Today is a sad day for all Israeli citizens. It’s a day that the whole country stops to pay tribute and honor the memory of fallen Israeli soldiers. No other country in the world shows the respect to war dead that Israel does. The day is accompanied by 2 sirens, one at night and one in the morning, where every citizen stops and stands in complete silence to honor those that fell fighting for Israel’s very survival.

According to Globes: “The 133 members of the security forces who fell in the past year brought the total number of fallen in Israel’s wars to 22,570 members of the security forces, including the IDF, Israel Police, Border Police, Israel Prison Service, Israel Security Agency, the Mossad, and the Jewish Brigade of World War II.”

May their memories be blessed, and their families no of no more sorrow.

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While many are forcing Israel to accept a 2 state- solution with the Palestinians with little regard to Israeli security concerns, news is out today that the peace loving men of Hizbullah planned 3 simultaneous terror attacks against Israeli tourists.

According to ynet: “Hizbullah planned three simultaneous terror attacks against Israeli and Egyptian targets in three different tourist spots in Sinai, head of a Hizbullah cell in Egypt Sami Shihab told police in his investigation.

Parts of Shihab’s investigation were published in Egyptian daily al-Ahram on Tuesday, and according to the report, the organization planned to publish an announcement after the attacks claiming responsibility for them.

According to the report, Shihab gave “earth-shattering confessions” during his investigation. Shihab reportedly admitted that the organization’s goal was to carry out attacks in Egypt, and not to aid Hamas in Gaza, as Hizbullah Secretary-General Hassan Nasrallah had claimed.

Shihab said he was ordered by the Hizbullah headquarters to carry out terror attacks on Egyptian soil and to target Israeli tourists and foreigners. Shihab said the cell was tasked with carrying out the attacks using suicide bombs, car bombs, and planting explosives among Israelis staying in Sinai, and in Dahab, Taba and Nuweiba in particular.”

But there is no ‘war on terror’–isn’t that right Prez. Obama?

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While many have criticized the pick of Avigdor Lieberman as foreign minister, it may turn out to be a very wise move. Why? Because Lieberman can help solidify Israeli relations with the wannabe superpower. It now appears that Israel aerospace industries will sell unmanned drones to the Russians.

According to Globes:”Foreign media sources report that Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) will sell unmanned aerial vehicles (UAV) to Russia for $50 million, after the Russian Parliament approved the deal.The deal is important on two levels. First, it tightens Israel’s security relations with Russia, and lessens the chance that Russia will sell its S-300 surface-to-air missiles (SAM) to Iran or Syria. Iran wants these missiles very much. Both Iran and Syria also want to collaborate with Russia on arms systems. Second, the deal opens a new and potentially lucrative market for Israel’s defense industry.”

With the Obama administration tightening the noose on Israel, it is very wise for israel to try and diversify and not rely on US support only.

Lieberman’s pick looks more and more like a very wse decision.

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Even though Israeli defense exports are expected to fall by 10% for ‘08, Israel still ranks in the top 10 of global defense exporters. Depending on which list you go by Israel is either in 4th or 8th place. Not bad for a small little country.

According to an article in Globes: ”

According to figures released by the US Congressional Research Service, Israel was the seventh largest arms exporter during the period 2000-2007 with sales worth an aggregate $10.8 billion. The US topped the rankings with an aggregate $123 billion in sales, followed by Russia with $62.2 billion, France - $29.2 billion, the UK - $25.2 billion, Germany - $12.6 billion, and China - $10.8 billion. In eighth place behind Israel, came Italy with $6.5 billion, followed by Spain with $6.5 billion, and Ukraine with $5.5 billion.

However, Ministry of Defense figures estimate Israel’s total exports in 2000-2007 nearer to $29.7 billion, a figure which places Israel in fourth place behind Russia, France and the US.”

Only about 1/7 of Israeli defense sales are made in Israel, meaning that the country continues to gain market share around the world. In an Obama administration where everyone believes defense budgets are going to get cut, Israel may very well benefit as the country focuses on producing very smart technologies and technologies that are aimed at fighting terror, two sectors that should still have strong demand.

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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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