Economy

Bituach Yashir is offering a 200 shekels gift card to customers joining comprehensive car insurance via AI engines like ChatGPT and Gemini, following a successful Q2 2026 with 117 million shekels in profit.

The Tex-Mex chain Rapidos, part of the BBB Group, opened its first Eilat branch with a 1 million NIS investment, expanding its nationwide footprint to 7 locations.

The labor dispute at AIG Israel escalated as the service department joined a full strike, halting all company operations amid a deadlock in collective agreement negotiations.

Israeli entrepreneur Liran Weitzman sold a stake in his Sircle hotel management company to India's PRISM for 150 million euro, valuing his European operations at up to 300 million euro.

Yohananoff supermarket chain launches an unprecedented promotion, offering children's bicycles for just 199 shekels ahead of the Tishrei holidays alongside introducing smart shopping carts.

US President Donald Trump's childhood home in Queens, New York, has been sold for $1.93 million following extensive renovations by its previous buyer.

Asian markets opened the week mixed as semiconductor stocks plunged following AI leaders' calls to slow development. Meanwhile, oil prices surged after Saudi pipeline disruptions.

A hacker exploited a vulnerability in the Symbiosis bitcoin bridge to mint $46.1 billion in syBTC tokens without backing. Market liquidity limited the actual damage to just $336,000.

The share of unemployed academics in Israel surged 46% to 20.5% in August 2026, driven by tech sector softening and seasonal educational layoffs, reflecting a broader weakening of high-skilled labor.

A review of US-exposed mutual funds in Israel reveals that over three years, almost none beat the S&P 500, echoing global data showing high active fund underperformance.

Houthi control of Yemen's western coast and attacks on Saudi energy infrastructure are compounding global oil market strains. With the Hormuz strait restricted and the East-West pipeline damaged, spare capacity is choked by severe export bottlenecks and surging diesel prices.

The deal to sell credit card company CAL is on the verge of collapse after the Israel Competition Authority and the buyers failed to reach a regulatory agreement regarding potential conflicts of interest involving Super-Pharm.

The National Insurance Institute of Israel announced adjusted payment schedules for benefits and grants in September 2026 due to the holidays, with average payments rising to 5,280 shekels.

Apollo Global Management is in advanced talks to acquire Johnson & Johnson's orthopedics division in a mega-deal potentially exceeding $20 billion.

Israeli fashion chain Urbanica reports a 70% surge in Q2 2026 net profit to 30.6 million shekels alongside aggressive low-price promotions.

Israel's housing market grew by nearly 13% from May to July, led by a surprising 22% surge in apartment sales in Tel Aviv and strong activity across peripheral cities.

Israel plans to introduce mandatory landlord reporting and long-term lease incentives to regulate the 50 billion NIS rental market, aiming to curb soaring prices and stabilize contracts for 2.5 million tenants.

The Osher Ad chain launches holiday promotions for Sukkot, offering foldable Sukkahs, bamboo roofing, and synthetic grass starting at 59.90 NIS to help families reduce holiday expenses.

US President Donald Trump announced plans to remove a 15% tariff on Irish whiskey following appeals during a golf tournament in Ireland, boosting spirits producers and US companies.

US President Donald Trump pressured the Federal Reserve ahead of its rate decision, arguing the US must have the lowest interest rates globally despite rising inflation.

Intensive infrastructure work for the planned ultra-Orthodox city of Plugot near Kiryat Gat has been documented continuing through the Sabbath, sparking controversy.

The digital currency market closed the week with a negative trend. Bitcoin dropped 5.05% to $76,923, while Ripple plunged 7.45% and Ethereum declined 2.45%.

Elon Musk maintains a massive lead as the world's richest person with $913.1 billion, while Michael Dell overtakes Sergey Brin for fourth place amid market volatility.

Bank of Israel Governor Amir Yaron used his personal credibility to convince banks to maintain ties with the Palestinian Authority until 2027, averting an immediate diplomatic crisis caused by government inaction.

Altshuler Shaham Finance founders are advancing a 1 billion NIS deal to sell their controlling stake at a 1.8 billion NIS valuation, with CEO Yair Levinstein joining as a minority partner.

Nike faces a severe financial and cultural slump, with its market cap dropping by over $200 billion. Amid rising competition from brands like On Cloud and Adidas, new CEO Elliott Hill aims to restore the sportswear giant's roots.

Tesla has reclaimed over half of the US electric vehicle market, holding a 52% share in August 2026 as legacy automakers pull back from battery-powered vehicle production amid an industry-wide slowdown.

British fintech Revolut confirmed a data breach exposing sensitive customer information after falling victim to a phishing scheme using a fake government email domain. The company is preparing for its upcoming entry into the Israeli banking market.

Global FX speculators shift to a net long position on the Japanese yen for the first time since February, driven by expected BoJ rate hikes and rising bond yields.