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(Bloomberg) The Israeli economy is growing at triple the pace of the average of the 34 advanced economies. The country, whose population of 7.8 million is similar to Switzerland's, has about 60 companies traded on the Nasdaq Stock Market, the most of any nation outside North America after China, and is also home to the largest number of startup companies per capita in the world. Israel ranks third in terms of projected growth this year among 24 developed economies, after Hong Kong and Singapore. "Israel's exports are high-added-value exports like informatics and technology," said Jean-Dominique Butikofer, a fund manager at Union Bancaire Privee in Zurich. "If there's a slowdown, these are the kind of assets that are good to have." Venture-capital-backed Israeli technology companies raised $364 million in the second quarter of this year, a 77% jump from the $206 million raised in the year-earlier period. 2011-09-23 00:00:00Full Article
Israel Punches Above Weight as GDP Beats Developed World
(Bloomberg) The Israeli economy is growing at triple the pace of the average of the 34 advanced economies. The country, whose population of 7.8 million is similar to Switzerland's, has about 60 companies traded on the Nasdaq Stock Market, the most of any nation outside North America after China, and is also home to the largest number of startup companies per capita in the world. Israel ranks third in terms of projected growth this year among 24 developed economies, after Hong Kong and Singapore. "Israel's exports are high-added-value exports like informatics and technology," said Jean-Dominique Butikofer, a fund manager at Union Bancaire Privee in Zurich. "If there's a slowdown, these are the kind of assets that are good to have." Venture-capital-backed Israeli technology companies raised $364 million in the second quarter of this year, a 77% jump from the $206 million raised in the year-earlier period. 2011-09-23 00:00:00Full Article
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