Financial

After extensive negotiations spanning over a year with both Airbus and Boeing, El Al Airlines, controlled by the Rosenberg family, has decided to exclusively negotiate with Boeing for its new aircraft fleet. The decision marks a significant milestone for the company, leading to the largest strategic agreement in its history. Boeing Deal Details El Al plans to purchase and lease approximately 30 Boeing 737 Max narrow-body aircraft, with an estimated value of $2-2.5 billion. Deliveries are expected to commence in 2027 and span several years, rejuvenating and expanding the airline's...

The Competition Authority has decided to file 5 indictments, subject to a hearing, against Eyal Ravid, CEO and the controlling owners of the Victory chain, Efi Tshuva, CEO of Super Barkat, and Elad Harzi, VP of Sales at Yohannoff on suspicion of price coordination. Eitan Yohannoff has administrative responsibility for the attempted coordination of His VP of Trade.

Dovdban unit soldier Major (res.) Yehuda Gato, 22 years old, from Pardes Hana-Karkur, an operational driver, was killed today (Monday) by an explosive device in the Nur A. Shams refugee camp near Tulkarm. Another fighter was wounded. The tragedy happened during a counter-terrorism operation by the Menashe Brigade, in which shafts were breached and explosives were neutralized. At the time of the explosion, there was a driver and a commander from the Dovdvan unit in the vehicle, the rest of the fighters unloaded before the explosion in favor of an operational foot mission. The Panther...

Israeli content recommendation company Outbrain has announced the acquisition of Teads, a prominent player in video advertising solutions, for $1 billion. The seller is French-Israeli businessman Patrick Darhy's media group, which owns the Israeli communications company HOT

In a major development for the aerospace sector, a leading defense company announced a $1.9 billion contract to supply weapons to a foreign nation

El Al Airlines has released its financial results for the second quarter of 2024, showcasing an outstanding performance that aligns with earlier projections and underscores the airline's robust recovery and growth trajectory. The company reported revenues of approximately $839 million, marking a significant 33% increase from the $630 million recorded in the same quarter last year. This surge in revenue is attributed to a $29 million boost in cargo operations and strong passenger demand

The Bank of Israel is unlikely to lower its interest rate shortly, despite expectations of rate reductions in other countries, including the United States and the Eurozone. The central bank recently maintained the interest rate at 4.5%. In an interview with Ynet, Bank of Israel Governor Prof. Amir Yaron indicated that reducing the basic interest rate is improbable even within the first two quarters of 2025, given the current economic and geopolitical situation

The price of fresh ground beef at Shufersal has surged by 17%, highlighting a broader trend of rising meat prices across the market. As of this Sunday, the cost of fresh, chilled ground beef at Shufersal has jumped from NIS 28 per kilogram in 2022 to NIS 69.90 per kilogram—a more than twofold increase

Delta Galil, the Israeli underwear and sportswear manufacturer, has announced its entry into the Indian market for the first time. The company, controlled by Isaac Dabach, is establishing a joint venture with Reliance Industries, one of India's largest retail corporations

The Central Bureau of Statistics (CBS) has released alarming data showing a significant increase in the number of Israelis emigrating and staying abroad for extended periods. In 2023, a total of 55,300 Israelis left the country, marking a 46.4% rise compared to the previous year. This translates to approximately 5.7 residents leaving per every 1,000 people living in Israel