web analytics
September 23, 2014 / 28 Elul, 5774
At a Glance
InDepth
Sponsored Post
Meir Panim with Soldiers 5774 Roundup: Year of Relief and Service for Israel’s Needy

Meir Panim implements programs that serve Israel’s neediest populations with respect and dignity. Meir Panim also coordinated care packages for families in the South during the Gaza War.



Yoram Ettinger: Israel’s Economic Culture Praised Despite Global Financial Gloom

Gas platform

Photo Credit: Nati Shohat/Flash90

While the global economy deteriorates and its ripple effects erode Israel’s economic indicators (e.g., unemployment increased to 7%), there is cause for optimism in the Holy Land:

–Frans Van Houten, the CEO of the Dutch giant, Philips Global recently told Globes Business Daily (Aug. 2, 2012): “Israel’s economic and organizational culture is consistent with Philips’ requirements…. Philips owes part of its enhanced performance [2nd quarter’s earnings – 17% above projections] to Israel’s excellent engineers in the imaging, data processing and data storage areas.  Philips has expanded its Israeli presence and acquisitions since 1999, when it acquired part of Israel’s Elscint, then Israel’s CDP and CDC…. Philips will expand its current 600 employee research & development center.”

–Marcos Battisti, head of Intel Capital in Europe and Israel, hired additional investment directors in Israel, expanding Intel’s pursuit of Israeli start ups.  Since 1991, Intel Capital invested in 60 Israeli companies, collaborating with Intel’s four research & development centers and two manufacturing plants in Israel (Globes, July 26).

–Israel’s Kayak raised $91MN in a Wall Street IPO led by Morgan Stanley (Globes, July 23).  Abingworth Ventures, 7 MedHealth Ventures, Arch Ventures, MPM Capital and F3 invested $38MN in a round of private placement by Israel’s Chiasma (Globes, July 24).  Battery Ventures and Bessemer Ventures led a $12MN round of private placement by Israel’s Vayyar Imaging (Globes, Aug. 3).

–Is Israel a future energy superpower?  Walter Russell Mead, Editor at-large of the Washington, DC-based bimonthly magazine The American Interest, which specializes in global economy and international affairs, July 2, 2012: “Canada and Russia are moving to step up energy relations with Israel….Israel and Canada have just signed an agreement to cooperate on the exploration and development of what could be vast shale oil reserves beneath the Jewish State…. The Russian Gazprom and Israel have announced plans to cooperate on gas extraction…. Drillers working in Israeli waters have already identified what seems to be 5 billion barrels of recoverable oil, in addition to over a trillion cubic feet of gas. Israel’s undersea gas reserves are currently estimated at about 16 trillion cubic feet and new fields continue to be rapidly found…. Another sensible target for Israeli energy diplomacy would be India… eager to diversify its energy sources…. According to the World Energy Council, a leading global energy forum, Israel may have the 3rd largest shale oil reserves in the world: something like 250 billion barrels (US – well over 1 trillion barrels; Canada – 2 trillion barrels)…. OPEC’s power to dictate world prices is likely to decline as Canadian, US, Israeli and Chinese resources come on line… An energy-rich Israel… is also going to be a more valuable ally…. The impact of Israel’s energy wealth is dramatic.  On President Putin’s visit to Jerusalem he donned a Kippah (skullcap) and went to pray at the Western Wall.  Turning to the Wall, he said: ‘here we see how the Jewish past is etched into the stones of Jerusalem….’  In the meantime, we wonder if there was an 11th Commandment at Sinai: ‘Thou shalt drill, baby, thou shalt drill.’”

Originally published at http://www.theettingerreport.com/Overseas-Investments/Israel%E2%80%99s-Economic-Culture-Praised-by-Philips-Globa.aspx 

About the Author: Ambassador (ret.) Yoram Ettinger is consultant to Israel’s Cabinet members and Israeli legislators, and lecturer in the U.S., Canada and Israel on Israel’s unique contributions to American interests, the foundations of U.S.-Israel relations, the Iranian threat, and Jewish-Arab issues.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Yoram Ettinger: Israel’s Economic Culture Praised Despite Global Financial Gloom”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
NY rally against Met Opera's 'Death of Klinghoffer' opera. Sept. 22, 2014.
New York City Site of Huge Rally Against Met’s Klinghoffer Opera
Latest Indepth Stories
William Safire

“It’s a lousy column and a dishonest one,” Halberstam wrote. “So close it. Or you will end up just as shabby as Safire.”

Particularly galling was the complaint by one Jo Anne Simon about Judge Dear’s supposed “mobilizing on behalf of apartheid and his insensitivity to minority communities.”

Whatever one has to say about Iran, it does have clout in the Middle East and the Gulf region and could play a key role in addressing the ISIS threat.

Rav Shlomo Wolbe states that every member of Klal Yisrael is dependent on the entire nation just as a leaf depends on the tree from which it grows.

“Israel must prepare for waves of immigrants from Arab countries, which may endanger its existence”

“I pray that fellow Jews open their eyes & connect themselves to the national side of being a Jew”

The big service ISIS is doing the West right now is checking Iranian power, just as the Sunni rebels inside Syria are keeping the Iranian agent Hezbollah in check, and just as the PLO is keeping Hamas in check, at least to some degree.

Research shows that high doses of marijuana can produce acute psychotic reactions, lower IQ in teens

The current missionary problem in Samaria is still relatively unknown throughout Israel&to most Jews

Rosh Hashanah is a universal, stock-taking, renewal and hopeful holiday,

No mutual clash between parties, it was Jews repeatedly attacked by Arabs, not the other way around.

Israel would love to be in the coalition,but it’s never going to happen, because, in the end, most of America’s allies would walk away if Israel were on board officially.

Why has his death been treated by some as an invitation for an emotional “autopsy”?

SWOT analysis: Assessing resources, internal Strengths&Weaknesses; external Opportunities&Threats.

More Articles from Yoram Ettinger
Jewish Holidays' Guide for the Perplexed

Rosh Hashanah is a universal, stock-taking, renewal and hopeful holiday,

0.5-Shekel-hatasham-RJP

The War projects to lower Israel’s 2014 GDP 0.5% but will have little influence on foreign investors

Pres. Obama claims there’s no Islam-driven terrorism or radicalism, only “local” cases of terrorism.

Kerry is preoccupied with pressuring Israel, notwithstanding the transformation of the Arab Spring .

Regional pro-US Arab countries rely on Israel as a deterrence to rogue Islamic regimes.

The 49 days between Passover and Shavou’ot are dedicated to enhancing one’s behavior, following in the footsteps of the Jews, who forged/enhanced their own national character during the 40 years in the desert.

The elimination of Jews was the top priority of the Grand Mufti of Jerusalem, Haj Amin al-Husseini.

Abbas – an ally of Saddam Hussein, North Korea, Iran, Cuba and Venezuela – provides Hamas with a vital tailwind.

Printed from: http://www.jewishpress.com/indepth/analysis/yoram-ettinger-israels-economic-culture-praised-despite-global-financial-gloom/2012/08/08/

Scan this QR code to visit this page online: