Financial

Israir reported strong growth in revenues in the third quarter - which helped it to present record results, despite the sharp increase in the price of fuel. The airline achieved the results by implementing a pricing engine based on artificial intelligence, which allowed it to maximize the value of each passenger. Israir, which is managed by Uri Sirkis, earned $15 million in the third quarter of 2022. This is compared to a loss of $10 million in the corresponding quarter in 2021 - which was still affected by the Corona epidemic. Israir's revenues grew by 209% in the last quarter compared to...

Tnuva will increase the price of products by up to 4.9% - and most of the marketing chains will line up and pass on the price increase to the consumer. Some of the products became more expensive for consumers by nearly 13% beyond Tnuva's rate of increase. The company stated in response that the company sells and delivers according to the new price list starting November 22." Among the chains that raised the prices of many of the products: Victory, Beitan wines and SUPER (Carrefour), Keshet Tamim, AM:PM, Elonit, yellow, Shuk Mehdrin, the Shuk warehouses, Cheap and Big and more. "Osher ad"...

The wave of layoffs in the economy is expanding. High-tech companies are not the only ones that are laying off workers, and it turns out that other companies on the fringes of technology are also parting ways with hundreds of workers. The Bezeq management signed a collective agreement with the representation of the 3,000 employees of the subsidiaries Pelephone and Bezeq International - the parties announced. Along with enshrining various benefits for employees, including general wage increases and unique wage increases for low wage earners, it was agreed that within the framework of the...

Finance Minister Avigdor Lieberman and Transport Minister Marev Michaeli approved the sale of the state's shares in the Haifa Port Company for a period of 32 years, to a group consisting of the Indian company Gadot Mosofif Chemicals and Adani, for NIS 3.9 billion. "I am happy that among my last steps in the Ministry of Finance, I signed and promoted another step towards the privatization of the port of Haifa. For the past year and a half, I have led a policy of a freer and more competitive economy. The privatization of the port is great news for the citizens of Israel that will increase...

Today, January 1st, every Israeli citizen will feel a wave of price increases for products and services that has not been seen in years, such as at the beginning of the civil year. Today, the salaries of Knesset members and other senior officials are also expected to increase, at a high rate of up to 15%. The final rate will be determined at the beginning of the month, after the publication of the average wage in the economy in the relevant months. The Public Dress Committee recommended raising the salaries of Knesset members by only 2% and attaching all senior public sector officials to...

Bank Leumi announces what it defines as a "unique and groundbreaking consumer move in the banking system": private customers with a current account at Leumi will enjoy an annual interest rate of 1% on the plus balance in the account - a significant benefit that does not exist in any other bank in Israel. The interest will be paid on a current account balance of up to NIS 10,000 to salary transfer customers with a mortgage at Leumi, or to salary transfer customers with a monthly transaction turnover of at least NIS 3,000 on a Leumi credit card or to salary transfer customers with a...

Marking the prices on stickers on products, which the marketing chains were required to do about 25 years ago, is one of their most hated obligations. Again and again, the networks tried to cancel the obligation, which they claim imposes heavy costs on them, and does not exist in any country except Israel. Now, it seems that the pressure of the networks is going to bear fruit. Next week, a memorandum of law (a draft of a government bill) will be published for public comment that will propose to cancel the labeling on the stickers, provided that the price appears on the shelf, next to the...