Roberto Abraham Scaruffi

		Israel's Week in Business & Technology for week ended March 30 The week's top stories Contents Fischer: Middle class living standards rising Bank of Israel revises growth forecast upwards 25 Microsoft top execs to visit Israel Israel Chemicals signs $260m Chinese potash deal Energy minister: Jordan, Palestinians are gas export priority Israel, EU sign open skies agreement Hapoalim reclaims top bank spot Bombardier furious over broken railways agreement Teva extends generic AstraZeneca schizophrenia drug launch to US NDS hacking allegations go global Start-ups and VC Information technology Healthcare Energy Chemicals and plastics Defense and aerospace Telecom and media Real estate Food Transport and infrastructure Tourism & aviation Automotive Financial services Legal Capital markets Company results Economy Features and analysis Start-ups and VC Mobile web co DudaMobile raises $6m The company will use the proceeds, raised from Pitango Venture Capital, to expand its R&D and marketing. Mobile ad co StartApp raises $4.3m Telefonica to set up start up incubator in Israel Information technology 25 Microsoft top execs to visit Israel Microsoft Research chief research officer Richard Rashid will lead the delegation to Israel in April. Iway Mobile to launch pilot with China Unicom Conduit to launch branded lock screens Website builder Wix launches mobile device version Healthcare Teva extends generic AstraZeneca schizophrenia drug launch to US The brand product has annual sales of $4.6 billion in the US. FDA approves Teva's QNASL nasal aerosol Syneron invests $1m in biopolymer co Juvenis Micromedic buys 33% of tumor biomarker co BioMarCare for $1m Top US life sciences execs in Israel OptiCul to develop bacteria detection device for FDA Energy Energy minister: Jordan, Palestinians are gas export priority Uzi Landau: The use of Israeli natural gas by our neighbors will create confidence and foster peace in the region Myra drilling deadline extended to June Isramco raises Tamar gas estimates Chemicals and plastics Israel Chemicals signs $260m Chinese potash deal Israel Chemicals will sell 550,000 tons of potash in the second quarter of 2012 with an option for additional deliveries of 120,000 tons. Defense and aerospace IAI Elta wins $106m in new foreign orders The company received orders for its 3D fire control radars, satcom network system, AD-STAR radar systems and its tactical short range air defense radar. IAI unveils new airborne, ground, and naval systems Telecom and media 015 Hallo demands Pelephone keep agreement Pelephone unilaterally cancelled the MVNO agreement, after Hallo unveiled a NIS 99 monthly package for unlimited calls. Facebook steps up ad sales effort in Israel Real estate 900 apartments to be built in south Jerusalem The apartments will be built in the Malha and Massuah neighborhoods. Jaffa land prices double in four years Food Tnuva workers sanctions leave empty dairy shelves Retailers are already reporting shortages of basic Tnuva products, including milk, white cheese, and Eshel and Gil yogurts. Kraft, Nestlé nibble Strauss chocolate share - report Transport and infrastructure Rail strike averted Israel Railways and its workers committee have reached agreement on outsourcing maintenance. Suspended and dismissed workers will be reinstated. Bombardier furious over broken railways agreement Tourism & aviation Israel, EU sign open skies agreement The agreement will come into effect gradually until the summer of 2017, when there will be unrestricted air travel between Israel and the EU. easyJet adds two weekly flights between Tel Aviv and London Automotive Better Place losses reach $360m The electric car infrastructure venture is still in the development stage, and does not yet generate revenue. Ferrari, Maserati showroom opens in Tel Aviv Financial services Galia Maor: Banks not fleecing the public The outgoing Bank Leumi CEO rejects claims that households subsidize interest rates paid by businesses. BoI eases identification rules for "closed system" deposits First Int'l Bank appoints Rony Hizkiyahu as chairman Legal NDS hacking allegations go global After BBC claims that NDS hacked a Rupert Murdoch UK rival, an Australian newspaper says pay-TV rivals were hacked there too. Ben Dov: Bar Refaeli caused me irreversible harm Capital markets Melisron given Antitrust Authority nod for British Israel takeover Melisron will sell four malls, but will keep the Grand Canyon Mall in Haifa. Securities Authority seeks clarifications on Leumi profit warning Avner, Delek Drilling mull merger, o'seas offering Exalenz to raise NIS 25m from foreign fund Jaglom the big winner from planned Objet Nasdaq IPO Company results Hapoalim reclaims top bank spot The NIS 2.75b profit for 2011 was the highest among Israel's banks. Galia Maor parts from Leumi on NIS 1.9b profit Discount Bank profit higher on lower revenue Mizrahi Tefahot breaks billion shekel profit barrier First Int'l Bank reports flat profit Zim drags Israel Corp to Q4 loss Israel Chemicals reports $370m fourth quarter profit Turkish deal cancellation hits IAI's Q4 Migdal profit plummets Africa-Israel reports lower profit on higher revenue Shikun U'Binui results indicate slowdown in home sales Paz profit plummets 72% Oil Refineries disappoints with $87m 2011 loss Social protest cuts Tnuva's 2011 net profit 90% Osem posts NIS 341m profit, despite "absorbing rising costs" Consumer protest hits Strauss profit Gazit-Globe to distribute NIS 65.9m dividend Meitav profit down 44% on eve of DS Apex merger Ma'ariv narrows loss but revenue recedes Economy Bank of Israel revises growth forecast upwards The Bank of Israel expects GDP growth in the Israeli economy to reach 3.1% in 2012 and 3.5% in 2013. Fischer: Middle class living standards rising Real estate market cooling says BoI report Housing demand down 7% in February Average home price falls 8% Bank of Israel keeps interest rate unchanged Steinitz freezes IEC bailout due to labor sanctions Treasury prevails on budget transparency IEC workers: Gov't making us scapegoats Features and analysis Hard bargaining brings railways reform For all her faults, Gila Edri waged a battle of principle, and she should be praised for these principles. Are our top executives worth it? The country's 20 highest earners together raked in NIS 250 million in 2011. Netanyahu tightens grip on public broadcasting The new Israel Broadcasting Authority council, which oversees its operations, will be appointed by the government. Why did Caesarstone's Nasdaq IPO fall short? The US capital market does not like companies whose shareholders retain over 50% of equity. How ClickSoftware and EZchip did it In the market's best quarter for years, two stocks I hold outstripped the Nasdaq index by far. 140,500 empty apartments in Israel The government intends to double the arnona (municipal tax) on apartments that stand empty for more than six months. "It's not worth being on the Tel Aviv Stock Exchange" Robert Taub, who sold Omrix Biopharmaceuticals to Johnson & Johnson, is disappointed in Israel - but his new company maintains a branch in Ramat Gan. MKs gravitate to the center "Globes" finds that most Knesset members live in wealthy communities in the center of the country. High Court of Justice restores power to its owners At stake in the Migron affair were not just property rights but, as the settlers ask, who rules the country? Charity begins at work Companies like to be seen to be acting nobly, but they should start by not exploiting employees and customers, argues Yuval Albashan.