BUSINESS
INTRODUCING
THE NEW 1994
GALANT
." •
24 Month
Lease
1994
3000 GT
199"
NEW '94
DIAMANTE
/iirop
•Plus tax, title and destination. Rebates included. ' • 24 Mo. or 42 Mo. closed-end lease to qualified buyers. All rebates included. Lease payments and sec. dep. of $350, $500
Down on Galant, 51,500 down on Diamante and 3000GT, 45,000 miles limitation on 42 mo. lease. 150 per mile for excess mileage. Lessee has no obligation to purchase vehicle at
lease end. Buyer has option to purchase at lease end for amount determined at lease inception. To get total payments, multiply by 24 or 42.
353-0910 #1 Dealer
MITSUBISHI Arti,SOUTHFIELD
29310 TELEGRAPH ROAD, JUST NORTH OF 12 MILE • SOUTHFIELD
1-800-60 MITSU
CORPOFtATE DEPARTMENT
• NEW AREA CODE??
r
25% OFF
• BUSINESS CARDS
THE DETRO I T JE W IS H NE WS
• WEDDING, BAR/BAT MITZVAHS
B30
On All
Announcements
And Invitations
• CORPORATE PARTY INVITATIONS
• MOVING ANNOUNCEMENTS
• STATIONERY
good with coupon only
L
Debbie Goldfine Weisserman
810-569-9792 • Tower 14 • Southfield. Michigan
Advertising in The Jewish News Gets Results
Place Your Ad Today. Call 354-6060
Trade Deficit
Rises Slightly
Reforms May
Bring Trade
Israel's trade deficit rose mar-
ginally last year to $6.18 billion
from $6.14 billion in 1992. In.
1991, the deficit totaled $5.48
billion.
Exports grew 13 percent to
$14.1 billion, while imports rose
9 percent to $20.3 billion. Ad-
justing for seasonality and ex-
cluding diamonds, airplanes
and ships, the trade deficit in
the second half of 1993 fell 10
percent, compared with the first
half of the year.
This continues the trend
whereby the deficit in the first
half of 1993 was 2 percent low-
er than in the second half of
1992. Exports as a percentage
of imports rose to 69 percent
last year from 67 percent in
1992.
The star performers last
year were machinery and elec-
tronics, which had a 21 percent
rise in exports. Chemicals ex-
ports increased 21 percent. Rub-
ber and plastics exports were
up 7 percent. Exports of food,
textiles, wood and paper all fell
between 2 and 4 percent. Dia-
mond exports rose 13 percent
to $3 billion from $2.6 billion in
1992.
Seasonally adjusted dia-
mond exports were 7 percent
higher on average in the second
half than in the first. Agricul-
tural exports were steady at
$560 million, following two
years of decline.
Some 2 billion in Israel shekels
(NIS) could be invested in se-
curities traded overseas if the
Finance Ministry's plans for lib-
eralizing restrictions on finan-
cial institutions are lifted this
year, according to Meir Shavit,
supervisor of insurance and cap-
ital markets.
Mr. Shavit said the move to-
ward liberalization will affect
provident funds, insurance com-
pany investments and pension
funds.
In 1991-92, the ministry lib-
eralized the financial sector by
allowing mutual funds and pri-
vate investors to hold securities
traded overseas.
Although the ministry has
not finalized plans for how
much provident funds, pension
funds and insurance companies
will be allowed to invest over-
seas, Mr. Shavit said about 1
percent to 2 percent of the total
funds is in the ball park.
He estimated that about NIS
100 billion in funds is available
to the three financial groups for
total investment, which is
where he derived the NIS 1-2
billion range available for in-
vesting in foreign markets.
Mr. Shavit said the ministry
has laid the groundwork for
making the investments, and a
law allowing them is in a Knes-
set committee.
Haifa Chemicals
Woos Chinese
Haifa Chemicals is negotiating
with Chinese government offi-
cials in an attempt to entice
them into becoming a partner
in the concern's expansion of its
potash production plant in the
Negev.
Potential sales to the Chi-
nese could reach $80 million for
200 tons of potash annually,
Haifa Chemicals general man-
ager Ami Cohen said.
The company recently
opened a permanent sales office
in Beijing, and said it already
has sent potash to the Chinese
for a trial experiment.
Haifa Chemicals local plants
produce some 300,000 tons of
potash annually. With expansion
of its facilities in the Rotem re-
gion, the initial increase in pro-
duction will be 100,000 tons, with
the second stage boosting pro-
duction by another 100,000 tons.
Together with its plants in
the United States, where it pro-
duces some 100,000 tons of
potash, Haifa Chemicals man-
ufactures some two-thirds of the
world's potash production, Mr.
Cohen said.
Robomatix Raises
$13.5 Million
Robomatix Technologies has
raised $13.5 million through a
public offering on the over-the-
counter market in New York.
Robomatix managing direc-
tor Zarni Aberman said the pro-
ceeds will be used to help the
Israeli company break into new
fields and develop new prod-
ucts.
The consortium of under-
writers consists of the U.S.-
based Barrington Capital
group, Discount Underwriting
and First International and Co.
The company said it is in the
final stages of developing its
ASP semiconductor chip for use
in high-speed computing ca-
pacity when required.
Robomatix's systems are
used by customers in Israel, the
United States, Europe and the
Far East, and include such com-
panies as Volkswagen, Ford,
General Motors, BMW and
Rolls Royce.
The company is owned by
German Jewish industrialist
Heinrich Manderman, Robo-
matix management and work-
ers.