Israel Business Today back issues from September 2000:
The Mighty Shekel.(Brief Article)
Sep 01, 2000 ... During the past month the Israeli shekel continued to gain strength against almost all of the world's currencies. The exchange rate against the US dollar is now in the MIS 4.00 to one dollar range and European currencies are just as low. The shekel has gained approximately 7 percent ...
American Sociological Association.(Brief Article)
Sep 01, 2000 ... People who regularly e-mail relatives, friends and neighbors are more likely to visit them for face to face meetings. An international study showed that e-mail is having a key influence on strengthening people's ties with relatives, friends and neighbors regardless of distance. The study ...
Hebrew University's School of Pharmacy.(Brief Article)
Sep 01, 2000 ... A method that can help shorten the time needed for discovering new computer designed drugs for use in the treatment of major diseases is being developed by an Israeli researcher, Professor Goldblum, at the Hebrew University's School of Pharmacy. In the past drug companies deciphered ...
Burglar and car alarms.(Brief Article)
Sep 01, 2000 ... Most businessmen, residents and visitors to Israel would be surprised to learn that Israel has strict anti-noise laws. The laws are divided into two categories, provisions against business noise and provisions against personal noise. Companies selling burglar and car alarms are the worst ...
Another Pressure Group Is Formed.(Brief Article)
Sep 01, 2000; ... Most people are not aware of it, but recently another pressure group was formed in Israel called New Awareness. This movement -- formed by the Israel Union of University Students is demanding that students, soldiers and other young people be given special mortgage benefits that will help ...
The Average Israeli Family Spends Much More Than It Earns.(Brief Article)
Sep 01, 2000 ... The average Israeli family in 1999 spent NIS 9,345 ($2,310) a month, almost one third more a month than the average gross monthly wage of NIS 6,625 ($1,656). The Central Bureau of Statistics (CBS) reporting the data, had a difficult time explaining the large difference between income and ...
IDF Lacks Money For Local Purchases.(Brief Article)
Sep 01, 2000 ... The coffers of the Israel Defense Force (IDF) are empty and senior defense officials are reporting that without an immediate infusion of NIS 650 million, they will have to cut back further on local purchases of food, clothes, shoes, and other necessary military equipment. Essential ...
Employment Contracts Preventing Competition invalid.(Brief Article)
Sep 01, 2000 ... In a precedent--setting decision, which will have a wide ripple effect on Israel's economy, the Israeli Supreme Court ruled contractual clauses in employment contracts which prevent employees from competing against former employers are detrimental to the public interest, and therefore ...
CEO Of Motorola Israel Tells Palestinian Businessmen Your Areas Need Peace And Quiet For Economic Development.(Brief Article)
Sep 01, 2000 ... Mr. Elisha Yanai CEO of Motorola Communications Israel reported his company is seeking to hire an additional 150 software engineers that he cannot find in Israel. He has rejected for the meantime the offer of Palestinian employment agencies to supply the engineers. There is a large number ...
Communication Ministry May Be Abolished.(Brief Article)
Sep 01, 2000 ... After signing regulations that further expanded competition in Israel's domestic telecommunication market, and sent Bezeq on its way to privatization, the Communication Minister agreed that his ministry is becoming increasingly irrelevant and may have to be abolished. If this ...
Less Unemployment Among Immigrants.(Brief Article)
Sep 01, 2000 ... Welcome news released by the Israeli Central Bureau of Statistics (ICBS) shows that the longer immigrants are in Israel the lower are their unemployment levels. As with anything new it appears that immigrants have to get to know Israel and after a year or so, find where they fit in. As ...
Agricultural Exports Fall.(Brief Article)
Sep 01, 2000 ... Israeli farmers are suffering not only because of the water crisis, but also from the exchange currency crisis. Most of Israel's agricultural exports go to Europe, and farmers are paid in euros. The strengthening of the shekel and the sharp decline of the Euro against the dollar has wiped ...
Bank Of Israel Reduces Prime Rate To 8.9 Percent.(Brief Article)
Sep 01, 2000 ... The Bank of Israel reduced the prime rate for September to 8.9 percent annually. The nominal yearly prime rate, to which banks add service charges of 2-3 percent, is at its lowest level since the early 1990's. During the past 21 months, the Bank of Israel has cut interest rates by 4.6 ...
Keeping High Tech Companies At Home.(Brief Article)
Sep 01, 2000 ... New Israeli high tech companies are registering in the United States in increasing numbers and established companies are also moving their corporate headquarters there. One of the main reasons for the Israeli company's flight to the United States is Israel's outdated tax structure and ...
No Budget Increase For Defense.(Brief Article)
Sep 01, 2000 ... The current Israeli Prime Minister Barak who is also Defense Minster has rejected a request from the Army Chief of Staff and Defense Ministry economists for an increase in next year's (2001) budget. The army has been forced to cut its budget for the last few years because of a lack of ...
The Jubilee Port Sinking.(Brief Article)
Sep 01, 2000 ... Plans to build Israel's third port on the Mediterranean coast -- the Jubilee Port - where privatization. competition and free market concepts would be the standard, received a major setback when the Transport Minister instructed port authorities to explore alternative options. Port ...
Histadrut Threatens Strike Over Pensions.(Brief Article)
Sep 01, 2000 ... The Histadrut Labor Union which recently won a major victory over the Finance Ministry when it threatened an open ended strike if certain of the Ben-Bassat proposals were passed into law (these were finally withdrawn by the Finance Minister) is flexing its new muscle again. This time the ...
Intel Does Good Things For Israel.(Brief Article)
Sep 01, 2000 ... Intel has three facilities in Israel including an R&D center in Haifa, a fab plant in Jerusalem and its new chip factory in Kiryat Gat. The company employs more than three thousand workers in Israel and is becoming one of Israel's top exporters. From the start of the year until the end of ...
Israel Becomes Britian's Largest Trading Partner In The Middle East And North Africa.(Brief Article)(Statistical Data Included)
Sep 01, 2000 ... During the first six months of 2000, bilateral Israel -- British trade exceeded 1.3 billion sterling. Trade between the two countries has increased by over 40 percent during the first half of this year. Israel is now the UK's largest trading partner in the Middle East and North Africa ....
The Average Gross Wage In Israel Jumped To NIS 7,058 ($1,765) Monthly.(Brief Article)
Sep 01, 2000 ... The Israel Central Bureau of Statistics (CBS) reported that the average gross wage in the country increased from June 1999 until June 2000 by 6.5 percent and totaled NIS 7,058 ($1,765) monthly. Average wages increased in all sectors of the economy. The increase in wages of 6.5 percent was ...
Israel's Health Ministry Rethinks Using Dutch Pricing System For Imported Drugs And Medicine.(Brief Article)
Sep 01, 2000 ... The Israeli Health Ministry is rethinking its intention to adopt the Dutch pricing system for the import of drugs and medicines. Under this system prices paid to importers would be set according to the average of the products price in England, France and Germany. This system is used in ...
First Tuesday Opens In Tel Aviv.(Brief Article)
Sep 01, 2000 ... The London based global business networking company that connects investors and entrepreneurs recently launched its debut in Tel Aviv Israel. First Tuesday -- as its name suggests, holds social - business events only on Tuesdays and using modern telecommunications, connects participants ...
U.S. And Israel Will Form Joint Technology Committee On Arms Exports.(Brief Article)
Sep 01, 2000 ... Israel's defense companies play an important role in our economy, as they do in many other industrial economies. The export of defense equipment containing Israel's latest technology has become a major export earner, and production lines for defense equipment are a major provider of ...
CBS Tunes In With Israeli Technology.(Brief Article)
Sep 01, 2000 ... Equipment manufactured by the Israeli company Tadiran Scopus to enhance video transmission and provide data streaming capability was used by the American broadcasting company CBS networks during its coverage of both the Republican and Democratic national conventions. Tadiran Scopus's new ...
Dor Ventures Raises $30 Million.(Brief Article)
Sep 01, 2000 ... Dor Ventures, a new venture capital fund established by Arie Rosenfeld, former CEO of Scitex Israel, has raised $30 million from local and foreign investors. The fund intends to invest in companies that specialize in the electronic delivery of digital content, imaging and digital printing ...
Five Israeli Start-Ups To Watch.(Brief Article)
Sep 01, 2000 ... Red Herring, the most influential high tech and venture capital publication in the United States, has picked five Israeli start-ups as companies that have the potential to revolutionize their respective fields. The five, Airslide, Celltick, Cyota.com, Global Commerce Zone and XO Soft are ...
Jordan's Professional Unions Told To Stop Boycotting Israel.(Brief Article)
Sep 01, 2000 ... The first step by any Arab country towards true peace and normalization of ties with Israel was taken by the Jordanian Prime Minister when he recently called on his country's professional unions to stop boycotting Israel. Israeli companies that have shown interest in investing in Jordan ...
Trains May Be Coming To Tel Aviv.(Brief Article)
Sep 01, 2000 ... Israel's Transport Ministry announced that it will shortly be putting out a tender for a passenger -- freight train line linking Tel Aviv, Petach Tikva and Kfar Sava. The Ministry is planning the rail link as a government -- private investor project. The ministry will fund the track and ...
Israeli VC Funds Also Leaving.(going to US)(Brief Article)
Sep 01, 2000 ... Israeli venture capital funds are starting to follow Israeli high tech start-ups to the US, both to register and to establish their fund management operations there. A group of Israeli managed funds recently raised over $150 million in America and except for their Israeli names will have ...
Precise Opens US R&D Center.(Precise Software Solutions)(Brief Article)
Sep 01, 2000 ... Precise Software Solutions, an Israeli high tech provider of performance management software solutions for enterprise and e-business infrastructure opened a new research and development (R&D) center in Denver, Colorado. The Israeli company chose to go the opposite way of most high-tech ...
Of-Kor Gets A Reprieve.(Gets loan)(Brief Article)
Sep 01, 2000 ... One of the major employers in Israel's southern city of Sderot, Of-Kor (which closed down putting 300 local employees out of work) received a joint loan of $2 million from the State and Histadrut allowing the company to reopen. Of-Kor is owned by 24 Israeli kibbutzim that use the poultry ...
Gad Distribution Company Brings The Wall St. Journal To Your Home.(Brief Article)
Sep 01, 2000 ... For the first time in Israel, the Wall St. Journal's European edition is available for home delivery. Gad Distribution Company signed an agreement with the journal that will double the number of outlets in Israel that sell the newspaper, and gives subscribers the option of office or home ...
Deutsche Telekom Orders $30 Million Of Broadband Equipment From Israeli Company.(Brief Article)
Sep 01, 2000 ... Seabridge Ltd., an Israeli company that is a subsidiary of Siemens, signed a four year $30 million contract with German telecommunication giant Deutsche Telekom for the supply of broadband telecommunication switches. These smart switches will transmit digital signals at high bandwidths via ...
Israel's Merhav Group Wins A Big Contract In Turkmenistan.(Gas utility construction)(Brief Article)
Sep 01, 2000 ... The Merhav Group working together with Turkish partners recently signed a $150 million contract with the Turkmenistan government to modernize that country's natural gas industry. Turkish companies have established close relations with Turkmenistan, and many of these companies are also ...
Free On-Line Lotto.(Brief Article)
Sep 01, 2000 ... The Israeli Internet company Walla and British NetLottery opened a new lotto web site that will give away up to $7.5 million of prizes each week. Anyone over 16 years old will be able to register at the lotto site, and play once a day. There is no charge for registering or for choosing ...
International Pharmaceutical Companies Take Israeli Health Minstry To Court.(Brief Article)
Sep 01, 2000 ... Leading international pharmaceutical companies have taken legal action against the Israeli Health Ministry to stop it from importing into Israel any of their products that are not sold directly to the Ministry by the companies or their agents. The Health Ministry is trying to reduce the ...
CEO Of Teva Pharmaceutical Not Gulty.(Brief Article)
Sep 01, 2000 ... The Supreme Court of Israel overturned a lower court ruling and acquitted Eli Hurvitz, the CEO of Teva Pharmaceutical Industries of income tax evasion with criminal intent. The court also acquitted executives from Promedico, a company set up by Teva to distribute foreign drug companies' ...
British Gas Leaves Israel For Gaza.(Brief Article)
Sep 01, 2000 ... After helping Israeli companies find large deposits of natural gas off the coast of Ashkelon in southern Israel, British Gas (BG) believes it will be able to do the same for Palestinian companies off the coast of Gaza. The British company has decided to direct its exploration efforts in ...
German Company Wins $200 Million Order To Build New Wafer Fabrication Plant In Israel.(Brief Article)
Sep 01, 2000 ... Tower Semiconductor Inc. Israel selected the German Company Jenoptik Technology Group to build its new wafer fabrication plant. Construction of the plant is expected to begin by the end of this year and production of 0.1 8-micron chips at the finished facility is slated to start by early ...
Radio Shack Coming To Israel.(Brief Article)
Sep 01, 2000 ... Radio Shack, the largest consumer electronics retail network in America has heard the message that Israelis love consumer electronic products. The American chain store has thousands of shops all over the world, but until now has neglected the Israeli market. This is all set to change with ...
Singtel Intends To Increase Its Investments in Israel.(Brief Article)
Sep 01, 2000 ... Singapore Telecommunications (Singtel), which has already invested over $10 million in eight Israeli companies in the internet and wireless industry, is planning to step up its pace of investments in Israeli high tech companies. Lucas Chow, Singtel's vice president, who led a delegation of ...
British Company invests $10 Million In Israel Investment Company.(Brief Article)
Sep 01, 2000 ... eVestment, a British public company with a market value of over 200 million pounds sterling invested $10 million in 4hightech. The Israeli investment company that only opened for business in April this year, already has a number of Israeli (high tech) clients which it is grooming for entry ...
Links With Israel's Leading High Tech marketing Agency.(Brief Article)
Sep 01, 2000 ... Rainier, the technology marketing communications services agency from the USA, announced the signing of an exclusive strategic alliance with Doran Communications, one of the leading high tech public relations and advertising agencies in Israel. "This alliance is the latest step in our ...
London Hotels Go For Long Term Lease Deal.(Brief Article)
Sep 01, 2000 ... London Hotels Ltd. agreed to lease its London Sherlock Holmes Hotel to Israel's Red Sea Group. The Israeli company owns hotels in Israel and is in the process of expanding into the tourist industry in Europe. The long term lease for which the English company received $14.5 million was ...
Nestle Contributes $14.6 Million To Swiss Forced Labor Settlement Account.(Brief Article)
Sep 01, 2000 ... The Swiss food conglomerate Nestle, active in almost every country in the world including Israel, agreed to recognize its use of Jewish slave laborers during the Nazi regime. The Swiss company will make a restitution payment of $14.6 million. The money will go into a $1.25 billion fund for ...
Venezuelan Company Purchases Additional Wireless Communication Equipment.(Brief Article)
Sep 01, 2000 ... Telcel Cellular, Venezuela's largest cellular operator signed a contract with Nexus Telecom Israel for the purchase of the Israeli company's vehicle locator system. This contract brings Telcel's purchases for the year of wireless communication equipment from Nexus to $12 million. Nexus is ...
Applied Material Expands Israel Plant.(Brief Article)
Sep 01, 2000 ... Applied Materials reported that due to increased worldwide demand for semiconductors, microchips and wafer fabrication equipment, it is expanding its facilities in Israel. The company will invest $15 million to build a six-story building and ...
Israel Discount Bank's Troubles Brings Accelerated Effort To Privatize.(Brief Article)
Sep 01, 2000 ... The government company in charge of the sale of Israeli banks, M.I. Holdings, has accelerated its efforts to find a buyer for Israel Discount Bank. Both of the groups originally interested in buying control of the bank have recently opted out. No other investor meeting government ...
A Word About Savings Accounts And Stocks.(Brief Article)
Sep 01, 2000 ... If you are worried about getting your money back tomorrow, savings accounts are undoubtedly safe and stocks are horribly risky. But what if you do not need your money for 20 years? In that case, the tables are turned, because the risk involved is entirely different. If you leave your money ...
Chase Manhattan Bank Loves Israel Bonds.(Brief Article)
Sep 01, 2000 ... Chase Manhattan Bank has long served as the financial agent in the United States for Israel bonds. The bank receives approximately $4 million a year from the organization for administration fees, but it turns out that these fees are not where the bank is making its only profit from Israel ...
Union Bank's Second Quarter Net Income Up 100%.(Brief Article)
Sep 01, 2000 ... Union Bank of Israel (Bank Igud) reported second quarter net income increased 100 percent to NIS 16 million from NIS 8 million for the same period last year. This year's big increase in profit for the bank is mostly due to increased ...
Israel's Largest Banks Report Increased Second Quarter Profits.(Brief Article)
Sep 01, 2000 ... Bank Hapoalim, Israel's largest bank and second placed Bank Leumi both reported big jumps in second quarter profits. Bank Hapoalim earned NIS 361 million the quarter and Bank Leumi NIS 338 million. For the first half of the year Bank Hapoalim earned NIS 796 million (almost $200 million) ...
Interest Rates Fall Resulting In Lower Profit Margins For Israeli Banks.(Brief Article)
Sep 01, 2000 ... In August 2000, average interest charged on non-linked loans to the public by Israeli banks stood at 12.50 percent yearly. The interest rate that most banks charge clients on overdrafts was 15.50 yearly. Many Israelis live on overdraft and should realize the very high rates they are paying ...
Foreign Currency Reserves Total $22 Billion.(Brief Article)
Sep 01, 2000 ... At the end of August 2000, Israel's foreign currency reserves totaled $22 billion. This amount is a slight increase of $9 million over July. The July-August increase is considered unusual because the summer months are usually months of large depletions in the country's foreign currency ...
Bell South May Join With A Israeli Company To Compete In The Local Communication Market.(Brief Article)
Sep 01, 2000 ... Bell South -- the Wall St. listed American communication giant is considering entering into a partnership with the Israeli company Eurocom to compete with Israel's national telephone company -- Bezeq. The local telephone market in Israel will soon be privatized and companies with leading ...
Two Israeli Companies Included In Fortune's Fastest Growing 100 Companies.(Brief Article)
Sep 01, 2000 ... Fortune Magazine listed Mercury Interactive as the world's 13th fastest growing company and Comverse Technology as number 51. Both Israeli companies listed on the Nasdaq Exchange have shown investors large returns over the last three years (one of Fortune's yardsticks used to judge a ...
Tower Semiconductor Receives Another $75 Million Commitment For The Plant It Will Build in Israel.(Brief Article)
Sep 01, 2000 ... Alliance Semiconductor Corporation joined another Nasdaq listed company, Sandisk Corporation in announcing that it too would invest $75 million in Tower Semiconductor Israel. The Israeli company is seeking to raise $1.5 billion to build a new micron semiconductor chip plant in Israel. The ...
Taro Pharmaceuticals Planning A Bond Issue.(Brief Article)
Sep 01, 2000 ... Taro Pharmaceutical industries, a fast growing Israeli generic company has watched its' Nasdaq listed share price shoot up over the past year at a fast pace. The share price (now in the $20 a share range) may be set for an additional increase. The company announced that it will shortly ...
Applied Micro Circuits Buys MMC Networks For $4.5 Billion.(Brief Article)
Sep 01, 2000 ... Applied Micro Circuits announced that it purchased MMC Networks for $4.5 billion in stock. The Israeli founder of MMC Networks will receive approximately $520 million in Applied Micro shares and become one of the largest single shareholders in the company. Applied Micro listed on the ...
Comverse On The Verge Of Buying Israeli Start-Up Company.(Brief Article)(Statistical Data Included)
Sep 01, 2000 ... Comverse the highflying Israeli Nasdaq listed company is expected to purchase Speedwise, an Israeli start-up company that develops applications for high-speed internet access, downloading web content and cellular surfing. Comverse already owns 10 percent of Speedwise, which it purchased in ...
Koor industries Buying Back Shares.(Brief Article)
Sep 01, 2000 ... Koor Industries, whose shares are traded on the Tel Aviv Stock Exchange and on the N.Y. Stock Exchange, announced some time ago that it had established a $50 million fund to buy back outstanding company shares on both exchanges. The company called its shares undervalued and expected the ...
Teva Shares Rise On Receipt Of FDA Approval For Two Drugs.(Brief Article)
Sep 01, 2000 ... Teva Pharmaceutical Industries recently received approval from the American Food and Drug Administration (FDA) to sell two new drugs on the American market. The drugs, Loratadine used for allergies and Enalapril Maleate used to treat hypertension are both generic versions of large American ...
Foreign Investors Favorite Shares.(Tel Aviv Stock Exchange)(Brief Article)
Sep 01, 2000 ... Foreign investors in TASE listed shares put 55 percent of their cash into the shares of three companies. Bank Hapoalim, Bank Leumi and Bezeq are the favorite shares of foreign investors. Foreign investors hold approximately $3 billion worth of TASE assets and this amount has slowly been ...
Israeli TASE Listed Company Raises 38 Million Euros On Frankfurt's Neuer Markt.(Brief Article)
Sep 01, 2000 ... Electronics Line, an Israeli high tech company that manufactures electronic security systems and wireless alarms sold 2.3 million of its shares on the Frankfurt Neuer Markt raising 38 million Euros. The company shares are also listed on the Tel Aviv stock Exchange (TASE) and the TASE price ...
IBT Stock Portfolio.(Brief Article)
Sep 01, 2000 ... Just as the shares held in the IBT stock portfolio seemed to be perking up, the Nasdaq Stock Exchange - where all of the shares are traded - was hit by a strong wave of selling. As usual, high tech shares bore the brunt of the selling that knocked the Nasdaq index below the 4,000 level for ...