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

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Sun Pharma Completes Merger with Taro Pharmaceutical Industries in $1.6 Billion Deal

Posted on Jan 20, 2024 by Ifi Reporter - Dan Bielski

Indian giant Sun Pharma has successfully finalized the merger with Israeli company Taro Pharmaceutical Industries Ltd. After Sun Pharma's proposal to acquire all shares of Taro in May of the...

Post Bank Faces Backlash as it Raises Basic Service Rates by 50%

Posted on Jan 20, 2024 by Ifi Reporter - Dan Bielski

The Post Bank has announced a substantial increase of approximately 50% in rates for essential services, leaving its half a million customers, primarily comprised of a vulnerable population,...

Wissotzky Green Tea Monopoly Announces Price Hikes Amidst Industry Uproar

Posted on Jan 18, 2024 by Ifi Reporter - Dan Bielski

Wissotzky, a company dominating the green tea and herbal infusions market, has declared an impending price increase of approximately 8% on its magical garden and chai experience series, with...

El Al Faces Class Action Lawsuit Over Alleged Misleading Seat Practices

Posted on Jan 18, 2024 by Ifi Reporter - Dan Bielski

Tel Aviv District Court has given the green light to a class action lawsuit against El Al, the Israeli airline. The suit represents all El Al customers who purchased a flight ticket and were...

Ministry of Agriculture Boosts Egg Import Quota to Meet Local Demand by 30 Million Eggs for 3 Months

Posted on Jan 18, 2024 by Ifi Reporter - Dan Bielski

In response to a projected decrease in local egg production, the Ministry of Agriculture has announced a significant increase in the duty-free import quotas for eggs. The new quota, set at 30...

Entrepreneur Gabriel Eckstein Makes Multi-Million Shekel Exit as Food Appil Acquires Art Judaica

Posted on Jan 18, 2024 by Ifi Reporter - Dan Bielski

In a landmark deal at the beginning of January, entrepreneur Gabriel "Gabi" Eckstein, just three months shy of his 85th birthday, orchestrated a significant exit from the business...

Wizz Air Announces Return to Israel, Unveils 6 Destinations for March 1, 2024

Posted on Jan 17, 2024 by Ifi Reporter - Dan Bielski

Wizz Air, a prominent low-cost airline, revealed its plans to resume operations in Israel starting March 1, 2024. The announcement comes amidst a wave of airlines resuming services in the region,...

Vacancy Dynamics and Workforce Trends Unveiled in Recent CBS Reports

Posted on Jan 16, 2024 by Ifi Reporter - Dan Bielski

In a recent report by the Central Bureau of Statistics (CBS), December data reveals a slight increase in job vacancies, totaling 100,870 compared to November's 98,772. The "Iron...

Government Approves Revised Budget for 2024 Prioritizing Security and Civilian Needs in War

Posted on Jan 15, 2024 by Ifi Reporter - Dan Bielski

The government approved the revised budget proposal for 2024 brought by Finance Minister Bezalel Smotrich. The proposal includes amending the budget and adding tens of billions to the security...

Governor of the Bank of Israel Urges Immediate Fiscal Measures for Defense Budget and Revenue Increase

Posted on Jan 14, 2024 by Ifi Reporter - Dan Bielski

In a crucial government meeting on Sunday, the Governor of the Bank of Israel, Prof. Amir Yaron, emphasized the need for significant adjustments to the 2024 budget. While touching upon various...

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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 →

Hadas Water unveiled a first-of-its-kind under-sink system for Shabbat observant users

Mar 13, 2026 by Ifi Reporter - Dan Bielski

Israeli company Hadas Water , a developer and manufacturer of purified water bars, has unveiled a first-of-its-kind under-sink system in Israel designed to provide hot and cold purified water while incorporating a special mechanism adapted for Shabbat observant users. The system,... Continue reading →

Idit Catering Wins Tender to Operate Meat Restaurant Network at Rafael

Mar 12, 2026 by Ifi Reporter - Dan Bielski

The catering company Idit Catering , part of the Dan Hotels Group , has won a tender to operate the meat restaurant network at the facilities of Rafael Advanced Defense Systems , one of Israel’s leading defense companies. Under the agreement, Idit will... Continue reading →

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