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March 25, 1994 - Image 60

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-03-25

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

Business

i rCAPITAL

mORTGAGE

FUNDING

The Best Mortgage Bank

Wishing All Our Family
Friends And Clients

A

HAPPY AND HEALTHY
PASSOVER

jrCAPITAL
IVIORTGAGE

FUNDING

The Best Mortgage Bank

MAIN OFFICE
20475 WEST 10 MILE
SOUTHFIELD, MI 48075

DOWNTOWN ROCHESTER
824 MAIN STREET
ROCHESTER, MI 48307

PLYMOUTH CANTON
NORTHVILLE

(313) 453-6646
(810) LOW-RATE (810) 652-4040

569-7283

T H E D ETR O T J E WIS H NE WS

Best Wishes
To All Our Customers & Friends,
For A
Healthy, Happy
Passover

60

BuicK mama
r- C=I I• ■ I MI5 C H INF

Volkswagen

LOTUS

NISSAN

Grand River at 10 Mile • Farmington Hills • 810-471-0800

Next time you feed your face, think about your heart.

Go easy on your heart and start cutting back on foods that are high in saturated
fat and cholesterol. The change'll do you good.

American Heart Association

WERE FIGHTING FOR YOUR LIFE

Job Figures
`Meaningless'

Help For
Somalia Airport

Israel economists disputed un-
employment figures for the ter-
ritories which the Central
Bureau of Statistics released.
The figures claim that unem-
ployment rose to an average of
6.7 percent last year compared
to 4.2 percent in 1992.
An-Najah University eco-
nomics professor Hisham
Awartani said of the figures,
"They're meaningless."
He noted that educated
Palestinians such as physicians
and scientists are forced into
menial jobs as a result of the
economic recession in the Gulf
states and poor local economic
conditions.
According to Mr. Awartani,
well-informed economists esti-
mate that unemployment in
Gaza is not lower than 50 per-
cent, although he believes it is
closer to 60 percent. They esti-
mate that unemployment in the
West Bank is at least 35 per-
cent.
The Palestinian workforce,
which includes those who are
employed and those who are
looking for work, grew 1.8 per-
cent to 339,000 last year, com-
pared with 333,000 in 1992.
An average of 116,000 terri-
tory workers worked in Israel
in 1992 compared to 84,000 last
year. Out of last year's total,
61,000 worked in construction
and 9,000 in agriculture.

Hatehof, an Israeli company
based in Upper Nazareth, has
been chosen by the United Na-
tions to build and operate fire
fighting systems for the Mo-
gadishu, Somalia, airport.
The United Nations was
forced to issue an international
tender for the fire fighting ser-
vices after American forces were
thinned out in Somalia and fire
fighting systems were removed
along with the soldiers who op-
erated them.
The Hatehof factory, which
manufactures fire fighting sys-
tems for factories, won the ten-
der.

Natural Gas Deal
In Works?

Enron Corporation, the U.S.-
based energy company, has
held talks with the Israel En-
ergy Ministry and the Israel
Electric Corporation regarding
the sale of natural gas to Israel.
Enron, based in Houston,
Texas, is interested in helping
bring in and process natural gas
from a number of Persian Gulf
states in which it has business
interests, Israel Radio report-
ed.
Former U.S. Secretary of
State James Baker, an adviser
to Enron, discussed the issue
during his recent visit to Israel
with Energy Minister Moshe
Shahal and officials from the
Electric Corp.
According to Israel Radio,
Enron has proposed not only to
be responsible for shipping the
natural gas to Israel but for es-
tablishing terminals, pipeline
and processing installations.
The total investment in the
large-scale project is expected
to be close to $4 billion, the re-
port said.

ADL Praises
Boycott Probe

The Anti-Defamation League
(ADL) testified in Washington
against the Arab economic boy-
cott of Israel and companies
that do business with Israel and
praised the Clinton adminis-
tration's investigation of the ef-
fect of the boycott on American
business.
In testimony submitted to
the International Trade Com-
mission hearings on the Arab
boycott, Melvin Salberg, ADL
national chairman, commend-
ed the International Trade
Commission's effort "to investi-
gate and quantify the damage
to U.S. companies imposed by
the Arab boycott."
He said this action "under-
scores the message that the
U.S. will not tolerate an anti-
free trade policy that punishes
American business."
Mr. Salberg noted that, after
45 years, "the boycott still has
a 'chilling effect' on interna-
tional business decisions...in-
timidated by possible Arab
economic retribution, many
large companies decide on their
own to avoid doing business
with American companies that
trade with Israel."
Mr. Salberg said while Arab
leaders have given assurances
to U.S. officials that the sec-
ondary boycott is no longer en-
forced, U.S. anti-boycott
statistics do not bear this out.
The Trade Commission's in-
vestigation was ordered in No-
vember by President Clinton's
trade representative, Mickey
Kantor. At the conclusion of the
year-long probe, a report ana-
lyzing the economic costs to U.S.
businesses because of the eco-
nomic boycott will be issued.
Since Israel's creation in
1948, the Arabs have boycotted
it. The Arab League imposed
a secondary boycott on compa-
nies doing business with Israel
in 1951.

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