Salaries up, deficit down, rating unchanged

Some good recent economic statistics as Israel emerges from the pandemic. The average salary and those for hi-tech employees are up around 10% compared to a year ago. The annual deficit is now 11.2% of GDP (end Feb 12.4%). S&P is maintaining its AA-/A-1+ credit rating for Israel.

Avoid the checkout in Germany

Israel’s Trigo (see previously) has partnered the REWE Group, one of Germany’s largest food retail chains, to deliver a “grab-and-go” shopping experience in Cologne. The launch of Trigo’s checkout-free experience in Germany follows its ventures with UK’s Tesco and Israel’s Shufersal.

Investment in Israeli startups (16/5/21)

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Pharmacy employs smart warehouses

Israel’s largest health & beauty retailer Super-Pharm is partnering Israel’s Fabric (see ) to use its small, robotized fulfilment facilities in city centers. It follows a 2019 pilot by Super-Pharm in Tel Aviv, to process online orders for same-day delivery.

Digital banking for freelancers

Israel’s Lili provides digital banking services for small businesses and freelancers in the U.S (see for another). Lili has doubled its number of clients to 200,000 over the past six months. It has just raised $55 million and plans to hire 50 more employees, mostly in Israel.

Hygienic clothing for Spain

Israel’s Polytex Technologies (see previously) has accelerated its marketing in Spain, with new installations in Tarragona, Navarra, Barcelona and Madrid. Polytex’s hands-free automated workwear solution fights contamination, protects workers’ health, cuts costs, and maximizes efficiency.

Elbit buys British Aerospace unit

Israel’s Elbit has acquired Jerusalem-based Rokar International Ltd from the U.S. headquartered subsidiary of BAE (British Aerospace) Systems plc – for approximately $31 million.

Free-wheeling partners

Israel’s REE Automotive has extended its partnership with Toyota subsidiary Hino Motors (see in 2019) to include electric commercial vehicles for transporting people and goods.  REE is also partnering French self-driving systems company Navya to develop a level 4 autonomous vehicle system.

Free trade with South Korea

Israel’s Foreign Minister and Economy Minister are shortly to fly to Seoul to sign Israel’s first Free Trade Agreement (FTA) with an East Asian country and meet Korean business leaders. The FTA cancels customs duty on all Korean imports and will boost Israeli exports to Korea.

A smart industrial zone in Dubai

Israel’s Tefen consultancy group (see ), led by Mally Bitzur-Parnes, is to Project Manage the building of an industrial zone in Dubai where the factories will be operated by robots with almost no human contact. Tefen is also bidding on a tender for the construction of a new airport in Dubai.