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BIRD – Israel – U.S. Binational Industrial R&D Foundation to invest $8 million in 10 new projects

BIRD - Israel - U.S. Binational Industrial R&D Foundation to invest $8 million in 10 new projects

June 29, 2015 – During its meeting on June 18, 2015, held in Washington D.C., the Board of Governors of the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation approved $8 million in

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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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Israeli Researchers Create Amazingly Efficient New Process for Containing Oil Spills

Israeli Researchers Create Amazingly Efficient New Process for Containing Oil Spills

Israeli creativity and innovation can be seen across all business sectors, and while much of the time, the technology developed is new, quite often existing ideas are adapted in new ways to address an issue

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Israel Leads the Way in Water Technology

Life cannot be sustained without water, and in many parts of the world, this all important element is in very short supply. Israel, out of necessity, has developed a successful working plan for water conservation

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El Paso Texas and Hadera Israel – Sister Cities and a New Economic Alliance

El Paso Texas and Hadera Israel - Sister Cities and a New Economic Alliance

Our office was part of a three day conference in El Paso, Texas, where in addition to experiencing amazing hospitality from everyone we met, future strategies for economic collaboration, and partnership with Israel were mapped

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Shell + Israel Collaboration at OTC

Shell + Israel Collaboration at OTC

At the end of The Offshore Technology Conference yesterday, The Economic Mission to the Southern U.S. sponsored a joint meeting of the minds with Shell’s Chief Scientist and other major stakeholders from Shell, sharing ideas

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2015 Offshore Technology Conference – In Brief

2015 Offshore Technology Conference - In Brief

Israel’s Economic Mission to the Southern U.S. brought fourteen Israeli companies to exhibit at the largest oil and gas conference in the world. On Wednesday, May 6th during the Offshore Technology Conference (OTC) in Houston, Texas,

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Israel’s open innovation ecosystem praised once again

A delegation from the Inter-American Development Bank visited last month in Israel. Led by the Chief Scientist of the Bank, the delegation which comprised of the represntatives of the Technology and Innovation

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AgriVest Conference to Showcase Potential for Invertment in Agriculture Technology

AgriVest, a partnership between Israel’s Ministry of Economy, Trendlines Agtech and GreenSoil Investments to be held at Weizmann Institute of Science on 27th April 2015. The

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Agritech and AgriVest 2015

In a country where more than half the area is desert, the ideal of ‘making the desert bloom’ was essential to the core beliefs of the pioneers who established of the modern State of Israel.

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