ISRAEL AT WAR - DAY 434

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Israel’s tech paradox: Despite war, tech exits surge 78%, led by cyber and AI deals
By Sharon Wrobel
So far in 2024, US buyers continue to lead with 31 M&A and IPO deals worth $8.9 billion, followed by Israeli buyers accounting for 15 transactions, says new PwC report
Illustrative image of employees working in the tech sector. (Hadas Porush/Flash90)
AI a ‘game-changer’ for future of warfare, says Defense Ministry director-general
By Sharon Wrobel
Over the next decade, AI robots in land, air and sea will lead the modern warfare battlefield, predicted Defense Ministry director-general Eyal Zamir, speaking Tuesday at the first international defense tech summit. In his opening remarks at the summit held at Tel Aviv University, Zamir said those armies that will adapt AI capabilities... Continue Reading
Israel Defense Ministry director-general Eyal Zamir speaks at a defense tech summit at Tel Aviv University on December 10, 2024. (Dror Sithakol/Lense Productions)
Knesset panel delays vote on compensation policy changes to bring back foreign airlines
By Sharon Wrobel
A heated debate about legal changes to compensation rights in the event of flight cancellations during wartime, intended to bring back foreign airlines to Israel, ended without a vote on Monday. MK David Bitan, who chairs the Knesset Economic Committee, said in the meeting that without an unequivocal commitment from foreign airlines to... Continue Reading
Passengers stand in line at Ben Gurion Airport during a nationwide strike demanding the government reach a hostage release deal, September 2, 2024. (GIL COHEN-MAGEN / AFP)
An Israir flight takes off from Ben Gurion International Airport, outside of Tel Aviv, August 25, 2024. (Yossi Aloni/Flash90)
Israir and Arkia gear up to challenge El Al’s monopoly on flights to North America
By Sharon Wrobel
Israel is producing fewer new startups, raising concerns about future tech jobs
By Sharon Wrobel
On the 53rd floor of the Azrieli Sarona Tower in Tel Aviv, venture capitalists, start-up founders, and entrepreneurs gathered last week to hear about trends and forecasts for the coming year. They listened to Gigi Levy-Weiss, a general partner at the NFX venture capital fund, who expressed serious... Continue Reading
Illustrative: Offices of the Jerusalem Venture Partners tech investment firm in Jerusalem, February 18, 2019. (Hadas Parush/ Flash90)
Israeli wave energy project draws interest from Qatar, Saudi Arabia and even Iran
By Sue Surkes
An Israeli company, Eco Wave Power, whose pioneering ocean wave energy technology has attracted interest from countries with which Israel currently has no diplomatic relations, including Iran, Turkey, Saudi Arabia, and Qatar, has formally opened its demonstration project at the Jaffa Port with its significant strategic partner, EDF Renewables Israel. The technology, designed... Continue Reading
Eco Wave Power's grid-connected demonstration unit in Jaffa, central Israel. (Ilan Spira)
Israeli low-cost carrier Air Haifa. (Courtesy)
As foreign airlines lay low during war, a new carrier is a boon for grounded Israelis
By Sharon Wrobel
Air Haifa took off in the middle of Israel’s ongoing conflict with flights to Larnaca, as the Cypriot airport becomes a hub for Israelis trying to reach the US and Europe
Political and security instability fears top Israeli investor concerns, survey finds
By Sharon Wrobel
Political and security instability alongside the ability to raise funds are the leading concerns for Israeli investors and entrepreneurs, as the war with the Hamas terror group is in its 14th month with no end in sight, according to a new survey. Asked in the survey about what biggest challenge investors face in... Continue Reading
Fusion co-founder Guy Katsovich speaks to investors and entrepreneurs at an annual VC trends conference in Tel Aviv on December 5, 2024. (Courtesy)
IDF troops operate at the Litani River in the eastern sector of southern Lebanon, in a handout image released on November 26, 2024. (Israel Defense Forces)
OECD cuts Israel growth forecast as costs of war expected to continue to mount
By Sharon Wrobel
The Paris-based organization says risks remain high and urges the government to take fiscal action to bring the deficit down
Illustrative: An employee in the offices of the Bezeq telecom firm in the northern city of Kiryat Shmona near the border with Lebanon on February 22, 2024. (Jalaa MAREY / AFP)
Norway wealth fund divests from Bezeq over services to West Bank settlements
By Reuters and ToI Staff
Decision follows toughening of stance by fund’s watchdog, which says presence of telecom firm in disputed territory violates international law even though it also serves Palestinians
Bank Hapoalim chairman Reuven Krupik speaks at the Globes business conference in Tel Aviv on Dec. 3, 2024. (Shlomi Yosef/Globes)
Business leaders worry about government priorities to support war-battered economy
By Sharon Wrobel
Prominent entrepreneurs see the continued prioritization of political budget allocations, over economic ones, delaying recovery at a cost to the public
Google said worried contract with Israel could damage its reputation
By ToI Staff
Officials at Google are reportedly worried that the company's contract with Israel, which includes services for the Defense Ministry and Shin Bet, could potentially enable Israeli human rights violations of Palestinians, and damage the reputation of the company. According to a Tuesday report in The New York Times, officials at the US tech... Continue Reading
Demonstrators hold signs in protest as they block an entrance to the Google I/O conference in Mountain View, California on May 14, 2024. (AP Photo/Terry Chea)
An illustrative photo of Nvidia's HGX supercomputing platform. (Courtesy)
Google, Amazon set to compete in tender for Israel’s AI supercomputing platform
By Sharon Wrobel
‘Zionism 2.0’: Former NBA player Omri Casspi raises $60m to invest in Israeli startups
By Sharon Wrobel
Former NBA player Omri Casspi has raised $60 million in seed capital to invest in early-stage startups and companies founded by Israeli serial entrepreneurs developing technologies in the areas of cybersecurity, cloud infrastructure, and artificial intelligence. Swish Ventures is Casspi’s second seed venture capital fund after stepping onto... Continue Reading
For illustration: Former NBA player and investor Omri Casspi (second from right) tours Israel's devastated south with tech billionaire Elon Musk (right) in November 2023. (Courtesy)
Intel CEO resigns before completing struggling chipmaker’s turnaround plan
By Reuters and Sharon Wrobel
Intel Corporation's Pat Gelsinger has stepped down as CEO less than four years after taking the helm of the company, handing control to two lieutenants, as the faltering US chipmaking icon searches for a permanent replacement. Gelsinger, who resigned on December 1, left the company before the completion of an ambitious and costly... Continue Reading
Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event in New York, on December 14, 2023. (AP Photo/Seth Wenig, File)
Fitch and Moody’s express cautious optimism over ‘fragile’ ceasefire with Hezbollah
By Sharon Wrobel
Fitch and Moody’s on Thursday expressed some cautious optimism that the ceasefire between Israel and the Lebanese terror group Hezbollah, if durable, would relieve some pressure on the country’s finances. The credit rating agencies, however, cautioned that other geopolitical and domestic risks challenging Israel's credit standing remain... Continue Reading
This photo shows signage for Fitch Ratings, in New York, October 9, 2011. (Henny Ray Abrams/AP)
An image from a record of seismic activity generated by Hamas vehicles heading toward the Gaza-Israel border on October 7, 2023. (Tel Aviv University)
3 seismometers in southern Israel detected Hamas activity just before Oct. 7 attack
By Sue Surkes
Tel Aviv scientists find widely spaced stations picked up heavy vehicle movement in 30 minutes prior to invasion; findings could open way for detection systems to serve security
Bank of Israel head bashes banks for raking in hefty profits while shortchanging clients
By Sharon Wrobel
Bank of Israel governor Prof. Amir Yaron on Wednesday criticized the country’s lenders for profiting from the income they earn from mortgage and loan repayments while being slow to offer the public fair interest-bearing deposits. Speaking at a conference in Tel Aviv, Yaron said that lenders, which have been reaping huge profits from... Continue Reading
Bank of Israel Governor Amir Yaron speaks at a conference in Tel Aviv on November 27, 2024. (BOI spokesperson)
A Bank Hapoalim cash machine. (Yonatan Sindel/Flash90)
Major lenders’ profits soar as banks cash in on wartime interest rate growth
By Sharon Wrobel
US President-elect Donald Trump and Meta CEO Mark Zuckerberg. (Collage/AP)
Elon, watch your back?
Meta CEO Zuckerberg dines with Trump at Mar-a-Lago
By AFP
Unclear if billionaire Elon Musk, a close Trump ally who previously challenged Meta CEO to cage match fight, also attended meal, though he has frequently been present at resort
Illustrative: People shop for food at Shufersal, on September 21, 2020. (Yossi Aloni/Flash90)
Shufersal profit jumps 370%, bolstered by price hikes, strong food demand amid war
By Sharon Wrobel
Supermarket chain earns NIS 238m in the July to September period, when many Israelis didn’t travel abroad due to the absence of foreign carriers and stocked up on food items
Tech forum names seasonal airline, reveals fares for NY route, to launch in January
By Sharon Wrobel
A forum of leading tech executives and investors is planning to launch a new seasonal airline named TechAir to operate round-trip flights from Tel Aviv to New York, as US airlines have stopped flying to and from the country in the past couple of months. TechAir is being initiated by Israel’s high-tech headquarters,... Continue Reading
A Fly Dubai plane is parked on the tarmac at Ben Gurion International Airport, near Lod, November 10, 2024. (AP Photo/ Ohad Zwigenberg)
Israeli startup Imagindairy uses precision fermentation technology to teach microorganisms such as yeast or fungi to produce animal-free milk proteins. (Tal Shahar/Imagindairy)
Foodtech startup gets regulatory nod for protein to sell cow-free milk in Israel
By Sharon Wrobel
Imagindairy seeks to partner with food companies for the production of dairy products like cheeses, yogurts, and ice cream made with its animal-free protein
Strauss divests stake in Sabra US hummus venture to PepsiCo for $244 million
By Sharon Wrobel
Israeli food manufacturer Strauss Group is divesting its 50 percent stake in Sabra Obela, the maker of hummus dips and spreads sold across the US, to its longtime partner US conglomerate PepsiCo for about $244 million. Strauss is selling 50% of Sabra Dipping Company, which is jointly owned with PepsiCo and sells savory... Continue Reading
Sabra hummus stickered with anti-Israel message in the US, January 2024 (L) and packages of Sabra hummus on display in Los Angeles, April 2021 (Facebook screen capture / The Image Party/Shutterstock.com)
Illustrative image of employees working in the tech sector. (Hadas Porush/Flash90)
December 11, 2024, 8:53 pm
Israel’s tech paradox: Despite war, tech exits surge 78%, led by cyber and AI deals
So far in 2024, US buyers continue to lead with 31 M&A and IPO deals worth $8.9 billion, followed by Israeli buyers accounting for 15 transactions, says new PwC report
By Sharon Wrobel
Israel Defense Ministry director-general Eyal Zamir speaks at a defense tech summit at Tel Aviv University on December 10, 2024. (Dror Sithakol/Lense Productions)
December 10, 2024, 4:44 pm
AI a ‘game-changer’ for future of warfare, says Defense Ministry director-general
In first year of war, 86 startups focusing on innovative tech took in orders worth $168 million from government body, five times more than previous year’s total, data shows
By Sharon Wrobel
Eco Wave Power's grid-connected demonstration unit in Jaffa, central Israel. (Ilan Spira)
December 9, 2024, 10:12 pm
Israeli wave energy project draws interest from Qatar, Saudi Arabia and even Iran
Eco Wave Power officially launches grid-connected demonstration model in Jaffa, plans two more for Los Angeles and Taiwan, commercial scale roll-out in Portugal
By Sue Surkes
Passengers stand in line at Ben Gurion Airport during a nationwide strike demanding the government reach a hostage release deal, September 2, 2024. (GIL COHEN-MAGEN / AFP)
December 9, 2024, 10:08 pm
Knesset panel delays vote on compensation policy changes to bring back foreign airlines
Committee head demands steadfast commitment that carriers will resume their services; lambastes war profiteering by Israeli airlines
By Sharon Wrobel
Illustrative: Offices of the Jerusalem Venture Partners tech investment firm in Jerusalem, February 18, 2019. (Hadas Parush/ Flash90)
December 8, 2024, 11:34 pm
Israel is producing fewer new startups, raising concerns about future tech jobs
The past decade has seen the number of newly founded startups plunge 45% and more, creating a potential economic shortfall in the coming years, according to RISE Israel
By Sharon Wrobel
Israeli low-cost carrier Air Haifa. (Courtesy)
December 6, 2024, 5:14 pm
As foreign airlines lay low during war, a new carrier is a boon for grounded Israelis
Air Haifa took off in the middle of Israel’s ongoing conflict with flights to Larnaca, as the Cypriot airport becomes a hub for Israelis trying to reach the US and Europe
By Sharon Wrobel
Fusion co-founder Guy Katsovich speaks to investors and entrepreneurs at an annual VC trends conference in Tel Aviv on December 5, 2024. (Courtesy)
December 5, 2024, 10:43 pm
Political and security instability fears top Israeli investor concerns, survey finds
Poll shows fundraising remains a major worry, while the M&A market for Israeli startups sets a new high with $10.5 billion in deals led by foreign acquirers over the past year
By Sharon Wrobel
IDF troops operate at the Litani River in the eastern sector of southern Lebanon, in a handout image released on November 26, 2024. (Israel Defense Forces)
December 4, 2024, 11:59 pm
OECD cuts Israel growth forecast as costs of war expected to continue to mount
The Paris-based organization says risks remain high and urges the government to take fiscal action to bring the deficit down
By Sharon Wrobel
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Students learning at Israel Cyber Campus
December 4, 2024, 4:47 pm
Cyber For All aims to provide some stability to a generation that hasn’t had any
Transforming challenges into opportunities: Equipping displaced youth with cyber skills for a brighter tomorrow “We’d love to help these students create new skills that will help them have a better future,”
By Aviva Gat
Bank Hapoalim chairman Reuven Krupik speaks at the Globes business conference in Tel Aviv on Dec. 3, 2024. (Shlomi Yosef/Globes)
December 3, 2024, 8:19 pm
Business leaders worry about government priorities to support war-battered economy
Prominent entrepreneurs see the continued prioritization of political budget allocations, over economic ones, delaying recovery at a cost to the public
By Sharon Wrobel
Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event in New York, on December 14, 2023. (AP Photo/Seth Wenig, File)
December 2, 2024, 9:22 pm
Intel CEO resigns before completing struggling chipmaker’s turnaround plan
Pat Gelsinger, Israel supporter and head of one of the largest employers in the country, leaves as it rushes to catch up with rivals, despite layoffs and asset sales
By Reuters and Sharon Wrobel
For illustration: Former NBA player and investor Omri Casspi (second from right) tours Israel's devastated south with tech billionaire Elon Musk (right) in November 2023. (Courtesy)
December 2, 2024, 7:18 pm
‘Zionism 2.0’: Former NBA player Omri Casspi raises $60m to invest in Israeli startups
The athlete’s second seed venture capital fund, Swish Ventures, seeks to fund locally founded businesses in cybersecurity, cloud infrastructure and AI
By Sharon Wrobel
This photo shows signage for Fitch Ratings, in New York, October 9, 2011. (Henny Ray Abrams/AP)
November 28, 2024, 8:09 pm
Fitch and Moody’s express cautious optimism over ‘fragile’ ceasefire with Hezbollah
Credit rating agencies note that the ceasefire with Hezbollah, if durable, reduces only one source of geopolitical risk while others remain, alongside domestic political concerns
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks at a conference in Tel Aviv on November 27, 2024. (BOI spokesperson)
November 27, 2024, 5:08 pm
Bank of Israel head bashes banks for raking in hefty profits while shortchanging clients
Governor Yaron laments that deposits sitting in checking accounts often do not bear interest for holders, but are a cheap source of financing for lenders
By Sharon Wrobel
Illustrative: People shop for food at Shufersal, on September 21, 2020. (Yossi Aloni/Flash90)
November 26, 2024, 6:56 pm
Shufersal profit jumps 370%, bolstered by price hikes, strong food demand amid war
Supermarket chain earns NIS 238m in the July to September period, when many Israelis didn’t travel abroad due to the absence of foreign carriers and stocked up on food items
By Sharon Wrobel
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