JTA NEWS
23 October 2014 - 29 Tishri 5775 - כ"ט תשרי ה' אלפים תשע"ה
JTA NEWS :
Business
New wafer plants to be set up in India E-mail

India has approved the setting up of semiconductor wafer plants by two consortia, including IBM Corp, Israel’s TowerJazz and STMicroelectronics NV, costing a total of US$10.17 billion.

India, which wants local production of chips to cut longterm import bills, has renewed a drive to attract investments after a previous attempt failed. The two groups had proposed building plants in India in September.

One of the consortia is made up of India’s Jaiprakash Associates Ltd and TowerJazz and IBM. It plans to set up a plant near New Delhi at a cost of US$5.52 billion, a government statement said. The second comprises HSMC Technologies India Private Ltd, Malaysia’s Silterra and STMicroelectronics. The group has proposed an investment of US$4.65 billion for a plant in the western Gujarat state, the statement added.

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New Israel-China fund closes US$100m financing round E-mail

Israel’s Catalyst Equity Management and Hong Kongbased China Everbright Limited investment fund announced in March the closing of a US$100 million round of financing for their new Catalyst CEL Fund. The fund will invest in Israeli companies that have technologies, products, and services that China needs.

The deal was closed in a special ceremony at Catalyst’s Tel Aviv office, attended by top executives of Catalyst and Everbright.

The Catalyst investment strategy selects Israeli-based private equity funds investing in late stage Israeli and Israeli related including companies from the telecom, IT, enterprise software, medical devices and bio/pharma sectors.

Edouard Cukierman is the Founder and Managing Partner of Catalyst Funds and serves as Chairman of Cukierman & Co Investment House. Since its establishment in 1993, Cukierman & Co Investment House has advised in more than €4 billion worth of corporate finance transactions.

Speaking to Reuters Edouard Cukierman, Managing Partner of the Catalyst CEL Fund said, “Our goal is to reach US$200 to US$300 million. We just had our first closing of US$100 million but we have strong interest from Chinese, Israeli and international investors to join the fund.”

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Strong attendance at the March Hong Kong International Jewellery Show E-mail

The Hong Kong International Diamond, Gem & Pearl Show’s opening ceremony at the Asia-Expo center was an impressive one, with representatives of the Israel Diamond Institute (IDI) and many industry leaders in attendance.

John Tsang Financial Secretary of the HKSAR Government visited the Israeli Pavilion and was greeted by Avraham Traub, President of the Israel Diamond Manufacturers Association. Other guests in attendence included Sagi Karni, Consul General of Israel to Hong Kong.

This year’s organisers the Hong Kong Trade and Development Council (HKTDC) introduced a new concept of two different shows in two venues as the organisers try to find a solution to the ever-increasing demand for exhibition space. The HKTDC Hong Kong International Diamond, Gem & Pearl Show took place from 3-7 March at the Asia World-Expo, showcasing rough materials for jewelry including diamonds. While the HKTDC Hong Kong International Jewellery Show took place from 5-9 March at the Hong Kong Convention & Exhibition Centre, concentrating on jewelry. Around 150 Israeli diamond companies participated marking a noticeable increase in participation compared to last year. There were 40 new Israeli diamond companies participating for the first time.

The Israel Diamond Institute focused its efforts on matching the buyers’ demands to the supply of products in the Israeli diamond market efficiently. The IDI’s pavilion also drew much attention this year as it featured the IDI’s “Find Your Diamond” software, which lists the inventory of all 85 Israeli diamond companies at the show. The software received positive reviews from visitors at the last show, and IDI responded to further develop it.

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Elbit Systems awarded defense contract Print E-mail

Elbit Systems Ltd has been awarded a US$290 million contract by a client in the Asia-Pacific region to perform a tank upgrade programme. The contract will be performed over three years.

Elbit Systems said that the upgrade programme would provide the tanks with night operation capabilities through advanced systems such as gunner sights and fire control systems.

Elbit Systems president and CEO Bezhalel (Butzi) Machlis said, “We are very pleased to be awarded this significant contract, demonstrating our unique capabilities and experience in upgrading main battle tanks. Asia-Pacific is one of Elbit Systems’ key markets and we are very glad to announce yet another success in this region.”

(Issue April 2014) 

 

 
Qoros unveils the eBIQE at the Geneva Motor Show E-mail

Israel Corporation and China’s Chery Automobile Company Ltd joint venture Qoros unveiled a prototype of a smart electric bicycle called the eBIQE at the 84th Geneva International Motor Show held in March.

The eBIQE Concept is created for the modern metropolitan consumer, with exceptional performance that can be used for commuting, leisurely rides or exploratory off-road adventures. It is a concept of a cloudconnected electric bike and showcases numerous Qoros design cues carried over from its production cars, as well as innovative technology and impressive performance.

Riders can choose to pedal with no assistance, pedal with assistance from the electric motor, or go with motor-power only. When using the motor, users can choose between three driving modes: Street, which limits top speed to 25 km/h so it may avoid being legally classified as a motorcycle in some countries; Eco, which maximises energy-efficiency; and Power, which allows for faster acceleration and a top speed of 65 km/h.

With 60 Nm of torque available throughout the rev range, on battery power alone, the eBIQE Concept in this mode can reach 25 km/h in an impressive two seconds. It has a charge time of just 80 minutes from any regular power outlet – perfect for the city dweller.

The connected technology used in the eBIQE Concept is based on the innovative Qoros Qloud platform (which is standard on most Qoros cars) and adapts its functionality for application to the electric bike to ensure it delivers highly relevant features and services for the rider.

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