In an impressive display of innovation and resilience, nine Israeli startups have secured a whopping $142 million (€130 million) in grants from the European Union’s prestigious Horizon accelerator program. This funding surge comes at a crucial time, as many fledgling companies grapple with the challenges of raising essential funds amidst ongoing conflict with the Hamas terror group.

17 July 2024

Read more: Innovation Nation: Israeli Startups Secure $142M from EU Horizon Program

In a groundbreaking move set to redefine the tech industry's landscape, Alphabet, the parent company of Google, is poised to make its most significant acquisition to date. According to an exlusive report by The Wall Street Journal, the tech giant is reportedly in advanced negotiations to acquire the cybersecurity startup Wiz in a staggering $23 billion deal. This acquisition, if finalized, will not only be Alphabet's largest but will also surpass Intel's purchase of Mobileye by over 50%, marking the highest price ever paid for an Israeli tech company.

15 July 2024

Read more: Alphabet Eyeing $23B Acquisition Of Wiz: Largest Ever For Israeli Tech

Since the onset of the Iron Swords War in October, Israel has witnessed an alarming and unprecedented collapse in its business sector. According to a recent report by Israel’s Maariv newspaper, an astonishing 46,000 Israeli companies have shuttered their doors, with projections suggesting this number could surge to 60,000 by the year's end. Yoel Amir, CEO of business information company CofaceBDI, described this as a catastrophic blow to the nation's economy, encompassing a broad range of sectors.

11 July 2024

Read more: The Cost Of War: 46,000 Businesses Closed Since October 7th

The fiscal health of Israel has taken a significant hit, with the Ministry of Finance accountant general Yali Rothenberg revealing that the fiscal deficit has skyrocketed to a staggering 7.6% of GDP over the past 12 months. This alarming increase translates to NIS 146 billion, reflecting a sharp rise from 7.2% at the end of May.

08 July 2024

Read more: Israel's Fiscal Deficit Soars To 7.6% Of GDP Amid Rising War Costs

Israel’s Committee of Directors General on Foreign Workers, under the stewardship of Prime Minister’s Office Director General Yossi Shelley, has sanctioned an additional quota permitting up to 14,300 more foreign workers to enter Israel. This decisive move aims to alleviate the severe labor shortages stemming from the ongoing conflict with Hamas in Gaza.

04 July 2024

Read more: Israel Approves 14,300 More Foreign Workers To Address Labor Shortages