CTech's Tuesday Roundup of Israeli Tech News
If coronavirus crisis persists, the economy will be significantly impacted, says Bank of Israel
If coronavirus crisis persists, the economy will be significantly impacted, says Bank of Israel. The bank’s monetary committee maintained Israel's benchmark interest rate at 0.25%, but stated the outbreak in China throws the global and Israeli economy into uncertainty and could lead to an interest cut in the future. Read more
Interview | Diminished growth could hurt Israel’s credit rating, says S&P global executive. Karen Vartapetov warns that a lengthy political crisis could have a negative impact, especially on the business sector, but is less worried about the long-term strength of Israel’s economy and its budget deficit. Read more
Karen Vartapetov. Photo: Abigail Uzi
TripActions raises debt facility of up to $500 million. Backed by Silicon Valley Bank, Goldman Sachs, and Comerica, TripActions intends to offer companies a virtual credit card to cover employee travel expenses. Read more
Interview | The markets realized the coronavirus is another SARS and moved on, says Stifel CEO. Ronald Kruszewski, CEO of American investment bank Stifel, believes that a democratic president threatens the U.S. stock market a lot more than the Coronavirus. Read more
Cancer Treatment Company KAHR Medical Raises $18 Million. The company intends to use the funding to advance its immuno-oncology drug candidates, especially its lead product, DSP107, tested for the treatment of solid tumors. Read more
Personal assistant robot developer Temi raises $15 million. Temi develops a personal voice-activated robotic personal assistant on wheels, capable of following its owners from room to room while carrying small objects, playing music, making video and voice calls, and controlling smart-home devices. Read more
Anti-cyberbullying startup L1ght raises $15 million. L1ght develops technology to combat the online bullying of kids, which analyzes texts, videos, and soundbites to recognize hate speech, cyberbullying, and online threats. Read more
HP Indigo places thousands of its employees in Israel on mandatory leave. HP Indigo currently employs 4,000 people globally, 2,600 of them in Israel. Read more
