Globes (Rishon LeZion, Israel)
- Elbit Systems unveils AI-powered assault rifle
Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) has unveiled its ARCAS AI-powered assault rifle. The rifle has a built-in computerized artificial intelligence (AI) powered system that interfaces with the rifle's electro-optical (EO) sight, with a helmet mounted eyepiece and with the rifle's assemblies, providing soldiers with real-time intuitive actionable combat information.
- Indian military inaugurates use of IAI's missile defense system
The Indian Armed Forces has inaugurated the integration and operational use of Israel Aerospace Industries (IAI) Barak 8 MRSAM Air & Missile Defense System. MRSAM is an advanced path-breaking air and missile defense system that provides ultimate protection against a variety of aerial platforms and includes an advanced phased array radar, command and control shelter, mobile launchers and interceptors with an advanced RF seeker. MRSAM is jointly developed by IAI and DRDO in collaboration with India and Israel for the Indian forces.
- Court denies Teva's motion to dismiss Copaxone kickbacks case
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) will stand trial accused of transferring illegal royalties to third party charitable foundations in order for the foundations to finance treatment of multiple sclerosis with its Copaxone drug. Massachusetts District Court Judge Nathaniel Gorton rejected Teva's petition to have the case dismissed and Teva's argument that its contributions to the charitable foundations could not represent a breach of the law since the company did not control the way the contributions were used.
- Amot pays NIS 1.52b for Tzrifin logistics center
The company that manages the pension funds of Jewish Agency employees announced last week that Amot Investments Ltd. (TASE:AMOT), controlled by Nathan Hetz, had won the auction of the logistics center at Tzrifin. The real estate company will pay NIS 1.518 billion for the center. The proceeds of the sale will be used for the benefit of the Jewish Agency pension funds and will secure their rights.
- Apartments sold and rented
Second-hand apartments sold
- Court dismisses petition against Sde Dov long term rental homes
Tel Aviv Administrative Court Judge Yael Blecher has dismissed a petition by the Sde Dov landowners against land being allocated for construction of long-term rental housing and instructed Tel Aviv Municipality to expropriate land for the purpose. These apartments will be expropriated from the landowners and registered to the Tel Aviv Municipality at the landowners' expense.
- Israel Aerospace IPO postponed until 2022
Israel Aerospace Industries (IAI) IPO on the Tel Aviv Stock Exchange is not expected to take place this year, even though the four underwriters were chosen three months ago.
- Barak family to become partner in WeSure, Ayalon for NIS 270m
Digital insurance group WeSure Global Tech (TASE: WESR) has reported another important strategic agreement, in which Caesarea Medical Electronics (CME), controlled by the Barak family, will become its partner in the controlling interest in insurance and finance group Ayalon Holdings Ltd. (TASE: AYAL) when the acquisition of that company is completed, and will also become a substantial shareholder in WeSure Global Tech itself.
- Papaya Global raises $250m at $3.7b valuation
Israeli startup Papaya Global, which has developed a payroll platform for cross-border management of human resources and employee salaries, has tripled its valuation within six months. The company has announced that it has raised $250 million at a valuation of $3.7 billion. In March, Papaya Global raised $100 million at a company valuation of $1.2 billion, after money. Papaya Global's valuation has risen ten-fold since completing its $40 million financing round last September.
- Global-e files for $857m secondary offering
Israeli e-commerce platform Global-e (Nasdaq: GLBE) has filed a prospectus to sell 12 million shares worth $857 million, at the time of filing on Tuesday. All the shares being sold in the secondary offering are by existing shareholders and Global-e itself will not receive any new proceeds from the offering.
- A trip to better management skills?
The substances described in this article are illegal in Israel and their use, even in a controlled manner, may cause physiological and mental disorders....
- Israel seen as major player as global chip war intensifies
Recently, Google "poached" former senior Intel executive Uri Frank to lead its strategic chip development activity in Israel. Frank had headed Intel's semiconductor development for data centers and personal computers, responsible for some $30 billion in revenue each year. This expertise...
- Femtech seeks to provide alternatives to the pill
The invention of the pill was probably the biggest earthquake undergone by feminism: a cheap and available means that allows billions of women worldwide to manage their future, their family and their livelihood. It was undoubtedly an event that makes it easy to see how life has changed before and...
- The man making antibodies smarter
Prof. Yanay Ofran's amazing story about the pursuit of an antibody that will save the world from disease Shlomit Lan and Gali Weinreb Professor Yanay Ofran, founder and CEO of Biolojic Design, a company that develops smart antibodies designed to treat a variety of diseases, is frustrated. "Huma...
- "Small businesses want help with cash flow. We do that."
About two and a half years ago, the entrepreneurs behind the start-up Melio - Matan Bar, Ziv Paz and Ilan Atias - decided to set up an accounting company in the United States. For several weeks they tried to find "crazies" as they put it who would agree to a group of unknown guys from...
- "One day every cancer patient will use our product"
At the beginning of November, "Globes" reported that NovoCure (Nasdaq: NVCR), developer of a medical treatment for cancer, was worth $12 billion, and that it had surpassed Teva's market cap. Between the end of November and now, the company's market cap rose by a further 30%, to $17...
- The woman to change the Bank of Israel
"There was no need to distribute grants to everyone". A first interview with the new Bank of Israel Director General Shulamit Geri enters the post of Director General of the Bank of Israel - one of the country's most conservative institutions - at the height of the Covid-19 period, when...
- Tourism will be less spontaneous, more planned
Without any spontaneity and with more emphasis on the countryside is how Michael Shichor, publisher of the popular Michael's Guide travel guide books, sees vacations in the post-Covid period. "In the near future, holidaymakers won't just travel wherever they want but rather to where it is...
- "Wix wanted to buy us but missed the chance"
A year and a half ago, the founders of the website building platform Elementor, Yoni Luksenberg 36, and Ariel Klikstein, 37, faced a dilemma. At that time, the company they'd founded in 2015 had already grown to 60 employees, the number of customers was expanding, and annual recurring revenue rate (...
- "It's not right that Israeli high tech is foreign owned"
BATM Advanced Communications Ltd. (LSE: BVC) CEO Zvi Marom is ending six years as chairman of the Israeli High-Tech Association. This position, along with his company's areas of expertise - which includes infectious diseases and testing equipment for infectious diseases - as well as his close...