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Report: El Al to Cut 1,000 Jobs Due to Coronavirus

The Israeli airliner has reported to the Tel Aviv Stock Exchange that the epidemic could cost it $70 million in lost revenue from January to April.

Teva’s Recovery Hopes Mired in Staggering Antitrust Lawsuit, $26.7 Billion Debt

“Teva is a consistent participant in the conspiracies identified in this complaint, but the conduct is pervasive and industry-wide.”

Israel Gets NIS 17.6 Trillion Valuation

TASE conducted an initial estimate of the valuation the State of Israel would achieve if it were floated on the exchange.

Italian Giant Says New Egyptian Gas Field Is 5 Times Israel’s Reserves

Oil and gas sector shares are trading at sharp declines on the Tel Aviv Stock Exchange, reaching a 7.5% decline by mid-week – and that's before the actual reports about the new field have been issued.

Shari Arison Sells 49% of her 20% Control of Bank Hapoalim Valued at $1.9...

Shari Arison, owner of Arison Investments, is Israel's wealthiest woman.

Having Lost 1/3 of Its Value in 2 Days Teva Drags Down Tel Aviv...

This collapse comes in the wake of the world's biggest generic drugs maker attempt to dominate its market with a $40.5 billion acquisition of Allergan's generics business last year. It was a bad call.

Elovitch Expected to Cede Control of Bezeq

Bezeq, will reportedly give up control of the company as part of negotiations to negotiate a NIS 1.2 billion debt owed by the Eurocom group.

Oded Kobo’s, Roman Abramovich’s Shellanoo Planning TASE IPO

Shellanoo investors include music industry leaders including them Will.i.am, David Guetta, Tiesto, Nicki Minaj, Avicii, Benny Andersson (of ABBA fame).

Israeli Satellite Company Sold to Chinese for $285 Million

The transaction’s terms are pending the successful entry into service of Spacecom’s Amos-6 telecommunications satellite, scheduled for launch Sept. 3.

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Printed from: https://www.jewishpress.com/news/israel/report-el-al-to-cut-1000-jobs-due-to-coronavirus/2020/03/01/

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