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  1. [verwijderd] 25 juli 2008 09:44
    Shekel crosses 3.5/$
    Finotec: If the Israel-US interest rate gap narrows, the shekel will come under more selling pressure.
    Sharon Baider 24 Jul 08 11:19
    The shekel-dollar exchange rate broke through the NIS 3.50/$ level this morning for the first time in three months, rising by 0.8%. The shekel-euro rate also rose this morning, but by less.
    Foreign currency trading is taking place against expectations about next Monday's announcement by the Bank of Israel on the interest rate for August. Market sources believe that Governor of the Bank of Israel Stanley Fischer will leave the interest rate unchanged, given that the Consumer Price Index (CPI) rose by just 0.1% in June.

    In the US, the prevailing belief on Wall Street is that US Federal Reserve Chairman Ben Bernanke will have to raise the interest rate as inflation in the US continues to spiral. The narrowing gap interest rate gap between the shekel and dollar has bolstered the greenback. The dollar also continued to strengthen against leading currencies yesterday.

    Another factor strengthening the dollar against the shekel is the increase by the Bank of Israel of its daily foreign currency purchases to $100 million from $25 million. The central bank's intervention is designed to strengthen the dollar against the shekel. The move has led to a change in positions by foreign currency traders, who now prefer the dollar over the shekel.

    At the same time, the $25 billion rescue plan for the US's two main mortgage providers, Freddie Mac and Fannie Mae, has made investors feel slightly more confident about the financial sector. Also having a considerable impact on the dollar are commodity prices, with oil falling 3.1% yesterday, and gold falling 2.4%.

    The shekel-dollar rate is currently up 0.84% at NIS 3.502/$, and the shekel-euro rate is up 0.33% at NIS 5.4897/$. The shekel-dollar rate was set 0.231% higher yesterday at NIS 3.473/$, and the shekel-euro rate was set 0.767% lower at NIS 5.4719/€.

    Online foreign currency broker Finotec says that if the interest rate gaps continue to narrow, the shekel will come under increasing selling pressure. From the technical perspective, the shekel-dollar rate has remained at around NIS 3.50/$, but has still not broken through this resistance level. A breakthrough could send the shekel-dollar rate up towards NIS 3.64/$, making a change in trend more likely. The shekel-dollar rate currently has support at NIS 3.436/$.

  2. [verwijderd] 29 juli 2008 09:31
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    Bank of Israel raises interest rate to 4%
    The Bank of Israel focused on fighting inflation, and chose to increase the interest rate for the third consecutive month.
    Globes' correspondent 28 Jul 08 18:51
    Governor of the Bank of Israel Prof. Stanley Fischer raised the interest rate for August by 25 basis points to 4%.
    This is the third monthly consecutive interest rate hike. The interest rate is now at its highest level since it was at 4.25% in February 2008.

    The Bank of Israeli cited the need to support the return of the inflation rate and inflation expectations to around the middle of the1-3% inflation target range, which it views as essential as a basis for sustainable growth.

    The Bank of Israel noted that macroeconomic data have given a mixed picture. The Consumer Price Index (CPI) rose 4.8% in the past 12 months and inflation expectations for the next 12 months are around 3%, the ceiling of the price stability target. However, the CPI excluding energy, food, and fruit and vegetables rose by 1.9% over the past 12 months and the "surprisingly low CPI in June" resulted in a lowering of inflation expectations. Recent drops in commodity and energy prices will moderate inflationary pressures.

    As for growth, the Bank of Israel noted that Israel’s GDP is close to its potential. Import and export data for June indicate continued expansion, despite the fact that the strengthening of the shekel against the dollar since the beginning of the year is a factor tending to moderate exports and thus economic activity; and data on sales in retail chain stores show continued increases. However, the Bank of Israel’s Companies Survey and the May and June composite state-of-the-economy indices point to a slowdown in the rate of growth.

    The Bank of Israel concluded that it will continue to support the attainment of a range of macroeconomic objectives, in particular the encouragement of employment and growth and to support the stability of the financial system.

    Published by Globes [online], Israel business news - www.globes-online.com - on July 28, 2008

    © Copyright of Globes Publisher
  3. [verwijderd] 5 augustus 2008 09:14
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    Shekel-dollar rate continues upward
    Prico: Lower current account surpluses and higher unemployment figures will weaken the shekel.
    Erez Wollberg 4 Aug 08 11:09
    The shekel-dollar and shekel-euro exchange rates rose in interbank trading this morning. Investors are now waiting for tomorrow's announcement from the US Federal Reserve on its interest rate for the coming month. Most analysts expect the Fed to leave the interest rate unchanged at 2%, so the interest rate gap between Israel and the US will also remain at 2%. Trading in the dollar has also been affected by global trends and more specifically, the strong macroeconomic data published in the US at the end of last week.
    Locally, the shekel-dollar rate has been creeping upward ever since the Bank of Israel announced it would step up the pace of its foreign currency purchases to $100 million a day. This means that the market will face a deluge of shekels, which the central bank intends to absorb by issuing short-term treasury bills later this month to the tune of NIS 7.5 billion, of which NIS 1 billion will be short-term (three months).

    The shekel-dollar rate is currently up 0.75% at NIS 3.5413/$, and the shekel-euro rate is up 0.87% at NIS 5.5198/€. The shekel-dollar representative rate was set 1.3% higher on Friday at NIS 3.515/$, and the shekel-euro rate was set 1% higher on Friday at NIS 5.472/€/

    Online foreign currency broker Prico says that, in the short-term, the potential for devaluation of the shekel has not yet run its course and that the dollar is likely to rise to NIS 3.56-3.58/$ and, should it break through the NIS 3.62/$ level, reach the previous high of NIS 3.66/$. A breakthrough of the previous high will support an upward surge towards NIS 3.80/$.

    The fall of the current account surplus coupled with worsening employment figures and the fear of an economic slowdown are likely to contribute to the weakening of the shekel and the strengthening of the dollar, a trend that is likely to be supported by markets overseas as the dollar strengthens against leading currencies.

  4. [verwijderd] 13 augustus 2008 22:10
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    Shekel-dollar rate rises
    Easy Forex: The exchange rate could move to NIS 3.67/$.
    Sharon Baider 13 Aug 08 10:07
    The shekel-dollar exchange rate rose 0.3% to NIS 3.60/$ in early morning inter-bank trading today, and the shekel-euro exchange rate rose 0.5% to NIS 5.375/€.
    Yesterday's shekel-dollar representative exchange rate was set at NIS 3.595/$, up 0.64% on the day before, and the shekel-euro representative exchange rate was set at NIS 3.556/€, down 0.18% on the day before.

    Foreign currency trading is taking place against the backdrop of the 2009 budget discussion by the cabinet. Proposals are veering between a defense-oriented budget and a welfare-oriented budget, and ministers will have to decide their tendency and what cuts to make.

    Easy Forex says that if the shekel-dollar exchange rate breaks through the NIS 3.60/$ resistance level, it could reach NIS 3.67/$. The shekel-dollar exchange rate resumed its climb on Tuesday, after a time-out on Monday, to close at the edge of the NIS 3.60/$ resistance level. Despite some weakness in afternoon trading that sent the exchange rate down to NIS 3.585/$.

    eTrader says that whereas until now the shekel-dollar exchange rate was affected by the dollar's level in international markets, the correlation is now much weaker. Since the Bank of Israel began its intervention in the foreign currency market, the shekel-dollar exchange rate has been less affected by trading on international markets. Governor of the Bank of Israel Prof. Stanley Fischer's intervention and how the dollar purchasing program will end is worrying many traders. Even if the shekel-dollar exchange rate rises, it will be hard to break through the NIS 3.60/$ resistance level. The market is now on its summer vacation, trading is thin, and volume low.

    Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2008

    © Copyright of Globes Publisher Itonut (1983) Ltd. 2008

  5. pim f 20 augustus 2008 20:02
    France bans broadcast of TV shows for babies

    By CHRISTINE OLLIVIER – 2 hours ago

    PARIS (AP) — France's broadcast authority has banned French channels from airing TV shows aimed at children under 3 years old, to shield them from developmental risks it says television viewing poses at that age.

    She was referring to two foreign channels that can be seen in France on cable television, BabyFirstTV and Baby TV.

    The three companies behind BabyFirstTV are Regency Enterprises, a film and TV production company that is a partner of News Corp.'s Fox Entertainment; Kardan N.V, an investment group based in the Netherlands and Israel; and Bellco Capital, a private Los Angeles-based investment fund.

    etc

    ap.google.com/article/ALeqM5jNXX-uQka...
  6. pim f 22 augustus 2008 20:58
    Tel Aviv Rental Apartments Become Real Estate Gold

    By Carole Fradette
    Israel News Agency

    Jerusalem, Israel --- August 22 … With the peace process moving forward in the Middle East, a drop in terror attacks and a record breaking season for tourists visiting Israel, rental apartments in Tel Aviv have quickly turned into a much prized asset.

    Hard evidence that the Tel Aviv apartment rental and sales sector is rapidly expanding is illustrated by the Tel Aviv Stock Exchange (TASE) which has also risen recently, and of all sectors real estate has taken the largest and most consistent jump.

    Investors both in Israel and abroad run first for the real estate sector morning sessions begin and end with Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK) and Kardan NV (TASE: KRNV;AEX:KARD) becoming the two main beneficiaries. Africa-Israel climbed 4.5 percent while Kardan rose 5.3 percent.

    tinyurl.com/66qcza
  7. [verwijderd] 1 september 2008 20:53


    Mon: TASE struggles on Labor Day
    The Real Estate Index fell 3.6% to lead shares down.
    Yael Schwartzbart 1 Sep 08 18:32
    The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.88% to 998.24 points, the Tel Aviv 100 Index fell 0.98% to 909.30 points, but the Tel-Tech rose 0.78% to 237.96 points. Turnover was NIS 1.1 billion.
    The Tel Aviv 25 Index fell below 1000 points today, as the Labor Day holiday in the US left the TASE open to European influences, falling oil prices, and the completion of the local reporting season.

    In the foreign currency market, the shekel-dollar exchange rate rose 0.72% to NIS 3.618/$, a level last seen in February, but the shekel-euro exchange rate fell 0.09% to NIS 5.293/€.

    The Real Estate 15 Index fell 3.6%, regaining its status as the biggest losing index. The Banking Index had held this distinction for several sessions. Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) fell 4.7% after the board allocated 378,500 options to the new CEO, Izzy Cohen, and following the company's NIS 91 million second quarter loss attributable to shareholders. Delek Real Estate Ltd. (TASE: DLKR) fell 7% after losing NIS 105.4 million in the second quarter and reporting a NIS 2.1 billion working capital deficit.

    Another real estate company, Arazim Investment Ltd. (TASE: AZRM), fell 15% in the wake of the company's NIS 96.6 million second quarter loss and today's announcement of a NIS 138 million tax assessment for 2006 and 25% quarterly dividend. The reason for the tax assessment is the company's foreign subsidiaries.

    The Banking Index fell 1.5% today, dragged down by a 1.5% drop by Bank Hapoalim (TASE: POLI; LSE:80OA), a 1.3% drop by Bank Leumi (TASE: LUMI), and a 2.5% drop by Israel Discount Bank (TASE: DSCT). Merrill Lynch today released a pessimistic report about Discount Bank's performance. "To achieve its goal of a 13% return on equity in 2010, the bank will have to double its net profit," said the analysts, an achievement that they are skeptical about.

    Israel Chemicals Ltd. (TASE: ICL) fell 1.9% and Makhteshim Agan Industries Ltd. (TASE: MAIN) fell 1.2% despite being included in UBS's stock picks for fertilizer and crop protection companies, respectively.

    Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) bucked today's market, rising 0.4%.

    The Tel-Tech also bucked the market trend, thanks to a 7.5% gain by Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) after it terminated the takeover agreement by Mivtach Shamir Holdings Ltd. (TASE:MISH) and its partners.

    Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2008

  8. [verwijderd] 16 september 2008 20:57
    TEHRAN (Reuters) - Iran's supreme leader has put its elite Revolutionary Guards in charge of defending the oil-rich Gulf against any enemy attacks, a top military adviser to Ayatollah Ali Khamenei was quoted as saying on Tuesday.

    The Guards, seen as fiercely loyal to Iran's system of clerical rule, would not hesitate to "confront foreign forces", adviser Yahya Rahim-Safavi told the official IRNA news agency.

    The move comes amid persistent speculation about a possible U.S. or Israeli strike on Iran's nuclear facilities, which the West and Israel say are part of a clandestine bid to build atomic bombs, despite Tehran's denials.

    Energy experts are concerned any conflict in Iran could lead to a shutdown of the Strait of Hormuz, a narrow waterway between the Gulf and the Sea of Oman through which roughly 40 percent of the world's traded oil is shipped.

    Rahim-Safavi, previously head of the Revolutionary Guards, said Khamenei, Iran's top authority, had given full authority to the Guards as the only military force defending the Gulf.

    "After the Americans found out about this decision they told their warships not to get close to Iranian territory because the Revolutionary Guards do not hesitate to immediately confront foreign forces," he said.

    Alongside the regular army, Iran has a Revolutionary Guards force viewed as guardians of the Islamic ruling system.

    The Guards have a separate command and their own air, sea and land units. They are deployed on sensitive border regions and guard key institutions and their arsenal includes the Shahab-3 missile, which reportedly can reach targets in Israel.

    One Iranian analyst said power in the military had increasingly shifted to the Guards, particularly in naval operations because of the cost of running a parallel navy.
    "It is an indication of the power of the Revolutionary Guards. They are the main protector of the Islamic Republic and Islamic revolution, and they are trusted by the supreme leader," the analyst said about Khamenei's decision.

    Putting the elite force in charge was probably also aimed at adding weight to Iran's claim that it could maintain security and defend its territorial waters in the Gulf, the analyst said.

    Rahim-Safavi said the regular army would still be in charge of the Caspian Sea and the Sea of Oman. The IRNA report did not elaborate on what practical impact Khamenei's order would have.

    Iran has dismissed reports of possible U.S. or Israeli plans to strike Iran, but says it would respond by attacking U.S. interests and Israel if any such assault was made.

    (Reporting by Parisa Hafezi and Edmund Blair; Writing by Fredrik Dahl; Editing by Richard Balmforth)

  9. [verwijderd] 16 september 2008 23:27
    Data delayed 20 minutes.
    5 records found
    Name
    Symbol/
    number Timestamp/
    trading stage Last price
    points* Today's
    change Change %
    Turnover
    NIS '000s Today's
    high Today's
    low Change month
    to date % Change Year
    to date %



    KARDAN ISR W4 1210095 close 114.30
    -11.10 -8.85% 0.70 115.000 101.000 -42.53% -73.23%
    KARDAN ISRAEL 1210079 close 684.80
    -85.60 -11.11% 139.09 770.00 671.00 -30.26% -55.68%
    KARDAN N.V. 1087949 close 2,830.00
    -490.000 -14.76% 17,776.97 3,189.00 2,830.00 -30.84% -55.15%
    KARDAN TECHNO-L 1085026 close 60.50
    -4.50 -6.92% 1.35 60.00 60.00 -24.84% -62.00%
    KARDAN USR C3 1210087 close 111.30
    -1.00 -0.89% 58.99 111.30 111.30 -0.89% -10.13%

  10. [verwijderd] 28 september 2008 18:22
    Sun: Year ends with Tel Aviv 25 down 15.4%
    Real estate stocks were worst hit over the past year, while the biggest gains were in long-term index-linked bonds. The TASE will be closed until Thursday for the New Year holiday.
    Mishel Udi 28 Sep 08 19:14
    The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 1.13% to 886.84 points; the Tel Aviv 100 Index fell 1.10% to 803.81 points, while the Tel Tech Index was virtually unchanged at 201.08 points. Turnover totaled NIS 1.385 billion.
    5768, the Jewish year now ending was not an exceptionally successful one for the TASE. Investors in real estate and technology stocks saw the value of their investments halved, with investors in conservative instruments, especially long-term index-linked bonds, the only ones to see some joy from their holdings. Paradoxically, the safest bonds were the ones that yielded the highest return. Yields on the various investment instruments were quite varied. Investors in Tel Aviv 25-listed equities benefited from substantial exposure to Israel Chemicals Ltd. (TASE: ICL), which slowed the declines dramatically, bringing the fall in the Tel 25 Index over 5768 to 15.4%, against 21.6% for the Tel Aviv 100 Index.

    The Tel Aviv Real Estate 15 Index lost 55.3% over 5768, followed by the Tel Tech Index which tumbled 51.6%. Stocks in both sectors were affected by negative sentiment. The 16.6% fall over the year in the shekel-dollar exchange rate meant that the cost of an Israeli engineer has become the same as that of his American counterpart, and dollar-denominated revenues shrank accordingly. The big winners in the past year were long long-term index-linked instruments, or Galil bonds for short. The yield on Galil 5.7-year average duration notes rose by 11.05% over the year.

    In market news, Delek Real Estate Ltd. (TASE: DLKR) announced on Thursday that it would be able to repay the loan it took to acquire UK petrol station and convenience store chain RoadChef, but the company has other liabilities and many people felt the prices it agreed in its deals were a sign of pressure and showed it to be ill prepared for the crisis. Delek Real Estate fell 6.2% today on brisk volume.

    Delek Real Estate's parent, Delek Group Ltd. (TASE: DLEKG) also finished the day lower, falling 2.3% despite an exceptionally strong recommendation from Clal Finance Batucha.

    IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Koor Industries (TASE: KOR) closed down 0.2% after announcing at the end of the last week that it had completed the sell-off of its holding in Credit Suisse and would record a capital gain of NIS 533 million in the third quarter, which ends today.

    Published by Globes [online], Israel business news - www.globes-online.com - on September 28, 2008

  11. [verwijderd] 2 oktober 2008 20:02
    Thu: TASE falls after holiday
    Banks, real estate, chemicals, and technology stocks dropped, but Teva and communications companies bucked the trend.
    Yael Schwartzbart 2 Oct 08 18:42
    The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 4.47% to 847.22 points, the Tel Aviv 100 Index fell 5.34% to 760.89 points, and the Tel-Tech fell 6.88% to 187.15 points. Turnover was NIS 2.84 billion.
    TASE traders had to deal with intense market volatility on their return from the Rosh Hashana holiday. The market dropped sharply at the opening, but a midday rally failed to gain traction and stocks fell again toward the close. European markets gained ground early today in anticipation of a positive opening on Wall Street following yesterday's approval of the bailout by the US Senate.

    Over Rosh Hashana, markets saw a freefall on Wall Street after the US House of Representatives failed to pass the bailout, and both US and European markets had to deal with a slew of bank rescues, bailouts and nationalizations. The European Central Bank today kept the euro interest rate unchanged at 4.25%.

    Sharp fluctuations continued in the foreign currency market, with the shekel-dollar exchange rate up 2.13% to NIS 3.494/$, but the shekel-euro exchange rate down 2.97% to NIS 4.851/€.

    In the stock market, Israel Chemicals Ltd. (TASE: ICL) fell 14.4% and its parent, Israel Corp. (TASE: ILCO) fell 14.9%. Israel Chemicals is suffering from poor sentiment to fertilizer companies in general. Makhteshim Agan Industries Ltd. (TASE: MAIN) fell 9.5% on similar sentiments about agriculture.

    As usual, real estate overplayed the session's movements. The Real Estate 15 Index fell 15.8%, with all share down sharply, including several which lost more than a fifth of their value. Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) fell 18.9%, its subsidiary, Africa-Israel Properties Ltd. (TASE: AFPR) fell 22.8%. Fishman Holdings subsidiary Jerusalem Economic Corp. (TASE:ECJM) (JEC) fell 24.4%, Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) lost 20.9%, while Gazit-Globe Ltd. (TASE: GLOB) faired fairly well with a 9.9% drop.

  12. [verwijderd] 5 oktober 2008 19:36
    Sun: Tel Tech Index slumps 11.5%
    The market was extremely negative today with Israel Chemicals and its parent Israel Corporation among the hardest hit.
    Yael Schwartzbart 5 Oct 08 18:59
    The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 6.33% to 793.59 points; the Tel Aviv 100 Index fell 7.08% to 707.03 points, and the Tel Tech Index slumped 11.49% to 165.73 points. Turnover totaled NIS 1.792 billion.
    Stocks on the TASE took a hammering today, as investors scrambled to offload whatever shares they could. The herd mentality was driven by the stormy close to the week in the US, where markets suffered their worst week since September 2001. In foreign currency news, the trading in options signaled a 0.23% in the shekel-dollar rate, which closed at NIS 3.473/$. The bond market was also hard hit today, with long-term shekel instruments ending the day 0.8% lower, while long-term indexed instruments fell 1.9%.

    All the stocks on the Tel Aviv 25 Index suffered heavy falls today. Two of the biggest losers were Israel Chemicals Ltd. (TASE: ICL), which fell 9.1% by the close, and its parent Israel Corporation. (TASE: ILCO), which plunged 15.3%.

    The big banks, Bank Hapoalim (LSE: 80OA; TASE: POLI) and Bank Leumi (TASE: LUMI) came in for similar treatment from investors. A report published last week by "Globes" highlighting the vulnerability of Israel's banking sector, revealed that the credit given by the big banks to the largest borrowers (NIS 1.2 billion) amounted to 65% of their shareholder's equity, and that 13 other borrowers had received credit totaling NIS 1.6 billion. Bank Hapoalim fell 9.2% today and Bank Leumi fell 6.5%.

    But despite the collapse in prices across the equities market, the real drama took place in the corporate bonds sector. The Tel Bond 60 Index ended the day down 5.3%, with real estate companies the biggest losers yet again. Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK) and Jerusalem Economic Corp. (TASE: ECJM) (JEC) suffered the heaviest losses today, with JEC's Series 6 bonds falling 24.6% in today's session during it traded a return of 14.9%, followed by Africa-Israel, whose Series 6 bonds fell 24.4% and were traded at a return of 30.7%.

    Speaking during this morning's cabinet meeting on the impact the global financial crisis could have on the Israeli economy, Minister of Finance Ronnie Bar-On said that "for the time being, there was no real cause for concern." Traders on the TASE clearly felt otherwise.

    Published by Globes [online], Israel business news - www.globes-online.com - on October 5, 2008

  13. [verwijderd] 6 oktober 2008 19:02
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    Delek Group to distribute Delek Real Estate shares
    Delek controlling shareholder Yitzhak Tshuva will personally hold a 48% stake in Delek Real Estate.
    Eran Peer6 Oct 08 10:19
    The board of Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, yesterday approved the distribution of shares in its real estate subsidiary Delek Real Estate Ltd. (TASE: DLKR) as a dividend in kind to its shareholders. Delek Group holds 80% of Delek Real Estate.
    The company said in a notice to the Tel Aviv Stock Exchange (TASE) that, at its meeting of October 5, the board had authorized the management to look at a number of options for distributing all or most of Delek Real Estate's shares to shareholders, so that the company's shareholders will also directly hold shares in Delek Real Estate.

    This will mean that Yitzhak Tshuva will personally hold 48% of Delek Real Estate directly, and will guarantee the company personally in place of Delek Group.

    Delek Group stressed that it had more than enough profit for distribution, should the company decide to adopt one of the options.

    Delek Group CEO Asaf Bartfeld told "Globes", "Delek Real Estate has been suffering from negative sentiment in recent months, and it will become a sister company to Delek Group. The move serves the interests of both companies, and will improve Delek Group's balance sheet."

    Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2008

102 Posts
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