If you’re a car, it’s difficult to stand out from the 2015 Guangzhou Auto Show, which opened last Friday in the capital city of Guangdong Province.
Israel stocks were higher after the close on Sunday, as gains in the Technology, Biomed and Oil&Gas sectors led shares higher. At the close in Tel Aviv, the TA 25 added 0.53%. The best performers of the session on the TA 25 were Nice (TA:NICE), which rose 3.15% or 750 points to trade at 24590 at the close. Meanwhile, Delek Group (TA:DLEKG) added 3.14% or 3200 points to end at 105000 and Israel Corp (TA:ILCO) was up 2.48% or 2900 points to 120000 in late trade. The worst performers of the session were Bezeq (TA:BEZQ), which fell 2.08% or 15.0 points to trade at 705.0 at the close. Azrieli Group (TA:AZRG) declined 1.59% or 250 points to end at 15430 and Osem (TA:OSEM) was down 1.17% or 88 points to 7411. Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 269 to 74 and 107 ended unchanged. Crude oil for October delivery was up 6.31% or 2.69 to $45.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 4.93% or 2.35 to hit $49.91 a barrel, while the December Gold contract rose 0.92% or 10.30 to trade at $1132.90 a troy ounce. USD/ILS was up 0.46% to 3.9291, while EUR/ILS fell 0.29% to 4.3858. The US Dollar Index was up 0.42% at 96.14.
Israel stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Banking and Financials sectors led shares lower. At the close in Tel Aviv, the TA 25 fell 1.12%. The best performers of the session on the TA 25 were OPKO Health Inc (TA:OPK), which rose 2.54% or 106 points to trade at 4276 at the close. Meanwhile, Bezeq (TA:BEZQ) added 0.64% or 4.7 points to end at 734.6 and Frutarom (TA:FRUT) was up 0.38% or 60 points to 15670 in late trade. The worst performers of the session were Israel Corp (TA:ILCO), which fell 4.30% or 5200 points to trade at 115600 at the close. Delek Drilling LP (TA:DEDRp) declined 4.20% or 62 points to end at 1413 and Delek Group (TA:DLEKG) was down 4.01% or 4300 points to 102900. Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 176 to 148 and 126 ended unchanged. Shares in Israel Corp (TA:ILCO) fell to 5-year lows; down 4.30% or 5200 to 115600. Crude oil for October delivery was down 0.76% or 0.30 to $39.01 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.29% or 0.12 to hit $43.09 a barrel, while the December Gold contract fell 1.49% or 17.00 to trade at $1121.30 a troy ounce. USD/ILS was up 2.09% to 3.9383, while EUR/ILS rose 1.09% to 4.4906. The US Dollar Index was up 0.82% at 94.69.
Israel stocks were lower after the close on Thursday, as losses in the Biomed, Communication and Banking sectors led shares lower. At the close in Tel Aviv, the TA 25 fell 0.30%. The best performers of the session on the TA 25 were Azrieli Group (TA:AZRG), which rose 3.37% or 510 points to trade at 15640 at the close. Meanwhile, ICL Israel Chemicals Ltd (TA:ICL) added 2.76% or 70 points to end at 2608 and Israel Corp (TA:ILCO) was up 2.70% or 3500 points to 133000 in late trade. The worst performers of the session were Teva (TA:TEVA), which fell 2.40% or 650 points to trade at 26460 at the close. Poalim (TA:POLI) declined 2.06% or 44 points to end at 2095 and Nice (TA:NICE) was down 2.04% or 490 points to 23490. Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 172 to 164 and 112 ended unchanged. Crude oil for September delivery was up 0.55% or 0.27 to $49.06 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.81% or 0.43 to hit $53.81 a barrel, while the December Gold contract fell 0.03% or 0.30 to trade at $1093.00 a troy ounce. USD/ILS was up 0.13% to 3.7877, while EUR/ILS fell 0.43% to 4.1373. The US Dollar Index was up 0.47% at 97.68.
Israel stocks were lower after the close on Monday, as losses in the Insurance, Financials and Banking sectors led shares lower. At the close in Tel Aviv, the TA 25 declined 0.46%. The best performers of the session on the TA 25 were Delek Group (TA:DLEKG), which rose 3.42% or 3900 points to trade at 117900 at the close. Meanwhile, Delek Drilling LP (TA:DEDRp) added 2.50% or 43 points to end at 1766 and Ormat Technologies (TA:ORA) was up 1.44% or 210 points to 14760 in late trade. The worst performers of the session were Nice (TA:NICE), which fell 4.26% or 1090 points to trade at 24510 at the close. Israel Corp (TA:ILCO) declined 3.72% or 5400 points to end at 139600 and Discount (TA:DSCT) was down 2.12% or 15.0 points to 694.0. Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 179 to 158 and 118 ended unchanged. Crude oil for July delivery was down 0.10% or 0.06 to $59.66 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.48% or 0.32 to hit $65.69 a barrel, while the August Gold contract rose 0.11% or 1.30 to trade at $1206.20 a troy ounce. USD/ILS was down 0.45% to 3.8701, while EUR/ILS fell 0.79% to 4.2473. The US Dollar Index was up 0.26% at 96.50.
JERUSALEM, Dec 10 (Reuters) - Israeli conglomerate Israel Corp said on Tuesday its chairman Amir Elstein will step down at the end of the year after 3-1/2 years in the post.
JERUSALEM, Dec 1 (Reuters) - Israel Corp, one of Israel's largest holding companies, swung to a loss in the third quarter due to a narrower profit at its chemicals subsidiary and losses at its shipping and refineries units.
Israel Corp could sell a portion of its stake in OPC Rotem to insurance firms and pension funds, Reuters wrote on Thursday. “The company is examining the sale of mature assets including the possibility of a portion of its stake in OPC Rotem,” said Israel Corp. OPC Rotem is a majority-held subsidiary of IC Power, company of the Israel Corp holding. IC Power holds 80% of OPC Rotem, which controls 6% of Israel’s estimated energy demand. OPC Rotem, based in Israel’s Negev desert, is a single shaft combined cycle, operating on natural gas.
Three senators with significant energy policy portfolios introduced legislation yesterday that would encourage more U.S.-Israel collaboration on developing Israel's large offshore natural gas reserves. The bill rolled out by Sens. Mary Landrieu (D-La.), Ron Wyden (D-Ore.) and Lisa Murkowski (R-Alaska) would encourage U.S.-sponsored research programs such as the National Science Foundation, academic institutions and U.S. energy companies to work with Israel on the development of gas fields in the eastern Mediterranean Sea. Israel has an estimated 30 trillion cubic feet of natural gas that, if developed, could supply Israel's expanding energy needs and help supply Jordan and Turkey. Two large gas fields are being explored and developed by Houston-based Noble Energy Inc. and its Israeli partners, Delek Drilling Ltd. Partnership, Avner Oil Exploration LP and Isramco Negev 2 LP. The largest of the offshore formations is called Leviathan and is estimated to hold 16 trillion cubic feet of gas. To put that into perspective, the U.S. economy consumes about 25 trillion cubic feet a year of gas. For the far smaller nation of Israel, analysts say further development of its offshore gas bounty would be an economic boon and a geopolitical gain. "If the Israelis can pull it off, there would be huge security benefits for Israel and its neighbors," said David Goldwyn, a former U.S. State Department global energy affairs coordinator. Still, the prospect of exporting Israeli gas throughout the region or to Asia has been hotly debated within Israel. Mirroring aspects of a similar debate taking place in the United States, Israel's top court and government under Prime Minister Benjamin Netanyahu are considering how much gas should remain in Israel to ensure its energy security and boost domestic industries. Noble has encouraged the government to agree to liquefied natural gas exports.The mid-sized Houston oil and gas explorer has said exporting some of the gas at a higher global price is needed for Leviathan's development to be economical for project investors. If the gas stays in Israel, the state-run utility could be the project's sole supply contract, a prospect that tends to discourage large-scale investments in risky oil and gas exploration. With ongoing turmoil in the Middle East, Israel has had trouble attracting investors among multinational oil and gas companies. A 'new layer of risk ' "The reality is that offshore drilling is the most dangerous sector in oil and gas, and doing it in the Middle East, offshore Israel, adds a whole layer of risk," said Gal Luft, co-director of the Potomac, Md.-based Institute for the Analysis of Global Security. "The big multinationals are not interested in getting into this game at this stage." Goldwyn said that up to this point, the U.S. government has remained at arm's length, offering Israel insights into the potential pros and cons of exporting gas but steering clear of domestic politics. Noble and its Israeli partners are awaiting an Israeli court's decision about gas exports but have continued to press ahead with exploration. Yesterday, the partnership announced it would start drilling in a third field, called Eran, which is off Israel's northern coast. Israel is already getting gas from its offshore Tamar field, after the Israel Electric Corp. signed a 15-year contract last year to buy gas from the Noble-led producers. In statements accompanying the proposal on Capitol Hill, Landrieu talked about the potential for Israel to "achieve energy independence" and her state of Louisiana's potential role in advancing Israel's gas reserves. "The Gulf Coast arguably has the most advanced offshore oil and gas industry in the world, and we are uniquely qualified to lead the effort to help Israel develop this source," she said. The legislation "recognizes energy cooperation between the two countries as a strategic interest of the United States," according to the bill summary. Further, it encourages collaboration on "energy innovation technology, technology transfer, and analysis of geopolitical implications of new natural resource development." The Landrieu-Wyden-Murkowski bid for U.S.-Israel energy cooperation also encourages government-to-government collaboration on developing Israel's environmental management and regulatory best practices. It also allows cooperative agreements between the U.S. Energy Department and Israel and expands existing grant programs such as the Binational Industrial Research and Development Program (BIRD) to include natural gas-focused projects. Joel Kirkland, E&E reporter Republished from EnergyWire with permission. EnergyWire covers the politics and business of unconventional energy. Click here for a free trial Copyright E&E Publishing
JERUSALEM, Aug 29 (Reuters) - Israel Corp, one of Israel's largest holding companies, swung to a loss in the second quarter due to a narrower profit at its chemicals subsidiary and wider loss at its shipping unit.
A company being spun-off from Israel Corp , one of Israel's largest conglomerates, is planning a 2 billion pound listing on the London Stock Exchange, the Sunday Times reported on Sunday. Israel Corp, ...
JERUSALEM, July 7 (Reuters) - A company being spun-off from Israel Corp, one of Israel's largest conglomerates, is planning a 2 billion pound ($2.98 billion) listing on the London Stock Exchange, the Sunday Times reported.