Israel abolishes customs and purchase taxes on a wide range of products; 355,900 tourist entries to Israel were recorded in Nov 2017; 87 companies from 18 countries opened offices in Israel since 2014 for R&D or innovation, and much more.
ECONOMY & BUSINESS
The largest cut in tariffs since the 1990s
Israel is to abolish customs and purchase taxes on a wide range of products, including electronics, cosmetics and toys. It will remove about a quarter of the total industrial tariffs in Israel – costing around NIS 800 million a year.
November tourism up 24%
355,900 tourist entries to Israel were recorded in Nov 2017, about 24% more than Nov 2016 and 70% more than Nov 2015. In the period Jan-Nov 2017, about 3.3 million tourist entries were recorded, a 25% increase on the same period last year. http://www.jewishpress.com/news/israel/israeli-tourism-continues-to-rise-with-24-increase-over-last-november/2017/12/10/
87 foreign R&D centers since 2014
A total of 87 companies from 18 countries have opened offices in Israel since 2014 to pursue research and development or innovation, according to new report published by Start-Up Nation Central, a nonprofit organization that connects international businesses with Israeli startups.
European finance backs Israeli tech
The European Investment Fund (EIF), with Israel’s Bank Leumi, have renewed their program offering loans to small and medium Israeli tech companies. Leumi can offer up to $200 million, with EIF guaranteeing the funds as part of Horizon 2020, the EU’s research and innovation program.
Microsoft’s new Israel campus
Microsoft has completed a lease for its new campus in Herzliya Pituach. The company will rent the 10-story 44,000 square meter Sea Tower building currently under construction. On completion, Microsoft Israel will relocate its staff from several Herzliya Pituach locations to the new building.
WeWork goes large in Shanghai
Co-working real estate company WeWork, led by Israeli Adam Neumann, has leased an office building in Shanghai, where in 2018 it intends to open its largest co-working space to date. The ten-story building covers 27,000 square meters.
Technical support at home within the hour
Israeli-founded startup Puls sends a technician within 60 minutes in response to a request to install or repair your electronic device. Accept the fixed price quote on Puls’ website and they dispatch one of 1300 freelance technicians to your home. Available in 43 cities in 22 USA states.
The fastest growing startup
Mobile ad startup YouAppi was the top company in the 2017 Deloitte Israel Technology Fast 50 list. YouAppi helps companies reach users through mobile ads and analytics, and has grown by 16,230 percent in four years. YouAppi’s platform is used by over 2 billion people.
Frutarom’s 11th & 12th acquisitions in 2017
Israel’s Frutarom has bought Poland’s Fabryka Substancji Zapachowych Pollena-Aroma, one of Poland’s leading producers of ingredients for the aromatherapy and natural cosmetics industries. It has also taken a 51% stake in Brazil’s savory solutions maker Bremil Industria.
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Source: United with Israel