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Shufersal, a prominent player in the food retail sector, reported a remarkable 68% surge in operating profit for the second quarter of 2023 when compared to the same period in 2022. The figure stood at a staggering NIS 89 million. Despite this noteworthy profitability upswing, Yitzhak Abarkhan, the Chairman of Shufersal, has emphasized that the company is far from content. Sources indicate that the retail giant is embarking on another sweeping efficiency program, poised to significantly impact its financial landscape throughout 2024 and 2025

In a decision reached during today's Electricity Authority plenum meeting, the electricity prices in Israel are set to increase by 2.6% starting February 1, 2024. The approval follows a three-week public hearing process and aims to address various challenges, including economic difficulties due to the ongoing war

The Knesset's Finance Committee approved the law to reduce gender gaps in the labor market and raise the retirement age for women. Under the bill, the retirement age for women from age 62 to age 65 will be raised, over 11 years. The committee has approved a number of tools to make it easier for women to integrate into the labor market or reduce harm. The total cost will amount to about NIS 1 billion. The following are the various measures set forth in the law that will enter into force in January 2022 and were approved by the committee and the Knesset members who dealt with the issue, in...

More than half a year after the digital wallet Apple Pay was launched in Israel and after more than a year that phone users with the Android operating system pay here at the box office with the mobile phone: Google Pay arrives in Israel. She enters the country late after a number of postponements. The Google payments app will be available tomorrow in the Google app store (Google Play) and Israeli customers of all banks and credit card companies will be able to use Google's digital wallet for the first time. You have to download the app (for free), enter credit card numbers into it, take...

A business delegation from India, the fastest growing economy in the world, arrived in Israel. This week, the "India Week in Israel" events are being held under the leadership of the Innovation Authority, the Indian Embassy in Israel and the Foreign Trade Administration of the Israeli Ministry of Economy in New Delhi. During the events, a delegation of 30 CEOs and chairmen of leading companies in the Indian high-tech and technology industry arrived in Israel for a cooperation conference in the field of innovation

The State Attorney's Office filed an indictment against MK Haim Katz as part of a plea agreement signed with him, according to which he will be fined and given a suspended sentence only. As part of the plea bargain, the offense of fraud and breach of trust attributed to Katz was reduced to the offense of conspiracy to achieve a kosher purpose by improper means. This, at the end of negotiations that lasted a year between his defense attorneys and Attorney General Avichai Mandelblit and the State Attorney's Office. Katz, who will be represented by attorneys Noyet Negev, Yana Fogel and Tuval...

Rav Bariach, controlled by Shmuel Donnerstein (60%), announced today (Wednesday) that it is joining the solar trend. Rav Briach Energy, a subsidiary of Rav Briach, will, together with Golan Solar, establish a company for the marketing and sale of components of solar systems - which will probably be called "Golan Latch". The initial investment is about NIS 15 million. Golan Solar is a consulting company in the solar field, which is owned by the entrepreneurs Boaz Presler, Eyal Bahrav and Uri Lieberman, and is involved in solar projects worth NIS 300 million. Rav Barih will hold about 66% of...

The IMF economists express concerns that the conflict in Gaza could escalate further, and continued attacks by the Houthis in the Red Sea, a crucial route for 11% of world trade, could disrupt supply chains and impede the global recovery. The ongoing war in Ukraine adds to the risks, potentially causing spikes in food, energy, and transportation prices, which have already seen a sharp increase

Gross domestic product (GDP), at constant prices and after seasonal adjustment, rose by an annualized 2.2% in the second half of 2018, according to the first estimate released by the Central Bureau of Statistics on Sunday, following a 3.4% In the first half of the year and an increase of 4.3% in the second half of 2017. The decline in growth is explained by the stagnation in exports of goods and services, the decline in investments and the slowdown in expenditure on private consumption, and mainly in the purchase of vehicles

An anti-aircraft missile fired from Syria at Israel fell overnight in the Negev, after an attack attributed to Israel. An air defense system was activated against Syrian anti-aircraft fire, and in response the Air Force attacked the battery from which the missile was fired. In Syrian space. According to reports in Syria, the air force attacked several targets in the Damascus area shortly after 01:30 tonight, and then several surface-to-air missiles were fired, one of which fell in the south of the country. An IDF spokesman said that "the missile, apparently an SA5 model, which reaches a...