Financial

Fox group Reports 2023 Financial Results:  profit reaching approximately NIS 371.4 million
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Fox Group has released its financial results for the fourth quarter and full year of 2023, showcasing resilience and growth amidst challenging circumstances. The company's CEO, Harel Wiesel, expressed pride in the group's performance, highlighting strategic management and adaptability as key factors in achieving success

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Mar 24, 2024

Price Hike Alert: Diplomat to Raise Prices on Popular Brands in Israel Post-Holidays
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Diplomat, a major importer and distributor of well-known international brands in Israel, has announced a price increase averaging 3%-4% on its products, affecting popular names like Milka, Oreo, Tampax, Heinz, Kellogg's, and Fairey. Despite warnings from the Ministry of Economy and the government's efforts to ease imports, Diplomat moves forward with its price hike plans, indicating resilience against external pressures. The company, which also distributes Procter & Gamble products across several countries, cites increased costs from international suppliers as the reason for the price...

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Apr 9, 2024

Fuel Price Surge and Dairy Product Hikes: concerning Impact on Consumer Expenses
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Following the conclusion of Passover, Israeli households are bracing for a series of price increases across various sectors, likely to significantly impact expenses. Among the notable increases, the price of fuel is set to surge to NIS 7.90 per liter on Wednesday, while supervised dairy products are expected to become up to 5% more expensive. Additionally, a range of popular products including Milka, Oreo, Gomigam, Crunch, Tampax, Heinz, Kellogg's, Fairey, Sud, Ariel, and Persil are also expected to see price hikes

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Apr 30, 2024

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Huge deal in high-tech: The Israeli company Cyberark announced that it signed an agreement to purchase Venafi for $1.54 billion - $1 billion in cash and the balance in Cyberark shares

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Jun 7, 2024

Strategic Decision: El Al Selects Boeing for the New Aircraft Fleet in a Landmark Deal
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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...

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Jun 10, 2024

5 indictments will be filled against Victory and Yohannoff chains for  price coordination attempt
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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.

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Jun 19, 2024

Dovdban unit soldier Sergeant Major (res.) Yehuda Gato have been killed in Tul=Karem
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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...

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Jul 1, 2024

Israeli Outbrain Acquires Teads for $1 Billionm- Enhancing Position in Digital Advertising
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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

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Aug 1, 2024

Israel Aerospace Industry Secures $1.9 Billion Defense Deal Amid Rising Global Tensions
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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

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Aug 8, 2024

El Al: Exceptional Q2 2024 Performance with $147 Million Net Profit and Strategic Expansion Plans
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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

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Aug 14, 2024

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