Globes (Rishon LeZion, Israel)

Publisher:: NewsBank

Publisher

NewsBank (5655)

Latest documents

Minimum salary in Israel to rise 5% in April
The minimum monthly salary in Israel will rise 5% on April 1 to NIS 5,571. The minimum salary is automatically revised through a linkage mechanism, which sets that the lowest salary that an employer can pay is 47.5% of the average salary in Israel.
Israel Tax Authority thwarts tax rebate companies
In recent years companies have flourished that offer accessible online services for receiving tax rebates. Within minutes a form can be filled in and then the company does the work with the Israel Tax Authority and tells the client how much of a rebate they can expect. Of course this work is performed for a fee but now the Tax Authority has decided to play tough with these companies.
BioNTech to produce trial cancer vaccine in Jerusalem
German biotechnology company BioNTech, which developed the Covid-19 vaccine marketed by Pfizer, has confirmed to "Globes" the announcement by Jerusalem mayor Moshe Lion of its intention to set up a vaccine plant in the city.
After near crash, oil price, exchange rate lift El Al
Less than two years have passed since El Al Israel Airlines (TASE: ELAL) was on the point of collapse, following the outbreak of the Covid-19 pandemic that almost entirely shut down its activity. The company accumulated huge losses, its financial statements bore a going concern qualification from its auditors, and it had to undergo a rescue plan that included cash aid from the state and a new owner, Kenny Rozenberg, who took over the airline from the Mozes-Borovitz family.
Planned Jerusalem highway angers local residents
The Jerusalem Municipality is moving ahead with a new highway (Road 34) between Pat Junction and the Talpiot Industrial Zone. The four-lane highway will run alongside the new Jerusalem light railway line and across part of Park Hamesila - railway park (along the former line between the German Colony and Malkah). The new road will be financed from the light rail budget.
Playtika ends talks to buy Angry Birds
Israeli mobile games company Playtika (Nasdaq: PLTK) has announced that it "has ended preliminary discussions" to buy Rovio Entertainment, the producer of 'Angry Birds.'
Ofer Nimrodi: Poland is good for business
Israel Land Development Co. (TASE: ILDC) has done very well from its investment and operations in Poland. The company's subsidiary MLP Group, in which it invested €1.5 million, 20 years ago, then had one logistics center on the outskirts of Warsaw. MLP now has 20 parks in Poland, Austria, Germany and Romania and is traded on the Polish Stock Exchange at a market cap of €330 million. Israewl Land Development Co.'s 41% stake is worth €140 million.
Treasury: Judicial reform will cost NIS 50-100b annual growth loss
Top officials at the Ministry of Finance held a discussion last night on the economic consequences of the overhaul of Israel's judicial system. Budgets Division head Yogev Gardos issued the division's first official warning about the overhaul.
Discount Investment bond yields jump as asset values plummet
The upsets in the financial markets in the past few weeks have increased the negative pressure on the corporate debt market in Tel Aviv. Within three months, the amount of corporate bond debt traded at double-digit yields has risen by more than 37% to NIS 25 billion, raising fears of a credit squeeze and growing difficulties in raising and recycling debt on the part of listed companies.
Shufersal profit plunges
Israel's largest supermarket chain Shufersal Ltd. (TASE:SAE) has announced disappointing financial results for 2022. Revenue last year was NIS 14.66 billion, slightly down from NIS 14.76 billion in 2021. But net profit plunged in 2022 to just NIS 2 million from NIS 393 million in 2021.