Israel Active

IBM Corporation is joining the wave of technology incubator programs with the launch of its first-ever start-up accelerator in Israel. IBM Alpha Zone Accelerator will provide a 24-week program providing free use of IBM's development tools and services up to a value $24,000.

The average income tax rate in Israel is 21% (and falling) compared to the OECD average of 35.9% (and rising). Only three of the 34 OECD countries levy less income tax on its citizens than Israel.

A record 1.3 million passengers passed through Ben-Gurion International Airport on more than 8,200 flights during the Passover holiday; a 30 percent increase from 2013. The increase was partly due to the implementation of the "Open Skies" agreement signed by Israel with the EU.

In the near future, when you buy a Whirlpool refrigerator, Israeli insulation will be keeping your food cool. Israel’s Hanita Coatings produces advanced thermal insulation technology that is up to seven times more effective than conventional plastic foams or fibrous insulation.

Horizon Venture, owned by Hong Kong’s Li Ka-shing is leading a $10 million investment round in Israel’s Tipa. The Israeli start-up has developed beverage packaging that is biodegradable within 180 days.

Israel’s Magisto turns home movies into professional quality video. Amazon’s newly announced Amazon Fire TV promotes Magisto as giving customers “access to their favorite video and photo memories right in their living rooms, displayed in a visually stunning way.”

Turkey’s Turcas Petrol has notified the Istanbul Stock Exchange that its gas subsidiary has initiated negotiations to buy natural gas from Israel's Leviathan field, for domestic customers. Israeli gas would be delivered to Turkey via an undersea pipeline.

Total Singapore-Israel trade in the first quarter of 2014 surged 44.4% year-on-year to S$604.6 million (approx 483 million US dollars). Israel exported approx $300 million worth of goods to Singapore whilst $184 million worth of goods went in the other direction.

The project to land an Israeli satellite on the surface of the moon has received a huge boost. SpaceIL, the nonprofit organization competing for the Google Lunar X Prize has received a $16.4 million donation from the Dr. Miriam & Sheldon G. Adelson Family Foundation.

Due to rising demand, British Airways is to increase its number of weekly flights between Tel Aviv and London from 14 to 17 (around 1000 extra seats). The new schedule will also give travelers from Israel more convenient arrival times as well as shorter connection times.