Israel Active

Mashreq Bank in the United Arab Emirates is to use the fraud detection tools of Israel’s ThetaRay (see previously) to secure cross-border payments between financial institutions. Mashreq is the Emirates’ oldest private banking institution and ThetaRay’s first UAE customer.

Israel to begin exporting gas to Egypt via Jordan. The new route, in addition to the existing Ashkelon-El Arish pipeline, will increase current 5 billion cubic meters of gas exports to Egypt by more than 50% It will generate an extra NIS 100 million of annual revenue.

Fitch Ratings has reaffirmed Israel’s A+ rating with a stable outlook. It noted the huge 8.1% increase in GDP for 2021, and a reduced budget deficit from 11.4% of GDP in 2020 to 4.5% in 2021.

Israel's Gross Domestic Product (GDP) grew by 8.1% in 2021, beating the Bank of Israel forecast of 7.5% and the OECD forecast (see previously) of 6.3%. GDP in Q4 was over 16%.

Israel’s Cloudinary has just raised its first funds at a valuation of $2 billion. Cloudinary allows users to “quickly and easily create, manage, and deliver their digital experiences across any browser, device, and bandwidth”. I don’t understand that either, but 9,000 customers and a million developers do.

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Intel is acquiring Israel’s (TowerJazz) for ; Nintex of the US is acquiring Israel’s for ; Israel’s acquired Israel’s for ;

ESRA (English Speaking Residents Association) is hosting Revital Rauchwerger, Head of the Gvahim Entrepreneurship Center. She will be giving a Zoom lecture on Mon 21st Feb entitled “How to Validate Your Business Idea in Israel”.  It is part of their joint “Get it Right in Israel” program.

Maybe not for all, but those with more than £0.5 million in shares, bonds and ETFs may wish to take advantage of the services of Israel’s Sharegain. It says it offers the private individual the ability to emulate large financial companies and lend out their holdings. (Warning – take financial advice first.)

Secretary of State for International Trade, Rt. Hon. Anne-Marie Trevelyan MP, made her first visit to Israel. She enjoyed the “huge opportunity” to deepen ties with a fellow democracy and tech superpower, to boost trade and strengthen cooperation in science and tech.