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September 09, 1994 - Image 43

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-09-09

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

Your financial
.
future. ,. Get lucky...or get serious. .
., . 4 , . , . 4 ., MUTUAL FUNDS...

Jordan, Motorola
Ready To Sign

Jordan is ready to sign a hotly-
debated $55 million deal with
Motorola to operate the kingdom's
first mobile cellular telephone
system together with local
company Jordan Mobile Tele-
phone Services Company
(JMTSC).
"The license contract with
(JMTSC) and its international
operator Motorola will probably
be signed within a month," said
Ahmad Nawawi, head of the
state-run Telecommunications
Corporation (TCC).
The long-awaited deal has cre-
ated controversy because many
Jordanians believe using Mo-
torola will be an indirect breach
of the Arab boycott.
Jordan remains committed to
the primary boycott — dealing
with Israeli companies — despite
the peace talks, but it has de-
fended the phone deal by saying
the contract will be signed with a
Jordanian firm.
Jordan's army, which is de-
pendent on U.S. aid, used Mo-
torola to install a costly
communications system years
ago.
JMTSC and Motorola were
among seven companies which
submitted offers after the tender
was announced in November
1993.

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Exports, Trade
Fuel Activity

Rising exports and retail trade
fueled economic activity in Israel
in the past three months as in-
flation flared up to 17 percent and
unemployment and tourism re-
ceipts fell, the Central Bureau of
Statistics reported.
Tourism, measured by the
number of tourist arrivals by air,
continued dropping by 15.8 per-
cent in August after falling 21
percent in the previous two
months.
Hotel stays dropped even more
sharply by 44.9 percent, reflect-
ing the impact of the Hebron mas-
sacre.

The Bank of Israel's "S", or state
of the economy indicator, rose
only 0.2 percent in July, reflect-
ing a significant drop in the rate
of economic expansion.
During the first quarter of the
year, the index jumped 3.9 per-
cent compared with only 1.57 per-
cent in the following four months,
the central bank's research de-
partment reported.

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43

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