Articles by March, 2022

 Israeli fintech company Finaro  is being sold to payment giant Shift4 for $ 575 million
198 Views Details

by Ifi Reporter

Category: Financial

The Israeli fintech company Credorax - which recently changed its name to Finaro - is being sold to the American payment and clearing giant Shift4 for $ 575 million. Cardorex is a clearing company that focuses on international transactions. It was founded in 2007 by Bnei Nachman, currently the company's chairman, Eugene Volkov and Michael Feinstein. It is estimated that the company is expected to end the current year with a clearing of $ 15 billion. Cardorex has raised $ 155.6 million so far, according to startup Nation Central, and its most recent round of funding was in 2016. The...

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Mar 1, 2022

TERA PARK will be built in Ashkelon -  The largest high-tech park will offer thousands jobs
435 Views Details

by Ifi Reporter

Category: Hitech

Work has begun on establishing TERA PARK Ashkelon - the largest high-tech park in Israel. The park will offer thousands of new jobs, a new and advanced transportation center and a vibrant urban axis of recreation and leisure; Ashkelon's new flagship project is launched and turns a vision into reality. The Ashkelon Municipality, through the Ashkelon Economic Company and with the support of the Israel Land Authority, has begun work to establish TERA PARK Ashkelon - the largest high-tech park in Israel that will serve as a center for innovation, science and business and change the employment...

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Mar 2, 2022

Egg prices in Europe soared 37% following the war but not in Israel - A supervised product
126 Views Details

by Ifi Reporter

Category: Financial

Egg prices in Europe soared following the war. At the same time, the price to the consumer will not change because it is a supervised product. Those who will have to absorb the rise in prices are the marketers. According to Mickey Lesser, CEO of Lesser, the largest egg marketer in the country, the price in Europe a month ago was 35 pennies for a medium-sized egg, and now we are required to pay 48 pennies - an increase of 37%. Another reason for the rise in prices is the bird flu that wiped out entire chicken coops in the United States, which as a result joined the circle of demand. Love".

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Mar 3, 2022

El Al: loss of $ 1.8 million per day - Finance committee ensures a guarantee For flights to Russia
113 Views Details

by Ifi Reporter

Category: Financial

It is symbolic, however, that the financial results of El Al are published a few hours after the State of Israel, with the approval of the three members of the Finance Committee, decided to give it a guarantee. The former national airline needed it because international insurance companies announced they would not be able to insure its flights to Russia due to sanctions over the war in Ukraine. A few hours after the long-awaited approval, El Al posted another quarter of heavy losses. After a $ 314 million injection by the state from September 2020 - it is clear that the only reason the...

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Mar 3, 2022

the average wage in February increased by 9.2% and amounted to NIS 11,773
114 Views Details

by Ifi Reporter

Category: Financial

In 2021, the average wage in the economy was NIS 11,773. An increase of 2.3% compared to the same period last year and an increase of 9.2% compared to 2019 before the outbreak of the corona crisis. On the other hand, in the high-tech field, the average salary was NIS 26,494 - 2.25 times, according to data from the Central Bureau of Statistics published on Thursday. In December, the average wage in the economy was NIS 12,142, an increase of 7% compared to the previous month. This concludes a year with great volatility in the average wage resulting from changes in the labor market following...

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Mar 3, 2022

The Israeli General Security Service reached agreements with UAE that enables flights
136 Views Details

by Ifi Reporter

Category: Government

The General Security Service announced on Friday that it had reached agreements with the security authorities in the United Arab Emirates that would allow Israeli companies to continue flying to Dubai. Last month, there was concern that the activity of Israeli airlines on the Israel-Dubai route would be stopped next week, due to a security dispute between the security authorities in Dubai and the Israeli aviation security system.

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Mar 4, 2022

P.M Bennett flew to Moscow met Putin in the Kremlin and flies to Germany to mediate
181 Views Details

by Ifi Reporter

Category: Politics

Prime Minister Naftali Bennett flew secretly to Moscow early Saturday morning, and is currently in the Kremlin with Russian President Vladimir Putin as part of his attempt to mediate a diplomatic solution to end the war in Ukraine. Bennett is the first Western leader to meet with Putin since the beginning of the Russian invasion ten days ago, although some of them did talk to him on the phone. The report of the meeting was first published by the Reuters news agency, quoting a Kremlin spokesman. About half an hour later, Bennett's office issued an official statement confirming the report

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Mar 5, 2022

 International Bank concludes 2021 with a profit of NIS 1.4 billion - Twice the profit in 2020
115 Views Details

by Ifi Reporter

Category: Financial

The International Bank concludes 2021 with a profit of NIS 1.4 billion, a jump of almost twice that of the profit in 2020, which amounted to NIS 750 million. The return on capital amounts to 14.7% in 2021 compared to 8.6% in 2020. The Bank's revenues amounted to NIS 3.15 billion in 2021, compared with NIS 2.9 billion in 2020. Net interest income amounted to NIS 2.8 billion, compared with NIS 2.6 billion. International's revenue from interest amounted to NIS 1.44 billion, compared with NIS 1.37 billion in 2020, an increase of 5.3%. The fees charged by the bank last year amounted to NIS...

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Mar 6, 2022

French Carrefour chain  on it's way to Israel  - 150 Mega-Yeynotbitan branches will be converted
320 Views Details

by Ifi Reporter

Category: Financial

The largest food retailer in Europe - on the way to Israel. The French Carrefour chain has signed a memorandum of understanding with Electra Consumer to open a marketing network in Israel. As part of the deal: the Mega and Pavilion wines brands will be eliminated. Electra said that "Carrefour's first branches will open by the end of 2022 and within three years more than 150 mega-yeynotbitan branches will be converted to Carrefour, in parallel with the opening of new branches

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Mar 6, 2022

Ukrainian Foreign Minister on El Al using  Russian payment system - money soaked in Ukrainian blood
146 Views Details

by Ifi Reporter

Category: Politics

Ukrainian Foreign Minister Dmitry Kolba has attacked El Al over a payment option through a Russian payment system provided on the company's website. Kolba posted a photo from the site, which marked the possibility of paying through the "Mir" payment system set up by the Central Bank of Russia. "While the world imposes sanctions on Russia for its barbaric actions in Ukraine, others prefer to make money absorbed in Ukrainian blood," Kolba wrote. "Here, El Al is receiving payments from the 'Mir' payment system, which was designed to circumvent sanctions." This is an immoral act and a...

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Mar 7, 2022

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