JTA NEWS
23 October 2018 - 15 Heshvan 5779 - ט"ו חשון ה' אלפים תשע"ט
JTA NEWS :
Business
Ofo sets up Israel office E-mail

After a successful pilot scheme at Bar-Ilan University in Tel Aviv, Chinese bicycle-sharing company Ofo has opened a representative office in Israel, and has appointed Imri Galai as general manager of the Israeli branch, the company announced.

Galai formerly headed global marketing for Israeli taxihailing app company Gett, and was Europe, Middle East and Africa regional business development manager for apartment share company Airbnb.

As reported in the November 2017 issue of Jewish Times Asia, the company was planning to place 1,000 shared bikes in Israel by the end of last year. Ofo’s launch at Bar Ilan University received great support from the student union, teachers and students. Ofo placed 100 bikes at 19 parking sites around the campus.

Ofo is the first and largest bicycle-sharing platform in the world to operate station-free. Founded in China in 2014, it provides a convenient, cheap urban transport solution that cuts polluting emissions, reduces traffic jams, saves energy, and even contributes to people’s wellness.

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Israel Diamond Pavilion at Hong Kong show holds diamond auction E-mail

The Israeli Diamond Industry had a major presence at the Hong Kong Trade Development Council’s Hong Kong International Diamond, Gem & Pearl Show on 27-28 February at the AsiaWorld-Expo convention and exhibition venue. And this year, for the first time, the Israel Diamond Pavilion held an auction of special stones offered by Israeli exhibitors.

The Israel Diamond Pavilion, organised by the Israel Diamond Institute Group of Companies (IDI), hosted 70 companies. In addition, 10 Israeli companies exhibited in other locations throughout the show. Among the Israeli exhibitors were four companies participating in the show for the first time.

The Israel Diamond Pavilion was located in the Diamond Hall at the venue. A spacious lounge offered a place for buyers and sellers to relax, with refreshments served throughout the day. “Get Diamonds Show” terminals enabled buyers to search a computerised database, in both English and Chinese, of all goods offered by Israeli exhibitors at the show. Buyers were also able to access the Get Diamonds Show system on their smartphones.

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IDE officially launches new Innovation Center, Diamond Tech E-mail

During the 7th International Diamond Week (IDWI), held from 5 to 7 February, the Israel Diamond Exchange (IDE) officially launched its new Innovation Center, Diamond Tech. The technological incubator, located within the IDE complex, will host and support diamond-related startups in a variety of fields.

Through this initiative, IDE will promote new technologies that will bring added value to the diamond industry, as well as to other sectors. CARATS.IO, the diamond-based crypto-currency, is the first company to move into the incubator. Among the startups being considered are projects dealing with robotics, lasers and other advanced technologies for diamond manufacturing, virtual reality for innovative marketing platforms and more.

At the dedication ceremony, IDE President Yoram Dvash said: “This is something one can only dream about and we have been able to make it a reality. We are marrying the expertise and experience of the Israeli Diamond Industry with the originality and creativity of the Start-Up Nation. I believe that if the diamond industry wants to take off, this is the runway.”

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ISA approves dual-listing of companies on Singapore, HK, Toronto stock exchanges E-mail

The Israel Securities Authority (ISA) officially approved a bill in January to allow companies traded on the Singapore, Hong Kong and Toronto Stock Exchanges to dual-list on the Tel Aviv Stock Exchange (TASE).

The bill, put forward by the Chairman of the ISA, Shmuel Hauser, aims to expand duallisting to the stock exchanges of Hong Kong, Singapore and Toronto. The authority has enabled dual-listing on the London and New York Exchanges since 2000, allowing companies listed on these exchanges to also trade on TASE.

Hauser first announced his intention to expand the recognised dual-listing in May 2017. About 60 companies listed on the TASE today are also listed on London or New York, the authority said in a statement, adding that in recent years, dual-listed companies have made up 40%-60% of the Israeli exchange’s market capitalisation value. In a statement, the authority said that there is a growing interest among Israeli companies in listing on Asian exchanges, which are considered attractive markets for raising capital.

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Marubeni Corporation looking for expansion E-mail

As reported by Japan Times in January, Japanese trading house Marubeni Corporation is planning to establish an office in Israel, where cutting-edge technologies and information technology companies have gathered, according to Fumiya Kokubu, the company’s president.

Through the move, Marubeni aims to respond to the rapid advances of digital technologies, such as artificial intelligence, big data and “the internet of things”.

“We would like to establish a base from the perspective of new technology and new business models,” said Kokubu in a recent interview with Japan Times. The trading house has yet to decide on details, including when to open the office.

Also in Silicon Valley and China, the company will consider strengthening the functions of its existing offices and taking other measures to cope with changes in the business environment. In the spring of 2017, the company set up a cross-section strategy department on internet-of-things technology and big data.

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