Financial

The start-up company AVO, which operates a grocery and consumer goods delivery service, is laying off about 500 of its 750 employees worldwide - about two-thirds of its workforce. In Israel, the company employed about 500 employees, of whom about 350 will be fired. In addition, the company completely stopped all shipping activities for private consumers, which was aimed at residential buildings and included about 1,000 buildings in Israel in cities such as Petah Tikva, Ramat Gan, Tel Aviv and Ashdod. Now the company will focus only on activities with businesses - that is, deliveries to...

The Israeli company Telrad Networks is sold to the Liquid Intelligent Technologies telecom group for about NIS 200 million in cash. The value of the deal is about 27% higher than the value of the company this morning on the Tel Aviv Stock Exchange. The deal is subject to the approval of most of Telrad's shareholders, and the company estimates that it will be completed within a few months. The largest shareholder in Telrad is the Fortissimo Fund, which holds about 41% of the company's shares. The transaction will take place in the format of an inverted triangle merger. The acquiring...

On the night between Saturday and Sunday (May 14/15), very strong winds hit the north of the country, reaching speeds of over 100 km / h in many areas, including the Hula Valley, the mountain area, and the southern Golan Heights, and Beit She'an Valley. "The damage to farmers is estimated at ten million shekels

El Al closes a consecutive sixth quarter of an increase in revenue, with the termination of the position of outgoing CEO Avigal Soreq - the company reduced its loss in the first quarter of the year to $ 66 million, compared to a loss of $ 86 million in the first quarter of 2021. Tomorrow, Soreq will officially end his position at the company, and he will be replaced by the new CEO, Dina Ben-Tal Genesia. This is in the days when El Al is dealing with employee sanctions that have also led to the cancellation of several flights

Cellcom reported the results of the first quarter of 2022, in which it continues the positive trend and shows the highest profit in the last 20 quarters - NIS 28 million, this is the first report under the new CEO Daniel Sapir. Available foreign cash amounted to NIS 52 million, with a growth of 31,000 mobile subscribers in the first quarter compared to the previous quarter, a growth of 6,000 Internet infrastructure subscribers in the first quarter compared to the previous quarter, and a growth of 2,000 TV subscribers in the first quarter compared to the previous quarter

At least another 10,000 businesses are expected to receive compensation for the decline in turnover in their businesses during the peak of the corona plague during this period the Omicron, which left about half a million citizens in isolation in homes and caused a significant decline in growth in the first quarter of the year. The addition of thousands of business owners to the compensation and grant scheme will be made possible due to an improvement in the scheme of aid grants to businesses that were adversely affected by the spread of the Omicron strain, which was decided by the Knesset...

The cuts in the high-tech industry continue: The Israeli cyber company Cybereason has laid off about 100 employees out of about 1,500 employees, about 6% of the company's workforce. The layoffs are global and several dozen of those laid off are Israelis. The company has not yet explained the reason for the decision, but it comes against the background of horizontal layoffs that have occurred in recent weeks in many companies abroad and in Israel, including in the cyber industry - and including well-funded companies. Adam, after a period of rapid growth in the number of employees, indeed,...

The average wage in Israel continued to rise, and as of March was NIS 12,672, according to data from the Central Bureau of Statistics. This is an increase of 5.2% compared to the previous month and an increase of 1.5% compared to the corresponding period last year. However, the increase in the average wage is explained as a seasonal change. The average high-tech salary in March was NIS 29,772, a decrease of about 1% compared to the previous month and an increase of 2.5% compared to the corresponding period last year. The average wage in high-tech is 2.4 times higher than the average wage...

Dudi Ezra, the controlling owner of the Neto Holdings group and chairman of the group, was arrested by the tax authority on suspicion of smuggling more than 475,000 euros abroad. After being brought to the Jerusalem Magistrate's Court on Monday, he was released on restrictive conditions. The request for arrest and release on bail submitted by the Tax Authority against Ezra shows that the Jerusalem Customs and VAT Investigations Department, in cooperation with the customs inspectors at Ben Gurion Airport's passenger hall, is conducting an investigation against Ezra on suspicion of smuggling...