Economy

Calcalist: Milgam and Pheonix acquire Israel Postal Company, completing privatization process

The winners of the bid for the privatized company will take on its 440 million NIS of debt and fixed labor agreements.

Israeli postal office. (Photo: Apustus/Shutterstock)

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.

0 Comments

Do not send comments that include inflammatory words, defamation, and content that exceeds the limit of good taste.

England, Taylor Swift, Inflation

The Taylor Swift effect: How pop sensation's latest British tour impacted inflation 

Unfortunately, the Swift Effect is only temporary and has succeeded in exposing Britain's deeper inflation woes.

Gila Isaacson | 18.07.24

Economy, Consumers

Globes: Israelis love WhatsApp, Bamba, and Waze

These companies top the Globes list of Israel's top 100 brands in 2024.

Avi Woolf | 11.07.24

Israeli Arabs, Economy

Globes: Israeli Arab incomes increase faster than Jewish incomes in last decade

The increase in income comes thanks to a number of factors, especially the doubling of the number of Israeli Arab women in the workforce.

Avi Woolf | 09.07.24

High Tech, Layoffs, eBay

eBay to slash jobs in Israel amid global restructuring

This is the third time eBay has laid off employees in Israel. The last round saw around 30 employees lose their jobs.

Avi Nachmani | 26.06.24

Israeli Economy

Wealthy migrants depart Israel in wake of war

The Henley Private Wealth Migration report indicates that, for the first time in many years, more wealthy migrants are departing Israel than arriving.

Avi Nachmani | 19.06.24

Israel-Gaza War, Economy

Globes: Most retail sectors experience rise in May sales compared to previous year

The food, cafes, and computer sectors experienced an increase of 14% compared to the previous May.

Avi Woolf | 06.06.24

Economy

Ynet: 7/11 fails to break into Israeli local market, calls it quits

The American convenience store giant operated in Israel for a year and a half via a franchisee, Electra, but has now decided to close up shop.

Avi Woolf | 29.05.24

Israel-Gaza War, Economy

Calcalist: Israel experiences partial recovery in first quarter of 2024

After a sharp decline in annually calculated GDP in the last quarter of 2023 (23%), economic activity bounced back and increased by 14% the following quarter.

Avi Woolf | 16.05.24

Israel-Gaza War, Economy

Globes: Consumption up almost everywhere, including in north and south

Despite inflation and displacement, Israeli local consumption is rebounding - with some caveats.

Avi Woolf | 09.04.24

Economy, Sports Illustrated

Israeli company Minute Media acquires rights to Sports Illustrated

Minute Media Founder and CEO: "Sports Illustrated is the gold standard for sports media for 70 years."

Avi Woolf | 18.03.24

Local Elections, Economy

Spending more, voting less? Credit card purchases 12% higher this election

Israel Hayom reports that credit card expenses today have risen to over 928 million NIS by 17:00, while voting rates remain about 20% below the previous round of local elections.

Avi Woolf | 27.02.24

Israel-Gaza War, E-Commerce

Globes: Israelis are back to buying online - especially from China and supermarkets

An analysis by Globes shows that after a significant drop at the beginning of the war, Israelis are back to ordering online.

Avi Woolf | 19.02.24