Bank of Israel predicts continued growth and stability; Psagot Winery in Samaria exports wine to China; remarkable growth for 2 Israeli startups; and much more!
By Michael Ordman
ECONOMY & BUSINESS
Growth, inflation, jobs, exports – all good news
The Bank of Israel has just released its latest “Overview of economic developments and monetary policy in Israel”. It predicts continued growth at around 3%, inflation around 1%, stable, full employment and expanding exports of services.
Israeli wine from Samaria to China
The Psagot Winery in Samaria has begun exporting and marketing Israeli wine to the city of Guangzhou in southern China, with a population of over 13 million people. Psagot Winery produces more than 350,000 bottles annually of which 70% is exported.
Phenomenal growth at two Israeli startups
The feature connecting two quite different Israeli startups is their growth rate – a huge 350%. I reported on Verbit’s subtitling in May (see here) and (briefly) Cato Networks more recently (see here). https://www.catonetworks.com/news/cato-networks-secures-55-million-investment-as-bookings-accelerate-year-over-year/ https://verbit.ai/about-us/
Amdocs is big
Israel’s Amdocs has just announced its quarterly results to the 5th Feb 2019. During the previous 3 months it earned $1.01 billion in revenue – up 3.5% on the same period in 2018.
Agenda for OurCrowd summit
Israeli-founded global investment platform OurCrowd has released the agenda of its 7th Mar 2019 Jerusalem Global Investor Summit, entitled “Startups: Making a Global Impact”.
New German factory for Israeli smart glass
I reported previously (see here)on Israel’s Gauzy and its Liquid Crystal Glass (LCG). Light-control film technology allows users to control whether glass or plastic products are clear or opaque. Gauzy has one factory in Tel Aviv and will soon open a second in Stuttgart, Germany.
Fuel cells go into mass-production
Due to strong global demand, Israel’s GenCell Energy is to mass-produce its fuel cell generators. GenCell’s target is to increase production to 5,000 units per year from the current 100. US electronics manufacturer Flex will partner GenCell, integrating cells into generators at their Israeli factories.
Streaming movies around the world
I reported previously (Feb 2016) on Israel’s Vonetize and its movie streaming service. Vonetize has now over 11 million users in 59 countries. Its latest deal is with Brazilian TV network Rádio e Televisão Record S.A. https://www.prnewswire.com/il/news-releases/vonetize-inks-deal-with-recordtv-to-distribute-its-smartvod-service-in-brazil-300785469.html http://site.vonetize.com/
Security for Mexico’s largest bank
I reported previously (2nd Dec) on Israel’s Guardicore. The cybersecurity startup has just won a contract to protect the data center of Banco del Bajio (BanBajio), one of Mexico’s largest commercial banks. https://www.prnewswire.com/news-releases/banco-del-bajio-sa-selects-guardicore-centra-security-platform-to-protect-data-center-300784984.html
Whole food algae product launched
I’ve reported previously (see here) on Israeli-based startup Algatech and the trials of its AstaPure product. Algatech has just launched AstaPure Arava, suitable to be integrated into multiple food products. AstaPure’s active ingredient astaxanthin can benefit gastro, visual and muscle systems.
Israel exports half a billion flowers
If you received flowers on Valentine’s day, there’s a good chance that they originated in Israel. Over 500 million stems are exported every year. 65% go to the Netherlands, famous for its tulips. https://www.israel21c.org/a-valentines-day-look-at-israels-flower-industry/
Merck’s latest Israeli venture
I’ve reported previously (see here) on Germany’s Merck and its many Israeli links. Merck’s VC arm M Ventures has just launched another startup incubator PMatX. It will support Israeli companies specializing in advanced electronic products including semiconductors and sensor technologies.
CLICK HERE FOR THIS WEEK’S GOOD NEWS FROM ISRAEL ARCHIVE.