Global Accord To Cut Duties Mr. Gold has reportedly pushed for a de-merger to boost Koor's profitability and offset losses recorded by Shamrock's Jerusalem (JPFS) — The Israeli other holdings, namely clothing government has ratified the retailer LA Gear and super- World Trade Ministerial Decla- market chain Grand Union. Mickey Zellermeier, legal ad- ration on Trade in Information Technology Products, which will viser to the Shamrock group in cut customs duties on comput- Israel, and Micha Geiger, Sham- er and telecommunications prod- rock's local representative, are ucts immediately, gradually expected to meet with Mr. Gold eliminating them by the year in California. The three are ex- 2000, the Israel Ministry of In- pected to discuss the possibility of breaking up the Koor concern. dustry and Trade announced. The 40 participating nations include the United States and European Union, with whom Is- rael already has free-trade agree- ments, as well as countries such as Japan, Indonesia, Malaysia, Jerusalem (JPFS) — Represen- the Philippines, Korea, Aus- tatives from Tower Semiconduc- tralia, Taiwan and Thailand, tor will meet with the Ministry of which are not free-trade part- Industry and Trade to discuss the ners. company's plans to invest $1 bil- The agreement also stipulates lion in its Mies] HaEmek plant, that import taxes on more sen- said David Baruch, director-gen- sitive products, such as telephone eral of the ministry's investment switches, antennas, printed cir- center. cuits and certain cables must be According the Capital Invest- eliminated by the year 2005. ment Aid Law, the plant is enti- The information technology tled to a 20 percent grant because accord is the second of three it is located in an Israeli devel- WTO agreements designed to lib- opment area. eralize world markets. Earlier in the year, the WTO issued a global accord to free up the telecommunications indus- try. The agreement, which went into effect in February, paved the Jerusalem (JPFS) — Aladdin way for Barak and Golden Lines Knowledge Systems Ltd. of Tel to enter the local telecom mar- Aviv and Wave Systems Corp. of ket. Massachusetts recently signed The WTO is now negotiating an agreement whereby Aladdin, a financial services accord that a supplier of information securi- would liberalize the banking, in- ty solutions for software devel- surance and foreign exchange opers and software users, will rates regulations. provide a license for its technolo- Such an accord would be de- gy to Wave. The value of the deal signed to make the internation- is $900,000. al investment environment more secure. Israel produces close to one percent of the world's informa- tion technology products. Infor- mation technology is a $500 Israel's Edusoft firm was selected billion market worldwide. to participate in a consortium that will develop a laboratory network to teach science over the Internet. The consortium, which will in- vest $5 million in the project, con- sists of German, French and Jerusalem (JPFS) — Koor In- Italian telecom companies, the dustries Ltd. has not discussed Open University of England and plans to demerge its major ac- the universities of Athens and tivities, the company said in a Milan. statement issued to the Tel Aviv Stock Exchange. But the statement said the firm will sell investments, dilute holdings and/or enter into joint ventures to strengthen its core Jerusalem (JPFS) — Galileo businesses. Koor's announcement to the Technology Ltd., a Carmiel- TASE follows several weeks of based maker of computer net- press reports regarding an al- work equipment, filed with the leged dispute over corporate U.S. Securities and Exchange strategy between Gaon and Commission to sell 2.75 million Stanley Gold, president of Sham- common shares in an initial pub- rock, Koor's second-largest lic offering on the NASDAQ stock exchange. shareholder. Tower Discusses Grants, Waivers A Division of SpeedNet, Inc. Tel: (810) 335-1309 Fax: (810) 332-5570 http://www.speedlink.net e-Mail:speed@speedlink.net Aladdin, Wave Sign A Deal yourr ~ anla° (810) 380-6590 Minimum $500 Minimum $5,000 TRW st.3 IN *Unlimited Checking! —11111_ MICHIGAN HERITAGE 21211 Haggerty Road at 8 Mile. Next to the Noll Hilton. Cr) LLJ If you are not wearing it... sell it!... or BORROW on it! You can't enjoy jewelry if it's sitting in your safe deposit box. Sell or bor- row on it for immediate cash. 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