ICEN articles from August 1990

ICEN archives from August 1990

Japanese deal for D.P.A. (D.P.A. Technology Systems Ltd.)
August 1, 1990... Japanese Deal for D.P.A. D.P.A. Technology Systems of Tel Aviv has signed an agreement with the Japanese Nippon Sheet Glass company to supply automatic test equipment for optical-disks control. The Japanese company, one of the largest...

$50 million U.S. Telrad order. (Telrad Telecommunications Electronic Industries)
August 1, 1990... $50 Million U.S. Telrad Order Telrad Telecommunication and Electronic Industries, a Koor Industries subsidiary, has signed a five-year, $50-million export deal to supply public-switching systems to a U.S. company. Telrad's management has not...

Elite signs Pepsico. (Elite Industries to manufacture snack foods)
August 1, 1990... Elite Signs Pepsico Elite Industries has signed an agreement with U.S. Pepsico International according to which Elite will manufacture snack foods using American technology and know-how. Following the agreement, Elite will set up a new...

Dutch firm invests in Indigo. (HCS Technology N.V.; Indigo Software Ltd.)
August 1, 1990... Dutch Firm Invests in Indigo The Indigo imaging systems firm, established three years ago in Rehovot's Kiryat Weizmann science park, has signed a $10 million investment agreement with the Dutch HCS Technologies firm. An agreement was also...

Elbit-General Dynamics deal.
August 1, 1990... Elbit-General Dynamics Deal Elbit Computers has signed another large deal with the U.S. General Dynamics firm. Elbit will supply the U.S. firm with ordinance-management systems for the F-16 aircraft. The deal is worth $20 million and the...

Raytheon ABM deal. (two-tier ballistic missile defense system)
August 1, 1990... Raytheon ABM Deal An agreement in principal has been reached between Israel Aircraft Industries and the U.S. Raytheon Corporation for development of a two-tier ballistic missile defense system involving the Arrow and Patriot missiles. The...

Waterless plants. (plants that flourish in arid conditions) (Agriculture)
August 1, 1990... Waterless Plants Plants cultivated at the Ben Gurion University in the Negev may save tens of millions of cubic meters of water a year, according to researchers. The plants have even been exported as waterless bases for floral arrangements....

Japanese cotton boycott. (Japan maintaining unofficial boycott of Israeli cotton to avoid antagonizing Arab countries) (Agriculture)
August 1, 1990... Japanese Cotton Boycott Japan, the world's largest cotton importer, is maintaining its unofficial boycott of Israeli cotton, in attempt by the country's business community to avoid antagonizing Arab countries. Israel's Cotton Production and...

Record grape exports. (Agriculture)
August 1, 1990... Record Grape Exports A record one week grape export was registered for the week ending July 20. Agrexco exported 770 tons of grapes at $2,280 a ton valued at $1.75 million. Since the beginning of the year, some 3,000 tons have been exported,...

Warm eels. (for export) (Agriculture)
August 1, 1990... Warm Eels According to the Israel High Tech Report, Dr. Samuel Applebaum, Agriculture Unit Head at Ben Gurion University's Blaustein Institute for Desert Research, has been breeding eels for export. He has concentrated his research on the use...

IAI Miami subsidiary. (Israel Aircraft Industries) (Aircraft Industry)
August 1, 1990... IAI Miami Subsidiary Israel Aircraft Industries is developing a sizable aircraft maintenance business in the U.S. Clients who find it inconvenient, for either political or technical reasons, to bring their aircraft to company's main Israeli...

U.S. - Soviet - Israel joint venture. (construction of a civilian airliner) (Aircraft Industry)
August 1, 1990... U.S. -- Soviet -- Israel Joint Venture Transportation Minister Moshe Katzav is scheduled to visit his U.S. counterpart in the first half of August, accompanied by Shai Shohami, director of the Civil Aviation Authority. Among the central topics...

Installment saving. (Banking)
August 1, 1990... Installment Saving With the cancellation of the "Le'matmid" savings plans at the beginning of June, there have been no installment savings programs available. Beginning this week Bank Leumi is offering an installment savings plan for a period...

Banks charges up. (commission fees) (Banking)
August 1, 1990... Banks Charges Up The banks raised their commission fees last week by between 7% to 54%. Account-management fees for positive balances went up from 24 agorot to 37 agorot -- a 54% rise. Management fees on overdrawn accounts rose from 32 agorot...

New mortgage offer by First Int'l. (First International Bank) (Banking)
August 1, 1990... New Mortgage Offer by First Int'l In the wake of a successful capital issue, the proceeds of which have been slated for mortgage financing, the First International Bank has begun to offer mortgages for up to 17 years, with only 80% linkage to...

Leumi and the central bank. (not taking advantage of credit) (Banking)
August 1, 1990... Leumi and the Central Bank Banking circles in Israel have been accusing Bank Leumi of strange behavior. Bank Leumi does not take advantage of the credit the central bank makes available to it at an annual interest rate of 14%. The bank does...

Feminine loans. (Bank Hapoalim setting up loan fund for women interested in starting their own businesses) (Banking)
August 1, 1990... Feminine Loans Bank Hapoalim has set up a NIS 500,000 fund from which loans will be granted to assist women interested in setting up their own businesses or making existing businesses more efficient. The loans will be granted in two ways: *...

Managing director for two months. (Israel Chemicals Managing Director Haim Erez to serve as acting Dead Sea Works Managing Director) (Chemicals)
August 1, 1990... Managing Director for Two Months Managing director of Israel Chemicals Haim Erez has been elected to serve as acting managing director of ICL subsidiary Dead Sea Works for a maximum two months. The decision to appoint a managing director for...

Burma on the line. (Telrad Telecommunications Electronics to supply telephone exchanges to Burmese government) (Communications)
August 1, 1990... Burma on the Line The Koor Industries concern's Telrad subsidiary has signed a $5-million contract to supply telephone exchanges to the Burmese government. The company won the contract following its successful completion of a public switching...

Broadcasts in Russian and Amharic. (radio network for Russian and Ethiopian immigrants) (Communications)
August 1, 1990... Broadcasts in Russian and Amharic The Broadcasting Authority has adopted the recommendations of the Minister of Culture and Education, Zevulun Hammer, to operate a radio network that would broadcast in Russian and Amharic to Russian and...

Letter from Sony. (uses new generation data storage software of Teleimage Systems) (Computers)
August 1, 1990... Letter from Sony Few Israelis have heard of the firm Teleimage Systems (T.I.S.), managed by Yitzhak Nakar and Hami Davidson. However, Japan's giant Sony Corporation uses the new-generation data storage software the Ramat Gan company has...

Koor behind in five-year plan. (Conglomerates)(includes information on 1990 earnings)
August 1, 1990... Koor Behind in Five-Year Plan Accounting professor Itzhak Swary, retained by the consortium of Israeli creditor banks of the ailing Koor Industries conglomerate to analyze its business activities during 1989 and the first quarter of 1990, has...

Yissum on Wall Street. (Conglomerates)
August 1, 1990... Yissum on Wall Street Yissum Holding's shares will be registered for trade on New York's OTC (over-the-counter) market by the end of the year, according to Boaz Paz, managing director of the high-tech investment company. At the same time,...

Opposition to SA prefabs. (prefabricated South African houses, U.S. sanctions and Israel) (Construction)
August 1, 1990... Opposition to SA Prefabs In response to fears of hostile U.S. reaction, the Housing Ministry will probably not authorize imports of prefabricated South African houses, despite the convenient financing terms that are being offered. The U.S. has...

Engineer suspended. (Haim Holin designed a building which collapsed) (Construction)
August 1, 1990... Engineer Suspended In an unprecedented step, an engineer who planned a building that collapsed has been suspended from the list of registered engineers. Engineer Haim Holin designed a building in Jerusalem's Har Nof neighborhood, which...

Statute of limitations. (building contractors responsible for repairing various faults in apartments for a period of three to ten years) (Construction)
August 1, 1990... Statute of Limitations The Knesset has approved a new law whereby building contractors are responsible for repairing various faults in apartments they have sold for a period of between three to ten years. The situation up until now has been...

Luxembourg rental housing. (FZAP, investment company registered in Luxembourg, interested in entering Israeli construction market) (Construction)
August 1, 1990... Luxembourg Rental Housing FZAP, an investment company registered in Luxembourg, wishes to join construction companies interested in entering the Israeli construction market to build for new immigrants and young couples. The company, unknown in...

Former bank manager accused. (Moshe Mann accused of fraud and false documentation) (Criminal)
August 1, 1990... Former Bank Manager Accused Former managing director of the Tefahot Israel Mortgage Bank Moshe Mann has been accused of fraud and false documentation. Most of the charges relate to a house Mann built more than 20 years ago on Dubnov Street in...

Porat bros. accused. (Michael and Amir Porat, failure to disclose income) (Criminal)
August 1, 1990... Porat Bros. Accused Michael Porat, managing director of Pollak H.G., has been arrested on suspicion of failing to disclose income worth hundreds of thousands of shekels. Last Monday, the brothers Michael and Amir Porat, managers and owners of...

Navy may procure Shaldag. (Shaldag patrol boat) (Defense and Security)
August 1, 1990... Navy May Procure Shaldag The navy has begun to test the performance of Israel Shipyards' Shaldag patrol boat, in which it had previously not shown any interest. The animus behind the service's decision is commonly believed to be the successful...

Shortage of diamonds. (Diamonds, Jewelry and Gems)
August 1, 1990... Shortage of Diamonds Notwithstanding a 5.6% increase in imports of rough diamonds during the first six months of the year -- $1.3 billion, compared with $1.2 billion during the corresponding period last year, there is a marked shortage of...

Scitex distributes bonus shares. (Electronics)
August 1, 1990... Scitex Distributes Bonus Shares Scitex Corporation's board of directors has decided to hold an extraordinary shareholders meeting to approve the increase of the company's paid-up capital. The shareholders will also approve the distribution of...

Eshed raising capital. (Eshed Robotec) (Electronics )
August 1, 1990... Eshed Raising Capital Eshed Robotec, a robot manufacturer and designer of robotics training programs and machine-vision systems, is holding discussions with overseas investors in respect of their acquiring equity in the company. Approximately...

Sonol enriched. (Sonol Israel continues to sell enriched gasoline even though additives not approved) (Energy and Fuels)
August 1, 1990... Sonol Enriched Sonol Israel is continuing to sell enriched gasoline at its stations around the country, even though the gasoline contains additives that have not as yet been approved by the Standards Institute or the Energy Ministry's Fuel...

British construction group seminar. (Exhibitions, Conferences and Seminars)
August 1, 1990... British Construction Group Seminar The Construction Industry Group of the British Overseas Trade Group for Israel (BOTGI) will sponsor a seminar at the Tel Aviv Hilton on Tuesday, September 11, 1990, from 8:45 am to 1 p.m. The seminar, being...

New business guide. (The Businessman's Guide to Government Purchasing) (Exports)
August 1, 1990... New Business Guide Israel's trade representatives in the U.S. have published The Businessman's Guide to Government Purchasing for Israeli exporters interested in bidding for public tenders in the U.S. The guide provides a detailed list of...

Pollack sells off. (Israel Pollack) (Fashion)
August 1, 1990... Pollack Sells Off Israel Pollack, founder and former owner of the controlling interest in the Polgat Industries conglomerate, has sold his remaining 18% interest in the company for approximately NIS 15 million. The purchasers are pension funds...

Modai on commercial papers. (Yitzhak Modai) (Finance)
August 1, 1990... Moda'i on Commercial Papers Finance Minister Yitzhak Moda'i has joined the Bank of Israel in its efforts to make it easier for private companies to issue marketable, short-term commercial paper. In a letter to the chairman of the Knesset...

Wave of new issues expected. (stocks) (Finance)
August 1, 1990... Wave of New Issues Expected The successful issues of Vulcan Batteries, Miromit Ashkelon Metal Products, Ya'ad Industries and Mul-T-Lock are expected to bring about a larger wave of issues by new companies. The continued stock-market boom in...

Capital in Canada. (Israeli film production company will raise capital on Vancouver Stock Exchange) (Finance)
August 1, 1990... Capital in Canada An Israeli film production company owned by a well-known actor and a company that provides air and ground services for charter airlines that use Ben-Gurion Airport will be raising capital on the Vancouver, Canada, Stock...

Where is the smart money going? (computer software) (Finance)
August 1, 1990... Where is the Smart Money Going? According to the Israel High-Tech Report, a record of eleven years of project approvals by BIRD, (the Israel-U.S. Binational Industrial Research and Development Foundation), when viewed by categories, indicates...

Modai versus Sharon. (Yitzhak Modai, Ariel Sharon) (Finance)
August 1, 1990... Moda'i Versus Sharon "No western economy can survive with a 8.5% budget deficit and there must be no absorption expenses that are not absolutely necessary," declared Finance Minister Yitzhak Moda'i, in response to Housing Minister Ariel...

Pasta imports. (Food, Beverages and Tobacco)
August 1, 1990... Pasta Imports Twelve companies have expressed interest in importing pasta, according to requests submitted to the Ministry of Industry and Trade and the Chief Rabbinate. Most of the requests involve imports from Italy; some are from the U.S....

Osem rapped for tuna imports. (Osem Food Industries) (Food, Beverages and Tobacco)
August 1, 1990... Osem Rapped for Tuna Imports Osem Food Industries is waging a war against importing pasta from Italy, thus creating the impression that the company is fighting for locally-produced goods. At the same time, however, Osem itself is importing...

Tivall and Pikanti apply to FDA. (Israel food manufactures apply to US Food and Drug Administration to market kosher products in US) (Food, Beverages and Tobacco)
August 1, 1990... Tivall and Pikanti Apply to FDA Israeli food manufacturers Tivall and Pikanti Israel have applied to the U.S. Food and Drug Administration to sell their products in the U.S. Pikanti, which manufactures meat products has been working through a...

Osem may import coffee. (Osem Food Industries) (Food, Beverages and Tobacco)
August 1, 1990... Osem May Import Coffee In the latest round in the Osem - Elite war, Osem is said to be negotiating with overseas producers concerning coffee imports. Osem decided to import coffee following discussions by senior management and major...

U.S. halts meat imports. (because of lack of quality control lab in Israel to check for pesticides residues, other ecological pollutants, heavy metals and various veterinary medicines) (Food, Beverages and Tobacco)
August 1, 1990... U.S. Halts Meat Imports The U.S. Department of Agriculture has banned imports of turkey and chicken products processed in Israel. The reason for this decision, which imperils exports worth $15 million annually, is the lack of a quality-control...

Cooked goose. (sharp drop in goose liver exports) (Food, Beverages and Tobacco)
August 1, 1990... Cooked Goose The goose industry in Israel is threatened with collapse due to the sharp drop in goose liver exports this year -- down 25% compared to last year, which in turn had also registered drops compared to the year before. The slumps...

Ben and Jerry's buys Lagushka. (Food, Beverages and Tobacco)
August 1, 1990... Ben and Jerry's Buy Lagushka After year-long negotiations, U.S. ice cream producer Ben and Jerry's has acquired the Lagushka ice cream plant in Yavneh. The Lagushka plant, previously owned by Sunfrost, closed down a few months ago. The 700-sq....

Job shortage for graduates. (university graduates) (Labor)
August 1, 1990... Job Shortage for Graduates University graduates are finding it increasingly difficult to find jobs. Thousands of students who have just completed their studies are unable to find employment in their fields. Employers have been inundated with...

Hadassah fined for discrimination. (Hadassah-Ein Kerem Medical Center) (Litigation)
August 1, 1990... Hadassah Fined for Discrimination Placing an ad for a computer programmer has cost the Hadassah - Ein Kerem Medical Center an NIS 1500 sex-discrimination fine. Jerusalem district Labor Court Judge Yaacov Neugeborn claimed the hospital's...

Amgazit export order. (Metal and Electrical Industry)
August 1, 1990... Amgazit Export Order Amgazit, a manufacturer of gas equipment for camping and industry, has received an export order worth some $4 million from Australia's K-Mart chain. Supply will be over a number of years. Amgazit director Naftali Schneider...

Steel manufacturers cancel discounts. (Metal and Electrical Industry)
August 1, 1990... Steel Manufacturers Cancel Discounts Steel manufacturers Ram Industries, owned by Reuven Asa and Koor Industries' United Steel Mills have announced to their clients that as of August 1 they are cancelling all discounts. The surprising...

Powering wheelchairs. (electric drive for manual wheelchairs) (Metal and Electrical Industry)
August 1, 1990... Powering Wheelchairs According to the Israel High-Tech Report, Propel Partnership, an industrial R&D company specializing in the development of electro-mechanical consumer products, has developed an electric drive for manual wheelchairs. The...

Agreement on Wire and Cables. (Tadiran to sell subsidiary Electric Wire and Cables) (Metal and Electrical Industry)
August 1, 1990... Agreement on Wire and Cables Tadiran has signed an agreement in principle to sell its subsidiary Electric Wire and Cables to a group of investors that includes businessman Yuli Ofer and a foreign company owned by David Amar. Amar is...

Jerusalem air-conditioners to Nigeria. (Metal and Electrical Industry)
August 1, 1990... Jerusalem Air-Conditioners to Nigeria A Nigerian heating and cooling products company has signed an agreement with the Jerusalem Pereg air-conditioner company to purchase NIS 7 million worth of air-conditioners. The agreement was signed for a...

Supersol buys land in Ashdod. (Real Estate)
August 1, 1990... Supersol Buys Land in Ashdod The Supersol chain of supermarkets has won a tender offered by the Israel Land Administration entitling them to buy a 2.5-acre plot of land in Ashdod for $1.92 million. Supersol will build a new supermarket on the...

Yokneam apartments in demand. (Real Estate)
August 1, 1990... Yokneam Apartments in Demand I. Moshkovitz Construction has reportedly sold, within a week, 40 of 76 apartments being built in Yokneam as part of a Housing Ministry project. Three-room apartments (78 square meters) are being sold at around...

Flat prices rise 4.8% in second quarter. (Real Estate)
August 1, 1990... Flat Prices Rise 4.8% in Second Quarter According to economists at Tefahot Israel Mortgage Bank, the price of apartments rose in real terms in the April-June quarter by 4.8%. In dollar terms, they rose 5.5%. The bank's data also indicate that...

Releasing land. (agricultural land for housing) (Real Estate)
August 1, 1990... Releasing Land Some 110,000 apartments may be built on about 10,000 acres of agricultural land to be released for building by the Israel Land Administration. The Interior Ministry and 54 local authorities took part in a two-month campaign to...

Price display. (prices of goods displayed in store not price codes) (Retail)
August 1, 1990... Price Display An amendment to the Goods and Services Control Law prepared by the Ministry of Industry and Trade would require that prices of goods be displayed in stores instead of the ubiquitous price codes. In the past such a bill had been...

Revenue down in June. (Jerusalem businesses) (Retail)
August 1, 1990... Revenue Down in June A drop in revenues was registered by Jerusalem businesses during June. Figures released by the Israel Federation of Commerce showed that textiles and footwear revenue fell 16.38%; services (plumbers, electricians and...

Co-op considering Hamashbir. (for acquisition) (Retail)
August 1, 1990... 41.3 Co-op Considering Hamashbir The Co-op supermarket chain is considering the acquisition of Hamashbir Hamerkazi's (a wholesale co-operative) share of Hamashbir Lezarchan (a department store chain). The financially troubled Hamashbir...

No U.S. textile quotas. (Textiles)
August 1, 1990... No U.S. Textile Quotas According to representatives of the U.S. Department of Commerce, Israel will be exempt from quotas on textiles imported to the U.S. as a result of pending U.S. Senate legislation that will impose protectionist import...

Rogosin halts USSR exports. (Rogosin Enterprises stops exports due to payment problems) (Textiles)
August 1, 1990... Rogosin Halts USSR Exports Rogosin Enterprises, Israel's number one exporter to Russia in 1989, has halted shipments to that country following payment problems. The Rogosin plant, located in Ashdod, specializes in synthetic industrial...

Canadians to build hotel. (in Tel Aviv) (Tourism)
August 1, 1990... Canadians to Build Hotel Ashtrom Engineering plans to begin construction of the tower project above Sahar House opposite the U.S. embassy in Tel Aviv. The company reached an agreement with a Canadian group of investors, including the Canadian...

The American behind the Russians. (Simon Chilewich) (Trade)
August 1, 1990... The American Behind the Russians Although he is not Armand Hammer, Simon Chilewich, a U.S. businessman, has been doing business with the Soviet Union for 34 years. He was the man behind the visit of the president of the Soviet Federation of...

Housing bureaucracy: the strange case of Ramat Modi'im.
August 1, 1990... Housing Bureaucracy: the Strange Case of Ramat Modi'im In spite of all the talk about cutting through government red- tape to speed up procedures for getting housing projects under way, at Ramat Modi'im, it's bureaucracy-as-usual. If in normal...

Zeev Holtzman: Chief Executive Officer and principal shareholder, Giza Ltd. (Personal Profile)
August 1, 1990... Zeev Holtzman Chief Executive Officer and principal shareholder, Giza Ltd. Personal Details Zeev Holtzman, 49, holds an M.B.A. in Finance (1968) from Columbia University and a B.A. in Economics (1966) from the Hebrew University. Prior...

U.S. economic delegation criticism. (Israel's economy)
August 8, 1990... U.S. Economic Delegation Criticism Members of a U.S. economic delegation currently in Israel criticized the slow pace in implementing structural changes in Israel's economy, contrary to what was finalized at previous meetings. They also pointed...

Executive jetting to Russia.
August 8, 1990... Executive Jetting to Russia The Soviet Chamber of Commerce is considering acquisition of Israel Aircraft Industries' Astra executive jets. Interest in the plane stems from a recent visit to IAI facilities by the Chamber's president, Vladislav...

Koor Trade's turn. (selling 51% of its African operations)
August 8, 1990... Koor Trade's Turn Koor Trade, a Koor Industries subsidiary, plans to sell 51% of its African operations to British businessman Bernard Schreier. The agreements are expected to be completed within a few days. Sources close to the negotiations...

Makhteshim seeks partner. (Makhteshim Chemical Works)
August 8, 1990... Makhteshim Seeks Partner Makhteshim Chemical Works, the manufacturer of industrial and crop-protection chemicals owned by Koor Industries, is looking for a strategic partner. Several months ago, discussions were held with a U.S. company, ICI,...

Watering Finnish forests. (Kibbutz Na'an products)
August 8, 1990... Watering Finnish Forests Finland has begun watering its forests with equipment manufactured at Kibbutz Na'an. Finnish forestry officials have discovered that controlled irrigation and fertilization hastens the growth rate of the trees, despite...

McDonnell Douglas tests at Ika.
August 8, 1990... McDonnell Douglas Tests at Ika Haifa's Ika -- Industrial Consulting has received authorizaton from McDonnell Douglas to examine and certify Israeli-made sub-components that the U.S. aviation giant purchases here. Many Israeli firms that export...

Heath in Israel. (Edward Heath)
August 8, 1990... Heath in Israel Edward Heath, former British prime minister and Margaret Thatcher's bitterest rival, will visit Israel in November. Heath will lecture at the opening of the international accountants conference to be held in Jerusalem. Around a...

Rafael to manufacture Patriot components.
August 8, 1990... Rafael to Manufacture Patriot Components The government-owned Rafael Armaments Development Authority will manufacture missile components for the U.S. Raytheon Corporation, producer of the Patriot ground-to-air missile. Negotiations are also...

Regulations on minor advertising. (Advertising & Public Relations)
August 8, 1990... 1.1 Regulations on Minor Advertising Minister of Industry and Trade Moshe Nissim has presented recommendations for advertising aimed at minors to the Knesset economics committee. The proposed regulations, which would protect minors from physical...

Bickel gets export license. (Agriculture) (Gideon Bickel)
August 8, 1990... 2.1 Bickel Gets Export License The management of the Vegetable Board has yielded to the demand of Minister of Agriculture Rafael Eitan that private exporter Gideon Bickel be granted a license to export mushrooms. Bickel intends exporting...

Sun-D'or sets. (Aviation)
August 8, 1990... 4.1 Sun-D'or Sets El Al charter subsidiary Sun D'or has a experienced a sharp decline of 47.9% in the number of travelers this past June, compared with June 1989. On the other hand, there was a 90.4% increase in the numbers of travelers on the...

No imminent El Al - Aeroflot agreement. (Aviation)
August 8, 1990... 4.2 No Imminent EI AI -- Aeroflot Agreement The agreement on direct flights signed between El Al Israel Airlines and the national Soviet airline Aeroflot is not operational and Vladislav Malkevich, president of the Soviet Federation of Chambers...

Bank attaches house. (Banking) (Bank Leumi Trust of New York)
August 8, 1990... 5.1 Bank Attaches House Bank Leumi Trust Co. of New York was the object of publicity of dubious value when it foreclosed on the luxury home of a financially-troubled millionaire. The Liggett family, on returning to their $4-million home one...

UMB merger with Finance and Trade. (Banking) (United Mizrahi Bank)
August 8, 1990... 5.2 UMB Merger with Finance and Trade The merger between the United Mizrahi Bank and its subsidiary, the Finance and Trade Bank, went into effect on August 1. All Finance and Trade's accounts have been transferred to UMB and its clients will be...

First International profits down. (Banking)
August 8, 1990... 5.3 First International Profits Down The First International Bank registered net earnings of NIS 22.3 million for the first six months of 1990, a 4% drop compared with the NIS 23.2 million registered for the same period last year. Profits for...