Financial

In a swift and unexpected turn of events, Nirlat, the renowned paint manufacturer from the Inrom group, has acquired Decoline for NIS 63 million, just six weeks after its main factory in Kibbutz Nir Oz, Gaza Strip, was tragically destroyed in a Hamas attack. The purchase, part of a lightning deal, aims to enable Nirlat to resume production as an alternative to its now-lost facility

In a significant move to ensure stability in the face of economic challenges, Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich have agreed to extend the term of Bank of Israel Governor Prof. Amir Yaron. The decision is set to be presented for government approval at its upcoming meeting

Moody's, the prominent credit rating agency, has declared that it is placing the Israeli government's credit rating under review for a potential downgrade. This announcement comes in the wake of the recent outbreak of war in the region, and it closely follows a similar decision made by Fitch, another credit rating company

Half a year after canceling a deal to purchase it, the medical device company from Kfar Saba Cartiheal is sold to the British company Smith & Nephew for $330 million. The deal is expected to close in the first quarter of 2024. According to the agreement, the buyer will pay the shareholders of Carthill 180 million dollars in cash, and the balance - 150 million dollars - subject to meeting a milestone of cumulative sales of 100 million dollars in 12 consecutive months (as opposed to a calendar year), when the sales target must be achieved Within 10 years from the date of closing the deal

In the wake of the ongoing conflict in the region, several Western fast-food chains, including McDonald's, KFC, and Starbucks, are facing a significant boycott across various Arab countries. The boycott, primarily driven by social media movements, has gained traction in countries such as Egypt, Jordan, Kuwait, and Morocco

A startling revelation has emerged from closed-door discussions at the Israeli Treasury, unveiling a budgetary shortfall of NIS 20 billion and a 10% reduction in tax revenues, raising concerns about the nation's fiscal health. The shocking findings are linked to the coalition agreements signed by the government with its constituent parties, which failed to account for the anticipated economic slowdown

In the third quarter of this year, Strauss reported a notable increase in sales, reaching NIS 2.67 billion, marking a 7.3% rise compared to the corresponding quarter. However, the company's profitability is under pressure, with a net profit of NIS 120 million, significantly lower than the NIS 204 million in the third quarter of 2021

In the wake of the ongoing conflict, Fox Group, a prominent retail conglomerate under the leadership of Harel Wiesel, has reported a significant downturn in revenues, anticipating a 10%-15% decrease since the beginning of the war. Today, the company announced that this decline is expected to have a substantial negative impact on its fourth-quarter reports for 2023. The repercussions may persist into subsequent quarters, contingent upon developments on the security front