Financial

Israel Post today (Monday) approved the financial statements for 2021, against the background of the advanced negotiations for a recovery plan with the Workers' Committee. The reports show that the company is facing a loss of no less than NIS 175 million, after the company recorded a huge loss of NIS 643 million in 2020, 383 of which were set aside for expenses for retirement

Rafael announces its financial results for 2021, as approved at the company's board meeting, with sales of NIS 9.931 billion ($ 3.075 billion) and a net profit of NIS 431 million. For the first time, the company consolidated the reports of its subsidiaries Aeronatics and Controp. At the end of the 2021 work year, Rafael CEO Yoav Har-Even said: "2021 was a very successful year in all areas of the company's operations, which were also reflected in the impressive financial results despite objective challenging parameters, such as the continued effects of the corona plague on the economy

The number of cars is increasing, and traffic jams are getting longer. According to data published today (Sunday) by the Central Bureau of Statistics, in 2021 about 405,000 new cars were added to Israeli roads, compared to about 254,000 deducted from it - a net increase of 150,000 cars (4.4%). This increase brings the number of private vehicles to about 3.3 million, out of about 3.8 million vehicles in total

A dramatic drop of more than one percent was recorded in unemployment in the first half of March, exactly two years after the corona crisis. This emerges from data from the Central Bureau of Statistics Labor Force Survey for the first half of March, which are published on Monday. This decline comes after a shuffle in unemployment in the first two months of the year. The data appear to be evidence of the great success of the policy of non-closure of the economy and the education system at all costs of the government

The average wage in the economy per Israeli worker was NIS 11,784 per month in January 2022, a decrease compared to the previous month when the average wage was NIS 12,142. This is according to data published by the Central Bureau of Statistics (CBS). In the high-tech industry, the average wage continues to be much higher than in the entire economy and even rose close to NIS 1,000 compared with December 2021 to NIS 27,310 (December 26,494). The salaries of the programmers in the field reached NIS 29,558 and of the workers in the field of scientific research and development NIS 29,481

Ithaca, a subsidiary of Delek, acquires Sugar Point, a company that owns oil and gas assets in the North Sea - for $ 1.1 billion. Sikar Point holds 11 licenses, including two large producer reservoirs in the North Sea, as well as two undeveloped UK fields. The deal is expected to increase Ithaca's daily production capacity by 9,500-8,000 barrels, and put Ithaca's daily production at the range of 85,000-75,000 barrels per day. Siker Point holds 11 licenses, including two of the largest producer reservoirs in the North Sea, alongside the two fields that have not yet been developed and Kambo...

Clal Holdings announced to the stock exchange on Sunday evening the purchase of the MAX credit card company from the controlling owner, the Warburg Pincus Fund, for NIS 2.47 billion. The parties have already signed the memorandum of understanding in preparation for due diligence, and in the end they are expected to sign the agreement. To the extent that the transaction is completed, Warburg Pincus will exit Max three years after acquiring control of it at a value of NIS 2.5 billion from Bank Leumi as part of the adoption of the recommendations of the Strum Committee, which stipulated that...

The Bank of Israel, headed by the Governor, Prof. Amir Yaron, announced today (Monday) an increase in the basic interest rate in the economy from 0.1% to 0.35%. In doing so, the predictions were confirmed that the Monetary Committee is expected to raise interest rates for the first time in three and a half years. Some experts even thought that the bank might raise the interest rate to 0.5% at once, but this forecast did not materialize. Following the increase in the basic interest rate, the prime interest rate will also rise this coming Thursday, after the banks are preparing for a change,...

The Bank of Israel, headed by the Governor, Prof. Amir Yaron, announced today (Monday) an increase in the basic interest rate in the economy from 0.1% to 0.35%. In doing so, the predictions were confirmed that the Monetary Committee is expected to raise interest rates for the first time in three and a half years. Some experts even thought that the bank might raise the interest rate to 0.5% at once, but this forecast did not materialize. Following the increase in the basic interest rate, the prime interest rate will also rise this coming Thursday, after the banks are preparing for a change,...

The Israeli company Demostack - which was the first to develop a platform for creating demos for sales teams of SaaS companies, has completed a $ 34 million B round of funding. Tiger Global Management led the round of funding, with the participation of Bessemer Venture Partners, Amiti Ventures and Operator Collective. A year ago, Demostack completed the $ 13.5 million A round of funding, and at the end of 2020, the company raised $ 4 million. In total, the company raised $ 51.5 million over the course of a year and a half