JTA NEWS
19 July 2018 - 8 Av 5778 - ח' אב ה' אלפים תשע"ח
JTA NEWS :
Business
Israel and Taiwan sign MOU on closer business ties E-mail

A delegation of business representatives led by the Taiwan External Trade Development Council (TAITRA) visited Israel last month to explore possibilities for co-operative projects with Israeli firms.

A Memorandum of Understanding (MoU) was signed by the President and CEO of TAITRA, James Huang, and the Director General of the Israel Export and International Cooperation Institute, Gadi Arieli. The agreement aims to encourage closer co-operation between Israel and Taiwan in private and public sectors.

The signing of the MoU follows the successful “Computex and Taiwan Innovation Conference” held in Tel Aviv on 30 April, at which Israeli businessmen and industry representatives were introduced to some of the cutting-edge technologies being developed in Taiwan, such as projects related to AI and the Internet of Things.

It is hoped that new partnerships, especially in high-technology industries, will boost trade and economic development in the both countries.

The head of the Israeli division of Nuvoton, one of Taiwan’s large semi-conductor manufacturers, said: “Taiwan has not made use of all of the innovative resources Israel has to offer, and should strengthen co-operation by establishing a technology research and development centre in Israel.”

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IDI appoints Aviel Elia as new Managing Director E-mail

The Board of Directors of the Israel Diamond Institute (IDI) announced on 7 May that Aviel Elia has been appointed as its new Managing Director. He replaces Eli Avidar, who joined IDI in 2007 and successfully served in the position, with a brief hiatus, until recently. Before his appointment at IDI, Mr Avidar was the Consul General of Israel in Hong Kong.

Elia, an attorney, served as Legal Adviser and Company Secretary of IDI from 2013. As a key member of IDI’s management team, Elia has been involved in developing company strategy and negotiating all critical company transactions. He has been responsible for many aspects of corporate and operational management, including budgets, regulatory processes and implementation, and has represented the institute in dealings with government and official bodies.

IDI Chairman Boaz Moldawsky said: “Aviel is very well versed in IDI’s mission and activities. He has shown leadership, initiative and commitment. We are all very pleased that he will now be leading the organisation.”

Aviel Elia said: “I am very excited to assume my new role with IDI and to lead its talented and devoted staff. I was fortunate to have worked under Eli Avidar and I learned a great deal from him. IDI is in a unique position to work together with all parts of the industry to strengthen the Israeli diamond sector, by initiating new projects and by providing important assistance and tools to diamantaires, as we have in the past.”

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HSBC sets up a China Desk in Israel E-mail

The Hong Kong and Shanghai Banking Corporation Ltd (HSBC) disclosed in May that it has set up a China Desk in Israel to encourage trade and investment flows between China and Israel.

HSBC’s China Desk in Israel will help China and Israel co-operate across a number of sectors, including Internet, cleantech and healthcare. “China is shifting its economy from heavy industry and traditional manufacturing to one that is driven by services, technology and advanced manufacturing. This transition is complemented by Israel’s internationally recognised strength in innovation,” an HSBC spokesperson said.

Launched in 2012, HSBC’s China Desks have been established on six continents, including 11 in markets in Asia-Pacific, five in Europe, five in the Middle East and Africa and four in the Americas.

These desks cover more than 40 markets around the world, with some providing support to Chinese clients in multiple countries or territories. They provide HSBC’s Chinese clients with solutions in overseas markets that include strategic advisory, financing, hedging solutions and cash and liquidity management.

The new office will bolster HSBC’s existing presence in Israel, where the bank has been operating with a full banking licence since 2001.

The expansion of HSBC’s China Desks to Israel and other countries comes as the Chinese government works to refashion the flow of global commerce with its “One Belt One Road” initiative, a development plan to connect China with Europe, the Middle East and Africa through massive spending on infrastructure.

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Bangkok Bank to partner with OurCrowd E-mail

Israel-based Equity crowd funding company OurCrowd Ltd is partnering with Bangkok Bank Public Company Ltd., Thailand’s largest bank, OurCrowd announced last month.

Through the partnership, the two sides hope to connect OurCrowd’s portfolio companies with interested investors and customers working with the bank, OurCrowd CEO Jon Medved said.

With a dominant presence in Thailand, and overseas presence in Southeast Asia including China, Bangkok Bank has around 17 million customer accounts and total assets of US$102 billion.

Jerusalem-based OurCrowd offers accredited investors a way to participate in investments in pre-vetted startups. Of the firm’s 150 current portfolio companies, around 70% are Israel-based, but the firm has been steadily increasing its global reach since it was founded in 2013, and has to date raised over US$700 million from almost 25,000 investors in over 150 countries, according to its statements.

In 2015, OurCrowd started expanding to Asia, inking partnerships with financial institutes including Mumbaibased wealth management company Reliance Private Client; Hong Kong-based CITIC Pacific, a subsidiary of Beijing-headquartered, statebacked CITIC Group Corporation Ltd.; Singapore’s United Overseas Bank Ltd., and China’s Shanghai Commercial Savings Bank.

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Canon acquires Israel-based Briefcam E-mail

Israel-based BriefCam, a provider of video content and analytical solutions, reported on 9 May its acquisition by Japan’s Canon Inc., a world leader in digital imaging solutions. No official purchase price or deal amount was mentioned in its press statement.

The addition of BriefCam to Canon’s market-leading Network Video Solutions products portfolio complements the Canon Group’s previous acquisitions of AXIS Communications and Milestone Systems with a breakthrough, innovative, video content analytics solution.

The acquisition will drive further rapid innovation in video analytics by BriefCam as well as new co-innovation activities with Canon and its portfolio companies. In addition, it will enable BriefCam to enter new markets, deliver stronger vertical solutions, and serve its global customers even more effectively.

BriefCam will continue to remain an open platform, working seamlessly with other thirdparty products in the market ecosystem, providing customers with freedom of choice.

“The acquisition will allow BriefCam to continue to deliver industry leading video content analytics solutions, while remaining a standalone company within the Canon Group,” said Trevor Matz, BriefCam President and CEO. “The opportunity is a testament to the innovative technology we have built, the outstanding team we have assembled, and the rapidly growing business we have created.”

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