Business in Brief

Got a parking ticket? Pay it within two weeks and save 50%. At least that's what will happen if a bill sponsored by MK Eli Aflalo (Kadima ) passes. The Knesset Economic Affairs Committee finished preparing the bill yesterday for its first reading in the plenum, and it is expected to be voted on soon. Committee chairman Ofir Akunis (Likud ), speaking in favor of the bill, commented that when we are late in paying tickets there is a fine, but when we pay early we get nothing. (TheMarker )

Higher insurance prices for motorcycles and scooters seem to be the cause of the steep drop in sales. In April, sales of two-wheelers fell 389% compared to last year. Two importers are trying to fight back and are offering low-cost insurance policies, in conjunction with an insurance agent. The importer of Kymco scooters is offering a full-coverage policy that is 40% cheaper than the standard, and is aimed mostly at young riders. The importer of San Yang bikes also hopes to cut hundreds, if not thousands, of shekels off the price, and allow 12-monthly payments. For example, a 25-year-old without any claims in the past three years who owns a 250 cc bike would now pay NIS 2,892 a year for compulsory insurance instead of NIS 4,197. (Daniel Schmil )

Startup company Commex Technologies is shutting down after burning through $19 million and firing 15 employees. The company was founded in 2005 by Yehuda Zisapel, Zohar Zisapel and Tal Horowitz; it develops systems to improve performance and reduce electricity usage for servers and embedded systems. Vertex Venture Capital, Genesis Partners and the Zisapels were the main investors. The company underwent a large wave of firings in 2008, during which time it laid off a third of its workers. (Guy Grimland )

As long as the euro stays above NIS 4.70, Israeli agricultural exports to Europe will still be profitable, the director general of the Agriculture Ministry said yesterday. "Israeli agricultural exports do not and should not be based on exchange rates. Our agricultural exports are based on quality, efficiency, innovation and competitiveness," Yossi Yishai said. Most of Israel's NIS 4.5 billion in agricultural exports goes to the eurozone, mostly Germany, France, Holland and Belgium. But when the euro dropped to NIS 3.70 in 2004, it was a catastrophe, said Yishai. (Amiram Cohen )

The new Audi A8 was launched in Israel yesterday. Champion Motors, Audi's local importer, presented the company's flagship luxury model to customers - to better compete with the Mercedes S class, BMW's 7 series and the Jaguar XJ. The 4.2 liter V8 engine provides 372 horsepower, but the styling is considered conservative, similar to the family-sized Audi A4. The true differences lie in the gadgets and technology, such as LED headlights, seats that massage passengers and plenty of safety systems. As for the price, the A8 starts at NIS 750,000. Over 10 customers have already ordered one. (Daniel Schmil )