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The ICJ has ordered Israel to stop its military operation in Rafah and provide free access to the border crossing for humanitarian aid.
Startup Nation Central data reveals that the Israeli high-tech industry has raised $2.5 billion in funding and carried out $3.5 billion worth of mergers and acquisitions since the beginning of the war. The healthcare sector has seen 39 mergers and acquisitions, compared to 32 in cyber and 36 in enterprise and IT.
Novartis is actively seeking star researchers and pioneers in their fields to collaborate with and drive the company's growth. The company has established various programs for academic collaborations and is particularly interested in research related to metabolic, autoimmune, and neurological diseases, as well as exploratory research of serious and rare diseases. Novartis is also focused on gathering and analyzing data to improve treatment efficacy.
Dr. Avi Spier, Executive Director at Novartis, discusses the significance of face-to-face meetings and conversations in finding successful collaborations and emphasizes the importance of finding individuals who say important things quietly.
Novartis aims to expand its impact beyond Israel by becoming a bridge between Israel and the world, collaborating with Israeli biomed companies and academic institutions.
Dr. Ronny Gal, Novartis's Chief Strategy and Growth Officer, discusses the company's focus on innovative drugs and the importance of external innovation. He highlights the challenges and opportunities in various therapeutic areas and addresses the rising prices of drugs and the role of patent expiration.
Mizrahi Tefahot Bank reports a net profit of NIS 1.27 billion in the first quarter and will distribute a dividend of NIS 508.8 million.
Elbit Systems' share price is down 6% this year despite large contracts and a record backlog of orders. Foreign investors are not interested in Israeli stocks and there is a trend of anti-Israeli sentiment. Low liquidity on Nasdaq is also impacting the stock. However, there is potential for new buyers due to high defense spending.
The main indices on the Tel Aviv Stock Exchange fell today, with Maytronics experiencing a significant decline after disappointing Q1 results.
Better Juice has completed a GRAS procedure for its sugar reduction technology and will submit it to the FDA for review.
The Israel Tax Authority has launched a voluntary disclosure program for cryptocurrency players, allowing them to report and pay taxes without facing criminal proceedings. The program aims to help individuals who have struggled to regularize their cryptocurrency profits. The Tax Authority is also working on legislation to provide more certainty on taxation for technology sector investors.
S&P expresses pessimism about the speed of recovery for the Israeli economy after the war, despite the reported jump in GDP for the first quarter.
S&P warns of slow recovery for Israel's economy after recent conflict, citing lingering issues in tourism, construction, and agriculture sectors, as well as regional security and domestic political uncertainty.
Shares in Paz Oil surged as Zohar Levy raised his stake. Tel Aviv Stock Exchange saw gains, with Bank Hapoalim and Bank Leumi leading the way. Paz Oil, Delta Brands, Shufersal, and Telsys were notable advancers, while Magic Software and El Al declined.
Rakefet Russak-Aminoach becomes chairperson of semiconductors startup Hailo, representing investors in its B round and replacing Zohar Zisapel.
The 2023 report on the state of nature in Israel highlights declining biodiversity and increasing invasive species. Environmental stresses and habitat loss are major factors. Efforts to preserve certain species have been successful, but the decline in bird and butterfly populations is alarming. The report emphasizes the need for measurement and awareness to address these challenges.
Bank Hapoalim reported a net profit of NIS 1.94 billion in Q1 2024, declared a dividend of NIS 775 million, and saw a decline in revenue and deposits.
Israel's National Insurance Institute is expected to be insolvent by 2036, eight years earlier than previously estimated, due to demographic changes and low contributions.
Benny Gantz gives ultimatum to Benjamin Netanyahu, demanding a strategic plan by June 8 or they will leave the government. Gantz emphasizes the need for a clear and realistic strategic compass to win the war.
hiSky Satellite is gaining attention for its satellite communication services and is being compared to Elon Musk's Starlink. The company offers flexible and affordable solutions for industries such as agriculture and critical infrastructure. The global commercial satellite IoT industry is expected to grow due to increasing demand and investment from large enterprises and governments.
Barak Eilam, CEO of Nice, is stepping down from his post at the end of the year. Nice's share price has dropped following the announcement and mixed guidance in the company's financials.
Israel's GDP grew by 14.1% in Q1 2024, but remains 1.4% lower than Q1 2023 due to the Swords of Iron war. Consumption and investment figures indicate ongoing war impact, while import figures increased and exports shrank. Growth forecasts for 2024 range from 0.5% to 2%. raises annual outlook and reports strong Q1 2024 results, with revenue expected to reach $942-948 million for the full year.
The Goldberg and Tocatly families, who have discreetly dominated stock market operations systems for half a century, are now facing public scrutiny after an investigation was opened into irregularities in a company they jointly hold.
Recent real estate deals in Israel include the sale of second-hand apartments in Tel Aviv, Givat Shmuel, Hod Hasharon, Ramla, Shlomi, and Kiryat Malakhi.
Moody's maintains Israel's A2 rating despite geopolitical risks and negative outlook.
Israel's fiscal deficit has exceeded the government's target, reaching 7% of GDP. The deficit is expected to peak in September and could be as high as 8% by the end of the year.
United Airlines has postponed the resumption of flights to and from Israel until June 1, joining other airlines in delaying their return to the country.
Lufthansa and Elbit Systems are collaborating on a deal to supply UAVs to the German Navy, while Elbit has also secured a contract to supply mortar systems to General Dynamics.
Akamai Technologies is set to acquire Israeli API security company Noname Security for $450 million, enhancing its existing API Security solution and gaining greater scale and resources.
Trullion founders Isaac Heller and Amir Boldo are using AI to automate financial processes and improve accounting services. The company has raised $34 million in funding and plans to expand to Europe.
Acro Real Estate and Kata Group have won the auction for the IMI lot in central Tel Aviv with a bid of NIS 644 million.
Belgian Prime Minister Alexander De Croo is considering trade sanctions on Israel over its actions in Gaza, including prohibiting imports of products from West Bank settlements.
The IDF's operation in Rafah is expected to have a limited impact on the shekel's exchange rate, but if the fighting escalates, the rate could climb above NIS 3.8/$. The shekel's weakness can also be attributed to broader factors such as the Turkish boycott and the Houthis' announcement of increased attacks. Additionally, the US dollar is expected to strengthen globally due to growth and interest rate gaps between the US and Europe.
Nova and Bank Leumi led the gains today as Azrieli and Shufersal declined. The Tel Aviv Stock Exchange rose today.
Azerbaijan continues to supply oil to Israel via Turkey, with tankers still being loaded at the Ceyhan port. President Ilham Aliyev of Azerbaijan has good relations with both Israel and Turkey.
Canada plans to include the 'Right to Disconnect' in the 2024 Budget Law, giving employees the right to reject contact from their boss after work hours. This law will only impact 500,000 Canadian employees in public sectors. Israel has no plans to implement a similar law.
Israeli startups have raised over $1 billion in April 2024, the highest amount in several years, bringing the total raised in the first four months of 2024 to $2.6 billion.
Nvidia is set to acquire two Israeli startups for $1 billion, raising concerns about a 'brain drain' of AI talent in Israel.
Israeli citizens can now apply for passports and ID cards online, reducing queues at Population and Immigration Authority offices.
Israeli start-up Qwak provides an end-to-end solution for implementing AI, reducing infrastructure work and improving communication between development and data science teams.
Mobileye reports mixed Q1 results, in line with profit warning, and declines to provide guidance for Q2.
Nvidia has agreed to acquire Israeli deep learning company Deci AI to optimize its GPUs and AI servers.
Delek's Ithaca Energy will acquire Eni UK's North Sea assets in a stock deal, with Eni receiving a 37.3% stake in Ithaca. The deal is valued at $940 million and is expected to be completed in Q2 2024.
The recent deaths of Yehuda and Zohar Zisapel, two of the founding fathers of Israel's tech sector and the Rad-Bynet Group, have raised concerns about the future of the group of companies they founded.
Google Israel R&D head Yossi Matias is moving to Silicon Valley to lead Google Research globally.
Mobileye has received 46 million orders for its new EyeQ6 Lite system-on-chip, which will be installed in vehicles to enhance safety and driving experience.
Israeli company Thirdeye Systems has delivered its Ghost Soldier system to a customer. The system uses a miniature drone to assist ground forces in monitoring and discovering the enemy during warfare in open terrain.
Israel and the US are testing microwave and laser weapon systems to combat drones, which are more cost-effective and have the ability to keep firing as long as they have power.
One Zero CEO Gal Bar Dea believes banks should prioritize economic welfare and long-term thinking. He discusses the need for directives in the government and the lack of long-term planning in certain areas of life. Bar Dea also talks about the development of AI in One Zero, particularly the virtual assistant 'Ella'.
Armis Security is acquiring Silk Security for $150 million. Silk has developed a platform for identifying and repairing vulnerabilities.
The Israeli shekel has been stronger today against major currencies in volatile trading, gaining strongly in the morning but giving up much of the gains after the representative rate was set.
Despite the Iranian attack, the Tel Aviv Stock Exchange rose. Defense stocks performed well, while Teva and NICE lost ground.
Housing deals in Israel are on the rise, with a decrease in inventory of unsold new homes.
Iran launched a massive aerial attack on Israel, causing light damage to a military base. Successful interceptions were made thanks to Israel's air defense array and assistance from the US, UK, and Jordan.
Israeli importers are considering using Slovenian ports as an indirect route for Turkish goods after Turkey banned 54 items for export to Israel.
The Ministry of Transport in Israel is considering using the excavated earth from the Gush Dan Metro to build an artificial island off the coast. The excavation requires creative solutions for storage and transport, and the material may also be used to fill disused quarries.
The Israel Tax Authority has fined David Ezra, chairman of Neto M.E. Holdings, NIS 850,000 for carrying €475,000 in cash without notifying customs authorities.
Israeli data security company Cyera has raised $300 million in a financing round, bringing its company valuation to $1.4 billion. The round was led by Coatue and included participation from new investors AT&T, Spark Capital, and Georgian, as well as existing investors RedPoint, Accel, and Sequoia Cyberstarts.
Turkey has banned the export of 54 items to Israel in response to Israel's refusal to allow Turkish aid into Gaza. Turkish Airlines will not return to Israel until 2025.
Israeli digital ad company Perion Network has cut its annual guidance due to a drop in income from search advertising caused by changes in pricing made by Microsoft's Bing search engine.
Paddy Cosgrave is back as Web Summit CEO after stepping down six months ago following controversy over his comments on Israel's attack on Gaza.
A report by RISE Israel shows a 30% drop in investment in Israel's tech industry following the Swords of Iron war, with the rate of investment at its lowest since 2017. The decline in tech investment in Israel has been sharper than the global decline, and no Israeli company has returned to pre-war levels of activity.
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