11 December 2018 - 4 Tevet 5779 - ד' טבת ה' אלפים תשע"ט
SGX among bidders for stake in Tel Aviv bourse E-mail

According to a report in the Singapore Straits Times last month, the Singapore Exchange (SGX) is a contender for a controlling stake in the Tel Aviv Stock Exchange (TASE).

More than 10 foreign stock exchanges have signed nondisclosure agreements and expressed their interest in buying into the Israeli exchange. Israeli media said these included bourses in London, Toronto, Hong Kong, Singapore, Australia and Warsaw.

TASE said in January that it was in the process of finding a strategic investor, with shareholders putting a 71.7% stake, valued at around US$147 million (S$195 million), up for sale. TASE has said it expects to draw interest from the world’s leading stock exchanges, “which will significantly strengthen the Israeli stock exchange’s competitive position globally and will lead to the creation of international collaborations and attract overseas investors”.

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GoforIsrael annual business conference E-mail

The 18th GoforIsrael annual business conference took place in March at the Tel Aviv Hilton hotel. Organised by Cukierman & Co. Investment House Ltd. and Catalyst Funds, GoforIsrael is one of the most influential business conferences in Israel, attracting about 1,000 venture capitalists, PE Funds, key decision-makers, business representatives, leading entrepreneurs and other investors from Israel, China, the US and Europe.

The Chairman of this year’s conference was Ronnie Chan, Chairman of Hang Lung Properties, one of China’s biggest real-estate firms, and Co-Founder of Morningside, his family’s philanthropic foundation. He was one of the key speakers at the conference.

At the two-day event, many Israeli hi-tech companies showcased their latest innovations in areas such as information technology, life sciences and healthcare, cyber security, energy and advanced manufacturing. They hoped to attract Chinese investors who want to profit from the growing demand for high technologies and innovations in China, the fastest-growing economy in the world.

Edouard Cukierman, Chairman of Cukierman Investment House and Managing Partner of Catalyst CEL China Israel Fund, said: “The conference is a great opportunity to meet the leading Israeli entrepreneurs and investors in one place. Israeli technology companies will benefit from pre-organised meetings with potential investors, and the opportunity to present their technologies on stage. We expect to have continuous 1:1 meetings between investors and entrepreneurs during and following the conference.”

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India and Israel ink MoU on water conservation E-mail

India and Israel recently signed a Memorandum of Understanding (MoU) to enhance co-operation on water conservation in India.

India’s minister of state for drinking water and sanitation, SS Ahluwalia, told the Upper House of Parliament that the ministry had signed an MoU with the ministry of energy of the State of Israel on “National Campaign for Water Conservation in India”.

According to the MoU, both sides will work to enhance cooperation at the national, regional and international level to design, implement and monitor a professionally designed National Water Conservation Campaign in India to put water conservation on the national agenda.

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Chinese carrier Sichuan Airlines looking to fly to Israel Print E-mail

In another airline development, Sichuan Airlines has filed a request with the Israel Airports Authority to operate two weekly flights, on Tuesdays and Saturdays, from August, Yediot Ahronot has reported.

China’s Sichuan Airlines plans to launch a new route between Tel Aviv and Chengdu, the country’s fifth-largest city. In 2015, China’s Hainan Airlines launched Tel AvivBeijing flights and recently added a Tel Aviv-Shanghai route. In August this year it will start flying between Tel Aviv and Guangzhou.

(Issue Apr 2018)

Developing business ties between Israel and Goa, India E-mail

Bluben International Commerce, a Tel Aviv-based consultancy firm that is in the business of forging partnerships, recently set up a representative office in the city of Panjim in Goa, India.

Avraham Benabou, director general of the company, said it had achieved its first milestone in Goa through an agreement signed with Goa Shipyard Ltd. (GSL). In future, Bluben will be representing GSL in Israel. “The agreement will help GSL seek partners for its various projects,” said Benabou.

Most international companies prefer to set up offices in metro cities, but Benabou explained that Bluben selected Goa “not only due the reasonable cost in the location but mainly because of the quality of environment and the human dimension among the business people and the decision-makers in the state”.

He explained that in the current era of digital communication, a metro office is no longer necessary. In fact, out of its Goa office, the company is already servicing companies in Hyderabad and Maharashtra, he said.

Benabou is a regular traveller to Goa and has seen progress on each visit. He said his firm plans to focus on clean energy and agro-projects. “Goa’s location makes it ideal for ocean energy, and our company is trying its best to push the idea to local policy makers,” he said. The company plans to establish agreements with leading local industries and develop joint projects protecting the character of the state and open new and innovative areas of business.

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