1.Â The mega-billion dollarÂ ChineseÂ food conglomerate, BrightfoodÂ ($17bn annual sales) acquired 56% of the Israel-based Tnuvah — Israel’s largest food/dairy company — for $1.4bn, aiming to dramatically expand Tnuvah’s global market (Globes Business Daily, May 23, 2014). Â China’s giant, Shenyang YuandaÂ ($4bn annual sales) signed a joint venture agreement with the Israel irrigation and fertilizer company, AutoAgronom, including a $2mn investment in expanding Auto Agronom’s marketing posture in China (Globes, May 23).Â Liu Yandong, Vice Premier of China’s State Council: “[Israel reflects] diligence, wisdom, creativity and perseverance…. China and Israel signed science and technology cooperation agreements in 1993 and 2010…. China and Israel cooperation inÂ science,Â technology andinnovations (STI) has taken deep roots, blossoming and yielding fruitful results…. China is Israel’s largest trading partner in Asia and Israel’s third largest trading partner globally…. Enhancing China-Israel STI cooperation will bring more benefits to the peoples of both countries….” (Jerusalem Post, May 17).Â
2.Â Â Singapore’sÂ holding company, Kusto ($1.4bn annual sales), acquired Israel’s Tambour paint manufacturer for $140mn (Globes May 28).
3. ”South KoreaÂ will host during July 14-16, 2014 a South Korea-Israel conference, upgrading bilateral cooperation in the area of industrial technology, including information security and unmanned aerial vehicles (UAV).Â Israel is the world’s second technology leader — following the USA — in the area of UAV technologies. Israel is recognized as one of the world’s best developers of cyber threat response systems.Â In 1999, South Korea and Israel signed a cooperation agreement; in 2001, they established the Korea-Israel Industrial Research & Development Foundation, a $2mn annual venture financing (so far) 132 joint industrial R&D activities. Israel is our great benchmarking model, as it has set an example by developing a creative economy and leading the global market and technology through innovation-based entrepreneurship (South Korea Ministry of Trade, Industry and Energy, April 18).”
4.Â Â France’s Alcatel-LucentÂ plans to open a Bell Labs research center in Kfar Saba, Israel — in a building housing an existing Alcatel-Lucent cloud-band technology facility — in order to upgrade its cloud-band technology in face of global competition.Â Bell Labs is Alcatel’s research arm.Â Alcatel’s CEO, Michel Combes: “Israel was the first countryÂ to really innovate the interaction between telecommunications and Internet technologies…. Alcatel may invest in Israeli cyber technologies.” Â Israel is one of three-four peak sites for Alcatel’s investments.Â According to the San Francisco-based Compass, Inc., Israel’s commercial hub is theÂ world’s second-best startup areabehind Silicon Valley (Bloomberg, May 20).
5.Â Â The Mountainview, California-based IntuitÂ acquired Israel’s Check for $360mn (The Marker, May 27). Israel’s Marimedia raised $50mn onÂ AIM, theÂ secondary stock exchange in LondonÂ (Globes, May 23).
6.Â The three leading global credit rating companies reaffirm Israel’s solid rating, while lowering the rating of most developed countries.Â Standard & Poor’s (S&P): “Israel’s economy is doing well enough that the country can now be considered high income…. S&P expects per capita income (almost $40,000) to grow to almost $42,000 by 2017.Â Just five years ago it …read more