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American-Israel Chamber of Commerce, Southeast
Region
400 Northridge Road, Suite 250, Atlanta, GA 30350
Tel:
(404)843-9426 Fax: (404)843-1416 e-mail:
aiccse@aiccse.org website: www.aiccse.org
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| October 14, 2008 |
| From The Leadership |
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A little less than two months ago, our annual Professional Seminar examined US-Israel business activity through the lens of "economic uncertainty". The succeeding weeks have seen unprecedented decline in the stock markets, gas shortages, impending changes in both the US and Israeli political administrations, and Wall Street bailout. The state of the economy in August seems almost stable by comparison.
US-Israel business is not immune to these outside forces, nor is our own organization. Yet as evidenced in the articles below, Israel continues to amaze with its amazing technologies, creative entrepreneurship, and focus in sectors of great demand. And AICC continues to be the focal point to bring together these companies with ours through our members' networks and expertise. Our models are effective, and our Chamber is strong and nimble enough to navigate the rough shoals and currents ahead.
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| Upcoming Calendar Events (click on event for details) |
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| Sponsor Message |
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Whether you are having an intimate gathering of friends in your home, a wedding and reception at our Event Gallery at the King Plow Arts Center, or a gala corporate event at one of Atlanta's premiere venues, Bold American will make your party exceptional. Like in any Fifth Group restaurant, you'll find our staff friendly and professional, our made-from-scratch food delicious, and our décor and design imaginative. Our events appeal to all of the senses. Visually you can expect beautifully designed buffets and plate presentations and at our chef-attended stations, your guests will observe our fresh ingredients turned into flavorful and aromatic dishes. This combination of sights, smells and textures make Bold American Catering events the most talked about in Atlanta.
For more information please contact: Michelle Michelman - mmichelman@boldamerican.com or 678-302-3234. |
AICC offers an exclusive sponsorship for each e-Newsletter. For information
on sponsoring future e-Newsletters, contact Shelley Samach,
aiccse@aiccse.org.
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| The Latest News |
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Developments & Transactions |
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Israeli Companies Contacting Us |
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Headache Relief - Misgav-based start up has developed an innovative, patent-pending medical device that has proven to be an effective treatment for patients suffering from chronic headaches and neck pain. Designed for healthcare professionals such as physical therapists and pain specialists, and is computer-controlled and programmable to meet individual patient's needs to gently move the head along a three-dimensional course predefined by the practitioner. Cost-effective, flexible, portable, and easily attaches to treatment tables. Seeking investment to facilitate R&D, clinical trials, regulation & reimbursement, marketing launch, and manufacturing.
Camera System - Kfar Saba-based developer of a new camera-based technology in a unique package that integrates key surveillance and monitoring functions - including remote camera, processor, communication, and power - into a miniscule unit that can be readily deployed anywhere. Provides dense coverage over multiple access points, thus avoiding the usual gaps or dead-spots in the surveillance area, and eliminates the normal video streaming information overload from conventional video surveillance technology. Seeking introduction to utilities with remote assets (e.g. cell towers), constructions sites, and integrators.
Wastewater Treatment - Jerusalem-based start up has developed new solutions for sludge dewatering and wastewater treatment for a whole range of small production plants. Potential customers include metal finishing; microelectronics; printing; paints, inks, and resins manufacturers; tanneries; food processing; large printing presses; animal manure; corrugated board; parts cleaning; high pressure cleaning; shipyards; wineries; olive oil presses; paper; textile; leather; and activated sewage plants for small communities. Seeking introduction to small-to-medium size company in sales and marketing of water treatment to serve as marketing and sales partner for the US market.
Office Communication - Azur-based developer of a unique solution that enables wireless operators to provide a complete office communication service (voice, data, video, mail, internet, fax) over their wireless networks to small-to-medium size businesses and at home offices. Blends an embedded IP PBX, Data Router, and Fixed-Mobile-Convergence gateway with WiFi access points to deliver enhanced business productivity and reduced costs. Seeking introduction to wireless operators. |
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Economic News From Israel |
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The Governor Changes Strategy
Central Bank Interest Rate, October 2006-October 2008
(percent)
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Source: Bank of Israel
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The Bank of Israel was scheduled to announce its interest rate policy decision for November on October 27 (generally the announcement is made on the last Monday of each month). From June through September 2008, the central bank raised interest each month by 0.25% (from 3.25% to 4.25%), the reason: concern about accelerating inflation. At the end of September, the decision was made to leave interest unchanged in October at 4.25% and for the first time, the Bank's press statement made mention of a strong likelihood of a slowdown in economic activity in the second half of 2008. The feeling among analysts was that at the end of October, interest might well be reduced.
But the turmoil in financial and capital markets during September and in early October, with fears of a global recession, clearly forced the Bank's hand. On October 7, Governor Stanley Fischer announced a 0.5% cut in interest, to go into force from October 12. This surprise decision is proof of a ratcheting-up of the central bank's concern about the effect of the global recession on the Israeli economy. There are already obvious signs that a slowdown has begun, tax revenues are falling, imports are declining, but the interest rate cut is the first policy decision that reflects understanding of current trends in activity.
At the same time, policy-makers are issuing calming statements that the worsening global financial crisis will not affect the Israeli financial system severely and that Israeli banks remain stable. Despite demands by some politicians that a security net be established to protect savings and pensions of the public (on the lines of the emergency package adopted in the US), Government spokesmen tend, at least for the moment, not to take steps in this direction.
The stock market's reaction to the interest rate cut was immediate: October 7 witnessed sharp increases in all major stock price indexes, at a time when indexes in most stock exchanges around the world continued to plummet. However, global developments during September and October have shown that sharp increases in stock prices can turn out to be one-day stands.
The uncertainty in Israel continues, therefore, as it does around the globe. Companies expressed their pleasure with the interest cut and asked for more. It will therefore be interesting to see if the Bank of Israel will take advantage of its scheduled interest rate announcement on October 27 to indeed lower interest further.
Provided as an information service by I-Biz - Israel Business Information Services Ltd. For more information on I-Biz - Information Services, visit www.i-biz.co.il or contact info@i-biz.co.il.
| I-Biz is offering its widely-subscribed monthly electronic macro-review - The Israeli Economy: Current Highlights - to AICC members at a special price of $240 (33% off the regular price) for an annual subscription (12 monthly reports). Contact Yaacov Fisher at fisherya@i-zib.co.il for more details and to receive the most recent issue of the review. |
- The Discoverii camera system of Atlanta-based Vumii which maintains its R&D headquarters in Israel, has been named by the Wall Street Journal as the "Technology Innovation Award" winner in a Physical Security category. According to the Journal, they were selected for developing a night-vision camera technology that uses a near-infrared laser to illuminate an area.
- Kfar Saba-based Infogen won the "Most Innovative Carrier Infrastructure" award sponsored by Atlanta-based GSMA as part of their Mobile Innovation Global Awards competition. In February, Infogen will go to the Mobile World Congress in Barcelona where it will compete against its peers from other countries in GSMA's competition aimed at promoting cellular technology worldwide.
- Lorin Coles, CEO of Atlanta-based Alliancesphere and vice chairman of the Board of the American-Israel Chamber of Commerce Southeast Region, was named by Catalyst Magazine as one of its top 25 entrepreneurs of the year. Alliancesphere creates strategic partnerships for companies worldwide including a number of start ups in Israel.
- Comcast has licensed new business and operational support products from Ra'anana-based Amdocs. Under the new agreement, Comcast will deploy customer care, billing and OSS solutions based on Amdocs CES 7.5, its new portfolio of products. Amdocs has major operations in Atlanta.
- Caesarea-based Mazor Surgical Technologies with its US headquarters in Atlanta has obtained EU CE Mark certification for use of the company's SpineAssist miniature robot for guided oblique lumbar interbody fusion procedures in the EU. The certification is the first milestone in the development and approval of this procedure. Mazor and surgeons at the Cleveland Clinic Foundation jointly developed the minimally invasive spinal surgical GO-LIF procedure under a strategic agreement signed in April 2008.
- The Megiddo Regional Council has requested proposals for the construction and operation of the new history tourism site of the ancient Christian prayer house at the Megiddo Junction. The archeological site was discovered during a renovation project at the national prison there. Yokneam-Megiddo is the official partnership region in Israel of the Atlanta Jewish community.
- Israel recorded over two million tourist entries for the year as of August, a milestone figure that has been a full-year goal for many years. In August, 264,000 tourists visited Israel, an increase of 18% over the previous year and 2% more than August 2000, Israel's record year for tourism, according to the Ministry of Tourism.
- Israel's unemployment rate stood at 6.1% of the civilian labor force in July 2008, the same level as in the preceding three months and 1.1% lower than the same month in 2007, according to the Central Bureau of Statistics.
- Israel's population at Rosh Hashanah 5769 stands at 7,337,337 of whom 5.4 million are Jews, 1.48 million are Arabs, and 318,000 are non-Arab citizens. More than 3.8 million of Israel's population was born in the country with the largest source of origin in Europe and America.
- The Central Bureau of Statistics is optimistic that Israel's economy will grow by 4.5% in 2008 based on data for the first 6-8 months of the year, and is higher than the 4.2% rate forecast by the Bank of Israel and Finance Ministry. They expect the business sector to grow at a rate of 5.1% while exports are set to grow by 5.8%.
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| Events |
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Our Board of Directors Invite you to a
New Member Reception
(For members who joined after June 2007)
Thursday, November 6, 2008
6:00 PM
600 West Peachtree Street, Suite 300
Atlanta, GA 30308
For directions, click here
We are grateful for your membership in our organization, and want to express our appreciation by asking you to meet our leadership and enjoy networking with them and your fellow new members. The event is hosted and sponsored by Sunrise Bank of Atlanta.
RSVP by November 3rd aiccse@aiccse.org or (404) 843-9426
Business Mission to Israel
December 13-18, 2008
Even in these uncertain times, the Israeli economy is strong, the technologies are extraordinary, and their companies are looking for business relationships with the United States. This
Mission is designed for participants to explore these opportunities for themselves, their companies and professional firms.
Don't miss this unique venue to promote mutually beneficial economic development and build business relationships!
- Globes Business Conference in Tel Aviv including B2B track with top Israeli business leaders and industry sector sessions.
- Focus on the Chamber’s priority areas including Real Estate, Medical, Cleantech, Security, Software, and Telecommunications.
- Recruitment event for the US-Israel TeleHealth Business Exchange.
- One-on-one meetings with companies to pursue business and professional interests
- Visit to Yokneam-Megiddo,
Atlanta's Partnership 2000 community.
- Special visit to
Haifa to meet with key governmental and business leaders
- Meeting with leaders of Israel’s Venture Capital community.
Non-stop flights from
Atlanta to Tel Aviv, participants to make own flight arrangements.
Transfers to and from
Ben-Gurion
Airport
Most transportation, meals, and conference registrations included
6 nights at top hotels in Tel Aviv and
Haifa
For details, contact Tom Glaser at tom@aiccse.org or (404) 843-9426
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| Membership |
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AICC Welcomes New Members! |
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AICC Thanks Members for Renewing! |
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Tino J. Mantella - Technology Association of Georgia
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James J. Maran - Gwinnett Chamber of Commerce
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| Other |
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AICC copyright 2006 |
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