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THE ECONOMY
According to insider information, Steinmetz and the group will evidently succeed in arranging loans of up to 80% of the deal from British banks.
Large US public investment bank begins operations in Israel US Secretary of Commerce Don Evans told Israel's Minister of Infrastructure Yossi Partizky that American energy and infrastructure companies are interested in investing in Israel. Adams will visit Israel in the near future, at the head of a mission of American businessmen in the fields of energy and oil. The mission will explore possibilities of investing in electricity, gas, and oil in Israel. The US asset management company, Strong Capital Management has launched operations in Israel, and is offering asset management services to local institutional investors. The bank, which manages investments of $40 billion throughout the world, specializes in stock and institutional debenture portfolio management in American and other stock exchanges. The Strong Capital Management company will be represented by the Israeli Center for Institutional Investments (ICII), which will market the company's services to institutional investors -- insurance companies, retirement and pensions funds, and other large companies. "Israel's institutional market offers interesting opportunities for us," says the CEO of the bank, Laurence B. Zunz.
The large American medical equipment company Boston Scientific signed a multi-million dollar marketing, investment, and development agreement with the Israeli start up company Mediguide The Israeli company has developed an intravenous 3-D navigational system technology called MPS (medical positioning systems) that enables 3-D navigation within the body. This technology makes it possible for doctors to precisely insert catheters and surgical equipment into the body. The medical staff is able to obtain a 3-D image, with no need for a transparency, in the midst of the medical procedures, and to perform medical activities practically without invasive procedures. The two companies will jointly develop a product that based on Mediguide's MPS technologies and a Boston Scientific product that enables 2-D ultrasound exploration of the vascular system. Mediguide product are based on navigational technologies used for military purposes developed by the Israeli company Elbit, from which Mediguide split in 2002.
Gilat won a contract to provide a satellite station network to the Russian company RSCC, which operates satellite communications services in Russia. The Russian company plans to operate the satellite stations for several purposes: to transfer broadband data communications, to supply communications services to Russia's central bank, and primarily, to serve Russian's gambling network, called Jackpot. According to the contract, the Gilat will supply RSCC with up to 10,0000 satellite stations, to be installed also in former Soviet republics adjacent to Russia.
The Israeli company Technomatix, which develops production-planning software for the automotive industry, has signed a contract to supply the Italian automobile manufacturer Fiat with software that will enable identification of critical data during the assembly process. The two companies have been collaborating for several years. It is estimated that the new contract will reach close to one million dollars.
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