TASE - Tel-Aviv Stock Exchange

The Tel-Aviv Stock Exchange, also known as TASE, was established in 1935 and is the only stock exchange that is available in Israel. The TASE has a broad spectrum of securities trade products of approximately 1100, that include convertible bonds, shares, government bonds, futures, warrants and corporate bonds. The indices that are available are the TA25 Index, TA100 Index, TA75 Index, Tel-Tech15 and the TA Banking Index. The Tel-Aviv Stock Exchange is supervised and regulated by the Israel Securities Authority, under the 1968 Securities Law. Companies that want to be listed on the TASE can list themselves under any of the four programs that are available. Companies can be listed under two programs simultaneously, being dual listed. The programs, which are AMEX, NYSE, LSE and NASDAQ, are specifically chosen that three programs can accommodate normal companies and the fourth can assist technological companies that are in the developmental stages. A direct link to the DTC, allows the TASE to link up with the United State's markets, through the Depository Trust and Clearing Corporation. This system accommodates trade from the companies that are dually listed. At present, the Tel-Aviv Stock Exchange has approximately 660 companies that are listed in the exchange. In 2000, the Tel-Aviv Stock Exchange, were proud to have twenty-three of its listed companies be included in the FTSE All-World Index. The FTSE All-World Index is a new facility that lists up to 49 of the exchanges that are located across the world. Companies such as the Bank of Israel, Direct Investments House Ltd, HSBC Bank Plc, DS Securities and Investments Ltd and Prisma Capital Markets Ltd are listed on the exchange.

Living standards in Israel are the highest in the entire Middle East and so are the living costs. Many of the immigrants and Palestinians do not prosper here, and do not share in the wealth of the economy, as their wages hardly ever cover the basic accommodation and food costs. The economy of Israel was boosted by Intel that opened the doors to the technological industry, combined with decrease in funds having to be poured into the military budget.

Even though mining plays a significant role in the economy, the extraction of petroleum from the Dead Sea is a small-scale operation. The agricultural sector is very successful. There is not much land available for farming, and yet they are able to provide the domestic demand with up to 75 % of required products. Citrus fruits, dairy products, eggs, cotton, poultry, beef and vegetables are supplied by the agricultural sector. The economy relies heavily on the aid that it receives from the United States of America, and cannot function without this help. The industrial sector produces products such as wood products, food, phosphates, plastics, textiles, medical equipment, tobacco, construction, metal, footwear, diamond cutting, communications and beverages.

The major export markets consist of Belgium, the United States and Hong Kong, and exported products include software, agricultural products, machinery, chemicals, cut diamonds and equipment. Goods such as rough diamonds, fuels, raw materials, investment products, and military equipment is imported from the United Kingdom, China, Switzerland, Belgium, Germany and the United States.

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