Open skies to the Gulf and beyond
Saudi Arabia and Bahrain have formally agreed to allow all aircraft, including Israeli, to use their airspace. Meanwhile, UAE’s Etihad Airways has started selling tickets to Israelis, with direct flights between the UAE and Israel expected within just a few weeks.
Pennsylvania grant for Covid-19 therapy
The US State of Pennsylvania has given a grant of $300,000 to help advance the clinical testing of opaganib from Israel’s RedHill Biopharma (reported previously). The grant is part of the state’s program supporting the rapid advancement of promising novel COVID-19 therapies.
Trade with UAE
Israel signed its first official agreement with the United Arab Emirates. A joint committee was set up to advance cooperation in finances and investments. The UAE formally ended its economic boycott of Israel and signed a decree to build ties in business, tourism, tech, research, energy, and academia.
Funds for tech production
Israel’s Innovation Authority has launched a NIS 40 million ($12 million) a year program to bring advanced manufacturing capabilities to Israeli industry and increase the number of tech firms that make their products in Israel. It will help build new factories and upgrade the technology at existing ones.
New agreements with India
Israeli Foreign Minister Gabi Ashkenazi met on Thursday with 11 ambassadors from the Asia-Pacific region. Bilateral agreements were signed with India to promote culture and cooperate on a water project in India.
Grants for joint Israel-South Korean projects
The Israel Innovation Authority is awarding grants of up to $2 million for projects involving both Israeli and South Korean companies. The projects need to be in the bio arena, including nanorobotics, advanced therapeutics discovery, tissue engineering and bio-electronics.
Japanese investment approaching record levels
The latest IVC Research Center report shows that Japanese investment in Israeli tech firms is unaffected by the coronavirus pandemic. The $853 million for the first half of 2020 compares to $660 million in the first half of 2019 and the record total of $1.5 billion for the whole year.
Expanding trade with Japan – an example
Leading AI chipmaker, Israel’s Hailo (reported previously) has opened a new Japanese subsidiary to support its growing Asia-Pacific client base and expand its global reach. It follows two new Japanese partnerships and a $60 million investment including from Japan’s NEC.
Who is flying to Israel?
You must check if you will be allowed entry, but all these airlines are now flying into Tel Aviv on a regular basis. United, Delta, Lufthansa, Swiss, Ethiopian, WizzAir, Air Canada, Air France, Israir, Belavia, Ryanair, Austrian, Turkish, Aegean, Air Europa, Pegasus, easyJet and Ukraine International.
Nanox becomes a Unicorn
Israel’s Nanox (reported previously) has just raised $165 million in an initial public offering (IPO) on the NASDAQ. The share price of the portable X-Ray devices company rose 21% on their first day of trading. Subsequent rises have brought the company’s valuation to over $1 billion.