Israel Business Today back issues from February 1999:
Israeli Banks Have Something Unusual To Offer.
Feb 01, 1999 ... For people who are wondering where to put the inheritance they just received or who have won the sweepstakes and do not know what to do with their winnings, Israeli banks have an offer that looks interesting for those looking for a risk free investment. Mortgage banks in Israel led by the ...
World tourism.
Feb 01, 1999 ... * World tourism rose by 2.4 percent in 1998 and totaled 625 million tourists. These tourists spent $445 billion in countries throughout the world. The world tourist industry continued growing despite the world financial crisis that hit the outgoing tourist industry hard in Pacific Rim ...
The international telecommunications.
Feb 01, 1999 ... * If you are making a telephone call to the West Bank or Gaza, don't forget to use the long distance code 970 before the phone number. The international telecommunications union has announced that (over Israeli objections) it has agreed to give ...
West End London Theater productions.
Feb 01, 1999 ... * West End London Theater productions are so popular with Israeli tourists going to England that the big British comedy hit "run for your wife" was translated into Hebrew and is being performed in Tel Aviv. This play which ran for nine years in London (3600 performances) is coming to ...
Mr. Lewis Maltby.
Feb 01, 1999 ... * Mr. Lewis Maltby, director of the national employment rights bureau in Princeton New Jersey USA reported that studies show that graphology analysis used in personnel selection is arbitrary, and unfair. He thinks the practice should not be used as a hiring tool. There are many experts in ...
Yeda Research and Development Company.
Feb 01, 1999 ... * Unfortunately for King Hussein of Jordan, the Israel Weitzmann Institute's immunology department, working together with Yeda Research and Development company, have not yet commercialized the institute's discovery on the importance of CXCR4 receptors in bone marrow transplants. A team, of ...
European Union Is Worried About Money, Israel About Safety.
Feb 01, 1999 ... The European Union (EU) office issued a rare rebuke to the Palestinian Authority (PA) and warned that it is considering freezing financial assistance to the organization if PA officials continue to stonewall on information about the disappearance of millions of dollars in EU donations ....
Steel Prices Continue To Fall.
Feb 01, 1999 ... During 1998 the price of steel in Israel fell by 70 percent. Companies that make up Israel's steel industry including United Steel Mills (a Koor subsidiary) and Yehuda steel Ltd. (a Discount Investment subsidiary), two of the largest companies in the sector have announced losses for the ...
Economic Personalities Take Time Out From The World Economic Forum In Davos, Switzerland To Review Israel's Economic Performance.
Feb 01, 1999 ... Mr. Stanley Fischer who is considered to be among the world's most prominent economists and who is the International Monetary Fund's deputy managing director took time out from the Davos Switzerland world economic forum to talk about Israel's macro-economic performance. Mr. Fischer heaped ...
Israel's Software Exports At Record Highs.
Feb 01, 1999 ... Israel's exports of software increased by 50 percent during 1998 and reached a new record high of $1.5 billion. This growth rate puts the software sector into first place as the fastest growing of all of Israel's export industries. The chairman of the Israel association of software houses ...
Prime Interest Rate Stays At 13.5 Percent.
Feb 01, 1999 ... The Governor of the Bank of Israel, Mr Jacob Frenkel has left the prime rate of interest (13.5 percent yearly) unchanged for February 1999. This is the fourth month in a row that the prime rate has remained at this level. Mr. Frenkel is using high real interest rates to keep the shekel ...
Greentech For Ecological Problems.
Feb 01, 1999 ... Two new green parties are running for seats in the Israel Knesset elections that will be held in May 1999. Although they are badly needed in Israel, it is not sure if party representatives will be elected. The idea that businessmen can solve ecological problems quicker and more efficiently ...
Health Ministry Opts For The Middle.(Israel's Health Ministry on advertising claims)
Feb 01, 1999 ... The Health Ministry acknowledging its inability to control advertising claims concerning therapeutic benefits being made by foodstuffs, herbal products, various pill manufacturers and importers, has recommended to the Knesset that the law committee establish a new product category between ...
Peres Wants To Help Develop Jordan's Economy.(Shimon Peres)
Feb 01, 1999 ... Declaring his Palestinian fund a success, Shimon Peres wants to start a similar fund that would make investments in joint Israeli -- Jordanian projects. Mr. Peres hopes to raise the capital for this fund from the international business community. Almost all of the $60 million that he ...
Wertheimer Wants To Show The Palestinians How To High Tech.(Stef Wertheimer)
Feb 01, 1999 ... Mr. Stef Wertheimer is the chairman of Iscar, one of Israel's most profitable high tech businesses. He built the company from a small metal workshop to a world class exporter of high tech metal products. He also built Tefen City, an Israeli high tech city in the Galilee. Mr. Wertheimer, a ...
Agricultural Land Rezoned For Building.
Feb 01, 1999 ... If final plans are approved by the Israel Lands Administration's (ILA) governing council, more farmers will become partners with building companies. On farming land, under current zoning laws, farmers are currently permitted to build a maximum of three housing units per agricultural plot ....
New Pension Plan For State Employees.
Feb 01, 1999 ... Four-year-old negotiations between the State Employment Division and the Histadrut National Labor federation are about to come to a successful end. The sides are on the verge of signing a new agreement that will change the State employees' pension system from the present non-contributory ...
US Economic Aid To Israel Drops To Below $1 Billion A Year.
Feb 01, 1999 ... American economic aid to Israel was reduced to $930 million for fiscal year 2000. The American fiscal budget for 2000 (which starts in October 1999) also includes $1.92 billion for military assistance to Israel. The reduction in American economic aid is in accordance with an agreement ...
Israel Records 1998 $2.8 Billion Trade Surplus With The United States.
Feb 01, 1999 ... During 1998 Israel improved its trade surplus with the United States by more than $1 billion. Exports to the US totaled $8.2 billion and imports from the US totaled $5.4 billion, leaving a surplus of $2.8 billion for the year. The US market accounted for almost 40 percent of Israel's 1998 ...
Cyprus - Israeli Relations Warming Up.
Feb 01, 1999 ... In spite of the mishap in relations between Cyprus and Israel - the Cypriot commercial counselor in Israel, Ms. Eleni Pitsillidou, is continuing her efforts to enhance business and bilateral relations between the two countries. Her endeavors are bearing results as trade in 1998 (excluding ...
More Israelis Travelling Abroad.
Feb 01, 1999 ... During 1998, the number of Israelis travelling abroad increased by 8 percent and totaled almost three million departures. As late as 1986 departures from Israel totaled only 700,000 a year. The vast majority of those leaving the country were tourists (76 percent) with only 13 percent ...
Israeli Venture Capital Funds Raised $865 Million In 1998.
Feb 01, 1999 ... Local Israeli Venture Capital Funds (VCF) raised $865 million during 1998. Of this amount, $675 million was raised from American investors. Local Israeli venture capital funds, like their American based counterparts, placed most of their investments in Israeli high tech and biotechnology ...
New Products Boost Motorola Israel Sales.
Feb 01, 1999 ... Motorola Israel with the help of newly developed products increased its sales to local and export markets during 1998. For the fiscal year the company rang up record sales and exports that boosted total company revenue above the $1 billion mark for the first time in the Israeli ...
Radisson Group Sells Moriah Hotel Chain.
Feb 01, 1999 ... The Radisson Group (Ampal - American - Israel Corporation, Amot Investments, and Gemol Provident Fund) sold by tender its holding in the Moriah chain of hotels in Israel. The Moriah is one of Israel's largest hotel chains. It operates hotels in all of the major tourist destinations in ...
Israelis Like To Stay In Hotels.
Feb 01, 1999 ... During 1998 Israel's hotels continued to host fewer foreign guests and more Israelis. According to the Central Bureau of Statistics, this was the third year in succession in which the number of foreign guests dropped in comparison to the previous year. In 1998 ...
Haifa Hilton.
Feb 01, 1999 ... Matam Development Company of Haifa recently sold 50 percent of its shares for NIS 250 million. The company plans on using some of this amount to build a Hilton hotel in Haifa. The Haifa Hilton will ...
IBM Israel To Acquire Full Ownership Of Softel Software.
Feb 01, 1999 ... IBM Israel has decided to buy all of the shares of Softel Software Technologies Ltd. that it does not already own. Softel is an Israeli company that develops software and also converts English software programs into Hebrew. The majority of Softel ...
Diamond Sales Increase In January 1999.
Feb 01, 1999 ... Diamonds are one of Israel's main export industries During 1998, the economic slowdown in the Far East rocked the Israeli industry and caused some diamond houses and workshops to close. Many diamond exporters shifted a large part of their sales from Asia to the United States and Europe. A ...
Israeli Chosen As One Of The Global Business Leaders For Tomorrow.
Feb 01, 1999 ... The world economic forum meeting at Davos Switzerland chose Arik Vardi an Israeli and the founder of Mirabilis, the company that America-On-Line bought for $287 million, as one of the 1999 global business leaders for tomorrow. Vardi who is 28 years old said that the award was a testimony ...
Overseas Assets Safe For Now.
Feb 01, 1999 ... With the tax reform plan that former Finance Minister Ya'akov Ne'eman wanted instituted frozen, the Israeli treasury has also decided to freeze the new regulation which would have required Israeli residents with property abroad to file tax returns for 1998. Under one part of Mr. Ne'eman's ...
Minimum Wage In Israel Increased To NIS 2,629 ($650) Monthly.
Feb 01, 1999 ... The minimum gross wage in Israel was increased to NIS 2629 ($650) for an 8 hour day effective January 1, 1999. This increase is expected to cause wage increases in a number of low tech and service industries like sewing workshop, some textile factories, and the hotel industry. With non-and ...
Changes Take Effect In January 1999 For The Calculation Of The Consumer Price Index In Israel.
Feb 01, 1999 ... Compared to previous years, the Central Bureau of Statistics is making two major changes in the way the Israeli 1999 Consumer Price Index (CPI) is calculated. The new system was used for the first time to calculate the January CPI. The first change is in the weight accorded to each of the ...
Industrial Companies May Have No Place To Dispose Of Their Waste.
Feb 01, 1999 ... The only dangerous substances waste dump in Israel may shortly be required to close. The Ramat Hovav Dump in the Negev does not meet internationally accepted safety standards and continues to present a grave environmental danger to the surrounding area. This is the only dangerous substance ...
Business Is Business.(international trade & political concessions in Middle East )
Feb 01, 1999 ... The Egyptian Government has continuously linked improved economic relations with Israel to our country making political concessions that meet with their approval. Consequently economic relations between the two countries have not developed. Exchanges of business and trade delegations have ...
Wang Global Works With Microsoft in Developing Bank Discount Self Service Computerized Banking Smart Stations.
Feb 01, 1999 ... Wang Global's Israeli branch office was awarded the distinction of being named as a Microsoft best solution provider. The award was given for developing Israel Discount Bank's self-service computerized banking smart stations. These stations operate on Windows NT WS Hebrew version, based on ...
Israeli Investment Companies Raising Money For Foreign Companies.
Feb 01, 1999 ... Israeli venture capital firms have become so successful in raising money for local companies that they are getting increasing amounts of requests to lead or participate in placements floats for foreign companies. Investment banking could, if the trend continues, become a growth industry in ...
Upgrade Of Turkish F-4 Jets May Bring Additional Military Orders From Turkey.
Feb 01, 1999 ... Israel Aircraft Industries (IAI), the main contractor for upgrading 54 Turkish F-4 fighter jets has been progressing so quickly on the $630 million contract, that delivery of the planes to Turkey is now scheduled to take place two months ahead of contract date. Turkish military experts are ...
Venture Capitalists Select First Access As An Investor's Choice.
Feb 01, 1999 ... First Access, a global leader and provider of Enterprise Vicinity Authentication Solutions, was among three companies that won an "Investor's Choice" award at David Coursey's Showcase '99. First Access was selected as an "Investor's Choice" winner by a panel of venture capitalists for its ...
Poalim Investments Hopes To Raise $90 Million In Private Placement.
Feb 01, 1999 ... Poalim Investments wants to sell at least 25 percent of its fully owned subsidiary Poalim Electronics Communications to private investors for $90 million. Poalim Electronic Communications needs large amounts of capital for the investments it is making in local communications companies that ...
Joint Venture Will Gas You Up.
Feb 01, 1999 ... The Alon Fuel Company and Segafredo Coffee Company agreed to jointly invest $7.5 million to open 25 cafes in gas stations all over Israel. The cafes will offer fast food and coffee to drivers while their cars are being gassed up. Like the gas stations, the cafes will be opened 24 hours ...
Cyclone Get $5 Million Order From Lockheed Martin.
Feb 01, 1999 ... Cyclone Aviation Company is long time a Lockheed Martin supplier. The company produces a wide range of aircraft parts for both civilian and military aircraft. Lockheed Martin is interested in having Cyclone Supply more of the thousands of components and parts that it needs to build its ...
100 TASE Companies Do Not Meet New Regulations.
Feb 01, 1999 ... In order to further regulate company's shares trading on the Tel Aviv Stock Exchange, the Knesset Finance Committee instituted some new regulations that will come into effect starting December 1, 1999. Among the new regulations, the public must hold at least $400,000 of shares or not less ...
Bezeq Employees Agree To Give Up The Company's Last Monopoly Service.
Feb 01, 1999 ... The Government has finally overcome Bezeq Employees unwillingness to full and open competition in the local telecommunication market. As State owned Bezeq lost one monopolistic service after another, company profits and employment have been steadily declining, In the past these ...
Discount Investments Invests in United Pan-European Communication NV.
Feb 01, 1999 ... Discount Investments Ltd. decided to exercise half of its option to buy shares in a Dutch telecommunications company, United Pan European Communication NV (UPC). Last year Discount Investments received the option from the Dutch company when it extended a $90 million loan to UPC. The option ...
American Company Buys Netect.
Feb 01, 1999 ... Netect a Tel Aviv stock exchange (TASE) listed company announced that its major shareholder Capital (VSP) Holdings has agreed to sell its majority stake in the Israel software developer to Nasdaq listed Blindview Development. Netect was established in 1996 and develops software that checks ...
Koor Makes A Good Buy.
Feb 01, 1999 ... By exercising an option that it held, Koor Industries increased its stake in ECI Telecom to 25 percent of the company's outstanding shares. Koor paid Clal Electronics ...
Novell's Chief Technology Officer Searching For Israeli Technology.
Feb 01, 1999 ... Mr. Glenn Richart, Chief Technology Officer of Utah based Novell, is a man who knows promising technology. He was, the innovator who developed "Suranet", the world's first Internet service provider while he was the director of the computer science center at the University of Maryland ....
Boeing Wants Long-Term Orders From EL AL.
Feb 01, 1999 ... Boeing Aircraft Company sees EL AL as an important and promising customer for its new series of 767 and 777 passenger airplanes. Boeing has been losing world market share to its European Airbus competitor and in order to hold and regain sales, is going all out in its presentation of its ...
Pratt And Whitney Takes First Place.
Feb 01, 1999 ... By increasing its purchases from various domestic Israeli companies during 1998 Pratt & Whitney took the crown for being the biggest local foreign Corporate buyer of Israeli products. During 1998 the American company purchased $200 million locally. Its main suppliers were local ...
Pearson Education Publishers Goes for Versabook Electronic Content Format.
Feb 01, 1999 ... Pearson Education Company is the leading publisher and wholesaler of educational books in the world. It is a company that is searching the world for ways to compete with companies like Amazon who are using technology to make inroads into Pearson's traditional business. Pearson, acting on a ...
Hewlett Packard will Commercialize Israeli Technology In Country.
Feb 01, 1999 ... Hewlett Packard (HP) is organizing a group of company research and development experts who will visit Israel to examine opportunities to expand domestic activities here. HP has a subsidiary in Tel Aviv that succeeded in changing the parent company's policy of transferring technology ...
GE Medical Will Open A Global Center Of Excellence In Israel.
Feb 01, 1999 ... GE Medical Systems, as part of its plan to increase activities in Israel will open a global center for medical imaging excellence in Tel Aviv. The center will specialize in the field of medical imaging for minimally invasive surgery. Currently GE Medical Systems is ranked as the third ...
Cable & Wireless Opens In Jerusalem.
Feb 01, 1999 ... The British telecommunication company Cable & Wireless (C&W), showing its increasing interest in the Israeli telecommunications industry, opened a local office in Jerusalem. The parent office in London will be sending a representative to work with its current appointee to Bezeq's board of ...
Xpert Brings The "Smart Key" From Datakey To Israel.
Feb 01, 1999 ... The American encryption company Datakey has signed a sales and representation agreement with Israeli company Xpert Trusted systems. Xpert, specializing in information security, will market in Israel Datakey's "smart key", a smart card in the shape of a key. Datakey's product is the first ...
South Korean Premier Arrives In Israel To Sign An Agreement For The Protection Of Foreign Investments.
Feb 01, 1999 ... Companies from Korea and Israel welcomed the visit of the South Korean Prime Minister to Israel. This first ever visit by a Korean Prime Minister is to lead to the signing of an agreement giving mutual protection to companies investing in ...
Cisco's Chairman Visits Israel.
Feb 01, 1999 ... The chairman of the board of directors of Cisco (the largest network hardware manufacturer in the world), Mr. John Morgridge paid a visit to Israel in February 1999 to get a first hand close up view of business opportunities for his company in Israel. Cisco is a rising power in Internet ...
Medison Korea Places $1 Million Order.
Feb 01, 1999 ... Medison Korea, a company that produces ultrasound diagnostic medical products has signed an agreement to integrate Israeli ultrasound training simulation systems into its equipment. MedSim, an Israeli company that produced simulation technology products for the aviation, ...
A Mountain of Short Term Shekel Deposits is a Vote of Confidence in the Currency.
Feb 01, 1999 ... As usual, in business as in politics the public knows best Some Israeli economists have been talking about a renewed world currency crisis putting renewed pressure on the shekel. This could lead to a rapid devaluation of the shekel and increased inflation in Israel as it did during the ...
Israeli Banks Will Increase Minimum Capital Ratio.
Feb 01, 1999 ... In the near future all of Israel's banks will increase their minimum capital ratio from 8 percent to 9 percent. A bank's capital ratio is the ratio between its equity and its outstanding loans. The higher the ratio, the stronger the bank financially. Most US and Western European banks have ...
Brazilian Bank Opens Representative Office In Israel.
Feb 01, 1999 ... Multi Commercial Bank of San-Paulo, Brazil opened a representative office in Israel. Multi Commercial is owned by the Safdie family of Sao-Paulo who is considered to be the major banking rival of the Brazilian based Safra family. The Safra Group controls First International Bank of Israel ...
Bank Hapoalim Raises $150 Million In London.
Feb 01, 1999 ... Bank Hapoalim as part of its strategic plan to increase its capital by $1.5 billion, sold bonds for $150 million on the London Stock Exchange. The bonds were sold at a six-month floating rate of ...
New Hapoalim Mutual Fund Will Invest Exclusively In Communications And Internet Stocks.
Feb 01, 1999 ... Bank Hapoalim is starting a new mutual fund called P.K.N. Communications and Internet. This new fund is the bank's answer to customers' requests for Internet exposure. The fund will invest up to 90 percent of its assets in Internet related stocks traded on the Tel Aviv Stock Exchange and ...
Foreign Currency Reserves Down In January 1999.
Feb 01, 1999 ... For the first time in the last seven months, foreign currency reserves held by the Bank of Israel dropped in January 1999. The reduction of $100 million in reserves was not considered substantial, as the bank at the end of January held $22.5 billion. Observers and investors do not think ...
The State Does Not Want Only One Bidder For Its Share Of Israel Discount Bank.
Feb 01, 1999 ... The Eliahu Group, made up of four Israeli companies and a British investor, are about to remain as the only group of investors who are still interested in buying the State's controlling share of Israel Discount Bank. The victory may prove an empty one, as the State is reluctant to sell its ...
SHEKEL FOREIGN EXCHANGE RATES.
Feb 01, 1999 ... <Pre>SHEKEL FOREIGN EXCHANGE RATESDec., Dec., Feb., 29 29 191997 1998 1999 US $ 3.5340 4.1750 4.0690 DM 1.9923 2.4827 2.3366 P.ST.5.8965 ...