web analytics
March 3, 2015 / 12 Adar , 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
U.S. President Barack Obama at White House Press Briefing.
Obama Says ‘Give Iran Talks a Chance; Israel Safer Than Ever
Latest Indepth Stories
Silwan, in the eastern part of Jerusalem, founded by Yemenite Jews in 1881

Kristof’s op-ed “The Human Stain” was flawed and wrong; more than anti-Israel, it was anti-Semitic.

Hur and Aharon holding up Moshe's hands as Joshua battled Amalek.

“Remember what Amalek did to you on your journey after you left Egypt-how undeterred by fear of G-d”

Illustration is by Israeli artist Hanalisa Omer

Stalin’s plan for the Soviet’s “final solution of the Jewish question” was totally assimilating them

Bibi and Obama: Head to Head

Many Jews oppose the speech fearing it will further erode relations between Israel & US. I disagree.

The University of Georgia Student Government Association called for more investment in Israel.

Without an alliance comparable to ISIS, Al Qaida & Iran, militant Islam will conquer the Middle East

Ultimately, Esther, Netanyahu, and we, the Jewish people, must and will rely on the true King, God, for our salvation from this genocidal threat.

Netanyahu addresses a clear, present & lethal threat to the US/Israel/WORLD; NOT political bickering

Buried in the tax-returns of the JCF is millions of dollars funneled to NIF in the last few years.

Bibi’s speech to Congress will bring respect and honor to the Jewish Nation from the US & the world

Obama & Putin have handwriting/signature clues indicating differences between public & private life

It’s time for a new Jewish policy regarding Ramallah, NOT just because of the yarmulke incident

“GETT’s” being screened for Israeli Rabbinical Court judges at their annual convention.

If Jackson were alive he’d denounce Democratic party’s silence towards virulent anti-Semitism

Victim of Palestinian Arab terrorism, a victor in NY federal court, after years of being ignored by Justice Dept.

March 2013: Arabs hurled stones hitting the Biton’s car; Adele’s mother swerved the car-into a truck

More Articles from Yoram Ettinger
Netanyahu carried his message to Americans through the media after meeting with President Obama and castigating Iran at the UN. (September 30, 2013)

Netanyahu addresses a clear, present & lethal threat to the US/Israel/WORLD; NOT political bickering

Symbol of the New Israeli Shekel

Israel is #2 most innovative country in the world attracting numerous global companies and investors

In recent years, the US-Israel relation has been transformed into a mutually-beneficial 2 way-street

A nuclear Iran compounds the clear&present lethal threat Iran poses to critical US&Western interests

Despite Western ‘Conventional Wisdom&PC,’ the Arab/Israeli conflict was never about the Palestinians

The West’s policy-making ambiguity and denial could trigger national and international calamities.

Despite claims that Israel is “isolated,” 2014 was a record year for foreign investment in Hi-Tech

{Originally posted on The Ettinger Report} “The demographic issue has become a source of profound controversy in Israel. Many see the demographic processes as a threat to the future of Israel as a state that is both Jewish and democratic, thereby necessitating rapid disengagement from the Palestinians, whether by means of a negotiated settlement or […]

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: