Articles

The use of credit cards abroad will soon be added to the list of products that are becoming more expensive in Israeli life: a six-year dispute between the credit card companies and the tax authority may soon end in a compromise, the consequences of which could make the fees for using credit cards abroad more expensive. In December 2016, the Tax Authority issued an assessment to the credit card companies that mainly deals with the payment of VAT for income from credit card transactions carried out abroad, as well as online purchases on websites abroad. When a customer carries out such...

A review by the chief economist at the Ministry of Finance indicates that in Israel, the corona crisis did not lead to a wave of resignations and a mass exit from the labor market. According to the review, as of June 2022, the employment and participation rates in Israel have somewhat exceeded their pre-crisis level. The employment rate of those aged 15 and over in June 2022 was 61%, 0.1 percentage point higher than before the crisis, and the participation rate (63.4%) exceeded its pre-crisis level by half a percentage point. Nominally, the number of participants in the labor market in June...

Prolonged shutdown of three power plants, for the purpose of carrying out maintenance and renovation work, resulted in a decrease in the operating profit of the OPC company controlled by the Canon company of the Idan Ofer group. OPC, which is managed by Giora Almogi, lost NIS 11 million in the second quarter of 2022, an 85% decrease in loss compared to the corresponding quarter in 2021. The second quarter, which is a transition season in Israel and the US, is the seasonally weakest quarter in OFC's operations. The company operates two power plants in Israel and controls (70%) the American...

Commit, the leading technology services company in Israel, is expanding to new offices, and continues to recruit dozens of employees, who will join its 600 employees worldwide. Commit is a global technology services company with offices in Israel, New York and Europe. The company was established in 2005 and has about 600 multidisciplinary innovation experts, who serve a wide range of companies, from startups in their infancy to product companies and large organizations. Commit is the only one in Israel that provides a comprehensive answer to all the technological needs of its customers and...

Ariel Koren, a marketing manager at Google who was one of the leaders of the protest against "Nimbus", the company's agreement with Israel, has announced that she is resigning from the company. According to her, Google tried to harass her following her activism. Koren, a 28-year-old American of Jewish origin, feared that the technology that Google would provide to Israel would harm the Palestinians. Koren worked in the field of educational products at Google for seven years. For more than a year, she organized the protest against Nimbos, a $1.2 billion contract under which Google and...

The Innovation Authority and the Ministry of Economy and Industry are launching an innovative aid track to increase research collaborations between manufacturing companies and academic institutions, to the extent of NIS 4 million The track will allow manufacturing-oriented industrial companies to order studies from the leading research institutions in Israel in a way that will allow the local industry to incorporate groundbreaking knowledge into products and production processes, advance to the forefront of industrial innovation and take leading positions in global markets

Flight prices in the world and in Israel during the upcoming holidays are expected to be higher than usual. The demand for flights after the exit from the period of the corona closures encountered many challenges, including the energy crisis created by the war in Ukraine and a shortage of personnel in the aviation industry. The price of jet fuel - which is usually about a quarter of the airlines' total operating costs - is skyrocketing. The increase in its price this year is twice as high as the increase in the price of crude oil - which reflects the huge demand for flights. Following...

Less than half a year after he started a tender process for the sale of the company he founded, Haim Monheit, an almost unknown entrepreneur, his Elmo from the city of Petah-Tikva for more than 700 million dollars to the giant German concern Bosch. Bosh agreed to pay more than the American company Rockwell Automation and beat it in the tender. One of the biggest exits of a private shareholder in recent years. Elmo is owned by Haim Monheit who founded it in 1988 together with two friends who have since retired. Elmo develops advanced traffic controllers and employs 330 people in Petah...

Apple unveiled the iPhone 14. At its fall event, the technology giant presented the Apple Watch for extreme athletes, AirPods headphones that cancel out even more noise than before, and the iPhone 14 models that for the first time include support for satellite communication and real-time accident detection; All models sold in the US will now only support eSim - what will happen to them in Israel? Just yesterday they were announced at a festive event and already today we are informed of the prices in Israel of the 4 new Apple devices: iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14...

In August, a budget deficit of about one billion shekels was measured, but the accumulated budget surplus in the last 12 months remained at 0.6% of GDP. Everything emerges from data published today (Thursday) by the Accountant General of the Ministry of Finance, CPA Yali Rotenberg. The cumulative surplus since the beginning of the year has dropped to the amount of NIS 34.4 billion - still unprecedented since the state has never had a situation where after eight months there is a surplus of funds in the state budget. What's more, the surplus is about 8% of the annual state budget