Israel Active

Israel’s reserves of foreign currency shot up another $900 million at the end of April to another record - $95.685 billion.  The Bank of Israel is trying to counter the strength of the Shekel.

Israel’s Alon MedTech Ventures incubator, is signing a cooperation agreement with Tsinghua University, one of China’s leading universities. This is the first cooperation agreement of its kind between an Israeli technology incubator and a Chinese entity.

China’s Hainan Airlines has begun operating a direct Beijing – Tel Aviv route three times a week. Hainan Airlines is China’s largest privately-owned airline. Israel is to increase its annual marketing budget for China from 1 million to 15 million shekels.

Israel’s Hype Start-Up Foundation is offering a 100,000 Euro ($113,000) prize to attract startups, entrepreneurs and veteran companies to develop apps and technology that will enhance the Olympic experience for fans, broadcasters, players, and anyone else connected with the games.

Israel’s Frutarom has paid $8.2 million for Germany’s Extrakt Chemie - maker of natural extracts including some used to treat liver diseases, digestive problems and prevent infections.  Frutarom’s fifth acquisition of 2016 is active in Denmark, Switzerland, France, Austria and Australia. Frutarom also has opened a state-of-the-art center for R&D, marketing, and production in Johannesburg, South Africa.

Israel’s Magal S3 has acquired Canada’s Aimetis for around $14 million. Aimetis’ IP video management software will enhance the state-of-the-art perimeter intrusion detection systems developed by Senstar – a subsidiary of Magal.

An Israeli delegation to the Philippines is promoting irrigation technology to cut costs and make water use by farmers more efficient. The companies are Agrotop, Bermad, BioFishency, Eshet Eilon, Metzerplas Cooperative, Netafim, ShneorSeed, and Tefen Flow and Dosing Technologies.

Israel’s TowerJazz will be manufacturing more integrated circuits for Chinese chipmaker 3Peak - thanks to TowerJazz’s new factory in Japan.  TowerJazz produces all of 3Peak’s products.

Israel's Ira Liran cofounded Vita Coco, a globally successful coconut-water business.  The company has 10 manufacturing facilities in eight tropical countries, which altogether utilize two million coconuts daily.

Australia’s New South Wales government has signed an industrial Research & Development agreement with Israel that will team up companies to co-develop and commercialize innovative products.  R&D areas include cyber-security, water management and agricultural technology.