Google has finally added Hebrew to the rather astounding array of languages it can translate to and from English. As with the other languages, they're using their own statistical translation engine, which does a decent job at least with media-level language.
Of course, getting your bilingual corpus from places like Haaretz.com and Haaretz.co.il has its drawbacks. One news article I tried translating from English mentioned the word "home", meaning "residence" in context.
It got translated as דף הבית — "home page."
Photograph by Russell Reno (on Flickr, under Creative Commons license).
Wikipedia article on false friends.
In Hebrew, the word עני (ʿani) means poor.
(The spelling is ʿayin-nun-yud.)
In Arabic, the word غني (ghani) means rich.
(The spelling is ghayin-nun-ya. ʿayin and ghayin merged in Hebrew a few millenia ago; they're both represented by ʿayin in Hebrew. This means that the root of the two words is essentially the same.)