Since the original 1997 Canada-Israel Free Trade Agreement (CIFTA) came into force, bilateral trade has tripled to more than $1.7 billion and fueled job growth in key Canadian sectors. The recently upgraded CIFTA gives almost limitless possibilities for extending Canadian-Israeli partnerships.
There are currently 18 Israeli-founded companies worth over $1 billion. They include WeWork ($20 billion), Magic Leap ($5 billion), Tanium ($5 billion), Houzz ($4 billion), Compass ($2.2 billion), Elastic ($2 billion), Infinidat ($1.6 billion), ironSource ($1.5 billion), Payoneer ($1.5 billion) and Gett ($1.4 billion)
The German army is to lease seven of Israel Aerospace Industries’ (IAI) newest Heron-TP surveillance drones for nine years. The €1 billion ($1.18 billion) deal includes training, logistics, infrastructure, project management, operational support and maintenance.
There have been 175 Business deals initiated by the UK-Israel Tech Hub since its 2011 launch. Their combined value of £85 million ($113 million) is estimated to boost the UK economy by potentially £800 million ($1.1 billion) and helps Israeli companies to access global markets.
I reported previously on David Wanetick’s book “Solution Nation” describing 62 Israeli companies developing solutions to problems “that threaten to end life itself or materially degrade the quality of life.” This Israel21c article features 10 companies from the book.
Calcalist will lead a delegation of Israeli auto and mobility tech companies to the first-ever Mondial Tech conference at October’s Mondial de l'Automobile (Paris Motor Show). Jean-Claude Girot, Mondial’s general commissary, an ardent Israel supporter, will open the conference.
Global investor and philanthropist Warren Buffet helped secure $80 million in Israel bond purchases at a gathering in Omaha. He spoke of Israel as “one of the most remarkable countries in the world”. Each attendee pledged to buy a minimum of $1 million bonds.
Israel's economy remains robust with the latest figures from the Central Bureau of Statistics showing that Gross Domestic Product grew at an annualized rate of 4.2% in the first quarter of 2018. Most areas of the economy showed huge growth, with exports of software and communications products up 26.8%.
Israeli-founded, US-licensed insurance company Lemonade relies on automation and Artificial Intelligence (AI) to keep costs down. It processes new business and claims in minutes and at the end of the year any surplus funds set aside for claims that is unused gets donated to charity.
The “Living Financially Smarter in Israel” group has listed 70 ways that Israel’s economic and financial system works to benefit its citizens. They include Aliya money, free ulpan, free savings for children, cheap health care and 66 others. Click for more.