Regulator tells Akirov his Alrov can’t buy controlling stake in Clal Insurance
The Israel Securities Authority (ISA) won’t allow Alfred Akirov’s Alrov Properties and Lodgings (TLV:ALRP) to buy a controlling stake in Clal Insurance Enterprises Holdings (TLV:CLIS), news outlet Globes reported.
ISA chief Amit Gal reportedly informed Akirov that he can buy the shares of Clal Insurance privately.
Akirov currently owns a 15% stake in Clal Insurance but seeks to increase his stake to 30%.
Discount Bank pledges no credit for bigots as business community reacts to discrimination laws
Israel Discount Bank (TLV:DSCT) has updated its credit policy in order not to grant credit to any business or organization that discriminates against customers on the basis of religion, race, gender, or sexual orientation, The Times of Israel reported.
The decision was taken “to clearly voice their opposition to discrimination amid growing concern that the incoming coalition government will enact changes to allow the use of discriminatory practices,” according to the report.
Other companies and financial institutions, including More Investment House, Altshuler Shaham Financial (TLV:ALTF), and AIG Israel insurance company, made similar statements vowing to oppose discrimination.
Elbit Systems awarded Polish Air Force, Romania MOD contracts
Elbit Systems (NASDAQ:ESLT and TLV:ESLT) secured a $36 million contract to supply four F-16 full mission simulators to the Polish Air Force, Elbit said in a press release last week. Elbit will carry out the contract over a 28-month period.
The company was also awarded a $410 million framework contract to supply seven Watchkeeper X tactical unmanned aircraft systems to the Romanian Ministry of National Defense, Elbit said in a press release.
Elbit said no specific purchase order was made yet under this contract, which has a validity of five years.
AI-powered building design platform BeamUP appoints new CTO
Israeli AI-powered building design platform BeamUP appointed Ran Ziv as its new CTO, the company announced on its LinkedIn page.
Prior to joining BeamUp, Ziv had served as VP Engineering of Ziprecruiter (NYSE:ZIP).
More Capricorn investors join call to overhaul board due to planned merger with NewMed
Several Capricorn Energy (LON:CNE) shareholders seek to oust seven directors, including the CEO and finance chief as they oppose the planned merger with Delek’s NewMed Energy (TLV:NWMD), Reuters reported, citing investment firm Palliser which called for a general meeting to set a vote for a board overhaul.
Palliser argues that the proposed merger undervalues Capricorn.
Capricorn and NewMed Energy seek to merge to create a gas producer focused on Israel and Egypt.
CyberArk adds IDF’s head of cyber defense operations center as CIO
CyberArk (NASDAQ:CYBR) appointed Omer Grossman as Global Chief Information Officer, the company said in a press release.
Grossman joins CyberArk from the Israel Defense Forces (IDF) where he had held different roles in the past 25 years and most recently served as the head of the Cyber Defense Operations Center.
Norwegian sovereign wealth fund may drop Israeli banks
The Norwegian sovereign wealth fund recently approached Israeli banks to discuss whether they grant credit and loans to companies operating beyond the Green Line, news outlet Calcalist reported.
The outlet said the fund is mulling halting investing in Israeli banks that provide services to companies operating beyond the Green Line.
The fund recently offloaded its holdings in the cybersecurity company Cognyte (NASDAQ:CGNT).
The fund’s investments in Israel include Delek Drilling (TLV:NWMD), Bezeq International (TLV:BEZQ), Danel (TLV:DANE), Teva (NYSE:TEVA, TLV:TEVA), Cellcom (TLV:CEL), Partner (NASDAQ:PTNR, TLV:PTNR), banks Leumi (TLV:LUMI), Hapoalim (TLV:POLI), Discount (TLV:DSCT), Mizrahi (TLV:MZTF), and Enlight Renewable Energy (TLV:ENLT).