Economy

Holmes Place signed a 20-year lease for a new fitness club at Eran Zahavi and Avi Arbib's ELEVEN CENTER in Mazkeret Batya, in a deal valued at 43.2 million NIS.

NewMed and Ratio Energies canceled a massive $6.7 billion gas supply deal with Dalia power stations due to expected antitrust hurdles, while Dalia strongly rejects the cancellation.

Israel's mortgage lending surges toward 120 billion shekels annually as borrowers rush to beat strict new Bank of Israel PTI caps and limits on parental loan backing.

Silicon Valley venture capital firm Lightspeed has launched a dedicated $250 million fund, 'Lightspeed India V', to aggressively target early-stage artificial intelligence startups in India and Southeast Asia.

Forbes weekly billionaire ranking shows Elon Musk losing 2.6 billion dollars while retaining the top spot, as Mark Zuckerberg surges back into the top five.

Family First CEO Jane Smith resigned days after posting an AI-generated family photo referencing the renaming of Lake Ontario to Lake America amid trade tensions.

Billionaire investor Bill Ackman criticized the Federal Reserve's rate hikes, arguing that soaring demand for AI and energy makes high rates inflationary.

Fox-Wiesel CEO Harel Wiesel revealed in a recent podcast interview that his best business decision was bringing global fashion brands to Israel in 2012, while admitting he refuses to spend money on designer clothes.

Migdal Insurance has dropped below a 5% stake in «Shufersal» after selling shares worth 125 million shekels. The move follows weak financial results and a 12% drop in the supermarket chain's stock over the past month.

Luxury fashion chain EMANUEL is closing two iconic branches at the Schuster Center and Renanim Mall after decades, turning the final days into a massive clearance outlet.

British security firm Specter reports over $4.3 million in crypto assets stolen across Ethereum, Tron, and Bitcoin networks following a suspected private key leak.

Ormat Technologies secured up to $35 million in funding from the U.S. Department of Energy to advance geothermal projects in Nevada and Utah, despite recent downward pressure on its stock.

A weekly review of Israel's top economic news covers James Chambers' extradition case, Arena Mall's 200-million-shekel overhaul, Mitromics' massive recall and value drop, and a major supermarket acquisition.

Fuel prices in Israel are expected to surge by about 40 agorot per liter next week due to rising oil prices and mounting geopolitical tensions with Iran.

Senior banking executives in Israel are increasingly leaving traditional financial institutions for lucrative positions in the non-bank sector, driven largely by executive pay caps and abundant market opportunities.

The TX crypto bridge lost almost all its XRP reserves in a bug exploit on August 9. Attackers drained 199,916.3 XRP without stealing private keys by exploiting a validation flaw.

Osher Ad retail chain has launched official Lego sales, offering four initial models at competitive prices compared to major Israeli competitors like Shufersal and KSP.

Osher Ad implements a smart wheel-locking system across 13 branches to prevent shopping carts from leaving designated parking zones, tackling thousands of annual thefts.

Turbogen reported its H1 2026 financial results, showing a narrowed net loss of $4.2 million alongside preparations for a Nasdaq listing and increased R&D investments.

UBS analysts report that Brent crude prices rose amid US-Iran talks and strong US economic data, recommending equity positioning alongside capital protection and alternative investments.

The Supreme Court ordered Eli Kahana to pay 75,000 NIS in costs over harsh legal language targeting a district judge, while ruling that a non-compete payment constitutes revenue income.

An analysis of Government Resolution 1432 reveals that while personal guidance and student support for new immigrants expanded, the critical housing mechanism heavily funded by the state remained unimplemented.

Amazon plans to invest 3 billion dollars by 2030 to expand its quick commerce operations in India, targeting a market expected to exceed 41 billion dollars despite strong local competition.

Avissaror real estate company appoints actor Yehuda Levi as its main brand ambassador amid a massive pipeline of over 10,000 planned residential units and recent stock exchange IPO.

Israeli retail chain Dynamica has appointed Yaron Kadosh as Deputy CEO. Kadosh, a veteran manager who joined the company in 2010, previously served as VP of Sales.

Melisron CEO Ofir Sarid is stepping down from his role on September 24, 2026, for medical reasons. CFO Oren Heilinger will serve as interim CEO during the search.

Aviation fees at Israeli airports are set to rise in 2027, driven by CPI updates and exchange rate fluctuations, which may lead to higher ticket prices for passengers.

Carrefour Israel will end its discounted 100-product basket initiative, causing prices to surge by 30% in 54 branches as the state-backed pilot concludes.

Phoenix Gamma raised approximately 500 million shekels in an institutional commercial paper tender, drawing strong demand of 963 million shekels from investors.

American burger chain Shake Shack will open its seventh Israeli branch in Kfar Saba this October, featuring local art and aiming for 15 locations nationwide by 2033.

Israel's influencer marketing industry generates up to 500 million shekels annually, driven by strategic content creation, e-commerce integration, and shifting platform dynamics.

Israeli high-tech firms navigate a shifting landscape between strict five-day office mandates and persistent employee demand for hybrid and remote work flexibility.

Similarweb appoints Michael Ackerman as its new CEO, succeeding co-founder Or Offer. Ackerman brings extensive data and tech industry experience to the New York-based role.

Israeli medical aesthetics company Sofwave received approval from China's NMPA to market its flagship skin-rejuvenation device, targeting a massive non-invasive procedures market.

Coffee giant Starbucks announced plans to close about 250 North American branches as part of a $300 million restructuring plan led by CEO Brian Niccol to stabilize profitability.

Ahead of Sukkot, Sukkah prices in Israel range widely from 680 NIS to 1,800 NIS. A market overview highlights deals, frame qualities, and essential consumer tips for holiday shoppers.

Tomer Mezon faces severe financial restatements wiping out its 2025 net profit following inventory inflation findings. Founder Doron Kimlav is being removed as chairman while trading remains suspended.

Zim workers' committee chairman Oren Caspi urged Israeli ministers to block the $4.2 billion sale of Zim to Hapag-Lloyd, citing severe risks to national security, operational continuity, and the company's independence.

Discount Capital is selling its stake in non-bank lender Melaran to controlling shareholder Moand Rian for 27 million NIS, taking a 6 million NIS loss.

Shufersal is offering premium Angus beef imports from South America for 99 NIS per kilogram ahead of Sukkot. The holiday promotion is valid across all retail channels until Friday.