Economy

A WeChat project manager was fired and blacklisted after a screenshot of his 3.17 million yuan compensation package was circulated on social media.

The state has cancelled a 1.3 billion shekel grant for Intel following the freeze on the expansion of its Kiryat Gat plant. The Ministry of Finance decided not to wait for progress, though it kept a separate grant scheduled for 2026.

A combination of a fateful Fed interest rate decision, a surge in oil prices, and financial reports puts investors before a new dilemma, as the market is no longer satisfied with promises and demands results on the bottom line.

The Ofer Malls group is launching a new back-to-school promotion, offering 8 school shirts with a logo for 99.90 NIS at Golf Kids. The offer is available via the MY OFER app at 12 malls nationwide.

The total cost of the war represents about 12%–15% of Israel's GDP, an exceptional economic burden. In contrast, American aid, while strategically vital, amounts to less than one-tenth of one percent of the annual US GDP.

The construction of the plant expansion in Kiryat Gat has been halted for two years due to company distress, leading to the cancellation of projects in Germany and Poland. Consequently, the Ministry of Finance's Budget Department has decided to cancel a 1.3 billion shekel grant.

Tel Aviv closed the week in the green, led by defense stocks, while Wall Street ended in the red as the 'Magnificent Seven' faced a sell-off. This week, investors are focused on the Fed's interest rate decision and earnings reports from major global and Israeli companies.

WorldCom Finance has received a payment services license from the Israel Securities Authority and simultaneously announced the completion of its acquisition of WeCard's operations. According to the company, there are currently only about 30 companies in Israel holding this type of license.

Amid a slowdown in the real estate market, the developer "Anshei Ha'ir" attracted buyers with a creative promotion: every client who purchased an apartment in their projects was entered into a raffle to win a second unit.

Online shopping offers a vast selection, but to truly save money, it is essential to account for hidden costs like shipping, customs, and currency conversion fees. Experts recommend verifying the final transaction cost before payment and using tools to maintain budget control.

Out of 11 billion shekels in mortgages, more than 10 billion are brand new loans. Apparently, a sign of a red-hot market, but the Treasury claims it is an illusion. The contractors' 80/20 deals are coming back like a boomerang, and the Treasury's data reveals what is really happening behind the scenes.

A national survey in Germany reveals that more than half of the public views digital tipping screens negatively. Over 20% of respondents admit to reducing their tips since the transition to digital terminals.

The Association of Public Companies opposes the intention to list the two defense companies on the US stock exchange. CEO Ilan Plato: "The public must be a partner in the success."

And also: what amount was paid for a 3-room apartment in Beersheba, how much was a 4-room apartment sold for in Shoham, and what was the price of a 5-room rooftop apartment in Holon? Second-hand deals.

Despite a slowdown in the Tel Aviv real estate market, the luxury segment remains resilient. Entrepreneur Raz Goldwasser, who is developing a boutique project in the Ravivim neighborhood, notes that unique locations allow for sustained pricing even during challenging times.

Anthropic, Databricks, and other glittering private companies are planning to go public, fueling investor dreams of quick wealth. However, history warns that buying shares at an IPO often leads to disappointment rather than joy.

A study by real estate appraiser Dr. Asaf Gastfreund reveals that since early 2023, second-hand housing prices in Quarter 3 have fallen by over 20%, with Quarter 4 seeing a decline of nearly 8%. In real terms, accounting for inflation, the erosion of value is even more significant.

The Competition Authority is set to approve the sale of credit card company CAL to Union and Harel. The deal, valued at 3.7 billion shekels, will proceed with soft conditions and restrictions on data sharing.

The battle for the acquisition of Wolt Market has entered its decisive stage. Four groups have submitted offers to purchase the retail chain, with the highest bid reaching approximately 300 million shekels.

Tomorrow, Ayalon will launch its provident fund activity, returning to the long-term savings sector four years after exiting it. The move follows the sale of its stake in Meitav Provident and Pension.

What seemed like an opportunity to buy an apartment in Jaffa at a price 300,000 shekels below market value turned into a headache and a loss-making investment. The Yaffa urban renewal project stalled and collapsed, and the chance for a high profit turned into a loss of hundreds of thousands of shekels.

A shell of a cottage with an area of about 290 sq. m, on a half-dunam plot in the moshav of Kfar Warburg, was sold for 4.1 million shekels. According to estimates, 2.2 million shekels must be invested to complete the construction.

Recently, there has been a growing wave of urban renewal projects "changing hands." Large, financially resilient companies are replacing smaller developers who have struggled to advance their projects. What does this mean for residents, and how can they protect their rights?

Zvi Stepak, founder of the Meitav investment house, managing nearly half a trillion shekels, shares his market outlook. He advocates for caution, diversification, and the ability to admit mistakes in a volatile financial landscape.

A father of minor daughters sent an urgent appeal to Super-Pharm, Be, and Good Pharm demanding that adult accessories displayed at children's eye level be concealed, while other consumers claim this is moral coercion.

The retail giant is launching promotions on personal care, cleaning supplies, and consumer goods, featuring 'second item for 1 or 5 shekels' deals. Some discounts are exclusive to Life Style credit card holders.

Nissim Zuaretz announced his resignation after two years in office, citing internal management conflicts. He has called for early, comprehensive elections to stabilize the institution.

The Osher Ad chain has begun selling modular bunk beds with a pull-out trundle for self-assembly. The base price for the frame is 999 shekels, with mattresses sold separately.

Diamond exports since the beginning of the year have plummeted to $2.4 billion, only a third of the volume recorded a decade ago. Diamond Exchange President Nissim Zuaretz, who announced his resignation, highlighted the industry's taxation struggles compared to the competitive advantages offered by Belgium and Dubai.

The Kuwait Oil Company (KOC) has signed a $16 billion lease and leaseback deal for its crude oil pipeline network with a consortium including Blackstone, Brookfield, and KKR. This marks the largest foreign direct investment in the country's history.

The dream of a garden and a private house is becoming increasingly elusive for Israelis. Recent transaction data reveals a significant jump in prices, alongside a surprising and much more affordable alternative within reach.

The Chinese memory chip company CXMT is reaching the largest IPO in Asia this year, but in a parallel market, it is already trading at a value almost five times higher than the IPO price. What is behind the huge gap, and why does this story also affect Israeli pension savings?

After ranking first in the world for financial assets and 18th in average wealth, a UBS report reveals another parameter where Israel stands out. What is this interesting index, and why is a high number here not necessarily good news?

The updated ranking reveals the wealth of Eyal Ofer, Miriam Adelson, and Idan Ofer, who continue to lead the list of billionaires in Israel, alongside the growth of the Federmann family's capital.

The digital currency market concludes a positive week with all major assets recording gains. Bitcoin and Ethereum lead the growth, followed by steady performances from Binance Coin and Ripple.

The leading digital currency is trading at $64,264.3 following a volatile week, while Ethereum and Ripple are showing notable gains. Below are the updated prices and market capitalizations for major cryptocurrencies.

The Higher Planning Council is expected to advance 763 new housing units, of which 673 are in Eli and 90 in Har Adar. With the completion of all plans approved in recent years, the settlement of Eli is expected to grow three times over and allow for the absorption of thousands of new residents.

Traders using automated systems are ready to pay for ultra-fast access to the president's posts. At least five companies have already signed up for the service.

Nofar Energy has confirmed advanced negotiations to acquire a 47.5% stake in the Reindeer power plant project. The deal to purchase shares from Phoenix and private investors is valued at 855 million shekels.

A conversation with Dr. Roi Cesana, a futurist and AI researcher at Tel Aviv University. We discuss which sectors will be most affected by the AI revolution, the alternatives, and the real possibility that we will prefer robots to humans.