www.bethelfinance.com
Bethel Finance news:
Many motor vehicle importers today raised their prices for 2012, due to the weakening of the shekel against the Japanese yen, the euro, and the US dollar (in which South Korean motor vehicles are priced). For example, the shekel-yen exchange rate reached a 12-month high on Friday.
Ford and Mazda importer Delek Automotive Systems Ltd. (TASE: DLEA) has raised prices of the Mazda 3 and Ford Focus by NIS 3,000. It was followed by Chevrolet and Isuzu importer UMI Ltd., which raised prices for the Chevrolet Cruise, by the same amount to NIS 123,000 for the basic model.
Subaru importer Japanauto Ltd. (TASE:JPNT.B1) has raised the basic price for the Impresa sedan to NIS 125,000 and raised the price for the Liberty B4 sedan by NIS 7,000. Hyundai Israel Ltd. will publish its 2012 price list on Tuesday, which market sources believes will probably show slightly higher prices on key models.
Kia Motors Israel Ltd. has raised the price of its Picanto compact by NIS 700, the price of its Forte sedan by NIS 1,900, and the price of its Sportage by NIS 1,500. Chrylser Israel Ltd. and Toyota Israel Ltd. both plan to raise prices on key models, including the Corolla, which will cost NIS 124,000.
Volkswagen, Audi, Seat, and Skoda importer Champion Motors Ltd. raised prices for the Czech-built Skoda several weeks ago, but said that prices for Volkswagen, Audi, and Seat cars would not be raised at this time, although the issue was under review. Delek Auto, which just acquired BMW importer Kamor Motors Ltd., said that it would not change prices at this time.
Monday, January 2, 2012
Bethel Finance: Record car sales in 2011
www.bethelfinance.com
Bethel Finance news:
New motor vehicles sales reached an all-time high of 226,000 in 2011, according to initial and unofficial figures collated by "Globes", 4.3% more than in 2010.
The slowdown in motor vehicle sales continued in December, with just 14,000 sales. However, importers say that their orders backlog for January-February from leasing companies and individuals is huge. The waiting list for some models is weeks and even months.
Motor vehicle industry sources believe that most buyers are still waiting for the Zelekha committee to publish its recommendations for increasing competition in the motor vehicles import and distribution market, and for clarification on prices. In addition, the Ministry of Finance has not yet published its updated Green Taxes regulations, which will raise prices for many of the most popular models on the market. The new regulations will probably be published in February.
Bethel Finance news:
New motor vehicles sales reached an all-time high of 226,000 in 2011, according to initial and unofficial figures collated by "Globes", 4.3% more than in 2010.
The slowdown in motor vehicle sales continued in December, with just 14,000 sales. However, importers say that their orders backlog for January-February from leasing companies and individuals is huge. The waiting list for some models is weeks and even months.
Motor vehicle industry sources believe that most buyers are still waiting for the Zelekha committee to publish its recommendations for increasing competition in the motor vehicles import and distribution market, and for clarification on prices. In addition, the Ministry of Finance has not yet published its updated Green Taxes regulations, which will raise prices for many of the most popular models on the market. The new regulations will probably be published in February.
Bethel Finance: Hagag Group to build Rothschild Blvd. high-rise
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Bethel Finance news:
Hagag Group Real Estate Development Ltd. (TASE: HGG) will build a 30-storey high-rise on Tel Aviv's Rothschild Boulevard. They acquired the property through the acquisition of 50% of Head Master Ltd. for NIS 18 million from Digal Investment and Holdings Ltd. (TASE: DIGL) by Hagag subsidiary Regency Jerusalem Hotel Ltd. (TASE:REGE-L).
Hagag acquired Regency in December. Head Master's only important asset is a lot on the block between Rothschild Boulevard, Yehuda Halevi Street, Shadal Street, and Yavne Street. Under the Urban Building Plan for the site, approved last month, the lot is zoned for a 30-storey 13,000-square meter building with an 18,250-square meter nine-level underground parking garage.
Hagag plans to build a mixed-use building with office or hotel space on the lower floors, and luxury residences on the upper floors.
Head Master's other properties included a lot at 84 Rothschild Boulevard, which was sold to a buyer's group, and a building slated for preservation on Shadal Street, and a stake in a six-floor office building at 31 Yavne Street.
Hagag's share price was unchanged at NIS 2.38 today, giving a market cap of NIS 104 million.
Bethel Finance news:
Hagag Group Real Estate Development Ltd. (TASE: HGG) will build a 30-storey high-rise on Tel Aviv's Rothschild Boulevard. They acquired the property through the acquisition of 50% of Head Master Ltd. for NIS 18 million from Digal Investment and Holdings Ltd. (TASE: DIGL) by Hagag subsidiary Regency Jerusalem Hotel Ltd. (TASE:REGE-L).
Hagag acquired Regency in December. Head Master's only important asset is a lot on the block between Rothschild Boulevard, Yehuda Halevi Street, Shadal Street, and Yavne Street. Under the Urban Building Plan for the site, approved last month, the lot is zoned for a 30-storey 13,000-square meter building with an 18,250-square meter nine-level underground parking garage.
Hagag plans to build a mixed-use building with office or hotel space on the lower floors, and luxury residences on the upper floors.
Head Master's other properties included a lot at 84 Rothschild Boulevard, which was sold to a buyer's group, and a building slated for preservation on Shadal Street, and a stake in a six-floor office building at 31 Yavne Street.
Hagag's share price was unchanged at NIS 2.38 today, giving a market cap of NIS 104 million.
Bethel Finance:Cabinet approves Dead Sea salt harvesting deal
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Bethel Finance news:
The cabinet today approved the agreement between the Ministry of Finance and Israel Chemicals Ltd. (TASE: ICL) on the NIS 3.8 billion project to rehabilitate the Dead Sea, NIS 3 billion of which the company will finance, and the doubling of the company's royalties on potash sales to 10% above three million tons a year. Minister of Environmental Protection Gilad Erdan and Minister of Tourism Stas Misezhnikov voted against the agreement.
Minister of Finance Yuval Steinitz said, "This is a historic agreement that will correct a wrong of over 20 years. This is worthy social responsibility."
Erdan said in response, "I regret the decision, which is a missed historical opportunity. Israel Chemicals received a unique natural resource, from which its shareholders have made a fortune, while the government's take was very small. Today was a historic opportunity, when the negotiations began, to greatly increase the public's share, which I regret was not seized."
Erdan said that, despite his reservations about the deal, lobbying by the Ministry of Environmental Protection resulted in decisions that will greatly improve the future of the Dead Sea, as well as Israel Chemicals bearing the brunt of the cost of the salt harvesting, and the reopening of discussion on royalties on potash sales.
In six weeks, a team will submit recommendations for the use of the increased royalties, which will be paid into a designated fund that will finance environmental damage caused by industrial operations.
Labor Party chairwoman MK Shelly Yacimovich said in response, "The agreement that the Ministry of Finance signed with Israel Chemicals on royalties is a miserable agreement that leaves the public only the crumbs of the country's natural resources which belong to everyone.
The Society for the Protection of Nature in Israel said in response to the cabinet decision, "SPNI welcomes the approval of the full salt harvesting option. Environmentally, full salt harvesting is much better than all the other options proposed over the years, which is why it should be expedited, because any delay in implementation will cause further environmental degradation."
Bethel Finance news:
The cabinet today approved the agreement between the Ministry of Finance and Israel Chemicals Ltd. (TASE: ICL) on the NIS 3.8 billion project to rehabilitate the Dead Sea, NIS 3 billion of which the company will finance, and the doubling of the company's royalties on potash sales to 10% above three million tons a year. Minister of Environmental Protection Gilad Erdan and Minister of Tourism Stas Misezhnikov voted against the agreement.
Minister of Finance Yuval Steinitz said, "This is a historic agreement that will correct a wrong of over 20 years. This is worthy social responsibility."
Erdan said in response, "I regret the decision, which is a missed historical opportunity. Israel Chemicals received a unique natural resource, from which its shareholders have made a fortune, while the government's take was very small. Today was a historic opportunity, when the negotiations began, to greatly increase the public's share, which I regret was not seized."
Erdan said that, despite his reservations about the deal, lobbying by the Ministry of Environmental Protection resulted in decisions that will greatly improve the future of the Dead Sea, as well as Israel Chemicals bearing the brunt of the cost of the salt harvesting, and the reopening of discussion on royalties on potash sales.
In six weeks, a team will submit recommendations for the use of the increased royalties, which will be paid into a designated fund that will finance environmental damage caused by industrial operations.
Labor Party chairwoman MK Shelly Yacimovich said in response, "The agreement that the Ministry of Finance signed with Israel Chemicals on royalties is a miserable agreement that leaves the public only the crumbs of the country's natural resources which belong to everyone.
The Society for the Protection of Nature in Israel said in response to the cabinet decision, "SPNI welcomes the approval of the full salt harvesting option. Environmentally, full salt harvesting is much better than all the other options proposed over the years, which is why it should be expedited, because any delay in implementation will cause further environmental degradation."
Bethel Finance: Ad solutions co Peer39 raises $2.5m
www.bethelfinance.com
Bethel Finance news:
Semantic advertising solutions company Peer39 has raised $2.5 million according to papers filed with the US Securities Exchange Commission (SEC). Investors in the financing round included Evergreen Venture Partners, Canaan Partners and Dawntreader Ventures.
Peer39, which provides critical data about web pages for buyers and sellers of online advertising, has raised $30 million to date including the latest round, and raised $5.2 million as recently as May 2011.
Peer39 was founded in 2006 by Amiad Solomon and although headquartered in New York has its development center in Petah Tikva.
Bethel Finance news:
Semantic advertising solutions company Peer39 has raised $2.5 million according to papers filed with the US Securities Exchange Commission (SEC). Investors in the financing round included Evergreen Venture Partners, Canaan Partners and Dawntreader Ventures.
Peer39, which provides critical data about web pages for buyers and sellers of online advertising, has raised $30 million to date including the latest round, and raised $5.2 million as recently as May 2011.
Peer39 was founded in 2006 by Amiad Solomon and although headquartered in New York has its development center in Petah Tikva.
Bethel Finance:Israel Natural Gas Lines raises NIS 500m
www.bethelfinance.com
Bethel Finance news:
Israel Natural Gas Lines has successfully raised the NIS 500 million required to build a floating transport terminal near the Hadera coal pier. The government company completed the round of fund raising by issuing institutional bonds in a private placement with 4.8% interest. Demand for the bonds totaled NIS 650 million. Standard & Poor's Maalot Ltd. rated the bonds AA.
Israel Natural Gas Lines chairman Ron Chaimovski said that raising the funds was "complex and not simple and testifies to the great confidence expressed by the capital market in the energy market and Israel Natural Gas Lines in particular."
Bethel Finance news:
Israel Natural Gas Lines has successfully raised the NIS 500 million required to build a floating transport terminal near the Hadera coal pier. The government company completed the round of fund raising by issuing institutional bonds in a private placement with 4.8% interest. Demand for the bonds totaled NIS 650 million. Standard & Poor's Maalot Ltd. rated the bonds AA.
Israel Natural Gas Lines chairman Ron Chaimovski said that raising the funds was "complex and not simple and testifies to the great confidence expressed by the capital market in the energy market and Israel Natural Gas Lines in particular."
Wednesday, December 28, 2011
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