Massive Chinese incubator fund
Chinese tech giant Kuang-Chi is to launch a $300-million global fund and incubator in Israel. It intends to invest in the best Israeli companies in the fields of biometrics, communications, robotics, and AR, and to take them to the next level commercially and technologically.
An all-women mission to Israel
The first all-women Australia-Israel Chamber of Commerce (AICC) mission to Israel is led by Lucy Turnbull, Australia’s first lady and a respected company director in her own right. The 36 participants want to learn about smart cities, Israel’s ecosystem and its innovation culture.
Air Europa increases Israel flights
Air Europa, Spain’s third largest airline, is adding an additional weekly flight to the three it operates on its Tel Aviv-Madrid route. It is also adding follow-on routes from Madrid to Colombia, Argentina and Ecuador, starting in late December. It is also launching a price sale to Spain and South America.
£50 million for TAU School of Management
UK businessman Jeremy Coller has donated $50 million to the Tel Aviv University School of Management, which will be renamed after the entrepreneur. The donation is earmarked for research and development, study programs, and teaching.
Israel’s first on-line shopping mall
BIG Shopping Centers announced that in early 2017 it will launch BIG+, Israel’s first online shopping platform. It will offer apparel, home products, travel goods, electronics, plus international brands not currently sold directly to the Israeli consumer.
Workspace for out-of-town entrepreneurs
Outside of Tel Aviv, startups also need space to develop. Powerball in Ness Ziona and In-Vent in Haifa provide facilities and services for those who don’t want to “schlep” to Tel Aviv’s startup hub.
Debt to GDP falls again
For the sixth consecutive year, Israel lowered the ratio of Government debt in proportion to GDP – this time by 2.1%. It also reduced interest paid on the debt by NIS 600 million.
Israeli chocolate for China
Israeli chocolatier Max Brenner opened its first branch in China. The Beijing branch, located at THE PLACE mall in the city’s financial district, is the latest of 65 worldwide storefronts. The company also recently opened the doors of its fifth Japanese branch, near Tokyo Disneyland.
Intel spends $1 billion in Israel annually
Global microprocessor manufacturer Intel spends an annual average of $1 billion on procurement from 1,000 different Israeli suppliers. The company has spent $10 billion on procurement in the Israeli market over the past decade.
Seven million barrels of oil
The latest estimate of Israel’s Hatrurim oil reservoir, north of the Dead Sea, is 7 million barrels – worth around $321 million at today’s prices.