News in Brief

The Delek Group controlled by Yitzhak Tshuva will try to raise hundreds of millions of shekels through an extension of its B15 bond series and the issue of a new B18 series, in a institutional investors auction to be held today. Midroog reconfirmed its rating for Delek bonds at A1, with a stable outlook, enabling Delek to raise up to NIS 800 million. The final size of the issue will be fixed based on interest rates that will be set during the auction. Delek will extend its B15 series, which falls due for redemption in three equal annual payments in 2015-2017. The non-CPI unlinked bond has an average lifetime of 5.43 years, and is traded on a yield of 7.5%. The new B18 series is linked to the CPI, redeemable in six equal annual payments in 2016-2017 and 2019-2022. (Michael Rochvarger)

The Clean Air Law that requires car importers to publicize air pollution and fuel consumption data for all vehicles will come into effect this Friday, October 30. The data must constitute no less than 7% of advertisements and must also be included in catalogs in salesrooms. In addition to environmental concerns, there are economic benefits to the new regulations. Consumers will be made aware of the vehicle's pollution group and whether this qualifies it for tax benefits. The law was originally introduced as a private member's bill by then Likud MK Gilad Erdan. He is now the environmental protection minister. (Daniel Schmil)

Arava farmers intervened physically yesterday when Oz immigration unit inspectors raided a farm on Moshav Hatzeva in the early morning hours and arrested two Thai tomato pickers. The inspectors said the farmer did not have a license to employ the workers. The farmer responded that they are his only employees, and without them, he cannot harvest his hothouse tomatoes. In response to the arrest, local farmers blocked the moshav's entrances and exits, and surrounded the inspectors' vehicles, preventing them from leaving with the workers. After hours of fruitless negotiations, the workers were released and the inspectors were allowed to leave. (Amiram Cohen)