The General Motors Technical Center in Israel is expanding its activities in the electric and autonomous vehicle market. To house its 600 staff, it is paying NIS 300 million to rent office space in Herzliya for the next 10 years. … Continue reading →

Israeli startup Voyage81 has been acquired by US-based cosmetics company Il Makiage. Voyage81’s AI-based hyperspectral imaging technology for smartphones will be used by Il Makiage to enhance its own PowerMatch algorithm for matching a consumer’s skin tone to the company’s … Continue reading →

Gulf Air, Bahrain’s national airline, is launching twice-weekly flights to Tel Aviv beginning 30 Sep. And EgyptAir the national airline of Egypt, is reportedly going to operate direct flights between Cairo and Tel Aviv from early Oct. https://www.israelnationalnews.com/News/News.aspx/313238 https://www.timesofisrael.com/egyptair-to-launch-direct-tel-aviv-cairo-flights-next-month/

Israel has officially inaugurated the new port terminal in Haifa Bay (see here previously).  It aims to fuel competition, decrease import costs, and remove handling delays that have been costing some NIS 700 million every month.  It will hopefully be … Continue reading →

Job vacancies at the 240 portfolio companies of Israel’s OurCrowd soared by 300% in Q2 2021. Nearly two-thirds of the startups planned to recruit more staff in the remainder of 2021. 80% had implemented hybrid working models (home and office). … Continue reading →

During August, Israel’s foreign currency reserves rose by over $4 billion to almost $206 billion. Israel’s cumulative fiscal deficit fell from 9.2% at end July (see here previously), to 8% at the end of August. https://www.boi.org.il/en/NewsAndPublications/PressReleases/Pages/05-09-21.aspx https://en.globes.co.il/en/article-israels-fiscal-deficit-narrows-to-8-1001384647