Israel's top stories
Teva targets up to $7 billion in revenue from innovative drugs
Teva unveiled new financial targets for 2030: revenue of $6 to $7 billion from innovative drugs, free cash flow of more than $3.5 billion, and the launch of one new drug each year. Seven advanced programs are in the development pipeline, with cumulative annual sales potential of more than $10 billion at peak.
Investors flee tech for bonds and defensive stocks after US inflation data
US inflation data for October came in above forecasts, and markets reacted with a sharp drop in technology stocks. Investors flocked to bonds and defensive stocks, and yields on government bonds moved back toward the 5% level.
The Tax Authority recommends imposing a tax on every aircraft departing Israel, based on its weight and flight distance, in order to reflect the environmental costs of flights. According to the proposal, the tax is expected to bring about NIS 1.1 billion per year into the state treasury and add about NIS 12 per passenger on a domestic flight, about NIS 58 on a flight to Europe and about NIS 274 on a flight to the US or East Asia, if approved.
Barzani Completes Major Share Offering: Bar and Barzani Brothers Enter Tel Aviv Stock Exchange at a Value of NIS 3.25 Billion
Infrastructure company Barzani has completed a share offering on the Tel Aviv Stock Exchange, raising about NIS 1 billion at a price of NIS 11.25 per share. Dayan Bar and Yossi Barzani will hold about 69% of the company after the offering.
Clal and Other Investors in Talks to Buy Stake in Ashtrom's Residential Rental Business
Clal Insurance is in talks to buy 20% of Ashtrom's residential rental business, alongside the deal with Migdal. Ashtrom Residential Rental holds more than 3,200 apartments across the country, and Ashtrom Group's shares have fallen about 22% since the beginning of the year.
The Bank of Israel has granted the British Revolut group a conditional license to establish "Revolut Bank Israel", the third bank to receive a license since 2019 and the first new bank in Israel in about four decades. The new bank will need to meet regulatory and technological requirements before it can begin operating.
Shai Shnitzer Elected President of the Diamond Exchange
Shai Shnitzer, 47, a third-generation diamond dealer, was elected president of the Diamond Exchange and will replace Nissim Zoarets. Shnitzer lost the previous election in 2021 and is taking office against the backdrop of the industry's crisis and the decline in diamond exports.
Azrieli Sues Holon Municipality for NIS 6.5 Million in Parking Lot Dispute
The Azrieli Group has filed a NIS 6.5 million lawsuit against the Holon Municipality, alleging extortion and abuse of authority over the parking lot of the Holon mall. The dispute erupted after the municipality demanded that the group pay usage fees for the parking lot, which has operated free of charge for almost 30 years.
Eyal Ravid seeks to acquire 30% of Carrefour in an offering and merge it with Victory
Victory CEO Eyal Ravid is asking the Competition Authority for permission to buy about 30% of the shares of the company that operates Carrefour, as part of an upcoming offering on the stock exchange. According to reports on the matter, the plan includes a full merger of the chains into a single chain with 210 branches, and the Movement for Quality Government has filed an objection to the request.
Mortgage volume since the start of the year jumps 14%, nearing the 2021 peak
Mortgages taken out since the start of the year reached NIS 97.5 billion, a jump of about 14% compared with the same period last year. In October alone, mortgages worth about NIS 9.2 to 9.3 billion were taken out.
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Despite the War, Israel's Economy Heads for a New Peak
Rating agency S&P raised its growth forecast for Israel to 5.5% in 2026 and to 7% in 2027, citing Nvidia's activity in Israel. Israel is expected to climb to 25th place in the ranking of the world's largest economies, with GDP of about $747 billion.
Singles' Day 2026: What to Check Before Buying on AliExpress
AliExpress Singles' Day deals are already in full swing, and the price shown on a product page is sometimes only the starting point of the calculation. Coupons, shipping costs, VAT and return terms can change the deal by tens of percent.
Government approves advancing construction of three natural gas power plants and two agro-photovoltaic facilities
The government approved advancing the construction of three power plants that will run on natural gas, in Palmachim Park, at Kibbutz Gan Shmuel and north of the Gevat wastewater treatment plant, as well as two agro-photovoltaic facilities. The power plants will be built by Powergen, Shamir Energy and Palmachim Park, and the solar facilities by Powergen and Nofar.
Alona Ariely Lahav Appointed Chief Innovation, Marketing and Sales Officer at Shikun & Binui Real Estate
Shikun & Binui Real Estate has appointed Alona Ariely Lahav as its Chief Innovation, Marketing and Sales Officer. Ariely Lahav will be responsible for the company's marketing and sales operations, innovation and customer experience, from the initial contact with buyers through to apartment handover and the warranty period.
Third Layoff Wave: Israeli Company to Cut About 20% of Its Workforce
Innoviz, a lidar sensor company based in Rosh HaAyin, announced layoffs of about 20% of its workforce, which may include more than 70 employees. This is the company's third layoff round in the past three years, and estimates put the total at about 90 employees.
Year-End Guide: Tax Benefits and Checks to Make Before December 31
The end of the tax year is approaching, and the benefits on deposits to pension funds, study funds and investment provident funds expire on December 31. It is recommended to check which benefits have already been used, and which can still be claimed before the year ends.
Leumi Partners Enters US Real Estate with $100 Million Investment in Harbor Group
Leumi Partners, the investment arm of Bank Leumi, will invest $100 million in the American real estate company Harbor Group, at a valuation of approximately $1.275 billion. The deal includes an option to increase the stake to 10%.
G City Publishes Preliminary Third-Quarter Results; Leverage Remains High
G City published preliminary results for the third quarter. NOI on a proportionate basis and excluding currency effects rose 21%, mainly due to the increased holding in Citycon, while consolidated NOI fell 9%. Leverage stands at about 67%.
HaMashbir Enters Home Appliances Market, Will Sell Refrigerators, Washing Machines and Ovens Online
HaMashbir chain will begin selling refrigerators, washing machines, ovens and televisions online, with free delivery to the home. Sales of the products in stores are planned later.
Tapaz Falls Despite Record Revenues; CEO Buys Shares
Tapaz reported record revenues of $94 million in the third quarter, but organic growth fell to just 2.4%, compared with 18.2% last year. The share price fell about 6% on the stock exchange following the results.
Recall of Fast Mobile Charger: Risk of Electric Shock and Fire
The Ministry of Economy announced a recall of a fast mobile charger, model 62-A2C2, sold by Target Home Household Items. The ministry calls on the public to stop using the product immediately due to the risk of electric shock and fire.
Norway Freezes Power Connections for Data Centers; Azrieli Says No Material Impact on Existing Operations
Norway's grid operator has frozen new power allocations for data centers until August 2027, in order to formulate a policy that will ensure grid stability. Azrieli, which operates in Norway through its subsidiary Green Mountain, said there is currently no material impact on existing operations and projects under construction.
After 20 years: first Israeli oil company in Venezuela?
New-Med partnership, controlled by Yitzhak Tshuva, signed an exclusivity agreement for negotiations to acquire 60% of a company holding producing oil fields and additional onshore and offshore rights in Venezuela, until the start of January 2027. In parallel, it is examining further investments in South America.
Taboola and Yahoo Trade Breach Accusations Over 30-Year Partnership Agreement
Taboola and Yahoo are in a business dispute over a 30-year partnership agreement signed four years ago. The two companies accuse each other of failing to meet their obligations, and the disagreement is currently in mediation.
Rafael expands at the Haifa Science Park with another lease worth about NIS 32 million
Rafael has signed a five-year agreement to lease two additional floors in Building B at the Science and Hi-Tech Park in Haifa, worth about NIS 32 million. The deal joins a lease of three floors worth about NIS 45 million signed in October 2025, bringing the total value of lease transactions in the complex to NIS 77 million.
Cybersecurity firm Daylight raises $80 million in Series B led by Goldman Sachs
Israeli cybersecurity company Daylight raised $80 million in a Series B round led by Goldman Sachs, bringing its total funding to $120 million. The company is developing a platform that combines AI agents with information security experts, and the round values it at approximately $400 million.
Suspicion of Money Laundering with Crypto Coins Worth About 16 Million Shekels; Five Arrested
Five suspects were arrested on suspicion of money laundering, providing financial services without a license and fraud by false pretenses, involving about 16 million shekels. The economic unit of Lahav 433 carried out the arrests.
Heirs of an Elderly Man Who Died Before the Sale Day in an Urban Renewal Project Will Not Automatically Qualify for Tax Benefits
The Tax Authority has published a position paper stating that eligibility for tax benefits for the elderly in urban renewal compounds is examined on the sale day, according to the identity of the parties on that date. Heirs of an elderly man who died before this day will not automatically be entitled to the benefits that would have been granted to him, and the tax exemption will be determined according to their individual eligibility.
Bank of Israel Considers Extending Restrictions on Contractor Financing Deals
A temporary directive limiting aggressive financing promotions on apartments is due to expire at the end of the year, and the Bank of Israel is conducting staff work on the matter. The bank has not yet made a decision on extending it or on additional steps.
Gilat Lowers Annual Revenue Forecast; Shares Fall
Satellite communications company Gilat is lowering its annual revenue forecast by about $45 million. Third-quarter revenue totaled $116.2 million, about $10 million below consensus, and the shares are plunging.
