Economy

The Corporations Authority issued over 22,000 warning letters to unregistered partnerships in Israel, threatening tax audits and sanctions over severe tax collection losses.

Teva Pharmaceutical shares reached a ten-decade high following FDA approval for WELTRUZA. The milestone underscores the company's successful turnaround under CEO Richard Francis.

Elon Musk has become the first person in history to surpass a net worth of $1 trillion, exceeding 3.1% of US GDP and outpacing historical figures like Rockefeller.

Axiag Consultants filed for insolvency against Nasdaq-listed HUB Security over a $100,000 debt, while a court upheld share attachments, threatening an $8.7 million asset sale.

Elco plans to invest at least 95 million shekels in Electra Real Estate's upcoming rights offering to restore investor confidence amid falling share values.

Arba Onot, part of the IBI group, announced Sunday the appointment of Yossi Alfasi as CEO of its wealth management division to expand services for premium and high-net-worth clients.

Walmart invests billions in warehouse automation to cut labor costs, yet faces technical hurdles, engineering expenses, and surging electricity bills.

Jafora-Tavori, Israel's second-largest beverage maker, has appointed Galit Mor-Meshorer as its new Chief Marketing Officer and management board member.

G-City has partnered with AGEERA to install energy storage systems across 10 Israeli properties, targeting cost savings on electricity expenses that reached 188 million shekels in 2025.

Similarweb announced the incoming CEO Michael Ackerman's $1.6 million cash and $10 million equity compensation package, as founder Or Ofer prepares to step down after 20 years.

Maya Dynamics terminates its strategic defense partnership with Elta, a subsidiary of Israel Aerospace Industries, amid deepening financial losses and sliding sales.

Apple's new CEO John Ternus is stepping up direct involvement in product design, visiting studios multiple times a week compared to Tim Cook's monthly visits.

Ayalon Insurance and Finance CEO Sharon Reich highlighted Israel's economic resilience during Calcalist's Investment Week, noting strong macroeconomic indicators despite ongoing multi-front conflicts.

Bank Leumi and investment house Aspire are launching a joint trust company specializing in employee equity plans and M&A escrow services. Leumi will hold a 51% stake and Aspire 49%, entering a market dominated by IBI Capital and Phoenix ESOP.

Kolmobil Energy and Temenet launched a 60 million euro energy storage facility in Silistra near the Romanian border, utilizing BYD batteries and EU grants to capitalize on Eastern European power price fluctuations.

Israeli food giant Tnuva is expanding into the wellness sector by launching HOLIS, a new line of microbiome-based dietary supplements available exclusively at Super-Pharm.

Tel Aviv Port is investing 20 million NIS to open a massive 2,500-square-meter sports and entertainment complex featuring bowling, padel courts, and a BBB culinary zone in April 2027.

Israeli fashion brand Delta is launching DELTA HOME, a new home textile and decor collection available in 38 stores nationwide and online, featuring items for babies, children, and adults.

The Israel Diamond Exchange and the Tax Authority signed a historic tax agreement for 2027-2028, aiming to restore Israel's global competitiveness against Antwerp and Dubai.

Leumi Partners and Discount Capital are negotiating a joint investment in the Adler Chomsky advertising group at a 500 million shekel valuation, acquiring a combined 30% stake.

Passengers from a harrowing Flydubai flight to Tel Aviv are organizing massive multi-million dollar lawsuits against the airline and the State of Israel following a mid-air hijacking attempt.

Babylon Park is investing 20 million NIS to open a 2,500-square-meter professional bowling and entertainment complex at the Tel Aviv Port by April 2027.

OpenWeb has filed for trustee appointment amid a NIS 60 million debt, exemplifying a broader crisis for ad-tech firms as AI engines drain traffic from traditional news sites.

A Lod court approved a class-action lawsuit against four major Israeli banks over unpaid current-account interest, exposing them to billions in potential damages and dividing legal experts.

Av-Gad and Barak Financials are nearing completion of a 49 million shekel partnership deal after receiving tax authority approval for urban renewal projects.

Arkia CEO Oz Berlovitch revealed that Cyprus is the airline's most profitable route due to low risk and high demand. In a recent interview, he also highlighted a doubling in business-class travel among Israelis.

Nvidia is reportedly in early talks to increase its investment in or fully acquire American AI startup Reflection AI, potentially exploring an acqui-hire arrangement to bypass heavy regulatory scrutiny.

AI data center builder Firmus has canceled what was set to be Australia's largest-ever IPO, citing market volatility and valuation concerns raised by institutional investors.

Syria's sovereign wealth fund, established by President Ahmed al-Sharaa, manages billions in confiscated assets and foreign deals. Despite driving economic reconstruction, it faces transparency concerns.

Pango CEO Yonatan Alon discusses the company's evolution from a parking app into a multi-service mobility super-app, detailing subscription models, travel tech, and future acquisition plans.

Teva announced US FDA approval for WELTRUZA, a once-monthly extended-release injectable treatment for adults with schizophrenia, boosting its shares in pre-market New York trading.

American health-focused restaurant chain True Food Kitchen filed for Chapter 11 bankruptcy, closing 12 unprofitable branches while securing $20 million in emergency DIP financing.

Delta Air Lines missed profit estimates and lowered its 2026 outlook due to high jet fuel costs, but CEO Ed Bastian reported robust consumer demand and rising ticket prices.

NBA star Shai Gilgeous-Alexander has joined Atlético Madrid's ownership group, becoming a partner of Israeli billionaire Idan Ofer in the Spanish club.

Bank Leumi CEO Hanan Friedman engaged with users on X to gather feedback, announcing upcoming crypto trading services and responding to customer complaints about fees and service.

Danish biogas leader Lundsby Renewable Solutions has filed for bankruptcy following heavy losses on a Finnish project, accumulating a 70 million crown deficit.

Carasso Motors' freesbe brand achieves a record-breaking launch for Chery in Austria, with 882 vehicles on the road since June 2026 and robust monthly growth.

Keystone Infrastructure Fund announced a quarterly dividend of NIS 25 million for shareholders, bringing total payouts since its IPO to approximately NIS 336 million.

Airtel Money launches its London Stock Exchange debut, raising 529 million pounds in the largest IPO in London since 2021, giving the fintech giant a 5.3 billion pound valuation.

Ferrero Israel launches the new Minecraft edition of Kinder Joy in supermarkets nationwide, combining iconic gaming characters with digital QR experiences.