Hitech

Israel experienced a significant downturn in its economic landscape in 2023, as reported by leading financial services firm PwC. The total value of transactions, mergers, and acquisitions plummeted by an alarming 46%, reaching a meager $9.8 billion compared to the robust $18 billion recorded in 2022. These figures mark the lowest in the past decade, excluding 2014 when the total transactions amounted to $7.2 billion

Recent data from the Central Bureau of Statistics (CBS) paints a complex picture of Israel's economic landscape in October, the month when the war broke out. The average salary for a salaried employee stood at NIS 12,492, showing a 6% increase compared to October 2023 but a noticeable dip from September's almost NIS 13,000. Adjusted for inflation, the average salary at constant prices was NIS 10,619, reflecting a modest 2.2% uptick from October the previous year

At a recent press conference following the release of Check Point's quarterly report, Gil Shvid, one of the founders of Check Point and its longstanding CEO, announced his departure from the CEO position after more than 30 years of service. Shvid will be stepping into the role of chairman, emphasizing his commitment to remain actively involved in the company's future endeavors

In a surprising move, Amdocs, one of Israel's leading hi-tech companies, has issued layoff notices to nearly 100 employees, with termination effective from April 1. This latest round of cuts comes merely half a year after the company's announcement of its intention to lay off 2,000 workers worldwide, including approximately 250 in Israel

A comprehensive report on "Women in Hi-Tech 2024" was drawn up these days by the Economy and Research Division of the Innovation Authority, and the Aaron Institute on the occasion of International Women's Day, starting tomorrow. The good news: in 2023, there will be an increase in the number of women in the high-tech industry in Israel - 131,000 women, almost double compared to the previous decade, and an increase of 2.7% compared to 2023. The bad news: it's not enough. According to this growth rate, the State of Israel will not meet the goal set by the Perlmutter Committee for increasing...

Norwegian Wealth Fund, renowned as one of the world's largest investment bodies with an estimated capital of $1.6 trillion, made headlines by announcing a comprehensive review of its holdings in various international and Israeli companies. This re-evaluation comes in the wake of the recent conflict in Gaza, with the fund citing potential violations of its ethics regulations as the impetus behind this decision

Iranian cyber attackers, linked to the Muddy Water group associated with the Iranian Ministry of Intelligence, have launched targeted phishing campaigns against Israeli journalists and media organizations, according to a report released by Check Point and revealed by PC. The Muddy Water group executed two significant phishing campaigns in recent days, focusing on leading media outlets, prominent journalists, as well as tourism and health organizations in Israel. The attackers utilized hacked legitimate email addresses to send deceptive messages, posing as medical and nursing centers or...

The Bezos Earth Foundation, spearheaded by Amazon founder Jeff Bezos, has decided to withhold its planned $30 million investment in establishing a center of excellence for foodtech in Israel. The decision, attributed to the ongoing war in the region, comes as a blow to Israeli universities Technion and Hebrew University, which had submitted proposals and received praise for their innovative approaches. Uncertainty Halts Funding In a recent communication to research teams, the Bezos Earth Foundation cited "uncertainty surrounding the war" as the reason for not proceeding with the...

Israel Aerospace Industries (IAI) has announced its strongest first quarter in history, boasting impressive financial figures despite ongoing conflict. The company's order backlog stands at approximately $19.1 billion, representing a significant milestone in its operations. Financial Highlights: IAI reported a 48% increase in net profit to approximately $135 million, alongside positive cash flow from current operations totaling approximately $1,780 million. Sales volume saw a substantial increase to approximately $1,432 million, reflecting the company's robust performance in...

Intel's suppliers recently received notices of contract cancellations, halting equipment and material supplies for the expansion of the company's new factory. The Ministry of Finance was aware of Intel's decision to halt the expansion