Globes (Rishon LeZion, Israel)

Publisher

Latest documents

• Israeli digital insurance co Lemonade launches in UK

  Israeli digital insurance company Lemonade (NYSE: LMND) today launched in the UK. Residents in Britain can now purchase Lemonade Contents insurance, from anywhere, on any device, as well as file claims and get paid almost immediately.

• Bank of Israel again hikes rate by 0.75%

  The Bank of Israel Monetary Committee, headed by Governor Prof. Amir Yaron, has raised the interest rate by 0.75% to 2.75%. This is the fifth rate hike made by the Bank of Israel since April, when it raised the rate from its historical low of 0.1% to 0.35%.

• Israeli biotech co Matricelf ranked 3rd in Startups World Cup

  Israeli biotechnology company Matricelf, which operates in the regenerative medicine and tissue engineering sector, has been ranked third in the 2022 Startups World Cup in San Francisco. The company aims to let people with spinal cord injuries discard their wheelchairs.

• Draft agreement concedes Lebanese economic zone demands

  The draft agreement on a maritime border between the exclusive economic zones of Israel and Lebanon has been revealed. The Qana/Sidon gas prospect, which straddles the economic zones of Lebanon and Israel, will be developed entirely by Lebanon, chiefly through French energy company Total, while Israel will receive financial compensation for the part in its zone, a senior diplomatic source disclosed last night.

• Bezeq Int'l to lay off 50% of workforce

  Bezeq Israel Telecommunications Company Ltd. (TASE:BZEQ) Internet and international calls unit Bezeq International is to lay off 50% of its workforce. An estimated 300 tenured employees will lose their jobs as well as an additional 250 non-tenured employees. Sources have told "Globes" that Bezeq's board of directors will convene today to approve the plan after which the company will notify the Tel Aviv Stock Exchange (TASE). Bezeq International will set aside a significant sum of money in its next financial report.

• Intel seeks $3.5b from Mobileye despite sluggish IPO market

  Although the primary market on Wall Street has slowed almost to a halt, autotech company Mobileye is reviving its plans for a huge IPO on Nasdaq, and at the end of last week it filed a prospectus. At this stage, the prospectus does not state the valuation at which Mobileye seeks to make the offering, but a few weeks ago Bloomberg reported that the valuation of $50 billion that the company was aiming at earlier in the year had been trimmed to $30 billion.

• Shekel gains strongly after rate hike

  The shekel is strengthening strongly this evening against the dollar and against the euro. In futures trading, the shekel exchange rate is down 1.07% against the dollar at NIS 3.545/$ and down 0.51% against the euro at NIS 3.482/€.

• New pension safety-net replaces designated gov't bonds

  A historic change in pension funds in Israel is now underway. For the first time in decades, the state will not issue designated bonds as a safety net for pension fund savers, and a new mechanism will come into operation.

• US hands Lebanon draft maritime border agreement with Israel

  Yesterday, the office of Lebanese president Michel Aoun announced on Twitter that US ambassador to Lebanon Dorothy Shea had handed to the president a note from US mediator Amos Hochstein setting out proposals for drawing a maritime border between the economic waters of Lebanon and Israel.

• Rate hike poses dilemma for Bank of Israel

  After surprising investors in Israel in August and hiking the interest rate by 0.75%, more steeply than expected, the Bank of Israel Monetary Committee, headed by Governor Prof. Amir Yaron, will announce its interest rate decision for October tomorrow afternoon.

Featured documents

• Squabbling threatens NSO sale

  Israeli cyberattack company NSO Group has a long list of woes: being on the US Department of Commerce blacklist, lawsuits against it from Apple and Meta, a series of journalistic investigations again and again exposing the problematic use of its technology by its customers. But its internal...

• Israel has major role to play in Intel revival

  Intel is at one of the lowest points it has ever known. It has lost its lead in the chip market to rivals who have overtaken it in both mobile and artificial intelligence, and have figured out Intel's sophisticated production methods. It has suffered ongoing CEO churn, employee defection to...

• Israel seen as major player as global chip war intensifies

  Recently, Google "poached" former senior Intel executive Uri Frank to lead its strategic chip development activity in Israel. Frank had headed Intel's semiconductor development for data centers and personal computers, responsible for some $30 billion in revenue each year. This expertise indicates...

• Femtech seeks to provide alternatives to the pill

  The invention of the pill was probably the biggest earthquake undergone by feminism: a cheap and available means that allows billions of women worldwide to manage their future, their family and their livelihood. It was undoubtedly an event that makes it easy to see how life has changed before and...

• Kibbutzim successfully embrace the capitalist spirit

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

• "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...

• 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...

• The musician, the doctor, and the oil company

  In February 1991, during the waning days of the first Gulf War, a private executive jet landed at Ben Gurion Airport. Inside sat two young Poles. The shorter, stockier of the pair, sporting a two-week-old beard, wore a red T-shirt and pink pants. The other wore jeans and a denim shirt. They exited...

• The man making antibodies smarter

  Prof. Yanay Ofran's amazing story about the pursuit of an antibody that will save the world from disease Shlomit Lan and Gali Weinreb Professor Yanay Ofran, founder and CEO of Biolojic Design, a company that develops smart antibodies designed to treat a variety of diseases, is frustrated. "Humanity ...

• Wizz Air president: We know there is chaos

  "I am aware that when airports are congested, I cancel flights for passengers at the last moment or leave them 300 kilometers from the place they are trying to get to and tell them to manage on their own, I am not providing the best flight experience," Wizz Air president Robert Carey regretfully...