A group led by Milgam and Pheonix Insurance won the bid to buy out the now privatized Israel Postal Company, according to Calcalist.
The group beat out bids by other companies including Rami Levi, and will now take on the company's debt of 440 million NIS and its fixed labor agreements. Calcalist does note that the service has begun to turn a profit thanks to the work of CEO David Leron and Chairman Mishael Vaknin.
Israel's economy, Wartime
Israel’s economy is under severe strain as the ongoing conflict with Hamas extends into its 11th month. The protracted fighting has led to a halt in tourism, closure of small businesses, disruptions in shipping, and an increased national deficit. Key areas such as Jerusalem’s Old City and Haifa’s flea market are experiencing significant downturns, with many businesses failing and luxury hotels running at half capacity.
Histadrut, Work-life balance
This historic change aims to improve the work-life balance for hundreds of thousands of Israelis.
Iran, Economy
Iran International reports that Iranian checks are bouncing at levels not seen since the COVID-19 crisis.
Economy, Cost of Living
An Israel Central Bureau of Statistics Survey shows plenty of economic struggle but also reason for optimism.
Israel-Gaza War, United Kingdom
The major bank had originally planned to shun a sale of Israel bonds under pressure from activists, but ultimately changed its mind.
Israel-Gaza War, Credit Rating
War-driven fiscal challenges and geopolitical tensions prompt Fitch to lower Israel's rating, signaling potential economic hurdles ahead.
Ministry of Finance
In response to delays in the 2025 budget approval process, Israel's Ministry of Finance has quietly developed a contingency plan to address potential fiscal challenges.
Iran, Hezbollah, Economy
Less sunscreen, more diapers: Israelis are stocking up as Iran continues to rattle its saber and prepare its missiles.
Iranian Stock Market, Economic Chaos
With public outrage boiling over, traders in Tehran turn off their systems in protest against economic mismanagement.
Politics, United States, Economy
With stock markets around the world dropping sharply, Republican nominee Donald Trump posted on TruthSocial claiming vindication when he warned this would happen under the Biden administration.
Economy, Consumers
These companies top the Globes list of Israel's top 100 brands in 2024.
Israeli Arabs, Economy
The increase in income comes thanks to a number of factors, especially the doubling of the number of Israeli Arab women in the workforce.