Latest news with #Bezeq
Yahoo
03-06-2025
- General
- Yahoo
Cross-examination begins in Netanyahu corruption trial
Israeli Prime Minister Benjamin Netanyahu is reportedly facing cross-examination for the first time in his corruption trial on Tuesday. The questioning is being conducted by representatives of the prosecution, according to the Israeli news site ynet. Reports say it began in the morning. Israeli broadcaster Channel 12 said the 75-year-old must answer all questions posed during the cross-examination and is not allowed to consult with his lawyers. The aim is to uncover contradictions and inconsistencies in Netanyahu's statements and to examine the credibility of his account. The Israeli head of government has already had to testify repeatedly in court as a witness in his own case over several months. The trial against him has been going on for more than five years. Netanyahu is charged with fraud, breach of trust and bribery, concerning the granting favours to the telecommunications giant Bezeq while he was communications minister. He is also alleged to have accepted luxury gifts from billionaire friends. Netanyahu has always denied the allegations and said he had been the victim of a "witch hunt." This is the first time that a sitting prime minister has been brought to trial in Israel. The trial could last several years.
Time of India
20-05-2025
- Business
- Time of India
Israel's Bezeq Telecom quarterly profit rises on fibre network gains
TEL AVIV: Bezeq Israel Telecom reported a 7% rise in first-quarter profit on Tuesday, as it continues to benefit from growth in its fibre optics network . Bezeq, Israel's largest telecoms group, said it earned 319 million shekels ($91 million) excluding one-time items in the January to March period, up from 299 million a year earlier. Revenue dipped 0.9% to 2.2 billion shekels. In its core fixed line business excluding home phone services, revenue grew 2.6% on a 36% gain in the number of more lucrative fibre subscribers to 885,000. Similarly, its mobile unit Pelephone showed an 18% rise in 5G subscribers , with the firm posting its highest quarterly revenue in seven years that was also helped by higher income from roaming. Bezeq last week raised its adjusted net profit expectation for 2025 to 1.32 billion shekels from 1.2 billion, while maintaining a forecast that deployment of its fibre-optics network would reach 2.9 million homes this year - up from 2.7 million currently. Chairman Tomer Raved said Bezeq is near the end of a five-year investment cycle and will complete its nationwide fibre rollout in the coming months. "These investments will enable Israel to implement a major national transformation as we enter the AI era across the private, business, and governmental sectors," he said. In 2024, adjusted net profit fell 4.7% to 1.27 billion shekels.
Reuters
20-05-2025
- Business
- Reuters
Israel's Bezeq Telecom quarterly profit rises on fibre network gains
TEL AVIV, May 20 (Reuters) - Bezeq Israel Telecom ( opens new tab reported a 7% rise in first-quarter profit on Tuesday, as it continues to benefit from growth in its fibre optics network. Bezeq, Israel's largest telecoms group, said it earned 319 million shekels ($91 million) excluding one-time items in the January to March period, up from 299 million a year earlier. Revenue dipped 0.9% to 2.2 billion shekels. In its core fixed line business excluding home phone services, revenue grew 2.6% on a 36% gain in the number of more lucrative fibre subscribers to 885,000. Similarly, its mobile unit Pelephone showed an 18% rise in 5G subscribers, with the firm posting its highest quarterly revenue in seven years that was also helped by higher income from roaming. Bezeq last week raised its adjusted net profit expectation for 2025 to 1.32 billion shekels from 1.2 billion, while maintaining a forecast that deployment of its fibre-optics network would reach 2.9 million homes this year - up from 2.7 million currently. Chairman Tomer Raved said Bezeq is near the end of a five-year investment cycle and will complete its nationwide fibre rollout in the coming months. "These investments will enable Israel to implement a major national transformation as we enter the AI era across the private, business, and governmental sectors," he said. In 2024, adjusted net profit fell 4.7% to 1.27 billion shekels. ($1 = 3.5176 shekels)
Al Arabiya
12-05-2025
- Business
- Al Arabiya
Norway wealth fund divests from Israel's Paz Retail and Energy due West Bank activities
Norway's sovereign wealth fund, the world's largest, has sold all of its shares in Israel's Paz Retail and Energy because it owns and operates infrastructure for the supply of fuel to Israeli settlements in the occupied West Bank. The divestment, announced on Sunday, is the second after the fund's ethics watchdog, the Council on Ethics, adopted in August a tougher interpretation of ethics standards for businesses that aid Israel's operations in the occupied Palestinian territories. The first divestment was from Israeli telecoms firm Bezeq, in December. The fund, which owns 1.5 percent of listed shares across 9,000 companies globally, operates under guidelines set by Norway's parliament and is seen as a leader in the environmental, social and governance field. It is the latest decision by a European financial entity to cut back links to Israeli companies or those with ties to the country since the outbreak of the war in Gaza in October 2023. Paz is Israel's largest operator of gas stations and has nine stations in the occupied West Bank. 'By operating infrastructure for the supply of fuel to the Israeli settlements on the West Bank, Paz is contributing to their perpetuation,' the Council on Ethics said in its recommendation to divest. 'The settlements have been established in violation of international law, and their perpetuation constitutes an ongoing violation thereof.' Paz was not immediately available for comment outside of regular business hours. The UN's highest court last year said Israel's occupation of Palestinian territories and settlements there were illegal and should be withdrawn as soon as possible, in a ruling that Tel Aviv rejected as 'fundamentally wrong' and one-sided. Divestments The watchdog makes recommendations to the board of the Norwegian central bank, which has the final say on divestments. The fund has now sold all its stock in the company. It was not immediately clear if more divestments would happen. In March, the fund's watchdog said it had cleared most of the companies it had reviewed over their activities in the occupied Palestinian territories after it launched a fresh review following the outbreak of the Gaza war. The watchdog said at the time that it had made two recommendations to divest - Bezeq in December and now Paz - but did not say whether it had made more recommendations to divest. Overall, the watchdog assessed around 65 companies in the fund's portfolio working in sectors including energy supply, infrastructure construction, travel and tourism and banking, among others.
Reuters
11-05-2025
- Business
- Reuters
Norway wealth fund divests from Israel's Paz Retail and Energy due West Bank activities
OSLO, May 11 (Reuters) - Norway's sovereign wealth fund, the world's largest, has sold all of its shares in Israel's Paz Retail and Energy ( opens new tab because it owns and operates infrastructure for the supply of fuel to Israeli settlements in the occupied West Bank, it said on Sunday. The divestment is the second after the fund's ethics watchdog, the Council on Ethics, adopted in August a tougher interpretation of ethics standards for businesses that aid Israel's operations in the occupied Palestinian territories. The first divestment was from Israeli telecoms firm Bezeq ( opens new tab, in September. The fund, which owns 1.5% of listed shares across 9,000 companies globally, operates under guidelines set by Norway's parliament and is seen as a leader in the environmental, social and governance field. It is the latest decision by a European financial entity to cut back links to Israeli companies or those with ties to the country since the outbreak of the war in Gaza in October 2023.
