since the ratings agencies have used the word 'positive' when talking about Israel.

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