“Intel Corp said on Tuesday it had submitted plans to expand its production operations in Israel, with the government saying the U.S. chipmaker would invest about $5 billion,” Ari Rabinovitch reports for Reuters.
“Intel is one of the biggest employers and exporters in Israel, where many of its new technologies are developed,” Rabinovitch reports. “The new investment will upgrade its Kiryat Gat manufacturing plant in southern Israel, the company said in a statement.”
“Israel’s Finance Ministry said the company would invest about 18 billion shekels ($5 billion) in the factory between 2018-2020 and had agreed to spend 3 billion shekels on local suppliers,” Rabinovitch reports. “In return, Intel will be granted an extension of its reduced tax rate of 5 percent until 2027. The Finance Ministry said it was also considering giving Intel a 700 million shekel grant, with a second grant of the same size to come with future investments.”
Read more in the full article here.
MacDailyNews Take: Congrats, Israel!
SEE ALSO:
Apple acquires Israeli facial recognition firm RealFace – February 20, 2017
Apple’s LinX acquisition: The Israeli startup that will give iPhones SLR-quality photos – April 15, 2015
Apple buys Israeli 3D/multi-image camera company LinX Computational Imaging – April 14, 2015
Apple’s focus in Israel: Chip design – February 26, 2015
Apple CEO Tim Cook meets with Israeli President Reuven Rivlin – February 25, 2015
Tim Cook meets with German Chancellor Angela Merkel – February 25, 2015
Israeli Prime Minister Netanyahu meets with Apple CEO Tim Cook in Cupertino – March 6, 2014
Apple confirms acquisition of Israel’s PrimeSense, company behind Microsoft’s Xbox Kinect, for $350 million – November 25, 2013
Apple confirms purchase of Israel-based Flash-memory part maker Anobit – January 10, 2012
Apple chooses Israel for first R&D center outside Cupertino – December 18, 2011
Apple should move away from Intel as much as it can, Intel is a company whose chips are going nowhere. The Arm Chips needs to fill in the gaps that are created by Intels demise.
The Palestinians might as well just push for a One-State Solution at this point. The Two-State dream is dead.
The two-state solution WOULD be alive and well if only the Palestinians would come to the table (they were offered 99% of the West Bank & Gaza in 2008 and turned it down because they don’t really want peace). They are constantly making conditions and excuses (to the point where the crown prince of Saudi Arabia is complaining about them!). The Palestinian people (for the most part) want peace. Their leadership- not so much
The Palestinians don’t want a two nation deal.
They want a one nation deal with no Israel.
Between cutting the UN funding for these hired Shia mercenaries, moving the Embassy to Jerusalem and working with the Sunnis in Saudi Arabia, Jordan, and getting on board with Egypt, UAE, not to mention Kuwait against the Terror King Iran hopefully a new paradigm will emerge shattering the decades old stalemate that gave the PLO more influence than they deserved.
Turn Gaza over to Egypt to earn the generous stipend we give them and allow Jordan to take more responsibility for the West Bank.
And the Golan Heights? Tell Syria tough shit, you’ll never get it back till Iran is gone, the Alawite regime is gone, and Lebanon is a free and Democratic society again. THEN Syria can ‘think’ about the Golan Heights….
I’m curious. How could the US possibly force Egypt or Jordan to accept the liability for millions of fractious foreigners?
Short answer; money.
Long answer, the Palestinians deserve better treatment than the U.N and Iran are providing. They are nothing but proxies with no future other than a slow death of attrition. Yesterday’s Kabuki Theater and the deaths of too many is a good example.
Gaza could slowly be turned into a much better place where the peoples could work, have a vacation destination for its beaches and start to become a real city for people to have a future.
The West Bank is already partly (and formally completely) part of Jordan. The biggest drawback to them is the fact Jordan already has a huge percent of Palestinians and they would need to be slowly integrated so as not to give them too much power (Jordan also has a huge number of Iraqis that fled there for safety. They need to go home and rebuild their own country now).
Both Egypt and Jordan (and of course Israel) get a large percentage of their budgets from the US. Egypt needs to step up in this process and diffuse the Gaza issue. Jordan needs to have control over the West Bank to help assimilate the people back into a true nation (but NOT a ‘Palestine’).
Neither Jordan nor Egypt want Iran’s proxy war to continue through the occupied territories. For the most part both are at peace with Israel and could work with Saudi, UAE and Kuwait to give Palestinians (mainly the young men with no futures other than hate) to work in the old fields and businesses that Jordan and Egypt can’t offer.
The Arabs need to help the Arabs find peace with Israel and quit letting the Persians be the driving force of terror. It’s been 70 years and nothing has changed. Time to move on.
Awesome posts, TT. This region is in conflict for far too long. Let’s make a deal with President Donald J. Trump …