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UNFINISHED page 62
DeSutter noted that while he
appreciated Israeli security con-
cerns, it would be "relatively sim-
ple" to allow Palestinian goods to
move freely between Gaza and
the West Bank, among the seven
West Bank cities controlled by
Arafat. DeSutter also faulted the
U.S. government for failing to
take a more active role in the de-
velopment of the Palestinian pri-
vate sector.
Whichever way the blame is
parceled out, there is common
agreement that the Palestinian
economy is in shambles and pre-
sents a potential powder keg.
A recent UNESCO report cites
unemployment at above 50 per-
cent, with the population and la-
bor force growing constantly. By
practically all other indicators,
including national and per-capi-
ta income, the Palestinian econ-
omy has drastically declined since
the signing of the Oslo agree-
ment.
In Gaza, a few luxury devel-
opments only mask a Potemkin
village, said Zogby. "There is no
water, no electricity, no infra-
structure," he said.
Levine says, "We had hoped to
accomplish more, but at this point
we've done all we can. Whatev-
er comes next will have to be done
by the people of the region."
Zogby, alluding to his friend-
ship and respect for Levine, con-
cluded bitterly that "both of our
visions have been betrayed." ❑
Jerusalem Post
Croatia Seeks
Israel Deals
Jerusalem (JPFS) - Croatia is
interested in cooperating in the
production and sales of defense
products, as well as in upgrading
its energy industry.
The two countries are quietly
exploring a wide range of defense
projects, including joint produc-
deposit and balance of $500.00 is required to obtained the stated Annual Percentage Yield.
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
'Annual percentage yield when compounded quarterly. Rate is accurate as of
8/29/97. Penalty for early withdrawal from certificate accounts may be assessed.
Symbol
Name
Exchange
Aug. 15
Aug. 22
SCIXF
Scitex
ECI Telecom
Teva Pharm
PEC Israel
Elba Computers
Elscint LTD
El ron Electronics
Tadi ran
NASDAQ
NASDAQ
NASDAQ
NYSE
NASDAQ
NYSE
'11.32
'32.44
'57.63
'20.63
3.18
8.63
'17.00
'31.63
'47.00
'14.33
'11.44
Change
`0.12
'31.12
-51.32
ECILF
U)
TEVIY
Lu
I EC
U)
ELBTF
ELT
ELRNF
CC
H-
U-1
U_J
04
50°/0 Off all
services with
Carol Lee on any
Monday or Tuesday
85-33-7 3
tion and military sales, officials
and diplomatic sources said.
In early June, a delegation of
Croatian defense officials visited
and met with some of their Israeli
counterparts and defense indus-
try executives. The delegation was
headed by Gen. Vladimir
Zagoretz, vdio is responsible for
acquisitions in the Croatian De-
fense Ministry.
One diplomatic source said
Zagoretz offered to trade Croat-
ian oil for Israeli weapons via a
third country. The source said the
Zagoretz meeting was followed up
by one between Israeli and Croa-
tian representatives at the Paris
Air Show toward the end of June.
The visit of Israeli defense rep-
resentatives to Croatian military
plants was discussed.
Israeli officials said the Croat-
ians were told that there could be
no defense contracts without the
establishment of formal diplo-
matic relations. "There are av-
enues to explore in this field," an
official said. "But we can't do any-
thing without foil-nal ties."
Meanwhile, Zagreb and
Jerusalem are also exploring co-
operation in the energy sector.
Jerusalem and Zagreb have
economic ties but have not estab-
lished diplomatic relations, main-
ly because of charges that a 1989
book published by Croatian Pres-
ident Franjo Tudjman contains
anti-Semitism. In January,
Tudjman issued a revised version
of the book that eliminated the ob-
jectionable elements and Israel
Foreign Ministry officials said
they expect a decision in several
weeks on whether to open an em-
bassy in Croatia.
Israel and Croatia have sever-
al areas of potential cooperation,
an official said. One of them is
agriculture, in which Israel could
help Croatia improve crop yield.
Another is Israeli investment in
Croatia, particularly in the con-
struction of hotels along the Adri-
atic coast.
TAD
CMVT
ISL
NASDAQ
NYSE
Comverse
NASDAQ
First Israel Fund NYSE
'55.25
'21.25
4.00
'0.62
'0.82
8.32
'16.50
'33.50
'47.32
'15.25
-'0.50
'1.87
'0.32
'0.92
Source: Allen Olendei; Prudential Securities,
West Bloomfield.