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The Israel Discount Bank (IDB) ranks third among Israeli banks and carried out a successful international share offering in Mar 1996. IDB will be less affected by new legislation imposing the sale of non-financial asset than will the two other major state-owned banks in Israel, though IDB will have to sell the Mercantile Discount Bank, an affiliate. IDB has a conservative portfolio and is unlikely to present investors with unpleasant surprises, which makes it attractive to foreign investors.

Isareli banks have seen a rise in profit and have benefited from expansion into non-banking areas such as stock broking. This looks set to change due to legislation which imposes divestment of non-financial assets by banks. Further legislation is scheduled that will reduce the role of banks in the capital market. Bank Hapoalim, the most profitable Israeli bank in 1995, is especially likely to be affected by these changes. Foreign competition could also become a problem for Israeli banks.

Sex clubs are flourishing in America despite Aids. An age of abstinence had been prophesied following the spread of Aids but this has not occurred. The Janus Report on Sexual Activities indicates Americans have broadened their sexual experiences since 1990. Dancing clubs offer sex in back rooms and there are more sex clubs than before. The membership of New York's Le Trapeze has increased 30% since 1990. However, there are changes with fewer drugs, more condoms, and greater exhibitionism and voyeurism.

Terrorist are thought responsible for an explosion at the World Trade Center in New York. The explosion occurred at mid-day and trapped many people in the building. It also damaged an underground train station. Five people were killed and 1,042 people received hospital treatment. Investigations suggest the cause was a car bomb placed in a van parked on the second level of the car park below the building. The main suspects are terrorists belonging to a Slav group from former Yugoslavia but Iraqi agents could have been responsible.