Shekel Facelift Announced

Hewlett Packard announced it will collaborate with 300-400 select Israeli high-tech startups in the creation of a new International Technology District.

VersaMed Corporation, an Israeli maker of portable critical care ventilators, has been acquired by GE Healthcare Israel, a unit of the General Electric Company, for an undisclosed sum.

Moody's Investor Service has upgraded both Israel's foreign and local currency bond ratings, as well the foreign currency ceiling for bank deposits from A2 to A1 respectively, citing the country's resiliency to political and economic shocks.

A recent Economist Intelligence Unit survey ranks Israel in 22nd place in business climate outlook for the next five years (2008-2012). This is up from 25th position in the 2003-2007 study.

There are more personal computers-per-capita in Israel than in any other country, says the World Economic Forum. According to a new WEF report, there are seven PCs per every 100 people in Israel.

GE has completed its acquisition of Versamed, a producer of portable life-support ventilators.

Teva Pharmaceutical Industries is acquiring New Hampshire-based Bentley Pharmaceuticals.

Israel will introduce a new 500 shekel bill and update the look of other bills with new images.

MTV has launched www.mtv.co.il a Hebrew web site containing thousands of music clips from Israel, the U.S. and around the world.

Yarom Ariav, Director General of Israel’s Ministry of Finance, met with an advisory board comprised of investors and business executives in New York City to explore strategies to expedite Israel’s full integration into global capital markets and establish Israel as a center for financial services.