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The London Economist Intelligence Unit Praises Israel’s Economy

1.  The US-based Asurion (mobile phone) acquired Israel’s Soluto for $100MN (Globes Business Daily, October 31, 2013).

2.  Israel’s Wix raised $140MN on NASDQ, determining a $600MN market value (Globes, November 7, 2013).  Israel’s Mazor Robotics raised $41MN on NASDAQ (Globes, Oct. 31).

3.  The $70BN Carlos Slim, from Mexico, led a $60MN round of private placement in Israel’s Mobli.  Slim’s investment was made via his America Movil Mexican cellular company.  In July 2013, Slim invested $40MN in Israel’s Shazam.  A September 2012 round of private placement was led by the Kazakhstan billionaire, Kenges Rakishev, the chairman of Mobli (Globes, Nov. 7).  The San Diego-based Qualcomm Ventures led a $13MN round – joined by the Silicon Valley-based San Disc Ventures and the Hong Kong-based Horizon Ventures – by Israel’s Magisto (Globes, Oct. 30).

4.  The London-based Economist Intelligence Unit, Nov. 6, 2013: “Start-Up Nation” – the name given to Israel’s cluster of high-tech companies, investors and incubators – is enjoying a boom the likes of which has not been witnessed since the global tech bubble burst more than a decade ago.  Israel’s high tech companies raised $660MN in the 3rd quarter of 2013 – the largest amount in any three month period since 2000. Those companies have also chalked up some significant recent successes, following a series of acquisitions by US-based technology companies.  The most notable was the $1BN sale of Waze to Google in June.  Since then, IBM has acquired Trusteer (combatting online banking fraud) for $650MN, Facebook has bought Onavo (mobile utility application) for an estimated $120MN and Asurion has agreed to purchase Soluto for $130MN.  Wix is launching an IPO that values the firm at around $720MN.  A host of other [Israeli] firms are planning overseas IPOs as well. Foreign venture capital fund account for the great majority of the capital invested in local start-ups…. The industry consists of thousands of start-ups…. More often than not, the start-up becomes a research and development center for the acquiring [overseas] company…joining more than 250 other such centers in Israel…. There are 70 Israeli, or Israeli-related, companies listed on NASDAQ, the most of any one country apart from the US and China…. “

 

 

 




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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