Israel's exports to Gulf Arab states were worth nearly $1 billion in 2016, despite their refusal to recognize Israel or have diplomatic relations with it. Israeli exports outstripped those to allies and giant economies such as Russia and Japan.
I reported previously that UK Energy firm Centrica was investing in and acquiring Israeli startups. It has now participated in a $18 million funding round for Israeli cybersecurity startup Indegy, which provides cybersecurity technology for industrial control systems.
China’s Sichuan Airlines is launching a new direct route connecting Tel Aviv with Chengdu, the capital of the Sichuan province in Southwest China. The twice-weekly service commences on 26th Sept and flight times are just 8 hours 20 minutes. Meanwhile, Delta Air Lines is to operate a second daily direct service from New York’s JFK to Tel Aviv, in Summer 2019.
I reported on previous deals won by Israel’s Gilat Satellite Networks with two Russian satellite operators. Now Gilat will install two SkyEdge II-c gateways for the Yamal 601 Ka satellite, operated by Gazprom Space Systems, to provide broadband services in remote areas of Russia.
What a contrast to the BBC’s normal biased anti-Israel reporting. BBC World’s “Talking Business” program included this feature by Jonathan Josephs. It highlights the UK-Israel Tech Hub as the ideal model to expand UK hi-tech business and create jobs post Brexit.
I reported previously on Israel’s Behalf which provides short-term loans having used hi-tech to decide on a company’s risk profile. Now financial giant Visa is partnering Behalf to “support small business growth”. Behalf’s clients receive a tokenized Visa Virtual Card.
Low cost Hungarian airline Wizz Air is commencing twice-weekly flights from November between Eilat and both Budapest and Sofia. Wizz already operates services from Eilat to London, Vienna, Bucharest, Riga, and Warsaw.
Israel’s Gett makes 100 million rides a year, mostly with its London and NYC taxis. This generates around $1 billion in mobility services, according to Stockholm-listed venture capital firm Vostok New Ventures Ltd in its latest financial report.
Warren Buffett’s Berkshire Hathaway Inc. has upped its stake in Israeli biotech Teva by another 6.7%. Berkshire Hathaway now owns nearly $1 billion of Teva shares.
Good news for backpackers. Latin American hostel and co-working company Selina and Israel’s Ampa Real Estate have been scouting locations in Tel Aviv, Jerusalem, Haifa and the southern Negev desert. Selina intends to open several hostels with a combined capacity of 5,000-7,000 beds within five years.