Financial

El Al lost $ 147 million in the third quarter of 2020 - the quarter that usually earns it the most money per year, compared to a profit of $ 27 million in the corresponding quarter in 2019. This huge loss is not even the most amazing thing in the company's recent financial report. Nine months into the corona crisis, as International Air Transport Organization (IAEA) forecasts for corporate losses in 2020 and 2021 become increasingly pessimistic, the company's accountants from BDO Haft still believe there is no need for a provision for even a dollar depreciation, on An aircraft fleet with a...

The Corona Cabinet approved by telephone the outline formulated by the Ministry of Justice for the pilot for the opening of the malls, which is expected to begin tomorrow, Friday. The layout has created legal difficulties, because it initially includes the opening of only 15 malls, and therefore harms the value of equality. To solve the difficulty, the ministry proposed a combined solution, according to which six large malls across the country would be selected by the Malls Association, and another nine would be selected by lottery. Six malls from the two major groups that will be opened...

The average wage in the economy in September per employee post was NIS 11,373, an increase of 4.9% compared to the corresponding month last year (NIS 10,840). Among the main reasons: layoffs and expenses for low-wage workers. However, in September, the average wage per employee fell by 1.6% compared to the previous month, according to data from the Central Bureau of Statistics (CBS) published on Thursday. In high-tech, the increase in wages is even sharper: an employee in the field earned an average of NIS 24,327 in September, an increase of 5.3% compared to the corresponding month last...

An end to the saga of a lack of budgets for medical care in hospitals? The Ministry of Finance and the public hospitals announced tonight (Wednesday) that an agreement has been reached according to which all the hospitals together will receive NIS 105 million each month for their operation and for the purchase of urgent equipment and medicines

Ido Susan and Hillel Kobrinsky recently completed a huge $ 208 million fundraiser for their startup, Drivenets, which has developed a solution that helps media companies increase surfing volume and maintain profitability. The start-up has benefited in the past year from the move to work from home, which has forced communications companies to deal with a huge volume of traffic, and invested in expanding their infrastructure. Drivents was established in December 2015, and this is its second round of capital raising since its inception. The round was led by the D1 Capital Partners fund, which...

The Ministry of Finance's official in charge of salaries in the Ministry of Finance, Kobi Bar-Natan, published today (Tuesday) the report on wage expenditures in the civil service and the defense bodies for 2019. The report focuses on government ministries, the government health system, the government education system and the defense system. The average monthly salary in government ministries in the past year was almost 60% higher than the average salary in the economy. The average salary in government ministries in 2019 was NIS 16,991, compared to the average salary in the economy that...

The highest unemployment rate in the corona period was recorded among ultra-Orthodox men in most months of the crisis, according to a report by the Labor Market in Israel 2020 published today (Thursday) by the Ministry of Labor and Welfare. The report also shows that women were significantly more affected than men during the three closures. The average unemployment rate in the corona period, from March to December 2020, averaged 16%, more than four times higher than in the pre-crisis period. The rate between closures (July-August 2020) was about 10% and reflects to some extent the economic...

The American private equity fund Francisco Partners acquires MyHeritage. The companies did not publish the purchase value, but Calcalist has learned that it is about $ 600 million. The deal price may even go up. CEO Gilad Yefet: "It's hard to be a promising start-up after 17 years and among the options on the agenda, the Francisco option was the most suitable for me. They are the factor that most wants to bring the company to an exit and come without changing world orders. "Instead of being sold to a competitor, we have long contacts with the buyer and in the end we got married. I am...

Bank Leumi ended 2020 with a net profit of NIS 2.1 billion, compared with NIS 3.5 billion in the corresponding period in 2019 - a decrease of 40%. The decrease in profit is mainly due to the significant increase in expenses for credit losses, mainly in the group provision, and a decrease in non-interest financing income, which in 2019 also included income from the sale of Leumi Card, in the amount of NIS 314 million. The return on equity for 2020 amounted to 5.7%, compared with a return of 9.8% in 2019 (9.2% excluding the effect of the sale of Leumi Card in 2019), mainly due to the...

The government last night approved the change in the law in favor of the self-employed, which is intended to allow the calculation of grants during the eligibility period of this year through a comparison to two thousand and eighteen or two thousand and nineteen, according to the dealer's choice. Prior to the approval of the reservation, only two and nineteen reports were allowed to be compared. Our correspondent, Liel Kaiser, notes that the move was first approved yesterday by the Finance Committee in an exceptional procedure, at the request of Finance Minister Katz, as part of a...