An unpaid cellphone bill of NIS 35,000 shut down the Jerusalem light rail system for about an hour yesterday afternoon. The Mirs mobile provider switched off the communications network for the rail cars, saying it had issued several warnings to railway operator CityPass before taking the measure. CityPass decided to shut down the system, citing safety considerations, after conductors lost their communications link to the control center. Mir said it did not expect its move to shut down train service in the capital. CityPass, meanwhile, said it was Alstom, a former partner in CityPass, that had racked up the debt. (Daniel Schmil )
ECI Telecom to lay off 200 workersECI Telecom yesterday announced it will fire 100 workers in Petah Tikva and 100 more in its offices overseas. The firm said the dismissals will come from all departments, and are part of efficiency measures. The company also said it may move part of its operations to countries with lower costs, such as China and India. ECI has 1,600 employees in Israel and 1,000 abroad. The round of layoffs announced yesterday will be the third in the last year and a half. ECI also announced it was continuing a policy of pay cuts that require workers to take at least one vacation day a month. The Histadrut labor federation said it will fight the layoffs on behalf of ECI's few remaining unionized workers. (Haim Bior )
Fischer admits jobless figures are a mystery"As of now, we still do not completely understand the significance of the new unemployment figures and the reasons for the rise in the measured unemployment," Bank of Israel Governor Stanley Fischer told the Knesset Finance Committee yesterday in reference to the recent change in the method used to measure unemployment. Fischer also addressed the European debt crisis, saying that while Israel could weather a mild recession in Europe, "if there is a financial crisis and countries start to leave the euro bloc, we don't know what will happen and it is difficult to imagine all the scenarios. I don't think that is the most reasonable possibility, but it is certainly possible," Fischer said. He noted that housing prices in Israel have stopped rising and said, with regard to the country's defense budget for 2012, "It is beginning to be interesting, or complicated." (Zvi Zrahiya )
Nana 10 website a target for acquisitionThe Mako website, which is owned by Channel 2 franchisee Keshet, is in negotiations to buy the Nana 10 news and entertainment website. At the same time, mass daily Yedioth Ahronoth's Ynet website is also in discussions to buy Nana 10. In 2009 Nana 10 was valued at between NIS 12 million and NIS 15, but a consulting firm pegged its value at NIS 18.6 million the following year. Since 2008 Nana 10 has been jointly owned by the Cellcom cellular operator and Channel 10 television, but the partners have long been known to have uneasy relations. The site has been ranked fourth among Israeli Internet users, with an exposure rate of more than 30%. (Nati Tucker )
Delta Galil buys German underwear firmIsraeli underwear maker Delta Galil yesterday announced it had inked an agreement to buy the German underwear manufacturer Schiesser for 69 million euros. The deal is expected to be consummated in June. Because Schiesser is in receivership creditors will take 58 million euros of the purchase price. Schiesser is Germany's leading underwear brand, with plants in the Czech Republic and Slovakia. Delta Galil will fund the acquisition out of its own pocket. The company said it was committed to keeping Schiesser's workforce and management in place. Together with Schiesser, Delta Galil will reach group sales of $900 million, Delta Galil Chief Executive Isaac Dabah said. (Lior Zeno and Vadim Sviderski )
