Israel Active

I reported previously the completion of the revived Jezreel Valley railway. It is now fully operational, taking 50 minutes from Haifa to Beit She’an. Many travelers remember using the original line, until it was closed 65 years ago.

Israeli startup Zirra uses Artificial Intelligence and machine learning to give investors increased chances of finding a winner. It uses public domain information such as valuation, competition, risk and success factors, employees, founders and insights from human experts.

Jerusalem Mayor Nir Barkat and Transportation Minister Yisrael Katz have laid the cornerstone for the new $364 million, 173-acre Jerusalem Gateway business park. It will include nine 36-floor skyscrapers, business centers, hotels, and 70,000 square meters of leisure and cultural spaces.

Israeli parking payment startup Pango has sold its American operations to US company Parking By Phone.  Pango’s technology and app will now be deployed across the US and Latin America.

The number of passengers on public transportation in Israel rose 7.2% in the first eight months of 2016. Bus usage was up 6.5% whilst railway use increased by 15.2%.  A one percent rise in public transportation use saves the Israeli economy NIS 400 million per year.

The Bank of Israel is to purchase $1.5 billion of foreign currency in 2017 to offset projected sales of Israel’s natural gas windfall.  The purchases are intended to stop the Israeli Shekel from appreciating too much.

Fitch Ratings has upgraded Israel's Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) to "A+" from "A". It reflects the fact that Israel's external balance sheet has continued to strengthen. All three ratings agencies now give Israel an A+ (Fitch, Moody’s and S&P)

Israel’s Netafim has acquired 60% of the Costa Rican irrigation company RyM. It will become part of Netafim Central America and help bolster Netafim’s status in the region, while targeting states such as Panama, Honduras, Nicaragua, Guatemala and El Salvador.

India’s largest airline, Air India, is to launch new flights to connect Tel Aviv and Mumbai, starting in 2017.  Hong Kong airline, Cathay Pacific, will begin flights between Hong Kong and Tel Aviv in March 2017. Both services will compete with El Al and should result in lower fares.

Five Israeli companies have listed shares on the Australian stock exchange since January 2015, including Sky and Space Global (satellite comms) and Weebit Nano (data storage). At least two more plan to launch by end 2016 including Dragontail Systems (restaurant technology).