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Israel's Week in Business & Technology

for week ended June 27

Israeli product demo platform Demostack raises $34m

The company's technology enables sales teams to design demos for their products.

Dr. Doron Myersdorf Credit: Yonatan Bloom Volvo invests in fast-charge EV battery co StoreDot

The investment is part of StoreDot's Series D investment round of up to $80 million.

Israeli carriers selling 5G, but not developing network

With the cloud computing giants breathing down their necks, Israel's mobile carriers are liable to be left behind.

Omer Adam  credit: Shai Franco Omer Adam consortium plans third server farm

After announcing the construction of two server farms in Afula last year, the PAI, Europe-Israel, LIAN Group consortium has bought land for a third farm at Zora Park.

Boris Johnson Credit: Shutterstock UAE put NSO spyware on official's phone in Boris Johnson's office - report

The spyware breached the phone of an official in the office of UK Prime Minister Boris Johnson in 10 Downing Street, Citizens Lab at the University of Toronto reports.

Dell  credit: Shutterstock, Gabriel Pahontu Israel's Emza providing visual sensing tech for new Dell laptops

Emza’s algorithms detect user engagement levels, contributing to better display power management and maximizing battery life.

Teva  credit: Shutterstock FDA delays approval for Teva schizophrenia drug

Teva and its French partner MedinCell have received a Complete Response Letter, meaning that the New Drug Application cannot be approved in its present form.

Cultivated meat Credit: Shutterstock Innovation Authority sets up cultivated meat consortium

Together with Israel's business sector and academia, NIS 66 million will be invested in the consortium over three years, half of the sum by the government.

Trial run of Red Line train in Petah Tikva  credit: Eyal Izhar Do prices along the Red Line have further to rise?

Transport experts say Petah Tikva and Bat Yam, at the two ends of NTA's first light rail route, will see the greatest impact, but it all depends on suitable urban planning.

Israeli apartments Photo: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel including in Jerusalem, Ramat Gan, Hod Hasharon, Beer Yaakov, Ashdod, Ashkelon and Sderot.

Electricity pylons  credit: Shutterstock IEC to install one million smart meters

The new meters will enable private suppliers to compete in power distribution and offer variable tariffs.

F-35 Credit: Lockheed Martin Israel ranked as world's eighth largest nuclear power

According to a report published by the American Federation of Scientists, Israel has 90 nuclear warheads.

Moshe Bareket  credit: PR New draft rules give savers choice on pension fund fees

Pension funds will be allowed to charge direct expenses only on certain kinds of investment.

David Fattal Photo: PR Fattal raises €315m to buy 30 European hotels

Fattal CFO Shahar Aka: The Covid crisis has created an opportunity in Europe to buy hotel assets at attractive prices.

Eido and Yitzhak Hagag credit: Shay Tamir Hagag Group completes Bazan purchase from Israel Corp

Hagag Group has bought 16.7% of Haifa oil refinery company Bazan from Israel Corporation, controlled by Idan Ofer, for NIS 555 million.

Shekels Credit: Shutterstock Vladerina32 Five reasons why the shekel is weakening

Mizrahi-Tefahot Bank chief economist Ronen Menachem explains the factors causing the shekel to weaken and says he expects the depreciation to continue.

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