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November 18, 1994 - Image 50

Resource type:
The Detroit Jewish News, 1994-11-18

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



An in-depth workshop for
the serious investor

Slower Growth
More Arab
Tourists in Israel? Is Predicted

Learn specific Strategies for creating a
winning conservative, moderate, or
aggressive no-load portfolio.

- Find out why last year's top funds could
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We will keep you up-to-
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Israel Raises
$750 Million

The Israeli government has
raised $750 million in U.S. loan
guarantee funds at an annual in-
terest of 8.257 percent, the Trea-
sury announced.
Given the present high long-
term interest rates in the United
States, Israel raised less than half
of the $1.784 billion in guaran-
tees that are allotted to it this

Teva's Profits
Rise 25 Percent

comwtfrlity -volbtinteers

cove home to the Keighb-oThood!

More than 1 million Arab tourists
will visit Israel once a regional
tourism agreement is reached
that includes Syria, Bethlehem
Mayor Elias Freij told the
Jerusalem Business Conference.
Mr. Freij, who was attending
in his capacity as Palestinian Na-
tional Authority Tourism and Ar-
chaeology minister, told the
conference's session on tourism
that he hoped to see a regional
tourism agreement between Is-
rael, the Palestinian National Au-
thority and Jordan.
"When Syria joins the club, we
can expect to see over a million
tourists from Arab countries," Mr.
Freij said.
He was confident that tourism
to Israel, which is expected to be
some 2 million this year, will
reach more than 5 million by the
year 2000.
Mr. Freij also urged his audi-
ence to invest in the construction
of hotels and resorts, saying the
authority would provide incen-
tives, albeit not as generous as
those given by Israel.
Israel Tourism Minister Uzi
Baram said his country was co-
operating with the Palestinian
National Authority to ensure the
continuity of tourist traffic to all
parts of the territories.
Enthusiastic about the Middle
East resuming its traditional role
as a "bridge between continents,"
Mr. Baram said there was every
indication that traffic to the re-
gion will increase with the ces-
sation of hostilities.



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Israeli company Teva's third
quarter net profits jumped 25
percent to $17.46 million from
$13.9 million in the same period
last year, the company reported.
Revenues rose to $143.47 mil-
lion from $127.24 million, while
quarterly earnings per share
went up to $3.17 from $2.58.
Elbit reported a 7 percent rise
in third quarter net profits to
$10.27 from $9.58 million and
Elscint announced a drop in third
quarter net profits to $3.2 million
from $5.88 million.

Economic growth in Israel will
slow to a rate of 5 percent next
year as a result of full employ-
ment conditions, which will push
wages up, Treasury economic ad-
viser Tsipi Gal-Yam said.
This year's expected growth
rate is 6.7 percent. Despite the
predicted wage hikes, the busi-
ness sector will be able to remain
profitable due to the large in-
vestments it made in the past few
years in equipment that helps in-
crease their productivity, Ms.
Gal-Yam said.

Prime Minister
Speaks Out

Brussels (JTA) — Belgian Prime
Minister Jean-Luc Dehaene has
called on his government to take
"concrete measures" to prevent
and to suppress racist behavior.
Speaking last week at cere-
monies marking the 50th an-
niversary of the liberation of
Belgium from Nazi occupation,
Mr. Dehaene said it is the duty
of citizens to mobilize against
racism and xenophobia.
The ceremony, attended by
several hundred members of the
Jewish community, was one of
several commemorations orga-
nized last week throughout Bel-
gium to celebrate the liberation
of the country by British, Polish,
American and Canadian soldiers.
Several Belgian and foreign
personalities — including mem-
bers of the government — were
also present at the ceremony,
which took place at the National
Memorial dedicated to the Jews
who were deported to Nazi death
The monument bears the
name of the 24,052 names of Jew-
ish victims who were deported
from Belgium and died in con-
centration camps.
Only 1,025 Jews from Belgium
survived the Holocaust. More
than 5,000 children were de-
ported and gassed at Auschwitz.
The Nazis also destroyed all the
Jewish communal institutions in
In his Sept. 4 speech, Mr. De-
haene recalled the fact that the
Jewish people were the ones who
"most suffered during World War
II and the National Socialist bar-
"One-third of the Jewish peo-
ple disappeared in the framework
of the 'Final Solution,' " he said.
"Men and women, old people and C
children were assassinated for
the sole reason that they were

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