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Trade Deficit
Slips 2.6 Percent
The trade deficit in Israel inched
down 2.6 percent in March to
$848.9 million as record high im-
ports were partially offset by a 17
percent surge in exports, the Cen-
tral Bureau of Statistics reported.
Exports rose to $1.54 billion
from $1.32 billion in February,
while imports increased a more
moderate 9.2 percent to $2.39 bil-
t
er
Avraham
-
Israel Finance Minis
Shohat and Chinese Foreign lion from $2.19 billion.
Even though the deficit de-
Trade and Economic Cooperation
clined,
Manufacturers Association
Minister Wu Yi have signed an in-
vestment protection treaty and an president Dan Propper said it still
agreement to extend a $150 mil- casts a shadow on the economy's
lion line of credit to Israeli com- ability to continue its growth.
panies investing in China, the
Treasury reported.
Treasury officials emphasize
the importance of the treaty fol-
lowing the difficulties foreign in-
vestors have had with Chinese As of April 10, Israeli firms are al-
authorities.
lowed to invest abroad without re-
The treaty protects investors strictions and buy foreign stocks
from both countries against dis- and hold bank deposits abroad, the
crimination and acts that will de- Bank of Israel announced.
crease the value of their
The only restriction on financial
investments.
holdings will be that they not ex-
In addition, the treaty guaran- ceed 10 percent of their net worth
tees the right of investors to real- or 5 percent of their sales, whichev-
ize their investment at any time er is greater.
they desire.
Israel, China
Sign Treaty
"We create solutions."e
BERKLEY
Todd Kegler
(8 1 0) 546 2590
BIRMINGHAM
Norm Lining
(8 1 0) 646-8787
from one country in the other
country, and income of wage-earn-
ers and the self-employed.
CLASSIFIED
GET RESULTS!
Call The Jewish News
354-5959
Israeli Firms
Given Leeway
Electric Fuel
In The Ukraine
Double Taxation
Treaty Signed
Israel Finance Minister Avraham
Shohat and Chinese Finance Min-
ister Liu Zhongli signed a double
taxation avoidance treaty in Bei-
jing, the Treasury announced.
The treaty relates to income
from trade between the two coun-
tries, investments of residents
The Electric Fuel Corporation of
Israel has signed a letter of intent
for a possible joint venture with
the Ukrainian government.
The venture would utilize com-
mercial applications of Electric
Fuel's zinc-air energy system for
zero emission electric-powered
transportation.
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Symbol
Name
Exchange
Dec. 23
Dec. 31
Change
SCIXF
Scitex
NASDAQ
'15.88
'17.63
+51.75
ECILF
ECI Telecom
NASDAQ
'15.00
'15.00
$0.00
TEVIY
Teva Pharm
NASDAQ
'31.00
'34.75
+'3.75
IEC
PEC Israel
NYSE
'26.13
'26.50
+$0.38
ELBTF
Elbit Computers
NASDAQ
'19.13
'18.88
1:25
ELT
Elscint LTD
NYSE
'2.00
'1.88
-S0.13
ELRNF
Elron Electronics
NASDAQ
'8.63
'8.63
'0.00
TAD
Tadiran
NYSE
'17.38
'17.13
CMVT
Comverse
NASDAQ
'14.31
'14.50
+s0.19
LANTF
Lannet Data
NASDAQ
'16.75
'18.00
+'1 .25
ISL
First Israel Fund NYSE
'10.38
'10.63
150.25
Source: Allen °lender, Prudential Securities, Nest Bloomfield.