Susi Bank Index Shows Slowdown Single Up-Front Payment $12 9 802 ** '1000 DOWN Stk. #306108 ;0 DOWN '1000 DOWN '2000 DOWN $587 $544 $499 Stk. #619856 1996 ELDORADO Single Up-Front Payment ** $ 129534 0 DOWN 1 '1000 DOWN Cabinet Approves Budget Cut '2000 DOWN $559 '517 $474 *GMAC SMARTLEASE 24 months. First pymt., ref. sec. dep. rounded to $25 increment, plus down pymt. as shown above; plate or transfer fee due on delivery. State & luxury tax additional. Mile limitation of 24,000 miles. 15per mile excess charge over limitation. Lessee has op- tion to purchase at lease end. To get total pymts. multiply pymt. by no. of months. **Based on GMAC SMARTLEASE PLUS 24 months one single up front pymt. plus $500 ref. sec. dep., plus plates or transfer due on delivery. 6% sales tax & lux. tax additional. Mile limitation of 24,000 on Eldorado. 15c per mile excess charge over limitation. Lessee has option to purchase at lease end. If currently in a Cadillac Smartlease, receive an additional $1,000 for Eldorado, and $500 for the Spring Edition Sedan DeVille and Sedan Deville. RINKE CADILLAC 1-696 AT VA NT DYKE . Jerusalem (JPFS) — A significant sign of an impending economic slowdown emerged recently when the Bank of Israel said its index of integrated indicators declined in May by 0.7 percent in compar- ison with the previous month, the first contraction in more than three years of this broad mea- surement of the economy's over- all vitality. The index, which comprises in- dicators relating to imports, retail commerce, industrial production and business-sector jobs, rose over the four months preceding May by an average of 0.7 percent and by an average of 9 percent a year over the past six years. The most significant decline was registered in the import in- dex, which dropped 7.1 percent, reflecting particularly weakened industrial demands. The indus- trial-production index itself shrank in May by 2 percent. The Central Bureau of Statis- tics reported that the pace of growth in factory orders for equip- ment and machinery slowed dur- ing the April-May period to 6-7 percent after having stood at 13- 17 percent during the previous two months and at 17-20 percent during the second half of last year. Organized retail commerce sales also slowed in May, when they grew at an annual pace of 9 percent, compared to 12-14 per- cent growth in the previous two- month period. Meanwhile, the central bank also reported a $360-million de- cline in June of foreign currency reserves, which now stand at $8.89 billion. This was the fifth straight monthly drop in non- shekel deposits. The central bank attributed the decline to govern- ment transfers abroad in the amount of $307 million. 758 —1800 If traveling west on 1-696, exit Hoover, follow Service Drive to RINKE. If traveling east on 1-696, exit Van Dyke; take to second bridge past Van Dyke over expressway to RINKE Open Mon. 7-9pm, Tues. 7-7 pm, Wed. 7-7 pm, Thurs. 7-9 pm, Fri. 7-6 pm MASTE • , DEALER. DE-D1CATED T t E Jerusalem (JPFS) — The Cabi- net agreed on a cut to next year's budget and set a target of lower- ing the balance of payments deficit by 2.8 percent of the gross domestic product. Prime Minister Binyamin Ne- tanyahu pledged that Israel will embark on a "sweeping liberal- ization policy," which will include privatization and deregulation alongside the necessary budget- cutting. During a 5 1/2-hour Cabinet meeting, 12 ministers voted in fa- vor of the proposals brought by the prime minister and Finance Minister Dan Meridor. Five others, led by Yitzhak Mordechai (Likud), together with party colleagues David Levy and Moshe Katsav, and the NRP's Ze- vulun Hammer and Yitzhak Levy, voted for a compromise bud- get. This would lead to a 3.5 per- cent balance of payments deficit in 1997, with further reductions of 0.5 percent a year until the end of the century. The Defense and Education ministries, under Mordechai and Hammer respectively, are among those that will be hardest hit when the final budget is set. Mr. Meridor said the cuts will not lead to a decrease in the stan- dard of living next year and pledged again to do his utmost to ensure the poor and weak are not affected by the measures. Having received Cabinet approval for the macro-economic picture, Mr. Meridor reiterated that he envis- ages no tax increases as a result. Mr. Netanyahu declared a "sweeping liberalization policy for the Israeli economy. Israel has had incremental structural re- forms since 1986. We intend to do a lot more in a compressed time. It is privatization and liberaliza- tion and deregulation, especially the deregulation program, that will bring the economic growth that I envision," he said. Israel Is Hub For Henkel Jerusalem (JPFS) — Henkel has decided to focus its regional in- vestment activity in Israel, Dr. Uwe Specht, executive vice pres- ident of the German concern, said. Dr. Specht was in Israel to sign a strategic pact with Soad, a She- men Industries subsidiary. He ex- pressed his company's confidence that the peace process would con- tinue despite the recent change in government, adding that the Middle East is becoming a major growth area with vast potential for fast-moving consumer goods such as household and personal- care products. According to the agreement, Henkel will invest $7.5 million in acquiring 50 percent ownership in Shemen, which will be renamed Henkel-Soad. The in- vestment will concentrate on in- creasing Shemen's production capacity and expanding its mar- keting system, as well as intro- ducing Henkel's products in Israel. Henkel, which manufactures chemicals, cleaning agents, de- tergents, cosmetics, toiletries, and beauty accessories, is one of the world's top four chemical firms, with an annual turnover of over $10 billion. Among its 15,000 products are Persil detergents and Thompson's house-cleaning prod- ucts. The company had a net in- come of $330 million in 1995. Soad is a general brand name for a series of cleansing and cos- metics products, including Soad detergent powder, Zebra and Flu- oride toothpastes, and Hawaii