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International Finance

Chapter Three: Israel

Israel is a small, narrow country—only 68 miles at its widest stretch—that lies at the eastern end of the Mediterranean Sea. The country’s landscape includes mountains, fertile plains, and deserts. The Jordan, the longest of the region’s few rivers, flows into the Dead Sea on Israel’s eastern border. At 1,312 feet below sea level, the Dead Sea is the lowest place (and the saltiest water) on earth. Over time ruled by a series of invaders—Greeks, Romans, Arabs, Turks, British—Israel proclaimed independence in 1948.


What Time Is it in Israel?

Israel is seven hours ahead of Eastern Standard Time. If it’s 10 a.m. in Washington, D.C., then it’s 5 p.m. in Israel.


People

A single law—Israel’s Law of Return—states that settlement is open to Jews from anywhere in the world. Today just over 80 percent of the region’s population are Jews from more than 100 countries. Israel’s people also include Muslims and Christian Arabs. Both Israeli Jews and Arabs can trace their roots to groups that lived in the area centuries ago. Although about 90 per cent of Israelis live in large urban centers, they still follow traditional ways. Grown childrenare expected to live near their families and to help provide for their aging parents.


Doing Business in Israel

If you’re planning to do business in Israel, here are a few tips you might want to know.

Greetings

  • The usual greeting between men is a handshake. Women should wait for the man to offer his hand first.
  • When addressing another person, use the last name and a title (Dr., Mr., Mrs., or Miss) until further instructed. Usually, first names are used after introduction.

Gestures

  • It is considered rude to point at anyone.
  • Always keep your feet flat on the ground. Showing the sole of your foot to an Arab, in particular, is considered offensive.

Protocol

  • Always make a prior appointment. Be punctual.
  • Present an engraved business card. Israelis consider them prestigious.
  • Dress respectfully. Women should wear high necklines, long sleeves, and hemlines well below the knee. A jacket and tie is appropriate for men.
  • Israelis sometimes display an emotional in-your-face negotiating style. Follow their lead.


Want to know more about Israel?

Visit www.israel.org or www. Britannica.com.

 


   
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