Israel Business & Economics

German banks close accounts for Marxist-Leninist Party with ties to Palestinian terrorists

jpost.com

German banks close accounts for Marxist-Leninist Party with ties to Palestinian terrorists


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Germany's central bank will examine its years under Nazi occupation

jpost.com

Germany's central bank will examine its years under Nazi occupation


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British Airways looking to Israeli startups for airline tech

timesofisrael.com

British Airways looking to Israeli startups for airline tech


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Anthony Scaramucci to join Jewish group’s investment trip to Israel

timesofisrael.com

Anthony Scaramucci to join Jewish group’s investment trip to Israel


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Teva cuts sales forecast for 2017 amid competition to flagship Copaxone drug

timesofisrael.com

Teva cuts sales forecast for 2017 amid competition to flagship Copaxone drug


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Teva shares plunge gain after weak third-quarter earnings

jpost.com

Teva shares plunge gain after weak third-quarter earnings


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Israel fintech firms head to Japan for business opportunities

timesofisrael.com

Israel fintech firms head to Japan for business opportunities


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Home / Israel / Business
Israel's Cellcom Q3 profit, revenue fall
TEL AVIV, Nov 22 (Reuters) - Cellcom , Israel’s largest mobile operator, reported a 3 percent drop in third quarter net profit, weighed down by lower revenue and higher taxes. Cellcom said on Wednesday it earned 32 million shekels ($9.1 million) in the quarter, down from 33 million a year earlier. Revenue slipped 1.7 percent to 975 million shekels, with the company attributing it to price erosion from competition   Read More ...
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Tags: Corporate |  Enterprises |  Profits | 
Places: Americas |  North America |  United States |  Asia |  Mideast |  Israel | 
Bank of Israel: Arab Citizens of Israel, 21% of the Population, Hold Only 2% of Mortgages
Israel's central bank cites problems in Arab towns like disorderly land registries and difficulty repossessing homes as the main barriers to getting mortgages.   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel | 
Israel's Partner Comms Q3 profit beats estimates
JERUSALEM, Nov 21 (Reuters) - Partner Communications , Israel’s second-largest mobile phone operator, reported on Tuesday higher third quarter profit that beat estimates, though revenue slipped as the company lost. The company’s operating expenses dropped 16 percent to 477 million shekels and finance costs fell by half to 15 million shekels. Revenue dipped 3 percent to 826 million shekels, with its subscriber base falling by 16,000 over the prior year to 2   Read More ...
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Tags: Corporate |  Enterprises |  Profits | 
Places: United States |  Asia |  Mideast |  Israel | 
UK investors to visit Israel on business opportunity quest
than 35 British investors will be part of a delegation that is starting a three-day visit to Israel this week, organized by the chamber of commerce UK Israel Business (UKIB), the largest delegation to date organized by the body, which aims to connect businesses in the two nations. The delegation will hold meetings with firms hosted by Microsoft Ventures, Intel, and Barclays Rise Accelerator   Read More ...
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Places: Asia |  Mideast |  Israel |  United Kingdom | 
Germany sanctions Iran's Bank Sepah
Germany's Federal Financial Supervisory Authority (BaFin) announced on Tuesday that the agency imposed a credit ban on Iran's Bank Sepah for violating the country's credit law. Bank Sepah was previously sanctioned for its role in aiding Tehran's missile program. Sabine Reimer, a BaFin spokeswoman, told The Jerusalem Post on Friday that "a credit ban against Bank Sepah's branch in Frankfurt was imposed because the institution violated the requirements of the rules of a business organization according to paragraph 25a of the lending law   Read More ...
Categories: Business | 
Places: Asia |  S. Asia |  Iran |  Mideast |  Israel |  Germany | 
German banks close accounts for Marxist-Leninist Party with ties to Palestinian terrorists
The Marxist-Leninist Party of Germany announced on Thursday that the Deutsche Bank and the Postbank shut down all of the party's bank accounts in Germany. The anti-Israel Marxist-Leninist Party has been engulfed in an election scandal alleging it campaigned during the federal election with The Popular Front for the Liberation of Palestine (PFLP)--an EU and US designated terrorist organization. Be the first to know - Join our Facebook page   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel |  Palestine |  Germany | 
Israeli Parliament Eases Regulation On Startup Equity Crowdfunding
On Tuesday, the Israeli Parliament amended a series of regulations that will ease fixed-income debt crowdfunding for startups and small businesses. For daily updates, subscribe to our newsletter by clicking . Current Israeli legalization allows private companies to raise funding from banks or institutional investors, venture funds, angels, or raise capital and debt financing from a group of up to 35 accredited investors   Read More ...
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Places: Asia |  Mideast |  Israel | 
Israel's Elbit Systems Q3 profit up as defence budgets grow
TEL AVIV, Nov 14 (Reuters) - Israeli defence electronics firm Elbit Systems reported higher third-quarter net profit on Tuesday and said its backlog of orders has expanded due to growing defence budgets in its target markets. The maker of drones, pilot helmet displays and cyber security systems said it earned $1.57 per diluted share excluding one-time items in the three-month period, up from $1   Read More ...
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Tags: Corporate |  Enterprises |  Profits | 
Places: United States |  Asia |  Mideast |  Israel | 
Three Israeli start-ups raise $180m. in just 24 hours
Three Israeli or Israeli-founded startups – Compass, Yotpo and Mitrassist – collectively raised more than $180 million on Wednesday, a sign that international venture capitalists are flocking to Israel’s burgeoning hi-tech scene as a place to invest. We're happy to announce that #Yotpo raised $51 million! Thank you to all our investors! https://t.co/fsECxKrP8X pic.twitter.com/D1WZQsWguB. — Yotpo (@Yotpo) Compass, whose software introduces buyers and renters to real estate brokers, said that it raised $100m   Read More ...
Categories: Business | 
Tags: Enterprises |  Start-ups | 
Places: Asia |  Mideast |  Israel | 
Germany's central bank will examine its years under Nazi occupation
The Deutsche Bundesbank, Germany’s post-war central bank, has announced plans to research the history of the national banking system, including its predecessor institutions, from 1923 to 1969, with a special focus on the Nazi years.Historians Albrecht Ritschi of the London School of Economics and Magnus Brechtken of the Munich-based Institute for Contemporary History will lead the project, which will include examining the history of the Nazi-era Reichsbank, the postwar Bank Deutscher Länder and the early years of the Deutsche Bundesbank, which was established in 1957   Read More ...
Categories: Business | 
Places: Israel |  Germany | 
British Airways looking to Israeli startups for airline tech
British Airways is in touch with Israeli startups to keep the airline up to speed with the latest technologies, the CEO and chairman Alex Cruz said at a press conference Thursday, marking 85 years of the London-Tel Aviv route. The airline, the UK’s largest by fleet announced this week a new £4.5 billion ($5.9 billion) investment program that will be spread over five years   Read More ...
Categories: Business | 
Tags: Enterprises |  Start-ups | 
Places: Asia |  Mideast |  Israel |  United Kingdom | 
Germany’s central bank will examine its history, focusing on the Nazi years
The Deutsche Bundesbank, Germany’s post-war central bank, has announced plans to research the history of the national banking system, including its predecessor institutions, from 1923 to 1969, with a special focus on the Nazi years. Historians Albrecht Ritschi of the London School of Economics and Magnus Brechtken of the Munich-based Institute for Contemporary History will lead the project, which will include examining the history of the Nazi-era Reichsbank, the post-war Bank Deutscher Lander, and the early years of the Deutsche Bundesbank, which was established in 1957   Read More ...
Categories: Business | 
Places: Israel |  Germany | 
Jerusalem pulls out red carpet for founders of start-ups from around the world
When you hear “Jerusalem,” what comes to mind? One young Australian start-up founder thought of religious strife and old buildings, before he toured local start-ups and met with Jerusalemite venture capitalists.“It’s nowhere as old as I thought,” said 22-year-old Lachlan Fitzpatrick, who is creating a gamified math app that allows students to compete with each other and solve problems. “My impression now of Jerusalem is that it’s a very superopen city, that it’s not a stereotypical part of the Middle East   Read More ...
Categories: Business | 
Tags: Enterprises |  Start-ups | 
Places: Asia |  Mideast |  Israel | 
It's the economy, stupid
One of Israel's prime time evening news programs ran a series on what it called the Palestinian middle class. It featured glitzy hotels, shopping malls, and restaurants in Ramallah and other West Bank cities, interviews with managers and patrons, details of West Bankers, Israeli Arabs, and overseas tourists sharing in what seems like the good life, and interviews with individuals seeing their future in Palestinian high tech   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel | 
Consumer review platform co Yotpo raises $51m
Israeli user-generated content marketing platform Yotpo has raised $51 million in a financing round led by Claltech, the technology investment arm of Len Blavatnik's Access Industries. Vertex Venture Capital also participated in the financing round as well as previous investors Bessemer Venture Partners, Vintage Investment Partners, Blumberg Capital, Radium and others. The Tel Aviv based company, which also has offices in New York City, has raised $101 million to date including $22 million earlier this year and $15 million last year   Read More ...
Categories: Business | 
Tags: Finance |  Investments | 
Places: Asia |  Mideast |  Israel |  New York | 
Jerusalem elbows its way into a spot on Israel’s tech scene
Move over Tel Aviv. It’s Jerusalem’s turn to take center stage on the startup scene. That could be the slogan of a weeklong pilot program, StartJLM, that drew young entrepreneurs from 24 countries around the world to take part in an all-expenses paid insider tour of Jerusalem’s startup ecosystem. The project is the result of a partnership between the Jerusalem Development Association (JDA) and the Foreign Ministry, which collaborated to organize startup competitions run out of Israeli embassies worldwide, bringing the winners to Jerusalem   Read More ...
Categories: Business | 
Tags: Enterprises |  Start-ups | 
Places: Asia |  Mideast |  Israel |  Jerusalem |  Jerusalem | 
Anthony Scaramucci to visit Israel on investment tour
Former White House communications director Anthony Scaramucci will join an Orthodox Jewish group on an investment trip to Israel.The Wall Street-based Orthodox Jewish Chamber of Commerce will host what it is calling an Executive VIP trip to Israel later this month. Other prominent American business leaders will join the trip, according to the group. Be the first to know - Join our Facebook page   Read More ...
Categories: Business | 
Tags: Finance |  Investments | 
Places: Asia |  Mideast |  Israel | 
Anthony Scaramucci to join Jewish group’s investment trip to Israel
Former White House communications director Anthony Scaramucci will join an Orthodox Jewish group on an investment trip to Israel. The Wall Street-based Orthodox Jewish Chamber of Commerce will host what it is calling an Executive VIP trip to Israel later this month. Other prominent American business leaders will join the trip, according to the group. Scaramucci, a financier, spent 10 days at his White House job before being let go in part because of an obscenity-laden interview he gave to The New Yorker magazine   Read More ...
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Tags: Finance |  Investments | 
Places: Asia |  Mideast |  Israel | 
Israeli talent ‘very important’ for Cadence business, CEO says
Lip-Bu Tan, president and CEO of Cadence Design Systems, Inc., a US public company that develops software tools that allow semiconductor companies to make their chips, said the company is always on the lookout for new acquisitions of Israeli technologies to integrate within its products. “We are always looking,” said Tan in an interview with The Times of Israel on Monday in Tel Aviv, as the company held its annual conference, its 16th, in Israel   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel | 
HOT 3Q profit more than doubles
Cable company HOT published its third-quarter results over the weekend, showing a 139% surge in profit to NIS 74 million. HOT said it brought in NIS 168 million in net income in the first nine months of 2017 compared to just NIS 23m. in the same period last year.Since the beginning of 2017, the company reported NIS 3.1 billion in revenue compared to less than a third of that in 2016   Read More ...
Categories: Business | 
Tags: Corporate |  Enterprises |  Profits | 
Places: Asia |  Mideast |  Israel | 
Teva cuts sales forecast for 2017 amid competition to flagship Copaxone drug
Israeli drugmaker Teva Pharmaceutical Industries Ltd. on Thursday reported a net profit of $530 million in the third quarter, compared to $348 milion in the same period a year earlier. Revenues for the quarter rose 1 percent to $5.6 billion, the company said in a statement. The profit was below analyst estimates. The company cut its revenues outlook for the year, to $22   Read More ...
Categories: Business | 
Tags: Corporate |  Enterprises |  Profits |  Sales | 
Places: Asia |  Mideast |  Israel | 
Teva shares plunge gain after weak third-quarter earnings
Israeli drug giant Teva Pharmaceutical Industries reported dismal third-quarter earnings on Thursday, sending its stock into a tailspin as the world’s largest generic drugmaker faces rapidly falling prices of generic drugs in the US market.Teva’s shares fell by 13.65% on the Tel Aviv Stock Exchange and by nearly 20% on the Nasdaq as of 3 p.m. in New York on Thursday, having lost some 65% in value since August   Read More ...
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Tags: Corporate |  Enterprises |  Earnings | 
Places: Asia |  Mideast |  Israel | 
Israel's Viola Ventures closes $170m VC fund
Israeli venture capital fund Viola Ventures formerly Carmel Ventures, announced today its new fund with commitments of over $170M towards a target of $200 million. This is the fifth fund raised by the Viola Ventures team, which now has over $1 billion in assets under management supporting early stage investments. These funds support some of the most successful technology companies in the Israeli ecosystem, including global market leaders such as ironSource, Payoneer, Outbrain, Playbuzz, and Redislabs   Read More ...
Categories: Business | 
Tags: Finance |  Investments |  Investment Funds | 
Places: Asia |  Mideast |  Israel | 
Israel fintech firms head to Japan for business opportunities
An Israeli delegation of companies developing fintech technologies has met with over 500 representatives from Japan’s largest banks and Japanese fintechcompanies and IT service providers. Organized by the Israel Innovation Authority, the Israeli Ministry of Economy and Industry and Japan’s Ministry of Economy, Trade and Industry, the delegation aimed to display Israeli technologies to Japanese firms that over the past few years have been active in investing in advanced fintech solutions, both by cooperating with other institutions and independently   Read More ...
Categories: Business | 
Places: Asia |  N.E. Asia |  Japan |  Mideast |  Israel | 
Iron Dome developer nabs investment from New Zealand customer
mPrest, the Israeli firm that developed the Iron Dome missile defense technology, said on Monday that its customer, New Zealand’s Vector Limited, an electricity and gas distributor, has made a $10 million investment in the firm, and will act as a selling partner in the Oceania region. Vector joins current mPrest investors OurCrowd, GE Ventures, Angeleno Group, Israel Electric Corporation and Rafael Advanced Defense Systems LTD   Read More ...
Categories: Business | 
Tags: Corporate |  Enterprises |  Finance |  Investments |  Customers | 
Places: Australasia |  Zealandia |  New Zealand |  Asia |  Mideast |  Israel | 
Canadian, Australian stock markets vie for Israel tech firm listings
The Nasdaq and the New York Stock exchange may the most aspired-to destinations for many Israeli entrepreneurs, but Canada is now joining Australia in competing for a piece of the pie. “Israel is second only to California in terms of success in the tech space,” Robert Peterman, VP of global business development of the Toronto Stock Exchange and Venture Exchange, said in an interview with The Times of Israel last week   Read More ...
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Places: Oceania |  Australasia |  Australia |  Americas |  North America |  Canada |  Asia |  Mideast |  Israel |  New York | 
BioCanCell mulls delisting to snag $25m investment
BioCanCell Therapeutics Ltd. (TASE:BICL) today announced that its shareholders were considering filing an offer to purchase for all the company's outstanding shares. The company has been offered an investment contingent on its being a private company. The company further announced that it was negotiating simultaneously for strategic cooperation with major drug companies. BioCanCell's controlling shareholders are Len Blavatnik-controlled Clal Biotechnology Industries Ltd   Read More ...
Categories: Business | 
Tags: Corporate |  Enterprises |  Finance |  Investments |  Shareholders | 
Places: Asia |  Mideast |  Israel | 
High Court rules Tel Aviv supermarkets to remain open on Shabbat
Israel's High Court ruled Thursday morning that supermarkets in Tel Aviv will remain open on Shabbat. In its ruling the court overturned an appeal by the Association of Tradesmen and Independent Business Owners, which has fought a campaign to force large grocery chains such as AM:PM and others to close on Shabbat because opening contravened the law and represented unfair competition for independent stores that elect to close on the Sabbath   Read More ...
Categories: Business |  Law & Crime | 
Tags: Judiciary |  Law Courts |  Markets |  High Court |  Retail Markets |  Supermarkets |  Appeal |  Civil Actions | 
Places: Asia |  Mideast |  Israel |  Tel Aviv | 
Delek Group mulls delisting Delek Drilling
Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva and managed by CEO Asi Bartfeld, is considering flattening the ownership pyramid of its energy companies. The company yesterday announced that it was exploring, with no certainty at this stage, delisting Delek Drilling Limited Partnership's (TASE: DEDR.L) participation units, which were created through a merger of the participation units of fellow subsidiary/partnership Avner Oil and Gas LP (TASE: AVNR   Read More ...
Categories: Business | 
Tags: Markets |  Stock Markets |  Listing |  Delisting |  Financial Markets | 
Places: Asia |  Mideast |  Israel | 
Dessert hummus spreads win ‘Shark Tank’ investment
A US company that offers sweet hummus spreads enjoyed a successful stint on ABC’s “Shark Tank” this week, with Jewish billionaire Mark Cuban agreeing to invest $600,000 in the venture. “Shark Tank” sees entrepeneurs pitch their business schemes to a panel of investors, who must choose whether to invest in the projects, or pass. Cuban made the investment in company Delighted By on last week’s show, in exchange for 12 percent of the company shares   Read More ...
Categories: Business | 
Tags: Finance |  Investments | 
Places: Asia |  Mideast |  Israel | 
Yuval Bronstein steps down as Azrieli Group CEO
Azrieli Group Ltd. (TASE: AZRG) CEO Yuval Bronstein announced this morning that he was stepping down from his post. In a notice to the Tel Aviv Stock Exchange this morning, Azrieli Group states that the circumstances of Bronstein's resignation do not require a special report to investors. Bronstein has been CEO of Azrieli Group, whose main activity is real estate, for the past five years   Read More ...
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Places: Asia |  Mideast |  Israel | 
Turkey bank regulator dismisses 'rumors' after Iran sanctions report
Turkey's banking regulator urged the public on Saturday to ignore rumors about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of US fines over alleged violations of Iran sanctions. "It has been brought to the public's attention that stories, that are rumors in nature, about our banks are not based on documents or facts, and should not be heeded," the BDDK banking regulator said in a statement, adding that Turkey's banks were functioning well   Read More ...
Categories: Business | 
Places: Asia |  S. Asia |  Iran |  Israel |  W. Asia |  Turkey | 
Saudi oil minister calls for economic cooperation during Iraq visit
Saudi Oil Minister Khalid al-Falih made a high profile visit to Iraq on Saturday, calling for increased economic cooperation and praising existing coordination to boost crude oil prices. In a speech at the opening of the Baghdad International Exhibition, Falih said cooperation between Iraq and Saudi Arabia contributed to "the improvement and stability we are seeing in the oil market" Falih is the first Saudi official to make a public speech in Baghdad for decades   Read More ...
Categories: Business | 
Tags: Markets |  Commodity Markets |  Economy |  Economics |  Energy market |  Crude oil | 
Places: Asia |  Mideast |  Iraq |  Israel |  Saudi Arabia | 
Mellanox CEO: ‘You’ll be much healthier, your life will be much better’
CEOs often brag about their company. Yet for the head of Mellanox Technologies Ltd. – which produces semiconductor chips to speed up server and computer communication – CEO Eyal Waldman prefers not to, instead opting to talk generally about how faster data will transform the world, from preventing automobile fatalities to permitting doctors to offer "personalized for you" drugs.“If you want to do more car crash stimulations, we’ll be able to drive more data faster and in a much sooner period of time   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel | 
Citi fosters Israeli fintech to meet changing needs of financial sector
Israeli startup Innovative Assessments (IA) says financial lenders like banks are missing out on huge numbers of potential clients because their criteria for handing out credit are too stringent and do not take the full picture of the client into account. As part of nearly every loan approval process, banks assess applicants’ creditworthiness based on prior financial credit and payment histories   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel | 
Finance Ministry to Hebrew U: Cut wages, lay off staff to qualify for bailout
The Finance Ministry is demanding that Jerusalem’s Hebrew University lay-off staffers and cut professors wages in order to qualify for a multi-million shekel bailout to reduce its budget deficit and grapple with crippling pension costs. The state is negotiating with Hebrew University, along with the Council of Higher Education’s Planning and Budgeting Committee, over immediately transferring NIS 80 million to help close the flagship university’s NIS 160 million deficit this year, according to a government official involved with the talks, who spoke on condition of anonymity   Read More ...
Categories: Business | 
Tags: Finance | 
Places: Asia |  Mideast |  Israel |  Hebrew University | 
Revolutionizing the legal job market for olim
Will Donner’s business model at Lawflex, which now boasts 200 lawyers, revolutionize the legal job market for olim and possibly even beyond, where other similar competitors in the past have had only small-scale or temporary success? First, we need to explain what is new about her legal outsourcing business model.The idea of legal outsourcing is still relatively new. Typically, lawyers have worked for law firms, and they made a profit by setting lawyers’ billing rates enough above overhead costs and what the firm was paying their lawyers performing legal services that the firm made a profit   Read More ...
Categories: Business | 
Tags: Markets | 
Places: Asia |  Mideast |  Israel | 
Danish pension fund bans four firms over West Bank settlement activity
One of Denmark’s largest pension funds announced that it will bar investment in four companies that operate in West Bank settlements.Sampension – with some $46.1 billion (290b. Danish kroner) under management – announced the blacklist in a press release last week, which excludes Israel’s two largest banks, Hapoalim and Leumi, along with Israeli telecom giant Bezeq and German- based Heidelberg Cement   Read More ...
Categories: Business | 
Places: Asia |  Mideast |  Israel |  Europe |  N. Europe |  Nordic |  Denmark |  West Bank | 
Israel Bonds: a Symbol of Solidarity during the High Holy Days and Beyond
At a time of celebration, prayer, renewal and introspection, an Israel bonds investment reinforces one’s connection to the Jewish homeland and its people while enabling a robust nation to sustain economic growth and development for years to come.With a legacy spanning more than six decades, Israel bonds continue to resonate throughout Jewish communities as a redolent expression of enduring support for the thriving establishment synonymous with the Judaic faith   Read More ...
Categories: Business | 
Tags: Markets |  Bond market | 
Places: Asia |  Mideast |  Israel | 
How to make it as an Israeli start-up in New York
For a young Israeli entrepreneur with a great start-up idea, the American market may seem daunting. Israeli founders grapple with a less blunt networking scene, legal and regulatory challenges, and they may struggle to find local investors.That’s where Eyal Bino and Arie Abecassis enter the picture. Through ICONYC Labs, they help connect Silicon Wadi tech start-ups with local American investors. Be the first to know - Join our Facebook page   Read More ...
Categories: Business | 
Tags: Enterprises |  Finance |  Investments |  Investors |  Start-ups | 
Places: Asia |  Mideast |  Israel |  New York |