Israel - The Miracle Continues...

 

1.Elbit Systems sets up joint venture with Brazil’s Embraer

Elbit Systems president and CEO of Joseph Ackerman said, "The establishment of this jointly-owned company is a significant step for Elbit Systems and AEL, marking another milestone in our long-term operations in Brazil, a market which we consider of the utmost importance.

2.Israels foreign currency reserves edge up to record $78b

Israel's foreign currency reserves reached an all-time high of $78.08 billion at the end of August, $135 million more than a month earlier, the Bank of Israel announced today. To compare, Iran has $75b, Canada $64b, Australia $41b and Turkey $97b.

3.S&P upgrades Israel to A+

Standard & Poor's has upgraded Israel's long-term foreign-currency sovereign rating from A to A+ with a "Stable" outlook, four steps below AAA. S&P also reaffirmed Israel's local currency rating at AA-. S&P said, "The rating action reflects our view of Israel's improved economic policy flexibility as a result of strong growth and careful macroeconomic management… Israel is on a credible path toward continued government debt burden reduction and stronger external indicators." Read more http://www.globes.co.il/serveen/globes/docview.asp?did=1000681132&fid=1725

4.Israel, Germany to save Lake Victoria

Israel and Germany on Monday signed a joint letter of intent for a first of its kind joint cooperation effort, with the goal of saving Lake Victoria in Kenya. Lake Victoria is the largest lake in Africa and the second largest in the world and is being threatened by a severe ecological disaster. Half of the fish species in the huge lake have already become extinct. About 30 million people make their living from the seaweed filled lake that has low oxygen levels. Lake Victoria is one of the sources of the Nile, which is also suffering from the lake's ecological disaster.

5.Forty Turkish companies eye Israeli

technologies

At least 40 Turkish companies have expressed interest in the new media technologies developed by Israeli companies currently being presented at the IBC Conference in Amsterdam. Israel Export Institute CEO Avi Hefetz said, "Watching the business conduct between Israeli companies and Turkish companies interested in their products, you would never believe that there is a diplomatic crisis between the two countries. People know how to make a distinction between the diplomatic crisis and business matters."

6.IEC to build $1.3b Chinese solar energy

project

Israel Electric Corporation (IEC) (TASE: ELEC.B22) will build a $1.3 billion project of three photovoltaic solar energy arrays in northern China. IEC's board of directors approved the project, the utility's first investment in China, at its last meeting. As the project's chief contractor, IEC will not invest equity in the project. The project is also IEC's first investment in a solar energy project, and it is the utility's largest foreign project to date.

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