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Investments in Israeli High Tech Hit New High

A recent report by the Israel Venture Capital (IVC) Research Center showed that Israel’s technology economy is attracting more investment money than ever.   The report found that Israeli high-tech firms set a new record

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Cyber Hack Triggers Mass Fiat Chrysler Car Recall

This past Friday, Fiat Chrysler announced a recall of 1.4 million vehicles regarding a very serious hacking vulnerability. Hackers recently detailed how they are relatively easily able to use the radio of a Jeep Cherokee

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Jon Medved Updates Chicago Crowd on OurCrowd and Israel High Tech Investing

Medved Lunch in Chicago

Last week, Jon Medved, Founder and CEO of OurCrowd (www.ourcrowd.com), spoke to a crowd in Chicago about Israel’s booming technology sector, and opportunities for investment.  According to Medved, even with a bright recent

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Deputy Secretary of Homeland Security Alejandro Mayorkas Traveling to Israel

United States Deputy Secretary of Homeland Security Alejandro Mayorkas will travel to Israel on July 16.  He will meet with his counterparts in the Israeli government to discuss a range of homeland security-related issues including cyber

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Israeli Top Innovations at Agritech Tel-Aviv 2015

If you want to know what will be the future in agriculture and Agro Technology, Agritech Tel Aviv is the place to be. The exhibition took place this year in April and was rich with

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Cleveland Clinic Announces Israeli Startup Accelerator

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Cleveland Clinic, together with Maccabi Health Services (Israel’s second largest HMO), is planning a new accelerator which will attract Israeli digital healthcare technology companies.  The Cleveland Clinic and Maccabi will work together to mentor and

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The IMF released a preliminary report of the Israeli economy for 2015

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The Bank of Israel published that IMF mission, headed by Mr. Bas Bakker, presented the Minister of Finance, Mr. Moshe Kahlon., and the Governor of the Bank of Israel, Dr. Karnit Flug, with its preliminary 2015 Article IV Consultation Concluding Statement on Israel’s economy. The IMF is expected to publish within two months its final report on the Israeli economy for 2015.

4 key points emerge from this report:

  1. Israel’s economy is performing well.
    After the global financial crisis, Israel, unlike other countries, maintains its GDP growth and the creation of employment (employment rate increased in 2007 from a rate of 59% to 68%).
  2. Some challenges remain:
    A. The fiscal deficit remains stubbornly high, leaving limited buffers to respond to shocks.
    B. Negative inflation, below the Bank of Israel’s target, but housing prices continue to rise.
    C. Low labor productivity and the gap with the US is widening.
    D. Income inequality is among the highest in the developed countriesOutlook:
  3. Positive economic outlook.
    Expected growth is 3% (up from 2.8% in 2014), due to strong private consumption growth. This is driven the rapid increase in employment, inear-zero interest rates, falling import prices, and the rebound from the impact of military operations last year. Inflation will turn positive, reaching ¾ percent at the end of the year and the target band next year. There is not much slack in the economy: staff judges that the output gap is near zero. In the medium term, output will grow around 3-3 ¼ percent-in line with our current estimate of potential output growth.
  4. Risks to the outlook are balanced.
    Growth could disappoint if growth in Israel’s trading partners were weaker, geopolitical tensions in the region heightened, or the shekel appreciation continued. A sharp correction in housing prices could also slow growth. Growth could also be stronger than expected, for example, if trading partner economies recover faster or investment in the natural gas sector increases. Monetary tightening in the United States would likely help Israel, as it would exert downward pressure on the shekel, which would boost growth and inflation.The IMF is expected to publish within two months of the final report on the Israeli economy for 2015.

    For the full report in English, visit the Bank of Israel.

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From Oranges Nation to Startup Nation

With the establishment of the State, the citrus industry was the main export industry, with Yafo (Jaffa) oranges brand becoming identified with the young country.   The changes in Israel’s export were, some might say, revolutionary. According

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Israel Retail Tech Start Ups Meet with Retailers and Brands in Chicago

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On June 2-4 the Government of Israel Economic Mission in Chicago hosted a delegation of 18 Israeli companies in the digital marketing space. The companies’ solutions ranged from personalized marketing,web/stores experience and analytics to online payments

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Publicis Groupe Executives Share Insights in Tel Aviv

On a recent Israel innovation tour, two senior executives from the Chicago office of the Publicis Groupe, the world’s third largest communications group, shared insights with a group of entrepreneurs at Tel Aviv’s SOSA, an

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