ECONOMIC NEWS SURVEY
20 November 1996
Foreign Investments in Israeli Shares Doubled Since Start of 1995
("Ma'ariv" Nov. 6)
Foreign investments in Israeli shares grew by $2.9-billion dollars in
less than two years, more than doubling from the start of 1995 and
reaching a level of $5.5-billion in September 1996. This was reported by
the Foreign Currency Control Division of the Bank of Israel. Total
financial investments in Israel from abroad went up by $4.7-billion to
$19.6-billion worth of Israeli financial assets.
The Split-up of Elbit Raises the Company's Value
("Ma'ariv" Nov. 6)
Economists of the Etgar Co., which is the Mizrahi Bank's investment
manager, estimate that the splitting up of the Elbit Corp. into three
separate companies would raise their value to between $342-million and
$379-million, representing a jump of betweeb 34 percent and 49 percent.
The division of the company's branches will enable them to focus on
business deals such as strategic partnerships with leading corporations,
and reduce the activities creating losses.
Israel and Palestinians to Jointly Market Middle East Tourism
("Yediot Aharonot" Nov. 5)
The Tourism Minister, Moshe Katsav, and the director of tourism of the
Palestinian Authority, Elias Freij, have decided to set up a joint work
team for tourist activities. They agreed on joint marketing of Middle East
tourism in North America, Europe and the Far East, with emphasis on the
upcoming year 2000, the second millenium of Christianity. The work team
will submit recommendations soon to both parties. Freij will soon meet
with a representative of the Vatican in Rome and the Mayor of Rome to work
out details for pilgrimages to Bethlehem, of which he is the mayor.
Minister Katsav promised that Israel would finance the major part of the
cost of the marketing operation.
Israeli Airline "Arkia" To Represent Thos. Cook
("Ma'ariv" Nov. 6)
The Israeli airline "Arkia" which concentrates on domestic and regional
flights, has signed an agreement to represent the large British travel
firm, Thos. Cook and Sons, which will now include Israel in its worldwide
travel bookings. For its part, "Arkia" will market the resorts around the
world connected to Thos. Cook, which has 1,800 offices and representatives
operating in about 100 countries.
Ideosoft Co. Signs Marketing Agreement with Polish Company
("Ma'ariv" Nov. 6)
The Ideosoft Co., which sells its products in America, has signed a
marketing agreement with the Optimus Co. of Poland, to help it penetrate
East European markets, where Optimus is the largest producer of computers
and computer programs. Ideosoft's multimedia products will be sold in
household sales in Poland by Optimus.
Giant Microsoft Corp. Buys Israeli Computer Program of Information Systems
for Managers
("Ma'ariv" Business Section, Nov. 5)
The Panorama Computer Program Systems Co. has developed a program for
Information Systems for Managers in the past three years, and the Giant
multinational Microsoft Corp. has bought it for $20-million. Computer
capabilities developed by Panorama will be used by Microsoft to create new
products to help Microsoft compete with its leading rival Orcal.
Korean Samsung Co. to Include Israeli Program in Fax Machines
("Ma'ariv" Nov. 11)
The Samsung Group in Korea will incorporate an Israeli computer program
for producing pictures in facsimile machines it produces. The program is
devised by the Net-Sin Co. of Herzliya and deals with clarifying and
improving pictures or graphic displays for fax transmissions. The Net-Sin
Co., which was founded by the Ron Superman Co., has also developed a
computer program for transmitting displays of slides on the Internet.
New Program Bridges Between Computer Systems
("Ma'ariv" Nov. 13)
An Israeli-American computer programming company, Ani-Soft, has
demonstrated in the U.S. an innovative program for bridging between
different computer systems. It works with regular systems or Windows
systems, allowing the transfer of data from one computer to another
without requiring a software program which operates both computers.
Unique Israeli Computer Program Wins Efficiency Award
("Yediot Aharonot" Nov. 13)
A unique computer program designed by the director of the British
Airways branch in Israel has won first prize in the annual competition for
efficiency proposals by the British Institute for Efficiency and Quality.
The director, Shimon Gabai, an Israeli, sought a simple solution to
transfer data from large international computer systems to personal
computers. The program is called "Shimon Systems" and can function in any
country.
Bad Debts by Israeli Importers are Among World's Lowest
("Ma'ariv" Nov. 13)
Israeli importers are regarded abroad as possessing credibility, since
they generate almost no unpaid "bad" debts. The level of such debts which
credit insurance companies are forced to cover is lower than most in the
world, including Europe, Japan and the U.S. This is based on a "Business
Data Israel" publication.
Foreign Currency Bank Credits Increase by $470-million
("Ma'ariv" Nov. 13)
The foreign currency reserves in the country have increased by
$7.6-billion since the beginning of 1995, and while bank credits in
foreign currency grew in October 1996 by $470-million reaching a record
total of $2.6-billion.