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BAD TASTE page 43
uary paycheck and the govern-
ment's popularity slid still fur-
ther. One Labor MK's revolt
nearly prevented the supple-
mentary budget from passing.
Credibility blow No. 5.
To make things worse, the His-
tadrut, deprived of its major
source of funds - its slice of Ku-
pat Holim dues - wanted mon-
ey. So the government agreed to
let employers levy another por-
tion of employees' wages and
hand it over to the Histadrut -
whether the employees liked it or
not and whether they received
any benefit from the Histadrut
or not.
The impression that the tax
burden was getting heavier and
heavier was reinforced. Credibil-
ity blow No. 6.
Earlier this month, in another
grand gesture, the government,
continuing to insist that it was
the party of lower taxes, said it
will grant married working
women an additional tax credit
point, worth about a hundred
shekels a month in additional net
income. The employers' contri-
bution to health taxes will be cut.
The cuts will be financed by
another NIS 720 million in cuts
in the state budget. Which brings
us back to the NIS 5 billion sup-
plementary budget ... Credibility
blow No. 7.
The more the government tin-
kered with the recipe, the worse
it tasted.
It continues to claim that Is-
raelis are all going to be richer.
A poll published last week
indicates that 70 percent of peo-
ple do not believe it, and feel that
the government has lost control
of the economy. It is difficult to
disagree. ❑
Neil Cohen is the business editor
of The Jerusalem Post.
Bank Predicts Slower Inflation
Metrobank
4,7950 West Maple Rd.
West Bloomfield, MI 48322
(810) 960-6060
Member FDIC
33205 Grand River Avenue 37000 Grand River Avenue, Suite 100
Farmington Hills, MI 48335
Farmington, MI 48336
(810) 474-6400
(810) 474-6400
27500 Famington Rd.
Farmington Hills, MI 4833
(810) 474-6400
Platinum Plus Checking account requires a $2,500 minimum opening deposit $10.00 per month service charge on accounts not meeting monthly balance
requirements; Annual Percentage Yield (APY) shown is for a minimum deposit $2,500. The minimum opening deposit for IRA is $250, penalty for early
withdrawal; the APY shown is for a minimum deposit of $250. APY' offered as of 01/13195 and are subject to change without notice.
Annual
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• Jan 22, 1995.
12 MONIII CERTIFICATE OF DEPOSIT
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(810) 548-2900
44
Member FDIC
Substantial interest penalty for early withdrawal from certificate accounts.
There is a strong possibility that
the inflation rate in Israel will
slow down this year, according to
Bank Hapoalim's survey of the
Consumer Price Index.
In Hapoalim's forecast of the
stock market, the economists said
the current poor atmosphere will
change in 1995, but it will not be
felt soon.
In the financial sector, Hapoal-
im said commercial banks' activ-
ities in the capital market will
moderate.
It predicted the sector's per-
formance will improve in the long
run, reflecting the passage of leg-
islation in the capital market, a
breakthrough in the privatiza-
tion process and foreign investors'
increased interest.
Hapoalim predicted a moder-
ation in mortgage banks' profits
in 1995 because of the slowdown
in the real estate market.
The economists said insurance
companies active in the general
insurance field are likely to suf-
fer from the high market compe-
tition.
The bank said most of the
firms engaged in the trade and
services sector will register prof-
its.
Hapoalim predicted a growth
in the market share of companies
which are engaged in housing
construction and own a large sup-
ply of land in areas where de-
mand is high.
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Change
Symbol
Name
Exchange
Jan. 13
Jan. 20
SCIXF
Scitex
NASDAQ
'16.63
'17.00
ECILF
ECI Telecom
NASDAQ
'13.13
'13.63
+s0.50
TEVIY
Teva Pharm
NASDAQ
'22.13
'22.88
+$0.75
I EC
PEC Israel
NYSE
'25.75
'24.75
ELBTF
Elba Computers
NASDAQ
'19.75
'18.25
ELT
Elscint LTD
NYSE
'1.88
'2.00
ELRNF
Elron Electronics NASDAQ
'9.63
'9.38
TAD
Tadi ran
NYSE
'20.63
'19.75
CMVT
Comverse
NASDAQ
'12.63
'12.38
LANTF
Lan net Data
NASDAQ
'23.25
'23.63
+'0.38
ISL
First Israel Fund NYSE
'9.75
'9.75
+$0.00
-51.50
-$0.88
Source: Allen Olender, Prudential Securities,
West Bloomfield.