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February 19, 1993 - Image 113

Resource type:
Text
Publication:
The Detroit Jewish News, 1993-02-19

Disclaimer: Computer generated plain text may have errors. Read more about this.

Cost Of Living
Up In January

Police I.D.
Racist Youths

Rome (JTA) — Police in
Bologna have identified 45
youths between the ages of
16 and 25 suspected of
violating laws forbidding
racism and religious dis-
crimination and
disseminating Nazi and fas-
cist materials.
The announcement came
as the climax of an under-
cover investigation of
skinhead activities in the
city begun last September.
Police said seven of the
suspects were girls, and in
the homes of some of the
youths they had confiscated
weapons and banners bear-
ing swastikas.

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FEB RU AR Y

Tel Aviv (JTA) — Israel's
cost of living rose by 1.3 per-
cent during January, the
Central Bureau of Statistics
announced.
Most of the increase, 1.1
percent, was due to steeper
housing expenses and con-
struction costs, related to the
devaluation of the shekel
compared to the dollar.
The cost of living index for
January was published as
the Tel Aviv Stock Exchange
recovered from a jittery
week that saw sharp
declines in share prices.
Last week's fall in the
market was apparently due
to unsettling comments
made by Finance Minister
Avraham Shohat and Bank
of Israel Governor Jacob
Frenkel.
Discussing a steady in-
crease in share prices during
recent months, the two econ-
omic leaders sought to warn
unwary investors against
using their savings or taking
out loans in order to buy
stocks in the rising market.
Mr. Frenkel warned
would-be investors that "the
Stock Exchange is a balloon
— what goes up can come
down again." And Mr.
Shohat warned that the
Stock Exchange was not an
insurance company guar-
anteeing large profits.
Scared investors listened
to these remarks and rushed
to sell stocks they had
bought, causing the market
to dip.
But today, after explana-
tions by Mr. Shohat and Mr.
Frankel, investors returned
to the exchange to buy
again, and stocks rose
almost to the levels they had
been before the mini-panic.

113

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