JTA NEWS
24 February 2020 - 30 Shevat 5780 - ל' שבט ה' אלפים תש"פ
JTA NEWS :
Business
More oil and gas exploration licenses granted E-mail

Israel’s Ministry of Energy announced it has granted two new oil and natural gas exploration licenses to LSElisted British energy companies Cairn and Pharos Energy.

According to the ministry’s announcement, 12 licenses for offshore blocs were distributed in the latest round of tenders.

Asian consortiums were heavily involved with previous tenders awarded to Indian companies.

Of the new licenses, eight of them have been awarded a partnership that includes the two British companies and the Israeli partnership Ratio, which already has exploration licenses in other Mediterranean areas.

Cairn, headquartered in Edinburgh, Scotland, explores and produces oil and gas in a variety of locations worldwide. Pharos Energy, based in London, operates in oil and gas exploration off the coasts of Vietnam and Egypt.

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Singapore’s Temasek Holdings looking for more Israeli investment opportunities E-mail

Singaporean company Temasek Holdings is looking into Israel’s agri-tech and food tech sector for investment opportunities, according to their managing director of agricultural business and Middle East and Africa.

Managing Director Anuj Maheshwari was part of a seven-person Temasek delegation that arrived in Israel last month to scout for potential investments. Previous statements value the company’s net portfolio at US$231 billion.

Temasek is primarily interested in companies operating in sectors such as farming innovation and sustainable protein, as well as new technologies for producing safer, more nutritious foods.

Maheshwari added that it is too early to reveal any information about the deals in question, but that he expects that some of the deals will come to fruition in 2020, following the establishment of a local presence in Singapore wherein Tamasek will work to promote Israeli companies seeking Asian investors.

While Temasek is no stranger to investments in the Israeli market, its focus has traditionally been on cybersecurity and IoT companies.

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Chinese company completes acquisition of ADT E-mail

Advance Dicing Technologies (ADT), which supplies products for the semiconductor and electronic components industries, has been acquired by a Chinese conglomerate Zhengzhou Guangli Technology Ltd based in Shanghai.

Founded in Israel in 2003, ADT’s headquarter location will move from Yokneam, Israel, to Shanghai, and plans to significantly expand its sales and manufacturing presence in China in order to further penetrate the world’s largest semiconductor market.

“This is a strategic measure of supreme importance for the company’s future,” ADT CEO Yaron Barkan said. “The global market of the semiconductor and microelectronic industries is continuing its rapid development and growth, and is posing new challenges to us. In addition, the current global business environment and the volatility in the market are also confronting us with difficult challenges.”

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TAIWAN LOOKING TO ADOPT ISRAELI INFLUENCED DRONE TECHNOLOGY E-mail

According to local reports, Taiwan is building a fleet of suicide drones to strike targets in China in the event of an attack by the People’s Liberation Army, with specifications and designs similar to Israel Aerospace Industries (IAI) drones.

At the recent Taipei Aerospace and Defence Technology Exhibition held in August, Taiwan’s National Chung-Shan Institute of Science and Technology (NCSIST) unveiled the Chien Hsiang: an anti-radiation loitering munition.

“Loitering munition” refers to a drone that can hover above the battlefield until it identifies a target, which it will then obliterate by smashing into it and detonating, sacrificing itself in the process.

The term “anti-radiation” refers to the drone’s planned use as a weapon to attack earlywarning radar and air-defence systems.

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HYUNDAI LOOKING TO TEST HYDROGEN POWERED VEHICLES IN ISRAEL E-mail

South Korea’s biggest automaker Hyundai Motor are rumoured to be performing a large-scale experiment on hydrogen-powered trucks in 2020, with Israel potentially playing host to said tests.

Due to the significant worsening in recent years in global environmental regulations, several manufacturers, including Honda and Toyota, started producing hydrogen-powered carsusing technology which has been available for 50 years.

Israel provides ideal testing conditions, given the extreme heat of the Dead Sea region, the steep roads of the northern Galilee region, and cargo transfer durability testing on the Arava road in southeastern Israel.

According to the report, a senior delegation of Hyundai Motor recently visited Israel, meeting with officials at the Israeli Prime Minister’s Office to advance the experiment.

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