Financial

Food giant Osem is not content with raising consumer prices to improve profitability. The company plans to reduce the salaries of the sales force division. This is a division of more than 100 employees and is responsible for sales in the amount of NIS 4 billion. Yesterday morning, the brigade's workers decided to strike a warning strike with the approval of the Histadrut and did not go to work in the field. Chairman of the Trade Division Workers' Committee, Shlomi Aviv, said that "the company wants to cut our sales component by 20%, so we stopped the work. For years we have hired including...

The Competition Authority approved the transaction for the acquisition of control of Partner by the Gabay, Rodev and Phoenix Groups. This removed another obstacle although expected to complete the transaction. Avi Gabay, Shlomo Rodev, Phoenix, Menora and Mori Arkin buy 27% of the communications company Partner from Hong Kong Hutchison for $ 300 million. The group is now waiting for a permit from the Ministry of Communications to complete the move. The estimates in the capital market are that the group will not have difficulty obtaining the permit from the Ministry of Communications and...

The Histadrut provides El Al with additional assistance in the amount of NIS 10 million, through the Histadrut-owned business assistance fund. Avi Edri, the trustee of the Histadrut's a transportation and aviation portfolio, admitted in a conversation with Ynet that this is a rare amount of assistance. He said: "There are factories that turn to aid and we find that they can survive without us - so they do not receive aid, but that is not the case with El Al. If we did not support the company, it would have closed. This is the company that has been hit the hardest

The Knesset plenum approved on second and third reading the bill to finance the isolation fee for the self-employed, submitted by Finance Minister Avigdor Lieberman at the request of the self-employed organizations and the chairman of the Labor and Welfare Committee, MK Efrat Reitan. Twelve MKs supported the proposal without opponents. This is after ministers Lieberman and Yair Lapid and MK Reitan yesterday agreed on the payments for the government's participation in financing the self-employed's expenses during the isolation days

A day after the announcement of the signing of a memorandum of understanding between El Al and Arkia, it seems that the completion of the move faces significant obstacles. Among EL AL employees, there was unequivocal opposition to the outline of the emerging agreement that would allow Arkia employees to hold EL AL shares. According to the agreement, the merger between El Al and Arkia will be done by an exchange of shares, so Ask Al will acquire full ownership in Arkia in exchange for allocating 10% -14% of its shares after the merger to Arkia owners: the Nakash family (70%) and a strawberry...

During January, there was a noticeable decline in business activity in Israel. Ruthi Bank Automated announced that there was a decrease of nearly 12% in credit card expenses in January - in the expenses of Israelis in businesses. In contrast, there was an increase in expenses in online transactions, which brings the monthly decrease compared to December to only 3.3%. There was also a decrease in the withdrawal of cash from ATMs, at a rate of about 12%. What is more interesting is the fact that this is the third month in a row that such a decline has been recorded, which may indicate a...

The economic blow that Russia will suffer from the sanctions will cause sub-shocks, because the global economy is very integrated today. Even overseas vacations will increase as a result, due to rising prices for insurance, jet fuel, and a possible shortage of flights. We may be able to give up the neighborhood baker's cookie box after it becomes more expensive, The military - wherever we turn. Inflation is an economic phenomenon that has been almost completely absent from the world for three decades. Captivation is worrying - it erodes the value of money and income of employees....

The Ministry of Finance will assist in a particularly limited program with the exception of the self-employed who were partially injured as a result of the spread of the Omicron strain in the past two months. The pressure of small and medium-sized self employed businesses did not seem to help. Finance Minister Avigdor Lieberman announced in the Knesset that the outline formulated by the Ministry of Finance to assist small and medium-sized businesses up to a turnover of NIS 60 million per year will be limited and will include maximum assistance of NIS 600,000 only for businesses damaged by...

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...

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...