Financial

American Rubrik announced the purchase of the Israeli cyber startup Laminar for about 250 million $
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by Ifi Reporter

Category: Financial

The American company Rubrik announced the purchase of the Israeli cyber startup Laminar. The amount of the purchase is estimated at 200-250 million dollars. According to the announcement, Laminar will continue to operate from its offices in Tel Aviv and will form the basis for Rubric's R&D center in Israel

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Aug 8, 2023

Bezeq Group Reports Strong Q2 2023 Results with Record Profit and Dividend Distribution
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by Ifi Reporter

Category: Financial

Bezeq Group, a leading telecommunications company in Israel, has announced its financial results for the second quarter of 2023, showcasing impressive growth in revenues and achieving its highest adjusted net profit since 2017. The company's robust performance has led to positive market sentiment, with its shares rising by 1.8% at the opening of trading on Wednesday

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Aug 9, 2023

ICL Anticipates Recovery After Q2 Slump Despite Challenges - ICL's stock has surged by 16%
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by Ifi Reporter

Category: Financial

Israel Chemicals Ltd (ICL), now known as ACL, has witnessed a tumultuous second quarter in 2023, grappling with plunging profits and a sharp decline in product prices. However, recent indicators of price stabilization and increased demand suggest a potential turnaround for the fertilizer and minerals producer. Since the commencement of the third quarter, ACL's stock has surged by 16%, hinting at a potential upswing in the company's financial results for Q3. This comes as a relief after the company faced a severe blow in Q2, when a precipitous fall in fertilizer prices and reduced...

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Aug 10, 2023

El Al Marks 20th Anniversary on Stock Exchange with Soaring Q2 Profits and Ambitious Expansion Plans
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by Ifi Reporter

Category: Financial

Israel's flagship airline, El Al, is celebrating its 20th anniversary since its listing on the stock exchange by unveiling remarkable financial performance in the second quarter of 2023. The company's published reports reveal a substantial surge in profits and a strategic business roadmap geared towards fleet expansion and upgrading narrow-body aircraft

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Aug 10, 2023

Software Company Monday Continues to Thrive on Wall Street with Impressive Growth of 38%
415 Views Details

by Ifi Reporter

Category: Financial

Israeli software company Monday has solidified its position as one of the standout success stories on Wall Street. The company's trajectory began with its 2021 IPO, where it stood out as one of the few to trade above its initial public offering (IPO) value. The momentum has persisted as Monday consistently exceeded forecasts, leading to rapid growth in the second quarter. The company's stock recently surged by 10%, pushing its market value to approximately $8.3 billion

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Aug 14, 2023

Shufersal retail food chain Sees 68% Surge in Q2 2023 Operating Profit Despite Sales Dip
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by Ifi Reporter

Category: Financial

Shufersal, a prominent player in the food retail sector, reported a remarkable 68% surge in operating profit for the second quarter of 2023 when compared to the same period in 2022. The figure stood at a staggering NIS 89 million. Despite this noteworthy profitability upswing, Yitzhak Abarkhan, the Chairman of Shufersal, has emphasized that the company is far from content. Sources indicate that the retail giant is embarking on another sweeping efficiency program, poised to significantly impact its financial landscape throughout 2024 and 2025

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Aug 23, 2023

Teva Settles Price-Fixing Lawsuit with US Department of Justice Agrees to $225 Million Fine
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by Ifi Reporter

Category: Financial

Teva will pay a fine of $225 million in cash over a span of five years. The fine will be distributed as follows: the company will pay $22.5 million annually from 2024 to 2027, and a larger sum of $135 million in 2028. In addition to the financial penalty, Teva has committed to several other actions: Discontinuation of Marketing: Teva will halt the marketing of a generic cholesterol-lowering drug, Pravastatin. Divestment of Drug: Teva will sell the rights to Pravastatin to another pharmaceutical company

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Aug 23, 2023

Israel Tops OECD Rankings for Cost of Living - prices soaring 38% above the average
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by Ifi Reporter

Category: Financial

In a recent OECD report, Israel has claimed the unenviable top spot for the highest cost of living among member countries, with prices soaring 38% above the OECD average. Despite efforts to mitigate the impact through compensatory measures targeting specific voter groups, experts argue that the underlying issue of economic centralization remains largely unaddressed

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Aug 26, 2023

Israel Secures 28 Million Eggs for Holidays Amidst Weather Challenges and Supply Disruptions
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by Ifi Reporter

Category: Financial

Israel's Ministry of Agriculture has granted approval for the import of 28 million eggs from Ukraine, Spain, and Poland to avert any potential shortage during the upcoming holidays. Despite recent fluctuations in the exchange rate of the dollar and the euro, consumers will not face increased costs, as the imported egg prices will remain stable through vigilant monitoring

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Aug 31, 2023

Bank of Israel Maintains Interest Rate at 4.75% Amidst Mixed Economic Signals
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by Ifi Reporter

Category: Financial

The Monetary Committee of the Bank of Israel has chosen, for the second consecutive time, to keep the interest rate steady at 4.75%. This decision aligns with market expectations and comes amid a backdrop of dwindling inflation, which dropped to 3.3% in July, juxtaposed with concerning signs of an economic slowdown

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Sep 4, 2023

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