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Jerusalem (JPFS) — The hotel
industry's overall revenues
dropped slightly in real terms
from 1995, according to Israel's
Central Bureau of Statistics.
The bureau recorded a 10 per-
cent increase over 1995. How-
ever, when adjusted for the
cost-of-living index, there was a
decrease of less than 1 percent,
the bureau announced.
Also noteworthy was the fact
that the revenue in shekels,
from Israelis or tourists paying
for services which were not val-
ue added tax exempt, was
greater than the revenue in for-
eign currency.
The statistics took into ac-
count all payments to hotels, not Jerusalem (JPFS) — Japanese
only for rooms and meals, but trading company Nissho
for sports activities and banquet Corporation is to become a
jor shareholder alongside the
facilities.
It did not include payments Dankner Group's Matav Cable
Systems Media in the private
for time-sharing.
The hotels employed an av- Polish RP Telekom, following a
erage of 27,400 people a month deal estimated to be worth $26
last year, a slight drop from million over three years, the
1995, even though the number company announced.
Dankner of Israel, whose
of rooms increased .4 percent.
Matav Cable is a regional cable
TV operator, is among the lead ,/
ers of a multi-national group of)
investors which is involved in
the privatization of Poland's tele-
phone services.
Jerusalem (JPFS) — Israel
Matav, founded in 1987 by
must reduce, and in some cases Dankner Investments, is shared
altogether remove, tariffs on im- by Dankner with Hapoalim
ports from Jordan, whether in a Electronic Communications and
joint agreement or unilaterally, Hanania Gibstein, with each
Finance Minister Dan Meridor holding about 20 percent of the
said.
company.
Speaking in Jerusalem at the
In a notice to the Tel Aviv
first national symposium on ex- Stock Exchange, Dankner re-
panding trade with neighboring ported that an agreement
states, Mr. Meridor.admitted was signed between Shamrock
that too much bureaucracy on Holdings, Nissho Iwai &
the Israeli side is hindering the General Electric, Wall Street
development of economic ties, firm Goldman Sachs, and
particularly in infrastructure Matay.
projects along the Jordan Val-
According to the agreement,
ley.
each partner will hold 11.8 per,/
Meanwhile, senior Treasury cent of shares.
and Foreign Ministry officials
called on Jordan to consider en-
tering negotiations to create a
free-trade agreement, which
could also include the Palestin-
ian Authority.
Pointing to recent border- Jerusalem (JPFS) — Ares-
crossing tariff reductions from Serono S.A., a leading Swiss
the Israeli side, both for freight developer and marketer of phar-
and passengers (including the maceutical products, has
reduction of levies on workers purchased the outstanding
from $5 to $2), Mr. Meridor said shares of Israel's InterPharm
the Jordanians have so far failed Laboratories Ltd. for $40 mil-
to respond in kind, despite re- lion, the company reported.
quests from Israel.
As a result of the acquisition,
Ares-Serono now owns 100 per-
cent of InterPharm, a Ness
Ziona-based healthcare biotech-
nology company.
The purchase will mean that
InterPharm will receive greater /
Jerusalem (JPFS) — ECI Tele-
assistance in developing and L\
com Ltd. of Petah Tikva, Israel,
marketing its products, Ares-
has received a $58 million,
Serono CEO Ernest Bertarelli
three-year contract to supply
said.

Japanese In
Polish Venture

$15,000 Minimum Deposit

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telecommunications equipment
to British Telecom.
According to the terms of the_/
agreement, ECI will supply BI -`
with its DACS-2 systems.
The system allows telecom
providers to double the number
of users per telephone line by
converting a single analog line
into two digital lines while leav-
ing the current copper-wire in-
frastructure in place.
ECI competed with several
telecommunications companie
for the bid, which represents
one of ECI's largest deals with
BT.

CONSIGNMENT
CIMBEERS

Call today for a MEE
housecall appt or
in-store appt.

347-4570

43041 W 7 Mile • Northville

Jordanian Import
Tariffs Slashed?

InterPharm
Takeover

ECI Contract With
British Telecom