JTA NEWS
24 February 2020 - 30 Shevat 5780 - ל' שבט ה' אלפים תש"פ
JTA NEWS :
Business
Elbit Systems receives new defense contract Print E-mail

Defense electronics company Elbit Systems Ltd announced in October that it has been contracted for US$153 million to supply Unmanned Aircraft Systems (UAS) to a Southeast Asian army over a 22-month period.

Under the terms of the contract, Elbit Systems will supply a network of multilayered drone solutions.

Elbit Systems president and CEO Bezhalel Machlis said, “This contract award underlines our competitive edge, as armies increasingly view multi-layered UAS solutions as key to providing superior intelligence while maintaining a high level of operational flexibility.”

(Issue Nov 2019)

 
Israel diamond firms exhibit at the Hong Kong Jewelry & Gem Fair E-mail

An Israeli diamond pavilion booth was featured this September at the Jewelry & Gem Fair in Hong Kong.

The pavilion hosted a total of 59 Israeli diamond companies, and even provided state of the art terminals which enabled buyers to scour the database.

President of the Israel Diamond Exchange (IDE), Yoram Dvash, commented that “the Israeli companies enjoyed interest from many buyers”.

He added that the show exceeded expectations, given the political unrest and the ongoing protests in Hong Kong.

Throughout the show, the new media team of the Israel Diamond Institute (IDI) posted live updates on the activities underway at the pavilion on different social media platforms garnering thousands of hits.

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Further strategic partnerships for OurCrowd in Asia E-mail

Israel venture capital crowdfunding platform OurCrowd has announced a strategic business and technology scouting partnership with Toyota Tsusho Corporation.

OurCrowd is an innovation and investment platform that connects investors and startups around the world, and has already raised over US$1.28 billion in funding commitments.

The partnership combines the strength of Jerusalem-based OurCrowd’s Israeli and global network, robust deal-flow pipeline, and their growing portfolio of 200 promising startups along with the broad reach and core values of Toyota Tsusho.

The scouting agreement will seek out startup leaders in autonomous driving with a focus on sensors, image recognition, data compression, and security.

The partnership will also seek out disruptive technologies in a diverse group of other sectors such as smart cities, medtech, including cancer examination, digital health, environmental technologies, and big data in agriculture.

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Hutchison Telecom sorting out share buy back in Israel E-mail

Hong Kong-based Hutchison Telecommunications International Ltd sent delegates for meetings with the Israeli Ministry of Communications in preparation for reacquiring Partner Communications Ltd, according to Globes.

The shares reverted to Hutchison after US-Israeli billionaire Haim Saban announced that he was giving up the controlling interest in the mobile phone company.

Hutchison must now prepare for the possibility of receiving the shares, and therefore needs a control permit from the Ministry of Communications in Israel.

Hutchison operates in Israel in water desalination, an activity that is managed by Amikam Cohen and Dan Eldar, who worked with Cohen in Partner as VP operators connections and international connections.

As reported by Globes, the return to Israel by Hutchison, which had founded Partner Communications, is problematised due to its roots in Hong Kong.

Hutchison was already the controlling shareholder in Partner in the past, but the decline in trade relations between China and the US – especially given pressure from the US administration to restrict its relations with China – are arousing concerns that Hutchison will have difficulty in obtaining a permit to control the company.

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Thai seafood exporter invests in Israeli protein startup E-mail

Expanding its hunt for breakthrough food technologies, Thailand-based seafood giant Thai Union Group has invested an undisclosed sum into Israeli alternative protein startup Flying SpArk.

The investment in the Ashdodbased startup, which produces protein from fruit fly larvae, represents the first deal announced by Thai Union after launching a venture fund to secure access to and accelerate innovative food-tech solutions and protein sources.

Cultivating fruit fly larvae in a sustainable manner with minimal waste, Flying SpArk is the maker of a 70% protein powder and oil which can be incorporated into a range of food and feed products.

With promises of low water utilisation, no greenhouse gas emissions, and negligible land use, Flying SpArk says its larvae-based proteins have an advantage over proteins sourced from meat, plants and other insects, including crickets and grasshoppers; for every 1,000 tons of protein powder produced, Flying SpArk says, its technology will save 110 million square metres of fresh water, 50,000 hectares of land, and 55,000 tons of greenhouse gas emissions.

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