Report: Israel’s top firms lack corporate transparency
- Israel Chemicals paid NIS 1.5m to woman harassed by CEO
- Israeli toll road overcharged drivers by $40.9 million
- Jerusalem dips, Tel Aviv suburbs rise in new Israeli city ranking
Israeli firms are characterized by a very low level of corporate transparency, and corporations and other bodies need to take far-reaching steps in order to improve this, according to research by the local branch of Transparency International into 16 of Israel’s largest companies.
Transparency relative to organizational structure is fairly good, but one-quarter of the companies checked did not reveal information on the matter, it stated.
The most troubling figures related to transparency in foreign operations, stated the report. The figures, which took the top 16 companies in the BDI rankings of 2015, placed Bank Hapoalim highest, and Alon Delek lowest, it stated. (Assa Sasson)
Federal Circuit revives Amdocs’ data mediation software patents
A long-running patent fight between network-software rivals Amdocs (Israel) Ltd and Openet Telecom Inc will go at least another round, after a U.S. appeals court overturned a ruling that had invalidated four of Amdocs’ patents.
A divided panel of the U.S. Court of Appeals for the Federal Circuit on Tuesday ruled that Amdocs’ patents on data mediation software, which helps internet service providers track their customers’ usage and bill them for it, included a technological breakthrough that saved them from being invalid. (Reuters)
Tel Aviv Stock Exchange closes with losses
The Tel Aviv Stock Exchange closed with losses in all the leading indexes Wednesday. The blue-chip Tel Aviv-25 Index lost 0.6% to close at 1,388 points — a four-month low — while the broader Tel Aviv-100 Index lost 0.6% as well to close at 1,217 points.
The Banks-5 lost 0.4%, led downward by the First International Bank, which was off 1.8%, and Bank Hapoalim, down 1.5% on high turnover after the news broke that the bank had hushed up accusations of sexual assault against the former CEO.
Oil and gas shares were down 1.75%, and the real estate index closed down 1.1%. Total turnover was 1.5 billion shekels. Notable shares included Nice, down 3.5%, and Opko Health, up 1%. (Omri Zerachovitz)