Financial

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...

Strauss raises prices: the company announced on Thursday morning that it is raising the price of its products by up to 9%. In doing so, it joins Tnuva, Terra, Unilever, Gad Dairy, Snow, Kimberly Clark and other companies in the consumer goods market that have raised prices. Strauss is the second largest food company in Israel, which only recently gradually returned its chocolate and candy products to the market after the salmonella recall that resulted in the closure of two of its factories in the Galilee landscape and damages to its profitability. Last March, the company distributed a...

Shufersal launched another public relations campaign, designed to disguise the fact that Israel's largest retail chain is also the most expensive of the discount chains: earlier on Sunday, Shufersal distributed a press release under the title "Shufersal takes a significant step: launches a unique program and lowers the price of more than 300 selected products for six months." But you won't find big consumer news here. Shufersal announced a fixed catalog price of about 20% lower for a variety of products. The discount will only apply at Shufersal Deal branches and the Shufersal online...

Delta Brands launched the American lingerie brand Victoria's Secret. The brand is added to Delta, Peaks and the sports brand Fanta Ray. The parent company, Delta Galil, manufactures underwear for Victoria Global under the American brand name. Today Victoria's online store will go live, and in September 2023 the first two stores of the brand will be launched in the Grand Mall in Petach Tikva and the Grand Mall in Haifa. After them, a third store will be launched, the location of which will be signed in the coming days. Delta plans to open about ten Victoria's Secret stores in 2023-2025 with...

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...

Shufersal signed a memorandum of understanding for the establishment of the Dutch SPAR chain in Israel with an investment of tens of millions of shekels, and for the sale of its own brand, which will compete with Carrefour's own brand. The agreement is subject to the approval of SPAR Global and the approval of the Competition Authority. As I recall, at the time Beitan Wines was also in talks with the Dutch, at the same time as negotiations with Carrefour, but in the end chose the French chain.

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 of Israel announced on Monday another interest rate increase and the seventh in a row, at a rate of 0.5% - in accordance with the upper range of the estimates. In doing so, the basic interest rate in Israel will rise to 3.75% and the prime interest rate will rise accordingly to 5.25% - the highest since 2008. Meaning: an additional increase in the price of a large part of the loans, of the interest on the minus and of the part of the mortgages that is adjacent to the prime rate

First step on the collision course between the Israeli government and the judiciary system - on the way to canceling the reason for reasonableness and enacting the superseding clause by a majority of 61. Justice Minister Yariv Levin (Likud) held a press conference in the Knesset this evening (Wednesday), where he presented the main points of his legal reform. Several key sections of the reform focus on weakening the judiciary and the Supreme Court