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Allenby Street, one of the bustling thoroughfares in Tel Aviv, has been shut down to vehicular traffic for an anticipated four and a half years, commencing this Friday morning. The closure is a pivotal step in the ongoing development of the purple line of the city's light rail system, with the long-term vision of transforming this segment into a pedestrian-friendly zone. However, the move has sparked frustration and apprehension among local residents and business owners who are apprehensive about the potential impact on their livelihoods

The Teva plant in Netanya will be closed by the end of next year, and about two hundred and forty workers will be fired. This was the decision of the Company's management. The laid-off employees are part of the 1,700 employees the company decided to lay off at the end of last year. The Nature Plant of Netanya produces the active part of various drugs, and is considered less profitable. Shaul Amsterdsky writes that this production activity is expected to be pressured into Israel Billionaire Warren Buffett is investing in the Israeli drug manufacturer Teva. Buffett's investment company,...

Rafael, one of Israel's leading defense companies managed by Yoav Har-Even, has posted a profit of NIS 62 million in the second quarter of 2023. This starkly contrasts with the NIS 75 million loss registered during the same period in 2022. The company's financial success is attributed to a robust growth of 29% in revenues during Q2 2023, amounting to NIS 3.1 billion

Jerusalem is gearing up for the most complex project in its history, the Blue Line Light Rail project. This groundbreaking initiative will be established using the Public-Private Partnership (PPP) method, and it is set to revolutionize the city's transportation infrastructure

The working week in Israel is shortened by one hour and the next month will be 42 hours. This is in accordance with an order extending the decision to all employers in Israel as well. Minister of Labor and Social Affairs Haim Katz signed the extension order and the move was led by Histadrut chairman Avi Nissenkorn. The move to shorten the work week was made possible by a general collective agreement signed a year ago between Histadrut Chairman Avi Nissenkorn and the chairman of the business organizations Shraga Brosh.

A sixth cellular operator joined the Israeli market. The communications company Xfone announced that it is entering the market with a cellular package at a price of NIS 19 a month, which includes 10 gigabit surfing, for two years - a low price compared to the local market. The company also announced a special launch package for NIS 29 to 40 gigabytes surfing, a fixed price for life. This package will be available only in the coming weeks and is intended for the first members. "We set up a quality cellular network, cost-effective pricing and work hard to be a decent and transparent company,"...