Middle East Cannabis Industry & Marijuana Business News

Israeli Parliament ends years of delays, approves medical cannabis exports

After years of delays, the Knesset – Israel’s Parliament – unanimously approved a law to permit exports of medical marijuana late Tuesday. Some analysts believe the move could unlock a market worth up to $4 billion. To assuage concerns from security officials that medical marijuana would leak into the black market, the law empowers police […]

Read More

Medical cannabis export law passes first vote in Israeli Parliament

A long-awaited bill to permit the export of medical cannabis from Israel passed the first of three crucial votes in the country’s Parliament, potentially setting it up for approval in the first half of 2019, according to experts. The bill was passed in the first reading Monday in the Knesset after a government committee approved […]

Read More

Israel advances medical marijuana export law

An Israeli government committee approved the first draft law on the export of medical cannabis, an important step toward the government’s long-delayed plan to foster an MMJ export industry. The draft law was vetted by the Internal Affairs Committee, headed by Yoav Kish, and now moves to the Knesset – Israel’s Legislature – where lawmakers will […]

Read More

Israeli medical cannabis pioneer hit with ‘temporary closure’

The largest supplier of medical marijuana in Israel is not distributing or selling products from its facility in Biriya after the Ministry of Health raised questions over a new drying process – but the company expects the facility to be up and running in a matter of days. Tikun Olam CEO Aharon Lutzky said the […]

Read More

Is Canada’s marijuana legalization a ‘template’ for the world to follow?

Canada took its first steps into a future of legal cannabis Wednesday, but what that means for prohibition in other countries largely remains to be seen. Will other countries follow Canada’s move toward ending prohibition? What impact will ending prohibition there have on global medical cannabis markets? Canadian Senator Tony Dean believes every country will […]

Read More

Former Israeli prime minister joins cannabis company board

Former Israeli Prime Minister Ehud Barak has joined a short, but growing, list of former heads of state getting involved in the international cannabis industry. Barak has joined Herzliya-based licensed medical cannabis company Intercure as chairman of its board of directors. Former Mexican President Vicente Fox sits on the board of directors of Canadian cannabis […]

Read More

‘Global paradigm shift’: International cannabis business opportunities will accelerate

Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian  dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]

Read More

Lebanon weighs medical cannabis laws as Israel drags feet

While cannabis companies in Israel await export approval, neighboring Lebanon is reportedly considering turning to MMJ to improve its economy. Global consulting firm McKinsey & Co. recommended legalizing medical cannabis to Lebanon’s cabinet earlier this month, among other proposals. The move could add up to $1 billion to the country’s economy, Economy and Trade Minister […]

Read More

Global spending on legal cannabis to hit $57 billion by 2027, report says

Worldwide spending on legal cannabis is forecast to reach $57 billion by 2027, led by growth in North America and Europe, according to a new report by Arcview Market Research and BDS Analytics. North America will continue to see the most spending on legal cannabis, rising from $9.2 billion in 2017 to $47.3 billion in […]

Read More

Israeli cannabis exports now in prime minister’s hands; Trump pressure denied

A key Israeli parliamentary committee came to a consensus on the urgent need to approve medical cannabis exports – which insiders consider crucial for the creation of a sustainable MMJ industry – and vowed Monday to push for a quick resolution. That clears an important hurdle for the issuance of export permits, putting the ball […]

Read More