Calcalist

The Capital Markets Authority has published a draft circular defining strict criteria for virtual currencies offered by Israeli crypto firms. The move aims to mitigate risks and institutionalize the local digital asset market.

A slight rise is recorded in the local foreign exchange market, with the dollar strengthening by 0.1% to 3.062 shekels. Investors are awaiting the Federal Reserve's interest rate decision, due tomorrow.

Avi Hasson, former head of the Israel Innovation Authority, proposes a 'Pay for Success' model for the public sector. He argues that the current incentive system focuses on processes rather than real impact.

Following the decline in chip stocks on the Tel Aviv Stock Exchange, the negative trend has continued in Asia. Investors are monitoring the plunge in Samsung and SK Hynix shares amid growing concerns over AI investments.

The KOSPI index on the Seoul Stock Exchange is plunging by 9.8%, Nikkei in Tokyo is falling by 4%, and Asian markets are seeing a sharp sell-off in AI-related chip stocks following a negative trend on Wall Street.

The American investment fund Affinity Partners, led by Jared Kushner, has sold 2.5% of Phoenix Finance shares to two international institutional investors for approximately 1 billion shekels. Following the transaction, the fund's stake in the company will decrease from 9.9% to 7.4%.

The Phoenix investment house, through its KSM ETF brand, has launched a new fund tracking American software stocks. Despite the sector's decline due to AI-related fears, experts see this as a potential investment opportunity.

This month, Delek Group distributed to its shareholders, as a dividend in kind, the shares of its subsidiary (100%) Delek Yezum. The only asset of Delek Yezum is the right to receive overriding royalties from the revenues of NewMed Energy from the Leviathan reservoir.

Israeli consumers face rising chicken prices as the Chief Rabbinate delays import approvals. Despite efforts by the meat company Baladi and Supreme Court intervention, the process remains stalled.

Doral's market value has increased sixfold since Yoni Hantzis took office as CEO. The company is now proposing to increase his annual compensation package by 78%, to 7.4 million shekels.

German luxury car manufacturer Porsche announced it will cut 5,000 jobs by 2035 as part of a new efficiency package. This represents approximately 12% of the company's total workforce.

The stalled legislation regarding clearing payments between Israeli and Palestinian banks is not an economic issue, but a strategic security one. By blocking this decision, Finance Minister Bezalel Smotrich is shifting the risks of terror financing onto Israel's private banking sector.

Out of six candidates, only the insurance company Ayalon submitted a bid to operate the long-term care insurance for Clalit Health Services. This is a surprising outcome for a tender covering approximately 2.7 million insured individuals.

The Knesset has approved an amendment to the Annual Leave Law, allowing employees to use a 'choice day' to attend a memorial service for a first-degree relative who passed away under civilian circumstances.

Big has completed the sale of its 80% stake in the Legends at Sparks Marina shopping center in Nevada for $82 million. Following this transaction, the company retains only one remaining property in the US, which it also intends to divest.

Mass layoffs in Israel's high-tech sector, driven by AI integration and economic instability, are shattering the 'psychological contract' between employees and the industry, leading to a deep identity crisis.

The veteran pharmaceutical company Trima, founded 85 years ago, is shutting down its production operations. The company had been reporting annual losses of 10-20 million shekels.

Ofer Yanai, controlling shareholder of Nofar Energy, is set to increase the company's stake in Ellomay Capital from 46% to 71%. The deal is valued at approximately 250 million shekels.

Trading in Tel Aviv opened with mixed results as dual-listed chip stocks declined due to arbitrage gaps, while the financial and real estate sectors traded higher amid global market optimism.

At the start of the week, amid expectations for the Fed's interest rate decision, the dollar is retreating in both global and local markets. The dollar is down 0.2% against the shekel, trading below 3.05.

Real estate investment fund Marathon is finalizing a 750 million shekel raise for its second investment fund. Originally targeting 600 million shekels, the fund increased the amount due to strong investor demand.

Mega Or has purchased a 15.6-dunam plot from Schnapp's subsidiary, Keslev, for 95 million shekels. The acquisition will expand the company's planned large-scale data center campus in Hadera.

Oil prices fell sharply after Iran announced a suspension of attacks, provided the US maintains a cessation of hostilities. Meanwhile, investors are bracing for the Fed's interest rate decision and a busy week of earnings reports.

The strengthening of the shekel has made travel cheaper, but choosing the right payment method is crucial to avoid hidden fees. Understanding the difference between bank accounts, currency wallets, and credit cards can save families thousands of shekels.

The collaboration between Israeli insurance companies and global asset management giants like BlackRock, Fidelity, and State Street has faced headwinds. Assets in these savings policies have dropped from a peak of 4 billion shekels to less than 1.2 billion.

The Ackerstein Group is acquiring an 85% controlling interest in EcoWall from the Tidhar Group and other shareholders. The deal is valued at 47 million shekels, with EcoWall's total valuation at 55 million shekels.

Online fashion giant Shein has published a draft prospectus for its Hong Kong IPO. Financial results reveal a decline in profitability following the US cancellation of customs duty exemptions on low-value shipments.

The shekel's exchange rate reflects Israel's national resilience, combining geopolitics, security, and technological power. However, rapid currency appreciation poses strategic risks to export profitability and the innovation base.

Investors have increased bets that the Federal Reserve will raise interest rates by 0.25% at its upcoming meeting. The probability has risen to 38% amid surging oil prices due to the escalation of the Iranian war.

Logistics giants UPS and FedEx are investing millions in refrigerated facility upgrades to accommodate the transport of weight-loss drugs like Wegovy and Ozempic.

The owner of the Jerusalem sabich stand "Ha-Sabichiya shel Yigal" is challenging a Tax Authority demand for 132,000 NIS in additional VAT. The dispute focuses on waste rates and production losses.

Israeli gaming company Papaya Gaming announced a strategic move to lay off approximately 30 employees. The company currently employs about 400 people.

The Israeli government has approved a ban on the import of goods produced by forced labor. This move is an attempt to prevent new US tariffs of 12.5% on Israeli exports.

Andre Tabakoff has been appointed as the capital markets editor of Calcalist. He brings over two decades of senior editorial experience in the Israeli economic press to the role.

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.

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.

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.

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.

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.

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.