ICEN articles from May 1990

ICEN archives from May 1990

Voice-of-America road. (Ports, Roads, & Rail)
May 16, 1990... Voice-of-America Road A new 12.5-kilometer road designed to serve the Voice of America project is being built in the Arava region of the Negev at an investment of $14 million. The road include several bridges, one of which will be the largest...

Chain of seniors homes established. (Real Estate)
May 16, 1990... Chain of Seniors Homes Established A group of investors active in the construction industry has begun to establish a chain of retirement homes for senior citizens, to be called Lev Avot. Work has already commenced on two homes in Rehovot and...

Ramat Gan Towers. (Real Estate)
May 16, 1990... Ramat Gan Towers American businessman Sam Rappaport is negotiating with the management of Amad, a subsidiary of the Dan Cooperative Society for Public Transport, to purchase its share in the Ramat Gan Towers adjacent to the Diamond Exchange,...

Business center in Tel Aviv. (Real Estate)
May 16, 1990... Business Center in Tel Aviv The southern part of the government office center in Tel Aviv -- the Kirya -- which encompasses 44 acres, will be torn down and replaced by a commercial center. Almost all of the various government offices on the...

$230 per square meter in Or Yehuda. (Real Estate)
May 16, 1990... $230 per Square Meter in Or Yehuda Or Yehuda has recently become one of the most desirable industrial zones in the country, a phenomenon reflected in land prices. The Israel Land Administration has offered a tender for three 3/4-acre plots...

Modi'in city. (Real Estate)
May 16, 1990... Modi'in City The government has authorized the establishment of a new city in the Modi'in region, just inside the pre-'67 border southeast of Ben-Gurion airport. According to the plan submitted by the ministers of housing and interior, the...

Electric Company acquisition in Haifa. (Israel Electric Corp.) (Real Estate)
May 16, 1990... Electric Company Acquisition in Haifa The Israel Electric Corporation has purchased a new office building in lower Haifa, near the Zim building, for $6 million. The 11-story project has approximately 4,500 sq. m. of floor space. It was...

Zim may have overpaid. (Zim Israel Navigation) (Shipping and Shipbuilding)
May 16, 1990... Zim May Have Overpaid According to informed maritime sources, Zim Israel Navigation has paid such a high price for the seven ships it recently ordered that it will never recoup its investment unless they sail full all the time; the acquisition...

Enchanted markers. (Sports and Entertainment)
May 16, 1990... Enchanted Markers Toucan non-poisonous markers for children are available in a series of colors in a variety of interesting variations. Drawings made with "Magic Colors" markers change their hues after retouching with another marker. Messages...

Income tax commissioner opposes tax increase. (Taxes and Customs Duties)
May 16, 1990... Income Tax Commissioner Opposes Tax Increase Income Tax Commissioner Moshe Gavish, speaking in reaction to press reports about the need to raise taxes because of the added government expenditures resulting from the mass Soviet immigration, has...

Lower customs on prefabs. (Taxes and Customs Duties )
May 16, 1990... Lower Customs on Pretabs The U.S. has asked Israel to lower customs duties on American-made prefabricated housing components because of the urgent need to provide apartments for the wave of new immigrants. The request was made at the joint...

Chamber of Commerce Moscow bound. (Trade)
May 16, 1990... Chamber of Commerce Moscow Bound The Federation of Israeli Chambers of Commerce will send a delegation to Moscow in two weeks to establish offices there. Within a month, a Soviet delegation will arrive in Israel to make necessary arrangements...

Trade deficit up. (Trade)
May 16, 1990... Trade Deficit Up A sharp rise in the trade deficit was registered during the first four months of the year bringing the deficit to $1 billion, compared with $780 million during the same period last year -- a 30% rise. Net imports totaled $4.6...

Largest ever trade mission from Britain. (Trade)
May 16, 1990... Largest Ever Trade Mission From Britain The British Overseas Trade Group for Israel (BOTGI), part of the export promotion arm of the UK Department of Trade in London, is bringing its largest-ever exporters mission to Israel on June 3- 10....

Pensions hang up on Bezeq. (Bezeq Israel Telecommunications) (Utilities)
May 16, 1990... Pensions Hang up on Bezeq Pension fund economists at two banks slated to underwrite Bezeq Israel Telecommunication's forthcoming securities issue have determined unequivocally that the acquisition of Bezeq shares and bonds is not a worthwhile...

Water plan on ice. (Utilities)
May 16, 1990... Water Plan on Ice A multi-year plan for the management of Israel's water reserves prepared by Tahal Consulting Engineers (water resources development) for Water Commissioner Zemah Ishai has been shelved for the last 18 months, as the ministry...

Phil Wigdor: general manager, Israel Metals Center. (Personal Profile)
May 16, 1990... Phil Wigdor General Manager, Israel Metals Center Personal Details: Age: 53. Born in Montreal, Wigdor was an executive at a leading Canadian aluminum service center, before immigrating to Israel in 1969. The father of two (and recent...

High road for Aldema.
May 16, 1990... High Road for Aldema Aldema has signed a contract with the Belgian OBL investment company whereby OBL will market Aldema's products in Europe. Aldema has developed innovative paving materials for roads and asphalt and cement surfaces (see ICEN...

Major contract for IAI. (Israel Aircraft Industries)
May 16, 1990... Major Contract for IAI Israel Aircraft Industries has signed a multi-year agreement with an overseas aircraft manufacturer for the production of aircraft parts. The agreement, valued at $400 million and reportedly reached after lengthy...

Motorola chip. (silicon chip)
May 16, 1990... Motorola Chip The American Motorola company has unveiled a revolutionary silicon chip, the 96002 "media engine," which was developed entirely by Motorola Semiconductor Israel. Motorola envisages a large market for the new chip among recording...

Record first quarter earnings for ECI. (ECI Telecom Ltd.)
May 16, 1990... Record First Quarter Earnings for ECI ECI Telecom results indicate record first-quarter sales and earnings. Turnover for the period was $17.3 million, up 40% from $12.3 million for the first quarter of 1989. Gross profit for the quarter was...

Airport security simulator. (Israel Military Industries)
May 16, 1990... Airport Security Simulator Israel Military Industries has recently started to market a simulator developed to train security personnel at international airports. The Israeli instrument has aroused much interest and there is a possibility that...

Big Asian deal for Michshuv.
May 16, 1990... Big Asian Deal for Michshuv Michshuv, developer of the "Idan" financial package, has signed an agreement to have its software marketed in Southeast Asia by the Hong Kong-based consulting firm Triune. The agreement calls for Triune to purchase...

High court overrules Harish. (Yosef Harish, Israeli banks)
May 16, 1990... High Court Overrules Harish The Supreme Court has overruled Attorney General Yosef Harish and ordered him to initiate proceedings against the the senior banking industry officials accused of regulating the prices of their banks' stocks in the...

IAI-East European passenger plane. (Aircraft Industry)
May 16, 1990... IAI-East European Passenger Plane Israel Aircraft Industries and an Eastern European country are negotiating the joint production of a 30-seat turbo-prop passenger plane of the latter's design. The aircraft was displayed at a Paris airshow,...

El Al-Israline deal scrutiny. (Aviation)
May 16, 1990... El Al-Israline Deal Scrutiny The Ministry of Trade and Industry's Examiner of Monopolies, Ze'ev Galmor, will examine the El Al - Israline agreement to determine if the deal merging their reservations systems involved restraint of trade (see...

Direct central bank money sales. (Banking)
May 16, 1990... Direct Central Bank Money Sales As part of the planned change in the format of its weekly monetary tenders, the Bank of Israel is looking into the possibility of selling NIS 40 million a week to the public through the commercial banks, which...

Lieberman okayed for Mizrahi. (Jack Lieberman, United Mizrahi Bank)(Banking)
May 16, 1990... Lieberman Okayed for Mizrahi The Bank of Israel will not object to Australian businessman Jack Lieberman's purchase of a controlling interest in the United Mizrahi Bank. The central bank, after examining documents provided by Lieberman's...

Questionable Leumi New York financing. (Bank Leumi Trust Company of New York)(Banking)
May 16, 1990... Questionable Leumi New York Financing Bank Leumi Trust Company of New York gave the U.S. firm Integrated, which is now seeking protection under the American "Chapter 11" recovery laws, $10 million in credit without sufficient collateral. Of...

Regulation and crash background. (Israeli bank stock manipulation)(Banking)
May 16, 1990... Regulation and Crash Background During the early 80's, several of the banks, including Bank Leumi, Bank Hapoalim, Israel Discount Bank and United Mizrahi Bank, took various steps to "regulate" -- artificially inflate -- the price of their...

Doubling ICL turnover. (Israel Chemicals) (Chemicals )
May 16, 1990... Doubling ICL Turnover Israel Chemicals board chairman Rafi Eitan, who steps down at the end of the month after four years in this position, claims that his ability to withstand pressures from government officials has contributed to the...

Morgan Stanley to manage Leumi fund. (Banking)
May 16, 1990... Morgan Stanley to Manage Leumi Fund The U.S. brokerage office Morgan Stanley will manage the overseas stock exchange transactions of all Bank Leumi mutual funds. After some loose ends with the Israeli tax authorities are tied up, Morgan, as a...

Monetary tender interest rate down. (Bank of Israel)(Banking)
May 16, 1990... Monetary Tender Interest Rate Down The interest rate on the Bank of Israel' monetary tender offered to the commercial banks fell to an annual 13.34%. Since the beginning of March, the interest rate has dropped by 4.7%. Central bank officials...

Recanati exempted from prior approval. (Rafael Recanati)(Banking)
May 16, 1990... Recanati Exempted from Prior Approval The Bank of Israel has exempted Rafael Recanati from the need to receive the prior approval required of other bank-purchase candidates before submitting his bid to regain control of the IDB Group and Israel...

Mortgage interest down. (Tefahot Israel Mortgage Bank)(Banking)
May 16, 1990... Mortgage Interest Down The Tefahot Israel Mortgage Bank has announced a cut in mortgage interest rates -- the first in the last six months. The reduction, 0.5%, is a result of the recent fall in the bank's cost of raising capital, both on and...

Implications on bank sales. (Israeli banks' controlling interests)(Banking)
May 16, 1990... Implications on Bank Sales Bank of Israel officials are examining the implications that the Supreme Court of Justice decision, which paves the way for the criminal prosecutions of former leading bank executives, will have on the planned sale...

Israel Chemicals sale. (Chemicals)
May 16, 1990... Israel Chemicals Sale Negotiations for the sale of up to a 50% share in Israel Chemicals are expected to be resumed shortly. The representatives of five foreign investment groups are expected to come to Israel in the next few weeks to examine...

Bynet synchronic data compressor. (Communications)
May 16, 1990... Bynet Synchronic Data Compressor Rad Computer Communications, a member of the Bynet group, has completed development of "Trimlink 800", which compresses data synchronically into eight communications lines, using statistical tools for locating...

Ascom to control Efrat. (Efrat Future Technologies)(Communications)
May 16, 1990... Ascom to Control Efrat The Swiss Ascom company will acquire control of Efrat Future Technologies in a deal estimated to be worth $12 million. Ascom already holds some 13.22% of Efrat shares, in which it invested $6 million. Ascom plans to...

Fail-proof network. (Teldor)(Computers)
May 16, 1990... Fail-Proof Network The Teldor computer company has been awarded a large government contract involving the installation of a communications network and a fail-proof computer. Among the firms competing for the tender were IBM Israel, Digital...

Computerized personal telephone directory. (Autosoft)(Computers)
May 16, 1990... Computerized Personal Telephone Directory The Autosoft company has developed the "144" computerized personal telephone directory. The user can locate particular listings by providing portions of either the name or phone number. Each 144 entry...

Eisenberg's profits due to Israel Corp. (Eisenberg Group)(Conglomerates)
May 16, 1990... Eisenberg's Profits Due to Israel Corp. According to an economic analysis carried out by National Consultants of the Bank Leumi Group, the profits of Piryon, General Bonded Warehouses, Israel Cold Storage and Supply and Israel Lighterage and...

Sharon heads kibbutz rescue plan. (Emmanuel Sharon)(Conglomerates)
May 16, 1990... Sharon Heads Kibbutz Rescue Plan Former Treasury director general Emmanuel Sharon (no connection with Arik Sharon), has accepted the chairmanship of the committee that will oversee the financial rescue plan for the kibbutzim. Participants at a...

Canadian immigrant construction. (Construction)
May 16, 1990... Canadian Immigrant Construction A Canadian-owned company has applied to the Israel Lands Administration for land to build 1000 housing units for new immigrants in the Tel Aviv area. The company, one of the largest construction firms in Canada,...

U.S. bank consortium construction loans. (Construction)
May 16, 1990... U.S. Bank Consortium Construction Loans The U.S. Allen Investment Bank is negotiating with the Contractors Association, through its president Yona Mordechai, to set up a banking consortium that will put up $250 million to finance construction...

Disagreements delay mass housing. (new immigrants)(Construction)
May 16, 1990... Disagreements Delay Mass Housing According to the Contractors Association, there is apparently little chance of speeding up the construction of apartments for new immigrants until differences between the government and the building contractors,...

Treasury unhappy with agreements. (Israel Treasury, land agreements, and housing)(Construction)
May 16, 1990... Treasury Unhappy with Agreements The Treasury plans to prevent the implementation of the agreements concerning land allocation for construction that have been worked out between the housing ministry and the building contractors. Accountant...

Rada to raise $5 million in U.S. (Rada Electronics Industries)(Electronics)
May 16, 1990... Rada to Raise $5 Million in U.S. Rada Electronics Industries, which designs and manufactures computers, avionics and automated test equipment, plans to raise at least $5 million in the U.S. The issue price would be higher than what Rada stock...

First-quarter Scitex profits. (Electronics)
May 16, 1990... First-quarter Scitex Profits During the first quarter of 1990, Scitex, had net earnings of $14.1 million, an increase of 139% over the same period a year earlier. First-quarter sales volume was approximately $70 million, an increase of 35%;...

Slight decline in Optrotech profits. (Electronics)
May 16, 1990... Slight Decline in Optrotech Profits Optrotech had net first-quarter earnings of $866,830, down from $929,442 in the first quarter of 1989, with turnover increasing to $20.2 million, compared with $17.3 during the same period a year earlier, an...

Abjac issue abject failure. (Energy and Fuels)
May 16, 1990... Abjac Issue Abject Failure Abjac's securities issue on the Tel Aviv Stock Exchange, in which the company had hoped to raise NIS 6 million, ended in complete failure. The issues' three underwriters, Leumi and Co., the Israel General Bank and...

Strategies for the 1990s. (Exports)
May 16, 1990... Strategies for the 1990s According to Bank Leumi economists, Israel should prepare for the 1992 EEC economic unification by concentrating its efforts in knowledge-intensive industries. Israel has no comparative advantage in the traditional...

Speeding up construction. (Association of Engineers)(Exhibitions, Conferences, & Seminars)
May 16, 1990... Speeding up Construction The Association of Engineers in cooperation with the Ministry of Housing and Construction, will hold a conference on speeding up construction, to be held June 12 - 13 at Kfar Hamaccabiah in Ramat Gan. Prefabricated...

Doing business with Japan. (Far East Cultural Center, Israel Export Center)(Exhibitions, Conferences & Seminars)
May 16, 1990... Doing Business with Japan The Far East Cultural Center, in cooperation with the Israel Export Institute, will conduct a seminar for businessmen and senior executives, to be held under the auspices of the Japanese Embassy and the Israel-Japan...

Sanbar at Jeane Kirkpatrick Forum. (Moshe Sanbar)(Exhibitions, Conferences & Seminars)
May 16, 1990... Sanbar at Jeane Kirkpatrick Forum Speaking at the Jeane Kirkpatrick Forum, the chairman of Bank Leumi's board of directors, Moshe Sanbar, declared that Israel must utilize the advantages it still has as a bridge between Eastern and Western...

BIRD in Minnesota. (Binational Industrial Research and Development Foundation)(Exhibitions, Conferences & Seminars)
May 16, 1990... BIRD in Minnesota Ed Mlavsky, executive director of the U.S.-Israel Binational Industrial Research and Development (BIRD) Foundation, spoke with fifty-five executives from Minnesota high technology firms at a seminar on May 7 that had been...

Maquette collapse investigation. (Fashion)
May 16, 1990... Maquette Collapse Investigation The Securities Authority has begun an investigation into the collapse of Maquette, an Acre based publicly traded leather fashion manufacturer and the activities of its principal shareholders, the Kaletzky family....

Requests for end to political appointments. (Finance )
May 16, 1990... Requests for End to Political Appointments Prof. Joseph Gross, chairman of the Government Companies Authority's advisory committee and authority director general Ze'ev Refuan are expected to ask the Knesset finance committee to expedite...

Overseas loan change mooted. (Bank of Israel)(Finance)
May 16, 1990... Overseas Loan Change Mooted The Bank of Israel is examining the possibility of raising the interest ceiling on business loans from foreign banks, or even repealing it altogether. Any change, however, will have to be made in coordination with...

Clal Leasing issue authorized. (Finance)
May 16, 1990... Clal Leasing Issue Authorized The Clal Leasing bond issue, which was held up by Knesset member Dan Tichon (see ICEN vol. 175, no. 21.2), has been authorized by the Knesset finance committee. The issue was debated by the committee in connection...

Immigration budget approved. (Finance)
May 16, 1990... Immigration Budget Approved After a lengthy discussion, the Knesset approved the Treasury's plan for immigration absorption last week. The government submitted a supplementary budget for this purpose, adding NIS 2.447 billion to finance...

Data bank for investors. (Finance)
May 16, 1990... Data Bank for Investors Matimop (The Israeli Industrial Center for R & D), established 13 years ago by the Manufacturers Association, the Histadrut labor federation's Hevrat Ha'ovdim holding company and the Kibbutz Industries Association, is a...

April COL up 2.5%. (Finance)
May 16, 1990... April COL Up 2.5% The cost-of-living index for April, published yesterday by the central bureau of statistics, indicates a general increase in prices of 2.5%, the highest jump in the COL during 1990, but the lowest rise during the month of...

Tabori and Jaf-Ora sign agreement. (Food, Beverages and Tobacco)
May 16, 1990... Tabori and Jaf-Ora Sign Agreement An agreement to merge the Tabori Soft Drinks company with Jaf-Ora was signed last week after intensive negotiations between the two companies' managers and banks. A new company -- JafOra-Tabori -- will be...

Carmel invests in quality. (Food, Beverages and Tobacco)
May 16, 1990... Carmel Invests in Quality Carmel Wines (Societe Cooperative Vigneronne des Grandes Cave) is investing heavily to ensure that the quality of its wines is improved to the utmost and to this end, $10 million has been allocated for upgrading...

Blue Shield goes dead. (Health)
May 16, 1990... Blue Shield Goes Dead The largest U.S. medical insurance company, Blue Shield - Blue Cross, will cover part of the cost of treatment for psoriasis patients in Israel. The company, which insures tens of millions of people, announced last week...

Recommended securities bill. (Legislation)
May 16, 1990... Recommended Securities Bill The Treasury has distributed copies of its proposed Amendment 10 to the Securities Law among various government ministries. The proposal would limit the legal authority of the Tel Aviv Stock Exchange, giving the...

On-line data service. (Legislation)
May 16, 1990... On-Line Data Service The Justice Ministry's Registrar of Companies, which maintains one of Israel's most extensive commercial data sources, has decided to make this information accessible to PC owners. This data can now be accessed from...

Diatech's NIS 250,000 deal. (Medical Equipment)
May 16, 1990... Diatech's NIS 250,000 Deal Diatech, manufacturers and developers of diagnostic kits for infectious diseases, has signed a NIS 250,000 deal with one of the largest pharmaceutical companies in England. (The company does not wish to be identified...

Kadmany wins tender. (Metal and Electrical Industry)
May 16, 1990... Kadmany Wins Tender Kadmany, manufacturers of heavy steel elements, has won the Israel Electric Corporation's NIS 25 million tender to build the steel infrastructure for the new power station in Hadera. This figure does not include the costs...

Optics exports. (Optics)
May 16, 1990... Optics Exports Israel's 1989 exports of optics equipment were $16.5 million, similar to the 1988 total. Exports were mainly to Germany, France, the U.K. and U.S. In 1989, Israel's optics imports totaled $15.8 million. According to the Industry...

Israel Institute of Innovation. (Paper and Publishing)
May 16, 1990... Israel Institute of Innovation The Meitar Israeli Institute of Innovation is a non-profit organization established to assist the technological development and industrial application of innovations. One of the most important things the...

Modiin-Maariv to raise capital. (Paper and Publishing)
May 16, 1990... Modiin-Maariv to Raise Capital A special meeting of Modiin shareholders last week authorized new appointments to the firm's board of directors and approved changing the company's name from Modiin Publishing House to Maariv-Modiin Publishing in...

Maxwell controls Keter. (Robert Maxwell; Keter Publishing House) (Paper and Publishing)
May 16, 1990... Maxwell Controls Keter Robert Maxwell has signed an agreement to acquire a 51% holding in the Keter Publishing House from Clal Industries, for $5 million. Clal received $1 million upon signing the agreement and will receive an additional four...

Elscint in India.
May 23, 1990... Elscint in India Elscint, after extensive negotiations, has become the first Israeli industrial company to successfully penetrate the Indian market, in spite of the Indian government's reluctance to encourage trade with Israel. Elscint has sold...

International tender at last.
May 23, 1990... International Tender at Last The Ministry of Housing and Construction is preparing an international tender, in which both Israeli and foreign companies may participate, for the construction of two neighborhoods for new immigrants. Each...

Ewes also to India.
May 23, 1990... Ewes Also to India Kibbutz Ein Harod has exported 30 Avasi ewes to India at $500 a head--far more than cows fetch. An Indian expert who came to Israel for the purchase chose the Avasi, an ancient breed, because of its resistance to disease,...

Israel may sign GATT's valuation provision. (General Agreement on Tariffs and Trade)
May 23, 1990... Israel May Sign GATT's Valuation Provision Israel will soon accept the valuation code of the General Agreement on Tariffs and Trade (GATT). Signing the code will compel Israeli customs officials to honor all foreign suppliers' invoices for...

Soviet bank heads in Israel. (Vostok Bank)
May 23, 1990... Soviet Bank Heads in Israel Directors of the Soviet Vostok Bank, the first Soviet non-government commercial bank and the largest in the USSR, have visited Israel with the intention of forming ties with banking and business elements here. The...

Israeli software in Kremlin.
May 23, 1990... Israeli Software in Kremlin A software program developed by Dotal Engineering Services was recently installed in Moscow's Kremlin. The program, which Dotal translated into Russian, manages the building's control system, electricity and air...

Awards for Degem educational programs.
May 23, 1990... Awards for Degem Educational Programs Degem Systems, which develops technical training software, has won prestigious awards for its libraries of physics and electronics teaching aids from the Worldidac international technological instruction...

Polish for Nir Lat's roof-sealants.
May 23, 1990... Polish for Nir Lat's Roof-Sealants Kibbutz Nir Oz's Nir Lat company, a manufacturer of sealing and finishing materials for the construction industry, has signed an export agreement with a large privately-owned Polish company, as yet unidentified....

Service broadcasts popular. (Advertising and Public Relations)
May 23, 1990... Service Broadcasts Popular A survey of viewer attitudes conducted by the Teleseker Institute for the Israeli Association of Advertisers has found that 55% of television viewers would have no objections to television commercials. The survey also...

Water cuts and farmer's indemnity. (Agriculture)
May 23, 1990... Water Cuts and Farmer's Indemnity Labor Knesset member Micha Goldman has submitted a private member's bill to allocate NIS 80 - NIS 100 million to compensate farmers for low rainfall and the Water Commission's recent decision to reduce water...