Articles by June, 2020

Following negotiations in the past few weeks between the Histadrut, the Pelephone employees and the company's management, the parties signed a new agreement that will allow the company to deal with the consequences of the Corona crisis, while reducing the damage to its employees. Negotiations on the agreement were led by MZA VP of Zvika Abramovitz, Chairman of the Cellular Workers 'Union, Internet and High Tech at the Yaki Pioneering Federation, and Chairman of the Workers' Committee Yechiel Shemen. Accompanying the negotiations: Prof. Yaron Zelicha Dr. Kfir Ze'ev of the Orna Lin office,...

Earthquake in Israeli football. Legendary past footballer Haim Revivo will be prosecuted for serious corruption offenses subject to a hearing. Arnon Giladi, a member of the Tel Aviv City Council and former Deputy Mayor, will also be charged with bribery, fraud and breach of trust subject to a hearing. This is what the prosecutor's office announced on Tuesday in a 1803 case in which it has already been decided to prosecute MK David Bitten (Likud). According to the suspicions, as of November 2003, Giladi serves as a member of the Tel Aviv City Council and throughout the relevant period...

National Instruments Corporation (NI) acquires Israeli software company Optimal Plus for $ 365 million in cash. To date, the Israeli company founded in 2005 by Danny Glotter has raised $ 80 million, among others from the US investment fund KKR, Israeli venture capital funds Pitango, Viola Ventures, Spring Ventures, Vintage Scandi and Evergreen as well as private investors Kenneth Levy, Chairman of KLA. The acquisition is scheduled to close in the third quarter of 2020. The acquiring company trades on NASDAQ for about $ 5 billion and employs about 7,300 employees among others in its Texas...

Another huge exit at the door: Netapp storage and data company reports that it is acquiring Israeli (formerly SpotInst, Spotinst). Netap is a NASDAQ publicly traded company for $ 10 billion. It did not report the purchase amount as it is not material to it in reporting terms (less than 10% of its balance sheet), but it is estimated to be a $ 450 million deal. The deal was heated Wednesday evening. Negotiations to purchase it began in February. Spot has developed a system that helps companies save cloud computing costs by "zapping" between servers, and taking advantage of the discounted...

MK Sami Abu Shehadeh from the joint list announced on Wednesday night that he was infected with the Corona virus. All Knesset members of the faction who participated in the visit also went into isolation. Abu Shehadeh wrote in his Twitter account: "I received a few minutes ago the result of the corona test I did today - a positive result. I appeal to everyone in my immediate vicinity to go in isolation and conduct a check. I ask everyone to follow the Ministry of Health instructions The virus still exists between us and the supposed return to routine helps the virus spread in a big and...

118 new corona patients have been diagnosed in Israel in the last 24 hours, 93 of them since midnight. This is according to the Ministry of Health data released this evening (Thursday). According to city data, the new patients were found in dozens of localities and not in a small number of localities, as they were in recent weeks. The number of infections in Israel stands at 17,495, of which 15,013 have recovered and 291 have died - so the number of active patients is 2,191

Six tenants and three employees in the nursing ward at Neot Avi - Ahuzat Eyal Nursing Home in Or Yehuda have been infected with the Corona virus in recent days. This after working at the institution was infected with the virus. The adherents were diagnosed on the second test, after the first test did not indicate infection. Following the diagnosis, all the occupants of the department and the workers were isolated - 29 patients and five employees. In addition, the institution began examining all tenants and employees. Some adhesives were transferred to other geriatric centers. According to...

In the coming days, the Risk Loan Fund is expected to start operating, where a state guarantee of 60% will be given instead of 15% on the total loan portfolio. These are loans to businesses that have so far failed to earn the credit they need to deal with the Corona crisis. The prevailing claim is that the current loan fund - of which NIS 13 billion in loans has already been distributed to small and medium businesses - does not meet the needs of several industries, especially restaurants, cafes and hotels. According to this claim, a 15% state guarantee is not enough to address the banks'...

The effects of the krona: The Ministry of Finance reported that the government deficit in the last 12 months rose to 6% of GDP in May (NIS 17.9 billion), more than twice that of the government target of 2.9%. In April, the deficit rose to 4.8%, and in May, it made another leap. The Treasury estimates today that the deficit will reach more than 10% by the end of the year, as a result of the economic crisis facing the economy following the Corona epidemic. The deficit was caused, among other things, by a 23% reduction in state tax revenues in May compared to the corresponding month last...

Prime Minister Benjamin Netanyahu and Finance Minister Israel Katz have decided to permanently cancel NIS 1.45 billion in taxes and purchase taxes on products, in addition to concluding the granting of 35 days of unemployment eligibility for eligible persons. As part of the decision, the tariffs and shopping taxes on the following products are regularly eliminated: Mobile phones - 15%, Footwear - 12%, Apparel and textiles - 6%, Entertainment electronics (TVs, speakers, monitors, converters, projectors, amplifiers, microphones, headphones, smart cards) , Radios and more) - 15% -30%, home...