(photo credit: Ariel Jerozolimski)
Bank of Israel comptroller resigns • By ADRIAN FILUT
Bank of Israel Comptroller
Raphael Lankri has resigned after 18 years at the central bank. Lankri is
considered one of the bank’s most controversial as well as one of its most
The Bank of Israel said, “Lankri expressed his wish to
leave several months ago, but the governor and director general asked him to
wait until the bank's new ERP system was installed.” Until 2007, Lankri chaired
the central bank’s workers committee and handled the salary and labor conditions
negotiations with the Finance Ministry. Immediately afterwards, he was appointed
head of human resources, a move that was considered highly unusual. Two years
ago, he ran for the post of director general, but failed to become a finalist.
Hezi Kalo was appointed to the post.Delek Real Estate faces troubles
• By SHIRI HABIB-VALDHORN
European banks are appointing receivers for
more properties owned by Yitzhak Tshuva-controlled Delek Real Estate through its
subsidiary Delek Global Real Estate.
In Germany, a bank has appointed a
receiver for the T Systems Building in Mülheim, and in the UK, the company's
portfolio of car parks faces higher interest rates on its loans following a
downward revaluation. The actions come after the Royal Bank of Scotland plc
appointed a receiver for the UK Marriott Hotels portfolio, in which Delek Global
Real Estate owns a 17% stake.
Delek Global Real Estate owns 60% of the T
Systems office building, and Dorea Investment and Developments owns 20% and has
a NIS 3.8 million exposure to the property. The companies were due to repay the
secured loan against the property in January. When they failed to do so, the
lending agreed not to take proceedings during negotiations. The second extension
expired at the beginning of July.
Teva to face key court hearings
Teva Pharmaceutical Industries will have a busy day in
court on Monday. A US court will hear the company's case against the developers
of generic Copaxone, Teva’s multiple sclerosis treatment. A UK court will hear
Pfizer Inc’s patent infringement case against Teva on Lipitor.
the hearings could affect Teva’s share price.
Teva is suing Mylan,
Momenta Pharmaceuticals, Novartis AG unit Sandoz, and India’s Natco Pharma for
patent infringement of Copaxone. Copaxone has $3 billion in annual
The defendants claim that Teva’s conduct in registering the
patents is inequitable and that it is attempting to win summary judgments. This
hearing is separate from the legal proceedings scheduled for
Sources believe that the claimants will find it difficult to
persuade the court that Teva is engaged in unfair conduct.
highest level since May The TA-25 Index increased to its highest level since May
22 on Sunday, advancing 0.7 percent to 1,268.44 at the 4:30 p.m. close in Tel
Aviv. Investors traded about NIS 888.5 million in shares and convertible
Kamor Motors Ltd. surged the most since at least November
2006 when Bloomberg began tracking the shares, soaring 31% to NIS 16.40. The
controlling shareholders of the importer of BMW vehicles to Israel said they
were in talks to sell their stakes to Delek Automotive Systems Ltd. (DLEA IT)
based on a value of NIS 245 million. Kamor, which owns about 64% of Kamor
Motors, jumped 5.1% to NIS 9.461 shekels, the highest since May
Delek Automotive increased 3.6%, the most in a week, to NIS
Ophir Optronics Ltd. (OPIR IT) advanced the most since at least
February 1996, when Bloomberg began tracking the shares, rising 73% to NIS
25.90. The maker of optical instruments agreed to be acquired by Newport Corp.
for $230 million. • Bloomberg