Calcalist

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.

The collapse of local importers like Automax and sudden franchise transfers of Chinese EV brands have left Israeli car owners without spare parts or service. Experts urge buyers to verify manufacturer stability and local sales figures.

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.

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.

Carrefour Israel CEO Inbal Harson is expected to decline a six-month extension of the government-backed discount program. The 30% price cuts on 100 items led to a disappointing 7.6% drop in same-store sales during Q2.

A comprehensive mapping by the Israel Competition Authority reveals how major food suppliers like Tnuva and Coca-Cola exploit market dominance through illegal tying practices to keep prices high.

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%.

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.

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.

US CD sales revenue jumped 58% to $171.1 million in the first half of 2026, driven by Gen Z interest in physical media. Vinyl records still dominate the market, generating $554 million.

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.

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 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.

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 US labor market strengthened significantly in August, adding 162,000 non-farm jobs, well above economists' forecasts. The unemployment rate remained steady at 4.1%.

Managers of the Norwegian sovereign wealth fund, which manages assets worth $2.3 trillion, are proposing to reduce US government bond holdings by $80 billion. The move aims to diversify the fund's sources of returns.

An employee who worked at Shufersal for four decades was fired ten months before his retirement. The National Insurance Institute recognized his health issues following the dismissal notice as a work accident.

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.

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 dollar has fallen to 3.00 shekels, while the euro dropped to 3.49 shekels. Markets are awaiting US employment data, with forecasts of 55,000 new jobs and an unemployment rate of 4.1%.

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.

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.

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.

Paz is selling its entire 4.9% stake in the Ashdod Oil Refinery for approximately 75 million shekels. The sale is being conducted through the brokerage firm Leader amid a surge in trading volume.

A photographer has filed a lawsuit against the fashion house Comme il Faut over the unauthorized use of his photos in an AI-generated campaign. The plaintiff is seeking 100,000 shekels in damages.

The crisis at Tomer Mazon is deepening as the board meeting is postponed to September 17. Stock trading remains suspended amid accounting irregularities and high-profile resignations.

Nvidia has officially announced its intention to acquire the AI platform Hugging Face for $12.9 billion. The move represents the chipmaker's strategic shift beyond focusing solely on hardware.

Palo Alto has acquired the startup Console for an estimated $500 million, without disclosing the deal's value. It has emerged that Palo Alto CEO Nikesh Arora was among the startup's early investors.

Former basketball player and venture capitalist Omri Casspi has completed a $250 million raise for his third fund. The total volume of assets under management at Swish Ventures has reached $800 million.

Strauss, through its joint venture 3corações, has finalized the acquisition of Brazilian food producer Yoki. The final transaction value reached 642 million reals, 20% lower than the initial estimate.

Max Stock has signed a lease agreement for a new 45,000-square-meter logistics center in Ofakim with GT Holdings, a company co-owned by its CEO, Ori Max. The project, expected to be completed in 2028, involves an investment of approximately 20 million shekels.

Businessman David Galperin and investment manager Emil Goldfarb are launching the hedge fund Centenario Capital. The fund is starting with $20 million in investment commitments.

Concert ticket prices in Israel have risen by an average of about 8% over the past year. Despite an 18% drop in search volume due to rounds of fighting, audiences returned quickly to venues when events were held.

The dollar is strengthening in the local market, rising by 0.3% to trade at 3.03 shekels, contrary to the global trend of the American currency. Investors are awaiting the upcoming US employment report.

Aya New York revealed in its Q2 2026 financial statements that it had pledged future income from assets already serving as collateral for its bondholders.

Following a 100% jump in the stock since the beginning of the year, investors developed impossible expectations for Palo Alto. The world's largest cybersecurity company published excellent financial reports.

The shipping sector is attracting long-term investors against the backdrop of the crisis in the Middle East, which is raising the potential for high returns on vessel prices and shipping rates.

Israel's 2026 revenues are deceptive. Despite strong tax collection, Tax Authority Director Shay Aharonovich warns of significant fiscal challenges ahead in 2027–2028.

In August 2026, the volume of assets in overseas stock funds reached parity with Israeli funds, totaling 167 billion shekels in each category, marking a significant shift in investor preferences.

The state will provide direct support to the dairy sector for the first time to lower prices for goat and sheep cheeses. The agreement between the Ministry of Finance and farmers includes 24 million NIS in annual subsidies.