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Jump In Net
Investments

Net

investments by foreigners
jumped 42 percent last year to
$751 million as they became
more active in the Tel Aviv
Stock Exchange and in the real
estate market, the Bank of Is-
rael reported.
Foreigners' locally-traded se-
curity holdings totaled $4.3 bil-
lion at the end of last year.
Net foreign investment in se-
curities increased $167 million
last year compared with a drop
of $35 million in 1992. Most of
the expansion occurred from
September through November,
when the stock market soared
and the agreement with the
PLO raised expectations for
peace.

Government
Firms For Sale

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6 Month Lease

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Revenues from the sale of gov-
ernment companies shot up
131.7 percent last year to
$1.465 billion as privatization
efforts began to bear fruit, Is-
rael Government Companies
Authority Managing Director
Yossi Nitzani reported.
The authority oversees the
government's 170 firms and its
privatization operations.
Some privatization activities
begun last year will continue
this year, including the sale of
Shikun Ufituah, Israel Chemi-
cals, Shekem, Tahal, Bezek,
Lapidot, Malam and El Al.

115 Profits Plunge

IF

2

Russia Eyes
Plant In Negev

Corner of Pontiac Trail & S. Commerce Rds.
WALLED LAKE

• 669-2010 •

ex= %tat and tear: Taal atpayrrents;
additional ional aqui . t Flus tax,

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•

IIS Intelligent Information Sys-
tems, whose shares are traded
in New York, reported its net
profit for the fourth quarter of
1993 plunged 95 percent to
$121,000 from $2.3 million in
the corresponding period in
1992. Earnings per share fell to
$0.01 from $ 0.18. Sales rose
121 percent to $28.2 million
from $12.7 million.
IIS CEO Jacob Herbst said
profits were down due to low-
er than anticipated sales in the
mainframe product range.
In addition, margins were
lower due to a higher amount
of OEM sales and the disposal
of older products from Decision
Data as the company changed
its inventory.

'

Russia is interested in estab-
lishing a shale oil plant and a
power station in the Rotem re-
gion of the Negev, Israel Energy
Minister Moshe Shahal an-
nounced on a visit to Beersheba.
He said he will encourage the