International Legal Conference
at
The Hebrew University of Jerusalem-Faculty of Law
"The Nature and Legitimacy of Judicial Review"
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
with
U.S. Supreme Court Justices
Antonin Scalia -
Symbol
Name
Exchange
Sept. 30
Oct. 7
SCIXF
Scitex
NASDAQ
'22.50
'21.88
and
ECI LF
ECI Telecom
NASDAQ
'17.63
'17.88
+$0.25
Ruth Bader Ginsburg
TEVIY
Teva Pharm
NASDAQ
'28.38
'29.56
+51.18
I EC
PEC Israel
NYSE
'29.25
'26.88
-$2.38
ELBTF
Elbit Computers
NASDAQ
'24.25
'24.00
ELT
Elscint LTD
NYSE
'2.13
'2.13
$0.00
ELRNF
Elron Electronics NASDAQ
'10.25
'9.75
-$0.50
TAD
Tadiran
NYSE
'21.75
'21.38
-$0.38
CMVT
Comverse
NASDAQ
'10.50
'11.25
+$0.75
LANTF
Lannet Data
NASDAQ
$9.00
'8.13
-$0.88
ISL
First Israel Fund NYSE
'13.25
'13.50
+$0.25
in conjunction with a
Mission to Israel and visit to Jordan
December 10 - 18, 1994
with
American Friends of The Hebrew University
U.S. participants also include:
Profs. Drew Days III, Jesse Choper, Gerald Gunther, Harold Koh, and
Cass Sunstein. Supreme Court Justices and law professors from
Israel, Canada, France, and Germany will participate.
For more information, or to be included on our mailing list for future events,
call the office of the American Friends at 1 800 969 AFHU.
-
-
-
Change
Source: Allen Olender, Prudential Securities,
West Bloomfield.
Step Two
Now that the Gulf Cooperation Council has canceled
its secondary boycott, Israel must make its business
climate more hospitable.
DAVID BAR-ILAN SPECIAL TO THE JEWISH NEWS
he Israeli government just-
ly points to the announced
cancellation of the 48-year-
old secondary boycott
against Israel by the six members
of the Gulf Cooperation Council
(GCC) as an important achieve-
ment.
That Saudi Arabia and the
emirates have finally fulfilled a
promise they made during the
Gulf crisis is a promising devel-
opment.
Politically, the promise to re-
move other intolerable restric-
tions and allowing travelers to
enter the GCC states with a pass-
port stamped by Israel, for ex-
ample, is even more encouraging.
The primary boycott - trade
T
•
6 Month CD
APy
with the Arab countries - has
not been affected.
But it is relatively harmless.
Not only because the Arab mar-
kets have not been completely
closed to Israeli goods - deals
have been consummated cir-
cuitously despite the boycott -
but because there is not that
much business Israel can prof-
itably do with its neighbors.
Now that the Jordanian mar-
ket, for instance, is officially open-
ing, the volume of trade is
expected to be strictly limited.
But the secondary boycott has
been an effective weapon in the
Arab economic war against Israel.
The reluctance of major compa-
nies to invest in Israel for fear
Decision Sends Market Soaring
CLAWSON
(810) 435-2840
bank
&trust
BERKLEY
(810) 546-2590
SOUTHFIELD
(810) 355-9831
BIRMINGHAM
(810) 646-8787
WEST BLOOMFIELD
(810) 855-6644
PENALTY FOR EARLY WITHDRAWAL.
RATES SUBJECT TO CHANGE WITHOUT NOTICE.
ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF OCTOBER 14, 1994.
The Tel Aviv Stock Exchange experienced
sharp across-the-board increases follow-
ing the announcement that the Gulf states
would drop their secondary and tertiary
boycotts of Israel.
The Two-Sided Index jumped 3 percent,
the Maof 3.2 percent and the Karam 1.5
percent. Koor was the outstanding gainer.
In other reactions:
- Israel Prime Minister Yitzhak Rabin
thanked the United States for persuading
the six Gulf Cooperation Council members
to stop their adherence to the boycotts.
-Jordan Prime Minister Abdel Salam
Majali welcomed the decision to end the
boycotts, calling it a "positive step." He
called on the Arab League to confirm the
decision, but the Arab League said it would
continue its boycotts.
-- Israel Energy Minister Moshe Sha-
hal said there is great interest in the Gulf in
using Israeli facilities to store oil and trans-
port it to Europe.
Dan Propper, head of the Israel Man-
ufacturers Association, said the country has
lost an estimated $300-600 million a year
in investments because of the secondary
boycott. A large number of multi-national
companies, headquartered mainly in Eu-
rope and Japan, have not engaged in direct
business relations with Israel because of
the trade embargo, Mr. Propper explained.