International Headlines and Stories

After nine sessions of declines, with a final closing last fall, and early trading down 3% Friday morning, the Cac 40 rebounds. But last month, the benchmark index of the Paris stock exchange has lost 17%. Suffice to say that it takes up 2% at 14:30 will not be enough to regain the ground lost. This change in trend, however, marks a return of enthusiasm among investors, and this improvement is welcome as the context was sluggish in recent days.

The breath of fresh air came from the United States, where the release of employment figures for the month of July has created a pleasant surprise, and somewhat allayed doubts about growth.

The United States has in fact been a net creation of 117,000 jobs during the last month.a figure that is 38% higher than that which is law in the community of analysts who had forecast 85,000 new jobs created, at best.

With these hires more dynamic than expected, the U.S. unemployment rate ebbs. 0.1 points. But, however small it is, this figure is enough to pleasantly surprise the markets that relied on a stable unemployment rate in the U.S..

Other exchanges in Europe are more timid in the rebound

Other major European financial centers reduce their losses, but with more caution. To 15 hours, the Footsie-100 from the London Stock Exchange limit its losses to 0.2% to 5338 points (-2.58% against the opening).

However, the Dax 30 of the Frankfurt Stock Exchange is down quite markedly, falling 0.83% to 6361 points (-3.85% against the beginning of the meeting). The Brussels Bel 20 was down 1.08% to 2199 points (-3.61% against the opening).

Milan and Madrid, who were moving against the tide this morning, buoyed by market rumors suggesting an intervention by the ECB, their speed increases. In Italy, the MIB FTSE gains 1.66% at 17,160 points while the Spanish Ibex rose 2.09% to 1868 points.

The trade deficit of France back in June

Other macroeconomic news: the trade deficit of France. He was greatly reduced in June to 5.598 billion euros, after 6.415 billion in May, according to data released Friday by Customs.

On the podium of the largest declines the CAC 40, Unibail-Rodamco lost 4.49% to 137.3 euros, Technip loose 2.55% to 62.95 euros and Lafarge drops 2.35% to 30.995 euros.

Natixis: 8.46% to 3.012 euros

Natixis on Thursday posted a net profit above expectations in the second quarter thanks to a sharp increase in the contribution of results from regional banks of its parent BPCE (People's Bank – Savings Bank).

Dexia: -2.9% to 1.608 euros

Dexia announced the heaviest loss in its history, a performance due to both the sale of a portfolio of toxic assets – centerpiece of its restructuring plan – and its contribution to the aid plan on sovereign debt Greek.

Carrefour: 1.21% to 18.79 euros

Carrefour announced a new reorganization of its management, including replacing its chief financial officer, when the group just straightening operations in France and suffered a major strategic setback in Brazil.

LVMH: 1.74% to 117.20 euros

LVMH said Thursday it had received approval from Consob, the Italian stock market authority, for offering Italian jeweler Bulgari on which he announced the takeover in March.

Vicat: 0.41% to 46.99 euros

Vicat said Thursday expect a slight reduction of its operating margin in 2011 due to the revolution in Egypt, rising energy costs and start-up costs of factories in India.

The group of environmental services warned on Friday: in 2011 it will not reach the objectives it set itself in terms of growth in profits. It's something confirmed on Thursday, while the specialist services in the water, waste and transport unveiled a net loss of 67.2 million euros in its first half, due to early provisions past for its plan to focus geographically, and non-recurring write-downs. Without these items, which account for 800.3 million euros, Veolia announced a net profit of 188.1 million euros, still always decline (-28%). Sales for the period rose for its 4.4% on a comparable basis to 16.28 billion euros (+15.5% at constant exchange rates).

A voluntary separation plan envisaged

As announced last week, the group led by Antoine Frérot said to have encountered difficulties in Southern Europe, North Africa and the United States, that led it to implement further restructuring and strengthen the redeployment of its activities to concentrate on "a small number of countries."

By 2013, Veolia Environnement wants to actually be present in fewer than 40 countries, against 77 at present. For example, he announced a withdrawal "significant" in some areas and trades, such as the withdrawal of transport activities in Morocco, cleanliness in Egypt, or Marine Services in the United States and southern Europe. This acceleration of focus is not without consequences on the accounts.In a statement, Veolia said that 686 million euros in writedowns were recorded under the operational difficulties encountered in Italy, the United States and Morocco. Hence the fall in operating profit recorded over one year of 1.101 billion to 252 million euros.

As part of its reorganization, the group also announced it would establish voluntary severance schemes in France, in the water sector.

Doubts about the dividend

Given these results and further steps that need to be implemented, Veolia will therefore not committed to a growth in profits for the year 2011.Not surprisingly, however, the group confirms its other annual goals, including organic growth of its business and asset sales for at least 1.3 billion euros, a positive free cash flow after payment of the dividend.

At the meeting presenting the results, Antoine Frérot explained, however, he was not able to guarantee that Veolia would maintain its dividend in 2011 at the same level as that of € 1 paydayloans.21 paid in 2011.

Other objectives, Veolia is a recurring operating income "slightly down" at constant exchange rates (excluding the consolidation of Transdev Veolia confirms that the group will introduce a stock exchange), and finally, cost savings of 250 million euros.On this last point, Veolia plans to accelerate its cost savings in the longer term, with an expected positive effect on operating profit of at least 150 million euros in 2013 and 250 to 300 million in 2015, and more of 250 million mentioned above.

The title Veolia has lost 25% of its value in five days

Despite the warning last week, and the fall of 9.5% of the title that had followed, investors have been very hard on the tooth that bad publication. After opening down sharply from 8.04% to 13.15 euros, the title was abandoned among the first on Thursday in a market panic. Veolia ends with an impressive plummeting 18.88% to 11.60 euros.

Overall, Veolia has lost a third of its value within five sessions …These results are disappointing especially since yesterday, Suez Environnement, the French rival Veolia has published interim results rather reassuring, thanks to the good performance of the water division, and finished the session at the Paris Bourse rose 0.68%, despite a plunge of more than 2% of the Cac 40.

Since Friday, the penalty did not expect that the part of analysts, with numerous recommendations degradation. Monday, Goldman Sachs withdrew Veolia from its list of preferred European values, lowering its recommendation to neutral, for a revised price target of 26 to 20.50 euros. For his part, Oddo has also lowered its recommendation from neutral to reduce to a revised target of 24 to 15 euros. CM-CIC Securities is left to buy but has revised its target price of 24.1 to 19.6 euros. BNP Paribas expects a still under-performance but reduced its target from 21 to 15 euros.Finally, HSBC rose Tuesday from overweight to neutral, slashing its target from 21 to 17 euros.

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The U.S. stock markets have moved from dark red to balance on Friday afternoon. Opening on a steep downward trend after poor economic data, the indices on Wall Street have reduced their losses after the speech of Barack Obama. Around 17:15, the Dow Jones down more than 0.25% at 12,210 points and the Standard & Poor's 500 yields 0.02% to 1300 points while the Nasdaq 100 round ahead by 0.25% to 2773 points. Thursday, Wall Street recorded a fifth straight session decline.

Barack Obama spoke Friday. He urged Republicans and Democrats to find a solution to raise the debt ceiling by 2 August, when the United States would find themselves in default if no compromise was found."We are very far from reaching an agreement, there are plenty of solutions," tried to reassure the U.S. president, stating that "any solution should be supported by both parties."

A dicours has reassured the markets but in the beginning of sessions, investissuers received three cold showers on.

The bad news on the front of the U.S. economy weighed heavily on the trend of economic growth the U.S. has slowed sharply in 2011 to 1.3% annual rate in the second quarter in a first estimate published Friday by the U.S. government.This growth rate, below analysts' expectations (1.8%), is particularly low given the significant revision of the first quarter, now estimated at 0.4% against 1.9% in June

A little later, more bad news: the U.S. consumer sentiment deteriorated more than expected in July, falling to a level not seen since March 2009, weighed down by rising unemployment and stagnating purchasing power, reveal final estimates of the survey Reuters / University of Michigan reported Friday.

In addition, economic activity in the Chicago area (northern USA) decelerated in July, according to the index released Friday by the professional association ISM, which stood at 58.8 against 61.1 in June

Moody's lowers rating outlook for Spain

Adding to the nervousness of the markets in Europe, the rating agency Moody's is considering lowering the rating of Spain. On the foreign exchange market, the euro was immediately dropped below the 1.43 dollar. Around 11:00, the European currency was worth 1.4276 dollars against 1.4324 dollars on Thursday night. Oil prices also retreated in the late morning. A barrel of Brent North Sea crude for September delivery was trading at 117.10 dollars on the Intercontinental Exchange (ICE) in London, down 26 cents from the close of Thursday.In electronic trading on the New York Mercantile Exchange, a barrel of "light sweet crude" (WTI) for the same maturity fell by 52 cents to 96.92 dollars.

The side of values

Starbucks (-1% to 39.58 dollars) unveiled for the third quarter of its fiscal year profit up 34% to 279 million and a turnover of 2.9 billion dollars, up 12% and 8 % same-store thanks to an increase in traffic (6%) and average ticket (2%). CEO Howard Schultz commented: "We hope to achieve our EPS growth of 15% to 20% in fiscal 2012. ".

For his part, Metlife (1.48% at 40 and 40 dollars) recorded operating income of $ 16.9 billion, up 33%.Premiums and other revenues increased to 11.8 38U billion, following the acquisition of Alico, while investment income jumped 24% to $ 5.1 billion.

Chesapeake Energy (3.77% to 34.69 dollars) realized in the third quarter earnings per share of 0.76 dollars against 0.75 dollars excluding special items.

Expedia (3.48% to $ 30) recorded an adjusted earnings per share of 0.55 dollars in the second quarter against 0.44 dollar a year earlier. Revenues jumped 23% to $ 1 billion. Gross bookings increased 19% and the number of transactions increased by 15% while advertising revenues rose 27%.

McKesson (0.60% to 80.08 dollars) made from earnings per share for the first quarter of 1.27 dollar against 1.16 dollar last year and a turnover of 30 billion dollars in 9% increase.The company raised its earnings per share target to 6.09 – 6.29 dollars against a previous estimate of 5.55 – 5.75 dollars.

Motorola Mobility (-5.06% to 21.75 dollars) has issued an earnings per share for the second quarter of 0.09 dollars against a loss of 0.3 dollar per share last year. Sales rose 28% to $ 3.3 billion.

Session auspicious for ArcelorMittal. Around 10:20, the title of the fastest rising Cac 40: 1.87% to 22.59 euros in a market down 0.78%. Investors welcomed the quarterly results of the world's number one steel.

Despite a 10% drop in net profit in the second quarter over one year to $ 1.5 billion, ArcelorMittal has been a further improvement in operating performance. The gross operating income has increased by 21.5% year on year to $ 3.4 billion (2.3 billion euros). Moreover, the turnover has won 24.7% to $ 25.1 billion (17.3 billion euros)."As we anticipated, the company reported a strong performance in the second quarter of 2011, driven by higher selling prices of steel," said CEO Lakshmi Mittal said in the statement.

But these indicators should weaken in the third quarter, the steel industry was experiencing a generally soft, due to plant closures for holidays in Europe and a slowdown in demand. ArcelorMittal anticipates a gross operating profit (EBITDA) of between 2.4 and 2.8 billion (1.6 to 1.9 billion euros).

However, the group expects strong demand from China and the automotive sector, which should prevent it from experiencing the same quarter in 2010."Although the third quarter should be somewhat affected by seasonal factors, they should not be as pronounced as last year and the performance of the group the second half of 2011 should be compared favorably with that the second half of 2010, "assured Lakshmi Mittal.

As seen in Europe with a market recovery, the New York Stock Exchange finished up sharply Tuesday as investors speculating on a similar agreement between Republicans and Democrats to avoid a default of the United States: the Dow Jones gained a , 63% and the Nasdaq 2.22%. The Dow Jones rose 201.32 points to 12,586.48 points and the Nasdaq, dominated by technology, from 61.22 points to 2826.52 points.

The DJ opened up, boosted by a salvo of results of large U.S. companies, mostly better than expected.The increase accelerated after a speech by President Barack Obama suggesting that discussions were progressing toward an agreement to reduce the budget deficit and an increase in the ceiling of the debt of the United States as we approach the deadline of August 2.

The euro rose against the dollar Tuesday, in exchange tinged with caution while the market showed himself optimistic about the outcome of the extraordinary summit of the Greek debt scheduled for Thursday in Brussels. Around 1800 GMT (8:00 p.m. in Paris), the single European currency was worth 1.4177 dollars against 1.4117 dollars around 2100 GMT Monday. The euro rose against the Japanese currency to 111.91 yen against 111.59 yen Monday.

The current oil futures ended up Tuesday, benefiting from a weaker dollar ahead of the summit of the euro area Thursday and hopes of solving the problem of the debt of the United States.On the New York Mercantile Exchange, crude for August delivery ended at 97.50 dollars a barrel, up $ 1.57, or 1.64%, having fluctuated between 95.93 and 98.65 dollars.

On the macroeconomic front, investors will be watching especially housing starts and building permits in the United States. Two statistics that mark once.

Values ​​to follow

The side of values, after the close of Wall Street, several major groups have announced their quarterly results.

Pleasant surprise on the side of IBM rose 8% of its profits in the second quarter to 3.66 billion. The adjusted earnings per share was 3.09 dollars against 3.02 dollars expected by analysts. Turnover was up 12% to $ 26.7 billion against $ 25.4 billion expected.Please note, sales of servers rose 17% year on year to 4.7 billion. For the full year, IBM raised its forecast for earnings per share to 13.25 dollars against 13.15 dollars earlier. The title earns 5.67% to 1885.21 dollars.

Always on the side of values, Cisco confirmed the elimination of 6,500 jobs to reduce production costs. The group is facing stiff competition, especially from China, the market for Internet routers. Price reductions are higher expectations. According to IDC, Cisco, which holds 64% market share, experienced a contraction of 16% of its sales of routers in value in the first quarter. The title earns 1.46% to 15.66 dollars.

In addition, the producer of fertilizer Mosaica announced a profit of 649.2 million dollars above expectations of analysts.Turnover was up 54% to $ 2.86 billion and also higher than expectations.Farmers' demand remains strong, particularly in wheat, and weather conditions have supported the group's sales.

For its part, the steel producer, Steel Dynamics (+4.6% to 16.14 dollars) announced a profit of $ 98.7 million and revenue of $ 2.08 billion, all two above expectations.

Also note, MSC Industrial Direct (0.64% to 65.79 dolars) has announced the acquisition of American Tool Supply and its subsidiary American Specialty Grinding without specifying the amount of the transaction.

According to the Financial Times, the fourth group HNA Group Air China would be the favorite to take over the subsidiary of General Electric GE SeaCo.

Moreover, according to Bloomberg AMR Corp (0.41% to 4.93 dollars), the parent of American Airlines, could be divided between Airbus and Boeing single-aisle aircraft order it plans to spend.American Airlines is negotiating with manufacturers for the purchase of more than 250 aircraft.

The American insurance company AIG (0.80% to 27.87 dollars) study the stock market into a stake in its subsidiary, ILFC aircraft leasing, operation that could bring him back from 1.5 to 2 billion, reports the Wall Street Journal Monday.

If Grace Kelly was married in technicolor, his son Albert of Monaco, will this Saturday afternoon … 3D. So the TV has decided that Orange offers its 15,000 subscribers have 3D TV, monitor live and exclusive the ceremony's most glamorous summer in this new technology. "This is the royal palace itself was planning to film the ceremony in 3D for its archives," reveals Ghislaine Le Rhun, Executive Director for Orange 3D in charge of the project. "We offered to broadcast it live on our channel 30 dedicated to this new technology," said she. "The royal wedding is well suited to this type of transmission, because in addition to being glamorous, it has several technical plans: those of married guests or views of Monaco." A promise of entertainment that inspires the Rock, especially since the event will benefit from a worldwide distribution.Indeed, Orange has not only involved its channel dedicated to 3D but also mobilized social networks – the news had already been around the last twittosphère Spanish. The event will also be available on Dailymotion, the portal of Orange and in countries where Orange operates through its triple play. Finally, Orange has an agreement between Eutelsat and its 10,000 retail outlets for consumers to find in the windows of shops and those of Darty or Boulanger images in 3D.

Extension to the documentary

To attract even more subscribers, the transmission will be preceded by a documentary by BSkyB and directed at the wedding of Kate and William of England. For Ghislaine Le Rhun, "it is clear that 3D is not just for sport.The documentary is a genre that is perfect for 3D ", she says, noting that Orange has teamed up with France Televisions for the production and distribution of two documentaries about the" greatest country in the world, " and "the most beautiful forests in the world." Similarly, the operator had joined Arte to broadcast last Christmas circus. More recently, with TF1 Orange captured the final Barcelona-Manchester. For Ghislaine Le Rhun, "it will take two to three years before the 3D left the experimental stage to take a full distribution channel." Already 120 games have been broadcast on channel 30 as well as all international Roland Garros.

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Before the arrival of a new generation of video game consoles, the market declined sharply. This prediction is reflected in the figures. The French market was down 9% over the first five months of the year to 758 million euros, according to figures released Tuesday by research firm GfK distributors.

But on the whole of 2011, physical sales are expected to decline by 4% to 8% to 2.44 billion euros. The video game market is expected to be saved by the digital distribution of programs, for consoles, smartphones, Internet tablets and games for social networks. "The dematerialization of video games as an opportunity than a threat," says Pierre Cuilleret, the President of Micromania, in the bosom of the distributor Gamestop.In April, Gamestop said that $ 290 million were realized by the sale of games dematerialized, up 61% year on year credit score.

Improvement expected by year-end

For two and a half months, Micromania advises its customers to purchase in its stores codes for games on the Xbox Live network. This prevents users to leave their credit card details online. This reassures them after the theft of bank details of millions of users of Sony network.

The video games industry should see an upturn later this year, between October and November, with the launch of many games. In addition, the market should be supported by the arrival of the handheld console Sony PlayStation Vita around Christmas and a catalog provided more games for the Nintendo 3DS.Microsoft should continue to score points with its accessory Kinect.

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"We all costs to avoid dispersion." This is how the head of state has summarized, in the fourth press conference since the start of his five-year, the method used for 18 months in the allocation of the general loan. Devoted to investment for the future, the meeting with journalists was an opportunity to the President of the Republic to take stock of its economic policy, and investment for the future that the arbitration had been made public December 14, 2009.

Eighteen months after the launch of the programs, 1.7 billion were directed to higher education and research, € 2.85 billion has been committed to industry and SMEs, 1.64 billion for sustainable development and 610 million for digital.Among the priority sectors, Nicolas Sarkozy also stressed the importance of health, with 2.4 billion euros allocated directly to the sector, accompanied by one billion euros to peripheral actions.

"It is essential that we have a world center of research against cancer," hammered the president on this point, stressing the danger of the fragmentation of research. The Head of State has also asked the government to "think" and "make suggestions" on the funding of an Institute University Hospital (IHU) focused on cancer. And for good reason: the six projects selected under the IHU of the call for projects large loan, financed to the tune of 850 million euros, none is focused on cancer.This has been the subject of much criticism, since this disease is the subject of a "Plan Cancer" initiated by the multi-year Department of Labor from 2009 until 2013, with the aim to unify, coordinate and accelerate research.

Finally, the President refused to ignore the nuclear, confirming that a billion would be allocated "to the nuclear program of the future", including the fourth generation. "There is no alternative to nuclear power today," he thought, pledging 1.35 billion investment in renewable energy.

Annual evaluation of projects

In total, about 35 billion euros announced in late 2009, about 13 billion has already been committed. By the end of the year, the Elysee hopes that two-thirds of the loan, or twenty billion, are effectively injected into the economy."France has never made such an effort in the service of investment," supported the president, noting that the successful projects were selected by international juries, very selective. The Head of State welcomed the enthusiasm shown by researchers and entrepreneurs, with over 1,500 projects submitted in 18 months.

Beyond the list of investments, Nicolas Sarkozy has strongly emphasized the leverage of the device waited, hoping that the 35 billion euros invested become "60-65000000000 through co-financing companies and local communities. "

Meanwhile measure the effectiveness of this leverage, the Head of State is committed to achieving an annual public review of the general loan disbursement, as well as "projects that have won awards and their results ".These results will be a press conference and a meeting of Parliament, Nicolas Sarkozy promised further. An evaluation he described as "normal" given the extraordinary in every project.

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The Stock Exchange of Hong Kong and Shanghai respectively climbed 1.42% to 22,068.70 points and 1.84% to 3012.17 points in morning trading on Friday and take the coast on the main stock indexes in Asia Pacific. In Tokyo, the Nikkei is 0.47% at 9641.68 points, in India the BSE wins 1.33% to 17,964.10 points, Singapore, the Straits Times rises from 0.32% to 3054.54 points and Australia, the S & P / ASX earns 0.33% to 4515.20 points.

So yesterday, a barrel of oil fell in New York and London due to the intervention of the International Energy Agency – which drew on its stocks to meet a "shortage", companies the airline industry substantially benefit the stock market. Air China climbed 6.81%, 1.87% of Singapore Airlines and Qantas of 2.33%. Values ​​rise as exporters like Toyota (1.08%) or Toshiba (4.10%). In South Korea, Samsung and LG allows itself 1.2% 0.9%.On Friday, oil prices increased again: the barrel of "light sweet crude" for delivery in August went back to almost 92 dollars (91.94 dollars to be precise). That of Brent North Sea crude for August delivery took 64 cents to 107.90 dollars. Note also that in Australia, the giant telecom Tesltra which drops by 2.7% against a backdrop of advertisements loss widened.

This Friday is also the first trading day of the Italian Prada. The luxury group took 0.25% for its early trade Friday, becoming the latest group to date to be chosen this place in the heart of Asia to raise capital.The action open to 39.60 Hong Kong dollars (3.56 euros), while the Hong Kong Stock Exchange opened with a gain of 0.39%.

In addition to these movements, the mood settles while the Greek case relaxes: Europe Thursday promised a new plan to save Greece from bankruptcy and avoid contagion to the entire euro area or the rest of world, but kept up the pressure to Athens in exchange for adopting an unpopular austerity program.Greece, it has reached an agreement with international donors on the final details of a new austerity plan, whose adoption in parliament expected next week will determine a second aid plan to avoid bankruptcy the country.

The earthquake in Japan will cost 145 billion euros

The earthquake and tsunami of March 11 in Japan have caused direct damage estimated at 16,900 billion yen (147 billion euros), said Friday the Japanese government. This sum corresponds to the destruction suffered by the infrastructure, homes and businesses of northeastern Japan, devastated by an earthquake of magnitude 9 and a giant tsunami that killed more than 23,000 dead or missing.

The government had previously estimated the damage in a range between 16,000 and 25,000 billion yen (139 to 217,000,000,000 euros).

Co-leader of drones, unmanned aircraft, with the United States, Israel has come into force at the Paris Air Show. Under the leadership of "Israel Export & International Cooperation Institute" and the commercial department of the Israeli Embassy in Paris, fifteen companies representing the flagship of the aerospace industry, display their latest creations. By visiting the house of Israel, visitors can "touch" the latest innovations.

Among them, a strange machine to look worthy of Star Wars called AirMule. Urban Aeronautics presents a model of the UAV helicopter whose rotor is not visible because housed in the body of the device. AirMule has already made several test flights. It is intended to convey the property or to perform medical evacuations in theaters of operation in urban environments or in complex natural sites difficult to access.Its specifications in fact enable it to obtain dual certification (civil and military). It concerns the Israeli Ministry of Defense and NATO.

Another original concept developed by Aeronautics Defense Systems, the transformation of a civilian aircraft into existing UAV MALE (Medium Altitude Long Endurance). "UAVs often have reliability problems because of their platform that can also be certified to fit into the civil air traffic," said a company representative. Aeronautics Defense Systems has decided to work from an Australian aircraft, the Diamond DA 42, the cell tested. And he turned into MALE UAV called Dominator.The company that specializes in unmanned air, land and sea, began production in February Dominator.

Partnership with EADS and Thales

Israel is a major player in the defense market with a global market share estimated at 7 payday loans.5%. In 2010, according to the Israeli Ministry of Defense, the export sales of armaments have reached $ 10 billion, twice more than in 2008. The industry occupies 150 companies whose leaders are the group Rafael, Elbit and IAI, which employ some 44,000 employees. Israel has often been a pioneer in the field of defense. His army was the first to use drones, manned aircraft from the ground station, on a massive scale in 1982 in the Bekaa Valley during the war in Lebanon.

These leading companies have, for years the card partnerships with U.S. and European manufacturers.The group thus provides the platform IAI Heron which is the basis for the Snowy, the MALE UAV militarized by EADS, which is used by the French Air Force in Afghanistan. In Britain, Thales has set up a joint venture with Elbit group to make the platform's tactical UAV Wachtkeeper which has a technology transfer platform Hermes 450. Wachtkeeper was developed for the British Army who ordered 60 copies. It will enter service in late 2011.

In all, Israel has developed a range of UAVs double duty (civilian and military) that goes from the micro-craft to the general observation drone high altitude long endurance (HALE).The fleet in service on five continents has accumulated 700,000 hours of flight, a world record.

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