US Justice Department says Israel's biggest bank admitted assisting US clients to evade taxes. Hapoalim to pay $874 million to settle tax evasion claims, $30 million over international soccer federation affair.
The NIS 8 billion ($2 billion) appropriation includes $113,000 grant per business. Over 600,000 self-employed Israelis to be eligible for special benefits.
Tourism and hospitality sectors, as well as a substantial part of the private sector, have been hit hardest by the coronavirus outbreak as efforts to curb the spread of the virus had slowed economic activity to an unprecedented 15% capacity.
Defense electronics giant to integrate satellite communication systems and automatic takeoff and landing systems into the Hermes 900 unmanned aerial vehicle its clients are already operating.
The decision on whether to bail out Israel's national flag carrier now falls to Prime Minister Benjamin Netanyahu.
The quarterly figure includes 139 deals, up 76% from a year earlier. It was boosted by $400 million raised by ridesharing company Via Transportation.
National carrier El Al is six weeks from "total collapse," aviation experts warn. Heads of Israel's 3 airlines - El Al, Arkia, and Israir - are pushing for a merger to save industry from crashing.
For several years, US authorities, including the US Department of Justice and the New York Department of Financial Services, have been investigating accusations that the Israeli bank helped US clients evade taxes.
"I am determined to do everything to ensure the future of the company and will act with courage, transparency and fairness," says El Al CEO Gonen Usishkin. Union: "We call on the company's directorship not to make any unilateral decisions."
OurCrowd allows affluent individuals to invest smaller sums in start-ups. Jason Greenblatt: I'm hoping to be able to utilize the platform and connect Israel and the Gulf to “continue the momentum.”
