Securing Chinese cars
Israel’s C2A security (see previously) is a strategic partner for Chinese software company ThunderSoft and will contribute to ThunderSoft’s new vehicle operation system - Dishui. All vehicle manufacturers must include cybersecurity provisions in their new and old vehicles from 2024.
More airlines to resume flights
Air France, Bulgaria Air, Lot (Poland), Blue Bird (Czech Republic), Vueling (Spain), Transavia (France) and TUS (Cyprus) have all announced they are resuming flights to Israel this month. Luftansa, Swiss and Austrian airlines have already resumed.
Energy independent
Mathios Rigas, CEO of energy company Energean, reminded delegates at the Israel Business Conference that Israel is the only energy independent Mediterranean country. Europe relied on Russia and could suffer another fuel price crisis in a cold winter. Israel’s energy prices are stable, even during a war.
Foreign exchange reserves
Israel's foreign exchange reserves rose by $6.468 billion in Dec 23 to end the year at $204.367 billion, close to record levels. The value of the Shekel has risen, despite an expectation that the Shekel would depreciate due to the war and signifies global confidence in Israel’s economy.
$9 billion for army reservists
Israel has announced assistance plan for those serving in the army reserves with an annual cost of NIS 9 billion. It includes grants and payments to combat and non-combat soldiers and family members; compensation for business recovery & lost profits; vacation & maternity leave grants.
Nine innovation centers
Israel is investing NIS 100 million to set up nine innovation centers in regions away from Israel’s center. They will help local entrepreneurs build technical solutions for food tech, agritech, desert tech, aquaculture, biotech, health tech, climate, renewable energy, green building tech, innovation, and AI.
Boycott brings success to Israeli company
The Israeli franchise of Ben & Jerry’s is expanding thanks to its split from its anti-Israel parent. It is to open a bigger factory to expand its product range into ice cream bars and popsicles. CEO Avi Zinger also wants to enlarge the frozen pastry division.
Startup investment – to 7/1/24
Israel’s ();
raised
Exits, takeovers, and mergers – to 7/1/24
US-based Level Access has Israeli AI web accessibility startup for around
Palantir stands with Israel
US tech giant Palantir is to hold its first board meeting of 2024 in Tel Aviv. The company wrote on X last week, “We stand with Israel…Our work in the region has never been more vital. And it will continue.”