ISRAEL’S AMAZING ECONOMIC GROWTH: GOOD NEWS SEE NOTE

Posted By on February 19th, 2011

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This sure is welcome news…and although I loathe Ron Paul and dislike Rand Paul….I think foreign aid to Israel must to be reevaluated. It has been a litmus test for legislators …a fig leaf to paper over their support for policies that are inimical to the survival of Israel and a weapon to bludgeon Israel into making those concessions. Military aid is critical but the entire package of economic aid should be shelved…..rsk

Ambassador (ret.) Yoram Ettinger

Israeli Growth Exceeds OECD and the USA
Straight from the Jerusalem Boardroom #150

Yoram Ettinger, “Second Thought: A US-Israel Initiative

1.  A 7.8% growth of Israel’s economy during the fourth quarter of 2010 – a
4.5% annual growth in 2010, compared with OECD’s 2.8%, USA’s 2.7%, Turkey’s
8.2% and South Korea’s 6.2%. Export surged 10.3% during the fourth quarter –
a 3.7% annual growth. Investments expanded 15.9% during the fourth quarter
(Globes Business Daily, Feb. 17, 2011).

2.  The $34MNCorning acquired Israel’s MobileAccess for $200MN (Globes, Feb.
2, 2011).   Recent acquisition of Israeli companies: PMC Sierra (Vintegra –
$240MN), 3M (Eternity – $230MN), Melanox (Voltaire – $218MN), Roche AG
(Medingo – $160MN), IBM (StoreWise – $140MN), Juniper (Altor – $95MN),
BroadCom (Percello – $86MN), Oracle (Convergin – $85MN) and DVTel (Ioimage –
$80MN).  Riverwood  Capital acquired Israel’s Cintec for $110MN (The Marker,
Jan. 25, 2010).

3. Germany’s Bayer invested $32MN in Israel’s Abogen (Globes, Dec. 14,
2010).  Medical  Intel Capital, India’s Nexus Venture Partners, Silicon
Valley Bank, Avalon Ventures and 406 Ventures participated a $20MN 3rd round
of private placement in Israel’s Kaltura (Globes, Feb. 15). Israel’s
Pluristem raised $36MN in an IPO on NASDAQ (Jan. 31, 2010).  Chicago’s MK
Capital participated in a $10MN round by Israel’s Playcast (The Marker, Jan.
25).  Roll International led a $25MN round by Israel’s AspectMR (Globes,
Jan. 17).  Azini Capital, Intel Capital, Escalate Capital ad SMAC Capital
(Globes, Dec. 14).  Europe’s Amadeus Capital participated in an $8MN round
by Israel’s CellTick (Globes, Jan. 24).

4.  $1.26BN raised, during 2010, by Israel’s high tech companies, 13% above
2009, but 39% below 2008 (Globes, Jan. 18).

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