ICEN articles from February 1990

ICEN archives from February 1990

Citrus troubles in England.
February 7, 1990... Citrus Troubles in England "Sloppiness on the part of several packing houses sorting fruit sent to England is hurting the credibility of Israeli citrus fruit. Israel could also lose the English market due to a lack of advertising and sales...

FAA certifies Bedek. (Federal Aviation Authority; Israel Aircraft Industries Ltd. Bedek Aviation Div.)
February 7, 1990... FAA Certifies Bedek Masham, the engine maintenance plant of Israel Aircraft Industry's Bedek Aviation Division, has been granted a full JT9D engine maintenance certification by the United States Federal Aviation Authority (US/FAA). Masham...

Air-conditioner export boost. (two lines from Tadiran-Israel Electronics Industries Ltd.)
February 7, 1990... Air-Conditioner Export Boost "Manhattan Compact" and "Manhattan G", two new lines of air-conditioners from Tadiran, will boost the company's export of air-conditioners this year by about $3 million. This forecast is based on the success...

Israeli-Soviet economic agreement.
February 7, 1990... Israeli-Soviet Economic Agreement Trade between Israel and Eastern European countries, including the Soviet Union, totaled $220 million in 1989. The implementation of an economic agreement and the expansion of trade between Israel and the...

Parking ticket to Singapore. (electronic parking lot tickets)
February 7, 1990... Parking Ticket to Singapore Singapore has introduced the electronic parking lot ticket developed by Tomer Engineering. Managing Director Nathan Tomer, stated that at this stage Singapore is using 100,000 electronic tickets. If the trial run is...

Overseas Contractors' Center. (liaison office opened to help construction investors)
February 7, 1990... Overseas Contractors' Center A liaison's office in the Contractor's Center has opened to aid construction investors. The office, which opened this month, is preparing a catalogue of construction companies and contractors interested in...

Caviar imposter. (kosher substitute)
February 7, 1990... Caviar Impostor The taste of caviar, considered an elite delicacy, will be available at an affordable price due to development of a kosher substitute. Food specialists have determined that both the flavor and the consistency of the new...

Koor, banks and bondholders. (Koor Industries Ltd.)
February 7, 1990... Koor, Banks and Bondholders Despite a deadline atmosphere and the departure of foreign creditor representatives, a number of independent decision makers must ratify and/or clarify various aspects of the agreement reached before it can be...

DSP chip development. (DSP Development Corp.)
February 7, 1990... DSP Chip Development The DSP Group has received funding from the Israel-US Binational Research (BIRD) Foundation to develop a highly advanced digital signal processing (DSP) chip for an integrated fax machine. The new offering from the DSP...

New drug for Alzheimer's. (developed at Bar Ilan University)
February 7, 1990... New Drug for Alzheimer's A new drug to treat Alzheimer's disease has been developed at Bar Ilan University. In an experiment, the drug provided relief to a portion of the 160 participants, according to Professor Shlomo Yehuda of Bar Ilan's...

Hamashbir fires 250 workers. (Hamashbir Hamercazi)
February 7, 1990... Hamashbir Fires 250 Workers Debts totaling NIS 50 million has prompted Hamashbir Hamercazi's management to implement measures which will increase efficiency and reduce expenses. Under the scheme, 250-270 employees will be fired, representing...

Advertising drop. (Advertising & Public Relations)
February 7, 1990... Advertising Drop Expenditures on advertising totaled $523.4 million in 1989, the first annual decline since 1985 when $206.2 million was spent. The decline in advertising from 1.33% to 1.22% of the gross national product represented a fall...

No more tobacco. (grown in Israel) (Agriculture)
February 7, 1990... No More Tobacco Tobacco will no longer be grown in Israel as of 1991, the Agriculture Ministry has decided. The ministry found that cigarette companies preferred importing tobacco, claiming imports were more popular among smokers. The Tobacco...

Revenue down 13%. (Israeli agriculture) (Agriculture )
February 7, 1990... Revenue Down 13% Income in real from agriculture decreased 13% in 1989. This follows a 10% decline in 1988. The Central Bureau of Statistics reported that the decline is mainly due to the rise in prices paid by farmers for machine and...

Export losses. (Agriculture)
February 7, 1990... Export Losses Israeli produce manufacturers lost more than $1 million in the past two weeks due to agricultural competition from the territories. Arab produce exports from Judea, Samaria and Gaza is being permitted by the Ministry of...

Citrus exports rise. (Israel) (Agriculture)
February 7, 1990... Citrus Exports Rise Israel's citrus exports were boosted due to the bad weather that hit the crops of competitors in Florida, Spain and Morocco. The Citrus Fruit Marketing Board reported that the target yield of 1.25 million tons of Israeli...

M.I. Holdings to sell banks. (Banking)
February 7, 1990... M.I. Holdings to Sell Banks During the 1990 fiscal year, M.I. Holdings, the government holding corporation, intends to sell three banks: Israel Discount Bank, Union Bank and United Mizrahi Bank. IDB Bankholding Corporation (whose main holding...

Higher bank interest. (Bank of Israel) (Banking)
February 7, 1990... Higher Bank Interest The Bank of Israel hinted this week of a possible increase in shekel interest. The Bank created a new line of loans, in addition to existing monetary tender loans and is now offering the banks loans at an 18% annual...

New plans offer poor terms. (savings plans) (Banking )
February 7, 1990... New Plans Offer Poor Terms Terms for new savings plans will be less favorable than previous savings schemes. The Treasury has approved four new plans which will be presented by the banks in the next few weeks. Two provide linkage to the...

Petrochemical Enterprises profit plummet. (Israel Petrochemical Enterprises Ltd.) (Chemicals)
February 7, 1990... Petrochemical Enterprises Profit Plummet Israel Petrochemical Enterprises completed 1989 with a net profit of NIS 5.3 million, compared with profits of NIS 32.2 million for 1988. Revenue from 1989 sales totaled NIS 205.5 million, compared with...

Second channel. (commercial television) (Communications)
February 7, 1990... Second Channel The Knesset has enacted a law establishing a commercial television channel whereby a private body will oversee its operations. The Broadcasting Authority will appoint 40% of the board and a governing council of public figures...

End to spelling 'misteaks.' (Magia, the first Hebrew spell-check system)(Computers) (product announcement)
February 7, 1990... End to Spelling `Misteaks' Magia, the first Hebrew spell-check system, will be marketed by Idan Software for $99 excluding V.A.T. The system may be used on IBM and IBM compatible computers and, in a modified version, on MacIntosh computers....

Software export growth. (Israel) (Computers)
February 7, 1990... Software Export Growth Israeli software exports are expected to reach $65 million this year, compared with $55 million in 1989 and $25 million in 1987. The country's principal markets are Europe and the U.S.

Computer employment upturn. (Computers)
February 7, 1990... Computer Employment Upturn Demand for workers in the computer fields more than doubled in January 1990, compared with January 1989, from 498 jobs being offered to 1261. This increase brought demand in this industry to its highest level in the...

Clal's Electra bond issue. (Conglomerates)
February 7, 1990... Clal's Electra Bond Issue Electra plans to raise NIS 12 million on the Tel Aviv Stock Exchange through an issue of unsecured convertible bonds and free stock options. NIS 8 million of the issuance proceeds are for repayment of short-term...

Kibbutz industry 1989 exports. (Conglomerates)
February 7, 1990... Kibbutz Industry 1989 Exports Kibbutz industry exports in 1989 totaled $640 million, the same as in 1988, which represented an increase of 18.7% over 1987, reported Amos Epstein, president of the Kibbutz Industries Association. Epstein said...

Interest in developing Eilat. (Construction)
February 7, 1990... Interest in Developing Eilat A dozen companies and investors are participating in the tender offered by the City of Eilat for the construction of a new Municipal Center, at an investment of approximately $30 million. The Municipal Center will...

Construction in Yokneam. (Construction)
February 7, 1990... Construction in Yokneam Africa Israel Investments is building 80 cottages and a 20,000 square meter building for high-tech industries in Yokneam. The company is fulfilling a promise made by Managing Director Shlomo Grofman to Finance Minister...

Azorim constructing 2000 apartments for Olim. (Azorim Construction) (Construction)
February 7, 1990... Azorim Constructing 2000 Apartments for Olim Azorim Construction has allocated land for building 500 housing units for new immigrants in Netanya, Acre and Ashdod. In the second phase of the project Azorim will locate additional lands and build...

London diamond delegation visit. (Diamonds, Jewelry & Gems)
February 7, 1990... London Diamond Delegation Visit A visiting delegation from the diamond syndicate in London (CSO) held talks with government officials to determine the amount of rough diamonds the Israeli industry will receive this year. Israel is seeking to...

Oil exploration participation guidelines. (Energy & Fuels)
February 7, 1990... Oil Exploration Participation Guidelines The Board of Directors of the Tel Aviv Stock Exchange has established new guidelines to regulate the registration of participation units for oil and gas exploration. Participation units entitle unit...

Israeli companies exhibiting abroad. (Exhibitions, Conferences & Seminars)
February 7, 1990... Israeli Companies Exhibiting Abroad Israeli companies spend approximately $2 million annually on participation in trade shows abroad, says Yitzhak Shalev, Managing Director of Itex Exhibition Services. Shalev estimates that every year about...

Sweet success for Israelis at Cologne exhibition. (Exhibitions, Conferences & Seminars)
February 7, 1990... Sweet Success for Israelis at Cologne Exhibition Nine hundred exhibitors from 40 countries are participating in this year's ISM, the candy and confectionery trade fair that is closing tomorrow in Cologne. Nine Israeli companies are sharing the...

Rise in clothing exports. (Fashion)
February 7, 1990... Rise in Clothing Exports Following an 11% decline in the first half of 1989, knit-wear and clothing exports to the U.S. rose 8%. The total export in the clothing branch reached $419 million with an annual increase of 1%, covering losses of the...

Threatened foreign currency reserves. (Finance)
February 7, 1990... Threatened Foreign Currency Reserves The liberalization of the domestic financial markets could pose a serious threat to the foreign currency reserves, warned David Klein, head of the monetary and foreign currency department at the Bank of...

Government corporations issuances. (Finance)
February 7, 1990... Government Corporations Issuances The Government Corporations Authority is preparing forthcoming stock issues of more government companies, to be offered as part of the government's privatization plan. The offerings include Bezeq, Israel...

Bank Hapoalim forecasts growth. (Finance)
February 7, 1990... Bank Hapoalim Forecasts Growth The economic developments in Israel in 1990 will be influenced primarily by the expected mass immigration from the Soviet Union. In an updated economic forecast produced by economists at Bank Hapoalim it is...

Stock report. (Tel Aviv Stock Exchange) (Finance)
February 7, 1990... Stock Report The low prices of shares at the beginning of 1989, declining interest rates and the low P/E multiples on the Tel Aviv Stock Exchange all served as justifications, according to Ofek economists, for the sharp rise in the stock...

Reduced income for some. (budget proposal) (Finance )
February 7, 1990... Reduced Income for Some The budget proposal for the coming fiscal year has passed its first reading. A study by Histadrut economists indicates that under the proposal, family income will be reduced by NIS 126 a month for a family with three...

High rice consumption. (Food, Beverage & Tobacco)
February 7, 1990... High Rice Consumption The monthly rice consumption in Israel is 1.5 kilos per person. Moshe Rahamot, Managing Director of the Sugat factory, said the company imports the rice it mills from Thailand, the U.S. and Australia. Of the 25 varieties...

Frozen food sales soar. (Food, Beverage & Tobacco)
February 7, 1990... Frozen Food Sales Soar A 10% increase in frozen food sales was reported for 1989 in comparison to 1988 sales, with 20 thousand tons of frozen foods sold. Sunfrost's managing director, Aaron Limor, reported that the company exported...

Osem preparing for 1992. (Osem Food Industries) (Food, Beverage & Tobacco)
February 7, 1990... Osem Preparing for 1992 Osem Food Industries will soon enter into partnership with a large European marketing firm which will market Osem products in EEC countries. Negotiations between the two companies are at an advanced stage, according to...

Leader in vitro fertilization. (Israel) (Health)
February 7, 1990... Leader in Vitro Fertilization Little more than a decade after the first "test tube" baby was born as a result of in vitro fertilization, IVF has become both popular and successful and Israel has become a forerunner in the field, achieving...

Domestic import surge. (Imports)
February 7, 1990... Domestic Import Surge Imports of durable goods such as cars, dishwashers, VCR's and televisions, surged last month due to the wave of immigrants from the Soviet Union, according to economists. Shop owners are now stocking electrical appliances...

Migdal interest in Shimshon. (Migdal Insurance Co.; Shimshon Insurance) (Insurance)
February 7, 1990... Migdal Interest in Shimshon The Migdal Insurance Company, of the Bank Leumi Group, has expressed interest in buying the Shimshon Insurance, presently owned by the investment fund of Hevrat Ha'ovdim. Shimshon specializes in life insurance and...

Hassneh profits in third quarter. (Hassneh Insurance Company of Israel Ltd.) (Insurance)
February 7, 1990... Hassneh Profits in Third Quarter Hassneh Insurance accrued profits of NIS 176,000 in the third quarter of 1989. However the company lost NIS 296,000 for the period January to September 1989. The Supervisor of Insurance required that NIS 3.7...

Safeguard for foreign workers. (Labor)
February 7, 1990... Safeguard for Foreign Workers The Histadrut's trade union section is establishing a special office to ensure that foreign workers legally employed are being fairly renumerated. The Histadrut will also increase activities to ensure that...

Demand for Israeli workers. (to work abroad) (Labor )
February 7, 1990... Demand for Israeli Workers A sharp increase in demand for Israeli workers abroad was registered for January 1990 compared to last year's figures, according to a survey conducted by Manpower (Israel). The survey is based on the classified...

CEGI and Manpower to help immigrants. (American Committee for the Economic Growth of Israel) (Labor)
February 7, 1990... CEGI and Manpower to Help Imigrants The Milwaukee-based American Committee for the Economic Growth of Israel (CEGI) has established a special bureau to find employment for new immigrants from the Soviet Union who have engineering and...

New law to combat software user pirates. (Legislation)
February 7, 1990... New Law to Combat Software User Pirates The Justice Ministry is writing a bill which would punish anyone who uses pirated computer software, according to Chaim Klugman, Director-General of the Ministry. This follows a meeting with...

Sharp marketing. (Sharplan Lasers Inc.) (Medical Equipment)
February 7, 1990... Sharp Marketing Sharplan Lasers has hired Wolfe Lombard as its marketing and advertising agency. The agency will market the benefits of laser surgery and Sharplan's products to the medical community.

Iskoor in tin-plate. (Metal & Electrical Industry)
February 7, 1990... Iskoor in Tin-plate Iskoor has signed a distributor agreement with the Italian firm La Magona, for purchases of tin-plate. Negotiations are still taking place with respect to terms of delivery and variety of product and prices for Israeli...

Amcor sun heaters to sun city. (moving solar heater factory to Beit Shemesh) (Metal & Electrical Industry)
February 7, 1990... Amcor Sun Heaters to Sun City Amcor is investing NIS 1 million in moving its solar energy factory -- Amatz-Amcor factory from Tel Aviv to Beit Shemesh (House of the Sun) near Jerusalem. The 12,000 square meter Beit Shemesh site employs 250...

Vehicle market summary. (Motor Industry)
February 7, 1990... Vehichle Market Summary Even without taxes, the purchase of a car in Israeli is more expensive than in other places in the world. For example, the Peugeot 405 (RS model), would cost a tourist in France $10,592 (not including customs and...

Robert's visit. (visit to Israel by Robert Maxwell) (Optics)
February 7, 1990... Robert's Visit British media tycoon Robert Maxwell is to arrive in Israel on Sunday, February 18th to check up on his investments in Israel and perhaps study new investment proposals. Once again the possibility will be looked into for...

New immunization treatment. (Pharmaceuticals and Cosmetics)
February 7, 1990... New Immunization Treatment A new substance has been developed at Bar Ilan University to bolster the immune systems of cancer and AIDS patients. The substance, called AS 101, was developed by Professors Binyamin Sharedany and Michael Albek....

Careline expands production capacity. (Pharmaceuticals and Cosmetics)
February 7, 1990... Careline Expands Production Capacity The Careline cosmetics company is investing NIS 1.5 million to expand its Yeruham factory. It will raise the funds through a share issue on the Tel Aviv Stock Exchange. The firm will also receive a...

Anti-rust packaging. (Plastics & Rubber)
February 7, 1990... Anti-Rust Packaging Plastopil Hazorea, in conjunction with Uriel Engineering will begin to market polyethylene packaging which discourages the formation of rust on steel. The material is called "plastorust" and was developed, with an exclusive...

Supersol executive stock options. (Retail)
February 7, 1990... Supersol Executive Stock Options Supersol has allocated another batch of stock options to senior personnel. The allocation took place on February 1st according to an outline published by the company in September 1988. In this, the third batch...

Barkan industrial area grows. (near Ariel, Israel) (Feature Article)
February 7, 1990... Barkan Industrial Area Grows The Barkan Industrial area stands on a Samarian hill next to the Trans-Samarian highway, five minutes from the city of Ariel. In the not so distant past even optimists didn't believe that the industrial area had...

Frank Garrun; founder and chairman of the Garrun Group Real Estate Developers.. (Personal Profile)
February 7, 1990... FRANK GARRUN FOUNDER AND CHAIRMAN OF THE GARRUN GROUP REAL ESTATE DEVELOPERS Vital Statistics Age: 47. Education: Real estate brokers license from San Mateo State College in California. Born and raised in Johannesburg, South...

Discovering apartments. (Real Estate)
February 7, 1990... Discovering Apartments In a recently conducted Construction and Housing Ministry survey it was revealed that there are at least 17,000 empty apartments throughout the country which could potentially house 50-60,000 new immigrants....

Jerusalem apartment prices to skyrocket. (Real Estate)
February 7, 1990... Jerusalem Apartment Prices to Skyrocket The cost of apartments will rise up to 40% in real terms in Jerusalem this year, according to local contractors. To encourage settlement of new immigrants, the City of Jerusalem has decided to exempt them...

Buchman getting involved. (Joseph Buchman wants to build hotels in Eilat) (Real Estate)
February 7, 1990... Buchman Getting Involved Overseas businessman Joseph Buchman is requesting permission to build two hotels in Eilat which will be part of the new municipal center. Each hotel would have approximately 100 rooms. Buchman purchased the defunct...

Unexplored Bat Yam apartment market. (Real Estate)
February 7, 1990... Unexplored Bat Yam Apartment Market The real estate market in Bat Yam, near Tel Aviv, remains untapped, though real estate agents believe a large number of new immigrants from the Soviet Union will eventually buy apartments there since prices...

Real estate venture. (Har-Ash) (Real Estate)
February 7, 1990... Real Estate Venture Har-Ash, a new real estate company, has been established by the Harel-Hamishmar Insurance group and Ashtrom Engineering, prefabricated building contractors. The joint venture company will purchase and develop land and...

Moderate rise in apartment prices. (Real Estate)
February 7, 1990... Moderate Rise in Apartment Prices A moderate rise in the price of apartments was registered in the last quarter of 1989 -- 2.9% in real terms and 8.6% in a dollar calculation, according to Tefahot Israel Mortgage Bank economists. Tefahot...

Capital declarations. (Taxes and Customs Duties)
February 7, 1990... Capital Declarations Deput Income Tax Commissioner Adi Malachi said approximately 65,000 individuals will be required to submit capital declarations this year. Notice will be sent to them in March. Tax authorities will scrutinize each...

Tax exemptions extended. (Taxes and Customs Duties)
February 7, 1990... Tax Exemption Extended The business sector will be exempt from paying the special 7.5% tax on imported services for another year. This follows the Finance Ministry's request that the Knesset Finance Committee extend the exemption period by an...

Automobile purchase tax reform. (Taxes and Customs Duties)
February 7, 1990... Automobile Purchase Tax Reform The Transportation Ministry is considering several proposals to change the purchase tax rate for imported private cars. These include calculating the tax according to the car's base price in the country of...

Concentration of employee benefits. (Taxes and Customs Duties)
February 7, 1990... Concentration of Employee Benefits The Histadrut Labor Organization has withdrawn its opposition to cancellation of most tax exemptions proposed by the Treasury's tax reform proposal. The Histadrut now only opposes cancellation of the...

Patt anticipates surge in tourism. (Tourism Minister, Gideon Patt) (Tourism)
February 7, 1990... Patt Anticipates Surge in Tourism Tourism Minister Gideon Patt is encouraging the tourism industry to plan for approximately three million tourists by 1995. Patt will present a long-term marketing plan to the Finance Ministry and to...

Chinese-Israel agreement. (Trade)
February 7, 1990... Chinese-Israel Agreement Ekross, a technological information company, has signed an agreement with the Chinese Economic Information Service (CEIS). Under the agreement, a joint international company will provide Israeli businessmen with direct...

Trade deficit with EEC. (Israel) (Trade)
February 7, 1990... Trade Deficit with EEC Data provided by the foreign trade department at the Israel Manufacturers Association indicates that Israel's trade deficit with the European Economic Community in 1988 totaled $3.5 billion, compared with Israel's $3.2...

Car maintenance rises. (Transport)
February 7, 1990... Car Maintenance Rises Maintenance costs for a private car rose 8% in the past six months costing 83 agorot per kilometer in a car with a 1,300 cubic centimeter engine and 88 agorot per kilometer in a car with a 1,600 cc engine. The...

Off-peak savings on electricity. (Utilities)
February 7, 1990... Off-Peak Savings on Electricity To facilitate its new night rate differential (7 agorot per kilowatt between 10 p.m. and 8 a.m. versus 17 agorot at other times) for the residential sector, the Israel Electric Co. has offered a tender to...

Reading power unit reactivated. (Utilities)
February 7, 1990... Reading Power Unit Reactivated A large production unit at the Reading power station in Tel Aviv with a power capacity of 214 megawatts has been re-integrated into the electricity production network after four months of repairs. After a gradual...

Milton Friedman hammers Peres. (Shimon Peres' economic policy)
February 14, 1990... Milton Friedman Hammers Peres "You are making a big mistake and the economic policy you are instituting is a big mistake," winner of the Nobel Prize for economics Professor Milton Friedman told Finance Minister Shimon Peres on Monday,...

Profits for I.A.I. (Israel Aircraft Industries)
February 14, 1990... Profits for I.A.I. Israel Aircraft Industries completed 1989 with profits totaling $10 million, according to a preliminary report prepared by the company's auditors. This turnaround comes after two years of heavy losses -- $97 million in 1987...

Distributors boost Fibronics. (seminar hosted by company)
February 14, 1990... Distributors Boost Fibronics Approximately 40 Fibronics agents and representatives from all over the world, including representatives from Portugal, Italy, France, Turkey, Australia and Korea, participated in an intensive five-day seminar...

Zim underwriters. (Zim Israel Navigation Co.)
February 14, 1990... Zim Underwriters A special Treasury committee handling the Zim Israel Navigation Co. international stock issue has chosen two American Banks, Salomon Bros. and Kidder Peabody, to underwrite the stock issue. Shearson Lehman Hutton and Drexel...

Koor sells Kim. (Koor Industries, Kim Production)
February 14, 1990... Koor Sells Kim Koor Industries has reached an agreement to sell its 50% holding in Kim Production to its partner in Kim, Rolf Jones. Koor announced that Kim, a manufacturer of industrial valves for fluid control, has been losing money steadily...

First prize for Ormat. (1990 Energy Resources Technology Industry Award)
February 14, 1990... First Prize for Ormat The 1990 Energy Resources Technology Industry Award Competition, sponsored by the American Society of Mechanical Engineers, has awarded first prize to the Ormat's geothermal power plant. Ormat's high quality boilers and...

Tadiran wins IBM tender.
February 14, 1990... Tadiran Wins IBM Tender Tadiran's metal division has won an IBM tender worth more than $6 million. The division will supply IBM International with metal castings for thermal conductivity systems, which are part of the cooling systems in large...