MSCI (Morgan Stanley Capital International/Barra) will reclassify the MSCI Israel Index to Developed Markets: MSCI  announced its final conclusions as well as the list of countries under review as part of the Annual Market Classification Review, as follows: 1) Israel: MSCI will reclassify the MSCI Israel Index to Developed Markets coinciding with the May 2010 Semi-Annual Index Review. The relatively short settlement cycle for equities on the Tel Aviv Stock Exchange was the only concern that was raised by international institutional investors during the consultation. MSCI recognizes that this concern is an important one but considers that it should not be an impediment to the reclassification of the Israeli market to Developed Markets status. MSCI continues to encourage the Israeli regulator and the Tel Aviv Stock Exchange to address the issues raised by investors who would prefer a better alignment with international practices. The MSCI Israel Index will be included in the MSCI World Index and in the MSCI EAFE Index. Only securities of companies domiciled in Israel that have a listing on the Tel-Aviv Stock exchange will be eligible at that point.

"BIRD Energy" Request for U.S.-Israel Joint Renewable Energy Proposals: The U.S. Department of Energy, the Israeli Minsitry of National Infrastructures and the BIRD Foundation have established a new program for joint renewable energy developments. Click here for details.

Israel's Balance of Payments Surprises With A Surplus:  USD 2.7 Billion (up from USD 0.8 billion in Q4 2008). Click for chart.

Israel to Introduce Green Tax Program: The Israeli government has announced a new program to introduce a new taxation policy on vehicles, in a bid to encourage the purchase of cars with lower emissions. The system will rank cars according to their pollution rates. The base tax rate for non-hybrid, nonelectric cars will increase from 72 percent today to 92 percent. A series of tax rebates will reduce that base depending on the car's pollution rating. Hybrid cars will be taxed at 30 percent, and electric cars will be taxed at 10 percent. The pollution rating will be calculated based on the car's emissions of five basic types including nitric oxides and carbon dioxide. Other factors that affect the rating will include the size of the engine, the type of gear system (automatic transmissions are less efficient than manual ones) and devices installed to reduce emissions.

Nasdaq Israel Index - (Click)
 

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Information Technology Chairs Announced, Life Sciences, Annual Challenge

Leonard Ferber (left), Partner and Co-Chair of the Katten Muchin Rosenman LLP Technology Practice, and Jan Hertzberg (right), Principal, Business Advisory Services IT - Chicago at Grant Thornton LLP, have teamed up to establish an Information Technology Practice Group within the AICC.

The group will develop industry-specific activities and drive membership in the IT space.

David Gulley, Ph.D. joins Michael Rosen as Co-Chairman of AICC's Life Sciences Practice Group (LSPG).

David has participated in numerous AICC missions over the years and serves as the Assistant Vice Chancellor for Research at the University of Illinois at Chicago.

Howard I. Bernstein, Principal, J.H. Chapman Group, L.L.C. (and Buy Israel Goods fame) has stepped forward to lead an Annual Challenge Campaign for the AICC and the America-Israel Economic Forum.

The campaign will generate supprt in addition to AICC's Annual Awards Celebration, membership dues and corporate sponsorship.

Renew Your Membership Today!  As we help our members during this economic downturn, we need your membership dues to maintain our programs and build our ability to facilitate opportunities for you. If you have not yet renewed your membership and you have been billed, don't wait for the next invoice or for us to call, send in your payment today! If you joined late in the previous year, consider renewing early.  Your consideration would be very much appreciated.

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Request for Member Biographies - Tell us who you are so we can tell your fellow members in an upcoming member profile announcement! We are fortunate that a new group of young and established business and professional people are looking to AICC as an outlet to explore their interest in Israel-related business issues as well as a network to grow their professional and mentor networks. With this in mind... Click here for complete story.

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