JTA NEWS
21 August 2019 - 20 Av 5779 - כ' אב ה' אלפים תשע"ט
JTA NEWS :
Business
Mitsubishi Corporation to open an innovation centre in Tel-Aviv Print E-mail

Japan’s Mitsubishi Corporation announced in May that it will open an Israel development centre in TelAviv, Israel’s Ministry of Economy and Industry reported, which will scout for investments in startups.

“In the past two years, company representatives have begun to examine whether they should expand their activity in Israel and focus more on technological cooperation, including investments in Israeli companies,” the ministry said.

Over the past four years, the Ministry of Economy and Industry say more than 70 Japanese companies have opened representative offices in Israel. Over that period, Japanese companies have invested more than US$5 billion in Israel.

Last year, Renault-Nissan-Mitsubishi (not related to Mitsubishi Corp.) set up a US$1billion venture capital fund, which has an Israel office.

(Issue Jul/Aug 2019)

 
Cooperation agreements signed between Sichuan province and Israel E-mail

During a Sichuan investor conference in May, a total of 18 cooperation agreements and Memorandums of Understanding (MoUs) were signed between China’s southwestern province of Sichuan and Israel.

Delegates from the Sichuan provincial government, research and education institutions, and various companies signed these documents with Israeli partners at the China (Sichuan)-Israel Science, Technology, and Trade Conference.

The value of the agreements signed in the sectors of economy, trade, and investment surpassed US$350 million.

Prior practical cooperation between the two sides has been conducted in sectors comprising science, technology, economy, trade, education, and culture, garnering fruitful achievements in recent years, said Peng Qinghua, secretary of the Sichuan Provincial Committee. Peng believed there is a great potential for both sides to further deepen innovation cooperation in the future.

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Strong turnout for GoforIsrael conference in China E-mail

Firms in the fields of biotech, water tech, environmental tech, IT, and energy headed to the Chinese city of Jinan for the annual GoforIsrael conference in May. It was organised by the Cukierman & Co Investment House (a leading Israeli investment company), and the Catalyst CEL Fund (a private Israeli equity firm).

Organisers claim that 108 Israeli companies participated in the event, including pharmaceutical company Raziel Therapeutics, cervical cancer-detecting sensor firm MobileODT, green pest control company Biofeed, and 3D printing company Xjet.

GoforIsrael (previously known as GoforEurope) has been one of the most influential business conferences held between Israel and China annually. The Conference addresses current issues in fundraising, and establishes strategic alliances globally between Israeli companies, businesses, and financial institutions. Around 1,400 participants, over 1000 Chinese investors and around 100 of the most innovative Israeli technology companies, gathered for the occasion.

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Israel Diamond Pavilion at Hong Kong Jewellery & Gem Fair E-mail

The Israel Diamond Pavilion hosted 30 companies this year at the June Hong Kong Jewellery & Gem Fair, which recently took place from 20 – 23 June at the Hong Kong Convention & Exhibition Centre.

The pavilion, which is organised by the Israel Diamond Institute (IDI), was located in the diamond area in Hall 3BC. As in previous years, it included a spacious loungethis time a renovated, modern designwith refreshments served throughout the day. Convenient “Get Diamonds” terminals enable buyers to search a computerised database in both English and Chinese of all goods offered by Israeli exhibitors at the show. Buyers are also able to access the Get Diamonds Show system on their smartphones.

Asia is Israel’s second largest market for polished diamonds, representing about 30% of total polished diamond exports, with the greatest share going to Hong Kong. Israel is also an important supplier of pol ished diamonds to China, India, Thailand, Singapore, Taiwan, Japan and other Asian markets.

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India looking to acquire SPICE bombs E-mail

According to local media, the Indian Air Force is looking to acquire an advanced version of the SPICE-2000 bombs from Israel to strengthen its arsenal.

SPICE stands for ‘smart, precise-impact and cost-effective’ and is manufactured by the Israeli defence technology company Rafael Advanced Defense Systems.

“The Air Force is looking to buy an advanced version of the SPICE-2000 bombs which can destroy bunkers,” sources told India Today TV.

The bombs acquired would be able to destroy buildings using the explosive warhead. The earlier version was capable of penetrating and then bursting inside buildings. The penetration warheads, SPICE-2000s, were used by the Indian Air Force in Balakot airstrikes, during which Jaish-e-Mohammed’s (JeM) terrorists hiding inside the building were killed.

The bombs created holes and then entered the terrorists hideout where intelligence agencies had estimated that close to 300 Jaish cadres were hiding one day before the airstrike, which took place in the early hours of 26 February. The airstrikes in Pakistan’s Balakot were conducted days after JeM carried out a terror attack in Jammu and Kashmir’s Pulwama.

The Indian Air Force is also planning to equip the fleet of its Sukhoi 30 fighter aircraft with the SPICE-2000 bombs to give them more teeth during aerial conflicts with enemy forces.

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