NewsBank (Globes (Rishon LeZion, Israel))

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.

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 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.

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...

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...

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...

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/€.

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.

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.

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.

Israeli-UK venture capital firm 83North has closed its $400 million seventh fund for investment in early stage and growth startups. Due to the global economic uncertainty and unlike in previous funds, 83North decided to merge its early stage startup and growth company investments into the same fund.

Israeli AI-based clinical assistant Kahun has completed an $8 million seed financing round led by LocalGlobe with the participation of European Innovation Council (EIC) Fund as part of the EIC Accelerator program and The Founders Kitchen (TFK). This brings to $13 million the total amount raised by the company to date.

Israel's ministerial committee on internal affairs, services, planning and local authorities today approved the plan to build the Tel Aviv Metropolitan Metro M1 central section. This is a main section of the planned Metro with connections to the two other lines.

Second-hand apartments sold

Israeli-UK venture capital firm 83North has closed its $400 million seventh fund for investment in early stage and growth startups. Due to the global economic uncertainty and unlike in previous funds, 83North decided to merge its early stage startup and growth company investments into the same fund.

As Israel is heads to elections, one of the most significant arenas where candidates can try to gain influence are the social networks. Of these, Twitter stands out from the rest, having already played a role in Israel's previous rounds as well as in other campaigns around the world. In an exclusive interview with Federico Paderni , managing director of Twitter in Israel, says Twitter, "Does not...

Israeli startups raised $800 million in September 2022, 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.

Intel's Israeli self-driving cars and advanced driver-assistance systems (ADAS) unit Mobileye yesterday filed a prospectus with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) on Nasdaq.

OX Security, a cybersecurity company founded by two former senior managers at Check Point (Nasdaq: CHKP), was unveiled to the media for the first time today, after a little under a year of activity. OX Security has completed a fundraising round of $34 million in two parts. This is one of the largest ever seed rounds for an Israeli startup.

Research conducted by the Bank of Israel in 2009 found that 82% of transport infrastructure projects in Israel were completed after the scheduled deadline and in 64% of the projects, the cost was higher than the original estimate. The research was updated several years later and it was found that the situation had not improved.

The shekel is weakening against the dollar today and against the euro. In morning inter-bank trading, the shekel exchange rate is up 0.47% against the dollar at NIS 3.553/$ and up 1.13% against the euro at NIS 3.424/€.

Eilat has been pushing the idea of a golf course as a tourist attraction for more than 20 years. Golf is a successful worldwide industry worth billions annually and there are many other golf courses in arid regions like the UAE and Saudi Arabia but Israel has not succeeded in making the desert green, at least in terms of golf. Nationwide Israel has only one golf course - in Caesarea - serving...

Despite the sharp fall in oil prices over the past month, the maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will remain unchanged in October at NIS 6.37 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.

US-Israeli company TripActions believes that the primary market gates in New York will reopen next year and that it will be able to double its valuation in an IPO. How much does it believe that? The company founded in the US by Ariel Cohen and Ilan Twig recently filed a confidential prospectus with the US Securities and Exchange Commission valuing the company at $12 billion, according to Business

OX Security, a cybersecurity company founded by two former senior managers at Check Point (Nasdaq: CHKP), was unveiled to the media for the first time today, after a little under a year of activity. OX Security has completed a fundraising round of $34 million in two parts. This is one of the largest ever seed rounds for an Israeli startup.

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden are launching Project Icebreaker, a joint exploration of how central bank digital currencies (CBDCs) can be used for international retail and remittance payments.

As the turbulence on financial markets continues, with falls in Asian markets today and a negative trend in futures contracts, the US dollar has strengthened further, globally and in Israel.

Minister of Finance Avigdor Liberman and Minister of Aliyah and Integration Pnina Tamano-Shata will on Sunday present a plan to the cabinet costing NIS 90 million, which will be unconditionally granted, for taking in Russians entitled to immigrate to Israel under the Law of Return. Following the mobilization of reserve troops announced by Russia last week for the war in Ukraine, Israel expects an

Second-hand apartments sold

Shikun & Binui (TASE: SKBN) reported today that it had received a binding offer to buy its 21.6% rights in the franchisee for the toll lanes project in Texas (SH 288). The offer was made by Spanish infrastructure company ACS, another partner in the project, at an overall valuation for the franchise of $1.95 billion.