Financial

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...

The average wage in Israel increased in September 2021 compared to the corresponding period in 2020, even though the number of jobs in the economy also increased. This shows that the anomalous situation that characterized the corona crisis - an abnormal increase in the average wage due to the waves of dismissals - is changing and there is a real increase in the average wage. This may be because of the high demand for workers, which creates pressure on employers to raise wages. The average wage of workers in Israel in September was NIS 11.6 thousand per month. This is a decrease of about 1%...

Customs duties on dairy delicacies, yogurts and cheeses up to 5% fat will fall, and imports will become cheaper for importers: Finance Minister Avigdor Lieberman signed an order today (Monday) to abolish tariffs on delicacies, yogurts and thin cheeses, as well as increase import quotas for hard cheeses. The state's tax revenues are expected to shrink as a result of about NIS 10 million. According to the Ministry of Finance: "The order will allow the opening of the market for free import of these products from European countries where the consumer price per kilogram of yogurt is about 8.5...

More than half a year after the digital wallet Apple Pay was launched in Israel and after more than a year that phone users with the Android operating system pay here at the box office with the mobile phone: Google Pay arrives in Israel. She enters the country late after a number of postponements. The Google payments app will be available tomorrow in the Google app store (Google Play) and Israeli customers of all banks and credit card companies will be able to use Google's digital wallet for the first time. You have to download the app (for free), enter credit card numbers into it, take...

The Minister of Finance, Avigdor Lieberman, is promoting legislation that will, for the first time in Israel, lead to regulation of virtual currencies. The goal is to regulate the field and fight black capital and tax evasion, which are currently estimated at hundreds of millions of shekels. It is estimated that the regulation of the field will bring billions of shekels a year into the state coffers in the future. The Ministry of Finance held a special meeting on the subject in the Minister's Office with the participation of senior officials from the capital market, the Anti-Money...

Osem-Nestle has published a document to the food chains about the expected move in which product prices will rise in the various catalogs of the company's brands. In the document, Osem clarified that it intends to raise prices by more than 5% for all products. At the same time, Osem Nestlé clarifies that the "Materna" brand products will not be included in the price change round and will remain at their stated prices today. Osem is one of the three largest companies that hold the largest market shares of food products in the country, with 7.5% of all products marketed in the country. In...

The Audit Committee and the Board of Directors of the Renewable Energy Company, Meshek Energy, approved the agreement under which the kibbutz economies will purchase 40.6% of the shares of Dalia Energies, which operates one of the largest conventional power plants in Israel, at a company value of NIS 3.18 billion. This is in exchange for the allotment of 68% of its shares at a company value of NIS 623 million. As part of the deal, Energy Farm, managed by Chen Melamed, will also acquire 50% of the shares of Mi-Ram, a company that distributes and supplies electricity in the kibbutz sector -...

The report of the Wage Commissioner relating to the health system in 2020 reflects well not only the main health development of that year - the corona plague - but sheds light on the structural problems of the most complex system in the public sector. The clear conclusion from 2020 is that the Israeli government has significantly increased Not only the number of employees in the system but also their salaries. In other words, the government has significantly increased inputs to health. The corona has only increased the jump, as the trend is clear when looking at the system over a period...