Israel Active

One month after Iran’s missile assault on Israel, and Israel’s Arrow 3 defense system is now in very high demand. Many countries are negotiating with Israel’s Aerospace Industries. Germany recently bought the system for $3.5 million (see previously).

In another sign of a vibrant, growing economy, in 2026 Carasso Group will start building 3 towers in Tel Aviv, each of 41-48-floors. The 410 housing units will include 144 affordable homes, as well as some 120,000 sq meters of office, commercial, hotel and public space.

At the end of March, Israel’s reserves of foreign currency stood at $213.768 billion, nearly $7 billion more that at the end of Feb. They have since slipped back a little but shows that Israel did not, even when at war, need to use its reserves to stabilize the value of the Shekel.

Israel’s EVR Motors (see previously) has become the first Israeli auto company to set up manufacturing in India. The automated facility will supply coils for approximately 20,000 motors per month, with plans to expand to around 100,000 motors to meet global demand for electric vehicles.

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Alicorn Galaxy is acquiring Israel’s Glassbox (to de-list from TASE) for $150 million. Israel’s Israel’s to bolster its AI-powered customer support solution. Israel’s Austria’s SOLID. Israeli-controlled (Ithaca) has bought the UK North Sea assets of Italy’s Eni UK for . Israel’s has completed the of Brazil’s VMtecnologia. French giant Thales has purchased the Israeli satellite company .

The startups joining Intel’s 9th accelerator group are , Converge Bio, FalkorDB, , Hiveware, , Noma Security, Onfire, RAAAM Memory, and Tonic Security.

Average Israeli wages in Mar 24 have risen 3.5% to over NIS 14,000 per month compared to Mar 23. Hi-tech salaries over the same period rose 13.2% to almost NIS 34,000.

Israel’s economy recovered sharply in the first quarter of 2024. Gross domestic product (GDP) grew an annualized 14.1% in the January to March period.  Growth was led by a rebound in consumer spending and investment, particularly in residential building. 21% more new homes were sold than Q1/23

The TechMod tech park in Modi’in will provide 10,000 jobs in the city that was originally built as a dormitory town between Jerusalem and Tel Aviv. The NIS 1.5 billion cost will encompass 100,000 sqm of office and commercial space, saving time for 75% of residents who currently work elsewhere.