PICTURE YOURSELF BEHIND THIS WHEEL.
`V Indicator Rises
Economic activity in Israel con-
tinued expanding in Septem-
ber, according to the Bank of
Israel's `S' indicator.
The '5', or state of the econo-
my, indicator rose 0.4 percent
last month, following a 2 per-
cent jump in August, according
to preliminary figures released
last week.
During the third quarter, the
index rose 3 percent compared
to a flat second quarter. The in-
dex rose a more moderate 1.7
percent in the first quarter.
Retail trade was brisk last
month, rising 4.2 percent, and
was 15.5 percent higher than
the year before. The central
bank noted that the increase re-
flected the rapid growth in pri-
vate consumption.
By contrast, imports fell 3.5
percent after jumping 22.4 per-
cent in August as a result of the
backlog created by the civil ser-
vants' strike in July.
Geotek Deal Signed
Geotek Industries Inc. an-
nounced last week that a part-
nership, including well-known
investor George Soros, signed
a definitive agreement to invest
$40 million in Geotek, a U.S.-
Israeli telecommunications
company traded over-the-
counter in New York.
Geotek's shares surged on
the news, rising by $2 to $12 in
early afternoon New York trad-
ing on a huge volume on 3.6
million shares. Geotek issued a
press release saying it will is-
sue preferred stock, convertible
into its common stock at $9 per
share.
In addition, Geotek said it
has formed a strategic alliance
with the Soros group to acquire
licenses and construct digital
wireless telecommunications
networks in various overseas
markets.
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CADILLAC
CREATING A HIGHER STANDARD
Economy Is Expanding
The economy took off last
month, expanding faster than
the first quarter's record levels,
State Revenues Director Yoram
Gabbai announced last week.
Value Added Tax collection
figures have increased since
September after a four percent
drop during the April to August
period, according to Mr. Gab-
bai.
In September, the trend was
reversed when half the decline
was eliminated. The rise in
VAT revenue gained strength
last month, even surpassing the
record first quarter's perfor-
mance.
VAT receipts are considered
a good indicator of economic ac-
tivity.
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Symbol
Name
Exchange
Oct. 29
Nov. 5
Change
SCIXF
Scitex
NASDAQ
'24.63
'23.38
-51.25
ECILF
ECI Telecom
NASDAQ
M8.75
5
47.75
5 1.00
TEVIY
Teva Pharm
NASDAQ
'29.75
'31.38
+51.63
IEC
PEC Israel
NYSE
'31.88
'32.25
+50.37
ELBTF
Elb. rt Computers
NASDAQ
'38.25
'40.50
+52.25
ELT
Elscint LTD
NYSE
'5.00
'5.62
+50.62
ELRNF
Elron Electronics
NASDAQ
'18.25
'19.63
+51.38
TAD
Tadiran
NYSE
'35.13
'36.63
+5 1.49
CMVT
Comverse
NASDAQ
'15.38
'15.50
+50.12
'14.75
+52.37
LANTF
Lannet Data
NASDAQ
'12.38
Source: Allen (Mender, Prudential Securities,
West Bloomfield.
*GMAC SMARTLEASE 24 months. First pymt. plus $550 ref. sec. dep., $2,000.00 down plate of transfer fee due
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R
C:7)
INKE CADILLAC
I- 696 AT VAN - DYKE
g eneral
Family ,,„,„ etors 7
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7 5 8 - 1 8 0 0
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35