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The state will invest about NIS 1.7 billion to the Israel Postal Company as part of the convalescence agreement approved by the company's board of directors, on the assumption that the investment will be worthwhile in preparation for the full privatization of the post office. As part of the agreement, 1,050 employees will retire from the post office in the first phase, with the average provision cost per employee reaching NIS 1.1 million. The total cost of rehabilitating the post office will reach NIS 2.3 billion. In addition to a payment of NIS 1.7 billion for the allocation of employees,...

The cuts in the high-tech industry continue: The Israeli cyber company Cybereason has laid off about 100 employees out of about 1,500 employees, about 6% of the company's workforce. The layoffs are global and several dozen of those laid off are Israelis. The company has not yet explained the reason for the decision, but it comes against the background of horizontal layoffs that have occurred in recent weeks in many companies abroad and in Israel, including in the cyber industry - and including well-funded companies. Adam, after a period of rapid growth in the number of employees, indeed,...

Economy Minister Orna Barbibai and Emirati Economy Minister Abdullah bin Tok al-Marie signed a free trade agreement with the United Arab Emirates in Dubai. The Ministry of Economy estimates that the volume of trade between the two countries, which now reaches almost $ 900 million a year, is expected to grow in the coming years to about $ 3 billion a year. The United Arab Emirates is the first Arab country with which Israel has signed a full free trade agreement. The free trade agreement was made possible after the normalization between the two countries under the Abrahamic Agreements in...

Half a year after declaring that "natural gas will wait", Energy Minister Karin Elharar instructed her office staff to prepare for the fourth competitive procedure for natural gas exploration in the State of Israel's economic waters. This was announced at a press conference held on Monday at the Ministry of Energy. The Minister noted that the new directive stems from the war in Ukraine and its effects on the supply of natural gas to the European continent. She updated that she instructed the director of her office, Lior Shilat, to launch the fourth competitive procedure for exploring...

At least another 10,000 businesses are expected to receive compensation for the decline in turnover in their businesses during the peak of the corona plague during this period the Omicron, which left about half a million citizens in isolation in homes and caused a significant decline in growth in the first quarter of the year. The addition of thousands of business owners to the compensation and grant scheme will be made possible due to an improvement in the scheme of aid grants to businesses that were adversely affected by the spread of the Omicron strain, which was decided by the Knesset...

The CEO of the public broadcasting corporation "Kan", Eldad Koblenz, is leaving his position after seven years. He will be temporarily replaced by the corporation's vice president of television, Tal Freifeld. Koblenz was due to end his term in March 2023 but was forced to resign after a dismissal order was issued by the corporation council last month. Koblenz petitioned the Labor Court for a restraining order against his dismissal, but the president of the Jerusalem Regional Labor Court, Justice Eyal Avrahami, ruled on Thursday that the hearing procedure for Koblenz was lawful. The...

The government is expected to approve at its weekly meeting on Sunday a plan to promote and expand economic ties between Israel and Egypt. The plan was formulated following visits by the Prime Minister, the Foreign Minister, the Minister of Economy and the Minister of Energy to Egypt over the past year, as well as the Egyptian Foreign Minister's visit to Israel. Among the goals of the program: assistance to significantly increase long-term and broad-ranging engagements between companies, organizations and governments of the two countries; Significantly increase knowledge exports, civic...

Teva continues to sign compromises in the opioid case - which indirectly caused the deaths of 500,000 drug users in the U.S., amid addiction to these substances - that has plagued the stock in recent years. Acquired by ABBVIE -0.36% in 2019. The two companies will jointly pay $ 161.5 million. In practice, Teva will pay the state $ 75 million over a 15-year period, along with hassle and legal costs of $ 8 million. Teva will also supply the Narcan drug over a 10-year period worth $ 27 million. West Virginia has already reached agreements with Johnson & Johnson, by the way

The Monetary Committee of the Bank of Israel decided today (Monday) to raise the interest rate in the economy by 0.4 percentage points, so that the interest rate in the economy will now rise from 0.35% to 0.75%. This is the second rise in interest rates in the economy after a previous rise in April. The relatively sharp rise, contrary to the forecasts of most economists for an increase to 0.6%, signals the intention of the Bank of Israel to fight more resolutely to moderate the rate of inflation in Israel. The last time the interest rate reached 0.75% was in July 2014, about eight years ago

Hospital medical staffs work Thursday morning in a Saturday format in protest of recent cases of violence in medical centers. Protests and demonstrations are taking place in hospitals across the country with the participation of senior Ministry of Health officials. The director general of the ministry, Prof. Nachman Ash, said that this is a "difficult time", but the phenomenon is not new. "We have been dealing with it for a very long time. "In the last few months there have been a number of difficult incidents and there are a lot of small incidents that do not reach the eye of the media and...