Straight from the Jerusalem Boardroom #145, August 19, 2010
1. “Israel economic growth unexpectedly accelerated to an annualized 4.7% in the 2nd quarter of 2010 [compared with 4.1% in the Euro Bloc, 2.4% - USA and 0.4% - Japan]. It is the fastest pace in more than two years, as exports [19% industrial exports surge in the 2nd quarter] and consumer spending [8.7% in the 2nd quarter] increased [as well as 11% rise of investment in fixed assets]... rising from 3.6% in the 1st quarter [and 4.3% in the 4th quarter of 2009]…”
Straight from the Jerusalem Boardroom #144, July 16, 2010
1. The Bio-Jerusalem Initiative has been established, in order to transform Jerusalem into the capital of Israel’s bio-med. 43% of Israel’s bio-med research is conducted in Jerusalem. 12% of Jerusalem’s workforce is engaged in bio-med and healthcare. Jerusalem’s Hebrew University is ranked 12th in the number of bio-med patents. Hebrew U Ph.D. candidates in the areas of biology, medicine, pharmacology and chemistry constitute an exceptional potential for Jerusalem’s bio-med industries.
Straight from the Jerusalem Boardroom #143, June 11, 2010
1. The 1948/9 War of Independence, the 1956 Sinai Campaign, the 1967 War, the 1969/70 War of Attrition, the 1973 Yom Kippur War, the 1981 US Military Embargo and global condemnation following the bombing of Iraq’s nuclear reactor, the 1982 war against the PLO in Lebanon, the 1987-92 1st Intifadah, the 1994-2000 Palestinian Suicide Bombers, the 2000-2002 2nd Intifadah, the pre-1948 and the 1948-2010 systematic Palestinian terrorism, etc. have been bumps on the path of unprecedented Israeli economic, technological, medical, agricultural and cultural growth!
Straight from the Jerusalem Boardroom #142, May 05, 2010
1. According to TopForeignStocks.com (May 2, 2010), Some of the reasons to invest in Israel are:
*The banking sector remained stable during the global credit crisis and emerged strong last year. Unlike many banks in the West, none of the banks had any large sub-prime exposure and needed to be bailed out by the state. The five largest banks - Hapoalim group, Bank Leumi Bank, Discount Bank, Mizrahi-Tfahot Bank group and First International Bank - are all well capitalized and their capital adequacy ratio is much higher than the minimum required by Basel standards.
Straight from the Jerusalem Boardroom #141, April 02, 2010
Intel-Israel's exports surged 145% in 2009, reaching a record $3.4BN. The record was facilitated by the completion of Intel's $4BN sixth plant in Israel. Intel is currently negotiation with Israel's government a possible $2.7BN expansion of the plant. Intel employs 6,340 persons at its two plants and four R&D centers in Israel. 120 workers were recently hired by Intel. Intel has invested $6.1BN in its Israel presence, boosted by a $1.2BN Israeli investment (Washington Post, Feb. 8, 2010).
Straight from the Jerusalem Boardroom #140, January 25, 2010
1. The London Economist (January 2010): Israel's 2009 economic performance, in face of global meltdown, suggests impressive growth in 2010. Israel's GDP grew in 2009 by 0.5%, compared to an average 3.5% decline in OECD countries: US – 2.5% decline, Japan – 6.5% decline, Germany – 4.9% decline, Britain – 4.7% decline, Italy – 4.8% decline, Ireland – 7.5% decline, etc. The Economist projects a 3.7% growth for Israel's 2010 economy and less than 7% unemployment (7.7% in 2009), compared with a 2.4% OECD growth and 8.8% OECD unemployment. Israel's inflation is projected to be 1.7%, compared to 3% in 2009 and OECD's inflation of 1.2% (1.3% in 2009).
Straight from the Jerusalem Boardroom #139, January 01, 2010
1. Acquisition of Israeli companies accelerated. IBM acquires Israel's Guardium for $200MN in cash, its 9th Israeli acquisition. The 1st acquisition was in 1998 (Ubique) and then iPhrase (2005), Unicorn (2006), WatchFire (2007), TeleLogic, XIV, Diligent and FilesX in 2008 (Globes, Nov. 30, 2009).
Straight from the Jerusalem Boardroom #138, November 25, 2009
1. Israeli youth highly motivated to serve: 73% of 18 year old recruits (in November 2009) prefer military service in combat units; number of applicants to the Golani infantry brigade was six times higher than needed; number of applicants to the Givati infantry brigade was four times higher than needed.
2. Siemens acquired Israel's solar energy Solel for $418MN, following Siemens' 40% acquisition of Israel's solar company, Arava Power for $15MN (Globes business daily, Oct. 16, 2009). Sigma Designs acquired Israel's CopperGate Telecommunications for $200MN (Globes, Oct. 1). Britain's M86 acquired Israel's Finjan for $35MN (Globes, Nov. 4).
Straight from the Jerusalem Boardroom #137 , November 07, 2009
1. Start-up-Nation:Israel's Economic Miracle (http://www.amazon.com//dp/044654146X), published in 2009 by the Council on Foreign Relations and authored by Dan Senor & Saul Singer: "In 2008 – a year of global economic turmoil – per capita venture investments in Israel were 2.5 times greater than in the US, more than 30 times greater than in Europe, 80 times greater than in China and 350 times greater than in India. Israel still boasts the highest density of start-ups in the world – a total of 3,850 start-ups, one for every 1,844 Israelis…Israel is the world leader in the percentage of the economy that is spent on R&D.
Straight from the Jerusalem Boardroom #136, August 02, 2009
1. Bankruptcy rate in Israel is one of the lowest in the world (19% increase during the first half of 2009), compared with the US - 45% increase, Spain - 58%, Spain - 75% and Switzerland - 15% (Yedioth Achronot, July 27, 2009).