Israel Active

Hong Kong’s Finance Minister Paul Chan visited Israel with a delegation of 20. He signed an agreement with Israeli Finance Minister Moshe Kahlon to promote cooperation in the field of Fintech. Other initiatives explored included the areas of Artificial Intelligence and Biotech.

Seattle-based market research company Pitchbook rated Tel Aviv University at number eight (up from nine) in its list of global undergraduate programs that produce venture capital-backed entrepreneurs. Israel’s Technion came 14th and the Hebrew University of Jerusalem was 35th.

PepsiCo is buying Israel’s SodaStream, producer of DIY soda makers, for $3.2 billion. Pepsi says it wants to offer healthier options in SodaStream’s environmentally friendly re-usable bottles. SodaStream will remain based in Israel and is paying large bonuses to all its 3,000 employees. Meanwhile, PepsiCo selected 3 Israeli food-tech startups for its 2018 Nutrition Greenhouse incubator program.

In 2017, Israel's national expenditure on civilian research and development increased by 5% to a record NIS 57.8 billion (almost $16 billion), or 4.5% of Israel's gross domestic product (GDP).

Having just received S&P’s AA- credit rating, Israel’s rating has never dropped in the last 30 years. It has the second fastest growing economy in the OECD over the last decade. Unemployment is at a record low. Israel has over 350 R&D centers for major tech companies.  And much more.

Tourists contribute over NIS 20 billion to the Israeli economy. The 3.6 million tourists in 2017 was 25% higher than 2016 and 2018 is up even more. New projects include Jerusalem’s cable car, the Tel Aviv to Jerusalem train, plus Eilat’s new airport, ecological beach and education center. And in Aug 2018 alone, a record 2.7 million passengers were scheduled to travel through Tel Aviv’s Ben Gurion airport.

Israel's exports to Gulf Arab states were worth nearly $1 billion in 2016, despite their refusal to recognize Israel or have diplomatic relations with it. Israeli exports outstripped those to allies and giant economies such as Russia and Japan.

I reported previously that UK Energy firm Centrica was investing in and acquiring Israeli startups.  It has now participated in a $18 million funding round for Israeli cybersecurity startup Indegy, which provides cybersecurity technology for industrial control systems.

China’s Sichuan Airlines is launching a new direct route connecting Tel Aviv with Chengdu, the capital of the Sichuan province in Southwest China. The twice-weekly service commences on 26th Sept and flight times are just 8 hours 20 minutes. Meanwhile, Delta Air Lines is to operate a second daily direct service from New York’s JFK to Tel Aviv, in Summer 2019.

I reported on previous deals won by Israel’s Gilat Satellite Networks with two Russian satellite operators. Now Gilat will install two SkyEdge II-c gateways for the Yamal 601 Ka satellite, operated by Gazprom Space Systems, to provide broadband services in remote areas of Russia.