INSTITUTIONAL INVESTOR
May 1, 1998
This sponsored section was prepared by the Special Projects Department at Institutional Investor and written independently by Avi Machlis and Matthew Kalman, journalists based in Jerusalem. Cover artwork courtesy of Bank Hapoalism.
A NEW ERA OF OPENNESS
When the State of Israel was established in 1948, the founding fathers envisaged a centralized economy based on agriculture and inspired by socialist Zionism. Today, however, many trademarks of the early economy have been swept away. Israel's high-tech sector is now driving economic growth, while privatization and reforms are transforming Israel into a free market economy. "We will continue to break down monopolies and deregulate," says Finance Minister Yaakov Neeman. "This will encourage growth, attract foreign investment, and benefit the Israeli public."
In the early 1990s, Israel enjoyed rapid growth, fueled by a wave of immigration from the former Soviet Union and by the Oslo peace process, which began in 1993. GDP climbed by an average of 6 percent between 1990 and 1995. The rate slowed to 4.5 percent analysts expect sluggish growth in 1996, 1.9 percent last year, and analysts expect sluggish growth in 1998.
Even though the peace process has been stalled for more than a year, foreign investment increased from $2.8 billion in 1996 to $3.7 billion in 1997. Recent terrorist attacks, however, have severely damaged Israel's tourism industry, which accounts for 3 percent of GDP, and sonic analysts warn that if diplomacy collapses, investors may disappear. Still, Israel's government remains upbeat. "Foreign investment will continue to flow," Neeman declares.
Foreign interest has focused on the financial services and technology sectors. According to the Bank of Israel, of total direct foreign investment of more than 100,000, some 46 percent was invested in financial services and another 36 percent in technology.
Investors did not seem deterred by last year's slowdown. The government blames the by downturn on the high budget deficit left its predecessors, which compelled it to rein in spending and the Batik of Israel to …
Friday, 1 May 1998
BANK HAPOALIM
INSTITUTIONAL INVESTOR
May 1, 1998
This sponsored section was prepared by the Special Projects Department at Institutional Investor and written independently by Avi Machlis and Matthew Kalman, journalists based in Jerusalem. Cover artwork courtesy of Bank Hapoalim.
ISRAEL'S LEADING PROVIDER OF FINANCIAL SERVICES FOR Investors
Bank Hapoalim -- Israel's largest banking group, with 10 commercial banks, 364 branches and offices worldwide, and more than 50 subsidiaries active in all aspects of financial services -- is the country's leading supplier of services to foreign and domestic institutional investors, financial intermediaries, private investors, and issuers. In 1997 the Bank reported the largest …
May 1, 1998
This sponsored section was prepared by the Special Projects Department at Institutional Investor and written independently by Avi Machlis and Matthew Kalman, journalists based in Jerusalem. Cover artwork courtesy of Bank Hapoalim.
ISRAEL'S LEADING PROVIDER OF FINANCIAL SERVICES FOR Investors
Bank Hapoalim -- Israel's largest banking group, with 10 commercial banks, 364 branches and offices worldwide, and more than 50 subsidiaries active in all aspects of financial services -- is the country's leading supplier of services to foreign and domestic institutional investors, financial intermediaries, private investors, and issuers. In 1997 the Bank reported the largest …
Sunday, 15 March 1998
Blonde ready for fun in Knesset
SCOTLAND ON SUNDAY
March 15, 1998
Matthew Kalman
THE face of Israeli politics may never look the same again. After 50 years of leadership by battle-scarred generals and stony-faced ex- underground fighters, the latest person to declare the formation of a new political party is Pnina Rosenblum, a platinum blonde ex- model, who will probably have to be taken a lot more seriously than her credentials suggest.
She was Israel's most famous fashion model, painted by Salvador Dali and popularly known as the "breasts of the nation". Despite a miserable birthright she is one of the most determined and successful women the country has ever seen. Now 43, with two children, Rosenblum is proprietor and chief executive of a huge …
March 15, 1998
Matthew Kalman
THE face of Israeli politics may never look the same again. After 50 years of leadership by battle-scarred generals and stony-faced ex- underground fighters, the latest person to declare the formation of a new political party is Pnina Rosenblum, a platinum blonde ex- model, who will probably have to be taken a lot more seriously than her credentials suggest.
She was Israel's most famous fashion model, painted by Salvador Dali and popularly known as the "breasts of the nation". Despite a miserable birthright she is one of the most determined and successful women the country has ever seen. Now 43, with two children, Rosenblum is proprietor and chief executive of a huge …
Peace, love and knitwear
SCOTLAND ON SUNDAY
March 15, 1998
Matthew Kalman
AFTER nuns kissing, horses copulating and Aids victims dying, you might think there was no subject under the sun left to faze the average Benetton shopper. Well then, think again. Oliviero Toscani, the image-making mastermind behind the Italian clothing giant, has turned his attention to one of the most intractable problems of the 20th century: the Arab-Israeli conflict.
In Israel - a country well used to passionate debate and violent confrontation - Toscani revealed his latest work to an enthusiastic audience last week, and casually compared himself to Picasso and the Renaissance painters. But Picasso never had Toscani's gift for publicity. Within a week, his new oeuvre will be …
March 15, 1998
Matthew Kalman
AFTER nuns kissing, horses copulating and Aids victims dying, you might think there was no subject under the sun left to faze the average Benetton shopper. Well then, think again. Oliviero Toscani, the image-making mastermind behind the Italian clothing giant, has turned his attention to one of the most intractable problems of the 20th century: the Arab-Israeli conflict.
In Israel - a country well used to passionate debate and violent confrontation - Toscani revealed his latest work to an enthusiastic audience last week, and casually compared himself to Picasso and the Renaissance painters. But Picasso never had Toscani's gift for publicity. Within a week, his new oeuvre will be …
Monday, 9 March 1998
Bennetton pays lip service to conflict
THE INDEPENDENT
March 9, 1998
Matthew Kalman
AFTER snogging nuns, copulating horses and dying Aids victims, the latest Benetton catalogue is expected to arouse its usual level of controversy.
Titled "Enemies", its cover features 24-year-old Israeli student Enyar Lazarus passionately kissing her Bedouin boyfriend, Musa Mazareb, 22. Inside are pictures of Arabs and Jews playing, loving and working together. It will be distributed by Newsweek and a network of publications around the globe in six million copies and 14 different languages.
"If journalists would be artists, and if politicians would be artists, probably the world would be different," said Benetton creative director Olivero Toscani, launching the catalogue …
March 9, 1998
Matthew Kalman
AFTER snogging nuns, copulating horses and dying Aids victims, the latest Benetton catalogue is expected to arouse its usual level of controversy.
Titled "Enemies", its cover features 24-year-old Israeli student Enyar Lazarus passionately kissing her Bedouin boyfriend, Musa Mazareb, 22. Inside are pictures of Arabs and Jews playing, loving and working together. It will be distributed by Newsweek and a network of publications around the globe in six million copies and 14 different languages.
"If journalists would be artists, and if politicians would be artists, probably the world would be different," said Benetton creative director Olivero Toscani, launching the catalogue …
Sunday, 1 March 1998
Israeli outsider in the hunt for top job
SCOTLAND ON SUNDAY
March 1, 1998
By Matthew Kalman
SHAUL Amor, a 57-year-old former social worker, will make history in Israel on Wednesday when he becomes the first person to challenge a serving president seeking a second term. The presidency, bestowed by a secret ballot of the 120 members of the Israeli Knesset, is largely a ceremonial position, but there is considerable excitement because the outcome is too close to call.
Amor has a good chance of beating the unpredictable, somewhat eccentric and massively popular president Ezer Weizman to become the first Israeli leader drawn from what he calls "the second Israel", of oriental Jews from North Africa and the Arab countries.
Two months ago, Weizman expected automatic …
March 1, 1998
By Matthew Kalman
SHAUL Amor, a 57-year-old former social worker, will make history in Israel on Wednesday when he becomes the first person to challenge a serving president seeking a second term. The presidency, bestowed by a secret ballot of the 120 members of the Israeli Knesset, is largely a ceremonial position, but there is considerable excitement because the outcome is too close to call.
Amor has a good chance of beating the unpredictable, somewhat eccentric and massively popular president Ezer Weizman to become the first Israeli leader drawn from what he calls "the second Israel", of oriental Jews from North Africa and the Arab countries.
Two months ago, Weizman expected automatic …
Friday, 11 November 1994
Be my bagel tonight
THE INDEPENDENT
November 11, 1994
By Matthew Kalman
Late night Saturday on the Golders Green Road. The pavement is packed with gossiping teenagers, Carmelli's bakery is doing a brisk trade in smoked salmon and cream cheese bagels. Inside Bloom's restaurant there is hardly an empty seat. Every few minutes, a police car cruises by encouraging the most persistent double-parkers to move on.
We are present at a vital weekly social ritual for Jewish teenagers. No drugs, no alcohol; nothing more intoxicating than catching up on the week's news with friends.
Before 11pm, the street was empty. Then the first wave arrives on their way home from the cinema, parties or clubs, staying as late as buses or their parents will …
November 11, 1994
By Matthew Kalman
Late night Saturday on the Golders Green Road. The pavement is packed with gossiping teenagers, Carmelli's bakery is doing a brisk trade in smoked salmon and cream cheese bagels. Inside Bloom's restaurant there is hardly an empty seat. Every few minutes, a police car cruises by encouraging the most persistent double-parkers to move on.
We are present at a vital weekly social ritual for Jewish teenagers. No drugs, no alcohol; nothing more intoxicating than catching up on the week's news with friends.
Before 11pm, the street was empty. Then the first wave arrives on their way home from the cinema, parties or clubs, staying as late as buses or their parents will …
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