CTech’s Daily Israeli Tech News Roundup
Backlash against Trump’s Jerusalem declaration has reached Israeli tech. AmTrust is planning a listing on Tel Aviv Stock Exchange. Teva’s stock is up following news of more layoffs.
Tencent, Singulato, Cancel Visits to Israel Amid Jerusalem Travel Warning. Business delegations from Japan and China canceled planned visits to Israel this week due to safety concerns following U.S. President Donald Trump’s decision to recognize Jerusalem as the capital of Israel, which has caused regional unrest since Wednesday. Read more
AmTrust is planning a listing on Tel Aviv Stock Exchange. The chief executive of the New York insurance firm is visiting Israel for meetings with institutional investors to discuss a Tel Aviv Stock Exchange launch. He is also planning a to conduct a $500 million bond offering in Israel. Read more
Teva’s stock is up following news of more layoffs. After reports last month the pharmaceutical company would cut 4,000 employees, Bloomberg reported Friday that Teva might be slashing as many as 10,000 jobs. Teva’s stock jumped 7% on Nasdaq Friday market close, and was up 8.33% on the Tel Aviv Stock Exchange at Sunday market open. Read more
Gilead builds on Kite Pharma acquisition, buys second CAR-T therapy company. Gilead will buy Cell Design Labs Inc. in a deal that values Cell Design Labs at up to $567 million. Read more
Microsoft leases coworking space in Tel Aviv suburb. Microsoft is temporarily relocating some of its research and development activity to the location, leased from coworking real estate company Mindspace, until the company opens a new campus nearby in 2020. Read more
Israel-India relations. Author and entrepreneur Devsena Mishra weighs in on what opportunities are opening up for Israeli entrepreneurs as India’s rapid growth continues. Read more
Tech companies will lead the Israeli economy within a decade, says venture capitalist Chemi Peres. Mr. Peres is a co-founding partner at venture capital firm Pitango and the son of the late Israeli President Shimon Peres. Read more
Why Should Anyone Want to Buy You? Zachi Zach, a lawyer entrepreneur, offers advice about how startups can increase their exit opportunities. Read more
