Israeli-Chinese cars
Qoros Auto, the joint car venture of Israel Corporation and China’s Chery Automobile, will have four ranges of cars to accompany the Qoros 3 - the company's first model. The commercial launch is scheduled for later this year.
OECD praises Israel’s economic growth
"Israel's output growth remains relatively strong, unemployment is at historically low levels, its high-tech sector continues to attract international admiration, and new off-shore gas fields have come on stream," The Organization for Economic Cooperation and Development said in the executive summary of its 2013 Israel Economic Survey.
Israeli deficit shrinks further
The cumulative deficit for the last 12 months dropped sharply in November and totaled NIS 31.7 billion, 3% of GDP - much lower than the original target of 4.65% of GDP.
First European showroom for Israeli-Chinese cars
Car manufacturer Qoros Auto Co. Ltd., a joint venture controlled by Israel Corporation and China's Chery Automobile Co. Ltd. has officially opened its first showroom in Europe in the Slovakian capital Bratislava. The price of the Qoros 1.6 turbo will be 20,960 Euros.
Flying to Israel will be “easy-er” (and cheaper)
UK low-cost airline easyJet is introducing three new routes to and from Tel Aviv’s Ben Gurion airport. They are London Gatwick (three flights a week starting April), Milan Malpensa (four times a week starting March) and Berlin (3 times a week starting February).
Israel’s Pillcam is swallowed up
Irish medical devices company Covidien has bought Israel’s Given Imaging, manufacturer of the unique digestible Pillcam colon diagnosis camera, for a reported $860 million.
Israel’s Frutarom is flavor of the month
One of Israel’s biggest companies, Frutarom has just purchased US-based flavor manufacturer Hagelin & Co for $52.4 million. It follows Frutarom’s recent acquisitions of Russia’s Protein Technologies Ingredients for $50.3 million and Guatemala’s Aroma SA for $12.5 million.
Unemployment falls to 5%
Another all-time low in Israel’s jobless figures.
Unemployment falls to 5
%. Israel’s unemployment rate fell to 5.9% in October from 6% in September. The number of Israelis participating in the work force rose to 3,704,000, up 0.4% from the previous month.
All-time record for currency reserves
The total of Israel’s foreign currency reserves reached a new record of £80,589 in November.