ZIM is being sold to the German shipping giant Hapag-Lloyd and Fimi Opportunity Funds for approximately $3.7 billion. The two entities are acquiring 100% of ZIM’s shares, which will subsequently be delisted from the New York Stock Exchange. ZIM has been traded in New York since early 2021, following an initial public offering (IPO) at a valuation of $1.5 billion.

ZIM’s current market valuation stands at $2.7 billion.

Hapag-Lloyd is the world’s fifth-largest shipping company by container capacity, controlling 7.4% of the global market. ZIM is ranked ninth, with a 2.5% market share. Notable shareholders in the German firm include Qatar Holding (12.3%) and the Saudi Public Investment Fund (PIF) (10.2%).

During a recent discussion in the Knesset Economic Affairs Committee, Chairman David Bitan stated: “It is clear that we will not allow Qatar to take over ZIM. Just as I opposed the sale of the Port of Ashdod—which received all the munitions during the war—and just as we need one port in our hands, we must keep one shipping company in our hands.”

The Hapag-Lloyd and Fimi consortium won the tender conducted by ZIM’s board of directors, which rejected a competing bid led by ZIM CEO Eli Glickman and businessman Rami Ungar. The Israeli government holds a ‘Golden Share’ in the company, intended to ensure the shipping line serves the national economy during emergencies, similar to the arrangement with El Al.

Under the deal, FIMI Opportunity Funds will acquire ownership of the ZIM brand and its 16 owned vessels. FIMI will also acquire the rights to operate two of ZIM’s five primary maritime shipping routes. Hapag-Lloyd will take over the lease contracts for 99 of ZIM’s chartered vessels and the rights to operate intra-Asian container routes, the Far East-to-US West Coast/Gulf of Mexico routes, and Latin American shipping lines.

Subscribe now

Five consortia, comprised of Israeli and international firms with extensive infrastructure and transportation experience, have submitted bids for the construction and operation of the Route 5 Express Lanes venture. The five groups are: Minrav and Bon Tour; Electra; Denya Sibbus in partnership with Dan; Shapir Civil Engineering; and Shikun & Binui in partnership with Egged Holding. The evaluation phase is expected to conclude in the coming months.

The project involves the construction of a two-way express lane along Route 5 on the segment between the Kessem Interchange and Glilot East. Adjacent to this, a major Integrated Transport Hub (ITH) will be built at the Kessem Interchange, featuring approximately 3,200 parking spaces. This hub will allow commuters to park their private vehicles outside the metropolitan area and continue their journey via public transit or a dedicated, free shuttle service to major employment centers in Gush Dan. The project is slated to open to traffic within approximately five years.

The goal of the Route 5 Express Lanes is to encourage a shift from private vehicles to public transportation and mass transit, thereby shortening commute times and reducing traffic congestion. The project will connect to the express lane network on Routes 20 (Ayalon) and 2 (the Coastal Road)—which is expected to open this coming March—creating a continuous network of express lanes to ease congestion across the Tel Aviv metropolis.

The project is being advanced through the inter-ministerial tender committee for the financing, construction, operation, and maintenance of express lanes, headed by Oshrat David-Deker, Senior Deputy to the Accountant General. The committee includes representatives from the Ministries of Transport and Finance, Ayalon Highways, and the government-owned Inbal Company. Executed as a Public-Private Partnership (PPP), the chosen concessionaire will be responsible for financing, planning, building, and operating the project for a 25-year term, after which responsibility will revert to the State.

Finance Minister Bezalel Smotrich: “The submission of bids for the Route 5 Express Lanes is great news for the citizens of Israel. We continue to invest in smart infrastructure that saves time, reduces congestion, and strengthens the economy. The PPP method allows us to leverage the capabilities of the private sector without relinquishing full state responsibility—creating advanced, efficient, and cost-effective transport solutions for the public. A continuous express network at the entrances to Gush Dan is not just a transport project—it is a national growth engine. Less time in traffic means more time for family, work, and life.”

Minister of Transport and Road Safety, Brig. Gen. (Res.) Miri Regev: “The Route 5 Express Lanes project is another strategic move in the policy led by the Ministry of Transport to reduce congestion at the entrances to the Gush Dan metropolis and strengthen public transit. We are continuing to expand the express lane network, linking national projects and creating a true alternative to the private car—all for the sake of shortening travel times, improving quality of life, and bolstering the Israeli economy.”

Director General of the Ministry of Transport, Moshe Ben-Zaken: “The submission of bids marks significant progress toward realizing one of the most important transportation projects in Israel. This is a complex, large-scale project advanced through cooperation between government ministries and the private sector, expected to significantly improve the accessibility, efficiency, and attractiveness of public transport in the Gush Dan metropolis.”

CEO of Ayalon Highways, Orly Stern: “This tender stage marks an important milestone. The express lanes from Kessem Junction to Route 20 will be integrated and connected to the express lane project opening soon.”

The ISA, Ministry of Defense, and Israel Police announced this Thursday that several suspects, including a civilian and reservists, were recently arrested. They are suspected of managing bets on the Polymarket website regarding the occurrence of military operations, based on classified information to which the reservists were exposed by virtue of their roles in the IDF.

Following an investigation by Malmab (the Ministry of Defense Security Authority) and the ISA, and after an evidentiary basis was established against a civilian and a reservist, the State Attorney’s Office decided to prosecute them for serious security offenses, bribery, and obstruction of justice.

The investigation was conducted jointly by the ISA and the “Erezim” unit—a joint task force of Malmab and the Israel Police—along with the Military Police (MPCID) and Information Security Department, accompanied by the Cyber Department of the State Attorney’s Office.

The defense establishment emphasized that conducting such bets based on secret and classified information poses a genuine security risk to IDF operations and national security.

“Malmab, the ISA, the Israel Police, and the IDF take the acts attributed to the defendants very seriously and will act decisively to thwart and prosecute any person involved in the illegal use of classified information,” they added.

The IDF Spokesperson stated: “The IDF views any act that endangers national security with extreme severity, particularly the use of highly classified information for personal gain, as suggested by the information received by the IDF. This is a severe ethical failure and a clear crossing of a red line that is inconsistent with IDF values and what is expected of those who serve. Criminal and disciplinary proceedings will be taken against any party found to be involved in actions of this type.”

Authorities further clarified that, according to the findings of the investigation, no operational harm was caused in this specific instance. "The IDF will not tolerate such conduct. Following the incident, steps were taken and procedures will be tightened across all IDF units to prevent the recurrence of similar cases."

Polymarket allows users to buy and sell ‘contracts’ on the outcomes of events, including NFL games, and is not "betting" in the traditional sense. The platform belongs to the category of Prediction Markets, which offer a way to navigate betting laws in jurisdictions where sports betting is still prohibited.

Gav-Yam released its 2025 financial report this morning (Wednesday), summarizing a year of growth and expansion across all operational parameters. NOI (Net Operating Income) for 2025 totaled approximately NIS 759 million, a 10% increase compared to last year.

In the fourth quarter, this figure reached NIS 199 million, a 12% increase over the corresponding quarter last year. Additionally, Same-Property NOI saw a 5.5% rise year-over-year.

FFO (Funds From Operations) attributable to shareholders totaled NIS 432 million for the year, reflecting a 6.1% increase compared to 2024. In the fourth quarter, FFO stood at approximately NIS 110 million, a 9% increase over the parallel quarter last year. Since the beginning of the year, the share price has surged by approximately 7%, closing yesterday with a 1.83% gain.

According to the company’s guidance, NOI in 2026 is expected to range between NIS 825–845 million, with FFO attributable to shareholders expected between NIS 450–460 million. The company also released projections for 2026–2028 for shareholder-attributed NOI and FFO, normalized based on the fourth quarter of each year. According to these forecasts, NOI is expected to grow by approximately 52% and FFO by 50% over the next three years.

Furthermore, income from the increase in the fair value of investment property totaled NIS 541 million over the past year, stemming primarily from the impact of the Consumer Price Index (CPI) rise and the revaluation of assets under construction.

Net profit attributable to shareholders totaled NIS 670 million at year-end, a roughly 40% increase compared to last year. In the fourth quarter, net profit attributable to shareholders totaled approximately NIS 168 million, a 60% jump compared to Q4 2024.

Additionally, the occupancy rate climbed during the year, standing at 97% compared to 95% at the end of 2024. During the year, Gav-Yam signed 192 lease agreements for existing assets with an average real increase of approximately 4.2%. In the fourth quarter, the company signed 58 lease agreements for existing assets, reflecting an average real increase of about 4%.

During the year, the company completed the construction of three income-generating projects: Buildings #1 and #2 at the Gav-Yam Hebrew Park, Building #5 at Gav-Yam Park Rehovot, and Building #5 at Gav-Yam Park Negev.

Gav-Yam has 6 projects under development in high-demand areas, encompassing a total area of approximately 290,000 sqm (Gav-Yam’s consolidated share), with a total investment of NIS 3.8 billion. These are expected to add approximately NIS 290 million to the company’s annual revenue. Completion is expected between 2026–2027, and about 51% of the above-ground areas in these projects have already been marketed.

Moreover, the company holds income-generating assets totaling approximately 1.3 million sqm, all unencumbered, located in the country’s prime real estate hubs, with an occupancy rate of approximately 97%.

“Gav-Yam concludes a year of growth, presenting strong results and increases across all operational parameters. Despite the complex business environment, characterized by uncertainty throughout the year, we surpassed all the challenging growth targets we set for ourselves at the beginning of 2025, and we are issuing strong forecasts for the next three years, anticipating continued growth of approximately 50% in NOI and FFO,” said company CEO Natalie Mishan-Zakai.

Subscribe now

In just a few months, Saudi Arabia has frozen rents, opened property ownership to foreigners, relaxed alcoholic beverage regulations, and opened its stock market to investors worldwide.

These moves come as Crown Prince Mohammed bin Salman seeks to transform the country into a prime investment destination and compete with neighboring Dubai. They also signal how the Gulf state is navigating oil price volatility and budget deficits that threaten to slow progress on its massive $2 trillion economic diversification plan.

An influx of foreign cash would help companies expand, drive infrastructure financing, and lighten the government’s investment burden. Crucially, it could alleviate financial pressure.

Saudi Arabia has been in a fiscal deficit since 2022, with expenditures outstripping revenues, and has recorded a current account deficit for five consecutive quarters. This situation has led to more aggressive borrowing and a further pullback on so-called “mega-projects.” Slower credit growth is also adding to the strain.

Brent crude briefly crossed the $70 per barrel mark last week for the first time in months, only to begin sliding again today. The recent spike in oil prices illustrates just how quickly Saudi Arabia’s fortunes can shift. Concurrently, geopolitical tensions between the U.S. and Iran, which have driven price fluctuations, threaten to damage the Middle East’s appeal as an investment target.

With a population of approximately 35 million, the majority under the age of 35, and a $1 trillion sovereign wealth fund, Saudi Arabia’s growth potential has already captured global attention. However, the Kingdom needs to raise additional capital to diversify its economy across sectors ranging from tourism to technology and mining.

Prime Energy and Delek Properties, controlled by Lahav LR, are launching a strategic move to transform the Israeli energy market. As part of this initiative, 65 existing fueling complexes owned by Delek Properties will be converted into advanced energy centers. These sites will evolve from fuel sales compounds into power stations based on smart storage.

The investment volume is expected to total approximately NIS 930 million. In the first full year of operation, projected revenue stands at approximately NIS 227 million, with a projected EBITDA of NIS 107 million. The project yield is expected to total approximately 12%, with an investment yield of approximately 23%. Following the announcement, Delek Properties’ share price rose by approximately 2%, while Prime Energy’s share surged by nearly 10%.

Under the agreement, Delek Properties will be entitled to an expected annual rent of approximately NIS 6 million with no investment on its part. It will also benefit from electricity availability at reduced rates and the potential for revenue growth.

The collaboration between Prime Energy and Delek Properties will establish Israel’s largest private electricity storage array. The BESS (Battery Energy Storage Systems) to be installed will transform the fueling complexes into local energy units, providing a variety of services to the electricity market. Furthermore, this includes load management, supply and support for the national grid, and support for ultra-fast charging for electric vehicles.

This initiative enables the deployment of advanced EV charging infrastructure independent of grid connection strength, serving as an infrastructural solution for the expected rise in electricity demand.

In accordance with the agreement, the parties intend to expand the project to the entire Delek Israel network - Delek Properties' sister company - which numbers approximately 240 fueling complexes, as well as complexes owned by other companies. Completing this move is expected to bring the cumulative storage volume to approximately 5 gigawatt-hours (GWh) across all Delek Israel stations. Additionally, it aims to establish a nationwide decentralized energy infrastructure. Furthermore, this move will bring Prime Energy's total storage capacity to approximately 10 GWh.

Yaron Kikoz, Vice Chairman and controlling shareholder of Prime Energy, stated that, “In the first stage, the volume is expected to be approximately 1.5 GWh, representing a step-up in activity volume.” He further noted that, “This is a national infrastructure project that will assist the electricity sector in coping with growing demand challenges and support the accelerated transition to electric transportation.”

Felix Shofman, CEO of Delek Properties, stated that “The company is preparing for the electric vehicle era in the most comprehensive manner, while ensuring widespread nationwide electricity availability, independent of local grid limitations.”

AudioCodes has reported its financial results for the fourth quarter and full year of 2025, announcing a semi-annual dividend distribution of 20 cents per share.

Quarterly revenue for the company, which develops, manufactures, and markets products for voice and data transmission over telecommunications networks, totaled $62.6 million, a 1.7% increase compared to the corresponding quarter.

Total revenue for 2025 stood at $245.6 million, a 1.4% increase compared to 2024. Quarterly services revenue reached $34.6 million, up 1% from the corresponding quarter. Full-year services revenue for 2025 totaled $130.7 million, a 0.4% increase over 2024.

The quarterly gross margin was 65.6%, and the quarterly operating margin was 6.0%. Quarterly EBITDA stood at $4.9 million.

Net income for the quarter totaled $1.9 million, or 7 cents per diluted share. For the full year 2025, net income totaled $9 million, or $0.31 per diluted share.

Cash flow from operating activities totaled $4.1 million for the quarter and $29.4 million for the full year 2025.

President and CEO of AudioCodes, Shabtai Adlersberg: “The fourth-quarter performance highlights the success of our transformation into a Voice AI company based on cloud software and services.

“Results were characterized by strong momentum in our two main growth engines: our family of managed services (Live services) in the fields of Customer Experience (CX) and Unified Communications (UCC), and our AI-based value-added services (Conversational AI). Together, these two areas drove growth in our Annual Recurring Revenue (ARR) to $79 million, a 22% increase compared to the previous year.

“With the growing demand for our Voice AI applications in the enterprise market, we are confident in the success of this new growth engine in the coming years. Our investments in Live services and Conversational AI over recent years have contributed significantly to our strong operational momentum, and we expect them to contribute to stable and healthy revenue growth in 2026 and beyond.”

The Knesset Economic Affairs Committee, chaired by MK David Bitan, discussed an urgent proposal today (Monday) regarding the lack of parliamentary oversight on banking service prices and criticism of the planned fee reform. The proposal was submitted by MK Vladimir Beliak and a group of Knesset members. Chairman Bitan noted that the committee maintains ongoing parliamentary oversight of the banking sector and that he is responsive to requests from Knesset members on the matter.

MK Beliak stated that his proposal was not a criticism of the committee, but rather a reflection of the fact that Knesset members are not sufficiently engaged with issues related to financial services pricing, noting that the financial system plays a significant role in the cost of living. He requested a discussion on the reform currently being formulated by the Bank of Israel regarding fees - which would include a flat payment of 10 shekels for 100 common current account operations - and asked for details in order to formulate his position.

He further warned that those currently receiving discounts or exemptions might be harmed by the situation. MK Simon Davidson added that 31% of accounts are currently completely exempt from fees, and the reform could potentially stifle competition.

MK Mickey Levy urged the Bank of Israel to conclude discussions on the reform and launch it, emphasizing that banks have earned over 30 billion shekels in recent years, calling these “excessive profits.” MK Meir Cohen added that the Israeli public is the “cash cow” of the banks in Israel and that a line must be drawn.

Lobby 99 representative, Ella Tamir Shlomo, stated that the planned reform will be enacted through banking rules approved by the Bank of Israel without requiring the Economic Affairs Committee’s approval, constituting a lack of parliamentary oversight. She added that the banks continue to raise fees and interest rates with one hand, while moving customers to digital activity with the other without rolling the cost savings over to the public.

According to her, the proposal to set a basket of 100 operations for up to 10 shekels is a poor solution, noting that in countries like France, England, and Germany, the regulator has established a full exemption from basic current account fees.

Granit Ofek, Manager of the Regulation Unit at the Banking Supervision Department, noted that a service called the ‘Basic Track’ already exists (established in 2014), which includes a track at a supervised maximum price. She explained that the new reform allows for more actions and services at the same price. Furthermore, customers will not need to join actively, and naturally, banks can offer the services at a lower price. She also noted that one bank currently offers a full exemption on current account fees, and in the Banking Supervision Department’s view, this is a factor that generates competition.

Ofek further explained that the main beneficiaries of the reform will be small businesses and households currently paying more than 10 shekels because they are unaware of the track service. Additionally, non-digital customers who operate via a branch teller or call center will see their situation improve, as these are currently more expensive services compared to digital channels.

According to her, there are approximately 250,000 small business accounts currently paying an average of 18 shekels per month. Conversely, about 20% of customers currently pay 6-7 shekels a month due to low activity; they will have to decide whether to increase activity or close the account. Answering MKs regarding the impact on bank revenues, Ofek noted that the expected decrease in revenue ranges from tens of millions of shekels up to approximately 100-200 million shekels for the entire banking system.

Gali Casperi, Manager of the Research Unit at the Association of Banks in Israel, stated that the Association opposes a reform that harms revenues and believes the proposed price intervention is too aggressive. She added that one must look at the entire basket of banking services, noting that while a certain group in England enjoys fee exemptions, there is also a 39% interest rate on overdrafts.

Chairman Bitan summarized the discussion, stating that the reform is good overall. He asked the Bank of Israel to reconsider the change regarding those managing accounts with little activity who currently pay 6-7 shekels a month. He further requested that the Banking Supervision Department conduct a review to see if the reform achieves its goal, and if corrections are needed, to execute them quickly rather than years later. He stated that the Committee will also continue to monitor the situation.

A survey of Israeli employers conducted by the Israel Innovation Authority and Zviran, examined the effects of Artificial Intelligence on the labor market.

The Innovation Authority is an independent and impartial statutory public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy as a whole. It is responsible for the country’s innovation policy,

According to the report, in 2025, despite the deep penetration of AI into the high-tech sector, no significant layoffs were recorded, and there was no material impact on the volume of jobs in the industry.

Among companies that conducted broad layoffs, 75% cited efficiency measures (”streamlining”) as a primary reason, and 27% cited their business situation. In contrast, only 13% cited the implementation of AI as one of the reasons, usually as a contributing factor rather than a sole cause.

The survey was conducted in December 2025 and included 263 employers, of which 192 were high-tech companies, representing approximately 80% of employees in the sector. It includes local companies and multinational corporations operating in Israel across a wide range of fields, including software, hardware, cyber, semiconductors, internet, gaming, defense technology, biotech, and life sciences.

The share of high-tech workers (out of the total employed people in the economy) has stood at around 11% for the past four years, without significant growth. The Innovation Authority survey reveals that AI is already at the core of high-tech activity, but—at least so far—its impact on employment figures is insignificant.

In 2025, cautious signs of recovery were recorded in the volume of recruitment, alongside continued efficiency processes. 94% of high-tech companies in the sample reported recruiting new employees over the past year, but the rate of recruited employees out of total employed persons stands at only 7.9%, slightly lower compared to the rest of the economy.

Concurrently, about 23% of companies indicated they estimate the volume of recruitment in 2026 will be lower compared to 2025. The main reasons for this are not technological but stem from efficiency considerations and the business situation, with AI implementation constituting only a secondary factor in most cases.

Regarding layoffs, the data does not point to AI as a significant factor either. 35% of high-tech companies reported laying off employees in the last six months, against the backdrop of downsizing or closing teams and departments. However, when examining the reasons for these layoffs, it becomes clear that artificial intelligence is not the central cause.

15% of employers in the sector plan layoffs in the coming six months, but 71% of them noted that AI has no influence on the decision, while the rest noted only a minor influence. No company indicated that AI implementation constitutes a significant factor in the decision to fire employees.

52% of high-tech companies reported significant implementation of AI tools in technological work processes, meaning deep integration into systems, development, and infrastructure, rather than just spot or personal use.

Additionally, 43% of high-tech companies reported using AI tools in non-technological roles as well, such as marketing, sales, operations, and human resources. However, only 13% of companies noted full cross-organizational implementation with deep integration into organizational systems.

42% of high-tech companies reported employing workers in roles dedicated to the AI field, including AI researchers, GenAI engineers, model developers, implementation experts, and compliance managers.

In non-high-tech sectors, some penetration of AI roles was also recorded, but at a much lower volume. The implication is that, at least for the time being, the demand for manpower is not disappearing but changing, shifting toward new skills and a deeper integration between technology, data, and people.

Subscribe now

The Ministry of Defense’s Department of Production and Procurement (DOPP) has issued a multi-year procurement order for aerial munitions manufactured by Elbit Systems, valued at over ₪570 million. The Ministry’s Director General, Maj. Gen. (Res.) Amir Baram, signed the deal, which will allow for the expansion of the defense production base and the IDF’s force buildup for both the immediate future and for a projected decade of intense security needs. This move is part of the Ministry’s strategy led by Defense Minister Israel Katz and the Director General.

“Expanding the Israeli defense production base is a top-priority security and national interest. Over the past two years of war across seven different fronts, Israeli defense industries have proven their critical contribution to operational superiority and IDF achievements, in the air, at sea, on land, and in every arena,” said Minister Katz. “As part of the policy I am leading, we will continue to work on developing and expanding defense industry activities in Israel, strengthening ‘Blue and White’ production, and deepening cooperation with local industry.”

“Expanding the production base and engagements with Israeli industry ensures independence, supply continuity, and force buildup for years to come. It strengthens the economy and national resilience, and provides the IDF with the tools needed to cope with both near and distant security challenges,” he added.

Ministry of Defense: Independence, supply chain continuity, preparation for the years ahead

Ministry Director General Maj. Gen. (Res.) Amir Baram added, “This air munitions transaction joins a series of multi-year force buildup deals currently being advanced in air, land, and other domains. These deals will allow for inventory replenishment and procurement for years ahead. This comes alongside investment in expanding the defense production base, which will improve IDF readiness for a decade of intense security, support increased defense exports, and strengthen the economic resilience of defense industries and the Israeli economy.”

Elbit and investors: local production, precision munitions and the stock’s reaction

“Elbit Systems has developed and supplies the Ministry of Defense with a variety of precise munitions, which have proven themselves in the field and contributed significantly to Israel’s aerial superiority in various arenas. We are committed to continuing to strengthen the local production array in Israel, as part of our partnership and commitment to the Ministry of Defense and the IDF, and out of a sense of responsibility for the country’s needs and maintaining its security,” said Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems.

The company’s stock is up by approximately 1.6%. Since the beginning of the year, the stock has surged by 21.4%. The company’s market cap is at nearly ₪104 billion.