web analytics
May 29, 2015 / 11 Sivan, 5775
At a Glance
InDepth
Sponsored Post


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.

Current Top Story
Prime Minister Binyamin Netanyahu.
Israel Envisions Regional Cooperation with Arab Nations
Latest Indepth Stories

As for the president’s new, softer tone vis-à-vis Prime Minister Netanyahu and Israel, this is most likely being driven by the results of the recent Israeli election.

What especially appeals to us is his grand – some critics would say extravagant –view of what the borders of Israel should look like.

There was something else of great importance in play – something we would have liked to see him take into account before deciding to stand with the boycotters.

Front-Page-052915

The establishment of Hebrew University was a cause much beloved to Einstein who in 1923, during what would be his only trip to Eretz Yisrael, delivered the university’s inaugural lecture on Har Hatzofim (Mt. Scopus) and, discussing the theory of relativity, spoke the first few sentences of his address in Hebrew.

The Golden Square wanted Germany to destroy the British and Jewish presence in their country. The Third Reich craved what was beneath the ground – oil.

Ida Nudel’s account of how the Soviets persecuted and punished her was far worse than imagined.

Swim4Sadna is an annual event benefiting Sadna, an integrative special-ed community in Gush Etzion

Prof. Wistrich, was THE foremost historian of anti-Semitism; committed spokesman & advocate of Jewry

Jewish Voices for Peace’s 2015 Haggadah is a blatant anti-Israel screed crying, “L’chayim to BDS!”

On his shloshim, I want to discuss a term I’ve heard countless times about Rav Aharon: Gedol HaDor

After obsequious claims of devotion to Israel, Obama took to criticizing Israel on peace process

Mr. Obama, Israeli voters have democratically chosen to apply Israeli sovereignty over Judea&Samaria

Netanyahu so disdains Shaked’s appointment he completely ignored her after the swearing-in ceremony

Ronen Shamir’s just the latest tenured Leftist convicted of sexual misconduct with his own student

More Articles from Yoram Ettinger
israeli-american flags

Pentecost, derived from the Greek word for 50, is celebrated 50 days after Easter.

President Obama

Realizing there was no US military threat, Iran resumed, expanded & accelerated its nuclear program

Suspension of disbelief towards Iran characterizes the Pres. administrations of both Carter & Obama

At 67, Israel reaffirms a historic fact: Pressuring the “Jewish Olive” produces superb oil!

The Constitution created history’s most powerful legislature & inherent foreign policy power battle

A serious peace-driven agreement and the nature of the Ayatollahs is the definition of an oxymoron

Defense, scientific and commercial cooperation between the US and Israel is surging unprecedentedly, in defiance of the unbridgeable gap between the worldviews of President Obama and Prime Minister Netanyahu. For example, 250 major US high-tech companies maintain research and development centers in Israel, which has become a major source of cutting-edge innovative technologies, improving US […]

German poet Heinrich Heine: “Since the Exodus, freedom has always been spoken with a Hebrew accent.”

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: