American drug manufactures no longer worry over Teva Pharmaceutical Industries ability to operate without legislative parameters since the Knesset passed patent changes in 2011.
Continue Reading »
Israel has been removed from a U.S. government blacklist of countries that allegedly condone the violation of intellectual property rights, Washington announced over the weekend.
A Teva lab technician. Intellectual property rights are important for Israeli R&D, too. – Photo: Ofer Vaknin
Israel had been on the list for years, in part due to pressure from U.S. drug manufacturers contending that Israeli legislation let Teva Pharmaceutical Industries violate patents. Teva is the world’s largest maker of generic drugs.
Business & Finance News: One of Israel’s top Defense electronics firm reports higher than expected quarterly profit due to sales growth in airborne systems, UAVs & cost cutting measures.
Israeli defense electronics firm Elbit Systems reported higher quarterly profit that beat estimates due to sales growth in airborne systems and unmanned aerial vehicles (UAVs) as well as cost cutting measures.
Elbit earned $1.32 per diluted share excluding one-time items in the third quarter, up from $1.18 a share a year earlier, the company said on Thursday.
Revenue grew to $730.6 million from $677.5 million. Continue Reading »
The Israeli agritech firm Kaiima reports that it is developing a technology that will replicate natural processes to produce stronger, bigger plants for growing & hungry world.
Israeli enterprise Kaiima believes it has found a way to improve crop harvests by replicating and accelerating a natural genetic phenomenon in the laboratory.
Wheat fields in Israel’s Negev Desert. – Photo: Eliyahu Hershkovitz
The future of growing sturdier, sustainable crops for an increasingly hungry world is represented in their rice fields. Most plants evolve via a process called genome doubling, where over time, two species become one with a single genome comprising the strongest features of each parents. Continue Reading »
The appeal for Apple is the company’s advanced body-movement tracking technology bringing 3D sensing & natural interaction such as in interactive living room and mobile devices.
Israeli news and financial newspaper Calcalist reported Sunday that Apple has acquired PrimeSense, a motion-tracking company based in Tel Aviv, in a $345 million deal.
Israeli Uzi Breier, employee of PrimeSense, uses his hands to control a screen in the company offices in Tel Aviv. Photo: Ariel Schalit
PrimeSense is best known for licensing the hardware design and chip used in Microsoft’s Kinect motion-sensing system for the Xbox 360 from 2010. Continue Reading »
The Bank of Israel presents a new set of bills amid accusations of cultural discrimination, that feature the likenesses of only famous Ashkenazi poets.
A stack of shekel bills. – Photo: Moti Kimche
The new bills are to enter circulation at the end of 2013. Their designs feature the likenesses of famous Hebrew poets. Criticism has been aired at the selection of the poets, who are all Ashkenazi Jews.
According to the plan that Bank of Israel Governor Stanley Fischer presented to the cabinet, Shaul Tchernichovsky is to feature on the new NIS 50 note, which will be green. Continue Reading »
In Forbes’ annual survey, the Ofer family topped the list of the wealthiest Israelis. The world’s richest man for the 4th year in a row is Mexico’s Carlos Slim Helu, with assets of about $73 billion.
By Nadan Feldman
The second generation of the Ofer family are the richest Israelis on Forbes’ 2013 list of the world’s billionaires. Together, the magazine said, Idan and Eyal Ofer are worth $12.5 billion.
Idan Ofer – Photo: Moti Kimche
Fifteen other Israelis also made Forbes’ list of the world’s billionaires.
Idan Ofer, who heads the Israel Corporation, is ranked 182 overall on the magazine’s list of the world’s richest people, with assets totaling $6.5 billion. Continue Reading »