JTA NEWS
18 August 2018 - 7 Elul 5778 - ז' אלול ה' אלפים תשע"ח
JTA NEWS :
Business
IAI to develop electric-powered aircraft E-mail

Israel Aerospace Industries Ltd announced on 20 March that it will be developing electrically powered aircraft. The company says the new aircraft will provide green energy solutions for environmental benefits, will have longer ranges and endurance, and will offer significant savings on fuel costs.

The demand for electrically powered aircraft is projected to reach hundreds of aircraft per year within the next decade. Increased use of electric propulsion should save hundreds of millions of dollars in fuel and maintenance costs. Environmental benefits include a significant reduction in air pollution and noise levels. While today’s electrical power is limited mainly to very light aircraft, IAI estimates that as the technology continues to mature, the market will diversify to short-range passenger airplanes and other configurations.

IAI has many years of experience in electric power systems for unmanned aerial vehicles, including the Panther and Mini Panther UAVs, vertical-takeoffand-landing Unmanned Airborne Vehicles, and the Bird Eye 650 reconnaissance vehicle.

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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)

 
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