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THE ECONOMY
The employment situation in Israel has taken a turn for the better: According to the national employment index conducted by an Israeli organization together with D & B (Dunn and Bradstreet), there has been a rise in employment in Israel for the first time in half a year. The index, compiled through a survey among industrial companies, points to an increase in exports as the reason for the improvement in the employment statistics. Another survey, carried out by Manpower Ltd., shows that in August, the demand for high-tech personnel rose by 2.7% compared with July - after a drop of 6.6% in July. In August, the demand for hardware engineers rose by 5.9%, and for software engineers by 3.9%.
The Israeli company GS3 (the Ganden Group) won a tender to train 11,000 air stewards with the large American airlines company Northwest Airlines in all aspects of flight security. The Israeli company was chosen from more than 50 security companies from different countries after a long selection process. Since it was established, in January 2002, GS3 has reportedly provided security services solutions for three airports in the US. The company also won a contract to plan the security for a large American energy company.
The Israeli company Gilat Satellite Networks has signed a deal to provide the American GTECH Corporation with 7,500 units of Gilat's Skystar Advantage broadband satellite communications equipment (VSAT equipment). Gtech specializes in providing programs and services that are used, by lotteries and among other clients throughout the US.
The Israeli company NDS has signed an agreement for technological collaboration with the South Korean company Samsung. NDS will integrate its VideoGuard security and conditional access software into Samsung's new digital converters (SMT -F240). The two companies are already collaborating on various projects, including one for the Japanese company Softbank Broadmedia.
The Israeli optical networking company Lightscape Networks won a contract with JEA, the eighth largest municipal utilities company in the United States. Lightscape will supply JEA with XDM, the optical networking platform it developed, for the American company's Florida-based communications network. In northeast Florida alone, JEA supplies electricity and water to 650,000 families.
The Israeli company Israelom has concluded a $24 million deal to acquire leasing rights in an office project in Montreal. The contract will remain in effect until 2034. Israelom deals in purchasing real estate, renting buildings, and construction for residential and commercial purposes. The company disclosed that its newly acquired property in Montreal yields an annual income of $2.5 million.
The International credit rating agency Standard and Poor's announced this week that it had lowered the credit ratings of the three largest banks in Israel - Bank Hapoalim, Bank Leumi, and Israel Discount Bank. The agency explained that it had lowered the banks' ratings by one grade due to the economic, political, and security and situation in Israel. The downgrade is likely to lead to higher banking fees and credit rates to Israeli customers. The banking sector estimates that it is also a signal that the agency is planning to soon reduce Israel's sovereign credit rating. Such a move would lead to higher costs to Israeli banks when raising funds as well as a raise in credit fees in Israel.
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