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More synchronized action needed to tackle COVID crisis: IMF’s Georgieva By Reuters

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© Reuters. FILE PHOTO: IMF and World Bank hold Annual Meetings in Washington

LONDON (Reuters) – The international community needs to do more to tackle the economic fallout of the COVID-19 crisis, the head of the International Monetary Fund said on Monday.

“We are going to continue to push to do even more,” IMF Managing Director Kristalina Georgieva said during an online FT Africa summit.

“I would beg for also more grants for African countries. The World Bank has grant giving capacity. Perhaps you can do even more… and bilateral donors can do more in that regard.”

She added the Fund was pushing to shift more of its existing Special Drawing Rights (SDR) to countries that needed support most, and was “very committed” to finding “a way forward” for countries like Zambia now needing to restructure their debts.

She seemed reluctant, however, to use gold reserves, and suggested that a larger allocation of SDR was not on the cards for now.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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Economy

Israeli cyber intelligence co Cellebrite signs deal in UAE

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Israeli cyber company Cellebrite signed a deal in Abu Dhabi at the beginning of this month, “Globes” has learned. The deal is estimated to be worth $3 million, and was apparently signed with a government agency in Abu Dhabi.

The tools developed by Cellebrite are used by law enforcement agencies and military and intelligence agencies to obtain data and identify dangerous activity. They are also used by some of the world’s largest business corporations, such as Apple, Google, Verizon and major banks, for the purposes of (legal) internal investigations.




A source familiar with the details said that the deal was brokered by former Mossad executive David Meidan, who was formerly Prime Minister Benjamin Netanyahu’s envoy for captured and missing soldiers and who negotiated the release of Gilad Shalit, who was captured by Hamas. Cellebrite and David Meidan declined to comment on the report.

Cellebrite’s systems gather and analyze data from mobile telephones and personal computers, cloud computing, and even from civilian drones caught by security forces. According to its figures, in mid-2019 the company had 45% of the mobile telephone forensics market, and its managers have said in the past that its products represent the first work tool in 75% of police investigations globally.

In recent months, several petitions have been filed against Cellebrite, demanding that it should come under the supervision of the Ministry of Defense, because of claims concerning the regimes in the countries whose security agencies are customers of the company.

Published by Globes, Israel business news – en.globes.co.il – on October 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020




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Traders Brace For Flood Of Market-Moving Events In The Week Ahead By Investing.com

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By Jesse Cohen

Investing.com – Stocks on Wall Street ended mixed on Friday, with the falling slightly to end a disappointing week.

The Dow slumped 28 points, or 0.1%, to 28,335. The rose 0.3% to 3,465, while the closed 0.4% higher at 11,548.

For the week, the Dow and S&P 500 lost 0.9% and 0.5%, respectively, to snap a three-week winning streak. The Nasdaq meanwhile dropped 1.1%, posting its first weekly loss in five weeks.

Between uncertainty surrounding ongoing stimulus talks in Washington, political developments ahead of the looming November 3 election, a heavy batch of high-profile earnings reports, as well as key economic data, next week is expected to be a busy one on Wall Street.

Google-parent Alphabet (NASDAQ:) is scheduled to release its quarterly results on Monday, followed by Microsoft (NASDAQ:) on Tuesday. Apple (NASDAQ:), Amazon (NASDAQ:), and Facebook (NASDAQ:) are then all due to report their respective results on Thursday.

The coming week also marks an important one on the economic calendar, with the big day coming on Thursday, when the U.S. releases the first look at third-quarter gross domestic product.

After the second quarter’s shocking 31.4% decline following coronavirus shutdowns, the economy is expected have bounced back, with growth of expected in the third quarter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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FIMI sells 33% of medical equipment co Simplivia

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Private equity firm FIMI Opportunity Funds, headed by Ishay Davidi, has sold 33% of the shares in healthcare company Simplivia to The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) and Leumi Partners, in equal shares, for $47 million, at a company valuation of $140 million.

FIMI bought the business from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and set up Simplivia in 2019 at an investment of $47.5 million. Including the current deal, FIMI has made a return of $67 million on its investment. It will continue to hold 65% of the company.




Simplivia produces equipment that protects hospital medical staff from exposure to dangerous materials while treating oncology patients. Its production facility is in Kiryat Shemona and its head office is in Hod Hasharon. It employs about 200 people.

Published by Globes, Israel business news – en.globes.co.il – on October 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020




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