Financial

The ICL company managed by Raviv Zoler reports on a major deal - the company signed a memorandum of understanding for the supply of potash in Europe. The identity of the customer was not disclosed, but according to estimates, it is the Norwegian capital. This is an activity of 300 thousand tons per year and given the price of potash, it is a transaction with a financial scope of approximately 220-240 million dollars. This deal comes against the backdrop of the Russia-Ukraine war and the suspension of purchases from Russia and Belarus. Europe sanctions Russia and this may have transferred...

The CEO of Carrefour Israel, Uri Kilstein, is leading a NIS 50 million streamlining process in the company. Kilstein's presentation to the company's managers held on Sunday indicates that the plan will include layoffs, closing branches, and changing suppliers. The move is being made in a chain that is still branded under Beitan and Mega wines, in preparation for the transition to the Carrefour brand. The plan includes reducing the number of employees, currently numbering about four thousand, by 200-300 branch employees, most of whom are temporary workers and personnel workers. In addition,...

The use of credit cards abroad will soon be added to the list of products that are becoming more expensive in Israeli life: a six-year dispute between the credit card companies and the tax authority may soon end in a compromise, the consequences of which could make the fees for using credit cards abroad more expensive. In December 2016, the Tax Authority issued an assessment to the credit card companies that mainly deals with the payment of VAT for income from credit card transactions carried out abroad, as well as online purchases on websites abroad. When a customer carries out such...

Less than half a year after he started a tender process for the sale of the company he founded, Haim Monheit, an almost unknown entrepreneur, his Elmo from the city of Petah-Tikva for more than 700 million dollars to the giant German concern Bosch. Bosh agreed to pay more than the American company Rockwell Automation and beat it in the tender. One of the biggest exits of a private shareholder in recent years. Elmo is owned by Haim Monheit who founded it in 1988 together with two friends who have since retired. Elmo develops advanced traffic controllers and employs 330 people in Petah...

As part of the Histadrut's ongoing struggle against the cost of living in Israel, representatives of the Histadrut, social activists, and citizens came Friday afternoon to protest the cost of living in front of the house of the president of the Union of Chambers of Commerce Uriel Lin in north Tel Aviv. The activists waved signs that read, among other things, "The workers are the solution - not the problem", "The tycoons are the engine of the cost of living" and "The state belongs to the workers and not to the tycoons"

Israelis try to save on expenses that are considered a necessity - such as buying food products at the supermarket and paying electricity and water bills - and on the other hand, continue to spend on things they see as experiential and fun, for example going to restaurants and cultural and entertainment shows. The result is a clear slowdown in the increase in spending from June to August (compared to the corresponding period in 2021), compared to the rate of growth from January to May, alongside a significant increase in the portion of spending on entertainment and pleasure in the total...

OPC energy company is promoting the development of a power plant in West Virginia that supplied 1.8 gigawatts, for $3.5 billion. The station is powered by natural gas and incorporates technologies to capture and bury the carbon dioxide emitted by the station. The announcement of the project, which will be carried out through the American subsidiary CPV (70%), was made together with the Chairman of the Energy Committee in the Senate Joe Manchin from West Virginia, and the representative of the Governor of West Virginia. Giora Almogi, CEO of OPC, (-2.07% 4210), said that the establishment of...

The financial closure of the express lanes project has been completed. As part of the financial closure, which is a significant milestone in the project, the franchising company contracted will provide financing for the project's franchise in a total amount of approximately 2.3 billion shekels. Construction, operation and maintenance of the set of express lanes in Gush Dan will last for a concession period of 14 years. As part of the project, Dania and Electra will build high-capacity park and ride parking lots (for about 11,000 vehicles) at the Ayalon interchange (Rishon Lezion), and the...

A record in shopping ahead of Rosh Hashanah: this year in September we spent over NIS 38.811 billion on credit cards within Israel - an increase of 21.4% compared to 2021. For comparison, in September 2021 expenditures totaling NIS 31.961 billion were recorded, according to data from the Automated Bank Services Company, which manages and develops The national credit card payment system. The data does not include online purchases from websites abroad and does not include shopping overseas

The Israeli chip company Banias Labs of Mahod Hasharon, founded by the entrepreneur and investor Avigdor Vilanz, was sold to the Canadian company Alpha wave for $240 million in cash, according to an announcement published today on behalf of the companies