International Business

Citibank to Open Office in Israel: The bank will become the first U.S. commercial bank to operate directly in the Jewish state when it opens the representative office next week, the Bank of Israel said. The vice chairman of New York-based Citicorp, William Rhodes, will announce details next week. The Middle East peace process and Israel’s rapidly growing economy have also prompted several foreign investment houses, including Lehman Bros., to open offices in Tel Aviv in the last year.