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Boycott Blues

The six member states of the Gulf Cooperation
Council say they won't adhere to the secondary and
tertiary Arab economic bans.

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he six member states of the ners.
"As a result of these measures
Gulf Cooperation Council
(GCC) dealt a death-blow to and for all practical purposes, the
the secondary and tertiary secondary and tertiary boycotts
Arab economic boycotts against are no longer a threat to the in-
Israel when they announced they terests of these partners," the
would all stop adhering to the statement said.
Mr. Christopher told reporters
decades-old bans.
The GCC includes Saudi Ara- that the GCC agreed to stop en-
bia, Kuwait, Oman, Qatar, forcing the secondary and tertiary
Bahrain and the United Arab boycotts and not to discriminate
against American companies.
Emirates.
He said the Gulf states' com-
Under the secondary boycott,
Arab countries blacklist compa- mitment was "a very significant
nies which do business with Is- step toward realizing the U.S.
rael. Contacts with companies goal of ending the Arab boycott."
In New York, Israel Foreign
which deal with black-listed com-
panies are banned under the ter- Minister Shimon Peres said the
decision was "an additional move
tiary boycott.
A GCC statement issued after in dismantling the walls of hatred
talks between Saudi Arabian For- and separation and boycott."
Israel Finance Minister Avra-
eign Minister Saud al-Faisal and
U.S. Secretary of State Warren ham Shohat said the move would
Christopher in New York said the provide a boost to the Israeli econ-
six states had taken "necessary omy.
The move is expected to allow
measures" to protect the interests
of the GCC and its trading part- many multi-national firms to do

T

LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES

Sept. 23 Sept. 30 Change

Symbol

Name

Exchange

SCIXF

Scitex

NASDAQ

'21.75

5

22.50

+s0.75

ECILF

ECI Telecom

NASDAQ

'17.00

'17.63

+$0.63

TEVIY

Teva Pharm

NASDAQ

'28.00

'28.38

+-'0.38

I EC

PEC Israel

NYSE

'29.38

'29.25

5

ELBTF

Elbit Computers

NASDAQ

'26.00

'24.25

-'1.75

ELT

Elscint LTD

NYSE

'2.38

'2.13

-'0.25

ELRNF

Elron Electronics NASDAQ

'10.88

'10.25

-'0.63

TAD

Tadiran

NYSE

'23.13

'21.75

-51.38

CMVT

Comverse

NASDAQ

'10.13

'10.50

-1-'0.38

LANTF

Lannet Data

NASDAQ

'9.38

'9.00

-'0.38

ISL

First Israel Fund NYSE

'13.63

'13.25

5 0.38

0.13

Source: Allen Olender, Prudential Securities,
West Bloomfield.

