Israel Business Today back issues from December 1993:
CHAI infuses medical capital. (trading name for Life Medical Sciences on NASDAQ)
Dec 03, 1993; ... The scorn with which the Israeli medical establishment reacted to an anti-tumor drug being developed by an Israeli scientist has not deterred two U.S. venture capitalists from backing the project. In 1990 Haifa reseacher Dr. Eitan Barnea took the unusual step of bypassing scientific ...
Hapoalim floatation fails, Leumi offering postponed. (Bank Hapoalim, Bank Leumi shares)
Dec 03, 1993 ... The second flotations of Bank Hapoalim and Bank Leumi shares have run into unexpected difficulties. The Ministry of Finance and M.I. Holdings offered Hapoalim shares worth NIS 584 million on the Tel Aviv Stock Exchange, but the public ordered only NIS 403.5 million, or 69 percent of the ...
Frozen organic vegetables to Italy. (Sunfrost Ltd. will supply Plasmon)
Dec 03, 1993 ... Sunfrost has signed a contract to supply 200 metric tons of frozen bio-organically grown vegetables to the Italian company Plasmon, which is owned by industry giant Heinz. The deal is worth an estimated $250,000 in 1994. The agreement creates a partnership between the Italian firm, ...
Clal trading up. (Clal Trading Ltd.)
Dec 03, 1993 ... Clal Trading finished the third quarter of 1993 with a net profit of NIS 5.7 million, up from NIS 3.3 million a year ago - an increase of 73 percent. Capital yield was 10.1 percent, compared with 1.8 percent last year. Net profits for the first nine months of 1993 were NIS 15.8 million, a ...
Half of El Al to be privatized by end 1994.
Dec 03, 1993 ... Up to 51 percent of E1 A1 shares will be sold on the Tel Aviv Stock Exchange by the end of 1994. Privatization will give the company control of all of its operating assets. Fifty percent of the airline's $80 million security costs will be funded by the government, with E1 A1 taking over ...
Bank of Israel wants interest rates raised.
Dec 03, 1993 ... The Bank of Israel said inflation could be limited to an annual rate of 8 percent in 1994 if interest rates were raised. A spokeswoman said that the bank is worried about the current inflation rate of 11.6 percent, and that meeting next year's target of 8 percent inflation will be ...
Israel leads in computer text ID. (European Computer Sources magazine cites Israeli companies for computer text identification systems)
Dec 03, 1993 ... European Computer Sources, a leading monthly magazine for integrated systems and marketers, featured Israel in its November issue as a leader in computer text identification. The magazine reviews new sources for Optical Character Recognition (OCR) systems in Europe, and mentions three ...
Robomatix IPO planned on NASDAQ. (initial public offering, National Association of Securities Dealers Automated quotation)
Dec 03, 1993 ... Robomatix has submitted a prospectus for an upcoming IPO on NASDAQ. The company plans to issue 1.75 million shares, constituting 40 percent of equity. At a price of roughly $10 per share, the company expects to raise $15 million. A company spokeswoman said Robomatix will likely use the ...
Teledata 3rd-quarter profits up. (Teledata Communication Ltd.)
Dec 03, 1993 ... Teledata Communication announced third-quarter sales of $9.9 million, compared with $6.2 million for the third quarter of 1992 - an increase of 61.3 percent. Net earnings for the quarter were $2.7 million, up from $1,9 million for the same quarter last year. This represents a 42.4 percent ...
E.F.I.'s new Fiery 200i. (E.F.I. Electronics For Imaging, color server)
Dec 03, 1993 ... E.F.I. Electronics For Imaging has come out with a new version of its color server. The new Fiery 200i converts the Xerox 5775SSE color photocopier into a color printer which supports the Post Script 2 computer language, and permits fast and cost-saving color printing from work stations ...
Shekem-Kaufring marketing agreement.
Dec 03, 1993 ... The Shekem department store chain has signed a strategic cooperation agreement with Kaufring, a German marketing company. Under the agreement, Kaufring will buy electronics and clothing with international labels, which Shekem will market in its department stores in Israel. Shekem will also ...
European-Israeli Economic Council formed.
Dec 03, 1993 ... A European-Israeli Economic Council has been formed recently, with the task of advancing Israel's business activities in the EC. The council, which will open its office in Brussels, will receive partial funding from European institutions. The council will be ...
Israeli companies looking to Arab markets.
Dec 03, 1993 ... Several Israeli companies are trying to establish contacts in the Arab world. Kibbutz Ein Harod, whose company Dykam Ein Harod manufactures and exports medical and industrial recording-charts paper, as well as thermal and facsimile paper, has established contacts in Syria, Saudi Arabia and ...
Israel to train Arab jewelers. (three organizations plan vocational training for Palestinian students)
Dec 03, 1993 ... The Israel Jewelry Manufacturers Association, the Ministry of Industry and Trade, and the Israeli Embassy in Brussels are planning a vocational training project for Palestinian students, as well as for other Middle Eastern students. Association Managing Director Itzhak Ben-Dor ...
Shochat favors open economy. (Israeli Finance Minister Avraham Shochat)
Dec 03, 1993 ... Finance Minister Avraham Shochat said he favors an open economy with the Palestinians. Israel's position as a Middle East center for international economic activity, together with other criteria, will allow it to maximize its economic potential, he said. The economic transformation will ...
Golan Wines to expand. (Golan Heights Winery building plans)
Dec 03, 1993 ... Golan Heights Winery has begun a NIS 13 million building and development program, which calls for adding 400 meters to the visitors' center. The center will have a convention auditorium. instructional videos, a wine museum with archeological findings on wine production, and other ...
Osem-Taste of Israel cooperation. (Osem U.S.A., Taste of Israel marketing joint venture)
Dec 03, 1993 ... Food manufacturers Osem U.S.A and Taste of Israel have agreed to set up a new marketing company in the U.S., to be called Osem Taste of Israel (OTI). The new company will market Taste of Israel products in the U.S., which is expected to double Taste of Israel's $400,000-$500,000 in annual ...
No limits on stock prices? (Israel Association of Public Companies asks High Court to end stock price limit moratorium)
Dec 03, 1993 ... The Association of Public Companies has asked the High Court to nullify the government's decision to do away with maximum limits on stock prices. The 200-member organization believes the decision, in effect December 1, will adversely affect the purchasing power of companies issuing stocks, ...
Yields from provident funds decline. (Israel)
Dec 03, 1993 ... Provident funds declined during the first six months of 1993 to a negative real yield of 4.2 percent, as compared with a positive real yield of 6.34 percent for the first half of 1992. The drop is due to the fall in prices of stocks and bonds. These funds are apparently becoming more ...
Knesset eliminates maximum prices for flotations. (Knesset Finance Committee, Israel)
Dec 03, 1993 ... In an effort to curb massive oversubscription of new offerings, the Knesset Finance Committee recently eliminated the maximum price on stock issues for a six-month period. Total stock issues were oversubscribed by 132 times in 1991, 75 times in 1992, and 91.5 times in the first half of ...
Union Bank and IDB sign agreement. (Union Bank of Israel, Israel Discount Bank)
Dec 03, 1993 ... Union Bank of Israel, which specializes in financing for the diamond industry, has signed a consortium agreement with Israel Discount Bank, under which IDB will assume 35 percent of Union Bank's debt risk if a diamond merchant goes bankrupt. Credit to the diamond industry totals ...
UMB's profits soar. (United Mizrahi Bank)
Dec 03, 1993 ... United Mizrahi Bank's net profits for the first nine months of 1993 grew 117 percent to reach NIS 96.4 million. This constitutes a 14 percent yield on shareholders' equity, which totaled roughly NIS 1 billion. The bank's third-quarter profits grew 126 percent over the third quarter of 1992 ...
Foreign interest in Israeli real estate. (Anglo-Saxon Real Estate reports)
Dec 03, 1993 ... Following the recent breakthrough in the peace process, Israel's real estate market has experienced an unprecedented flow of investors and buyers from abroad, Werner Loval, a partner in Anglo-Saxon Real Estate, said recently. Among the investment projects under discussion are: ...
Land tender planned in central Israel. (Modi'in)
Dec 03, 1993 ... The Israel Lands Authority and the Ministry of Construction and Housing have issued a tender for land in Modi'in, in central Israel. The land is divided into 13 lots on which 3,840 housing units will be built. In order to limit the number of bids, the authorities have stipulated that ...
Israel-EFTA meeting in Jerusalem. (European Free Trade Association)
Dec 03, 1993 ... The first annual Israel-EFTA (European Free Trade Association) Joint Economic Committee met recently in Jerusalem under the terms of the Israel-EFTA Free Trade Agreement which took effect in January. Ministry of Industry and Trade Director General Natan Sharoni said the discussions ...
New distribution center guidebook. (Israel Export Institute guidebook on overseas centers)
Dec 03, 1993 ... The Israel Export Institute recently published a guidebook on distribution centers abroad, which includes specific information on the centers, their operating advantages and disadvantages, various alternatives, and considerations involved in choosing a suitable one. Marketing ...
Turkish delegation visits. (business delegation to Israel)
Dec 03, 1993 ... A 20-member business delegation from Turkey recently arrived in Israel as guests of the Israel Export Institute, the Federation of Israeli Chambers of Commerce, and the Manufacturers Association of Israel. Each delegation member met with Israeli business people and exporters in ...
Cypriot trade delegation. (visits Israel)
Dec 03, 1993 ... A trade delegation from Cyprus which included 15 representatives of trading companies, banks and transportation firms, arrived in Israel recently as guests of the Federation of Israeli Chambers of Commerce. The delegation head said the Cypriot government wants to open an embassy in Israel ....
Privatization of Medals Authority re-evaluated. (Israel Finance Minister Avraham Shochat policy)
Dec 03, 1993 ... Finance Minister Avraham Shochat has ordered a re-evaluation of the decision to privatize the Government Medals Authority. This despite a decision by the Ministerial Committee on Privatization to privatize the company. Finance Ministry officials were unwilling to comment on Shochat's ...
Teva hosts Ecuador's health minister. (Teva Pharmaceutical Industries, Dr. Patricio Aba-Herrera)
Dec 03, 1993 ... Ecuadorian Health Minister Dr. Patricio Aba-Herrera recently concluded a visit to Israel as a guest of Teva Pharmaceutical Industries. Aba-Herrera was in Israel to discuss strengthening the cooperation between the Israeli company and Ecuador's health system and pharmaceutical industry ....
EI On's new version 5.0. (El On Software Systems Keren Office Solutions 5.0, facsimile software)
Dec 03, 1993 ... El On Software Systems' new version 5.0 of Keren Office Solutions allows users to send and receive faxes from and to a variety of word processors, and store them in Keren's document archive. Keren Office Solutions includes applications for personal information management, ...
Elron developing artificial intelligence. (Elron Electronic Industries Ltd.)
Dec 03, 1993 ... Elron Or Yehuda, the development group of Elron Industries, has begun developing artificial intelligence systems on the Windows NT environment. The development group recently purchased from Bynet Software Systems a Microsoft Windows NT advanced server. Elron Or Yehuda develops ...
Pazgas-Petrolgas merger approved. (Pazgas Marketing Co., Petrolgas Israeli Gas Co.)
Dec 03, 1993 ... The Director of the Anti-Trust Division of the Ministry of Industry and Trade, Yoram Turbovitch, recently approved the merger of Pazgas Marketing Co. with Petrolgas Israeli Gas Co. (1969). In order not to adversely affect competition in the gas supply market, Turbovitch stipulated that the ...
Electric Corporation profits soar. (Israel)
Dec 03, 1993 ... The Israel Electric Corporation (IEC) announced profits of over NIS 150 million in the first nine months of 1993, up 150 percent from NIS 69 million in the corresponding period of 1992. Company officials said IEC profits have grown significantly as electrical power sales ...
Naphtha privatization delayed. (Naphtha Israel Petroleum Corp.)
Dec 03, 1993 ... Privatization of Naphtha Israel Petroleum Corp has been held up for at least three months due to a disagreement between the Ministries of Energy and Finance. The ministerial committee on privatization originally decided that all of Naphtha's shares should be issued on the Tel Aviv Stock ...
Banking on water. (Haifa University Professor Mordechai Schechter proposes international water bank)
Dec 03, 1993 ... Speaking at a conference on "Water Resources in the Middle East" at the University of Illinois, Prof. Mordechai Schechter of Haifa University suggested setting up a"water bank", where countries would sell their excess water at a profit. The country selling the water would then use the ...
J. Malki flooded with foreign orders. (J. Malki Industries, Israel)
Dec 03, 1993 ... J. Malki Industries Managing Director J. Malki said the company has received an increasing number of requests from all over the world for its natural soaps and cosmetics. Malki said the company is considering opening further branches overseas. Company exports totaled $1 million ...
20 investment plans approved. (Israel Investment Center)
Dec 03, 1993 ... The Israel Investment Center recently approved 20 investment projects at a total cost of $48 million. Among the projects approved: * Construction of a metals factory in Yokneam - $4.8 million; * Expansion of Harat Hagalil, which ...
Clal Electonic profits drop. (Clal Electronic Industries)
Dec 03, 1993 ... Clal Electronic Industries reported profits of NIS 58.6 million for the first nine months of 1993 - a 40 percent drop from profits of NIS 97.9 million in the first nine months of 1992. Sales for the period were NIS 22.7 million, compared with NIS 29.8 million a year ago. Clal Electronic's ...
Careline's all-purpose cream. (Product Announcement)
Dec 03, 1993 ... Careline has added "All-Purpose Cream 10" to its line of "10" products. The cream is ideal for use on all parts of the body. It includes a silk protein which protects, ...
Alliance rolls out new tires. (Alliance Tire and Rubber Co.)
Dec 03, 1993 ... Alliance Tire & Rubber Co developed 30 new kinds of tires over the past year, including nine for private cars, five for commercial vehicles and 16 for use on dirt surfaces and on agricultural and industrial equipment. The tires for commercial vehicles are a continuation of a ...
Paltechnica-Pioneer cooperation. (Pioneer Manufacturing)
Dec 03, 1993 ... Paltechnica of Kibbutz Nitzanim has completed a marketing agreement with U.S.-based Pioneer Manufacturing, under which Pioneer will use Paltechnica's ergonomic mechanisms to manufacture chairs. Paltechnica's sales agent in the U.S. is the Imco Group, Inc. which helped arrange ...
Koor to raise $120 M on TASE. (Koor Industries, Tel Aviv Stock Exchange)
Dec 03, 1993 ... Koor Industries Managing Director Benjamin Gaon has unveiled plans to raise $120 million on the Tel Aviv Stock Exchange over the coming year. The funds will be used for new investments, including an infrastructure and recycling project. The flotation will take place after the government ...
Ackerstein sales top NIS 100 M. (Ackerstein Industries)
Dec 03, 1993 ... Ackerstein Industries reported profits of NIS 6 million in the third quarter of 1993, down from NIS 7 million in the corresponding period of 1992. However, the company's third-quarter profits were up 30 percent over second-quarter profits of NIS 4.6 million. Net profits for the first nine ...
Koor flies with Arkia. (Koor Industries, Arkia Israel Airlines)
Dec 03, 1993 ... Koor Industries. through its subsidiary Koor Tourist Industries, has paid NIS 33.93 million for 15 percent of the shares of Kanaf Arkia Airlines and Aviation Services. In return, Koor will place two directors on the board of directors of Kanaf Arkia. Kanaf Arkia is the parent ...
Israel included in travel packages. (US travel agencies)
Dec 03, 1993 ... Some 235 Western U.S. travel agencies who previously did not offer travel packages to Israel are now including Israel in their package tours, Israel's Consul for Tourism said. The recent warming of relations between Israel and the Vatican has increased efforts by the tour office ...
Dead Sea comes alive. (Kibbutz Ein Gedi guest house occupancy rates)
Dec 03, 1993 ... Kibbutz Ein Gedi has reported a record 93.5 percent occupancy rate in its guest houses in October and November. Occupancy at the kibbutz's tourist sites increased 23 percent in these two months; roughly 60,000 people visited the bathing area, compared to 40,000 in the corresponding ...
African connection. (Bophuthatswana-Israeli ties)
Dec 03, 1993; ... The concept of Israel as "a light unto the nations" has flickered on and off at different intervals during the country's 45 year history. During the fifties and sixties, Israel's founding Prime Minister David Ben-Gurion encouraged the leaders of African and Asian countries to visit the ...
Going with your friends. (Minnesota-Israel connections)
Dec 03, 1993; ... Minnesota and Israel may not seem a likely combination, but Minnesota Governor Arne H. Carlson begs to differ. Carlson headed the Minnesota trade mission which recently visited Israel to examine possible partnerships between Minnesotan and Israeli companies. When Carlson speaks of the ...
Jacob Maoz; Managing Director GAPIM. (Israeli artificial limb manufacturer)
Dec 03, 1993 ... Like many Israeli companies, artificial limbs manufacturer GAPIM was founded in order to meet a need created by the country's military experience. Managing Director Jacob Maoz, himself a disabled veteran of the Yom Kippur War, has brought a special insight to the company's operations since ...
The selling of Israel. (public relations)
Dec 10, 1993; ... Although Israel has had its share of eloquent political spokesmen in the form of great orators like Abba Eban and the late Yosef Tekoah, the country has never found as brilliant a way to communicate its economic message. But that could be changing. The Israeli government, ...
Banking profits soar.
Dec 10, 1993 ... Net profits of Israel's five largest banking groups totaled NIS 739.5 million in the first three quarters of 1993, compared to NIS 538.6 million in the corresponding period of 1992 - a 37.3 percent increase. Bank Leumi displaced Bank Hapoalim as the largest profit earner in this period ....
Multilingual Windows. (Microsoft Israel's Windows 3.1 operating environment)
Dec 10, 1993 ... Microsoft Israel has come out with a multilingual version of Windows. The new version 3.1 of the popular Windows operating environment cost about $1 million to develop and was released on the market last month. Users can write in Hebrew, English, French, Russian and Arabic simultaneously ....
G.T.E. bows out of cellular phone tender.
Dec 10, 1993 ... The U.S. G.T.E. corporation has announced it will withdraw from its partnership with Tadiran and Elbit in the tender to operate the second Israeli cellular phone network. G.T.E. made the decision after concluding the conditions of the tender were not worthwhile for foreign investors. ...
Robomatix automates GM. (General Motors purchases robotic system)
Dec 10, 1993 ... In a $3.5 million deal, Robomatix has sold General Motors (GM) a robotic system for cutting car parts. The laser-based system is flexible and can be adjusted for different uses. It obviates the need to prepare a number of different types of car roofs in advance; instead, the top can be cut ...
Phillip Morris reps in Israel. (representatives)
Dec 10, 1993 ... Senior representatives of the U.S.-based Phillip Morris cigarette company arrived in Israel recently to examine the possibility of setting up production plants in the country. They met with Industry and Trade Minister Micha ...
Economic activity up, unemployment down. (Israel)
Dec 10, 1993 ... Economic activity in Israel is continuing to expand, according to the Bank of Israel's "S" indicator. Preliminary figures released by the Bank show the "S", or State of the Economy indicator, rose 1.2 percent in October. This follows a 0.7 percent increase in September. The ...
Oil Refineries to China. (joint project with Jiujiang Petrochemical Complex)
Dec 10, 1993 ... Oil Refineries is considering teaming up with China's Jiujiang Petrochemical Complex to develop and construct an ethylene plant at the Jiujiang site, businessman Shaul Eisenberg and Wu Guan Zhog. governor of China's Jiangki province, said during the latter's visit to Israel in November. ...
Less risky for Swiss to bank in Israel.
Dec 10, 1993 ... The Central Bank of Switzerland has abolished a regulation requiring Swiss banks which give credit to or deposit in Israeli banks to set aside "risk insurance" of up to 30 percent of the deal. ...
Japanese want to underwrite Israeli shares. (Israeli companies traded in New York)
Dec 10, 1993 ... Japanese investment bankers are interested in underwriting share issues of Israeli companies traded in New York members of an Israeli financial delegation which recently visited Japan said Israel-Japan Chamber of Commerce President Elhanan Harel, who headed the delegation, said ...
Offshore financial services part of FEPZ? (Free Export Processing Zone)
Dec 10, 1993 ... Finance Minister Avraham Shochat has appointed a committee to explore the possibility of including offshore financial services in the Free Export Processing Zone (FEPZ). Bank of Israel objections precluded these services from being included in the legislation the Ministry of Finance sent ...
InterPharm net income up. (InterPharm Laboratories)
Dec 10, 1993 ... InterPharm Laboratories reported net income of $2.4 million or $0.38 per share in the third quarter of 1993, compared to $1.8 million or $0.28 per share in the corresponding period of last year - an increase of 34 percent. Revenues for the third quarter of 1993 were $13.2 million, compared ...
Pratt & Whitney - tech center agreement. (Center for Technologies of the Future agreement to develop advanced materials)
Dec 10, 1993 ... U. S.-based Pratt & Whitney and the Center for Technologies of the Future will shortly sign an agreement to jointly develop advanced materials for use in manufacturing jet engines. The materials, made of ceramic, will be designed to withstand very high temperatures. The Center ...
Israel, Palestinians reach agriculture pact.
Dec 10, 1993 ... Israel and the Palestinians have reached an agreement in principle on agricultural issues during the period of autonomy, the Ministry of Agriculture said. Both sides agreed to maintain Israel's current restrictions on the import of most fruits, vegetables and dairy products and to jointly ...
Japan to set up water purification plants in Gaza.
Dec 10, 1993 ... Japan will set up five water purification plants in Gaza in the coming year as part of a $ 100 million grant to the Palestinians. An additional plant will be built in Jordan. The Japanese will also fund research concerning the construction of a joint Israel-Jordan deep water port in the ...