JTA NEWS
20 January 2018 - 4 Shevat 5778 - ד' שבט ה' אלפים תשע"ח
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Business
Adani Enterprises Ltd and Elbit Systems India Ltd form JV E-mail

India’s Adani Enterprises Ltd and Israel’s Elbit Systems India Ltd have formed a joint-venture company (JV), Adani-Elbit Advanced Systems India Ltd (AEASIL), to manufacture unmanned aerial vehicles in India. Adani group will own a 51% stake in the JV, while the Israeli firm will hold the remaining stake.

The formation of the JV follows the statement of intent signed by Adani Aero Defence Systems & Technologies Ltd, a wholly owned subsidiary of Adani Enterprises, with ElbitISTAR and Alpha Design Technologies in March this year to work together in the field of unmanned aircraft systems (UAS) in India.

UAS are considered to be the next frontier of technology, providing multi-functional capability, especially that of “see and hear”, to provide an information advantage to the fighters and net security providers.

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Delta Galil opens factory in Vietnam E-mail

On 8 November, Delta Galil Industries officially opened its first factory in Vietnam, in Phu Cat District, Binh Dinh Province.

Delta Galil Vietnam will produce yarn, woven fabrics, complete textile products and garments. The factory is expected to create many jobs and help spur socio-economic development in the locality. The company operates factories in well over 20 countries, employing a workforce of 10,000 worldwide.

One of the coowners and founders is Israel Prize laureate Dov Lautman. Established in 1975, in the Galilee region, near the city of Camiel, Lautman together with Eliezer Peleg set about opening the first sewing plants in the north of Israel. Hiring hundreds of workers and acquiring facilities for spinning, dyeing and knitting.

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Lenovo Group looking to tap Israeli startups E-mail

China’s leading newspaper, the China Daily, reported in October that Lenovo Group Ltd., the world’s largest personal computer maker, will invest about US$100 million in Israeli startups over the next three years to better tap into local talents and cuttingedge technology to grow its core business.

“We will focus on the internet of things, cloud computing, cyber security, image recognition and other areas which Israel excels in,” said Song Chunyu, Vice President of Lenovo.

The move came after the Beijing-based firm has poured up to US$20 million into at least six Israeli startups and CPI, a local venture capital fund, over the past several years.

Israel, known for its innovative engineering, has become one of the most popular destinations for Chinese investment as China works hard to upgrade from a manufacturing hub into a tech centre boasting core technologies. Internet giants Baidu Inc. and Alibaba Group Holding Ltd., as well as traditional firms such as Ping An Insurance (Group) Company of China Ltd., are all spending big to fund local startups.

“Compared with their Chinese counterparts, Israeli firms are more willing to spend years and even a decade on the research and development of a key technology. That is the most appealing point,” Song said.

He added that Israel, which has a small domestic market, is quite open to foreign investors and it is relatively easy for Chinese firms to expand their presence there.

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Teva Pharmaceutical forges joint venture with Celltrion Print E-mail

One of the world’s leading pharmaceutical companies, Israel-based Teva Pharmaceutical Industries, announced in October that it is setting up a joint venture with South Korea’s Celltrion Healthcare to sell two generic versions of genetically engineered drugs in North America.

Teva will pay Celltrion US$160 million up front, of which up to US$60 million will be either refundable or available as credit under certain circumstances. The companies will split the profits from the sale of the two drugs: Celltrion’s biosimilar version of Rituxan, which is used to treat non-Hodgkin’s lymphoma, chronic lymphocytic leukemia and rheumatoid arthritis, and a biosimilar version of Herceptin for the treatment of breast cancer. Both are currently under development.

(Issue Nov 2016)

 

 
Israel helps Rajasthan launch its own olive oil E-mail

After eight years of harnessing olive saplings brought from Israel, the northern-Indian state of Rajasthan is all set to launch its own brand of olive oil soon. It claims this will be the country’s first indigenously produced brand.

“The state will be launching its olive oil under “Raj Olive” brand at Global Rajasthan Agritech Meet (GRAM),” state Agriculture Minister Prabhu Lal Saini said.

After the product’s launch, the state will work on avenues to market it and seek co-operation from experts to increase its production.

According to agriculture officials, the state has so far auctioned more than nine tonnes of olive oil and plans to market 4,500 litres under the ‘Raj Olive’ brand at GRAM through Rajasthan Olive Cultivation Limited (ROCL), a venture of the state government, Indiabased Finolex Plasson Industries and Indolive Industries of Israel.

In 2008, the saplings were planted in 182 hectares of government farms in seven agriclimatic zones: Bassi, Bakalia, Santhu, Barore, Tinkirudi, Lunkaransar and Bsabasina villages.

“After eight years, cultivation has spread across 800 hectares in the state and we will be launching India’s first indigenously produced olive oil brand,” ROCL managing director Yogesh Verma said.

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