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December 03, 1993 - Image 33

Resource type:
The Detroit Jewish News, 1993-12-03

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

"Our Moms and Dads Got Their
Mortgages At World Wide Financial!"

make available information on
bank accounts in order to catch
tax evaders.
The treaty signed between
the two countries includes a pro-
vision requiring the tax au-
thorities of both countries to
exchange information for the
purpose of uncovering tax avoid-
ance. ❑

Planning Center

Sol Kerzner, a South African
hotelier, plans to invest "tens of
millions of dollars" in the es-
tablishment of a tourist center
in Timna Park similar to Dis-
neyland, Tourism Minister Uzi
Baram said last week.
Speaking at the Center for
Development of the Negev
annual conference, Mr.
Baram said leading European
tourism companies have
recently expressed an interest
in establishing tourism firms
He said there is a shortage of
approximately 50,000 hotel
rooms in the country. Accord-
ing to a survey on hotel rooms
in Jerusalem, the city will be
short 2,000 rooms until the year

Aaron & Ben Wasserman

Alex Andra Siegel

Investment And
Loan Guarantees

Investments would drop by half
a billion dollars a year and im-
migration would fall by a third
in Israel in the absence of the
$10 billion in U.S. loan guar-
antees, according to a Bank of
Israel study released last week.
The study shows that al-
though the country's foreign
debt would drop without the
guarantees, investments and
employment would also fall,
negatively affecting immigra-




Guarantees also
operate as a
security net.

The guarantees also operate
as a security net in case of an
increase in the rate of immi-
gration or other economic
changes. Should the economic
situation worsen in the former
Soviet Union, the study predicts
it could double immigration
from there in the coming years.
Under such a scenario, both
investments and the foreign
debt are expected to grow
significantly. In the case of the
foreign debt, it will grow
beyond the sum of the loan
guarantees. ❑

Seth Byck, 6 Months

Nicoll Fuller


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