Economy

Following the passing of Shmuel Harlap, Colmobil's board of directors approved the appointment of his son, Asaf Harlap, as chairman of Israel's largest vehicle importer holding a 19.5% market share.

Israel's leading alcohol importer Global Wine & Spirits has fully acquired Zman Amiti, the country's oldest and largest training school for professional bartenders.

Australian construction giant Bathele has collapsed, leaving 45 active sites in Sydney unfinished and over $3.4 billion in debt. Liquidators from Teneo confirmed the company has run out of cash to fund ongoing projects.

The board of Colmobil, Israel's largest auto importer, has approved the appointment of Asaf Harlap as group chairman. He succeeds his father, Dr. Shmuel Harlap, who passed away last month.

Shikun & Binui controlling shareholder Nati Saidoff sold a 4% stake for NIS 450 million, retaining 30.78% ownership. The stock rose 2.6% following the announcement, despite a decline in Q2 gross profit.

The board of Colmobil, Israel's leading automotive group, has approved the appointment of Asaf Harlap as chairman. He succeeds his late father, Dr. Shmuel Harlap, who passed away last month.

Zohar Levy's Summit acquired a 4.9% stake in Ashdod Refinery from Paz for 75 million NIS, raising its total holding to 16.9% and challenging Shapir's control ambitions.

Nvidia reported Q2 revenue of $96.2 billion, up 106% year-on-year. Driven by massive AI infrastructure demand, the company expects annual revenue to reach $400 billion despite rising memory chip costs.

Fitness giant Peloton is hit by a double crisis as a former Jewish executive sues for wrongful termination over discrimination complaints, while Jewish subscribers protest anti-Israel social media posts by star instructors.

Israel's largest HMO Clalit exercises its right of first refusal to acquire a 10% stake in Herzliya Medical Center, blocking Wiz founders from entering and raising its ownership to 50%.

The Ministry of Agriculture and the Wine Grape Board reported 1,091,788 new grapevine plantings in 2025, marking an 8% increase. Cabernet Sauvignon remains the top choice, accounting for 20% of all plantings.

Rich Dad Poor Dad author Robert Kiyosaki addressed reports of his 1.2 billion dollar debt. His business partner Kim Kiyosaki clarified that the liabilities are tied to joint real estate investments rather than personal debt.

The updated Forbes billionaire ranking shows Eyal Ofer retaining the top spot with $35.4 billion. Meanwhile, the Federman family suffered a $600 million drop in their net worth.

Argentine President Javier Milei announced sanctions against companies extracting oil near the Falkland Islands. The list of 45 entities includes Israel's Navitas Petroleum and its major institutional shareholders.

The Seattle Times and Newsday have filed a lawsuit against OpenAI and Microsoft in a New York federal court. The publishers accuse the tech giants of using copyrighted articles to train AI models without permission.

In a dramatic turn for Maccabi Tel Aviv BC ownership, Shimon Mizrahi withdrew his decision to sell shares to Jason Levin. Mizrahi now aims to block Richard Dietz by exercising his right of first refusal to reach a 40.5% stake.

FC Barcelona is set to sign a 25-year sponsorship agreement with UAE-based luxury real estate developer Ohana. The deal will yield $10 million per season during the first three years, with the brand appearing on the team's shirts.

AI giant Anthropic plans to market its historic IPO in mid-October and complete its public listing just days before the US midterm elections on November 3. The developer of Claude is seeking a valuation of up to $2 trillion.

In Ezra Unger's entanglement with New York authorities, the mess in a Williamsburg real estate project was revealed, including millions in advances taken from buyers, ownership disputes, and loss of control over the building. Alongside an affidavit in which he claims he cannot pay the fine, it is alleged that in the Arkia deal, too, he is 'merely a broker who brings no money from home'.

The gap between the American who became the main owner of Maccabi Tel Aviv and the Israeli businessman is vast, despite the financial backing from the Recanati family. How will this affect the club?

Apple is preparing for the largest product launch wave in its history. The September 9 event will be the first major launch under new CEO John Ternus, signaling a significant transformation across all product lines.

The champion and cup holder has gone through another drama, as Richard Deitz announced the exercise of his right of first refusal on the sale deal to Jason Levien. What is behind this decision? What made him angry at the other owners? And how can the legendary chairman turn things around? Ynet sorts it out.

The Chinese AI startup Moonshot has filed a confidential prospectus for an IPO on the Hong Kong Stock Exchange. The company plans to raise $3 billion in the offering.

Since Asaf Rappaport's arrival, despite management changes and strategic shifts, ratings remain stagnant. Following the poor performance of the flagship show 'The Voice', Reshet 13 management issued a stern warning to staff: 'Whoever does not sweat will not be here.'

Richard Deitz, who previously held 17.5% of the club, announced he is exercising his right of first refusal, which will increase his stake to 55.5% or potentially 62%. "Maccabi is much more than a sports club or a financial asset," he stated.

Israel Aerospace Industries (IAI) has successfully completed the maiden flight of an Airbus A330-300 converted from a passenger plane to a freighter. This milestone marks the expansion of IAI's conversion operations into wide-body Airbus aircraft.

The company announced the extension of its sponsorship agreement with the "Otef Darom" basketball club from the National League. Omri Lotan, CEO of Nirlat: "For us, this is a meaningful connection that goes far beyond sports sponsorship."

Maof Group is entering the field of community medicine, one of the fastest-growing sectors in the world, which serves as a solution to the problem of overcrowding in emergency rooms and hospitalization wards. A few years ago, Bank Leumi acquired 20% of Maof's shares.

The SK Group, owned by the Israeli businessman, is increasing its investment in the Greek company ELVO to over 60 million euros. The company plans to transform its Thessaloniki plant into a hub for defense system development, following the 3 billion euro "Achilles Shield" deal between Israel and Greece.

Migdal Insurance is acquiring a 50% stake in three major residential projects from the Prashkovsky company for 700 million shekels. The deal encompasses 800 housing units intended for rental.

Israeli high-tech records another exit and a successful startup is sold for a billion dollars, Tim Cook leaves a different Apple to John Ternus, and the Bank of Israel has decided the fate of your mortgages for the near future | News of the week on ice

Volkswagen has unveiled a major efficiency plan involving mass layoffs and factory closures. The company aims to streamline its model range and optimize production amid declining sales in China.

The tech giant is in trouble in London following an unprecedented class-action lawsuit claiming the company used its power in the iPhone to crush competition in the digital advertising market.

Prashkovsky has signed a strategic agreement with Migdal Insurance and Finance to sell half of its rights in three long-term rental housing projects. The projects, which include about 800 housing units, will yield a profit of about 111 million shekels for Prashkovsky.

The Volkswagen board has approved a restructuring plan involving approximately 50,000 potential layoffs. German reports indicate that the group intends to fully phase out the Seat brand by 2029, with Cupra taking its place.

Thousands of families dependent on the Rotem Amfert plant fear layoffs due to delays in approving the use of Pond 4. Lobby 99 accuses the company's management of exploiting workers' anxiety to secure environmental concessions, while experts warn of pollution risks and the broader environmental costs of mining.

The Chinese company Qiaodan, featuring a logo and name strikingly similar to Michael Jordan's brand, continues to pose a significant challenge to Nike in China. Nike's sales in the country plummeted by 17% in the last quarter.

Less than a year after his release from prison, the former owner of a New York insurance agency has filed for bankruptcy. Among the creditors are defrauded insurance companies, tax authorities, and banks.

The Volkswagen supervisory board has unanimously approved a comprehensive efficiency plan that could lead to the reduction of approximately 50,000 jobs. The move aims to bolster the group's competitiveness.

Ahead of Breast Cancer Awareness Month, the "Pesek Zman" bar returns for the fourth consecutive year in special packaging as part of a collaboration with the "One in Nine" association. The packaging features a QR code leading to information on early detection and a personal risk assessment questionnaire.