Israel Active

Several compliments in the latest report from the International Monetary Fund. Timely and decisive measures helped preserve market and financial stability and access to credit. Support to the health system, households and businesses helped soften the economic impact.

As predicted previously, financial ratings agency Standard & Poor’s affirmed their high AA- credit rating for the Jewish State with a stable outlook. S&P cited Israel’s robust financial system and access to capital markets. They also noted Israel’s recent agreements with Arab states.

According to the latest World Economic Forum and World Bank report, Israel spent 4.95% of its Gross Domestic Product (GDP on research and technology in 2018 – the highest in the world. Most went into computer systems, cybersecurity, Artificial Intelligence (AI) and medical research. (Great chart - select Israel to highlight)

Israeli startups ChargeAfter (reported previously) and Personetics (reported previously) are two of the 13 “carefully selected” fintech partners in a Visa Inc. initiative to equip its banking clients in Europe with a suite of new payment technologies.

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Israeli-founded cybersecurity SentinelOne (reported previously) has just raised $267 million, valuing the company at $3 billion. SentinelOne develops artificial intelligence technology for identifying abnormal behavior in enterprise networks and is planning to go public in the US next year.

The Israel Security Business Forum (ISBF) is a new channel in which CEOs from hundreds of Israel’s cybersecurity companies meet and discuss relevant issues. The ISBF provides opportunities to brainstorm ideas and develop new ways to protect systems, data and people.

The non-profit Israel-Asia Center is initiating Israel-Indonesia Futures Program. It will connect young Israeli and Indonesian leaders from different sectors to develop solutions in the spheres of health, food security and education, to address challenges in the post-pandemic era.

Israel’s Arieli Capital, which has setup several innovation centers in Israel, is now involved in establishing an Ocean technology innovation center in the Chinese city of Sanya. Its aim is to support Israeli and international companies focusing on ocean technologies and shipping.

Budget airline flydubai has added Tel Aviv to its routes. In a statement, it said it will operate 14 flights a week, offering a twice-daily service between Dubai International Airport and Tel Aviv Ben Gurion Airport. Flights will start on 26th November.