Israel Active

Israel’s foreign exchange reserves at the end of September 2024 stood at a record $220,377 million - an increase of nearly $3 billion from their level at the end of the previous month. The increase was due to a revaluation that shows confidence in Israel’s currency and economy.

The US has awarded Israel’s Elbit Systems a $127-million follow-on contract to supply Iron Fist Active Protection Systems (APS) for its Bradley infantry fighting vehicles (IFVs). General Dynamics will upgrade the US Army’s Bradley M2A4E1 IFVs over a period of 34 months.

raised ; raised ; raised ; has raised ;

Israeli-founded was acquired by Sweden’s Modern Times Group for up to from Australia’s Aristocrat which bought Plarium in 2017 for around . Finland’s Nokia has Israel’s for an undisclosed sum. Israel’s has Israel’s for several tens of millions of dollars. US-based BitSight has acquired Israel’s for around . US-based Cloudera has acquired Israel’s .

Israeli biodegradable packaging startup W-Cycle (see previously) has partnered with Brazil’s Melhoramentos. W-Cycle will help find new sustainable applications for the high-yield pulp fiber that Melhoramentos manufactures. The contract is estimated to be worth $370K.

Israel’s ParaZero Technologies has received a $187,000 order for its UAV safety systems from a US-based Advanced Air Mobility (AAM) company in the aerial vehicle industry. The order is the end of a long-term project with the client and now large-scale manufacturing and deployment can begin.

Israeli low-cost airline Israir plans to launch direct flights between Israel and New York this winter. Subject to US regulatory approval, it will operate four flights a week to Newark and will end El Al’s temporary monopoly on direct flights between the two countries.

Startup Nation Central reports that Israeli AI startups have grown 173% since 2014, far more than the 12% increase of non-AI startups. Also, Since 2018, Israel’s AI investment share has typically been 3-4 times higher than Europe and the U.S.

In Aug 2024, Israel’s average monthly wage was NIS 13,138, up 5.3% from Aug 2023. Over the same period, inflation rose by 3%, making the average Israeli worker better off. Meanwhile, unemployment is at a 50 year low of 2.7%.