Israel Business Today back issues from August 1993:
Backbone of the economy. (Israeli small businesses)
Aug 06, 1993; ... More than half of the jobs obtained by new immigrants in recent months have been in small businesses. That finding in itself should be enough to cause a shift in economic planning, but a recent policy paper by the Jerusalem-based Institute for Advanced Strategic and Political Studies ...
LanOptics record results.
Aug 06, 1993 ... LanOptics Ltd has reported record second quarter results, with both revenues and net income the highest in the company's history. Net sales from the second quarter rose 81 percent to NIS 8,833,130, compared to NIS 4,875,764 in the corresponding period last year. Net income in the second ...
Israel No. 4. (international gross national product growth)
Aug 06, 1993 ... Israel has the fourth highest growth rate among industrial nations, according to a survey carried out by economists of Federation of Israeli Chambers of Commerce, based on the guidelines supplied by the World Bank. The survey shows that the growth-rate between 1980 - 1991 was ...
Clal overseas partnerships. (Clal Israel Ltd.)
Aug 06, 1993 ... Clal (Israel) Ltd is expanding its efforts to set up partnerships with industrial concerns abroad. Clal Chairman Avi Olshansky and Clal Industries Managing Director Meir Laiser have met with various industrialists abroad to try to interest them in investing jointly in Israel and other ...
BTG sales up. (Bio Technology General Israel Ltd.)
Aug 06, 1993 ... Bio Technology General (Israel) Ltd reported an increase in sales and a decrease in losses in the second quarter of the year. The company lost $1.9 million on sales of $3 million in the second quarter of 1993, compared to a loss of $2.57 million on sales of $1.2 million in the ...
Israel's magic carpet to China. (China Aviation News periodical to feature Israeli aircraft industry)
Aug 06, 1993 ... A Chinese magazine will for the first time highlight Israel in an upcoming edition. China Aviation News, a weekly magazine, will feature Israel in its gala October edition. The spread is scheduled to coincide with China's biennial aviation exhibition, in which two Israeli companies, Israel ...
Katyushas damage industry. (kibbutz industries damaged by Katyusha rockets fired from Lebanon)
Aug 06, 1993 ... Industry, tourism, and agriculture in the Galilee all suffered from the recent Katyusha rocket attacks from Lebanon. Many factories in the Galilee had to shut down temporarily since their employees did not come to work. In addition, power lines and transportation systems were damaged. Some ...
Arabic illumination. (Linero Drawing and Measuring Equipment Manufacturers Ltd. negotiating to market Lightwrite drawing tables in Arab countries)
Aug 06, 1993 ... Linero Drawing and Measuring Equipment Manufacturers, Ltd is negotiating to market its Lightwrite drawing tables to stores and marketing networks in Saudi Arabia, Bahrain, Egypt, Lebanon, and Kuwait. The first meeting between the company and interested Arab buyers took place at the ...
IAI gives Cobra night vision. (Israel Aircraft Industries Ltd. completes night vision system for Cobra helicopters)
Aug 06, 1993 ... Israel Aircraft Industries Ltd (IAI) has announced the completion of a night vision and targeting system for the American-made Cobra combat helicopter. Published reports say $150 million was spent on the project, which was jointly undertaken by the Israel Air Force and the U.S. Marine ...
Cables goes East. (Cables of Zion Ltd. expands to Cyprus and the Far East)
Aug 06, 1993 ... Cables of Zion Ltd will set up a company in Cyprus and a factory in the Far East to manufacture and market fluorescent lighting products. The total cost of the project comes to $1 million, half of which will come from Israeli and foreign investors. Cables of Zion will hold 50.1 percent of ...
Mekorot cleans up Cyprus. (Electrical Mechanical Services of Mekorot Water Company Ltd.'s water purification contract with Nicosia, Cyprus)
Aug 06, 1993 ... Electrical Mechanical Services of Mekorot Water Co. Ltd has won a contract to advise Nicosia, Cyprus on how to clean up its water supply. Nicosia is divided up into Greek and Turkish enclaves; both the Turkish and Greek sides of the city share the same sewage system, and the city has been ...
Japanese order D.S.P. (D.S.P. Telecommunications Ltd. contract)
Aug 06, 1993 ... D.S.P. Telecommunications Ltd has signed a $2 million development contract with a noted Japanese company. Under the terms of the deal, D.S.P. will develop innovative cellular phone equipment for the company. The equipment will be based on D.S.P.'s technological know-how in digital signal ...
Comverse gets Chinese order. (Comverse Technology Inc.)
Aug 06, 1993 ... Comverse Technology, Inc has received a $3.5 million order from Chinese telephone companies for its TRILOGUE (R) telephone-accessed, multimedia message management systems. The order follows another Chinese order for TRILOGUE, totaling $7.7 million. The TRILOGUE systems, which ...
RTS's Swiss connection. (RTS Relational Technology Systems Ltd. contract with Union Bank of Switzerland)
Aug 06, 1993 ... RTS Relational Technology Systems, Ltd has recently installed a computerized system in the Union Bank of Switzerland which automatically verifies signatures. The system, called character recognition, can detect a forged signature or deviations from the original signature by comparing it ...
Lettice embraces TimeHASP. (Alladin Knowledge Systems' TimeHASP software protection systems)
Aug 06, 1993 ... The American compiler company Lattice has purchased 1,000 TimeHASP software protection systems from Aladdin Knowledge Systems Ltd. This is an initial purchase, and Aladdin expects a series of additional orders from the American company. TimeHASP is a hardware-based system which ...
Laser profits beam. (Laser Industries Ltd.)
Aug 06, 1993 ... Laser Industries Ltd reported net profits of $506,000 in the second quarter of 1993, up from $302,000 in the same quarter last year. Sales income totaled $7.5 million, virtually unchanged since the second quarter of 1992. In the first half of the year, Laser's profits totaled $876,000 on ...
Gambit's marketing agreement. (Gambit Computer Communications Ltd.)
Aug 06, 1993 ... Gambit Computer Communications Ltd has signed a marketing agreement with U.S.-based Memorex Telex. According to the agreement, Memorex will market Gambit's products in North America, Europe and Asia. The deal is expected to generate $10 million in sales during the first year, $6 million of ...
IAI to sell half its shares in SHL. (Israel Aircraft Industries, S.H.L. Servo Hydraulics, Lod)
Aug 06, 1993 ... The Board of Directors of Israel Aircraft Industries' (IAI) is discussing selling 50.1 percent of its shares in S.H.L. Servo Hydraulics, Lod to the U.S.-based company Aura Systems. The deal has already been agreed to by the IAI board's finance committee. S.H.L. manufactures hydraulic ...
Ex Libris computerizes Polish archive. (Polish Parliament's central archives)
Aug 06, 1993 ... Ex Libris Ltd has won the bid on a contract to computerize the library and the central archives of the Polish Parliament. Ex Libris's system is based on the Aleph system developed by the Hebrew University and is specifically designed for computer library systems and other storehouses of ...
Milk Man - Shamir agreement. (Milk Man Dairies Ltd., Shamir Food Industries Ltd.)
Aug 06, 1993 ... Milk Man Dairies Ltd and Shamir Food Industries Ltd are starting a joint distribution company, with ownership split equally between the two firms. The new subsidiary will begin distributing the two parent firms' products in the central region of the country within two months. The managing ...
Bank Hapoalim samples food stocks.
Aug 06, 1993 ... A recent Bank Hapoalim survey determined that the total market value of the 23 food companies traded on the TASE was $1.2 billion, as of July 1993. The market values of Elite, Osem, and Tempo are the largest, exceeding $100 million each. The average price-to-earnings ratio of food industry ...
Ayalon gives 50 percent to Firestar. (Ayalon Insurance Company Ltd.)
Aug 06, 1993 ... After increasing the number of its shares by 50 percent, Ayalon Insurance Company Ltd allotted 50 percent to the Firestar Co. As part of the deal Ayalon is to receive NIS 14.7 million. Ayalon will appoint three directors who will represent Firestar, owned by American businessman David ...
52% of public financial assets in stocks. (Israel)
Aug 06, 1993 ... According to Tel Aviv Stock Exchange Chairman Haim Stoessel, institutional investors' stock holdings come to roughly eight percent of the shares held in Israel. Stoessel said 70 percent of the shares sold are still held by major figures and private investors. The Head of the Research ...
Insurance profit drop. (Israeli insurance industry)
Aug 06, 1993 ... Net profits of insurance companies totaled NIS 48.6 million in 1992, a 28 percent drop compared to the year before, according to figures released by the Israel Insurance Association. The cash dividend distributed to shareholders dropped 13.4 percent to NIS 33.1 million. The figures ...
Kibbutz land for rent.
Aug 06, 1993 ... A proposal for getting troubled kibbutzim out of debt is currently being discussed by the Ministries of Agriculture and Finance. The proposal involves using kibbutz agricultural lands situated near big cities for such purposes as tourism, trade and industrial zones, with the ...
Construction company to be floated. (Ben Cohen Building, Development and Investment Ltd. stock issue)
Aug 06, 1993 ... Beni Cohen Building, Development, and Investment Ltd plans to raise NIS 17 million in a stock flotation on the TASE. The issue will be carried out in the near future and will be based on the company's valuation of NIS 63 million. The company finished the first quarter of 1993 ...
Bigger military budget. (Israel Defense Forces)
Aug 06, 1993 ... IDF Chief of Staff Lt. Gen. Ehud Barak has requested an additional half billion shekels to be added to the military budget for 1994. The request was opposed by Minister of Finance Avraham Shochat. Barak's request was supported by Minister of Labor Ora Namir, Minister of Economic ...
Israel's Turkish delight. (Israeli-Turkish foreign trade)
Aug 06, 1993 ... Trade between Israel and Turkey has grown considerably since 1987, the Israel Manufacturers Association said. Exports to Turkey have grown from $34.3 million in 1987 to $113.4 million in 1992, and imports have increased from $19.8 million in 1987 to $79.6 million in 1992. ...
Request for new Investment Center projects.
Aug 06, 1993 ... The Investment Center recently approved of a number of plans to build or expand industrial and tourist projects. Amir Paper Products of Kibbutz Amir, manufacturers of Tafnukim brand diapers, will invest $8.9 million to expand its diaper factory. Roughly half of the increase in production ...
Salve to treat impotence developed. (Stearyl-VIP)
Aug 06, 1993 ... A modified peptide administrable as a salve has been proven effective in animal trials as a treatment for impotence. Clinical trials on the new treatment, developed by Prof. Mati Fridkin and Prof. Illana Gozes, may begin in the near future. Gozes and Fridkin began their ...
First aid for Rover. (Acorn Medical Products Ltd. develops first aid kit for household pets)
Aug 06, 1993 ... Acorn Medical Products Ltd has developed and begun marketing a first aid kit for household pets. The kit is a veterinary version of the family first aid kit, which is not always suitable for treating animals. Acorn's kit includes written instructions on health care for pets and 25 ...
Weighing the very heavy. (Technion Entrepreneurial Incubator Company Ltd. develops scaleless heavy weighing technique)
Aug 06, 1993 ... The Technion Entrepreneurial Incubator Company Ltd (TEIC) has developed a way to measure very large weights and pressures without the use of conventional scales. The system, invented by two researchers at the company, can measure forces equal to weights of up to 5,000 tons. In order to use ...
3-D driving aid. (Weizmann Institute develops develops three dimensional visual display technique)
Aug 06, 1993 ... Engineers at the Weizmann Institute have developed a novel method for displaying visual information in front of the viewer's eyes. Such displays, created with the help of two holographic elements recorded on a single glass plate, may help drivers concentrate on the road, assist pilots in ...
Ma Bell calls Israel. (ARMT Multimedia and Telecommunications distribution contract with AT and T Secure Communications System)
Aug 06, 1993 ... Tel Aviv-based ARMT Multimedia and Telecommunications has been chosen as the Israeli distributor for AT&T's Secured Communication Systems. The systems, which range from telephone, cellular and fax to computer communications, E-mail, video and multimedia, are targeted for the security and ...
Info for diamond merchants. (Arodiam introduces Aeronet, diamond industry communications system)
Aug 06, 1993 ... Arodiam recently unveiled Aeronet, a new communications system for obtaining commercial information on the activities of the diamond industry. The system is currently being used in the diamond exchanges of Ramat Gan and Antwerp, Belgium. Aeronet is based on a central computer ...
New ARYT research subsidiary.
Aug 06, 1993 ... ARYT Ltd will invest $4 million in establishing a new company to develop a new line of telecommunications products. ARYT will hold 70 percent of the shares in the company, with the other 30 percent being held by private investors in the telecommunications field. The new company is to begin ...
Oil to be finer. (division of Oil Refineries Ltd. into two corporations)
Aug 06, 1993 ... Negotiations are currently underway between the government and The Israel Corporation regarding the splitting up of the Haifa-based Oil Refineries Ltd, 26 percent of whose equity is held by the corporation. The Ministry of Energy and Infrastructure and the Ministry of Finance have decided ...
Polyziv pioneers pallet. (Polyziv Injection Moulding Plastics develops a heavy duty plastic pallet)
Aug 06, 1993 ... Polyziv Injection Moulding Plastics of Kibbutz Gesher Haziv has developed a plastic pallet that can hold up to 100 times its weight. The pallets are made by a hard foam injecting process developed at Polyziv. Under certain circumstances a standard 1 by 1.2 meter pallet can hold as much as ...
Diamond merchants in the rough. (near bankruptcies)
Aug 06, 1993 ... According to sources in the diamond industry, 25 percent of Israel's diamonds merchants are on the verge of bankruptcy. These merchants are working without capital and are forced to keep rolling over their debts -- taking out new loans at high interest rates to pay off other loans in order ...
Vulcan forges ahead with profits. (Vulcan Batteries Ltd.)
Aug 06, 1993 ... Vulcan Batteries Ltd reported net profits of NIS 130,000 in the second quarter of 1993, up from NIS 24,000 in the corresponding period of last year. The company attributed the improvement to streamlining measures and a changeover to direct marketing. In the second quarter, ...
On site piping. (Golan Plastic Products develops on site plastic pipe manufacturing technology)
Aug 06, 1993 ... Engineers from Kibbutz Shaar Hagolan's Golan Plastic Products factory have developed technology which facilitates the manufacture of plastic pipes on site. Involved is the production of mobile units which can be fitted together to produce large-diameter pipes at the building site. ...
BSE buyout unlikely. (Beit Shemesh Engines)
Aug 06, 1993 ... Beit Shemesh Engines, (BSE) the Beit Shemesh engine manufacturer under the management of Ormat Industries, has recorded a growth in sales. However, ongoing difficulties may yet prevent Ormat from purchasing the government's shares in the company. A final decision on this matter ...
Bio-technology bounces back. (Israeli biotechnology industry)
Aug 06, 1993 ... No industry strives to create products which can have a more dramatic impact on human conditions than bio-technology. Since the discovery of D.N.A. 40 years ago, genetic engineering has been applied to produce new drugs, innovative diagnostic tools for disease, improved livestock, refined ...
Michael Seely; President Investor Access Corporation. (Personal Profile) (Column)
Aug 06, 1993; ... As the more than 40 Israeli companies that trade publicly in the U.S. are finding out, the marketing of stock shares is no less important than the marketing of products themselves. Michael Seely, president of Investor Access Corporation, has helped manage the U.S. investor relations ...
Telegraph signals U.S. (Telegraph, newspaper, U.S. initial public offering)
Aug 13, 1993; ... The Al Hamishmar building always has been a hotbed of wild dreams. At this southern Tel Aviv location, the ultra left-wing HaShomer HaTzair movement publishes a daily newspaper. Over the years it has produced some of the most radical, socialistic blueprints ever conceived for the Israeli ...
Khashoggi wants to build factory in Israel. (Adnan Khashoggi)
Aug 13, 1993 ... The Israeli newspaper Maariv reported recently that Arab billionaire Adnan Khashoggi is planning to invest tens of millions of dollars in a pipe factory in Israel. The project will be a joint venture between Khashoggi, the Italian company TRV, and Israeli investors. The plant ...
Government tax surplus. (Israel)
Aug 13, 1993 ... In the first seven months of the year, the government collected half a billion shekels more in tax revenue than projected in its original budget. From the beginning of the year until the end of July, the government collected NIS 33.3 billion in taxes, an increase of 5 percent in real terms ...
Yogurt for U.N. (Yotvata Dairy contract with U.N. forces in Somalia)
Aug 13, 1993 ... Yotvata Dairy of Kibbutz Yotvata has signed an agreement to export its Yogi-Pri dairy product to U.N. troops stationed in Somalia. The agreement calls for the export of 40,000 yogurts at a cost of about $10,000. This is the first export agreement the company has ever entered. Because of ...
Scitex investigating foreign purchases. (Scitex Corporation Ltd.)
Aug 13, 1993 ... Scitex Corporation Ltd is continuing to investigate the possibility of acquiring companies abroad, said Scitex President and CEO Arie Rosenfeld. The company is interested in branching out into areas other than graphics and computerized prepress, which have been its mainstay up until now. ...
I.D.E. desalinates the seven seas. (I.D.E. Technologies Ltd. awarded six foreign contracts)
Aug 13, 1993 ... I.D.E. Technologies Ltd., a subsidiary of Israel Chemicals Ltd, has won six foreign tenders to build sea water desalination plants. The combined value of the contracts is $23 million. The local electric company in the Venezuelan capital of Caracas purchased two desalination plants worth a ...
G.M.A. communicates with the world. (G.M.A. Communication Ltd., foreign operations)
Aug 13, 1993 ... G.M.A. Communication Ltd is expanding its overseas activities and so far this year has opened eight new marketing offices in countries in Western Europe and the Far East. The offices will help G.M.A. market its voice-answering systems and communications systems in Germany, Holland, Italy, ...
IMI in trouble. (Israel Military Industries)
Aug 13, 1993 ... Israel Military Industries will be unable to pay salaries and pensions unless the government gives it money soon, according to a letter the company's chief financial officer sent to Ministry of Finance Accountant-General Reuven Kokolevitch. Kokolevitch confirmed he had received the letter ...
Siemens pines for DSP. (Siemens Semiconductor Group obtains license to use PINE Digital Signal Processing)
Aug 13, 1993 ... Siemens Semiconductor Group recently acquired the license for the use of PINE Digital Signal Processing (DSP), developed by DSP Semiconductors Inc. PINE DSP is a low cost, low voltage, high speed 16-bit fixed point DSP core. It is designed for speech/audio processing, telecommunications, ...
Government proclaims tax break. (Israel)
Aug 13, 1993 ... The Israeli cabinet decided, after a special meeting called to discuss the 1994 budget, to lower the income tax burden and abolish the immigrant absorption tax. The income tax reform comes into effect in January 1994 and is to be carried out over two years. It affects those with gross ...
NIS 10 million damage from Katyushas. (New Israeli Shekels, rockets)
Aug 13, 1993 ... Damage to agriculture resulting from the recent Katyusha rocket attacks on Israeli targets in northern Israel is expected to reach NIS 7-10 million, the Ministry of Agriculture said. The damage includes lost working-time in orchards, packing houses, and slaughterhouses. (See IBT no. 339) ...
Work requests down in July. (Israel)
Aug 13, 1993 ... The number of requests to employment agencies for workers fell by three percent in July, as compared to the previous month, according to officials of the employment agency, Manpower Israel Ltd. There were 20,320 requests for workers in July, compared to 20,900 in June. The ...
Bezeq's international calls. (Bezeq-The Israel Telecommunication Corporation Ltd. offers contracts)
Aug 13, 1993 ... Bezeq, The Israel Telecommunications Corp. Ltd has published two international tenders for the supply of the products the company uses. This will end the monopoly local companies have had as sole suppliers to Bezeq. One tender is to supply copper cables, the second is to supply ...
Tempo's Bornstein passes. (Tempo Beer Industries Ltd. founder Moshe Bornstein)
Aug 13, 1993 ... Moshe Bornstein, founder of Tempo Beer Industries Ltd, died late in July. Bornstein's family and companies they own hold 80 percent of the Tempo's equity. Another 6 percent is controlled by Bank Leumi's trust and pension funds, with remaining shares traded on the Tel Aviv Stock Exchange ....
Golan drinks in profits. (Golan Heights Winery Ltd.)
Aug 13, 1993 ... Golan Heights Winery Ltd sales for the first half of 1993 were 20 percent higher than in the corresponding period in 1992. Despite the uncertainty over whether the Golan Heights will be returned to Syria as part of a peace agreement, the Investment Center of the Ministry of Industry and ...
Carmel wines expect 30 percent growth. (S.C. Vigneronne Rishon Lezion)
Aug 13, 1993 ... S.C. Vigneronne Rishon Lezion & Zichron Yaakov -- marketed under the name of Carmel Mizrahi -- expects a 30 percent growth in dollars for 1993. Sales for 1992 reached NIS 120 million -- an increase of 21 percent over sales for 1991. Exports grew 60 percent in 1992, to reach over $6 ...
Visa to Givatayim. (Visa - Israel Credit Card Co. moves to Givatayim, Israel)
Aug 13, 1993 ... Visa - Israel Credit Card Company (ICC) is currently moving into new headquarters in Givatayim. The new building was built at a cost of several million dollars, reflecting the continued popularity of credit cards in Israel in general and of ICC in particular. Present at a dedication party ...
New Phoenix investment firm. (Israel Phoenix Assurance Company Ltd. to establish an investment company)
Aug 13, 1993 ... Israel Phoenix Insurance Co. Ltd has decided to set up a new firm to invest in real assets in the Israeli economy. This will be the first time such an investment firm will be established by an Israeli insurance company. Phoenix has widened its scope of operations and by setting ...
Plan to abolish maximum flotation price. .
Aug 13, 1993 ... Bank of Israel Governor Jacob Frenkel and Likud Knesset Member Dan Tichon have proposed suspending the rule which sets a maximum price for stock flotations. They suggest implementing the change for a trial period of three months, during which the price of issues will be monitored in order ...
Technion governors upset at investments. (Haifa Technion Board of Governors)
Aug 13, 1993 ... The Board of Governors of the Haifa Technion has criticized the policy of investing the institute's money on the Tel Aviv Stock Exchange. In recent years the Technion has invested NIS 90 million in shares, which it continues to hold, despite the fact that most of its holdings have been on ...
Top Line managers arrested.
Aug 13, 1993 ... Four managers of the Rishon Le Zion-based electrical appliance importer Top Line Ltd recently appeared in the Tel Aviv Magistrates Court on charges of smuggling electronic goods into the country. Moshe Mamrud, Roni Sinai, Avraham Rosenbaum and Gideon Vigdor are accused of ...