CHANUKAH
12 MONTH CERTIFICATE
IS
4.25%
COMING
EARLY.
To
TIME
Middle East
Bank Proposed
4.3 1%
START
Israel will propose the establish-
ment of a Middle East develop-
ment bank at the Casablanca
economic conference next month,
Foreign Minister Shimon Peres
said.
The bank, based on the model
of the European Bank of Recon-
struction and Development which
was created to rebuild the post-
communist economies of Eastern
Europe and the former Soviet
Union, would be a major source
of financing for joint projects in
the region.
According to Mr. Peres, coop-
erative projects in the area pro-
vide the best antidote against
Islamic fundamentalism.
"The best weapon against
Hamas is economic," he said.
"The more the standard of living
rises in the region, the more vio-
lence will drop."
Mr. Peres talked with reporters
about his vision of a Middle East
transformed and rebuilt on eco-
nomic cooperation.
Investing in and developing
the region's economy is at least
as worthwhile as spending mon-
ey on defense, and improving
the area's economy is the best
means of dealing with the poten-
tial dangers to stability, he
said.
The Casablanca conference,
opening Oct. 31, will be attended
by hundreds of senior government
officials worldwide. In addition,
about 50 Israeli companies will
take part.
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Nice Deal
For NiceCom
Nice Systems of Israel announced
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purchase its subsidiary NiceCom
for approximately $53 million
plus an additional $5.5 million in
stock options. The acquisition will
be completed next month.
Since its founding in 1993, Nice
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velopment of solutions for inte-
gration of Local Area Network
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3COM, a Fortune 500 compa-
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and development in the United
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Ireland.
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First of Michigan
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Branch Manager
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26555 Evergreen Road / Southfield, Mich. 48076
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Dutch Treat
RSL Electronics of Israel has won
a $2.5 million tender to supply the
Dutch military with artillery
monitoring systems.
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(313) 245-0619 or 372-2600
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