Globes story that Google Israel is showing some legs. Sources say that Keshet Television, One, Bizportal, and Heep are among the sites that the Google AdSense team has added to the Israeli ad network. These same sources say that “in the first half of 2007, Google Israel’s revenue reached $25 million, an amount identical to its revenue for all of 2006. It is estimated that Google Israel’s revenue will reach $45-50 million by year’s end.” Globes says that the rise in income seems to be attributed to growth in new advertising campaigns outside the traditional pay-for-click, including offline and branding campaigns.

Tech guru, George Gilder, was in Israel doing some diligence on his favorite Israeli company, EZChip, a subsidiary of LanOptics (LNOP). Says Gilder about why he likes EZChip, ” It is both a network-based technology that can be scaled. You can build on it and expand it. This is important in an era of constant change, and it also solves the time problem.”

Citibank out on Israel indirectly in a new research report on the region. Citing, earnings yield rations and very low interest rates, Citibank is overweight on Israeli equities. In particular, they like TEVA (TEVA), Bank Leumi, and Bank Hapoalim.

Japanese company, Internix, announced that it will be investing between $30 and $40MM in Israeli semiconductor firms. Each investment will average around $5MM. The semiconductor distribution firm maintains offices in Silicon Valley and represents about 2000 companies in Japan, including NEC, Fujitsu, OKI, Toshiba, Panasonic, Sharp and Sanyo.

Elbit Vision Systems (EVSNF.OB) hitting up investors for a $5MM+ private round. Elbit Vision develops and produces automatic in-line optical web inspection and quality monitoring systems for improving production efficacy and product quality.

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