Robert Kraft gets to match the first $ 500,000 in donations to the Progeria research Foundation

-The recent fundraising campaign to help those suffering from rare disease of aging has raised considerably more than its goal, giving Kraft the opportunity to keep his promise.


Robert Kraft/Getty

The fundraising campaign organized by Progeria Research Foundation has raised $ 678,262 thus far in the struggle to help sufferers of the disease which is an extreme form of premature aging.

With the disease is so rare that most people in America were aware of it, until the documentary on the life history of suffering from Progeria, Sam Berns, produced by HBO, entitled "life according to Sam," which was shown on national television on Monday, October 21.

Before the documentary makes its television debut, Robert Kraft was given a preview showing. Apparently, Kraft was so mover that has increased its initial commitment to donate $ 100,000 to the appeal five fold on the condition that it would match the same value of donations.

Such was the response to the heart-rending documentary, that the Foundation has already managed to meet this target, and donations continue to flood before its closing date of October 31.

Thank's a pledge by Robert Kraft, the total for the appeal now equal to almost 1.2 million next.

Audrey Gordon, President and Executive Director of the Progeria Research Foundation expressed its appreciation of the magnanimous gesture of Kraft and how open the door for other Progeria patients, all children, in order to participate in our clinical trials and further finance research that we hope may one day find a cure for the disease, which ill have a life expectancy, going to their teens.

. "We have more work to do and Yes, more money to raise. Going to take $ 3 million more to ensure that every sufferer of Progeria known can participate in clinical trials. " MS. Gordon outlined.

Sam, who comes from a Jewish family, lives in Foxboro, Massachusetts, where he attended regular school and is active in school activities, as well as being a member of Boy Scouts despite his condition.

The Foundation was established 14 years ago by Gordon along with parents ' Berns, Leslie Gordon and Scott Berns, who are both doctors.

As the present appeal winds up to exceptional success, Audrey Gordon too long to thank all the thousands of donors who ranged from new and longtime supporters of the Foundation, including a number of Hollywood celebrities who "dug deep and rallied around this challenge with energy and enthusiasm that was contagious and uplifting".

Robert Kraft was born and raised in Boston, Massachusetts. After completing high school, Kraft went on to graduate from Columbia University, then going on to receive his masters from Harvard Business School in 1965.

Apart from his business and sports Robert Kraft has always been active in the field of philanthropy, reported to have donated over $ 100 million for a variety of charitable causes both in America and in Israel, focused around education, health care and the promotion of sport for youth among other causes.

Among the many institutions that Kraft argued over the years are Dana Farber Cancer Institute in Boston, Tufts University, Boston College, Harvard Business School and Columbia University

Paul Reichmann World’s Master Builder Dies at 83

Paul Reichmann has died. According to a spokesperson for the family he died on Friday morning at the age of 83.
Paul Reichman was one of five brothers who left Tangier, Morocco to emigrate to Canada. Morocco had been a way-station for the family which had earlier fled from persecution in Vienna.

There he and his brother Albert built up the private development company Olympia and York into what became for a time the largest commercial property company in the world. Later it all collapsed in a sea of debt as the real estate crash of the nineteen nineties reduced rents and drained the company of the liquidity it needed to ride out the storms.

Nevertheless Paul Reichmann changed the commercial property map of three cities – Toronto, New York and London with three massive developments.
In Toronto he built the First Canadian Place complex smack in the middle of downtown, emulating successfully the earlier construction by the Bronfman family of the Toronto Dominion Center across the street.

In New York he built the Cesar Pelli designed World Financial Center on landfill at Battery Park. This was only across the road from the World Trade Center itself, but at the time was considered akin to being somewhere closer to the moon.

In London he commenced the massive Canary Wharf  development in the east end of London which, when it was finished, totally shifted the financial center of gravity of the city. In the process he lost control of the project when it was still unfinished, after his company was forced into bankruptcy in 1992. He bought back in to the project a few years later though, only to hit the wall of the next major recession, triggered by the 2008 financial crisis, when he lost his stake a second time to a bank repossession.

As a life-long observant Jew his company Olympia and York always closed down completely for the Sabbath.

Reichmann was born in Vienna in 1930 to Samuel Reichmann, a wealthy egg merchant and his wife René. the family were Orthodox Jews who came originally from a small town in Hungary, but his father found success in Vienna as a merchant.

The family escaped the Nazi occupation of Austria, the “Anschluss”, which took place on March 12th, 1938 by sheer chance as they had left, on that very fateful day in Austrian and European history, to visit Paul’s grandfather in Hungary who had suffered a stroke.

Giving up their lives in Vienna at a stroke, they made their way from Hungary to Paris, initially settling there like many such emigrés. The Reichmann family were forced to flee again when France fell to the Germans, eventually making their way to the neutral city of Tangier. In Tangier, the family prospered as Samuel became a significant currency trader. After the war was over, by then a teenager Paul left home to study religion first in Britain and then in Israel, and he became a Rabbi. In 1953 he returned to Morocco to become a shirt retailer and to marry his wife Lea, and then in 1956 the whole family upped stakes one more time to come to Canada where Paul began to build his real estate empire from scratch.

Arkady Rotenberg si sposta in spazio esterno paga $28 milioni per Skanex

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Rotenberg has invested $ 28 million to acquire a majority stake of Skanex, one of the main actors in the field of space technology of Russia.

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Arkady Rotenberg/Getty

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Arkady Rotenberg took his widespread activities spread throughout the Russia forward and upward and also with regard to deep outer space.

Rotenberg has become the majority shareholder in Skanex, which specialize in the provision of observation from outer space all over the territory of Russia as well as that of other CIS member countries. The CIS was formed after the breakup of the Soviet Union.

Arkady Rotenberg will now be able to look down on them from above, in real time and with a very high resolution.

Business analysts in Russia seem to be of the opinion that the reason why shared Rotenberg has gained control of Skanex is that his group is interested in participating in the initiative to establish an accurate map cadastral and real estate have allocated about $ 1.7 billion to complete the project to define local and national boundaries in the country.

Cadastral map is a full log of real estate or real property boundaries in a country and the ability to produce a map from outer space, using satellite technology has become an increasingly common practice in the world.

Most countries that make use of satellite images to define the exact size and location of the plots, as they are listed in the legal documents and are largely used to settle legal disputes and lawsuits regarding the boundaries of the property.

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With an eye to the future and gaining a share of the potentially lucrative activity, Rotenberg has acquired 90 percent of shares, Skanex, for $ 28 million. The remaining 10 percent of the company being kept by the founders of the company, Vladimir and Olga Gershenson.

Skanex has the distinction of being one of the lost running hi-tech companies in Russia, founded in 1989, when the country was still part of the Soviet Union.

Providing a full range of high-tech services, not only including interception of images of the Earth from outer space but also their thematic processing, Skanex are also the owners and operators of a network of ground stations across Russia and a number of member countries of the CIS that assimilate data from a network of satellites, which allow the transmission of a large number of television channels for Russian consumers. Skunks are also working closely with the world's largest Internet search engine, Yandex, Russia to provide their high-resolution maps and images of the Earth's surface.

While these operations will no doubt welcome some strings of arc Arkady Rotenberg, there is no doubt that the main subject of interest will always be a portion, if not all, the $ 1.7 billion in the Russian Federation, to be completed by the end of 2016, the country, with a land mass of 6.5 million square kilometres, will move to a single open the geocentric coordinate system, designed to increase the precision of real estate cadastre of the State.

Arkady Rotenberg , born and raised in the city of Leningrad and a graduate of the Institute of physical culture in Leningrad continued to build a successful career in the world of trade and industry, becoming one of the most influential businessmen in Russia, with important holdings in some of the largest companies in the country, including SGM group, now one of the largest suppliers of steel pipes of the former Soviet bloc. Rotenberg also holds an interest in a major Russian Mostotrest based road Construction Corporation and a controlling stake in SMP Bank, the Group Avia TPS, besides being President of the hockey club Dynamo Moscow.

Avi Lerner Wants To Make Some Of Hollywood’s Top Female Film Stars “Expendable”

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A female version of an all action movie is the latest project that Lerner is working on.

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Cameron Diaz,  Jamie Lee Curtis and Milla Jovovich / Getty

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The recent success of the Expendables action movies, starring some of the industry’s aging male action superstars such as Arnold Schwarzenegger, Robert De Niro, Mickey Rourke, Bruce Willis and the master of all action heroes Sylvester Stallone has prompted Lerner to produce a female version which has so far earned the working title of “The ExpendaBelles”.

With the male equivalent, the Expendables onto its second follow-up, and  with veteran Hollywood tough guys almost queuing up to take part, while film lovers from audiences all over the world during up to watch them, Lerner knows that he has hit yet another winning formula. A formula that he wants to take on to the next stage- an all female version.

To shoot the “ExpendaBelles” Lerner is reportedly going after some of the Hollywood’s leading female talent, and once again the Hollywood rumor mill is working flat-out. Rumors are flying with names such as Cameron Diaz, Milla Jovovich, Jamie Lee Curtis  already being mentioned  as strong starters , and even Oscar winners Helen Mirren and  Meryl Streep being added to the list of possibilities.

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 Helen Mirren and  Meryl Streep/ Getty

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What is for sure is the movie is due to be sorted Bulgaria, early  next year, with the all-female screenwriting team of  Karen McCullah Lutz and Kirsten Smith, who wrote “Legally Blonde” already working on the screenplay. Lerner has stated that he hopes to appoint a female director to work with him on the movie, although no names have been mentioned to date.

All that Lerner is admitting in the meantime is that he sees the film being based around an all female group of possibly “seven or eight women mercenaries.”  Avi Lerner did not dismiss the future possibility that the Expendables and the ExpendaBelles might even star together some kind of ultimate action movie, with the only prerequisite being that all members of the cast be at least forty years old.

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Avi Lerner (Center)  / Getty

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Avi Lerner was born and raised in Haifa, Israel. After serving in the Paratrooper Brigade, and taking part in the Six Day War of 1967, Lerner began his career in the film industry, working in Tel Aviv. After a few years, Avi moved to South Africa, where he was involved in the production of several locally based films, as well as building   a chain of movie theaters.

Lerner wanted to try his luck in Hollywood, meaning that the next step in his globetrotting adventures saw him there, accepting an offer to take up the role as President of Global Pictures, an independent production/distribution company,

After he had gotten the lie of LaLa Land Lerner left Global to found his own production companies, Nu Image and Millennium Films in partnership with Danny Dimbort and Trevor Short. Both companies found themselves a niche in the industry, producing action films in the genre of Rambo, which he has now taken a step further by becoming an equal opportunity employer in the film industry.

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NIS13 million ($ 3.6 million) Class Action Suit against Show late of Rihanna In Israel

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"The manufacturers did not provide the full value for the show and pocketed huge sums of money".

Rihanna/Getty

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A lawsuit ($ 3.6 million) 13 million NIS was presented with the Tel Aviv District Court with a request to have it recognized as a class action suit against the manufacturers of Rihanna's performance in Tel Aviv, Shai Mor-Yosef and Guy Beser.

The petitioner, Liron Shor, which was a performance, says, "the producers did not provide the full value for the show and pocketed huge sums of money". He argues, "the show began an hour and ten minutes late, during which time the public stopped and waited with great frustration and sense of insult and rage."

Shor adds, "given the failure of the value, the purpose of the process is to compensate for the public, which is why this suit is of great public importance".

Rihanna's performance, last Tuesday, I was called by members of the public, "improvised", "Absolutely shocking" and "disgraceful". One person said, "we feel cheated and deceived.

Posted by www.globes-online.com

Jeremy Levin Teva CEO threatens to resign

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Jeremy Levin threatened to resign due to interference by the Board of Directors.

Jeremy Levin

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Israeli Channel 2 News reported that Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; TASE: TEVA) CEO Jeremy Levin, aides said that unless the Board of Directors stopped interference in management of the company, it would consider resigning. "This would put the company at risk," says Teva management in a letter to the Board of Directors. In the letter, Teva's management asked the Council to stop interfering in the management of the company.

The letter was written after Levin's meeting with Histadrut (General Federation of labour in Israel) Chairman Ofer Eini, in which they discussed plan rationalisation and Teva plans to shoot up to 800 employees in Israel. Levin promised Eini that layoffs in Israel would only be taken in coordination with the Histadrut.

However, the Board of Directors Teva is demanding that Israel be layoffs in full.

Teva denies the report.

Posted by http://www.globes-online.com/

Thor Equities LLC Aquairs Barneys Department Store Building In Chicago For $154 Million

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 Barneys department store building in Chicago

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Thor Equities LLC  the New York-based real estate investor signed a contract to acquire  Barneys department store building on Oak street, Chicago , for $154 million. The price represents a 32 percent jump from the $117 million that the seller, New York-based Property and Building Ltd. (TASE:PTBL) subsidiary of  Tel Aviv, Israel-based IDB Holding Corp. Ltd. (TASE:IDBH) , paid for the property in March 2011. According to Israeli Globes, the company bought the property for $ 122 million of which $42 million was financed from equity and $80 million was financed with a long-term loan.

Barneys New York occupies 90,000 square feet of the building under a lease that runs through 2024. A Citigroup Inc. bank branch occupies the remaining 4,600 square feet.  The building generated $10.1 million in net operating income last year, according to a Bloomberg L.P. report on an $80 million loan encumbering the property. That would make Thor’s initial yield, or capitalization rate, on the sale about 6.6 percent.

The transaction is among the most expensive retail property sales in the downtown Chicago in recent years.

The sale price reflects the property’s fair value in Property and Building’s books, and it will not report an accounting gain or loss on the deal. Property and Building CEO Segi Eitan told Globes , “The Barneys’ deal reflects the company’s ability to locate and improve unique income-producing assets in terms of their location, timing, and quality of their tenants. The cash-on-cash yield on the company’s investment is 94%”.

Over $20 Million Raised At Saban-Chaired FIDF Gala

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More than 1,000 attended the FIDF Western Region Gala, which featured musician Lionel Richie, David Foster and Friends, and a $150,000 donation from TV star Simon Cowell.

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 (L-R) Rabbi Yechiel and Joelle Eckstein, Haim and Cheryl Saban, Dr. Rebecka and Dr. Arie Belldegrun / Michelle Mivzari

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Over $20 million was raised at the annual Friends of the Israel Defense Forces (FIDF) Western Region Gala yesterday, Tuesday, October 22, 2013. More than 1,000 FIDF supporters and dignitaries from the United States and Israel gathered to express their support for the Israel Defense Forces (IDF). FIDF National Board Member and major supporter, Haim Saban, and his wife, Cheryl, served as chairs of the star-studded FIDF Gala that took place at the Beverly Hilton Hotel in Beverly Hills, CA.

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   Simon Cowell and Haim Saban  /Michelle Mivzari

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Notable donations made at the event included $4.5 million from Rabbi Yechiel Eckstein, Founder and President of the International Fellowship of Christians and Jews, $3.5 million from Vicki and Ron Simms of Simms Commercial Development, $2.3 million from Cheryl and Haim Saban, $2 million from Younes Nazarian, Co-Founder of Qualcomm, and his wife Soraya, and $1 million from Larry Ellison, CEO of Oracle. Simon Cowell of American Idol and X-Factor also attended the event and announced a donation of $150,000 to benefit the IDF soldiers. The funds raised at the Gala will go towards wellbeing and educational programs for IDF soldiers.

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Cheryl Saban with Ben Silverman and Jennifer Cuoco / Orly Halevy

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The evening began with a cocktail reception, followed by dinner and a program, emceed by FIDF National and Western Region President, Julian Josephson, and featured remarkable performances by David Foster and Friends. Attendees were enthralled by the surprise performance of five-time Grammy Award winner, Lionel Richie. Among the many participants at the Gala were Avi Arad, CEO of Marvel Studios and Founder of Arad Productions Inc., and his wife Joyce, Avi Lerner, Co-Chairman of NuImage, brothers Maurice and Paul Marciano of Guess Jeans, Ben Silverman, Founder and CEO of Electus, and his wife Jennifer Cuoco, Casey Wasserman of Wasserman Media Group, and Eli Tene, Co-Founder, Co-Managing Director and Principal of Peak Corporate Network and a Co-Founder and former Co-Chairman of the Israeli American Council, and his wife Dafna.

The FIDF national and local leadership present at the event included Nily Falic, FIDF National Chairman, Julian Josephson, FIDF National and Western Region President, Maj. Gen. (Res.) Yitzhak (Jerry) Gershon, FIDF National Director and CEO, Leo David, FIDF Western Region Founder and Chairman, and his wife Ruth.

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Leo David, FIDF Western Region Founder and Chairman, and Sheriff Lee Baca / Orly Halevy

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A very touching moment at the event occurred when Lone Soldiers, brothers Tamir Lerner, a combat soldier in the elite IDF unit Golani, and Adee Lerner, an IDF paratrooper, surprised their parents, Ettie and Shmulik Lerner, on stage. This emotional family reunion, which brought the crowd to tears, was made possible by the FIDF Lone Soldiers Program, which brought the brothers from Israel to Los Angeles so they could surprise their parents. The FIDF Lone Soldiers Program supports soldiers who have decided to leave their countries of origin and serve in the IDF. The program provides financial and social support, retreats, scholarships, and flights to visit their families abroad.

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 Vicki Simms with Nily Falic, FIDF National Chairman /Michelle Mivzari

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“The Jewish and Israeli community in LA showed its support and love yesterday for the soldiers of Israel,” said Saban. “The event connects this warm community with IDF soldiers, and it is our opportunity to say thank you to the soldiers who defend the State of Israel.”

About Friends of the Israel Defense Forces (FIDF):

FIDF was established in 1981 by a group of Holocaust survivors as a not-for-profit organization with the mission of providing and supporting educational, social, cultural, and recreational programs and facilities for the heroic men and women of the IDF. Today, FIDF has more than 120,000 loyal supporters, and 15 regional offices throughout the U.S. and Panama.

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Cisco to fire dozens in Israel

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Most of the layoffs will be at the former NDS, which is Cisco Systems Israel’s largest operation.

Cisco Systems Inc. (Nasdaq: CSCO) will fire dozens employees in Israel, as part of the firing of 4,000 employees worldwide, 5% of its workforce. Cisco Systems has 2,000 employees in Israel, a fraction of its global workforce.Cisco Systems Israel declined to comment on the report.

There have been several waves of layoffs at Cisco Systems Israel in the past, but the present wave appears to be smaller. Most of the layoffs will be at activities of former NDS, which is Cisco Systems Israel’s largest operation. The layoffs will reportedly affect headquarters and logistics staff.

NDS, a developer of pay TV and video content encryption solutions, was acquired by Cisco for $5 billion in early 2012. Although NDS had long since ceased to be an Israeli-owned company, most of its operations are in the country, where it has 1,200 employees.

The acquisition of NDS turned Cisco into one of the five biggest foreign high-tech companies in Israel. Cisco said that the acquisition was part of its plan to strengthen its Israeli center with information security solutions. A promise by Cisco CEO John Chambers during a visit to Israel in June, that the company planned to hire IT security personnel, has not yet materialized.

Published by  www.globes-online.com 

Indian Bank SIDBI Seeks Israeli Investments In water technology, agriculture, communications and renewable energy

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The Small Industries Development Bank of India is seeking investments in Israel and the bank intends to establish a joint investment fund with Kaenaat.

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Small Industries Development Bank of India (SIDBI)

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The Small Industries Development Bank of India (SIDBI) is seeking investments in Israel – the bank intends to establish a joint investment fund with Kaenaat, a company that deals with investments in emerging markets. Kaenat chairman, Yariv Cohen, told “Globes” that the new fund will focus its operations on assisting small and medium Israeli companies that are looking to enter the Indian market, or to expand their activity in India, in Indian sectors that have been marked as having the potential to encourage growth. The collaboration agreement between the bank and the investment company was signed recently, after representatives from the bank made several trips to Israel.

“This is the first time that SIDBI is seeking an international partner with whom to invest, and we are glad that the bank chose Israel. We are talking about a world-leading, top-tier financing and development body that has far-reaching influence on the development of Indian industry,” says Cohen. Among the instruments that the bank is using to support small and medium businesses are investments, loans, risk insurance, and managerial and strategic support for companies following the investment. Until now, the bank has focused its activity within India, and has supported 10,000 local businesses, in part through 4 investment funds.

Cohen said, “The collaboration between Israeli companies and the joint fund could broaden the trading volume between the two countries, which today does not reflect even a small part of the potential.” Cohen noted that Israeli companies can provide a response to Indian market needs in areas such as water technology, agriculture, communications and renewable energy: “SIDBI’s ability to identify the most suitable Indian partner for collaboration with an Israeli company, to build the partnership, and to support it using the wide array of vehicles at its disposal, makes it the correct partner for investments in India,” he said.

Yesterday, Minister of Economy, Naftali Bennett, flew out on a business trip to India, during which he is scheduled to meet with India’s Ministers of Treasury and Economy. During his five-day trip, Bennett is scheduled to meet with senior officials in the Indian economic system to discuss strengthening the collaboration between the two countries. Trade totaled $4.4 billion last year.

Published by  www.globes-online.com 

Glencore group of Ivan Glasenberg spend $ 1 billion to buy 50.1% control of coal mine In Australia with Sumitomo

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Ivan Glasenberg/Getty

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Ivan Glasenberg, Glencore's Xstrata Plc (Glencore) and Sumitomo Corporation (Sumitomo) jointly signed an agreement to acquire, on a 50: 50 basis, 50.1% stake of Rio Tinto in thermal coal mine Clermont (Clermont) in Queensland, Australia, for a little over US $ 1 billion in cash

Once the deal closes, Glencore will take over the operational management and marketing for the joint venture of Clermont and be paid management fees to do so.

In Japan the Fukushima nuclear power plant cleanup, which was crippled by the earthquake and tsunami in 2011, continues to deal with voluminous and insoluble Difficulty. It seems that the probability of significant discharges to water in irradiated nuclear ground offshore is now increasingly inevitable. The implication for the Japanese nuclear industry remains, then, as all its remaining nuclear power plants remain closed. Japan's population remains extremely cautious allowing them to reopen basically any of them until it can be reassured regarding their security.

As a result, renewed reliance on coal fired power becomes increasingly place the fall back and with this transaction clearly Japan Inc. is shoring up its strategic potential thermal coal supply and make sure that it won't be closed off by the Chinese markets which are also heavily consumers of thermal coal to fuel their expansion plans. Mitsubishi Corporation of Japan is also already a participant 31.4% in Clermont and a consortium of Japanese power companies owns the balance.

Given the fall in prices of thermal coal last year, the price represents a success for Rio Tinto than trying to download it for a while and now they got a good price. To Glencore that the deal can be viewed as a contrarian move, as in times of boom this good simply were not available and are in the business for the long haul.

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Thermal coal mine in Clermont (Clermont) in Queensland, Australia

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As Glencore merged with Xstrata this year didn't have to repair their balance-sheet is, unlike Rio Tinto itself that had gone too far in the previous M & mining arm. So it looks like a deal that makes everyone happy – which is the best kind.

Clermont is an open mine that produces important thermal high-energy coal with low ash. Is well capitalized, and efficient, producing 12 million tons per year, Australia's third largest thermal coal mine production. His ' JORC RESOURCE (mineral reserves reserves Committee joint) at the end of 2012 were about 172 million metric tons.

Mr Peter Freyberg, who heads the management activities of Glencore's coal, commented:

"We are pleased to be jointly acquiring a controlling interest in this mine with Sumitomo, joint venture partner for many years our other Queensland coal operations. Clermont is a low-cost mine large-scale offering an interesting financial return. In addition to being the third largest thermal of coal mine in Australia, Clermont is structurally low cost, with its sustained profitability since its report of life-of-mine low Strip 3.2: 1 [i.e. lower ratio of overburden to ore-ed], and the ability to bypass the 90% of coal without washing. "

"This investment is our focus on identifying high quality assets that complement our existing operations and marketing capacity. Going forward, we will further expand our relationship with Sumitomo where there are mutually beneficial opportunities. "

Mr. Toru Furihata, Senior Managing Executive Officer, Managing Director, mineral resources, energy, chemical & Electronics Business Unit of Sumitomo, for its part, commented:

"Sumitomo and Glencore have enjoyed a successful partnership for many years and we are delighted to expand this strategic relationship through the joint acquisition of Clermont, a high quality producing mine. We draw confidence from the mine operated by Glencore, given their strong track record of extracting maximum value from the resources of coal. We are very pleased to share joint control of the mine along with Glencore and we'll be happy to contribute to the stable supply of coal smoke, especially in the Asian region ".

Half the money for the acquisition will come from new funding to be provided by Australia and New Zealand Banking Group, on a basis of solute. The rest will be sent also by Glencore and Sumitomo. Subject to customary closing conditions and the necessary approvals, the purchase will close in early 2014.

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About Xstrata Glencore

Glencore is one of the largest global companies and diversified natural resources in the world. Glencore is a leader in integrated production and marketing of raw materials which seeks to grasp the value at every stage of the supply chain of natural resources. The Group has a global network of over 90 offices in more than 50 countries. It's industrial operations consist of more mining and metallurgical sites 150, offshore oil production goods, farms and agricultural structures.

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On Sumitomo Corporation

Sumitomo Corporation is a general trading company, headquartered in Tokyo, Japan, with 116 locations in 65 countries and 24 national positions. The Sumitomo Corporation group consists of nearly 800 companies and more than 70,000 staff and its business is expanding continuously in a diverse range of products and services.

Its core business units are metal products; Transportation construction systems &; & Environment of infrastructure; Lifestyle media, network, its goods & services; and mineral resources, energy, chemical & electronics.

 See other stories on Ivan Glasnberg:

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Your Fridge Will Never Be Empty Again with Smartli’s Automatic Grocery Shopping System

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Say goodbye to tedious shopping lists and aggravatingly long lines at the supermarket’s checkout counter: Smartli, an Israeli-based startup, has developed an automatic grocery shopping system that uses sensors to track which items are missing from your fridge, generates a personalized shopping list, and ensures that these items are delivered directly to your door at your preferred time.

According to an online survey conducted by Harris Interactive, 15 percent of US adults have shopped for groceries online, and an additional 19 percent say they don’t currently, but plan to in the future. Additionally, the survey reveals that one of the main impediments to online grocery shopping is the difficulty of creating a shopping list without seeing the items before your eyes. It is within this context that Smartli enters the arena.

Smartli is the brainchild of serial entrepreneur Iri Zohar, and is the application of the Internet-of-Things (a digital future in which objects are identified by and connected to the internet) in the world of grocery shopping. “I really like the advanced technology aspect of the Internet-of-Things (IoT) and I really like the consumer value… doing something which adds value.” He says.

A smart fridge that creates its own shopping list

Smartli uses IoT sensors, which “take an inventory” of the current groceries in your fridge. Then there is a “very advanced data mining engine, which looks at your consumption and figures out what you’re going to need without you having to do any work… It will combine what you have and what you need and come up with this week’s shopping list.” All that is required is for the user to approve the automatically generated list. The result, simply put by Zohar, “someone comes to your house and gives you everything you need.”

Moreover, Zohar is careful to mention that “we give you control, but it’s your choice how much control you want.” By this he means that the Smartli user is at liberty to modify the automated shopping list, by accessing it through his smartphone or computer.

But Zohar believes tools like Smartli won’t remove the human interaction aspect completely: “People who buy online, usually still buy many things offline… and I think that’s still going to be the case.” He is not worried about the “trillion dollar industry” of in-store grocery shopping.

Taking on the US market

Rather, Zohar envisions a future in which the supermarket will become a “more fun and engaging experience.” Customers will still go to the supermarket for the “stuff that people really like to touch and see and choose… the fresh fruits and vegetables, meat and bread,” but they will be able to avoid “carrying the heavy boxes” through technologies like Smartli.

Smartli recently received $277,000 from Michael Kattan (a member of the prominent banking family Safra), which accounts for the bulk of their funding. Other funds come directly from Zohar and other members of the company.

The company is currently conducting pilot projects in Israel and the US and their main focus remains in the US, “a convenient lab to test out technologies,” according to Zohar. Smartli plans to launch a more robust pilot in the US in 2014, but Zohar would not reveal any details.

NoCamels, Israeli Innovation News

Mark Pincus’s Taking A Back Seat Seems To Be Working As Zynga Cuts Their Losses In The Third Quarter

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After stepping down in July from the role of CEO, Pincus can only watch and wonder how his replacement appears to be leading the company into more tranquil waters.

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Pincus, still the major shareholder in the online gaming company that he founded,  must be experiencing some mixed feelings as Don Mattrick,  the CEO that came in to replace him shows some initial signs of turning the company round.

With Mattrick at the helm visiting you had a more encouraging quarter in comparison to some of the last few that Pincus managed when he was still running the company. Don Mattrick has succeeded in cutting back on losses during the third quarter, but income for the company has continued to fall while statistics show that considerably less people are playing Zynga games than they did.

The last few months of being among the most difficult for Mark Pincus in his career as an online entrepreneur, not made any easier by the fact that during that time, Candy Crush now reported to be the hottest online game of all time, is breaking records in terms of revenue, pulling in not far from one million dollars every day from its online followers in every corner of the world. Candy Crush’s developers, UK-based King in the latter stages of preparing an IPO.

However, all is not doom and gloom at Zynga, whose shares jumped by twelve percent after news of their less disappointing than expected results broke.

Shareholders obviously feel that their arrival of Don Mattrick from Microsoft which he was in charge of their Xbox division has had a calming influence on the day-to-day running of the San Francisco Company.

Another piece of significant news for Zynga is that Mattrick has done a serious piece of headhunting, pulling in a former colleague, Clive Downie to take up the role of chief operating officer at the Zynga. Downie will take up his position almost immediately, after apparently being attracted to the challenge he will obviously face at Zynga, and will be leaving his current employees, mobile game maker DeNA. Downie and Mattrick have a long-term working relationship which they formed when they worked together at Electronic Arts Inc. another video game maker

Zynga has made a major breakthrough by enticing Downie to join the company as he comes with tremendous expertise in mobile games. Zynga has suffered badly under Mark Pincus, with industry experts point to the fact that his failure to lead the company forward into a transition to mobile, which has virtually eliminated the desktop computer from the gamers’ philosophy. Zynga’s most popular video games, particularly “FarmVille” and “Mafia Wars,” were designed and produced principally to be played on desktop and laptop computers, which are slowly making their way into history especially among the under twenty-five’s.

Most industry analysts agreed that failing to recognize the strength of the switch to mobile is what cost Mark Pincus his role as CEO as well as creating some massive losses at Zynga. Losses which caused company stock to drop as much as 60 percent from the opening price of $10 on offer when the company went public almost two years ago.

During Pincus’s last few days in the post as CEO , Zynga instigated a major cost-cutting exercise, by cutting his payroll dramatically, laying off more than five hundred  employees, or 18 percent of its payroll.

Industry analysts expect that the effects of the cost-cutting should be enough to trim Zynga’s losses for the fourth quarter due to end in December. Estimates are that the losses could range between $21 million to $31 million, a major improvement on the $49 million that the Zynga lost in the same quarter in 2012.

Despite the fact that Zynga reported a loss of $68,000 in the three quarters up to the end of September, their shares gained 44 cents to $3.98 in extended trading Thursday, making for a spectacular improvement from the losses of $52.7 million, equivalent to seven cents per share, for the corresponding period time last year.

For the period Zynga’s income dropped by 36 percent to $202.6 million, although it was around $13 million more than had been expected.  What must be waiting for Mark Pincus as well as the management team at the Zynga is that the average number of people playing Zynga’s games regularly during the third quarter was reported to be in the region of thirty million, half of what it was for the same time last year. For the same quarter, industry estimates point that around one hundred million people played the Candy crush on their Smartphones and pads.

Mark Pincus was born and raised in Chicago . After graduating with a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania Mark Pincus spent a number of years learning the ropes of the venture capital and financial services industries, working for two years as a financial analyst in New York with Lazard Freres & Co., after which he spent four years in exotic Hong Kong, filling a Vice President‘s post at Asian Capital Partners for two years.

After completing his stint in Hong Kong, Pincus decided that the time was right to gain his masters degree, which he from Harvard Business School.

After leaving Harvard Pincus was appointed manager of corporate development at Tele-Communications, Inc., which have since become part of AT&T Cable, later joining. Columbia Capital as Vice President, where he had his first encounter with the fast growing world of hi –tech as head of the department that handled investments in new media and software startups.

Mark’s time at Columbia Capital obviously gave him a taste for the opportunities available in the industry and just a year later, in 1995; he launched his first startup, a push technology service under the title of Freeloader, Inc., which he succeeded in selling after just seven months picking up a cool $38 million.

It took Pincus just a few months to establish his next hi-tech venture, Support.com, which he succeeded in building into one of the Internet’s leading software providers for the service and support industry, taking the company public in 2002.

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Japanese Daily “Nikkei”: Israeli TowerJazz In Talks To Buy Panasonic Fabs

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AppId is over the quota

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“Nikkei”: Panasonic has started talks to sell some overseas plants to Tower, with a deal likely to be reached before early next year.

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Panasonic Corporation (TSE: 6752) is in trouble, and Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) may be a beneficiary. Japanese daily “Nikkei” reports that Panasonic has started talks to sell some overseas plants to Israeli circuit-maker TowerJazz with a deal likely to be reached before early next year. According to “Nikkei”, Panasonic plans to cut 7,000 jobs from its semiconductor business, half its workforce, by March 2015, in order to deal with the company’s $15 billion in losses in the past two years.In view of Panasonic’s financial shape, if and when a deal is reached in the talks, the price that Tower will pay for the fabs is unlikely to be high. If a sale materializes, it would expand Tower’s foothold in Japan. Two years ago, it acquired the Japanese fab of Micron Technology Inc. (NYSE: MU) in Nishiwaki City. Tower needs additional production capacity to meet rising demand from its customers and to prepare for potential business in Japan.

The purpose of the acquisition is to enable Tower to meet its business target of $1 billion annual sales by 2014. The Nishiwaki fab is currently operating at one quarter capacity, after Micron reduced its procurement of chips from it.

In addition, two years ago, Tower bought a second fab in Japan, reportedly for tens of millions of dollars.

Tower declined to comment on the report.

Published by  www.globes-online.com

Israel Aerospace Industries has the discovery system of the multi-sensor Mine

The demonstration model is scheduled to be ready for field testing by the end of 2014.

MIDS

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Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.Ramta Division B1) has completed the last phase of the engineering tests and started the construction of a technology demonstrator of a multi-sensor system, called ' Mid ' (mine and IED Detection System) for detection of buried deep and surface laid mines and improvised explosive devices (IEDs). The new system was on display at last week's Association of the U.s. Army (AUSA) in Washington, DC.

MIDS will be distributed on a commercial light armored, tracked or wheeled, (manned or unmanned) vehicle engineering according to customer requirements. Will an advanced georadar (GPR) and metal detectors (MD) arrays in high threat environments to locate mines laid buried deep and surface/IEDS in and next to the trail, forces advancing the manoeuvre. The two major arrays (GPR and metal detectors) produce data that will be combined to analyze real-time readings, minimizing false alarms from non-threatening materials such as rocks, wood and other debris.

An on-board optical payload-IAI-made day & night will provide remote workers with situational awareness and enable the Visual surveillance from a safe distance. Navigation systems on board allow the vehicle to follow a precise series of preprogrammed or designated operator waypoints and record and transmit the exact position of the threats.

MIDS will remotely operated weapon system slaved to the electro-optical payload for self-defense against enemy combatants or detonation of threats on operator's command. The system is also equipped with a small blade can eliminate the obstructions and lane-marking/designating painting is a safe location for the following vehicles/troops and to outline the position of the discovered threats.

All the development and construction of the technology demonstrator is held at Chillicothe facility. The demonstrator is scheduled to be ready for field testing by the end of 2014.

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Alcobra Raises $33 Million In Secondary Nasdaq Offering

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The ADHD treatment developer raised $27 million in its IPO in May.

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Alcobra Pharmaceuticals Ltd. (Nasdaq: ADHD) raised a gross $33 million in its secondary offering on Thursday. The company issued two million shares at $16.50 per share. The underwriters, Stifel Nicolaus, Aegis Capital Corp., JMP Securities have a 30-day option to buy additional 300,000 shares. Alcobra will use the proceeds for the development of its proprietary drug, MG01CI (Metadoxine extended-release), for the treatment of ADHD and Fragile X Syndrome, a factor in autism.

Alcobra raised $27 million in its IPO in May.

Alcobra’s share price closed at $17.01 on Friday, giving a market cap of $189 million, after falling 0.5% during the session.

Published by http://www.globes-online.com/ 

$46 Million Raised at UJA-Federation of New York’s 2014 Campaign Kickoff Event

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(L-R) UJA-Federation of New York:  Jeff Stern, Campaign Chair; Rt. Hon. Tony Blair; Linda Mirels, Chair of the Board ; Alisa Doctoroff, President ; and John S. Ruskay, Executive Vice President and CEO of UJA-Federation of New York / Michael Priest

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UJA-Federation of New York raised a record-breaking $46 million, an increase of $1 million from last year, at its 2014 Annual Campaign kickoff event held at the home of Merryl and James Tisch on October 24, 2013. A record turnout of 150 philanthropic leaders from the New York Jewish community gathered to pledge their support of UJA-Federation’s work to address economic, educational, and community needs, and respond to local and global crises.

“No other organization is better prepared to meet the needs in our community, every day and in the time of crisis, than UJA-Federation,” said Alisa Doctoroff, president of UJA-Federation of New York. “This is what makes UJA-Federation so unique, and this is why the leaders of the philanthropic community trust and choose UJA-Federation to determine how best to allocate funds to make the biggest impact.”

“Our campaign has launched successfully because of unmatched acts of charitable kindness,” said Linda Mirels, chair of UJA-Federation’s board. “This generosity will be felt throughout the community, when UJA-Federation provides critical support for its unparalleled network of camps, community centers, Hillels, human-service agencies, and overseas agencies.”

“Through our collective efforts, UJA-Federation can respond to both crises and opportunity,” said John Ruskay, executive vice president and CEO of UJA-Federation. “Last year at this time, Hurricane Sandy hit. Even as we were responding boldly to emergency needs, we were sending kids in Moscow to Jewish summer camps, bringing Ethiopians home to Israel, and making sure that Holocaust survivors didn’t go without care. That is the power of UJA-Federation and what we make possible.”

Launched nearly 30 years ago, the annual campaign kickoff event has brought together leading philanthropists who care deeply about strengthening the Jewish community and has raised more than $800 million.

Rt. Hon. Tony Blair, former prime minister of Great Britain and Northern Ireland, was the guest speaker, discussing the work of his foundation and his commitment to working toward peace in the Middle East.

About UJA-Federation of New York

For more than 95 years, UJA-Federation has been a central force for communal planning and philanthropy in the New York Jewish community. Through UJA-Federation, almost 60,000 donors pool, nearly 100 network beneficiary agencies, synagogues, and other Jewish organizations, in more than 70 other countries around the world, touching 4.5 million people each year.

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Next holds Up Abramovich for $ 23 million ransom on the floor of the New York Mansion

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Russian billionaire Roman Abramovich is locked in a stalemate with a woman who is demanding US $ 23 million for his Manhattan apartment, in its tender reported to take an entire historic building, according to the New York Post last week.

We reported three weeks ago about Roman Abramovich planned buying three units, a beautiful former private residence located at 828 Fifth Avenue in New York, for US $ 75 million. The building is located at Lenox Hill, Manhattan, on the corner of 64th Street and of course with a view of Central Park. It was built in 1886 in pseudo French Renaissance and even once was described by architectural historian John Taurananc as "about as near as New York residential Versailles has to offer."

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828 Fifth Avenue

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For the owner that preceded him, Howard English which kept Ronson has now entered into an agreement to sell the apartments, Abramovich had been a longtime dream to buy other remaining units. Designed to restore the Palace to its former splendor as a single-family house that was originally for American coal Baron Joseph Berwind. It was only later disappeared and divided in the 1920s to become a coop building, although "ne plus ultra" – that is exquisite and exclusive of all others.

Over the years, many observers thought the task of Howard Ronson existing regulations impossible then co-op, and so it proved in the course of his life. But after the building changed towards the direct involvement of the condominium, in itself reflecting the imperatives of planning against the whole notion of exclusivity, took a little easier the legal process and it became just a matter of price.

If anyone can do it will be Roman Abramovich, and it looks like he now need to buy the apartments of two more residents of the building in order to be able to restore the mansion of a unique residence, according to the Post.

Clearly at least one hold-out understands that, after Abramovich offered his reported US $ 15 million: "she is not leaving for less than $ 23 million. He can afford it, "the New York Post quoted a source as saying in his report.
One of the owners, the designer Adolfo Sardina, have reportedly already entered into an agreement with Abramovich at a price of between US $ 10 million and US $ 15 million for his apartment. A source told the newspaper that the sardine also asked and obtained at least a year to move. If so then the final check, a lady reported a Eugenia Olazabal, who apparently lived there for over thirty years now can have a lot of leverage.

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Deal of reported US $ 75 million by Abramovich just to units that have committed to purchase so far, would be a record price for an apartment in New York, surpassing the US $ 54 million paid by American Entertainment Mogul David Geffen last year for another property of Fifth Avenue. However the reports of other high-priced transactions are bandied about in New York real estate talk these days too, like candy, as the city continues to be a magnet as the destination address and luxury for the super-rich in a turbulent world.

The goal of restoring the mansion to former glory not Berwind-demised in itself is quite a beautiful, although it is certainly now going to make obscene amounts of money to do it. We can say objectively what could be spent in ways less extravagant for sure and probably do more good for humanity too. However, Howard Ronson, who died in 2007 with the unfulfilled dream, certainly greatly approve of it for sure. And I do really well at the end, just like an external observer.

After all, after some years of Abramovich and Dasha Zhukova and brilliant live in it and enjoying it, inevitably claim its appointment mortality inexorable and could someday end up in public hands; Maybe as a museum. In New York City generations of rich have always come and gone, but the real gems on the island of Manhattan somehow manage to remain intact during all the dramas, the turmoil and conflicts that may accompany the lives of their owners.

Then it all starts again with the next generation of owners, or maybe "keepers" or "temporary" keepers can be better descriptions. These important trophy buildings themselves can remain silent, but in a sense are the true guardians of their heritage and manage successfully to indoctrinate their successive generations of owners regarding their lasting value.

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Thor Equities LLC Aquairs Barneys Department Store Building In Chicago For $154 Million

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 Barneys department store building in Chicago

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Thor Equities LLC  the New York-based real estate investor signed a contract to acquire  Barneys department store building on Oak street, Chicago , for $154 million. The price represents a 32 percent jump from the $117 million that the seller, New York-based Property and Building Ltd. (TASE:PTBL) subsidiary of  Tel Aviv, Israel-based IDB Holding Corp. Ltd. (TASE:IDBH) , paid for the property in March 2011. According to Israeli Globes, the company bought the property for $ 122 million of which $42 million was financed from equity and $80 million was financed with a long-term loan.

Barneys New York occupies 90,000 square feet of the building under a lease that runs through 2024. A Citigroup Inc. bank branch occupies the remaining 4,600 square feet.  The building generated $10.1 million in net operating income last year, according to a Bloomberg L.P. report on an $80 million loan encumbering the property. That would make Thor’s initial yield, or capitalization rate, on the sale about 6.6 percent.

The transaction is among the most expensive retail property sales in the downtown Chicago in recent years.

The sale price reflects the property’s fair value in Property and Building’s books, and it will not report an accounting gain or loss on the deal. Property and Building CEO Segi Eitan told Globes , “The Barneys’ deal reflects the company’s ability to locate and improve unique income-producing assets in terms of their location, timing, and quality of their tenants. The cash-on-cash yield on the company’s investment is 94%”.

$ 46 Million Raised at UJA-Federation of New York's 2014 Campaign Kickoff Event

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(L-R) UJA-Federation of New York:  Jeff Stern, Campaign Chair; Rt. Hon. Tony Blair; Linda Mirels, Chair of the Board ; Alisa Doctoroff, President ; and John S. Ruskay, Executive Vice President and CEO of UJA-Federation of New York / Michael Priest

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UJA-Federation of New York raised a record-breaking $46 million, an increase of $1 million from last year, at its 2014 Annual Campaign kickoff event held at the home of Merryl and James Tisch on October 24, 2013. A record turnout of 150 philanthropic leaders from the New York Jewish community gathered to pledge their support of UJA-Federation’s work to address economic, educational, and community needs, and respond to local and global crises.

“No other organization is better prepared to meet the needs in our community, every day and in the time of crisis, than UJA-Federation,” said Alisa Doctoroff, president of UJA-Federation of New York. “This is what makes UJA-Federation so unique, and this is why the leaders of the philanthropic community trust and choose UJA-Federation to determine how best to allocate funds to make the biggest impact.”

“Our campaign has launched successfully because of unmatched acts of charitable kindness,” said Linda Mirels, chair of UJA-Federation’s board. “This generosity will be felt throughout the community, when UJA-Federation provides critical support for its unparalleled network of camps, community centers, Hillels, human-service agencies, and overseas agencies.”

“Through our collective efforts, UJA-Federation can respond to both crises and opportunity,” said John Ruskay, executive vice president and CEO of UJA-Federation. “Last year at this time, Hurricane Sandy hit. Even as we were responding boldly to emergency needs, we were sending kids in Moscow to Jewish summer camps, bringing Ethiopians home to Israel, and making sure that Holocaust survivors didn’t go without care. That is the power of UJA-Federation and what we make possible.”

Launched nearly 30 years ago, the annual campaign kickoff event has brought together leading philanthropists who care deeply about strengthening the Jewish community and has raised more than $800 million.

Rt. Hon. Tony Blair, former prime minister of Great Britain and Northern Ireland, was the guest speaker, discussing the work of his foundation and his commitment to working toward peace in the Middle East.

About UJA-Federation of New York

For more than 95 years, UJA-Federation has been a central force for communal planning and philanthropy in the New York Jewish community. Through UJA-Federation, almost 60,000 donors pool, nearly 100 network beneficiary agencies, synagogues, and other Jewish organizations, in more than 70 other countries around the world, touching 4.5 million people each year.

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Master Builder muore Paul Reichmann mondo a 83

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Paul Reichmann / foto CP

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È morto Paul Reichmann. Secondo un portavoce della famiglia è morto venerdì mattina all'età di 83 anni.
Paul Reichman era uno dei cinque fratelli che hanno lasciato Tangeri, in Marocco, per emigrare in Canada. Marocco era stato una stazione per la famiglia che prima era fuggiti dalle persecuzioni in Vienna.

Là lui e suo fratello Albert costruito privato sviluppo società Olympia e York in quello che divenne per un tempo la più grande azienda di proprietà commerciale nel mondo. Dopo tutto sprofondato in un mare di debito come il crollo immobiliare di diciannove anni novanta ridotto gli affitti e svuotato la società della liquidità che doveva cavalcare le tempeste.

Tuttavia Paul Reichmann ha cambiato la mappa delle proprietà commerciali delle tre città – Toronto, New York e Londra con tre enormi sviluppi.
A Toronto ha costruito il primo schiaffo complesso canadese posto nel mezzo del centro città, emulando con successo la costruzione precedente della famiglia Bronfman del Toronto Dominion centro lungo la strada.

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Primo posto canadese a Toronto

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A New York che ha costruito il Cesar Pelli progettato World Financial Center su discarica a Battery Park. Questo è stato solo attraverso la strada dal centro del commercio mondiale, ma al momento è stato considerato affine a essere da qualche parte vicino alla luna.

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World Financial Center di New York

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A Londra iniziò lo sviluppo massiccio di Canary Wharf nell'east end di Londra che, quando fu terminato, totalmente spostato il centro di gravità finanziario della città. Nel processo ha perso il controllo del progetto quando era ancora incompiuta, dopo che la sua società è stata costretta alla bancarotta nel 1992. Ha comprato nel progetto pochi anni più tardi però, solo per colpire il muro della grave recessione successiva, innescato dalla crisi finanziaria del 2008, quando ha perso il suo palo una seconda volta a un recupero della banca.

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Canary Wharf a Londra

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Come un ebreo osservante tutta la vita sua società Olympia e York sempre chiuse completamente per il Sabbath.

Reichmann nacque a Vienna nel 1930 da Samuel Reichmann, un mercante benestante uovo e sua moglie di René. la famiglia era ebrei ortodossi che proveniva da una piccola città in Ungheria, ma suo padre ha trovato successo a Vienna come un mercante.

La famiglia sfuggita all'occupazione nazista dell'Austria, il "Anschluss", che ebbe luogo il 12 marzo 1938 per puro caso, come aveva lasciato, quel giorno fatidico molto nella storia austriaca ed europea, a visitare il nonno di Paul in Ungheria, che aveva subito un ictus.

Dando le loro vite a Vienna in un sol colpo, fece loro dall'Ungheria a Parigi, stabilendosi inizialmente ci come tali molti emigrati. La famiglia Reichmann furono costretti a fuggire di nuovo quando la Francia cadde ai tedeschi, alla fine fanno il loro senso alla città neutrale di Tangeri. A Tangeri, la famiglia prosperò come Samuel è diventato un trader di valuta significativa. Dopo la guerra era finita, allora adolescente Paul ha lasciato casa per studiare la religione prima in Gran Bretagna e poi in Israele, e divenne un rabbino. Nel 1953 è tornato in Marocco per diventare un rivenditore di camicia e a sposare sua moglie Lea, e poi nel 1956 l'intera famiglia alzato posta in gioco ancora una volta per venire in Canada, dove Paul cominciò a costruire il suo impero immobiliare da zero.

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Indian Bank SIDBI Seeks Israeli Investments In water technology, agriculture, communications and renewable energy

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The Small Industries Development Bank of India is seeking investments in Israel and the bank intends to establish a joint investment fund with Kaenaat.

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Small Industries Development Bank of India (SIDBI)

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The Small Industries Development Bank of India (SIDBI) is seeking investments in Israel – the bank intends to establish a joint investment fund with Kaenaat, a company that deals with investments in emerging markets. Kaenat chairman, Yariv Cohen, told “Globes” that the new fund will focus its operations on assisting small and medium Israeli companies that are looking to enter the Indian market, or to expand their activity in India, in Indian sectors that have been marked as having the potential to encourage growth. The collaboration agreement between the bank and the investment company was signed recently, after representatives from the bank made several trips to Israel.

“This is the first time that SIDBI is seeking an international partner with whom to invest, and we are glad that the bank chose Israel. We are talking about a world-leading, top-tier financing and development body that has far-reaching influence on the development of Indian industry,” says Cohen. Among the instruments that the bank is using to support small and medium businesses are investments, loans, risk insurance, and managerial and strategic support for companies following the investment. Until now, the bank has focused its activity within India, and has supported 10,000 local businesses, in part through 4 investment funds.

Cohen said, “The collaboration between Israeli companies and the joint fund could broaden the trading volume between the two countries, which today does not reflect even a small part of the potential.” Cohen noted that Israeli companies can provide a response to Indian market needs in areas such as water technology, agriculture, communications and renewable energy: “SIDBI’s ability to identify the most suitable Indian partner for collaboration with an Israeli company, to build the partnership, and to support it using the wide array of vehicles at its disposal, makes it the correct partner for investments in India,” he said.

Yesterday, Minister of Economy, Naftali Bennett, flew out on a business trip to India, during which he is scheduled to meet with India’s Ministers of Treasury and Economy. During his five-day trip, Bennett is scheduled to meet with senior officials in the Indian economic system to discuss strengthening the collaboration between the two countries. Trade totaled $4.4 billion last year.

Published by  www.globes-online.com