Globes (Rishon LeZion, Israel)

Publisher

Latest documents

• Israelis pay top dollar to sail home on yachts

  Hundreds of Israelis who have been stranded overseas since the start of the war with Iran at the end of last week are currently trying to return home by any means possible, including by sea. While the skies remain closed, and the state's solution for repatriating Israelis is only just beginning to take off, reports are increasing of private initiatives that are expensive and sometimes lack any supervision.

• Minister denies Israel faces fuel shortage

  On Sunday night, in the barrage of Iranian missiles aimed at Haifa, a missile hit the power plant adjacent to the Bazan oil refinery. The explosion set off a fire that killed three of the company's employees, who had taken shelter in a protected inner room, and led to the refinery being shut down, the company reported to the Tel Aviv Stock Exchange. This followed a previous hit to a pipeline in the installation on Saturday night. Now, the largest refinery in Israel cannot supply fuels, just when two offshore gas production platforms have been shut down and some power stations in Israel have switched to using diesel.

• S&P warns on third cut for Israel's rating

  International ratings agency S&P has addressed the Israel-Iran war for the first time. In a special survey published today S&P's analysts write, "Developments in the Israel-Iran conflict are testing S&P Global Ratings' previous assumptions by increasing downside risk including due to the prospect of further escalation."

• Sonol warns on fuel supply disruptions

  Following the damage to the Bazan oil refinery in Haifa Bay, which was hit by an Iranian missile, killing three employees, Israeli energy company Sonol announced potential disruptions in the supply of fuel.

• Intel could lay off up to 800 Kiryat Gat employees

  Intel is expected to lay off up to 20% of its production employees according to reports, including in "Oregon Live," which closely covers the chipmaker. Intel VP manufacturing Naga Chandrasekaran wrote to employees, " "These are difficult actions, but essential to meet our affordability challenges and the current financial position of the company." Chandrasekaran added that the company will cut between 15% and 20% of its manufacturing workforce starting July.

• Coralogix raises $115m to become newest Israeli unicorn

  Israeli full stack observability provider Coralogix has announced the completion of a $115 million Series E financing round at a company valuation of over $1 billion. Thus the company, which has developed a smart platform to identify and analyze software and computer system issues, has joined the unicorn club. Coralogix was founded in 2014 and currently has 500 employees, including 250 in its Israel development center.

• Zvi Stepak: All factors point to home price falls

  The rises on the Tel Aviv Stock Exchange in the past two days despite the war with Iran have surprised several stock market experts. The main explanation they come up with is that investors are pricing in "the day after," when the threat from Iran will have shrunk and Israel's risk premium will decline. Meitav Investment House founder Zvi Stepak, however, suggests a different explanation.

• Despite war shekel strengthening sharply

  Despite the war the shekel is strengthening sharply in forex trading. This afternoon the Bank of Israel set the shekel-dollar rate down 1.75% at NIS 3.537/$ and the shekel-euro rate was set 1.418% lower at NIS 4.094/€.

• Eight dead in heavy overnight missile barrage

  In a heavy barrage of missiles from Iran overnight, eight people in Israel were killed. Four were in Petah Tikva, thee in Haifa, and one in Bnei Brak. Dozens of people have been injured and taken to hospital, including a thirty-year-old woman in severe condition. Three of the people killed in Petah Tikva were in a protected space, but it sustained a direct hit, and the three were killed by the shock wave. Missiles landed in several places and caused widespread damage. Rescue teams continue to search for people trapped in the wreckage.

• Israel Navy's new Barak Magen shoots down UAVs

  The IDF has announced that, last night, for the first time, missile ships of the Israel Navy shot down UAVs launched at Israel by Iran using the Barak Magen air defense system and the LRAD interceptor. Eight aircraft were shot down.

Featured documents

• Export controls strangling Israel's cyberattack industry

  In the past few days a small, little-known Israeli cyberattack company called Nemesis shut down. The company, which tried to compete with NSO Group with spyware that takes control of smartphones, was never exposed by the media, and did not even have a company website but its closure marks for many...

• "We want Israel in the driver's seat in dealing with China"

  In the 1870s, the US overtook Great Britain as the world's leading economy, a title it bears alongside "Leader of the Free World". But all that could change within the next ten years, if the predictions come true and it is overtaken by China, its most significant economic rival. There are some...

• Femtech seeks to provide alternatives to the pill

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• Tech giants battle for data center real estate in Israel

  Five years ago, two major cloud computing players, Google and Amazon, were offered the possibility of hosting Israeli data centers. "The Israeli market is too small," their local managers were told. In retrospect, that was a big mistake. Today, the two giants are in an especially tight race to...

• Israeli insurtech co Vesttoo raises $80m at $1b valuation

  Israeli insurtech company Vesttoo has announced the completion of an $80 million Series C financing round at a company valuation of $1 billion (after money). The financing round was led by Mouro Capital with the participation of Gramercy Ventures, Black River Ventures (BRV) and Hanaco Ventures....

• Eyal Ofer injects $400m into second VC fund

  Eyal Ofer, chairperson of Ofer Global, one of the controlling shareholders in Mizrahi Tefahot Bank and a shareholder in the Royal Caribbean Group cruise line company, is taking advantage of falls in the market to invest in technology companies at relatively early stages. Ofer has invested $400...

• Is Israel's peace agreement with Jordan in jeopardy?

  "Good morning to you Jordanian mother, hello to you Israeli mother. The peace that was born today gives you great hope that the son that was born to you will no longer know war, and you will not know sorrow." These words were spoken by the late Prime Minister Yitzhak Rabin during the signing...

• Startup Nation: rooted in socialism and military technology

  The weakness Israel's tech sector is currently demonstrating - whether due to the industry's global crisis or economic uncertainty resulting from judicial reform - belies the fact that this sector is still alive and kicking, and its role in the domestic economy is stronger than ever. Miraculously,...

• Kibbutzim successfully embrace the capitalist spirit

  The last decade has probably been the best the kibbutzim have ever had - at least financially....

• "Madoff was motivated by control not greed"

  September 2008. The global economic crisis snowball, which began with the subprime crisis in the US, begins to gain momentum. Bernie Madoff - up until then "The King of Wall Street" - starts to feel the rope tightening around his neck. On September 16, investment bank Lehman Brothers collapses,...