Economy

Ernst & Young is investing $100 million in rewards for employees who demonstrate adaptability, innovation, and critical thinking. The program aims to balance AI integration by fostering essential human traits.

Ashtrom has agreed to sell the Rosh Pinna Mall to GT Real Estate for 48.5 million shekels. The new owner aims to boost the property's annual net operating income from 3 million to 5 million shekels.

The severe disruptions at Israel's main entry and exit gate lead to a demand for deep structural change: these are the steps that will introduce private competition and prevent the workers' committee from holding an entire country hostage.

The major defense company has signed contracts totaling approximately $270 million to be fulfilled over six years. This order adds to a massive backlog that secures the company's revenue for years to come.

An in-depth audit at Cohen Properties revealed that controlling shareholder Mike Cohen withdrew more funds than previously reported. Cohen is stepping down as CEO but will remain on the board. Despite the need to restate past financial reports, the company is taking active steps to stabilize its liquidity and recover the funds.

Lime is expanding its operations and will deploy about 500 electric bicycles and scooters in the capital of the Negev, in cooperation with the municipality and the municipal company "Yaadim". Mayor Danilovich: "A new chapter in urban transport"

Fattal Holdings is merging its ROOMS workspaces with SwitchUp. Following the deal, valued at 1.4 billion NIS, the Phoenix insurance group will hold a 20% stake in the combined entity.

The company increased its share of apartment sales in the second quarter, and revenues rose, mainly due to revenue recognition from the Sde Dov project. However, the company recorded a loss of 13 million shekels compared to a profit last year. Eli Avisror: "There are challenges, but we sold 205 apartments."

The brand is opening its tenth branch in the country with an investment of about half a million shekels and is introducing its new holiday collection for the first time at a leading mall in the Shephelah region with attractive prices.

The IT and integration group Malam Team announces the acquisition of one of the veteran software and information security companies in the country, which will become a subsidiary and strengthen the group's cyber arm.

After over a decade in senior management roles in retail and consumer goods, the person previously chosen as Israel's Marketer of the Year joins the sports giant to lead its marketing strategy.

One of the largest deals in the US market is underway: a leading international broker is acquiring a giant agency with over 10,000 employees. Here is how the industry's activity will be affected in the coming years.

The real estate company continues to maintain its pace regarding sales to the free market - a pace of 225 housing units in half a year, identical to last year's pace, but sales under the 'Discounted Apartment' framework plummeted from 552 apartments last year to 82 this year. How many apartments did it sell in the quarter and what is its forecast for the future?

Despite market headwinds, the company marketed apartments at an average price of 6.7 million shekels. In Sde Dov, 65 units were sold, including 46 formal sales contracts. The company reported a recovery in July-August following a slowdown in the second quarter.

The strengthening of the shekel has negatively impacted the results of Israeli hotel chains operating abroad, yet companies maintain that this effect is temporary and will not halt their international expansion strategy.

The Arieli Group has reached a framework agreement with Phoenix Investment House to settle debts, ensuring it retains control of Elron. The lender had previously demanded repayment due to a decline in the value of the pledged shares.

The US Federal Trade Commission has filed a lawsuit against Amazon, accusing the e-commerce giant of systematically overcharging advertisers. The regulator claims that auction manipulation generated $20 billion in illicit gains.

Young striker Sayed Abu Farchi completes a high-profile move to the MLS and will join the Colorado Rapids after agreeing to waive a portion of his future sale percentage to secure his release.

How much is a campaign for an account with 100,000 followers worth, and how have opinion leaders become business partners earning commissions on every sale? The data behind the industry is revealed.

Danya Cebus has secured a NTA tender for the second phase of preparatory works at the Segula depot for the M2 metro line, valued at over 100 million shekels.

Major General (res.) Amikam Norkin has been chosen to lead the local operations of the defense-tech giant, and is expected to deepen work with the defense establishment and Israeli industries. At the same time, Globes has learned that the company is conducting a massive fundraising round: its scope has reached about $10 billion to date, and it has not yet closed.

Following his official retirement from football, the net worth and bank account details of the former Israel national team star have been revealed, including his latest major real estate acquisition.

The CEO of the technology giant Apple, Tim Cook, is ending his tenure today (Monday), a position he held for the last 15 years. The person who will fill his place is the company's Senior Vice President of Hardware Engineering, John Ternus. Even after leaving, Cook will continue to serve as the company's Chairman.

Itzik Oz, Chairman of Phoenix Agencies, plans to acquire a 7% stake in the investment house Pasternak-Shoham as part of its upcoming IPO. The offering is planned for later this month at a valuation of 280 million shekels.

A historic era comes to an end as Tim Cook marks his final day today as CEO of the company. The person chosen to succeed him will have to lead the tech giant in the burning AI race.

The chip giant is deepening its ties with its Taiwanese partner through a dramatic financial move aimed at controlling the artificial intelligence market and holding back major competitors in the industry.

The income-producing real estate company G City has removed the approval of a special compensation package for incoming CEO Keren Khalifa from its shareholders' meeting agenda following opposition from institutional investors. Market sources previously cited this move as a factor in the collapse of the deal to sell G City to Tzahi Abu.

The Ministry of Communications has approved the transfer of control over cellular provider Hot Mobile from Altice to a group led by Delek Retail and the Keystone fund. The deal is valued at 1.8 billion shekels.

The Ministry of Communications has given the green light for the sale of the mobile operator Hot Mobile to Delek Israel, Keystone, and Leumi Partners, after the Competition Authority approved the deal earlier this month. The deal values Hot Mobile at approximately 1.2 billion shekels.

Meet "Ya Lily," an internet star with hundreds of thousands of followers on Instagram and Facebook, promoting products for the Chinese retail giant Temu. She is considered the company's leading content creator in Europe, but a new study by an independent organization reveals that she likely does not exist in reality. Lily is just the tip of the iceberg of an entire industry of fake accounts that...

Shimi Tavori is launching a traditional culinary venture that will go live on September 9, with his wife managing the business that will combine nostalgia with artificial intelligence.

Insurance company Harel has filed a 6.4 million shekel lawsuit against logistics firm DSV. Due to a warehouse employee's error, a shipment of high-value medicine requiring 2–8°C storage was left in improper conditions for seven days and subsequently destroyed.

Brigadier General (res.) Gabi Shahor has been appointed Chairman of the Board of the technology company Massivit. He will lead a strategic initiative to deepen the company's penetration into the defense and aviation sectors both in Israel and globally.

Lanir Group plans to raise 176 million shekels despite reporting losses and an equity deficit. Proceeds from the offering will be used, among other things, to repay loans provided by 22 private individuals.

Following a severe drought and a dramatic cut of about 90 million cubic meters in national water allocations, the Water Authority Council unanimously approved an emergency measure to supply additional fresh water to farmers. The Director of the Water Authority stated: "A delicate balance that provides oxygen and a safety net for farmers at this time."

The technology company TurboGen, which developed a micro-turbine for local electricity and heat production, is becoming a dual-listed company and will also trade in the US. What is behind the move, who owns it today, and where is the gap between the story and the numbers?

Enlight has signed a 12-year agreement to purchase green electricity from Rapac Energy. The total consideration for the deal is estimated to reach approximately 495 million shekels.

G City reached 91% in the tender offer for Citycon shares. The company intends to initiate a squeeze-out of remaining shares and delist Citycon from the Helsinki Stock Exchange. Chaim Katzman announced plans to sell non-core assets and continue deleveraging.

The second-quarter financial reports of the Luzon Group reveal phenomenal growth and a significant increase in net profit, driven by a strategic move within the company's energy division.

Shein has completed its initial public offering on the Hong Kong Stock Exchange at a valuation of approximately $26 billion, after raising $1.7 billion. This is significantly lower than the 2022 valuation.