Category: NIS
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Tel Aviv Port penthouse sold for NIS 36m
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A 243-square-meter penthouse apartment in the Hagag Group’s (TASE: HGG) Port TLV Residence project was sold for NIS 36 million. This is a new project that is set to occupy a long and complex history. Port TLV Residence is built on five privately owned plots of 2.5 dunams (2,500 square…
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Jerusalem Germany Colony house sold for NIS 32m
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The Templar House in the German Colony in Jerusalem, which was intended to be preserved, was sold for NIS 32 million. The house, located at the corner of Yitzhak Karmia Street and Yohanan Smuts Street, was purchased by a family that immigrated to Israel from the United States 10 years…
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Treasury: Every 1,000 haredi soldiers saves NIS 1.3b annually
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During discussions of the Knesset Foreign Affairs and Defense Committee, the Finance Ministry presented its estimates of the increased defense costs in the wake of the war and the potential benefits of recruiting Haredi soldiers. Among other things, the Finance Ministry says that extending compulsory military service and reserve service…
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Eyal Waldman buys Sde Dov apartments for NIS 50m
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Israeli businessman Eyal Waldman has purchased several apartments in the Israeli-Canadian Rainbow project in Sde Dov, north of Tel Aviv, a source close to the deal told Globes. Waldman bought an entire floor on one of the top floors of a planned tower for NIS 50 million. Globes also learned…
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Israel’s Defense Ministry spending NIS 30b on local procurement
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Since the start of the war in October, the Israeli Ministry of Defense has spent NIS 30 billion, including value-added tax, on domestic purchases, according to information from the Defense Ministry’s Production and Procurement Department, seen by Globes. More than half of this amount was spent on defense equipment, ammunition…
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Sutskever’s AI co seen offering NIS 60,000 monthly starting pay
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Last week, Ilya Sutskever, OpenAI’s co-founder and former chief scientist, unveiled his new startup, set to be called SSI that, like OpenAI, will develop artificial intelligence technology. In a post on the They used the phrase “supreme artistic talent,” but did not provide more details than that. This immediately set…
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Opposition fails to prevent transfer of NIS 874m to 2024 budget
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Today, the Knesset Finance Committee approved the transfer of a budget surplus of NIS 874 billion from 2023 to 2024. The discussions were marked by a bitter dispute between Knesset members from the coalition and the opposition, over the transfer of NIS 500 million of coalition funds in the midst…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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Israel Canada buys prime Tel Aviv site for NIS 443m
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A 45-storey tower will be built on the site between Dubnov Street and Leonardo da Vinci Street, which is currently used as a car park. The parking lot located at 4-6 Dubnov Street in central Tel Aviv, between Dubnov Street and Leonardo da Vinci Street, was sold at an Israel…
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Mizrahi Tefahot posts NIS 1.27b profit, declares maximum dividend
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Mizrahi-Tefahot Bank released its first-quarter financials today, reporting a net profit of NIS 1.27 billion, 6.9% less than in the corresponding quarter of 2023, but 21% more than in the previous quarter, which was an unusually bad quarter. For all banks after the outbreak of war. The bank’s annual return…
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NIS 7b wiped off Maytronics’ value since 2021
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Members of Kibbutz Jezreel in northern Israel must have pulled out their hair when they saw the stock price of pool-cleaning robot maker Maytronics (TASE: MTRN) fall nearly 30% in a single day following the release of disappointing first-quarter financials. The stock price collapse wiped out about NIS 1 billion…
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Central Tel Aviv lot fetches NIS 644m
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Acro Real Estate (TASE: ACRO) and Kata Group won the Israel Lands Authority auction for the Israel Military Industries (IMI) plot of land on Hashalom Street in central Tel Aviv with a bid of NIS 644 million plus NIS 67 million. Development costs. This amount is five times the minimum…
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Imco signs NIS 377m IDF armored corps deal
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Israeli Defense Electronics Solutions Company AIMCO INDUSTRIES The Israeli Ministry of Defense today announced a multi-year framework agreement worth NIS 377 million, under which Emco will manufacture and supply electrical systems and subsystems, including advanced video management systems, voltage management systems and instruments, for the IDF’s armored combat vehicles –…
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Average monthly wage in Israel exceeds NIS 14,000
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Preliminary figures for March 2024 show that the average monthly wage reached NIS 14,108, an increase of 3.5% from March 2023, according to Central Bureau of Statistics reports. Preliminary figures for March 2024 show that the average monthly wage reached NIS 14,108, an increase of 3.5% from March 2023, according…