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El Al lost $ 105 million in the second quarter of 2020, compared with a profit of about $ 100,000 in the same period last year, according to the financial statements published by the company tonight (Wednesday). El Al's losses in the first half of 2020 amounted to approximately $ 244 million. The reports also show that the company has a negative cash flow from operating activities of approximately $ 23 million, compared with a positive cash flow of approximately $ 110 million in the corresponding quarter last year. It should be noted that the results for the quarter are affected by the...

About three weeks ago, another round of locked-in profits ended, which resulted in tax revenues of NIS 2.9 billion, contrary to the forecast given at the end of 2021, which was only about NIS 1 billion. The operation was designed to deal with the problem created by the early version of the Capital Investments Encouragement Law, which resulted in companies locking up profits and not distributing them in order to avoid paying taxes

The Innovation Authority launches a special track for start-ups established by women: 75% grants for R & D for enterprises owned by entrepreneurial women. The purpose of the Innovation Authority is to double the number of initiatives supported by the Authority within two years. In the framework of the approved track, the financing for enterprises owned by women entrepreneurs (at least 33% ownership and managerial technological role in the company) will be 75% for a first-year R & D grant and 70% for the second year . The budget ceiling will be up to NIS 2.5 million in the first year and...

Teva will be prosecuted for providing illegal incentives to two charities to encourage the use of the drug Copaxone to treat multiple sclerosis, and allow the company to bounce the price of the drug without hurting the demand for the drug. A Massachusetts court has rejected Teva's request to outright dismiss a lawsuit filed against it by the U.S. Department of Justice in August 2020. According to the lawsuit, Teva fraudulently withdrew payments from the federal health insurance company Medicare, flowing $ 328 million to two charities between 2006 and 2015. According to the lawsuit, the...

The Israeli company Telrad Networks is sold to the Liquid Intelligent Technologies telecom group for about NIS 200 million in cash. The value of the deal is about 27% higher than the value of the company this morning on the Tel Aviv Stock Exchange. The deal is subject to the approval of most of Telrad's shareholders, and the company estimates that it will be completed within a few months. The largest shareholder in Telrad is the Fortissimo Fund, which holds about 41% of the company's shares. The transaction will take place in the format of an inverted triangle merger. The acquiring...

Leading Israeli cybersecurity company SentinelOne (SentinelOne) is reportedly evaluating potential strategic options, including a possible sale. According to a report published by Reuters, this revelation has led to a surge of 13% in the company's Wall Street trading, characterized by high turnover. Having been traded at a market value of $4.2 billion, SentinelOne has emerged as an acquisition target following an 80% decline in its stock value over the past two years. Insiders familiar with the situation have disclosed that the company has engaged the services of investment bank Qatalyst...

The resignation of the director general of the Ministry of Finance, Keren Terner Eyal, just five months after taking office, is taking its toll on the ministry: in the next two weeks, senior officials of the Ministry of Finance and the Bank of Israel will hold meetings with the three major credit rating companies - S&P Israel's current situation and its ability to meet its obligations. The meetings will be held this time in Zoom, and will not include shared and friendly meals with representatives of the rating companies. Generally, rating agencies do not take an interest in the retirement...

The US House of Representatives this evening (Thursday) approved by a majority of 420 supporters against nine to provide Israel with a total of $ 1 billion in aid for the purpose of equipping interceptors and Iron Dome batteries. The bill will go to a Senate vote and then pass to Biden for approval. The law has won support from all parts of the House - Democrats and Republicans. Of the few opponents, eight were Democrats - most of them progressives known for their opposition to American aid to Israel - and one Republican. Opposing Republican Thomas Massey explained on Twitter: "My 'no to...

Recent data from the Central Bureau of Statistics (CBS) paints a complex picture of Israel's economic landscape in October, the month when the war broke out. The average salary for a salaried employee stood at NIS 12,492, showing a 6% increase compared to October 2023 but a noticeable dip from September's almost NIS 13,000. Adjusted for inflation, the average salary at constant prices was NIS 10,619, reflecting a modest 2.2% uptick from October the previous year

The Bank Hapoalim published its financial results for the first quarter of 2020, and the Corona crisis was clearly evident with a sharp 76.6% drop in net profit to NIS 192 million. Bank Hapoalim is the first of the banks to publish its Q1 reports. The decrease in net profit is a significant increase in NIS 757 million in credit losses, including a group provision of NIS 603 million due to uncertainty over the effects of the Corona crisis and a preliminary step to the possibility of borrowers, including large borrowers such as a fuel group that will find it difficult to meet payments. The...