A major Chinese conglomerate plans to open a technology incubator in the Jewish state. Fosun International Chairman Guo Guangchang shared his plans with Benjamin Netanyahu during the Israeli prime minister’s visit to China last month. “The Fosun Group chairman updated the Prime Minister on the establishment of a venture capital fund in Israel to locate investments for the group in Israeli start-ups,” the Prime Minister’s Office said in a statement. “The group intends to increase …More

Amazon came under fire this week for the sale of baby bibs that touted religious stereotypes about Jews. A pair of bibs--one embroidered with the words “Future Lawyer,” the other with “Future Doctor”—were also decorated with coin and hundred dollar bill motifs, and advertised as “Jewish baby bibs.” Users complained that the products violated Amazon’s company policy, which prohibits the sale of items that “glorify hatred, violence, racial, sexual or religious …More

Solar energy firm Suntech is set to build two massive projects for construction company Shikun Binui, in what is being touted as one of the largest deals of its kind in recent history. Suntech will build two separate photovoltaic fields—fields that convert solar radiation into direct current electricity—for the construction firm. A five-megawatt field will be installed at Kibbutz Sde Boker, and a six-megawatt field will be installed at Kibbutz Hatzerim in the Negev. Enerpoint Israel will take care …More

Israel is the world leader is drone sales, according to insiders. The Jewish state reportedly sells $400 million in drones annually, and has sold a total of $4.6 billion worth in the last eight years. The data was published in a report by leading business consulting firm Frost & Sullivan, which also found unmanned drones account for 10 percent of the Israeli military's export. In 2008, Israel’s drone exports totaled $150 million, a sum that increased to $650 million for the 2009 year. In 2010, Israel …More

EBay is setting up a start up incubator in Israel, to encourage entrepreneurship and innovation. The center will be located at Israel’s eBay headquarters in Netanya, and will focus on ecommerce, social networks and big data start ups. “We want to work with the Israeli startup community in a more organized and orderly fashion,” said eBay Senior Director Amit Menipaz, also a former head of eBay’s Israel branch. “In general terms, I can say that we want startups that deal with …More

Google has decided Palestine is a nation state. The declaration was made by the Internet search engine Wednesday, as Google changed its Palestinian edition from “Palestinian territories” to “Palestine.” Google hosts a unique platform for each country it serves. "We're changing the name 'Palestinian Territories' to 'Palestine' across our products. We consult a number of sources and authorities when naming countries,” Google spokesman Nathan Tyler said. "In this case, we are …More

Warren Buffett is set to purchase the remaining stake in Israeli firm Iscar, a company the billionaire mogul already owns 80 percent of. Buffett’s Berkshire Hathaway investment firm purchased four-fifths of Iscar, which produces cutting tools, for $4 billion in 2006. It was Buffett’s first acquisition in the Jewish state. Now, the US investor is claiming the final piece, purchasing the remaining 20 percent share from the Wertheimer family for a reported $2 billion. Iscar now has a valuation of $10 …More

An Israeli smart water company has been named one of Bloomberg’s New Energy Pioneers for 2013. Israel-based Whitewater provides utility and industrial companies an efficient way of managing and monitoring water quality. The company received the Bloomberg recognition last week at a New York ceremony, along with eight other innovators. The Bloomberg New Energy Finance Summit was the sixth annual gathering of its kind, aimed at honoring “game-changing companies in the field of clean energy technology …More

Woodside Petroleum’s purchase of a controlling stake in Israel’s largest natural gas field is causing trouble for Woodside’s Arab-allied partial owner—the Shell gas company. Royal Dutch Shell, Shell Gas & Power’s masthead, owns a 23 percent interest in Woodside, which declared its intentions late last year to purchase a 30 percent stake in Leviathan, the innovative Israeli gas field the Jewish state hopes to use on the path toward energy self-sufficiency. Shell, on the other …More

Israel’s largest producers of root vegetables put out more than 200,000 tons of product in 2012, a recent activity report stated. Yaham cultivates massive amounts of root vegetables for the Jewish state, like onions and potatoes. While Israelis enjoy a large portion of that effort, the produce is also exported around the world, adding necessary commerce to Israel’s economy. "We produce and market root vegetables from 14 communities at western Negev,” said Dror Tanuri, CEO of Yaham. “Our …More

An Israeli startup is set to make $75 million in US initial public offerings (IPO), marking the fourth new company to make strides in the American public sector this year alone. Wix is a Web site creation platform that is expected to value at $500 million once it hits Wall Street, according to insiders. JP Morgan is predicted to be a substantial early investor. Wix was created by Giora Kaplan and the brother duo Nadav and Avishai Abrahami. With offices in Tel Aviv, New York and San Francisco as well as 25 …More

The ability to capture prized moments on film is a gratifying, and often taken for granted, ability. That ability can be arguably traced to Edwin Herbert Land, a Jewish American inventor who brought photography bliss to millions with his creation of the Polaroid Corporation. Land was born in Connecticut in 1909 to Ukrainian Jewish parents. He later studied chemistry at Harvard, but left school to pursue entrepreneurial ambitions in New York City. Once in the city, he invented the first inexpensive filters able …More