Economy

Credit card company CAL is planning to reduce its workforce by 10% to 15%, affecting 150 to 220 positions. This move follows the loss of the El Al FlyCard franchise to Isracard earlier this year.

The company that developed a non-hormonal drug for treating hot flashes. The financial institution that began covering the biomed market. What remains of the cannabis company Tikun Olam. And the success of Israel's UroGen with a cancer treatment product. This week in biomed.

Children's shows, festivals, culinary events, and special promotions: Azrieli Malls are setting up new concept complexes with a variety of activities throughout August. All the details.

The Almog Group and partners of the Pera brand have signed a merger agreement to establish Tomiverse Hotels Ltd. The new company will combine financial strength and operational expertise to launch three major projects in Mitzpe Ramon, Tel Aviv, and the Dead Sea by 2027.

The digital currency market has shown a mixed trend of price fluctuations, changes in market cap, and a distribution of power among leading assets over the past day. The overall picture shows a relatively red trend in the crypto market.

The American commercial real estate company owned by Allen Gross has approached bondholders with a request to defer the debt repayment date by three years. Following the request, bond prices (Series E) plummeted, reflecting "junk" yields.

Amot CEO Shimon Abudraham reports an increase in office market activity following the ceasefire, particularly in the Tel Aviv CBD, while noting that deals outside the city remain challenging. In the ToHa2 tower, contracts and advanced negotiations cover about 75% of the space. The company's NOI rose by 3%, and net profit climbed by 10% to 329 million shekels.

The Population and Immigration Authority has notified contractors that the government quota for direct hiring of foreign construction workers is fully exhausted. All applications, including those in progress, are frozen, threatening construction timelines.

The 'Olam HaKolnoa VeHaHashmal' chain is launching a parallel import line of Bosch appliances, offering the same quality and one-year warranty at significantly lower prices.

LinkedIn is shutting down its R&D center in Israel, resulting in the layoff of approximately 50 employees. The facility, established following the acquisition of Oribi, will cease most of its operations.

The Histadrut and the workers' committee are threatening to declare an official labor dispute at Assaf Harofeh Hospital, which will lead to severe disruptions in essential departments and surgical units due to a breakdown in negotiations with management.

The National Insurance Institute will lease 800 square meters and 30 parking spaces for a ten-year term. The deal is expected to generate approximately 11 million shekels for the Levinstein Group.

Amot has lowered its 2026 forecast due to a slowdown in office leasing caused by the war with Iran. Despite this, management reports a recovery in demand since the end of hostilities and expects improved operational metrics next year.

Max Stock has convened a shareholders' meeting to approve a 51% increase in the annual compensation of CEO and founder Ori Max to 7.77 million shekels. The move aims to incentivize continued value creation for the company and its shareholders.

Alongside a recommendation to remain exposed to the stock market, the bank emphasizes the importance of investment diversification and warns against over-concentration in the popular sector where most investors keep their money.

Investment bank Citi has issued a review of Bank Hapoalim's results, maintaining a "buy" recommendation with a target price of 88 shekels. Analysts estimate the bank will exceed its targets for the coming year, noting that excluding the special tax, the return on equity would have reached 16.4%.

The first 10,000 new applicants for the SuperFly credit card will be eligible for a free Israir flight ticket, provided they spend 10,000 shekels within four months. Existing Rami Levy customers will be automatically migrated to the new card, which offers points for flights and hotel stays. We analyze the terms and how it compares to existing market offerings.

Rami Levy, Israir, and Isracard are launching SuperFly: cardholders will accumulate dollars on every purchase to redeem on Israir flights and vacation packages, alongside unique launch benefits and savings at the Rami Levy chain.

The well-known supermarket chain is launching dozens of promotions across a variety of categories, including ice cream, food products, cleaning supplies, and personal care, until the end of August. All the details.

Naftali Bennett, chairman of the Beyachad party, has launched a fierce attack on the food giant Tnuva. He vowed to dismantle the company's monopolies and reduce food prices by at least 30%.

The men's fashion chain CANDID, which operates ten branches and employs over 100 staff, is launching an international campaign filmed in a prestigious location to establish its status as a leading premium brand.

The Aviv Group has appointed Itay Vaknin as its new CEO. He will receive a fixed monthly salary of 140,000 shekels plus annual bonuses of up to 1.12 million shekels. Dafna Harlev will step down as CEO to become co-chair of the board of directors.

Canadian sports brand Lululemon is now available on the Terminal X platform via parallel import. A price comparison reveals significant markups compared to international markets.

The flavor and fragrance manufacturer concluded the quarter with record revenue and profit, yet investors are wary of eroding operating margins. CEO Keren Cohen Hazon stated that the company has not yet fully realized synergies from recent acquisitions, which should improve operating profit in the coming quarters.

Rami Levy, Israir, and Isracard are launching a new credit card that allows earning dollars on every daily purchase in Israel and abroad, offering a special launch benefit to the first ten thousand customers.

Globes has learned that two new senior executives coming from fields outside the credit card industry will join the top management of CAL: Zoarit Yogev, who was deputy head of the mortgage division at Bank Leumi, and Tony Cohen, CEO of the Maccabident dental clinic chain.

Globes presents an index examining the volume of credit card purchases in Israel. Phoenix Gamma data shows a sharp spike in spending on family activities.

The American investment fund, which tried to take over football clubs and airlines, has turned to the bankruptcy court in the United States after years of debt, sales, and allegations of fraud.

Epitomee Medical, having lost 61% of its value over the past year, has appointed Dolev Rafaeli as CEO amidst a crisis. Rafaeli previously led a public company that collapsed, raising questions among investors about whether this is a strategic turnaround or a prelude to a sale.

Doral Energy is investing $738 million (approximately 2.2 billion shekels) into its US subsidiary, Doral LLC. This strategic move increases the parent company's stake from 26% to 53.2%.

The Histadrut and the AIG Israel workers' committee have declared a labor dispute over the implementation of an AI-based voice agent. Employees fear mass layoffs, as over 550 staff members could be replaced by the new technology.

Amot Investments has updated its annual forecast, maintaining levels comparable to 2025, and reports a recovery in the office market. CEO Shimon Abudraham highlighted rising demand, particularly in Tel Aviv's central business district.

A dramatic step by the Tel Aviv Stock Exchange to increase liquidity in corporate bonds leads to the joining of dozens of series and a prominent financial institution that will directly affect investors' pockets.

President Donald Trump's media company, Trump Media & Technology Group, reported a quarterly loss of 238.1 million dollars. The decline was primarily driven by losses in digital asset trading.

The Max Stock chain revealed its financial reports with a jump in revenue to 379 million shekels and presented its national expansion map, which includes closing a well-known branch and moving into new cities.

A massive fair that opened today in collaboration with the Ofer Malls group offers school supplies and leading brands at unprecedented outlet prices, alongside special gifts for shoppers at the complex.

The largest Israeli defense company reported a 38% jump in net profit, despite a sharp increase in tax payments. The key figure explaining sustained investor interest is the record order backlog, which secures the company's growth for years to come.

The company generated $2.29 billion in revenue and $199 million in profit in the second quarter of the year, beating analyst expectations. According to the company, 73% of its current order backlog comes from abroad.

The weakening of the dollar boosted Max Stock's profits in the second quarter. The discount store chain reported a 12.7% increase in sales to 379 million shekels and a 35.7% jump in net profit.

The bank's return on equity stood at 15%, a figure that would have been higher without the special tax imposed by the Ministry of Finance this year.