Subscribe to Print Edition | Sun., August 31, 2008 Av 30, 5768 | | Israel Time: 01:24 (EST+7) web haaretz.com   Back to Homepage Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File

Markets in Brief Medtechnica says its board of directors has decided to give shareholders 50% of its annual profits, if not more, in dividends. In years that it's losing money, it may pay dividends (the height of the dividends paid the year before) from profits accrued over previous years. (TheMarker) High financing income and the appreciating value of its assets boosted AFI Development in the second quarter of 2008. The company, which handles Africa Israel's real estate projects in Russia and which is listed in London, reported that profit increased to $96.9 million in the first half of 2007, compared with $50.2 million in the first six months of 2007. First-half revenues amounted to $12.5 million, compared with $2.5 million in the corresponding period of 2007. (Yuval Maoz) Advertisement Zadik Bino's company Paz Oil means to build a second power generation station by the oil refinery it owns in Ashdod - and within a year, too it says. Paz is looking at a co-generation model, which would produce both electricity and steam, at an estimated cost of $60 million to $70 million. Meanwhile, Paz is already building a power plant at the site of the refinery. (TheMarker) Danya Cebus has agreed to carry out about NIS 25 million worth of infrastructure works in Moscow for its parent company, Africa Israel. Danya Cebus will be carrying out the job, the second phase of the Ozerkovskaya project, through subsidiary Danya-Rus. Africa Israel says it means to build a 120,000-square-meter building with both residential apartments and a hotel, with about 170 rooms, on Ozerkovskaya Street, in central Moscow. (Michael Rochvarger) The H&O clothing chain reported its second-quarter results today, and also said that its board has agreed to start the process of delisting the company. It turns out that buying Tagwoman hasn't worked out so well, at least yet. Revenues increased 4.3% year over year to NIS 236 million, but the company lost NIS 3.5 million - against earning of NIS 3.5 million the year before - after writing off NIS 4 million in goodwill because of the drop in the value of Tagwoman, a subsidiary. H&O runs a chain of family apparel stores; it bought almost 40% of Tagwoman last June for NIS 8 million. (Rotem Sella) Mercantile, which belongs to the Discount Bank group, reported improvement in almost all parameters for the second quarter of 2008. Its income from interest payments on loans rose by 27% to NIS 190 million, and net profit increased 45% to NIS 64 million. The bank had no one-time income or losses to report. Its first-half return on equity dropped to 14.4%, though, compared with 15.2% in the corresponding period of 2007 and 17.2% for all of 2007. Provision for doubtful debt fell by 45% to NIS 16 million. Altogether Mercantile has accrued a balance of NIS 726 million in provisioning to secure NIS 14 billion in credit to the general public. (Tal Levy) Ampa Capital Lease Car is buying the leasing activity of Metis Capital for NIS 46 million. The operations changing hands include a fleet of 785 cars, car lease agreements, maintenance agreements and cash flow from clients. Ampa will assume the leasing activity's liabilities to lenders, totaling NIS 46 million. (TheMarker) The First International Bank of Israel yesterday reported a 3.6% increase in revenues over with the parallel period of 2007, to NIS 522 million. But the bank familiarly known as Beinleumi also posted a 44% drop in profit to NIS 97 million. Beinleumi had no one-time income or losses to report. One reason for the higher revenues is its consolidation with Bank Massad from the second quarter of 2008. Provision for doubtful debt fell by 24% to NIS 25 million. Altogether Beinleumi has accrued a balance of NIS 2.74 billion in provisioning to secure NIS 60.6 billion in credit to the general public. (Tal Levy) Bookmark to del.icio.us   World War III A top Iranian general says an attack on Tehran would ignite a 'world war'. Raising the price Hamas says won't compromise, Israel must free 1,000 prisoners for Shalit.

Read & React Republican Jews: Choice of Palin as VP shows McCain's good judgment Responses: 326 Report: New Hezbollah missiles have range 'Israel can't fathom' Responses: 149 Obama: You can't protect Israel by talking tough in Washington Responses: 133 Jonathan Spyer: Fatah never gave up dream of one-state solution Responses: 131 Jews visit demolished W. Bank settlement for 1st time since pullout Responses: 74 More Headlines 16:09 Top Iran general says attack on Tehran would ignite 'world war' 20:53 Jewish Democrats: Palin is out of step with Jewish public opinion 20:52 Hamas to Israel: We won't compromise, we want 1,000 prisoners for Shalit 13:57 ADL slams Shell, Austrian energy giant for taking part in Iran conference 22:31 Husband of woman suspected of drowning son says she suffered from depression 14:50 This Hyphenated Life post four / The capital of the Jewish World 20:45 Egypt opens sealed Gaza crossing as goodwill gesture before Ramadan 21:20 Nigerian group demands $12m ransom for kidnapped Israeli 12:27 Palestinians remain persecuted minority in post-Saddam Iraq 14:39 'Free Gaza' blockade-busting boats planning a second voyage 11:03 Hezbollah surrenders gunman who mistook Lebanese chopper for that of IDF 17:02 Report: Hezbollah's new missiles have range 'Israel can't fathom' Previous Editions Select Day 29 aug 28 aug 27 aug 26 aug 25 aug 24 aug 22 aug 21 aug 20 aug 19 aug 18 aug 17 aug

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