Tivuch Ida

Professional agency with a personal touch


Leumi hi tech loans


Own a small business or want to open a small business? The European Investment Fund and Bank Leumi signed an agreement allowing higher lending to innovative small and medium size businesses .Bank Leumi could provide finance of $100 million to technology companies in Israel . If hi -tech is no longer a leader in the Israeli economic growth maybe this could give it a boost.

 

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Public transportation fares to Tel Aviv to be cut


By Hedy Cohen

GLOBES

Public transportation fares will be slashed as part of an effort by Transportation Minister Yisrael Katz and Finance Minister Moshe Kahlon to contend with the work on the light rail in Tel Aviv and to encourage drivers to leave their cars at home. The projected costs of the plan stand at NIS 120 million.

The planned reform of the system would institute unified pricing for each of the major metropolitan areas: Tel Aviv , Jerusalem, Haifa, and Beersheba. It would radically decrease costs by allowing passengers 90 minutes to transfer between different modes of transportation – bus, train,light rail, and MetroFi rapid bus transit systems without paying an additional charge, as long as they remain within the designated area.

The plan also calls for significantly reducing the prices of monthly hybrid passes that allow unlimited rides on both trains and buses throughout the metropolitan area.

For example, under the new regulations, a monthly pass for rail and bus use between Tel Aviv and Rishon Lezion would cost NIS 252 instead of NIS 400, a decrease of 37 percent. Between Tel Aviv and Rehovot, the cost of the pass would fall to NIS 286 from NIS 491, down 42%, while commuters making the journey between Tel Aviv an Netanya would save 30%.

 


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Amdocs Israel seeks new local headquarters By Shomit Tsur


Globes

Technology company Amdocs Ltd., which occupies a giant 75,000- square-meter complex at the Ra’anana Junction, on Sunday notified its employees that it is looking for a new location in the central region. The company’s lease with REIT 1 Ltd., the owner of the company’s current site, expires at the end of 2019.

In its announcement to the employees, company management explained the planned move by saying that it wished to improve their working environment. Among the alternatives under consideration by the company are the purchase of a new office building to be constructed for it, renting a new office building or renovation and adaptation of the existing complex to the company’s needs.For this purpose, Amdocs has established a task force, which has already begun looking for locations.

“The search will be in the central and Sharon regions,” Amdocs management wrote in its letter to the employees.”The main guiding criteria are a better experience for the employees, including better transportation, suitable facilities in the area, business, cost and other operation considerations.”

Assuming that Amdocs does move its offices from the current location in Ra’anana, REIT1 will have to find a new large tenant. This large size of the areas to be vacated will make this a difficult task. Amdocs Israel has been in the hi-tech park at the Ra’anana Junction since 1996 and currently occupies 75,000 sq.m., not including parking, out  of 82,000 sq.m.  in the entire complex.

One of the other tenants in the office complex is Microsoft. According to REIT1’s  reports, Amdocs paid NIS 38.2 million in 2014 for its facilities in the Ra’anana site. REIT1 owns 60 percent of the compound, with the rest owned by S.A.N. Centers, Ganai Shefa Building & Investment and Sunflower Sustainable Investments Ltd.

Amdocs Israel is a subsidiary of the global Amdocs company and has 4,500 employees, mostly in the Ra’anana center, with the rest in other development centers in Haifa, Sderot and Nazareth.

“The search will be in the central and Sharon regions,”