Business news
Israel's business and economic news in English, from the country's financial press. Hebrew headlines are translated; every story links to the publisher.
Cantor Investment Bank sees opportunity in semiconductor equipment stocks, though it notes that while AI infrastructure buildout is steady and prolonged, Nova and Camtek's growth rates are lower than the broader market. Both stocks have fallen double digits from their recent peaks.
Product recall adds to Maytronics' woes
Maytronics has issued a recall for its Niya Aquasweep S10 pool vacuum cleaner due to fire hazard concerns, compounding the company's financial difficulties.
Globes · 3 hours ago · Maytronics
Declines in Tel Aviv ease: banks weigh down, technology rises
The Tel Aviv stock exchange continues to decline, led by bank and financial stocks dragging the market down, while the technology sector and energy index gain. Kalal is considering an investment in Wilio Bais at a pre-money valuation of 600 million shekels, and Doral jumps on the back of massive server farm revenue guidance.
Globes (Hebrew, translated) · 3 hours ago · Kalal, Wilio Bais, Doral
Report: Nice in talks to sell Actimize to Canadian Brookfield fund for about $2 billion
According to Sky News, Canadian investment giant Brookfield is in negotiations to acquire Actimize from Nice for approximately $2 billion. The financial risk management operations, based on Actimize which Nice acquired in 2007, have been reported to be under sale consideration in recent months.
Globes (Hebrew, translated) · 3 hours ago · Nice
Class action against banks approved: they did not pay interest on positive current account balances
A class action lawsuit has been approved against Bank Leumi, Mizrahi Tefahot, Discount Bank, and Bank Hapoalim for failing to pay interest on positive current account balances. The plaintiffs claim the banks acted in bad faith by not paying interest despite significant interest rate increases in the economy since April 2022, with alleged damages in the billions of shekels.
Globes (Hebrew, translated) · 4 hours ago · Bank Leumi, Mizrahi Tefahot, Discount Bank, Bank Hapoalim
On the Way to Half-Billion Shekel Dividend Distribution: Partner Buys Out All Opponents
Partner Communications is repaying debt to bondholders who opposed a special dividend distribution, in an effort to clear the way for the payout. The company previously completed a similar early redemption of 140 million shekels for Series H bonds that had opposed the move.
Globes (Hebrew, translated) · 4 hours ago · Partner Communications, Ampisea
Just before the IPO, Karpoor appoints a different chairman
Karpoor's former CEO Michael Lobowitz will move to a business development advisor role rather than becoming co-chairman at Electra Consumer Products as previously announced. The company's "basket of the state" program is expected to end next month due to high operating costs and profitability pressure.
Globes (Hebrew, translated) · 4 hours ago · Karpoor, Electra Consumer Products
As car insurance premiums plummet, "Globes" finds out why
According to the Central Bureau of Statistics, the average price of vehicle insurance dropped by 8% in August alone.
Globes · 4 hours ago
Doral and Ampa project $150 million annual revenue from data center in Har Tuv
Renewable energy company Doral and real estate company Ampa report expectations for $150 million in annual revenue from a data center they are building in Har Tuv, near Beit Shemesh.
Following the Competition Authority's decision to block a transaction, Hersh and Hamburger will pay 135 million shekels in compensation to Discount Bank and the remainder to Bank Leumi (International).
Globes (Hebrew, translated) · 5 hours ago · Hersh and Hamburger, Discount Bank, Bank Leumi, Kael
Clal Insurance renews pursuit of investment bank Value Base
Clal Insurance is in early-stage negotiations to acquire investment bank Value Base at a valuation of NIS 600 million.
Globes · 6 hours ago · Clal Insurance, Value Base
During the Crisis: Mitrani Aquatics Recalls Product Due to Fire Risk
Mitrani Aquatics, a pool products manufacturer, is recalling the Niya Aquasweep S10 pool cleaner after discovering that water could enter the device and cause electrical shorts and fires. The recall comes during a difficult period for the company, which is experiencing losses and declining sales while seeking investment from venture funds.
Globes (Hebrew, translated) · 6 hours ago · Mitrani Aquatics
Clal Insurance exploring investment in one of Israel's veteran investment banks
Clal Insurance is examining an investment in Willow Base, acquiring 18-20% of the company at a valuation of NIS 600 million pre-money. Willow Base, founded in 2013, is controlled by Victor Shmarich and Ido Neuberger, with the remainder held equally by Nathan Hetz, Dudi Wertheim, and Mitav investment house.
Globes (Hebrew, translated) · 7 hours ago · Clal Insurance, Willow Base, Mitav
Curse or Trend: What History Teaches Us About September and October in the Markets
The article examines the historical pattern of negative returns in summer months on Wall Street and a series of major global events that have occurred in September and October, exploring what lessons investors can draw and whether similar risks lie ahead for Israeli and global markets.
Globes (Hebrew, translated) · 10 hours ago
Buy and sell stocks around the clock: global exchanges prepare to extend trading hours
Nasdaq plans to launch 23-hour daily trading within months, while stock exchanges worldwide from Seoul to Tel Aviv are considering similar moves to extend trading hours.
Globes (Hebrew, translated) · 10 hours ago
Competition Authority puts Discount Bank's Cal sale in doubt
The Israeli Competition Authority has ordered the Horesh family's Union Investments to sell Super-Pharm if it wants to proceed with acquiring Cal from Discount Bank.
Globes · 23 hours ago · Discount Bank, Cal, Union Investments, Super-Pharm
A selection of recent real estate deals in Israel across multiple cities including Tel Aviv, Rehovot, Beit Shean, Afula, Sderot and Yerucham.
Globes · 1 day ago
Goldman Sachs invests $400m in Cyera
Goldman Sachs has invested $400 million in Israeli cybersecurity company Cyera, extending the company's $600 million Series C round announced in June at a $12 billion valuation.
Globes · 1 day ago · Cyera
Cognex buys Israel-based RealSense for over $600 million
Cognex has acquired RealSense, the Israel-based 3D vision company that was previously owned by Intel, for over $600 million. The RealSense division was purchased by its employees for $50 million after Intel decided to close it two years ago.
Globes · 1 day ago · RealSense
Tower crane company Skyline in NIS 340m exit
ILift, a provider of hoists for building sites, has acquired control of Skyline Cranes and Technologies from its founder Baruch Parnas for NIS 340 million.
Globes · 1 day ago · Skyline Cranes and Technologies, ILift
Direct Finance buying control of Sigma City
Direct Finance is acquiring control of Sigma City, a company specializing in mezzanine finance for residential real estate projects, as part of Direct Finance's expansion into real estate activities.
Globes · 1 day ago · Direct Finance, Sigma City