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Sat., February 16, 2008 Adar1 10, 5768

Israel Time: 01:28 (EST+7)

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Business in Brief

U.S. the most popular destination for Israelis

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The most popular destination for Israelis in January was the United States, according to figures released by the Israel Airports Authority (IAA). The report on international airline passengers showed 114,000 people flew from Ben-Gurion Airport to the States, a drop of 1.9% from January 2007. The next most popular destination was Britain with 58,475 passengers, up 28.9% over last January. France was third with 53,830 visitors, up 11.6%. Next was Germany with 46,286 and then Turkey with 45,715, a 33.1% rise since last January. (Zohar Blumenkrantz)

Housing demand up, but developers not building

The number of housing starts and completions are still at a low, despite rapid growth in consumer spending and investments alongside the increased demand for apartments in Israel by foreign residents. There were 20% fewer unsold apartments in November 2007 compared with November 2006. The number of housing starts and completions are the leading indicator of activity in the construction industry and housing sector. But the numbers do not seem to match with reports from construction companies of a big increase in building activity in the second half of 2007. Economists at the Bank of Israel cannot explain the apparent paradox that supply is not responding to demand, but they do cite a 2.3% fall in housing prices in the last quarter of 2007 after a 4.3% rise in the third quarter. This reflects the stagnant housing markets in the periphery of the country compared with the big demand and rising prices in the center. (Arik Mirovsky)

Tel Aviv considering requiring hybrid taxis

Tel Aviv city hall is conducting a study on the costs of replacing all taxis in the city with hybrid vehicles. The goal is to cut down on air pollution. According to the plan, which will be presented for approval in two months, all taxis in the city will be required to be hybrids. The switchover would take several years, and taxi owners would be offered subsidies and other incentives to change. The Tel Aviv taxi fleet is about 4,000 to 5,000 vehicles, said the city's environmental authority. Other steps under examination to reduce air pollution in the city center include banning diesel vehicles from town and increasing bicycle use. The city wants to reduce air pollution 50% by 2014. (Daniel Schmil)

Check Point ordered to pay SofaWare NIS 13m

Check Point will have to pay SofaWare NIS 13 million in damages, and another NIS 720,000 in legal fees for violating its agreement, the Tel Aviv District Court ruled yesterday. SofaWare had sued Check Point, which actually controls 60% of SofaWare, for bullying the firm and refusing to transfer money it owed for using SofaWare's technology and products. SofaWare, which also develops information security products, paralyzed SofaWare's operations, claimed the plaintiffs. Itai Bogner, one of SofaWare's founders, filed the suit, and he claimed Check Point had acted against him personally. In the end the judge ruled that Check Point had taken advantage of the situation to appropriate SofaWare's products and make them its own without paying as agreed to in the contract. Check Point CEO Gil Shwed was also criticized for his selective memory and contradictory testimony. (Amit Ben-Aroya)

TA Planning Council approves deposit of 1,000-unit new Northern neighborhood

The Tel Aviv District Planning Council decided to approve for deposit a plan to build over 1,000 new residential units at the northern end of the city, north of what is know as the "Big Bloc". The new plan covers two sites totalling 222 dunams (55 acres). The new neighborhood will yield 1,035 residences, including public buildings and parks. The buildings will be 2 to 4 storeys near the sea, while on the east side they will be 7-15 storeys high. (Raz Smolsky)

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