Israel Active

Following successful international borrowing, Israel’s reserves of foreign currency increased by nearly $7.6 billion in April to end the month at a new record of $133.5 billion.

Israel’s first-ever public issue bond on Asian markets raised $5 billion. The issue saw high demand from some 300 high-quality investors from over 30 countries. Israel’s Accountant General said it testified to the confidence in Israel’s economy and its response to the corona crisis.

The European Fund for Strategic Investments (EFSI) advancing Israel’s Pluristem 50 million Euros to fund 50% of its pioneering regenerative PLX cell therapy platform. Pluristem’s treatment has saved six critically ill Israeli coronavirus patients .

Savvy Israeli designers have spotted a marketing opportunity – trendy face masks. They have stopped producing expensive wedding dresses that are inappropriate for low-key events. But the elegant masks are very popular with the public who prefer to feel fabric rather than paper against their face.

CTech has produced a list of Israel’s 50 most promising startups that they believe will survive and thrive despite the coronavirus turmoil. They cover Deep tech, Entertainment & media, Unicorns, Logistics & e-Commerce, Cyber & cybersecurity, and Medical technology.

Israel’s Camtek, manufacturer of metrology and inspection equipment, has received an $8 million order for multiple EagleT-i systems, its advanced inspection system. The purchaser, a tier-one global CMOS Image Sensor manufacturer, highlights strong market demand for Camtek’s products.

In this week’s investments, code developer raised ; air-cleaning raised ; (facial recognition ) raised , and digital microscope maker raised .

Israel’s Energy Ministry has proposed a NIS 25 billion raft of mainly privately funded energy and infrastructure projects to help kickstart the post-coronavirus economy. At least half the projects would involve increasing power from renewable sources.

The Israel government has granted NIS 10 million to 84 research projects to combat COVID-19.  18 of these grants (20%) were awarded to projects of the University of Haifa.

Amazingly, Fitch Ratings has affirmed Israel's long-term foreign-currency issuer default rating (IDR) at 'A+' with a stable outlook. It highlights strong external finances, a diversified high value-added economy and solid institutional strength. It projects a rebound in 2021, with GDP growing by 5%.