ISRAEL AT WAR - DAY 469

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Israel to bring forward procurement of AI chips ahead of Biden’s new export rules
By Sharon Wrobel
Knesset subcommittee discusses new US restrictions on the export of advanced computer chips, calls on government to act on a national AI strategy to secure Israel’s global standing
Knesset subcommittee on Artificial Intelligence and Advanced Technologies discusses new restrictions by the US on exporting advanced computer chips. (Knesset website)
Illustrative - Intel's 12th-generation Intel Core processors, named Alder Lake. (Ohad Palik)
Israeli sources say Biden’s new AI chip export rules a ‘major blow’ to industry
By Sharon Wrobel and AP
US chipmaker Nvidia's offices in Yokne'am in Israel's north. (Courtesy)
Chip giant Nvidia to invest more than $500m in new Israeli AI research data lab
By Sharon Wrobel
10,000-square-meter facility in the north to be used by Nvidia’s engineering teams to develop AI technologies
Illustrative: The Tel Aviv Stock Exchange. November 29, 2020. (Miriam Alster/ FLASH90/ File)
Gaza ceasefire should take pressure off Israel’s credit rating, Fitch agency says
By Reuters
Analyst at 2nd firm says lasting ceasefire would have an ‘overwhelmingly positive’ impact on Israel’s economy after war led to rating downgrade by multiple major agencies
Israeli startup qbiq develops an architectural AI platform that allows users to generate layout plans and 3D visualizations. (Courtesy)
Israeli generative AI startup raises $16 million to automate architectural planning
By Sharon Wrobel
Tel Aviv-based qbiq says its AI-based software platform can be used by non-architects and architects alike to plan, visualize, and optimize any interior space within a few clicks
Illustration: Israelis withdraw money from Bank Hapoalim cash machines. (Yonatan Sindel/Flash90)
Inside Story
More than a third of Israeli households spend more than they earn, as living costs rise
By Sharon Wrobel
Around 2.5 million Israelis are overdrawing their accounts, struggling to make ends meet, while banks reap record profits from extending credit lines and charging high interest
Arkia teams up with tech initiative to launch flights to New York starting February 8
By Sharon Wrobel
Israeli airline Arkia has teamed up with TechAir, initiated by a forum of leading tech executives and investors, to launch flights from Tel Aviv to New York starting February 8, as flagship carrier El Al maintains a monopoly status on the route and US carriers are staying away. Starting February 8, three weekly... Continue Reading
Israeli airline Arkia will start operating flights from Tel Aviv to New York. (Courtesy)
Reaches places where current capabilities sometimes cannot
An ‘Iron Dome’ to stop wildfires: Israeli startup’s ‘FireDome’ is based on missile defense
By Sharon Wrobel
In the midst of war, as sirens were blaring almost every day to signal barrages of incoming rockets, Israel’s Iron Dome air defense system tracked and intercepted missiles to help protect and save lives. For Gadi Benjamini, the Iron Dome in January last year inspired the idea behind the development of a... Continue Reading
Israeli startup FireDome has developed a wildfire defense system. (Courtesy)
Illustrative: Israeli entrepreneurs, investors and lawyers mingle at the Up & Coming annual tech conference by PwC Israel and Goldfarb Gross Seligman law firm in Tel Aviv on September 4, 2024. (Sharon Wrobel/Times of Israel)
With a possible end to the war in sight, will 2025 bring a startup ‘baby boom’?
By Sharon Wrobel
Fund managers and tech executives worry about a shortage of local talent and new startups, but expect a revival of Israeli tech firms going public on the US stock market
Israeli startup Endostream Medical develops a medical device for the treatment of brain aneurysms. (Courtesy)
Japan’s Kaneka buys Israeli medical device startup in $100 millon deal
By Sharon Wrobel
Endostream Medical, the developer of an implant device for the treatment of brain aneurysms, will operate as Kaneka’s first Israeli R&D hub
Illustrative. Cybersecurity technology. (Stock Depot via iStock by Getty Images)
In year of war, investment in Israeli cyber startups more than doubles to $4 billion
By Sharon Wrobel
Fundraising in 2024 was led by Israeli cyber firms that develop technology to protect the cloud and artificial intelligence threats, according to a report by YL Ventures
Top asset management firm stops rating human rights risk in Israeli-Palestinian conflict
By Asaf Elia-Shalev
JTA — When investors need help navigating business decisions in conflict zones they turn to specialized firms that are supposed to help them keep clear of human rights abuses. But one of the biggest firms offering advice on environmental, social, and governance issues recently announced that when it comes to the Israeli-Palestinian... Continue Reading
Attendees of a Morningstar investment conference walk beneath banners at the McCormick Center in Chicago, June 24, 2010. (M. Spencer Green/AP)
Central bank sees economy improving but warns of continued geopolitical uncertainty
By Sharon Wrobel
The Bank of Israel on Monday raised its growth prospects for the economy for this year as it expects the intensity of fighting to moderate in the coming months, but cautioned that the forecast is overshadowed by continued geopolitical uncertainty and expectations for increased inflation. “The state of the Israeli economy is improving,”... Continue Reading
Bank of Israel governor Amir Yaron speaks at a press conference in Jerusalem, April 8, 2024. (Sharon Wrobel/Times of Israel)
People talk near a Meta sign outside of the company's headquarters in Menlo Park, California, March 7, 2023. (AP Photo/Jeff Chiu)
Meta announces replacement of fact-checking program with X-style community notes
By AP
Company says change comes in part due to shift in focus to free speech after election of Trump; ADL slams company for backtracking on addressing hate, antisemitism
Security forces speak to residents inside a cordoned-off area near a house hit by a rocket fired from Lebanon, in Ein Hamifratz near Acre in northern Israel on October 19, 2024. (Jack Guez/AFP)
Israel lays out NIS 3.4 billion plan to get northerners back home in March
By Sharon Wrobel
Internally displaced for more than a year, returning residents will be eligible for assistance grants of up to NIS 25,360 per adult and NIS 12,680 per child
An apartment block fitted with solar panels (but not storage) in the southern city of Beersheba, through the Sun for All initiative. (Yuval Pan)
In first, Tel Aviv apartment building turns to solar energy storage for emergency use
By Sue Surkes
Sunshine for Everyone helps lease rooftop to developers, allowing nine-story building to go off-grid and maintain electricity in common areas during power cuts
More records found linking Credit Suisse to Nazi accounts, US Senate panel says
By AFP
WASHINGTON -- An investigation by a US Senate panel has found that troubled investment bank Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II. Tens of thousands of documents discovered during an ongoing examination have provided new proof of the existence of... Continue Reading
A sign of the Credit Suisse which reads in German as 'part of the UBS group' and displayed on a branch of Swiss banking giant UBS in the resort of St. Moritz on December 20, 2024.(Fabrice COFFRINI / AFP)
Passengers at Ben Gurion International airport on October 31, 2024. (Nati Shohat/Flash90)
Israel to cut travelers’ flight cancellation compensation to woo back foreign airlines
By Sharon Wrobel
MKs advance measure under which passengers will be entitled only to a refund of ticket cost; government also announces plan to assist airlines operating US flights
Sharon Wrobel
Explainer
Sharon Wrobel
Experts fear last-minute corporate tax law could have unintended, costly consequences
In a whirlwind action, the Knesset on the last day of 2024 passed a key budget law designed to make changes to the corporate tax regime and collect billions of shekels for the state’s coffers as the government struggles to finance the costs of the ongoing war with the Hamas terror group. The so-called Trapped... Continue Reading
Illustrative: A person doing taxes (iStock by Getty Images)
2024 sees drop in number of small business owners, but ‘shockwave’ to come next year
By Sharon Wrobel
This year wiped out 50,000 small and medium-sized businesses but the real "shockwave" is set to hit the economy in 2025, as owners contend with the fallout of an ongoing 15-month war, according to non-bank credit provider Ultra Finance. Many hairdressers, tour guides, shop owners, accountants, photographers, freelancers and suppliers of all stripes... Continue Reading
A picture shows closed shops in the southern city of Sderot near the Gaza border on January 8, 2024, amid continuing battles between Israel and the Hamas. (Alberto PIZZOLI/AFP)
Finance Minister Bezalel Smotrich (second from left), Tel Aviv Stock Exchange CEO Ittai Ben-Zeev (right), Israel Securities Authority chairman Seffy Zinger (left), and Finance Ministry director-general Shlomi Heizler (second from right) at the Tel Aviv Stock Exchange, on December 30, 2024. (Liel Simon)
Tel Aviv Stock Exchange to shift to Monday-Friday trading week starting 2026
By Sharon Wrobel
Alignment with the trading week of US and European stock markets is expected to ease local and international investments in Israeli capital markets
Knesset subcommittee on Artificial Intelligence and Advanced Technologies discusses new restrictions by the US on exporting advanced computer chips. (Knesset website)
January 16, 2025, 11:38 pm
Israel to bring forward procurement of AI chips ahead of Biden’s new export rules
Knesset subcommittee discusses new US restrictions on the export of advanced computer chips, calls on government to act on a national AI strategy to secure Israel’s global standing
By Sharon Wrobel
Israeli startup qbiq develops an architectural AI platform that allows users to generate layout plans and 3D visualizations. (Courtesy)
January 15, 2025, 8:39 pm
Israeli generative AI startup raises $16 million to automate architectural planning
Tel Aviv-based qbiq says its AI-based software platform can be used by non-architects and architects alike to plan, visualize, and optimize any interior space within a few clicks
By Sharon Wrobel
US chipmaker Nvidia's offices in Yokne'am in Israel's north. (Courtesy)
January 15, 2025, 3:20 pm
Chip giant Nvidia to invest more than $500m in new Israeli AI research data lab
10,000-square-meter facility in the north to be used by Nvidia’s engineering teams to develop AI technologies
By Sharon Wrobel
Illustration: Israelis withdraw money from Bank Hapoalim cash machines. (Yonatan Sindel/Flash90)
January 14, 2025, 10:01 pm
More than a third of Israeli households spend more than they earn, as living costs rise
Around 2.5 million Israelis are overdrawing their accounts, struggling to make ends meet, while banks reap record profits from extending credit lines and charging high interest
By Sharon Wrobel
Israeli airline Arkia will start operating flights from Tel Aviv to New York. (Courtesy)
January 13, 2025, 7:04 pm
Arkia teams up with tech initiative to launch flights to New York starting February 8
With US airlines staying away, seats scarce and fares sky-high, the Israeli airline will operate three weekly flights on the Tel Aviv-New York route for an initial three months
By Sharon Wrobel
Illustrative - Intel's 12th-generation Intel Core processors, named Alder Lake. (Ohad Palik)
January 13, 2025, 6:35 pm
Israeli sources say Biden’s new AI chip export rules a ‘major blow’ to industry
Experts quoted saying framework, which tries to balance US national security concerns with economic interests, could prevent 120 countries, including Israel, from competing in AI
By Sharon Wrobel and AP
Israeli startup FireDome has developed a wildfire defense system. (Courtesy)
January 12, 2025, 9:35 pm
An ‘Iron Dome’ to stop wildfires: Israeli startup’s ‘FireDome’ is based on missile defense
System shoots capsules of eco-friendly fire retardant to create barrier; detects and extinguishes blazes; set for testing in Israel in May, and the US in 2026
By Sharon Wrobel
Illustrative: Israeli entrepreneurs, investors and lawyers mingle at the Up & Coming annual tech conference by PwC Israel and Goldfarb Gross Seligman law firm in Tel Aviv on September 4, 2024. (Sharon Wrobel/Times of Israel)
January 9, 2025, 8:48 pm
With a possible end to the war in sight, will 2025 bring a startup ‘baby boom’?
Fund managers and tech executives worry about a shortage of local talent and new startups, but expect a revival of Israeli tech firms going public on the US stock market
By Sharon Wrobel
Israeli startup Endostream Medical develops a medical device for the treatment of brain aneurysms. (Courtesy)
January 9, 2025, 4:52 pm
Japan’s Kaneka buys Israeli medical device startup in $100 millon deal
Endostream Medical, the developer of an implant device for the treatment of brain aneurysms, will operate as Kaneka’s first Israeli R&D hub
By Sharon Wrobel
Illustrative. Cybersecurity technology. (Stock Depot via iStock by Getty Images)
January 7, 2025, 11:39 pm
In year of war, investment in Israeli cyber startups more than doubles to $4 billion
Fundraising in 2024 was led by Israeli cyber firms that develop technology to protect the cloud and artificial intelligence threats, according to a report by YL Ventures
By Sharon Wrobel
Bank of Israel governor Amir Yaron speaks at a press conference in Jerusalem, April 8, 2024. (Sharon Wrobel/Times of Israel)
January 6, 2025, 8:19 pm
Central bank sees economy improving but warns of continued geopolitical uncertainty
Bank of Israel holds interest rates at 4.5%, citing rising inflation following January tax hikes, including VAT; governor warns lawmakers against making changes to the 2025 budget
By Sharon Wrobel
Passengers at Ben Gurion International airport on October 31, 2024. (Nati Shohat/Flash90)
January 2, 2025, 11:20 pm
Israel to cut travelers’ flight cancellation compensation to woo back foreign airlines
MKs advance measure under which passengers will be entitled only to a refund of ticket cost; government also announces plan to assist airlines operating US flights
By Sharon Wrobel
Illustrative: A person doing taxes (iStock by Getty Images)
January 2, 2025, 10:01 pm
Experts fear last-minute corporate tax law could have unintended, costly consequences
The so-called ‘trapped profits bill’ that took effect on Jan. 1 aims to curb tax avoidance amid expensive war, but some worry it’ll be hard to implement and discourage investment
By Sharon Wrobel
A picture shows closed shops in the southern city of Sderot near the Gaza border on January 8, 2024, amid continuing battles between Israel and the Hamas. (Alberto PIZZOLI/AFP)
December 31, 2024, 8:57 pm
2024 sees drop in number of small business owners, but ‘shockwave’ to come next year
50,000 small and medium-sized businesses closed and 46,000 new ones opened in 2024, the second consecutive year of net declines, according to data by Ultra Finance
By Sharon Wrobel
A container ship at Haifa port in northern Israel, November 14, 2011. (Yaakov Naumi/Flash90)
December 31, 2024, 7:58 pm
Five US-Israeli clean tech projects chosen to receive $7.5 million in grants
Governments of Israel and US to channel cash through BIRD foundation, with projects expected to raise a further $8.5 million from private sources
By Sue Surkes
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