Globes (Rishon LeZion, Israel)
- NewsBank (5655)
- Shekel slide continues into June
The shekel has been weakening today against the dollar and against the euro. In morning inter-bank trading, the shekel-dollar exchange rate is up 0.85% at 3.747/$ and the shekel-euro rate is up 0.75% at NIS 3.997/€.
- Israeli startups raised $550m in May
Israeli startups raised $550 million in May 2023, according to press releases seen by "Globes." The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received.
- Israeli cloud platform co Ariga raises $18m
Israeli cloud platform company Ariga announced the completion of an $18 million financing round led by Tiger Global and TLV Partners together with angel investors. The Tel Aviv-based company has also announced the launch of the new version of its Atlas Cloud platform for database schema management.
- Diplomat hikes Starkist tuna and other prices
Israeli food and toiletries importer Diplomat Holdings (TASE: DIPL) has announced price rises for some of its products from July 1. Diplomat imports and distributes a range of well-known brands including Starkist Tuna, which has 40% of the Israeli tuna market and will rise in price by 4%. Other brands, include Jacobs coffee, and Lotus biscuits which will rise in price by an average 6.1%.
- Israel recognizes Energean's Katlan gas discovery
Minister of National Infrastructures Energy and Water Resources Israel Katz has awarded to Energean plc (LSE: ENOG; TASE: ENOG) CEO Mathios Rigas the approval of the Head of the Fuel Administration Chen Bar-Yoseph of the license in Block 12 Katlan (Olympus) reservoir as a natural gas discovery. Katlan contains an estimated 68 BCM.
- Israeli startups that could interest Sam Altman
OpenAI founder and CEO Sam Altman will visit Israel at the start of next week as part of a tour of Europe and Asia. In Israel's tech industry, many entrepreneurs are making vigorous efforts to try and meet the man who is responsible for the most popular and talked about products in recent months, such as chatbot ChatGPT and cloud-based AI tool Copilot.
- Halliburton VP: Innovation can drive the energy industry forward
"We must not underestimate the central role of entrepreneurship and innovation in driving the energy industry forward," Halliburton Region VP Europe, Eurasia and sub-Saharan Africa Jean-Marc Lopez told the Globes Energy 2023 Conference, which was held with Halliburton and Energean.
- Miri Regev blocks progress on Metro
Israel's Minister of Transport Miri Regev is so angry with NTA about the delays in the start of operations of the Tel Aviv light rail Red Line that she has declared her plans to move supervision of the Metro project to another company. But the same time a chain of events and foot dragging by Regev herself and her own aides is threatening delays to the huge Metro project.
- Energean CEO: We want to put innovation into energy
"Just as we were the first to bring competition into Israel's gas market, so we want to now provide innovation to the gas and oil business," Energean CEO Mathios Rigas told the Globes 2023 Energy Conference in Tel Aviv yesterday evening.
- Fitch could raise Israel's rating if reforms halted
International credit ratings agency Fitch has published its latest survey of Israel for investors. Under the headline, "Strong Economic Growth Key to Israel's Debt Trajectory," the agency's analysts believe that Israel's debt/GDP ratios will continue to fall in the coming years despite the return to fiscal deficits and due to relatively strong growth. Fitch says that this trend "could lead to positive rating action in combination with other factors such as stable governance indicators." It is a while since the ratings agencies have used the word 'positive' when talking about Israel.
- "Madoff was motivated by control not greed"
September 2008. The global economic crisis snowball, which began with the subprime crisis in the US, begins to gain momentum. Bernie Madoff - up until then "The King of Wall Street" - starts to feel the rope tightening around his neck. On September 16, investment bank Lehman Brothers collapses,...
- 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. "Humanity ...
- 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....
- Kenny Rozenberg: I mend broken companies
In September 2020, as El Al Israel Airlines Ltd. (TASE:ELAL) was mired in debts of NIS 1 billion, and having failed to raise bank loans to save it from the Covid crisis, Uncle Sam came to the rescue. Kenny Rozenberg, until then a name few had heard of in Israel, invested $105 million in the airline ...
- Alan Feld: Israel's tech sector barometer
Recently, Israel's senior tech leaders gathered in an events hall on Tel Aviv's Menachem Begin Road for a private conference. Present were prominent investors like Eran Barkat of BRM, Yanai Oron of Vertex Ventures and Avi Eyal of Entrée Capital, but all were waiting for another person to speak:...
- Sweden's EQT to invest in Israeli tech from new €2.2b fund
Swedish investment company EQT (Stockholm: EQT) has announced that it will invest a substantial proportion of its recently closed €2.2 billion EQT Growth fund in Israeli companies. EQT has an investment portfolio of €77 billion. Its announcement states that the fund will take an "active approach to ...
- From Pepsi via Apple to digital healthcare
Three important movies have portrayed the character of John Sculley, former CEO of Apple and former president of PepsiCo. He has been played by Jeff Daniels in "Steve Jobs", by Matthew Modine in "Jobs ", and by Allan Royal - in "Pirates of the Silicon Valley". For his part, Sculley is baffled at...
- "We want Israel in the driver's seat in dealing with China"
In the 1870s, the US overtook Great Britain as the world's leading economy, a title it bears alongside "Leader of the Free World". But all that could change within the next ten years, if the predictions come true and it is overtaken by China, its most significant economic rival. There are some...
- Israel has major role to play in Intel revival
Intel is at one of the lowest points it has ever known. It has lost its lead in the chip market to rivals who have overtaken it in both mobile and artificial intelligence, and have figured out Intel's sophisticated production methods. It has suffered ongoing CEO churn, employee defection to...
- Startup Nation: rooted in socialism and military technology
The weakness Israel's tech sector is currently demonstrating - whether due to the industry's global crisis or economic uncertainty resulting from judicial reform - belies the fact that this sector is still alive and kicking, and its role in the domestic economy is stronger than ever. Miraculously,...