Israel Active

Israel’s foreign exchange reserves at the end of July 2011 stood at $77,943 million, an increase of $529 million from last month. The downgrading of US debt has been anticipated.

Another fall in the unemployment figures in May, now running at a new record low of 5.7%. Only 183,000 people are looking for work.

Israel’s agrochemicals maker Makhteshim has opened a new packaging plant in India to serve the company’s growing business in India and other Asian and African markets.

The tourism economy of Eilat will certainly expand when Israel completes the new Eilat International airport. It will be named after Ilan Ramon, the first Israeli astronaut.

For the first time, Israel Aerospace Industries will manufacture the Heron Unmanned Aerial Vehicle for an overseas country. The contract is worth 300 - 400 million Euros.

Israel has signed agreements to share intelligence on money laundering with the US and India. It already has agreements with Russia, Australia, Argentina, Canada, South Africa and most of Europe.

Niran Avisar, a student at Shenkar College of Engineering and Design in Ramat Gan, won the 2011 Diesel Award at the International Talent Support contest in Italy.

Jerusalem design student Sharon Golan has designed a modular shoe that you can re-assemble into 256 different styles. A bargain!

Another 0.2% increase in Israel’s Composite State of the Economy index. Mainly due to improved manufacturing output and revenues from trades and services. Imports were down and exports up.

Israel’s Elbit Imaging Ltd has certainly diversified by its purchase of EDT Retail Trust in the USA.