Financial and economic News from israel - Economic World by Dan Bielski

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Minimum Wage Increases: Set at 6,247 Shekels Amid Inflation and Worker Shortages

Posted on Mar 17, 2025 by Ifi Reporter - Dan Bielski

Labor Minister Yoav Ben-Zur has officially signed the annual minimum wage increase, which will take effect on April 1. Starting next month, the minimum wage will rise to 6,247 shekels per month,...

Matrix and Magic Announce Merger Deal - Creating $2.14 Billion IT Services Giant

Posted on Mar 11, 2025 by Ifi Reporter - Dan Bielski

In a significant move within the Israeli tech sector, software companies Matrix and Magic confirmed on Tuesday that they have signed a memorandum of understanding to begin negotiations for a...

Delek Group to Become Controlling Shareholder Following 1.3 Billion Shekel Investment

Posted on Feb 20, 2025 by Ifi Reporter - Dan Bielski

American blockchain analytics firm Chainalysis has acquired Israeli cybersecurity startup Hexagate, a company specializing in Web 3.0 and blockchain...

Israeli Cybersecurity Company Skybox Security Shuts Down, Lays Off All Employees

Posted on Feb 19, 2025 by Ifi Reporter - Dan Bielski

Skybox Security, an Israeli cybersecurity firm, has laid off all of its employees and ceased its operations, marking the end of nearly 23 years in business. The company, which employed an...

Delta Brands Sees Strong Growth in 2024 with Increased Revenue and Profit

Posted on Feb 11, 2025 by Ifi Reporter - Dan Bielski

Delta Brands has closed 2024 on a high note, reporting a substantial 26% increase in revenue, reaching NIS 1.2 billion, while net profit surged by 37% to NIS...

Israel has slightly improved its position in the 2024 Global Corruption Perceptions Index

Posted on Feb 11, 2025 by Ifi Reporter - Dan Bielski

Israel has slightly improved its position in the 2024 Global Corruption Perceptions Index, published today (Tuesday), moving up to 31st place, compared to 33rd place in the previous year's...

Mobileye Reports Challenging Year with 23% Drop in Q4 Revenue - Forecasts Slow Recovery in 2025

Posted on Jan 30, 2025 by Ifi Reporter - Dan Bielski

Mobileye, the autonomous vehicle technology company led by CEO Amnon Shashua, has closed one of the most difficult years in its history, reporting a 23%...

Castro Hoodies Secures NIS 30 Million Investment from Institutional Investors

Posted on Jan 30, 2025 by Ifi Reporter - Dan Bielski

Castro Hoodies, a leading Israeli fashion group, has successfully raised NIS 30 million from institutional investors, issuing 3.5% of the company’s shares in return. The funding round was...

Vehicle License Fees Set to Increase by 3.24% in April 2024

Posted on Jan 30, 2025 by Ifi Reporter - Dan Bielski

According to documents released today by the Ministry of Transportation, Israeli motorists will face an increase in vehicle license fees starting in April 2024. The 3.24% fee hike is attributed...

The government has authorized Palestinian construction workers to enter Israel

Posted on Jan 30, 2025 by Ifi Reporter - Dan Bielski

Castro Hoodies, a leading Israeli fashion group, has successfully raised NIS 30 million from institutional investors, issuing 3.5% of the company’s shares in return. The funding round was...

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El Al Appoints Levi Halevi as New CEO; CFO Yaakov Shahar to Retire

Sep 20, 2026 by Ifi Reporter - Dan Bielski

El Al Israel Airlines announced a major leadership transition this afternoon, with the appointment of Levi Halevi as the airline’s new Chief Executive Officer . The decision was made by El Al’s Board of Directors , following the recommendation of a search committee... Continue reading →

New Jersey Alleges $122 Million Fraud by El Al Controlling Shareholder in U.S. Nursing Homes

Dec 11, 2025 by Ifi Reporter - Dan Bielski

A report by the New Jersey State Comptroller has accused Kenny Rosenberg , the controlling shareholder of El Al Airlines (48%) , and his business partner Darryl Hagler of orchestrating a large-scale fraud scheme involving nursing homes under their ownership in the United States. The... Continue reading →

Israel Mandates Solar Panels on New Homes in Landmark Renewable Energy Reform

Dec 11, 2025 by Ifi Reporter - Dan Bielski

Israel is set to implement one of its most significant renewable energy reforms to date, as a new Ministry of Energy regulation will require solar energy systems on the roofs of all newly built homes with roof areas exceeding 100 square meters. The regulation comes into force on December 12,... Continue reading →

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