Subscribe to Print Edition | Mon., January 28, 2008 Shvat 21, 5768 | | Israel Time: 01:47 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

Business in Brief The Swiss investment firm UBS now predicts that Israel's GDP will grow by 3.8% in 2008, not 4.2% as originally thought, chiefly because of the local economy's exposure to the U.S. economy. Some 37% of Israeli exports go to the U.S., UBS points out, hence trouble there could dampen growth at home. Also, UBS cut its growth forecast for 2009 from 4.4% to 4.1%. (Tal Levy) Until now, the annual Wages Report has delighted and irritated the nation, depending on one's point of view, with revelations about the highest earners in the public sector. From now on, according to a bill tabled by MK Shelly Yachimovich which was approved by the legislative committee of the Knesset, the report will also cover the worst-paid workers. (Zvi Zrahiya) Advertisement Today the Bank of Israel will be announcing interest rates for February 2008. Most analyst expect governor Stanley Fischer to keep the central bank rate unchanged at 4.25%, in part because the Fed suddenly upped and slashed the U.S. funds rate to 3.5% and is widely expected to cut another 25-50 basis points from that rate on Wednesday. Bank Hapoalim and Bank Leumi are among those predicting no change in the Israeli rate. (TheMarker) "Real estate stocks? No thanks," thus Clal Finance Batucha on the battered sector. True, the subprime and credit crises have created gorgeous opportunities for powerful firms flush with cash. But it's become harder and costlier to borrow, which is one reason why analyst Yuval Ben-Zeev has cut his 12-month price target for Africa Israel by 23% to NIS 330. Previously Ben-Zeev had lowered targets for Gazit Globe and GTC, two other large-cap real estate stocks. (Michael Rochvarger) Bank Leumi is negotiating to include Dexia Israel in the consortium that will, one day, finance the construction of part of Tel Aviv's light-rail system. Leumi won the race to lead the consortium that will be financing the shekel part of the deal, at about NIS 2 billion. The 1.4 billion euros of foreign financing will be handled by a group led by FKW and Bayern LB of Germany. The train will be built by the MTS group. (Avi Bar-Eli) A Haifa court has fined the Super-Sol supermarket chain NIS 471,000 for misleading consumers and for 17 other offenses, including using prices at the cash register that didn't match price labeling on products. The offenses were discovered throughout northern Israel, at several Super-Sol outlets. It was the highest fine ever imposed in the country for these types of offenses. Five top Super-Sol executives were personally fined a combined NIS 9,000 in the case. This chain may have problems learning its lesson: It was fined NIS 450,000 for misleading consumers in October 2006. (Rina Rozenberg) Bookmark to del.icio.us   Kitler Cat Germany's Green Party uses a cat resembling Hitler to criticize extreme rightists. Sorrymania Israel is reportedly planning to apologize to ex-Beatles for banning a concert in 1965.

Today Online Bradley Burston: What if the Hillary haters were right all along? Responses: 138 PM: Delay talks on J'lem to avoid peace process derailment Responses: 123 Report: Chief Rabbi says move Gazans to a Palestine in Sinai Responses: 121 Officials: Israel won't let Gaza border breach threaten security Responses: 71 Obama: Opponents trying to weaken my support among Jews Responses: 70 Haaretz TV: Lavish Israeli Bat Mitzvahs - when excess is best Responses: 18 More Headlines 00:27 Obama: Opponents trying to weaken my support in Jewish community 00:52 Abbas wins int'l backing for PA control at Egypt-Gaza border 01:47 IDF worried Lebanon war probe report will damage its image 00:55 Olmert: Israel will not ignore any calls for its obliteration 21:32 IDF troops kill Palestinian teen, hurt another in Bethlehem raid 01:01 With eye to 60th celebrations, Israel makes amends for 1965 Beatles ban 19:58 Israeli official: Bolton said Rice caved on truce terms to end 2006 Lebanon war 20:10 PM: Delay talks on Jerusalem to avoid derailing peace process 19:26 Sharon's son heads to jail as court nixes corruption appeal 23:13 Mofaz adopts findings of report on B-G Airport flight safety failures 19:06 Unique glass mosaic unveiled after restoration in Caesarea 18:21 Report: Chief Rabbi says move Gazans to a Palestine in Sinai 19:03 Lieberman: Egypt is lying to Israel and working against our interests 00:59 U.S. envoy begins mission to monitor compliance with road map Previous Editions Select Day 28 jan 27 jan 25 jan 24 jan 23 jan 22 jan 21 jan 20 jan 18 jan 17 jan 16 jan 15 jan

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