Globes (Rishon LeZion, Israel)

Publisher

Latest documents

• Gasoline prices to rise back above NIS 7 per liter

  The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise on Saturday night at midnight May 1, 2022 by NIS 0.12 to NIS 7.06 per liter, the Ministry of National Infrastructures, Energy and Water Resources has announced. The charge for receiving full-service at pumps from gas station attendants will remain NIS 0.21.

• Tel Aviv area cycling infrastructure set for major expansion

  On Monday, the Tel Aviv District Planning and Building Committee, headed by Eran Nitzan, will discuss the master plan for cycling paths in the Tel Aviv district. The plan, details of which have reached "Globes", calls for the paving of 758 kilometers of cycling paths, and is one of several plans being promoted as part of a general national plan. The test, however, will be in the execution of the projects in the urban space at the expense of lanes for private cars and parking spots, something in which the Ministry of Transport has not excelled up to now.

• Dry April leaves Kinneret just short of maximum level

  A very wet winter but completely dry April has left the Kinneret (Sea of Galilee) just 21.5 centimeters short of its maximum level of 208.80 meters below sea level, according to the Kinneret Authority. The lake began the month 35.5 centimeters from its maximum level but despite the absence of any rain has continued rising due to the heavy rains in late March. But in all likelihood the level will start falling in the coming days.

• Israelis can travel with foreign passports until January 2023

  With the Ministry of Interior's Immigration and Population Authority struggling to keep up with demand for renewing passports, as Israelis flock overseas in the post-Covid era, the order allowing dual citizens to travel abroad on foreign passports has been extended until January 1, 2023.

• TASE chair Steinberg resigns over pay

  Tel Aviv Stock Exchange (TASE) chairperson Arik Steinberg announced his resignation yesterday. In his resignation letter to the TASE board of directors Steinberg wrote that he was resigning "because of a lack of willingness in principle on the part of a substantial shareholder in the stock exchange to consider awarding stock-based compensation as part of the employment agreement for the position of chairperson of the Tel Aviv Stock Exchange."

• Shekel at weakest against dollar in over a year

  The sharp depreciation of the shekel against the dollar continues. In afternoon inter-bank trading, the shekel exchange rate is up 1.06% against the dollar at NIS 3.3269/$ and up 0.16% against the euro at NIS 3.5197/€.

• Is the party over for Israel's tech sector?

  The latest figures from Israel's Central Bureau of Statistics show that the number of job vacancies for software developers has declined for the first time since the outbreak of the Covid pandemic two years ago. For the past two years, the number of vacancies had been steeply and consistently rising, as Covid created new opportunities for the tech sector.

• Strauss expands product recall

  Following two positive results in tests for salmonella in two chocolate products sold to retail stores, Strauss has announced that it is expanding its recall to all products of the factory affected: Elite chocolate, Elite cakes, Elite waffles, Energy snack bars, Energy chocolate covered rice crackers, chewing gum and soft sweets, with all expiry dates.

• Israel ratifies free trade agreement with South Korea

  Israel is accelerating efforts to sign free trade agreements with East Asian economic powers and Israel's vehicle market is likely to benefit from this over the coming months.

• Check Point reports higher Q1 revenue, lower profit

  Israel cybersecurity company Check Point Software Technologies (Nasdaq: CHKP) has opened 2022 with a positive first quarter in which it beat the analysts' forecasts and was at the higher end of its own expectations.

Featured documents

• Iron Dome marks 10 years of rocket interceptions

  It was 20 years ago this week on April 16, 2001 that Sderot took its first hit from a Kassam rocket. It took exactly 10 years for Israel to develop the Iron Dome interception missile, which downed its first rocket fired from Gaza over the skies of Ashkelon in April 2011. Since then Iron Dome has...

• Israel's unicorn hunters

  Israel's biggest unicorn backers The funds leading the pack: Viola Ventures and Aleph Ophir Dor Which Israeli funds are best at hunting unicorns? A "Globes" survey examines who these Israeli venture capital funds are and which ones identified early stage start-ups that later became billion dollar...

• Why is the shekel so strong?

  Last week, the shekel strengthened sharply against the world's leading currencies. Against the US dollar, it broke through the psychologically significant NIS 3.20 barrier, with the rate falling to below NIS 3.16/$ at the weekend, while against the euro the shekel is at its strongest for twenty...

• Israeli startup Quantum Machines raises $50m

  Israeli startup Quantum Machines has announced the completion of a $50 million financing round led by Red Dot Capital Partners with the participation of Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management LP, TLV Partners, Battery Ventures, 2i Ventures, an affiliate of...

• 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 smart checkout co Trigo raises $60m

  Israeli frictionless checkout technology company Trigo has completed a $60 million Series B financing round led by 83North and with the participation of existing investors Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings Trigo's ...

• 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 ...

• Kenny Rozenberg: I mend broken companies

  In September 2020, as El Al Israel Airlines Ltd. (TASE:ELAL) was mired in debts of NIS 1 billion, and having failed to raise bank loans to save it from the Covid crisis, Uncle Sam came to the rescue. Kenny Rozenberg, until then a name few had heard of in Israel, invested $105 million in the airline ...

• 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...