Business in Brief

Consumer prices dropped 0.4% in November; Israel Hayom buys Maariv printing press.

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Consumer prices dropped 0.4% in November

The consumer price index dropped 0.4% last month, the Central Bureau of Statistics reported Sunday, putting it at the lower end of what economists had been forecasting. That put inflation over the past 12 months at 1.9%, just below the midpoint of the government’s inflation target. Among the factors contributing to the decline in prices was a 3.5% drop if fresh produce, reversing a sharp rise in October, as well as seasonal dips in housing and apparel prices. The statistics bureau said prices for home sales in September-October were 0.1% less than in the two previous months. However, they were up 8.6% from a year earlier, it said. (Moti Bassok)

Israel Hayom buys Maariv printing press

Israel Hayom, the giveaway daily newspaper published by Sheldon Adelson, said Sunday it had acquired the printing facilities of the Maariv daily from businessman Amos Maimon. Neither side would reveal details of the sale, but industry estimates are that Israel Hayom paid between 70 million and 90 million shekels. Maariv stopped using the press after it was sold when the Maariv publishing group collapsed, and the facility, located in the Tel Aviv suburb of Bat Yam, has since been shuttered. Israel Hayom plans to hire 90 to 100 printers and eventually move some of its editorial and business operations to the facility. “The printing press will give the newspaper independence and flexibility going forward,” Israel Hayom said. (Nati Tucker)

Tefron signs with Sri Lankan company

The textile maker Tefron said Sunday it has signed a memorandum of understanding with Sri Lanka’s Bandix Lanka to form a joint venture to make and market apparel using the Israeli company’s Body-Size technology. The 50-50 joint venture, part of Tefron’s recovery strategy, will sell its products in Sri Lanka and/or India. Tefron will supply up to 50 knitting machines and related equipment and Bandix, Sri Lanka’s biggest apparel maker, will supply facilities from which the joint venture will operate. Tefron’s Body-Size technology is used to make seamless garments, including intimate apparel, swimwear and sportswear. The company was hit hard after 2008 by the global financial crisis and growing competition from the Far East, but has since recovered. (Eran Azran)

Casino magnate Sheldon Adelson, Credit: AP