Did Israel bump off a Hamas arms runner, whose purchases were destined for the population centres of Tel Aviv and Jerusalem? When you cut away all the spin, there ain’t much real proof.

And meanwhile, back in the Holy Land, there is so much positive economic and commercial news that the world’s media seemingly goes to great length to report….in silence.

Did you hear that Israel and Egypt are seriously mulling over a joint venture to produce solar energy? How about Mumbai’s drive to form a free-trade agreement with Jerusalem? With Israel’s growth indicators continuing to move in the right direction, the governor of the Bank of Israel has been exuding cautious optimism.

On a micro level, there are multiple signs that Israel’s innovation revolution is has not stopped because of the recession. I have scheduled a visit to Israel for a UK firm in 2 weeks time; a joint venture based on a hardware-software application. I have spoken to participants from the 2nd Eilot conference on Cleantech, who related that every table seemed to be occupied with partners signing LOIs.

Move over to Barcelona, where 70+ Israeli companies are creating a very audible presence amongst the giants of Nokia et al.

Buongiorno (Italy, MTA STAR:BNG), the world’s leader in mobile entertainment, has signed a cooperation agreement with the IMA – Israel’s Mobile & Communications Association; a non-profit organization representing over 100 Israeli member companies, …. in which the IMA will give Buongiorno fast access to Israeli technological innovation in the mobile sphere, while Buongiorno will introduce IMA’s portfolio companies to a potential +130 telecom operators it currently serves…

And it’s not just high tech that is doing Israel proud. Even Israel’s chocolate industry, once known as the epitome of poor and cheap ingredients, is finding its way to the heart of exclusive global population groups.

Look beyond the duplicitous claims emerging  from the Dubai story, and you find a friendly and healthy economy, looking to share its goodies with the rest of the world.