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April 30, 2016 / 22 Nisan, 5776

Posts Tagged ‘investment’

Silicon Valley Fund Investing in Israeli Startup to Streamline Startups [video]

Tuesday, January 5th, 2016

(JNi.media) The “500 Startups” Venture Capital Fund is investing in Israeli startup RapidAPI, which developed a platform to allow people with ideas for new applications to turn their initiative into reality quickly and easily. 500 Startups is the second largest startup accelerator in the global hi tech industry with an overall investment volume of $200 million. RapidAPI had already attracted investments from Dov Moran, the Israeli inventor of the USB memory stick, and Marius Nacht, founder and chairman of CheckPoint Software Technologies.

The RapidAPI startup was developed by Iddo Gino, 18, who’s been rolling millions in the hi tech industry employing people his parents’ age. “When I was about 11, I went with my dad to his workplace, and I sat with one of the programmers and saw all the cool stuff he was doing,” Iddo told Israel 21c back when he was but a lad of 17. “He showed me a program he made to sort out seating for his son’s bar mitzvah automatically. Then he gave me a book to learn how to program. And from there, one thing led to another.”

This time around, Gino noticed that most apps share common operations such as entering user name and password, purchases, and data keeping. So he developed all of these components as off-the-shelf products any developer can borrow and insert in their program without having to write a single line of original code.

Gino says he’s seen many good ideas getting stuck in the realization phase, which requires using highly paid coders. According to Gino, using RapidAPI can reduce development costs by as much as 70%, allowing many more developers to make their life’s dream come true and accelerate the development of many new applications.

Which is what the world needs.

JNi.Media

Warren Buffet Buys Out Israeli Firm for $2 Billion

Wednesday, May 1st, 2013

Warren Buffett’s Berkshire Hathaway is paying $2.05 billion for the remaining 20 percent of IMC International Metalworking Co, otherwise known as Isracar, completing the buyout that began with the giant $4 billion purchase of 80 percent of the company in 2006.

“We are delighted to acquire the portion of the company that was retained by the Wertheimer family when IMC first became a member of the Berkshire group of companies,” Buffett said Wednesday in a statement.

“As you can surmise from the price we’re paying for the remaining interest, IMC has enjoyed very significant growth over the last seven years,” Buffett, 82, said.

Isracar employs more than 2,000 people in Israel and 7,500 others around the world.

Buffett has literally fallen in love with Israel. The 2006 purchase of most of Isracar was Buffett’s largest-ever investment outside of the United States.

When he visited Israel prior to the spectacular purchase of the precision carbide cutting tools company, he said, “If you’re going to the Middle East to look for oil, you can skip Israel. If you’re looking for brains, look no further. Israel has shown that it has a disproportionate amount of brains and energy.”

Since then, an American-Israeli consortium drilling off the Haifa coast has made the world’s largest discovery of natural gas in the past 20 years, with a strong possibility of commercial quantities of oil.

Buffet’s purchase of the rest of Isracar on Wednesday helped strengthen the shekel against the dollar, with the going rate for a greenback now less than 3.58 shekels.

Tzvi Ben-Gedalyahu

What Israel Did for IBM and What IBM Did for Israel

Wednesday, April 24th, 2013

Doug interviews Meir Nissensohn, former general manager of IBM in Israel. Mr. Nissensohn explains why IBM came to Israel, what investment opportunities Israel offers to large, multinational companies and what these companies can give to Israel in return. Also find out why Israel has so many startup companies and why businesses and the Israeli economy continue to prosper on the second part of this week’s Goldstein on Gelt podcast.

Doug Goldstein, CFP®

The True Meaning of Financial Liberation

Sunday, March 24th, 2013

As Pesach approaches, the themes of freedom and liberation from slavery are prominent in a Jew’s mind. Indeed, the message of Pesach is one of the most powerful Jewish experiences, and many otherwise non-religious Jews find their way to a Pesach Seder.

Slavery in Egypt may seem like a distant memory to many Jewish Press readers, but take a moment to consider whether you are truly free. After all, doesn’t modern slavery come in the form of debt, overdraft, and heavy bills?

How free can you be facing bills, debts, long work hours and/or demanding employers? Can you consider yourself free if you spend nights worrying about how you will make it through the end of the month?

Maybe you and your spouse are both working full time. But those bills just keep coming in. You’re not even wasting your money on fancy vacations or designer clothes. Yet there seems to be a permanent hole in your bank account. Bills and expenses seem to pursue you wherever you go. You can feel like a slave.

Although everyone has his own story, one common thread to many families’ financial woes is that they aren’t managing their money properly. Unfortunately, money management and budgeting skills don’t occupy the same place on the school curriculum as math or history. As a result, many people never learn how to properly take care of their money, and they stumble and struggle to meet their daily expenses. Budgeting and financial planning need to be learned, no matter how old you are or at what stage of life you find yourself.

Successful finances require keeping track of spending and income. Start by keeping your receipts and noting down your daily expenses.

Learning to budget and plan efficiently can help liberate you from the slavery of overspending, fiscal disorganization, and debt.

Doug Goldstein, CFP®

Who Needs Insurance? (Podcast)

Wednesday, March 6th, 2013

In the second part of this week’s Goldstein on Gelt podcast, Doug gives important information about retirement, insurance, and pensions in Israel. If you’re an oleh or you are considering moving to Israel, find out which kinds of insurance would be most suitable for you and your family. Don’t miss out on these vital facts. Listen to this part of the podcast for more.

Doug Goldstein, CFP®

What You Need in Order to Retire (Podcast)

Wednesday, February 6th, 2013

When should you start planning for retirement? In your twenties, or in your fifties? In the second part of this week’s Goldstein on Gelt show, Doug meets Terry Savage, a well-known expert on personal finance. Terry, author of The New Savage Number: How Much Money Do Really You Need to Retire? tells us why time is more important than money and why you need to start planning for retirement even when you’re still young. Find out more about what you need for your golden years and when you should start teaching your kids about money.

Doug Goldstein, CFP®

Israel’s Economy Endures Global Economic Meltdown

Sunday, January 6th, 2013

1.  Israel’s 2009-2012 economic growth of 14.7% leads the OECD countries, ahead of Australia – 10.7%, Canada – 4.8%, USA – 3.2%, Germany – 2.7%, France – 0.3%, Euro Bloc – 1.5% decline.  Israel’s growth was undermined by the stoppage of natural gas supply from Egypt, which requires the acquisition of more expensive sources of energy (“Israel Hayom”, Jan. 2, 2013).

2.  Israel’s 2012 economic growth, 3.3%, leads the OECD countries which average 1.4% growth, ahead of the US (2.2%), Canada (2%), Japan (1.6%), Brazil (1.5%), Germany (0.9%), France (0.2%), Britain (0.1% decline), Spain (1.3% decline) and Italy (2.2% decline), trailingIndia’s 4.5% and China’s 7.5% .  Israel’s growth per capita, 1.5%, exceeds OECD’s average of 0.7%.  Israel’s unemployment, 6.9%, is lower than the OECD (other than Germany’s and Japan’s) which averages 8%.  Israel’s private consumption increased 2.8%, compared with the OECD average of 1%.  Notwithstanding the global meltdown, Israel’s exports grew 1% at a time when most countries experience a substantial decline in exports (Globes Business Daily, December 31, 2012).

3.  Israel’s 2012 tourism – all time high of 2.9 million tourists, compared with 2.8 million in 2011.  American tourists lead the pack, ahead of Russia, France, Germany and Britain. Domestic tourism grew 3% (Ma’ariv, December 25).

4.  Australia’s $30BN Woodside Petroleum (WPL) is acquiring 30% of the rights of Israel’s Leviathan offshore natural gas field licenses for $696MN upon signing the agreement in February, 2013, $200MN upon launching exports, $350MN upon final decision to invest in liquefied natural gas export facilities, 11.5% royalties up to $1BN and $50MN for immediate oil exploration underneath Leviathan.  Woodside explores investment in additional Israeli offshore natural gas licenses (Globes, Dec. 4).

5.  The $1.6BN Minnesota-based Stratasys merged with Israel’s $1.4BN Objet (3D printers manufacturer), a week following the acquisition of Israel’s Retalix, by NCR, for $800MN. Objet’s market value before the merger was $634MN (Globes, Dec. 4).  The $10BN Wollingford, CT-based Amphenol acquired Israel’s Tel-Ad for $65MN; the US storage giant, EMC, made its 5th Israeli acquisition, More IT Resources, for $15MN.  EMC employs 1,000 persons in its Israeli research and development centers (Globes, Dec. 3).  Israel’s CrossRider was acquired by an overseas unidentified company for $37MN (Globes, Dec. 17).  The Menlo Park-based Greylock Venture Partners and the Palo Alto-based Norwest Venture Partners led a$12MN 1st round of private placement by Israel’s ScaleIO (Globes, Dec. 11).

6.  Google inaugurated its Israeli Start Ups Incubator, signaling its aim to expand its Israel operations (Globes, Dec. 11). The Holland-based Philips announced the establishment of a new research & development center in Israel, which will employ scores of scientists and engineers.  Philip’s research & development center in Haifa – which coordinates special applications developed in Israel the US, Holland and India – employs 600 persons, specializing in CT 3D imaging (Globes, Dec. 13).

7.  Electricite’ de France’s (EDF) renewable energy unit inaugurated its first three projects in Israel’s Negev – a $65MN investment.  EDF plans additional ventures in Israel, demonstrating its confidence in the viability of Israel’s economy (Globes, Dec. 19).

Visit The Ettinger Report.

Yoram Ettinger

Printed from: http://www.jewishpress.com/indepth/analysis/the-ettinger-report/israels-economy-endures-global-economic-meltdown/2013/01/06/

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