JTA NEWS
16 October 2018 - 8 Heshvan 5779 - ח' חשון ה' אלפים תשע"ט
JTA NEWS :
Business
Singapore FinTech and City TLV association sign MOU E-mail

The Singapore FinTech Association (SFA) and the Israeli City TLV association have inked a Memorandum of Understanding (MOU) to foster greater FinTech co-operation between the two communities.

The MOU signed between the non-profit associations on 18 December last year aims to bridge the two FinTech ecosystems, through cross border collaboration and initiatives. The leaders of the two associations took part in a joint televised conference on SMEs, and an Israeli delegation attended the Singapore Fintech Festival in November.

Further exchanges are planned to link these two hubs, which share similar profiles as leaders in technology with impeccable reputations for business services. Shmuel BenTovim, President of City TLV said: “Singapore is an important partner in our global FinTech network. They set a fine example of the potential for FinTech, with natural synergies between Israel and Singapore, enforced by our shared ambition for excellence in innovation and technology and the friendly relations between the two governments. City TLV will aim to include in the implementation of the MOU all relevant associations in Israel, including The Floor, Fintech Aviv, IATI, Israel Export Institute and Start-up Nation. This MOU is another example of our focused efforts to enable a global FinTech ecosystem which can generate returns for all stakeholders.”

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Food fair provides export opportunities for Vietnamese beer and food E-mail

The first Asian food fair in Tel Aviv, held in mid-November, impressed the Israeli people, who especially liked the Saigon beer brand from Vietnam.

The fair promoted food and beverage products from Asian countries such as India, Thailand, Japan, South Korea, Tibet and Vietnam.

It was the first time Saigon beer had been on sale in Israel. Saigon beer had appointed a leading Israeli import and export company, Diplomat, which has a strong network of retailers and restaurants in the country.

Speaking at the event, the General Director of Diplomat, Roni Bornstein, said he was impressed with the products from Vietnam at the fair. Diplomat decided to import the Vietnamese beer to the Israeli market because it is one of the most famous products in terms of high quality and design.

He said his company took over two years to persuade the Israeli authorities to issue a licence to import the beer to Israel due to barriers such as quality and food safety. Now, the wording on the beer bottles is printed in Hebrew, and the beer is produced in accordance with Kosher standards.

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VBL Therapeutics teams up with Japanese company for drug trial E-mail

In November, Israeli company VBL Therapeutics, which develops treatments for brain and ovarian cancer, signed an agreement with Japanese company NanoCarrier to commercialise VBL’s technology in Japan.

In return for granting marketing rights to its drug to NanoCarrier, VBL will receive a US$15-million advance and more payments according to various targets. The total payment will be up to US$100 million. VBL will also receive more than 10% royalties on sales.

VBL’s leading product is in Phase III clinical trials for the treatment of glioblastoma. A Phase III trial of the drug for treatment of ovarian cancer is scheduled to begin by the end of the year. NanoCarrier will be responsible for special trials in Japan, if necessary, and for the regulatory process. This deal can indicate the potential market opportunity for commercialising the drug anywhere in the world.

Japan is the world’s second largest pharmaceutical market after the US, while the US market combined with the European market is three times the size of the Japanese market. Success in Phase III trials can push up the company’s market cap by a factor of up to 10.

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Chinese construction company wins contract to be main contractor in Israel project E-mail

Beijing Construction Engineering Group (BCEG) recently signed a construction contract as the main contractor of the Neot Ariel Sharon project in Kiryat Ono, Tel Aviv, with Israeli Carasso Real Estate.

The signing on 13 November marked the first time that a Chinese company has been appointed as the main contractor with an Israeli real estate company in the country. It is the beginning of co-operation between both sides, and also the beginning of BCEG’s business in Israel, said Chang Yongchun, vice general manager of BCEG. “The performance of this project will lay a solid foundation for our long-term co-operation in Israel,” the manager said.

BCEG has business in all parts of China, and is expanding around the world. Israel’s Ministry of Construction and Housing of Israel selected the company, whose Israeli branch was registered in March 2017, as the top foreign contractor in October 2016.

The construction project covers a total area of 25,000 square metres. Six residential buildings will be set up, with nearly 800 housing units. The project will be completed in six phases, with the first phase covering 9,000 square metres.

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Radcom extends contract with Philippine communications provider Globe Print E-mail

Tel Aviv-based technology company Radcom Ltd. is extending its contract with Globe Telecom, a Philippines communications provider with over 60 million subscribers. Radcom provides solutions for monitoring and examining traffic on communications networks.

Under the three-year extension of the contract, Radcom will help Globe Telecom in its transition to an NFV-based (network functions virtualisation) network. According to the company’s published prospec-tus on the deal, the value will be around US$15 million.

“To provide our customers with a high-quality service and a delightful customer experience, we need top-level service assurance and analytics,” said James Lim, Globe Vice President for Network Technology Group. “This three-year partnership will optimise our Packet Core IP Probe system to continuously deliver superior mobile data service to our customers through real-time monitoring of our mobile network KPIs and subscribers’ KQIs. The system easily enables immediate detection of breached thresholds to trigger immediate action and rectification of issues, before they even impact the subscriber data experience. This partnership will also extend to our adoption of new technologies such as NFV, ” added Lim.

(Issue Dec 2017/Jan 2018)

 
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