Tag Archive for economic cooperation

Israeli Startups Added $33.8 Billion to New York’s 2018 Economy

The skills Israelis have learned in the IDF have contributed to creating young risk-taking entrepreneurs, leading some of the world’s largest companies, developing many of the technological advances that improve the lives of people around the world.

By David Lazarus

 

Israeli chutzpah (audacity or sassiness) is leaving its mark on the Big Apple. That is the conclusion of a new report published by the New York – Israel Business Alliance.

According to the report, Israeli-founded companies generated more than $18.6 billion in direct revenue in 2018 alone, and $33.8 billion in benefits to the New York economy. These remarkable numbers are due in most part to the 5 Israeli-founded “unicorns,” or startups valued at over $1 billion. Continue Reading »

Arizona opens trade office in Israel after doubling trade since 2010

Arizona, the ‘Startup State’ signed a memorandum of understanding in 2018 to work closer with the Jewish ‘Startup Nation,’ planning to focus on startups, water-technologies, fintech, hi-tech and the defense & aerospace industries.

By i24NEWS

 

Arizona has approved the establishment of a new trade office in Israel, which is currently listed as the state’s ninth largest trading partner, totaling some $400 million in 2017.

Arizona Governor Doug Ducey approved a $275,000 budget for the new office, with $100,000 of it for initial setup funding, to be allocated in the fiscal year of 2019-2020, which begins in July 1, according to the Arizona Chamber of Commerce & Industry said in a statement. Continue Reading »

Totally unnoticed but immensely profitable, Israel-UAE diamond industry

The diamantaires in the UAE and Israel are keen on keeping their businesses performing well and making a profit, as Israel exported $7.9 billion in diamonds last year.

By Ronen Shnidman

 

If you enter one office among the many in the Dubai Multi Commodities Centre, you will find a mezuzah on the door, much the same as those many Jews place at the entrance to their homes and workplaces. What is this visible symbol of Jewish identity doing in the financial center of the United Arab Emirates, a state that does not have official diplomatic relations with Israel? Well, it is actually just the tip of the iceberg of burgeoning trade ties between the Jewish state and the Persian Gulf state, driven in large by the diamond trade. Continue Reading »

Rambam Hospital in Haifa and Georgia Tech start med-tech partnership

A Georgia Institute of Technology affiliate in Atlanta will host a new medical innovation incubator for local Israeli bio-med and digital health companies.

By Abigail Klein Leichman

 

Rambam Health Care Campus of Haifa and the Global Center for Medical Innovation (GCMI) – an affiliate of the Georgia Institute of Technology — are partnering to start a med-tech incubator for Israeli-based companies in Atlanta.

GCMI, along with Rambam doctors and specialists from various fields, will provide advice and consultation to Israeli companies at the new Biomedical and Digital Health Innovation Center to help them obtain funding, navigate commercialization and regulatory clearance and other necessities for entering the US healthcare market. Continue Reading »

Louisiana Gov. brings economic development delegation to Israel

At the invitation of Gilad Katz, Israel’s consul general to the Southwest United States, Louisiana Gov. John Bel Edwards will  lead a delegation of 2 dozen statewide business leaders to Israel this month to discuss trade prospects in water technologies & management, energy conservation, cybersecurity and more.

By The Associated Press & Israel Hayom Staff

 

Louisiana Governor John Bel Edwards announced Thursday that he will travel to Israel later this month on an economic development trip that includes a meeting with Prime Minister Benjamin Netanyahu.

The Democratic governor said the 24-person delegation will include business leaders and researchers in water management, logistics, higher education and cybersecurity. Continue Reading »

Israeli companies to pump gas to Egypt in $518 million deal

Israel’s Delek Group, Noble Energy are acquiring 40% of the Egypt-Israel gas pipeline with rights to operate it, enabling the Israeli companies to pump gas to Egypt as early as this year, assuming it will still be in demand.

By Lior Gutman

 

After several weeks of frantic negotiations, the Israeli drilling companies Delek Drilling LP, Noble Energy Inc., and the Egyptian East Gas Co. signed a deal to buy a 39% stake in the EMG pipeline to export natural gas to Egypt starting next year, the partners said on Thursday.

Israel’s Energy Minister Steinitz said the deal marked a ‘very important milestone’

Talks about a future Israeli-Egyptian gas deal were reported a few months ago by Calcalist. Continue Reading »

ANALYSIS: Saudi’s attitude changing with grandiose plans for Israel

 

Saudi Arabia’s Crown Prince has a $500 billion plan for the construction of Neom, a new city that includes hydro-agriculture projects, which will be reportedly realized, with Israel’s help.
– With the Saudis moving closer and closer to Israel, the entrenched, uncompromising Palestinian are losing a major supporter and benefactor.

By Yochanan Visser

 

Saudi Crown Prince Mohammed Bin Salman is known for his out of the box thinking and his ambitious sweeping reforms in Saudi Arabia where he has made many enemies during a purge which robbed elites, including members of the royal family, of their illegally obtained wealth last year. Continue Reading »

20 yr-old free trade agreement between Israel, Canada modernized

“Historic” free-trade agreement between Israel and Canada updates previous 1997 deal, aiming to double bilateral trade by eliminating duties for thousands of products, among them, canned goods and fresh produce.
• Israeli economy minister: Canada is one of Israel’s best friends and that this new agreement will bring more competition and reduce the cost of living in Israel.

By Eran Bar-Tal

 

Israel and Canada on Monday signed a modernized free trade agreement in what has been described as a historic step in the countries’ bilateral relations.

Canadian International Trade Minister Francois-Phillippe Champagne and Israeli Economy Minister Eli Cohen signed the revised agreement, officially referred to as the Canada-Israel Free Trade Agreement, at the Montreal’s Federation CJA’s Gelber Conference Center. Continue Reading »

Ryanair drops policy to charge for carry-on luggage only to & from Israel

Low-cost Irish airline says reversal of its ‘pay’ policy reached over Israeli airports’ ‘problematic’ security measures will begin Jan. 20th.

By Ariel Whitman and Israel Hayom Staff

 

Ireland’s low-cost carrier Ryanair on Thursday reversed a controversial policy to charge passengers flying to and from Israel, and only Israel, a fee for carry-on luggage.

Passengers on Ryanair flights to and from Israeli airports will now be allowed the same rights as passengers in other countries to bring two free cabin bags – one wheeled and one small – to the gate, subject to airport security regulations.

A Ryanair spokesperson told Israel Hayom that the reversal will go into effect on Jan. Continue Reading »

Report: PM Modi to seek direct India-Israel flights over Saudi Arabia airspace

Having already inked an impressive series of bilateral agreements between PM Netanyahu and PM Narendra Modi, the Indian leader will now seek to enable Air India to fly over Saudi skies to Israel, thereby cutting flight time by 2 hours, lowering fuel costs and ticket prices that should boost the number of flights and increase tourism.

By Itamar Eichner

 

A major Indian airline may begin operating direct return flights to Israel which will include a navigation route above Saudi Arabia as part of the further consolidation of diplomatic ties between Jerusalem and New Delhi.

PM Netanyahu and PM Modi at India’s India-Israel Business Summit – Photo: אבי אוחיון, לע״מ/Facebook

On Monday, Prime Minister Benjamin Netanyahu, who is currently in the midst of a six-day trip to India, extolled the 25 years of diplomatic relations between Israel and India, boasting that the two sides had already signed nine agreements covering cooperation in cyber security, space and oil and gas exploration. Continue Reading »

Chinese investors start with $520 million investment in Israeli green tech

Acknowledging “a tremendous opportunity that will significantly boost Israel’s economy,” Israel’s Environmental Protection Minister Zeev Elkin, is in China to promote local investment in Israeli clean tech firms.

By Dan Lavie

 

An Israeli delegation headed by Environmental Protection Minister Zeev Elkin is currently in China in an effort to bring together Israeli firms that specialize in green tech and Chinese companies looking to invest hundreds of millions of dollars in the growing industry.

Environmental Protection Minister Zeev Elkin with his Chinese counterpart Li Ganjie – Photo: Israel Ministry of Environmental Protection.

The delegation, organized by the Environmental Protection Ministry, the Economy and Industry Ministry’s Foreign Trade Administration and the Israel Innovation Authority, is comprised of representatives from Israeli clean tech companies. Continue Reading »

Israel moves to deduct uncollectible Palestinian debts from PA’s tax revenue

 

Israel’s Justice Minister is exploring methods to seize Palestinians’ debts to Israelis that currently stands $140 million, which the Palestinian Authority has been unsuccessful in collecting from 20,716 individuals/businesses who own money.
• Leading suggestion: Have it deducted from the $100 million in taxes Israel collects on behalf of the PA each month.

By Shlomo Cesana

 

Justice Minister Ayelet Shaked is exploring the possibility of using the Palestinian Authority’s tax revenue, which Israel collects on the PA’s behalf, to pay off debts owed by Palestinian individuals to Israelis, her office said Thursday.

Israel’s Justice Minister, Ayelet Shaked

Under the 1993 Oslo Accords, a mechanism was set up by which Israel collects taxes — value added tax and customs fees — on behalf of the Palestinian Authority, to the tune of about $100 million a month. Continue Reading »

Trump Envoy Catapults Israeli-Palestinian Water Deal Previously Stalled for Years

Signed by Jordan in 2015, President Trump’s US envoy Jason Greenblatt hailed the Palestinian signing of the historic water/power agreement by saying this deal “will lead to economic improvement in the lives of the Palestinians.”

By HERB KEINON

 

US Special Representative for International Negotiations Jason Greenblatt announced Thursday that Israel and the Palestinians have reached an agreement concerning the long-discussed Red Sea-Dead Sea Canal, which includes the sale of 33 million cubic meters of water to the Palestinian Authority to relieve the water situation there.

Greenblatt, at a press conference with Regional Cooperation Minister Tzahi Hanegbi and PA Water Authority head Mazen Ghuneim, said this agreement and the accord signed Monday between Israel and the PA that will significantly increase the power supply to Jenin are examples of how the two sides can cooperate to improve Palestinian living conditions. Continue Reading »

WATCH: A ‘truly historic visit’ as Netanyahu and Modi tour Jerusalem

 

During his historic visit to Israel, the first for an Indian premier, Prime Minister Narendra Modi is expected to sign a host of agreements with Israel in the fields of defense, technology, water, and agriculture, bringing the two countries ever closer.

By i24NEWS

 

India’s Prime Minister Narendra Modi said his historic visit to Israel – the first Indian premier to do so – celebrates “this ancient bond between both our nations” and lauded “the link between our people [that] dates way back to the Jews in India” during his joint press conference with his Israeli counterpart Benjamin Netanyahu on Tuesday. Continue Reading »

India’s PM Modi to make historic 3-day trip to Israel, bolstering ties & economic cooperation

 

Stepping away from ‘diplomatic protocol’, the Indian leader will not travel to Ramallah to engage the Palestinians, instead will spend his 3 days with PM Netanyahu to advance India’s “wide ranging partnership with Israel, from agriculture cooperation to homeland security.”

By Reuters and Israel Hayom Staff

 

Narendra Modi is scheduled to make the first visit to Israel by an Indian prime minister later this week, in a public embrace of a country that he has long admired for its military and technical expertise but which his predecessors kept at arm’s length.

India has traditionally trodden a careful diplomatic line in the region, analysts say, wary of upsetting Arab states and Iran — upon whom it relies for its vast imports of oil — and its large Muslim minority. Continue Reading »