• How today's rising interest rates can benefit you.
INTEREST RATES page 60
CDs
6.50% One Year Rates* (6.50% APY)
6.90% Two Year Rates* (7.01% APY)
7.00% Three Year Rates* (7.12% APY)
If you are interested in taking advantage of today's rates,
call today.
• Mutual Funds • CDs • IRA Rollovers & Transfers
• Stocks & Bonds • Annuities
NATALIE RAY
FINANCIAL
SERVICES
Investment Advisor Representative
26211 Central Park Blvd. Suite 510
Southfield, MI 48076
Banks Fuel
Gas Deal
(810 ) 350-8899 800-972-0371
.
Interest rate and Annual Percentage Yield (APY) effective as of 1/30/95.
• Issuer's name available upon request. $10,000 minimum deposit. May be subject
to penalty if sold prior to maturity. APY may reflect a current market discount.
LINSCO/PRIVATE LEDGER MEMBER NASD/SIPC
$1399
5 pc. King
WATERFALL BEDROOM SET
Set Includes: 72" dresser or 72" armoire
$299
36 X 36 RADIUS TRIANGLECOCKTAIL
Low Overhead = No Fancy Sho400m
Because of this we are able to offer our quality
merchandise directly to the consumer and pass
the savings of up to 60% to You!
$309 36X18X30
WATERFALL DESK
$409 60X18X30
CLASSIC CREDENZA
Laminate Furniture-Choose From I 00's
of Colors — Gloss, Matte & Textured
$329
45" Diameter
ROUND DINING TABLE
$259 36 X 36
SQUARE COCKTAIL
82
Prices reflect solid colors matte or gloss
2599 Crumb Rd., Commerce Twp.
$1299
72" X 72"
TRIO WALL UNIT
Wed.-Sat. 10-6 Sun 12-4 • 669-0066
$329 24 X 48
INSIDE WATERFALL
COCKTAIL TABLE
It's Time To
Share The Wealth
Ofeq 3 Satellite
Ready For Launch
• BEDROOM SETS • INNING 'Emus
• ENTERTAINMENT CENTERS
• COCKTAIL, SOFA, ENO TABLES
Choose any size or style
to fit your needs.
percent while the economy is suf- distributing the images would be
fering from a slow-down in activ- less than $100 million, far less
ity.
than the $250 million invested so
He also criticized the Bank of far by Lockheed-led Space Imag-
Israel's freezing of the exchange ing.
rate, saying that it is a direct re-
Israel launched Ofeq 1 in Sep-
sult of the interest rate policy.
tember 1988 and Ofeq 2 in April
Mr. Propper said the economy 1990. Both weighed about 160
is suffering from a large balance kilograms and remained in space
of trade deficit.
for about six months.
"The Israeli economy is cur-
Ofeq 3 is designed to last two
rently moving toward a crisis and years in orbit and will be
the point of no return is not far launched on a Russian Molniya
off, " he said. "The government rocket, Space News said. Russia
has to look for all possible ways and Israel recently signed a space
to force the Bank of Israel to cooperation agreement to launch
change its monetary policy, which Israeli satellites on Russian rock-
is sweeping us toward a severe ets.
crisis."
IAI is building a second satel-
lite with a spatial resolution of
one meter, Space News said. That
spacecraft is tentatively sched-
uled for launch in late 1996 or
early 1997.
Bateman Engineering of Israel
signed a $100 million transaction
with Russian gas manufacturer
Tomskneft after the Israel For-
eign Trade Risk Insurance Com-
pany (IFTRIC) and the U.S. Shares in Electronics for Imag-
Eximbank agreed to act as guar- ing surged 15 percent in New
antors for $92.5 million.
York to $31 after the Israeli com-
Kiryat Bialik-based Bateman pany announced a. record 67 per-
will supply equipment to treat cent increase in annual net profits
gas.
last year to $21.3 million from
The agreement to approve the $12.8 million in 1993.
transaction was signed in Wash-
Annual revenues rose to $130.4
ington among Eximbank, million from $89.5 million, while
IFTRIC, Bank Hapoalim, the earnings per share surged to
Chase Manhattan Bank and a $1.71 from $1.04.
group of European and Russian
Fourth quarter net profits
banks
leaped to $7.6 million from $3.8
Eximbank has agreed to act as million, while quarterly earnings
a guarantor to Chase for $67.5 per share doubled to $0.60 from
million, while IFTRIC will act as $0.30.
a guarantor to Bank Hapoalim
for $25 million. The European
and Russian banks will provide
the rest of the financing.
$1299
'5 pc. QUEEN
OMEGA BEDROOM SET
Includes: 72" dresser or 72" armoire
Advertising in The Jewish News Gets Results
Place Your Ad Today. Call 354-6060
A First For
Israel In Tunis
Israel's first economic delegation
to Tunis has arrived in that coun-
try. The delegation is the guest of
the Tunisian Manufacturers As-
Israel Aircraft Industries (IAI) is sociation and of UTICA, the state
developing remote-sensing com- business authority.
mercial satellites with a resolu-
Headed by Koor president Ben-
tion of two meters, a U.S. trade ny Gaon, the group will meet with
publication said.
Tunisian economic ministers, in-
Space News reports in its lat- dustry leaders, bankers and the
est issue that IAI has already governor of the Bank of Tunis.
developed Ofeq 3, which is sched-
Delegation members include
uled for launch in July on a Hapoalim chairman Emmanuel
Russian rocket.
Sharon, Tadiran general manag-
The satellites were approved er Yisrael Zamir, Amos Mar
by the Israel government after Haim of the Israel Corporation
the Gulf War but have not been and members of the U.S. finan-
launched because of financial cial community, including Mer-
problems.
rill Lynch.
The publication said IAI plans
to cooperate with a U.S. company,
Core Software Technology of
Pasadena, Calif , to find partners
for distributing imagery from
Ofeq 3.
They hope to combine IAI's Zim of Israel general manager
satellite imaging with Core's abil- Matti Morgenstern has been
ity to distribute the data via its elected to the World Trade Cen-
worldwide computer network.
ter Hall of Fame for his contri-
A source close to the project bution to advancing international
told Space News the estimated trade and improving the world
cost of launching the satellite and economy.
Zim GM
Enters Hall
(--/