Financial

In 2020, the profits of government companies in Israel amounted to NIS 2.9 billion - compared with NIS 4 billion in 2019; This is due to losses amounting to NIS 643 million in the Israel Post attributed to the corona year, and expenses of more than NIS 950 million in respect of retirement benefits for employees at the Haifa Post and Port prior to their privatization. The operating profit data make it possible to examine the decrease in the companies 'profitability due to the corona, less the one-time events, and these data indicate a decrease of about NIS 350 million in the companies'...

Iron Source, managed by Tomer Bar-Ze'ev, CEO and co-founder, announced today (Thursday) the acquisition of the mobile advertising company Tapjoy for $ 400 million in cash - and the share of Iron Source jumped by 6%. The deal is expected Close in the fourth quarter of 2021 or the first quarter of 2022. Tapuji is engaged in mobile advertising and monetization (generating revenue from applications). Revenue of $ 81 million in 2021. According to Iron Source, the acquisition will strengthen its platform on several levels: Iron Source customers will be able to increase their revenue by...

Teva missed market forecasts for the third quarter. The Israeli pharma company concludes the quarter with revenues of $ 3.8879 billion, a decrease of 2% compared to the corresponding quarter last year - analysts expected revenues of $ 4.03 billion. Revenue was hit mainly by the decline in Copaxone sales in North America, which was partially offset by the growth of the generics and over-the-counter pharmaceutical sector in Europe. Net income was $ 292 million or 26 cents a share, lower than forecast, compared to a loss of $ 4.34 billion or $ 3.97 per share in the same quarter last year -...

Chip giant Renesas, a leading Japanese provider of advanced semiconductor solutions, is acquiring Celeno Communications from Raanana, which provides Wi-Fi solutions. Under the agreement, Rensas will purchase Selno in cash, for $ 315 million (approximately $ 35.8 billion), of which $ 45 million will be paid only upon meeting a number of targets in accordance with the final terms of the agreement. The company's CEO and founder, Gilad Rosen, said in a conversation with journalists that the goals set are those that the company can successfully meet

Finance Minister Avigdor Lieberman has decided to increase compensation for businesses affected by the Corona crisis in 2020. The compensation will be given as a one-time grant. The Ministry of Finance has established several assistance routes for businesses that have been affected due to the decrease in the scope of their activities. After examining the entitlements and providing a response to businesses that were particularly severely affected during 2020. Finance Minister Avigdor Lieberman: "Thanks to the responsible conduct of the government and the preservation of business sector...

Only 8,000 students (about half a percent of students in Israel) are studying financial education this year, according to a report by the Knesset's Research and Information Center (KRIC) ahead of a discussion on the subject to be held on Monday in the Knesset's Education Committee. The report, prepared by Dr. Eliran Zard for the committee's chairman, MK Sharan Hashakel, also shows a new hope, that in the 2009-2010 school year, before the Corona crisis, only 24,000 students studied the profession. These numbers are very low, despite That it is a profession that is considered by many to be...

Rav Bariach, controlled by Shmuel Donnerstein (60%), announced today (Wednesday) that it is joining the solar trend. Rav Briach Energy, a subsidiary of Rav Briach, will, together with Golan Solar, establish a company for the marketing and sale of components of solar systems - which will probably be called "Golan Latch". The initial investment is about NIS 15 million. Golan Solar is a consulting company in the solar field, which is owned by the entrepreneurs Boaz Presler, Eyal Bahrav and Uri Lieberman, and is involved in solar projects worth NIS 300 million. Rav Barih will hold about 66% of...

A recovery in demand for executive jets, maintenance services, and aircraft conversion led to a further increase in IAI's revenues and operating profit in the third quarter of 2021. IAI, which is managed by Boaz Levy, earned $ 28 million in the third quarter of 2021, a decrease of 3% compared to the same quarter in 2020. IAI's revenues grew by 3.5% in the last quarter compared to the same quarter in 2020 and amounted to $ 1.04 billion. The increase in the Company's revenues was due, among other things, to an increase in the revenues of the Military Aircraft Division, which develops and...

The improvement trend in El Al's results was halted in the third quarter of the year following the outbreak of the Delta strain in July and the rise in the price of jet fuel. El Al lost $ 136 million in the third quarter of 2021 compared to a loss of $ 147 million in the corresponding quarter in 2020, which was the low point in the company's operations. The loss in the last quarter was affected by a $ 43 million provision made by EL AL for the impairment of two Boeing 777 aircraft that are about to go out of service and be sold. El Al's revenues increased by 546% in the third quarter of...

Coinbase acquires the Israeli cyber company Unbound Security, and establishes a development center in Israel based on the company and its employees. Purchase amount not reported. Coinbase, founded in 2012, is the largest crypto exchange in the U.S. It has been traded on the Nasdaq since April, and its market capitalization is $ 67.8 billion. Coinbase shares are currently trading at 6% less than on the day of issue. According to the Coinbase website, the company has more than 70 million verified users, living in more than 100 countries. Anbound was established in 2014 under the name Didiq...