Economy
Many international technology companies have research and development facilities in this region including the likes of Intel, IBM, Google, Hewlett-Packard, Philips, Cisco Systems, Oracle Corporation, SAP, BMC Software, Microsoft, Motorola and CA. Many Israeli high-tech companies are based in the region, including Zoran Corporation, CEVA, Inc., Aladdin Knowledge Systems, NICE Systems, Horizon Semiconductors, RAD Data Communications, Radware, Tadiran Telecom, Radvision, Check Point Software Technologies, Amdocs, Babylon Ltd., Elbit, Israel Aerospace Industries and the solar thermal equipment designer and manufacturer Solel, with most of them being listed on the NASDAQ, which even has an Israel Index. Because of this, Israel is often referred to as the Silicon Wadi and is known to be second only to Silicon Valley in the level of its innovation and ingenuity. Intel developed its new dual-core Core Duo processor at its Israel Development Center located at the Merkaz Ta'asiya ve'Meida (Matam - Scientific Industries Center) in the city of Haifa. In 2006, more than 3,000 start-ups were created in Israel, a number that is only second to the US. Newsweek Magazine has also named Tel Aviv as one of the world's top ten "Hot High-Tech Cities". In 1998, Tel Aviv was named by Newsweek as one of the ten technologically most influential cities in the world. In 2012, the city was also named one of the best places for high-tech startup companies, placed only second behind it's California counterpart.
Read more about this topic: Silicon Wadi
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)