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    Bank Leumi Media Monitoring 02/17/15

    English Language Press

  1. Global Finance declares:"Leumi is the Best Trade Finance Bank in Israel"

    Feb 16, 2015 | Global Finance

    The prestigious magazine Global Finance has recently chosen Leumi as the "Best Trade Finance Bank in Israel", for the fifth consecutive year, according to Bank Leumi.

    2. Swiss German Language Press

  2. Overview: US-Swiss Tax Dispute

    Feb 17, 2015 | Finews

    There was no mention of Bank Leumi or Israeli banks in today’s Swiss media. There was, however, continued coverage of the broader tax dispute.

    3. Israeli Press

  3. Avrahami Buys Eilat Hotel for NIS 10 Million

    Feb 16, 2015 | News1 (Hebrew)

    By Elazar Levin

    The hotel, which was built more than twenty years ago, has been through various owners during its existence. In 2001, Bank Leumi – the hotel’s main creditor – appointed a receiver to administer the hotel’s debts. Avrahami won a tender published by the receiver to purchase the hotel.

    Bank Leumi Media Monitoring 02/17/15

    English Language Press

  1. Global Finance declares:"Leumi is the Best Trade Finance Bank in Israel"

    Feb 16, 2015 | Global Finance

    The prestigious magazine Global Finance has recently chosen Leumi as the "Best Trade Finance Bank in Israel", for the fifth consecutive year, according to Bank Leumi.

    A professional panel of judges selected Bank Leumi based on input from industry analysts, corporate executives and technology experts. Criteria for choosing Leumi included: transaction volume, scope of global coverage, customer service, competitive pricing, and the Bank’s innovative technology.

    Global Finance is a credible source of financial information in 192 countries. For over 25 years, the magazine has been ranking banks and financial institutions around the globe under various categories, based on quantitative and qualitative criteria, according to Bank Leumi.

    Following the award announcement, the Bank commented: "The award granted by Global Finance for the fifth year in a row is yet another recognition of Leumi's premier position in the International Trade Finance market. We attach great importance to providing our customers with comprehensive solutions tailored to their needs, whilst using the most innovative technological platforms in the Israeli banking system".

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    2. Swiss German Language Press

  2. Overview: US-Swiss Tax Dispute

    Feb 17, 2015 | Finews

    There was no mention of Bank Leumi or Israeli banks in today’s Swiss media. There was, however, continued coverage of the broader tax dispute.

    Further investigations by Israeli newspaper Yediot Ahronot into the information regarding the illegal affairs of Geneva-based private bank HSBC, leaked recently by an international research network, throw yet another unpleasant shadow over the activities of Swiss banks, Swiss media note. 

    An unnamed Swiss bank manager has informed Yediot Ahronot that although the practice of secret meetings with clients and the hiding of assets seemingly mostly seized by 2009,  the bank also having began to urge their Israeli clients to report their assets, black money was still being transferred to Hongkong.

     “The hiding of money did not stop, it was just being transferred,” the manager told the Israeli newspaper. “While the Israeli clients received letters from the banks urging them to report their assets, many of them moved their money to Hongkong”. “If the authorities want to know where these assets are hiding, they should look in Hongkong,” he added.

    If the Israeli authorities were to start investigating the connection between Swiss banks and Hongkong, it would be bad news for the Swiss banks, which are already being investigated in Israel, Finews.ch notes. Finews.ch noted in an earlier report, that the tough measures undertaken by the Israel authorities are spreading panic among Israeli tax evaders.

     

    http://www.finews.ch/news/banken/17447-israel-abschleicher-steuerstreit-schweiz-banken-ubs  

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    3. Israeli Press

  3. Avrahami Buys Eilat Hotel for NIS 10 Million

    Feb 16, 2015 | News1 (Hebrew)

    By Elazar Levin

    Real estate entrepreneur Yossi Avrahami has bought the Dortal Sol hotel in Eilat from the hotel’s receiver. The deal was approved recently by the local Magistrates' Courts. Avrahami will pay the receiver NIS 40 million, and an additional NIS 10 million in purchase tax and other costs. Avrahami will invest a further NIS 100 million to renovate and revive the hotel, bringing his total investment to NIS 150 million.

    The hotel, which was built more than twenty years ago, has been through various owners during its existence. In 2001, Bank Leumi – the hotel’s main creditor – appointed a receiver to administer the hotel’s debts. Avrahami won a tender published by the receiver to purchase the hotel.

    Avrahami says that he plans to renovate the 6-storey, 300-room hotel into a high-end hotel and vacation-apartment complex. The renovation will last around eighteen months.

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