Business & Finance

Only 35,000 news small businesses opened in the second year of the COVID pandemic, while the cessation of government aid contributed to the many ventures that ceased operating.

Abu Dhabi's Mubadala Investment Co manages $250 billion in assets and has so far invested $20 million in six Israeli venture capital firms. Bilateral trade between the newfound allies came to $700 million in 2021 and it is expected to reach $2 billion this year.

DHL Express is said to invest $80 million in the facility, located near Ben Gurion International Airport.

"The use of digital wallets is gradually becoming a significant part of our shopping and payment experience," head of firm that manages Israel's credit card payment system says. Around 800,000 Israelis are believed to have downloaded an online payment app.  

Sources say tech giant paid $500 million for Siemplify, which provides security orchestration, automation, and response solutions.

Under the five-year contract, Elbit Systems Emirates will supply the UAE Air Force with anti-missile and electronic warfare systems to protect its Airbus A330 Multi-Role Tanker Transport aircraft.

Israeli technology companies raised an all-time high of $26.6 billion last year – more than double the level raised in 2020, which was also a record year.

TASE reports 97 companies listed this year, 55 of which are from the high-tech sector. According to TASE CEO Ittai Ben Zeev, "the stock exchange, as the home of the Israeli economy, today reflects more than ever the success of the local economy."

The move is part of the Defense Ministry's efforts to enhance its oversight on the sale of advanced cyber technology following concern over possible abuses by overseas actors. Overall cyber exports in 2020 amounted to $6.85 billion.

Property and Building Corp closes the sale with New York-based real estate firm Innovo Property Group, recording a net loss of $45 million.