Subscribe to Print Edition | Tue., December 02, 2008 Kislev 5, 5769 | | Israel Time: 02:41 (EST+7)   Back to Homepage web haaretz.com Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File

Business in Brief Gasoline prices drop 9% this morning Advertisement Gasoline prices decreased 9% at midnight due to the steep drop in world oil prices. The cost of a liter of 95-octane is now NIS 5 for self-service. This is a cut of 49 agorot per liter, and gas has now returned to its March 2005 level. This is the third month in a row that gas prices have dropped. Other fuel prices also dropped: Diesel fuel went down for the sixth month in a row, this time by another 14.5%; and fuel oil dropped 32%. (Avi Bar-Eli) Capital market reforms committee disbanded The Ariav Committee on the next steps in capital market reforms was officially disbanded yesterday by the Finance Ministry, a year after it was established and three months after it was scheduled to present its recommendations. It seems treasury director general Yarom Ariav's dream of turning Israel into a world financial center will have to wait, at least until the present global economic crisis is over. The committee was meeting once a week, but has not met for more than a month. The committee's mandate was to plan the follow-up to the 2004 Bachar Committee reforms. One committee member said he had not yet received an official announcement of the disbanding, but said he was not surprised. (Sharon Shpurer) Public transport prices to rise 8% in January Fares for public transportation will rise by an average of 8% on January 1, 2009. The finance and transportation ministries decided at the last moment to reduce their planned 12% increase, as fuel prices have dropped sharply in past months. The decision was made by an interministerial price committee from the two ministries, but Transportation Minister Shaul Mofaz said he would not allow it - and would not sign the required regulations, even though his ministry approved the change. The increase was approved by the cabinet in August, before the upcoming elections were called. (Avi Bar-Eli) Car importers cutting way back on orders Car imports from Asia are expected to drop by two-thirds at the beginning of 2009. The number of the huge car-carrying ships on the Japan- and South Korea-Eilat route will be reduced from three a month to only one, due to a drop in new car orders here in Israel. The ships belong to shipping companies Zim and the Japanese NYK. The cut is planned at least through April, when a change could be made. Car importers now have 30,000 unsold cars backing up in the ports, with more on the way. 52% of new cars arrive via Eilat, about 100,000 in 2007. The Eilat Port makes 71% of its revenues from these cars. (Daniel Schmil and Avi Bar-Eli) Bank of Israel to keep buying dollars The Bank of Israel will buy up another $3-$7 billion, after it has completed its previous $10 billion foreign-currency purchase, announced in March. The central bank will continue to purchase $100 million a day in the market, and will increase its foreign currency reserves to $40-44 billion. The bank started buying foreign currency when the dollar was at the NIS 3.20 level, and the stated goal at the time was to increase reserves by $10 billion. (Moti Bassok) More high-tech layoffs: NDS firing 100; AxisMobile, 22, and closing down Rupert Murdoch's Jerusalem-based NDS is firing 100 out of 1,100 employees in Israel, about 9%. The firm, which specializes in smart-card technology for paid television access, said it is cutting back to improve its bottom line. NDS said it was not cutting R&D. AxisMobile, which was bought out in August by British firm Synchronica, is firing its remaining 22 employees in Israel and closing down its operations here. At the time of the sale there were 52 local employees. (Ido Solomon) Bookmark to del.icio.us   Boycotting Wagner The composer's works will remain a sensitive topic in Israel for many years. Bound for Gaza The Libyan ship is the most notable attempt yet to break the Gaza blockade.

Read & React Amos Harel: After Mumbai, the war against terror has changed Responses: 52 EU document on Israel, Mideast: Re-open Orient House Responses: 235 Anshel Pfeffer: Israel, stop offending India over Mumbai Responses: 62 Pope praises Nazi-era pontiff accused of Shoah inaction Responses: 57 Israeli Opera to uphold Wagner ban over Nazi link Responses: 47 More Headlines 00:32 Six bodies of Mumbai Chabad victims arrive in Israel 00:15 Olmert: I'm convinced Hillary Clinton will advance Israel-U.S. relations 01:07 Parents of Mumbai terror victim: We may take Rivka's place as Chabad envoys 21:43 Olmert offers condolences to Indian PM over Mumbai deaths 23:09 Hamas tells Haaretz journalist Amira Hass to leave Gaza 21:45 Bush: My biggest regret is false intelligence on Iraq WMDs 01:02 Israel turns back Libyan ship bound for Gaza with aid 00:56 Fetus kept in formaldehyde for 11 years found in Jerusalem 14:06 Israeli Opera to uphold Wagner boycott over link to Nazis 14:36 Indian investigators: Mumbai attackers trained in Pakistan 21:45 Iran dismisses Israeli military threats as 'psychological warfare' 12:14 German firms seek to bypass Berlin sanctions on Iran 14:29 Body of Israeli Omri Kidron found 5 months after he disappeared in China 11:06 Israeli security accidentally intrudes on live Livni interview 02:32 Five Palestinians hurt in clashes with settlers in Hebron 09:46 Eight IDF soldiers among 25 nabbed in drug trafficking bust Previous Editions Select Day 01 dec 30 nov 28 nov 27 nov 26 nov 25 nov 24 nov 23 nov 21 nov 20 nov 19 nov 18 nov

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