Eilat to Athens flights to resume
From Feb 7, Israeli airline Israir is to operate twice-weekly direct flights between Athens and Israel’s Ramon airport, 11 miles north of Eilat. It is expected to add additional routes to Europe, taking tourists straight to the Red Sea resort city without flying via Tel Aviv’s Ben Gurion airport.
Foreign investors bet strong on Israeli tech
OurCrowd founder and CEO Jon Medved gave an upbeat assessment on how foreign markets are reacting to Israel’s ongoing war and the impending change of American leadership. He expected Israel to outperform its global peers in cybersecurity and defense technology.
Inflation rate falls
Israel’s Consumer Price Index (CPI) fell 0.4% in Nov, more than analysts expected. Israel’s annual inflation rate for the 12 months to Nov fell to 3.4% from 3.5% in Oct. mostly due to decreases in the price of fresh fruit and vegetables. Meanwhile, Israel’s reserves of foreign currency rose by over $1 billion.
$10 billion raised in 2024
Israeli high-tech companies raised $9.58 billion in 2024 across 443 fundraising rounds. This marks a 38% increase in capital raised and a 13% increase in the number of rounds compared to 2023 when $6.9 billion was raised.
Six airlines resume flights
Six airlines are resuming their services to Tel Aviv: Hungarian low-cost airline Wizz Air, Romanian low-cost airline Biz, Polish airline Lot, Spanish carrier Air Europe, Air Baltic; and Bulgaria Air. Biz began its inaugural Israel route in August.
IAI accelerates three more US startups
Israel Aerospace Industries has selected three US technology startups (Dalus, Lola Vision & Nefeli Air) for its second North American CATALYST program.
Exits, mergers & acquisitions – to 5/1/25
Israel’s has acquired Germany’s Sentronics Metrology for approximately .
Vegan meat in LA and NYC
The cultured, non-GMO soy protein-based products of Israel’s Chunk Foods (see previously) are now available in independent grocers in Los Angeles and New York City. Chunk Foods won Plant Based Meat Product of the Year at the Fourth Annual AgTech Breakthrough Awards.
16.000 Indian construction workers
16,000 workers have come from India to work in Israel’s building sector over the past year – and Israel has plans to bring thousands more. Indian workers often can make three times what they would back in India.