Economy

After a loss of 60.5 million shekels in the first quarter, Dan Hotels ended the second quarter with a loss of only 2.3 million shekels. The chain's revenues jumped by 10.8% compared to the same period last year to approximately 418.9 million shekels, though high financing expenses continue to weigh on the bottom line.

While employers in Israel praise the productivity of the approximately quarter-million workers who replaced the Palestinians, severe rights violations and appalling living conditions are being exposed, threatening to lead to an unprecedented humanitarian crisis.

The Novolog healthcare group has announced the departure of CEO Aviad Busi and CFO Yaniv Vidavsky. Zeev Mansour, formerly CEO of Logisticare, will take over as the new CEO in December.

The Zoglovek Teva brand is expanding its plant-based series and launching two new products, including a special version of the popular corn schnitzel in the shape of three animals, alongside a crunchy snack for adults.

On Wednesday, the most important company in the world for AI trading will report, and the entire market is holding its breath. At the same time, Fed Chair Kevin Warsh will appear for the first time at Jackson Hole, and the central bank's preferred inflation index will be released. Everything you need to know before a fateful week on Wall Street.

The Pozis family is reshaping Novolog: following a board shake-up and the departure of key executives, Zeev Mansour has been appointed CEO. With extensive experience in logistics management, Mansour is tasked with improving the profitability of the company's core operations.

Yaffa Ben-David warned on 103fm radio that the education system is currently short of nearly 5,000 teaching staff, and argued that without addressing the root of the problem, the situation will worsen: "Salary is important, but it alone will not solve the shortage."

Bank Leumi has provided a $400 million credit line to AppsFlyer. This facility will allow the company to support ongoing operations without the need for further fundraising or equity dilution.

The National Insurance Institute's expenditure on medical cannabis reimbursements for work-related injury victims and victims of hostile acts has surged in recent years. Data shows a sharp increase in the number of eligible individuals, particularly among victims of hostile acts. Here is how the reimbursement mechanism works and who may be eligible.

Henry Shaul Schwarzbaum requested that profits from the sale of Applied Materials shares, received via options, be taxed at a rate of 25%. However, the District Court rejected his claim, ruling that the marginal tax rate must apply, as demanded by the tax assessor. The judge noted that Schwarzbaum benefited from the tax deferral under the agreement and cannot now disavow its terms.

Eran Prezenti, partner and head of the intellectual property practice at the Firon law firm, died over the weekend of cardiac arrest. For over two decades, he dealt with copyrights, patents, and trademarks, and was also involved in battles against the distribution of pirated content.

After leading a successful turnaround at his previous company and establishing a logistics center worth hundreds of millions of shekels, Zeev Mansour has been appointed to lead the Israeli logistics and medical group Novolog.

PayBox is lowering barriers for group payments, allowing users to transfer up to 10,000 shekels per month from any card. The platform has also introduced the ability to transfer group administration to other users.

The global risk level is rising, and in Israel, this trend is joined by renewed tension on several fronts. Government bond yields are approaching dangerous levels. The bar of expectations for Nvidia's reports is sky-high, and some wonder if it can be cleared. Another wave of reports will flood Tel Aviv, with publications from insurance companies Phoenix, Menora, and Harel. Also, a critical...

There is no need to leave the house, look for parking, or visit multiple branches to check where your grocery basket is cheaper. Comparing prices online can save you a significant amount of money, and a check conducted via the Pricez website shows a gap of more than 23% between the cheapest and most expensive chains.

The qwic app by WorldCom Finance consolidates international transfers, a digital wallet, and services for foreign residents and migrant workers, alongside a solution for Israelis who want to transfer money abroad.

A veteran Israeli fintech company, which performs hundreds of thousands of transfers a year, is launching a new digital platform designed for Israelis and foreign workers, promising to break away from outdated interfaces.

The company, which has already sold 700 apartments in Sde Dov, is selling the commercial portion: REIT 1 will acquire approximately 12,400 sqm of retail and office space and about 127 parking spots.

Following an exceptionally successful year on the stock exchange, Blender Technologies reports a transition from loss to net profit, presenting sharp revenue growth driven by credit solutions and new technology agreements.

The digital currency market is showing volatility in both daily and weekly segments. Most leading assets recorded a surprising decline on a daily level, though Bitcoin maintains its historical highs.

The largest optics chain in Israel has signed an extensive cooperation agreement with the Meuhedet health fund. Under the agreement, the fund's insured members will enjoy subsidies and extensive benefits on eyeglasses, frames, and lenses for children and adults.

After Migdal and Clal presented a return on equity of over 22% and record core profits last week, the last three insurance companies complete the picture this week. And on the other side of the stock exchange, residential developers continue to plummet - and this is exactly the contrast that is important to know.

Israeli technology company UBTECH has signed a seasonal sponsorship agreement for a VIP box at the Menora Mivtachim Arena to host clients and partners during Euroleague and league games.

Louis Wai-Hung lost all his assets during the financial crisis and declared bankruptcy in 1999. After building an agriculture and food empire in Malaysia, he presents his new complex, addresses rumors about his net worth with humor, and discusses his recovery from a stroke.

The Ministry of Finance reports a wave of real estate deal cancellations, but forgot to mention an important fact: in some cases, most of the cancelled deals have already "rolled over" and the apartments were sold to other customers. Kata Group, which had 7 deals cancelled in the quarter, has already sold 5 of those apartments - and at higher prices. Are the figures not dramatic?

Two older siblings of the Silynxcom founding family have filed a 17 million shekel lawsuit against their sister and her husband, CEO Nir Klein. The plaintiffs allege that the defendants acted to illegally dilute their inheritance shares.

The Tel Aviv District Court issued a temporary injunction against an electrical appliance importer that imported Tineco brand wet-dry vacuum cleaners behind the back of the exclusive importer.

The inspector for multi-family housing in Haifa approved short-term apartment rentals on Airbnb and Booking, despite neighbors' objections. The decision joins a series of conflicting rulings on the subject, and the opponents have already appealed to the District Court.

The Kishrei Teufa group has partnered with the Palmo group to develop the HORIZA LOUTRAKI apartment complex in Greece. Located an hour from Athens, the project will feature 75 residential units designed for both vacation use and short-term rentals.

Amid financial reports and renewed tensions around the Strait of Hormuz, foreign investors have sharply changed their preferences on the Tel Aviv Stock Exchange. An energy company leads the buying, while banks and the defense sector have returned to the spotlight.

The court approved a settlement in a class action lawsuit against Flydubai. Passengers who purchased a connecting ticket but failed to reach their final destination due to a segment cancellation will be eligible for additional refunds via financial vouchers.

A Russian word surged by 1,000% to the top of hot searches in Israel, against the backdrop of reports on pension increases in Russia starting in September. However, an examination of the agreement with Israel reveals that one of the prominent benefits — doubling the fixed component for those aged 80 and over — is not paid to pension recipients living in Israel. At the same time, thousands of...

The leading chef is selling his full holdings in the successful brand to his business partners in a massive deal that will transfer ownership of the branches in Tel Aviv and London to them. At the same time, Shmueli is already working on developing a new and intriguing venture.

Instead of empty stands in Romania, Hapoel Be'er Sheva is opening its gates to the local public: the club will allow Romanian fans to purchase tickets for matches in Europe, which is expected to fill the stadium and bring millions into the club's coffers.

Dutch car manufacturer Spyker has unveiled the C8 Preliator XXV, a limited-edition supercar with only 25 units to be produced. The company is now under the control of Ukrainian businessman Vladimir Nosov.

Following delays due to the war, the tender for the renewal of the site of the veteran concert hall has been launched. The project includes residential, commercial, and office spaces in towers, with the tallest reaching 46 floors. Out of 481 units, 127 will be allocated for municipal use.

The public real estate company reports 100% occupancy in projects designated for long-term rental, and annual revenues of about 35 million shekels. Will its bet on Sde Dov also pay off?

The battered stock of the kibbutz-owned company led the Tel Aviv Stock Exchange last week with a jump of 33.65%, after confirming initial contacts for an investment by the FIMI fund. The jump returned the company's value to about 250 million shekels - a recovery from the low recorded below 200 million, but still around an all-time low and below equity. What is behind the jump, and where can it go...

The esteemed chef is parting ways with the culinary institution he founded 12 years ago. Shmueli sold his full holdings to his partners from the Kolber family for millions of shekels. The separation was amicable and without conflict. The chef will continue to lead the "Maarava" complex and is planning a new project.

In Globes' weekly section, we analyzed the performance of prominent Israeli stocks on Wall Street. Wix stock has doubled its value since the June low, driven by the rapid growth of its subsidiary, Base44. Teva reached a decade-high peak thanks to a debt rating upgrade and accelerated FDA approval. Meanwhile, the deal to sell LivePerson is delayed due to a lack of a majority among all shareholders.