Subscribe to Print Edition | Thu., January 08, 2009 Tevet 12, 5769 | | Israel Time: 02:02 (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 Joy of Giving Travel Week's End Anglo File

Markets in Brief Investors irked over Soothing Nipple Cream Advertisement Chemipal yesterday advised that it and Avent, the maker of baby bottles and other products, face a class action motion. The plaintiffs claim that in contravention of Health Ministry rules, Chemipal and Avent failed to delete the directive to wipe off Soothing Nipple Cream (made by Avent, sold by Chemipal) from one's nipple area, and then wash the breast before feeding a baby. (TheMarker) Dov Moran freeing time for baby Modu Dov Moran, famous for founding flash memory pioneer systems, is stepping down as chairman of Tower Semiconductors in order to devote more time to his new baby, the cellular startup Modu. Though Modu has raised remarkable sums of money, about $80 million, it has also cut back staff and salaries on the assumption that the slowing world economy might impair demand for cellular doodads. Over at Tower, Moran will be succeeded by Amir Elstein, until now the chief financial officer at Teva Pharmaceuticals. Moran will remain on the Tower board. (Shmuel Shuster) Hear ye hear ye: Tao Tsuot couldn't get a better price and that's that, it told disgruntled bondholders yesterday. Bondholders of Tao, which is controlled by Ilan Ben-Dov, claim that the price Tao agreed to sell its stock to Scailex, was too low. In that insider transaction, Tao agreed to sell the shares for NIS 30 each, but the bondholders feel that the appropriate price should have been what Tao paid for the Scailex shares. But that is pretty much what Tao claims it paid for the shares, in multiple transactions after adjustments: NIS 29.55, and it can't get a better price. (Sharon Shpurer) Yali Shefi is leaving Phoenix after all First came the rumor, then the denial and now comes the fact: Yali Shefi is stepping down as CEO of the Phoenix assurance company. He'll be succeeded by Eyal Lapidot, 42, CEO of Delek Israel. (Both companies are controlled by Yitzhak Tshuva.) Phoenix had a rocky year, shamed by lower returns on investment than achieved by rival insurers. Its portfolio is dotted with investments that one might call "courageous." And then there's the option Phoenix gave to Roni Biram and Avi Deutsch to sell it their shares in the investments firm Excellence Nessuah, which comes into force in February. It turns out that the option prices Excellence at more than a billion shekels. Phoenix would have to pay NIS 500 million for a 40% stake in Excellence, which is more than its present market capitalization. Shefi insists that the valuation is justified. (Eti Aflalo) Queenco taking over Belgrade casino Queenco Leisure International says its affiliated company Club Hotel Loutraki is buying a casino in Belgrade. Specifically, it's buying 51% of Grand Casino Beograd, a company that runs a casino in Belgrade, from Casino Austria for euro 42 million. The deal brings Queenco's stake in the Belgrade gaming emporium to 90%. The first tranche of payment is due on closing and the remaining euro 33.6 million is to be paid six months afterwards. Closing depends on approval from the Serbian authorities, Queenco adds. Also Loutraki has an option to buy 50% or 75% of Grand Casino Brussels, if it closes the Beograd deal first. (TheMarker) Midroog downgrades Fix A2 Euro to A3 Midroog has downgraded Fix A2 Euro's B1 bonds from A2 to A3, and moreover, the credit rating agency is leaving the bonds on its credit watch list. That may portend another downgrade in the future. Midroog says the risk factor of the assets backing Fix's bonds has worsened, and that some of them are on Moody's watch list. Fix is a special-purpose company that issues bonds linked to the euro in Israel, which are backed by corporate euro-denominated bonds of foreign companies. (TheMarker) Amex the tree-hugger American Express Israel has pledged to plant a tree for every client who agrees to receive account updates via e-mail rather than through monthly letters. The credit card company is launching a million-shekel campaign, online and yes, in the printed press. Bank Hapoalim by the way was first to promise to plant a tree for each client who agreed to eschew snail mail. (Sharon Shpurer) TASE updating illiquid shares list The following companies join the list of relatively illiquid shares from February 15, 2009. Once on the list, there is no continuous trading in their shares, and trading takes place twice a day only. The list is based on the average daily turnover in their stock during the six months ending on January 15. The candidates are Ace Depot, Amir Marketing, Aran Research & Development, Argaman, Arko Holdings, Ashlad, Aviv Solutions, Bee Contact, Boymelgreen Capital, Brimag Digital, Building Resources, Carmel Holdings, Cham Foods, Chayon Computers, Cohen MM, Data JCE, Direct Capital, Dorea Investments and Developments, Duniec Bros, Eldav Investments, Elul Tamarind, Engel Resources, Enter Holdings, Euro Sat, Eurocom GRE, Gaon Agro, Hanan Mor, ILD Insurance, Isrotel, Kafrit, Klir, Landmark Group, Lapidot Heletz, Macpell, Molodan, Naaman Porcelain, Nepco Star, New Horizon, Nisko Projects, Nissan Medical Industries, Optima, Orad Hai Investments, Oren Investments, Procognia, Psagot Financing and Factoring, Rabintex, Radcom (dual-listed), Sahar Invest, Semicom Industries, Shamir Foods, Shrem Fudim Technology, Sprint Investments, Synel Industries, Synergy Cables, Tachlit Sal, Tadea, Tadir Gan, Technoplus Ventur, Tibon Veal, Trans Terra Investments, TRD, Trendline, Yaad Industrial Representation, Yuli Capital Markets, and last but not least, ZBI. (TheMarker) Bookmark to del.icio.us   Humanitarian initiative There is a way for Israel to prove it is committed to universal moral values. Top Targets An Islamist site is compiling a list of U.K. Jews to target over Gaza op.

Read & React Bradley Burston / A Jew's prayer for the children of Gaza Responses: 52 IDF: Shelled UN school in Gaza used as hideout by Hamas Responses: 100 ANALYSIS / Using aggressive tactics in Gaza to save soldiers' lives Responses: 23 Venezuela's Chavez: Gaza operation is a Palestinian 'holocaust' Responses: 26 Amira Hass: Lucky my parents aren't alive to see Israel bomb Gaza Responses: 40 More Headlines 23:29 Israel bombs south Gaza tunnels, tells local residents to flee 01:09 Barak: If cease-fire deal doesn't meet Israel's demands, Gaza operation will continue 21:55 Clashes resume in Gaza City after 3-hour humanitarian truce 22:58 Rice: Gaza truce needed, but must not allow return to 'status quo ante' 18:30 Defense sources: Even if Hamas agrees to truce, its armed wing may resist 23:37 25 Gaza rockets strike Negev over course of Wednesday 21:27 Obama vows to 'engage immediately' on Mideast once inaugurated 12:57 A Jew's prayer for the children of Gaza 18:20 Get up to the minute coverage of the warfare in Gaza directly to your email 11:35 ANALYSIS / Israel must double, triple, quadruple its medical aid to Gaza 14:34 Report: Islamist site compiling list of U.K. Jews to target over Gaza op 20:40 In battle for public opinion, IDF Web site puts female face forward 16:14 Israel defers vote on expanding Gaza ground op amid growing truce bids 22:00 Joe the Plumber named conservative Web site's war correspondent in Israel 14:53 Nasrallah: Hezbollah will make Lebanon war look like 'a walk in the park' 01:51 German court rules Nazi hit man unfit to stand trial 01:24 IDF reserve forces receive fictitious calls for duty in Gaza 21:35 WATCH: Former Israeli Ambassador to the U.S. Zalman Shoval on Gaza conflict 21:33 U.S. rabbi raises $100,000 to buy care packages for IDF troops in Gaza 14:19 Amira Hass / 86 hours after Gaza home shelled, family still lacks medical aid Previous Editions Select Day 07 jan 06 jan 05 jan 04 jan 02 jan 01 jan 31 dec 30 dec 29 dec 28 dec 26 dec 25 dec

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