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Costa Rica has agreed to sell more than 32000 tonnes of sugar this year to the Soviet Union a spokesman for local producers said. Miguel Alfaro president of the agricultural league of the sugar cane industry said the sale follows a recent 50 pct cut in Costa Ricas quota for sugar exports to the U.S. Alfaro said up to 4... | COSTA RICA SELLS SUGAR TO SOVIET UNION |
Stock index-related arbitrage trading did not spark the dramatic drop in the U.S. stock market last September nor is a free-fall in stocks and futures prices due to arbitrage trading a likelihood a top official with the Securities and Exchange Commission SEC said. Richard Ketchum director of SECs division of market reg... | DANGER OF ARBITRAGE TRADING DOWNPLAYED |
Corning Glass Works is raising 75 mln dlrs through an issue of 8-1/4 pct 15-year non-callable debentures priced at par underwriters Goldman Sachs and Co and Lazard Freres and Co said. Proceeds will be used for general corporate purposes. Reuter | CORNING GLASS <GLW> SELLS DEBT AT 8.25 PCT |
<Bayou International Ltd> said it purchased one-third of the outstanding stock of Solmecs Corp N.V. a Netherlands Antilles corporation for 1750000 dlrs. Bayou said it will also receive two seats on Solmecs board. Bayou Ltd is 55.2 pct owned by Australia Wide Industries Ltd. Solmecs develops technology relating to en... | BAYOU INTERNATIONAL BUYS STAKE IN SOLOMECS |
Quarter ended Feb 28 Shr four cts vs seven cts Net 500000 vs 900000 Revs 9200000 vs 10500000 Year Shr four cts vs 12 cts Net 600000 vs 1500000 Revs 17.6 mln vs 20.8 mln Reuter | MICROPRO INTERNATIONAL CORP <MPRO> 4TH QTR NET |
 INTERNATIONAL PHARMACEUTICAL GETS FDA APPROVAL COSTA MESA Calif. March 19 <International Pharmaceutical Products Inc> said it received Food and Drug Administration approval to market an injectable drug for treating several forms of cancer. The drug called Methotrexate Sodium Injection is commonly used alone or ... | |
Tofruzen Inc said it received an exception to the NASDs asset requirement allowing its units common stock and warrants to remain listed on the NASDAQ system. Reuter | TOFRUZEN <YUMYC> TO REMAIN LISTED ON NASDAQ |
Net 41724 vs 120329 Revs 1194556 vs 1504702 Reuter | (EXPLOSIVE FABRICATORS INC) 1ST QTR JAN 31 NET |
<Trans-Canada Resources Ltd> said an Alberta court on March 6 granted it an extension to April 6 from March 9 on Trans-Canadas filing of a plan of arrangement with the court and extended to May 22 a stay of legal proceedings against the company. The court also ruled that shareholders and creditorss meetings must occ... | TRANS-CANADA RESOURCES GETS CREDITOR EXTENSION |
Dominican Alfredo Ricart will take over as executive director of the International Sugar Organization (ISO) in mid-April ISO officer in charge Constantin Politoff said. Previous ISO chief William Miller retired at end-February last year. Ricart told Reuters his first aim is put the house in order by having a new admini... | NEW CHIEF ELECTED FOR WORLD SUGAR ORGANISATION |
Delmed Inc said it sold sales and distribution rights of its peritoneal dialysis products to National Medical Care Inc and entered a five-year agreement to supply National Medical with dialysis solutions. Terms were not disclosed. Half of the proceeds from the sale went to its principal bank group and unsecured credito... | DELMED <DMD> SELLS RIGHTS, PAYS CREDITORS |
The International Sugar Agreement (ISA) will be renegotiated International Sugar Organization (ISO) officer in charge Constantin Politoff told Reuters after a special session of the pacts council. A decision on how to renegotiate will be taken at the ISO six monthly session in May. The alternatives are between an autum... | INTERNATIONAL SUGAR PACT TO BE RENEGOTIATED |
The Gap Inc said it named Millard Drexler as its president. Drexler 42 had been executive vice preisdent for merchandising and president of the Gap Stores Division. Previously Chairman and Chief Executive Officer Donald Fisher also held the position of president as well. Drexler retains his position as president and ch... | THE GAP INC <GPS> NAMES PRESIDENT |
Laser Corp said that costs associated with its defense of two shareholder lawsuits could result in a net loss for 1987. Although Laser expects to post earnings from operations for the year a spokesman said they might be wiped out by legal costs depending on the length of litigation. In addition the company said it will... | LASER <LSER> SEES IMPACT FROM SUIT ON EARNINGS |
Whether the European Communitys Council of Ministers will approve a proposed tax on vegetable oils that has sparked threats of U.S. retaliation is uncertain an EC official said. It is very far from certain that it will go through Sir Roy Denman Head of the EC Delegation in Washington told reporters before he addressed ... | E.C. OFFICIAL SAYS FATE OF VEG OIL TAX UNCERTAIN |
Shr profit two cts vs profit two cts Net profit 216000 vs 265000 Revs 1.7 mln vs 1.4 mln Year Shr profit four cts vs loss two cts Net profit 528000 vs loss 290000 Revs 5.9 mln vs 5.5 mln NOTE:1986 net includes realized investment gains of 3000 dlrs in year. 1985 4th qtr and year includes realized investment gains of 16... | PENSION INSURANCE GROUP <PGAI> 4TH QTR |
Qtly div 44 cts vs 44 cts Pay April 30 Record April 4 Reuter | TRANSAMERICA CORP <TA> QUARTERLY DIVIDEND |
Qtly div 57 cts vs 57 cts Pay April 30 Record April 3 Reuter | SOUTHERN CALIFORNIA EDISON CO <SCE> QTLY DIV |
Qtly div nine cts vs nine cts Pay May 21 Record May 1 Reuter | COMPREHENSIVE CARE CORP <CMPH> QUARTERLY DIV |
Qtly div 12 cts vs 12 cts Pay April 8 Record April 1 Reuter | GREAT WESTERN SAVINGS BANK <GWSB> QUARTERLY DIV |
The U.S. Senate has unanimously called for President Reagan immediately to force Japan to live up to a pledge to stop dumping its microchips and open its markets to U.S. Chipmakers. The Senate voted 93 to 0 to urge Reagan to impose penalties on Japanese high-technology products containing semiconductors in retaliation ... | SENATE WANTS JAPAN SEMICONDUCTER PACT ENFORCED |
PRESIDENT REAGAN SAYS HE WILL VETO ANY TAX INCREASE VOTED BY CONGRESS | |
PRESIDENT REAGAN URGES PASSAGE OF BALANCED BUDGET AMENDMENT | |
President Ronald Reagan said he would veto any tax increases voted by Congress. My pledge to veto any tax rate increase remains rock solid Reagan said during a televised news conference. The president said he opposed efforts by some members of Congress to back away from deficit reduction targets set by the Gramm-Rudman... | PRESIDENT REAGAN VOWS TO VETO ANY TAX INCREASE |
President Reagan denied he had been told that profits from sales of arms to Iran had been used to aid the U.S.-backed contra rebels in Nicaragua. No that is not true he said before a televised news conference when asked about reports that he had been told about the money diversion by his former National Security Advise... | REAGAN DENIES TOLD IRAN PROFITS WENT TO CONTRAS |
PRESIDENT REAGAN SAYS U.S. STILL INVESTIGATING ACID RAIN PROBLEM | |
President Reagan said the U.S. government is still looking into the problem of acid rain. Were still investigating this he told a nationally televised news conference. Reagan added that the government will now work with U.S. industry to help address the problem. However he declined to endorse the writing of federal sta... | REAGAN SAYS U.S. STILL PROBING ACID RAIN PROBLEM |
REAGAN SAYS U.S. MUST DO MORE TO LESSEN RELIANCE ON FOREIGN OIL | |
President Reagan said the United States must do more to lessen its reliance on imported oil. President Reagan said during a nationally televised news conference that the rising U.S. reliance on foreign oil is a problem that the administration is studying. We have to study this more Reagan said. This is why we increased... | REAGAN SAYS U.S. NEEDS TO LESSEN OIL IMPORTS |
Belgrade trade union leaders have joined attacks on a controversial wage freeze in Yugoslavia and reported strikes spreading to the capital. Miodrag Lazarevic president of the Belgrade trade unions council said the government must take responsibility for the effects of the law imposing the wage freeze. Under the law wh... | BELGRADE UNIONS ATTACK YUGOSLAV PAY FREEZE |
Export orders for Taiwanese products fell 1.37 pct to 3.58 billion U.S. Dlrs in February from 3.63 billion in January but rose nearly 43 pct from 2.51 billion a year earlier an Economic Ministry official said. He attributed the fall to the rising Taiwan dollar. February orders for electric and electronic goods were 619... | TAIWAN'S EXPORT ORDERS FALL IN FEBRUARY |
West German President Richard von Weizsaecker called on creditor banks to ease pressure on Argentinas foreign debt repayment terms. We cannot remain indifferent to the pressure of creditor banks since there is correlation between political stability and the economic situation Weizsaecker told reporters. Argentina said ... | WEIZSAECKER CALLS FOR EASIER ARGENTINA DEBT TERMS |
About 9000 miners employed by the state corporation Comibol declared a general strike as from midnight (0400 gmt) to press for higher salaries a statement by the federation for Bolivian mine workers said. It said the strike was called to defend the nationalised mining industry. The miners were willing to negotiate with... | BOLIVIAN MINERS CALL GENERAL STRIKE |
The Chinese port of Ningbo is working well below capacity despite being only 130 miles from Shanghai which is seriously congested a port official said. Jiang Feng Xiang said the port -- the deepest in China -- handled 17.95 mln tonnes of cargo last year up from 10.44 mln in 1985 but well below its potential capacity of... | CHINESE PORT UNDERUSED DESPITE CONGESTION NEARBY |
President Reagan accused the Soviet Union of exceeding a traditional restrictive reading of the 1972 Anti-Ballistic Missile treaty but said the U.S. Saw no reason yet to follow suit. We believe that the Soviet Union has been going even beyond a liberal interpretation of the treaty he said at a news conference. There ha... | U.S. SAY SOVIET UNION HAS EXCEEDED MISSILE PACT |
Finance Minister Kiichi Miyazawa said Japan plans to announce a package of economic measures immediately after the 1987/88 budget passes Parliament. The passage of the full budget is expected after May 20 as the government has decided to compile a 50-day stop-gap budget for the year starting April 1. An opposition boyc... | JAPAN ECONOMIC PACKAGE AFTER BUDGET - MIYAZAWA |
Federal Reserve Board Chairman Paul Volcker said the U.S. Trade deficit is a challenge for the U.S. Equal to the Soviet Union launching of Sputnik. The international challenge implicit in our huge trade deficit has become the 1980s equivalent to the launch of Sputnik by the Russians in the 1950s when we suddenly feared... | VOLCKER SAYS U.S. TRADE DEFICIT IS MAJOR CHALLENGE |
Japanese short-term interest rates buoyed recently by seasonal factors are likely to fall from the beginning of April when the new financial year begins money traders said. The Bank of Japan is expected to encourage the trend following its attempts to pressure rates to enhance its discount rate cut on February 23 they ... | SHORT-TERM YEN INTEREST RATES SEEN FALLING SOON |
The state-owned Krung Thai Bank Ltd will start taking over state-owned Sayam Bank Ltd and complete the process in a year Finance Minister Suthee Singhasaneh told a press conference. He said the takeover decision was made this week to stem the current heavy losses of Sayam and to avoid competition between the two state-... | KRUNG THAI BANK TO TAKE OVER SAYAM BANK |
Japanese customs faced with a flood of fake Reebok sneakers from South Korea have turned away some 100000 pairs since last summer Rebook officials said. A Ministry of Finance spokesman said officials at the ports of Tokyo Osaka Yokohama and Kobe had begun barring counterfeit footwear but declined to say how many pairs.... | JAPAN TURNS AWAY FAKE SOUTH KOREAN FOOTWEAR |
Group shr 17.68 yen vs 26.49 Net 14.70 billion vs 21.92 billion Pretax 35.76 billion vs 48.85 billion Operating 32.88 billion vs 51.90 billion Sales 788.73 billion vs 796.24 billion NOTE - Company forecast for current year is group net 15.50 billion on sales of 800 billion. REUTER | KOMATSU LTD <KOMT.T> YEAR 1986 |
The Reserve Bank said it would offer 400 mln dlrs of 13-week treasury notes and 100 mln of 26-week notes for tender next week The bank said it would not take up any stock at next weeks auction. REUTER | AUSTRALIAN TREASURY NOTE TENDER 500 MLN DLRS |
South Koreas current account surplus narrowed to 419 mln dlrs in February from 679 mln in January compared with a deficit of 112 mln dlrs in February last year provisional Bank of Korea figures show. The current account in the two months of January and February swung to a surplus of 1.1 billion dlrs from a deficit of 4... | S. KOREAN FEBRUARY CURRENT ACCOUNT SURPLUS NARROWS |
Parent shr 37.12 yen vs 34.97 Div 9.50 yen vs 7.50 Net 33.34 billion vs 31.05 billion Current 79.30 billion vs 73.32 billion Operating 72.13 billion vs 65.53 billion Sales 1222 billion vs 1211 billion Outstanding shrs 897.96 mln vs 887.76 mln NOTE - 1986/87 dividend included two yen bonus dividend to mark 80th annivers... | KIRIN BREWERY CO LTD <KNBW.T> YEAR TO JANUARY 31 |
Three geographically diverse droughts in Asia are being linked by some scientists to a reintensification of the complex and little-understood El Nino weather pattern <Accu-Weather Inc> a commercial weather forecasting service said. Rice and wheat farmers in China wheat and sugarcane growers in Australia and tea plan... | ECONOMIC SPOTLIGHT - ASIAN DROUGHTS |
<Morgan Guaranty Australia Ltd> said it is expanding its 200 mln U.S. Dlr Euro-commercial paper program to include Australian dollar issues. The proportion of the facility to be issued in Australian dollar paper will depend on investor demand but the total outstanding value will still not exceed 200 mln U.S. Dlrs. M... | MORGAN GUARANTY OFFERS AUSTRALIAN DOLLAR ISSUES |
Federal Reserve Board Chairman Paul Volcker said the suspension by Brazil of its foreign debt payments would not undermine U.S. Banks. But he told Reuters after a speech to educators that it was in the interest of U.S. Banks to complete debt financing plans soon with Brazil and other debtor nations. I dont think its go... | VOLCKER SAYS BRAZIL DEBT MOVE WILL NOT HURT BANKS |
New Zealand investment companies <Rainbow Corp Ltd> and <Equiticorp Holdings Ltd> have placed the majority of their joint shareholding in oil and gas conglomerate Ultramar PLC <UMAR.L> at prices up to 2.20 stg per share the companies said in a statement. The companies said they had bought their 4.9 pct stake i... | RAINBOW AND EQUITICORP PLACE ULTRAMAR STAKE |
Hardliners have blocked debate on a key economic reform in Chinas parliament a clear challenge to reformers among the leadership western diplomats said. The annual session of the National Peoples Congress next week was to have discussed a draft law which would bolster the independence of factory chiefs while eroding th... | CHINA OMITS KEY REFORM FROM PARLIAMENTARY AGENDA |
Communist rebels killed 18 soldiers on Mindanao island in the southern Philippines the army said. Military officials said about 70 soldiers on foot patrol were attacked by guerrillas on the border area around Misamis Occidental and Davao del Sur provinces. The state-run Philippine News Agency said at least 18 rebels di... | REBEL AMBUSH KILLS 18 SOLDIERS IN PHILIPPINES |
Two World Bank review teams are in the Philippines to assess government requests for funding for an expanded housing plan and an accelerated land reform program bank officials said. They told Reuters the housing program loan request is for 100 mln to 150 mln dlrs. The government has said it will ask for another 500 mln... | WORLD BANK TEAMS STUDYING PHILIPPINE LOAN REQUESTS |
Copper shipments are likely to be delayed because of power problems at <Philippine Associated Smelting and Refining Corp> (PASAR) the countrys only smelter a company official said. Asked to confirm reports by New York copper trade sources about PASARs shipment problems marketing manager Deogracias Madrid told Reuter... | PHILIPPINE COPPER SMELTER FACES SHIPMENT DELAYS |
The West German federal state of Schleswig-Holstein is issuing a 400 mln mark domestic bond carrying a coupon of six pct and priced at 100.40 lead manager Landesbank Schleswig-Holstein - Girozentrale said. The eight-year offer yields 5.94 pct to retail investors at issue and will go on sale on March 25. Some 300 mln wi... | SCHLESWIG-HOLSTEIN ISSUES 400 MLN MARK BOND |
German M3 rose 2.6 billion marks in February to 1,035.1 billion - Bundesbank | |
West German M3 money supply rose a seasonally adjusted 2.6 billion marks in February to 1035.1 billion the Bundesbank said. The rise compares with a revised 14.8 billion mark increase in January and a 2.2 billion rise in February 1986. REUTER | GERMAN M3 RISES 2.6 BILLION MARKS IN FEBRUARY |
SAS SAYS PLANS TO BUY 12 MCDONNEL DOUGLAS MD-11s IN DOUBT- OFFICIAL | |
Steel output in the major non-Communist producing countries fell sharply in February continuing a long-running trend International Iron and Steel Institute figures showed. Production in the 30 countries which report their figures to it was 6.9 pct below the February 1986 level at 32.03 mln tonnes. Output in the United ... | NON-COMMUNIST STEEL OUTPUT CONTINUES TO FALL |
Guinness Plc <GUIN.L> said it has started court proceedings against former chairman and chief executive Ernest Saunders and non-executive director Thomas Ward for recovery of 5.2 mln stg. The money was paid to Ward via Marketing and Acquisition Consultants Ltd in Jersey. Guinness said earlier it would propose a reso... | GUINNESS STARTS COURT ACTION AGAINST SAUNDERS |
The Dutch Central Bank said it has accepted bids totalling 4.00 billion guilders at tender this morning for new five-day special advances at 5.3 pct for the period March 20 to 25. Subscriptions to 250 mln guilders were fully met amounts above 250 mln at 30 pct. The new facility replaces old 11-day advances totalling 6.... | NEW DUTCH ADVANCES TOTAL FOUR BILLION GUILDERS |
SAS <Scandinavian Airline Systems> said it was postponing a decision on a 10-billion crown order for 12 McDonnell Douglas <MD N> MD-11 airliners following what it said was an aggressive counter-bid from Airbus Industrie. SAS signed a letter of intent for the MD-11s last December but a company statement said the d... | SAS POSTPONES PLANS TO BUY 12 MD-11S |
An official proposal that Finland scrap price controls and replace them with a system aimed at promoting competition is expected to go to parliament later this year officials said. The proposal handed to the government yesterday calls for parliament to be empowered to order three-month price freezes in place of the con... | FINLAND CONSIDERS ABOLISHING PRICE CONTROLS |
The Bank of England said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 950 mln stg in the money market today. Among the main factors affecting liquidity bills maturing in official hands and the take-up of treasury bills will drain around 572 mln stg while a... | U.K. MONEY MARKET OFFERED EARLY ASSISTANCE |
McCarthy and Stone Plc a public U.K. Company which owns and operates retirement homes has signed a 100 mln stg multi-option facility National Westminster Bank Plc said as arranger. The facility incorporate a 70 mln stg committed element from a group of international banks. The facility will provide the group with worki... | MCCARTHY AND STONE GETS 100 MLN STG FACILITY |
Abbey National said it cutting U.K. Mortgage rate by 1.125 pct to 11.25 pct | |
Rain and floods in India last year damaged about 69000 tonnes of grain intended for human consumption during storage and transportation food and civil supplies minister H. K. L. Bhagat told Parliament. He did not give comparative figures and said the government-owned Food Corporation of India (FCI) had not yet decided ... | INDIA DETAILS RAIN/FLOOD DAMAGE TO GRAIN IN 1986 |
The death of the worlds tropical rain forests could trigger a new debt crisis and social and biological disasters scientists and ecologists involved with the International Tropical Timber Organisation (ITTO) said. At stake is the ability of developing nations including Brazil Mexico and the Philippines to service their... | TROPICAL FOREST DEATH COULD SPARK NEW DEBT CRISIS |
The Finance Ministry plans to further ease restrictions on large-denomination bank deposits this year and is studying several deregulation plans a ministry official said without elaborating. Banking sources told Reuters the ministry plans to lower the minimum denomination of money market certificates (MMCs) to 10 mln y... | JAPAN PLANS MORE DECONTROL ON LARGE BANK DEPOSITS |
The Bank of Finland called a news conference at 1200 GMT to announce new measures for the development of the system of monetary control. A spokesman for the Bank declined to give further details. Banking sources said they expected the bank to announce it will actively take part in the interbank market and buy and sell ... | BANK OF FINLAND WILL ANNOUNCE NEW MEASURES |
The Agriculture Ministry said it revised its April-June sugar consumption estimate down to 623300 tonnes on a refined basis from 637800 estimated at the end of December. It said the estimate for domestically produced sugar supply for the same period was revised to 190400 tonnes from the earlier estimate of 195100 tonne... | JAPAN SLIGHTLY REDUCES SUGAR CONSUMPTION ESTIMATE |
The placement of the German federal governments 25.6 pct stake in utility Veba AG <VEBG.F> would probably take place early next week banking sources said. Share dealers said speculation had arisen in the early pre-bourse market that the Veba announcement could come as early as today. But one banking source though co... | GERMAN VEBA PLACEMENT SAID LIKELY EARLY NEXT WEEK |
The Bank of England said it had provided the money market with 728 mln stg assistance in response to an early round of bill offers from the discount houses. Earlier the Bank had estimated the shortage in the system today at 950 mln stg. The central bank purchased 625 mln stg of bills for resale to the market on April 7... | U.K. MONEY MARKET GIVEN 728 MLN STG EARLY HELP |
The French farmers union FNSEA hopes France will resist European Community (EC) pressures over farm prices and notably those of the European Commission at coming ministerial negotiations in Brussels FNSEA Secretary-General Luc Guyau said. He told a press conference the union was concerned about the future of the EC Com... | FRENCH FARMERS WORRIED OVER FUTURE OF CAP |
Australia and New Zealand Banking Group Ltd <ANZA.S> is planning a 100 mln Australian dlr Euro-commercial paper program arranger ANZ Securities Asia Ltd said. Under the program notes in denominations of 100000 dlrs will be issued with maturities ranging from seven to 365 days. The four dealers for the program are AN... | ANZ BANK PLANS 100 MLN AUS DLR EURO-CP PROGRAM |
Feb daily ave unwrought aluminium output 33,900 tonnes, up 400 tonnes, IPAI. | |
Moodys Investors Service said it assigned the following ratings to new eurobonds. AAA ratings were assigned to: Eastman Kodak Cos 135 mln U.S. Dlrs of 7-1/8 pct euronotes due 1987. Morgan Guaranty Trust Co of New Yorks 100 mln Canadian dlrs of 8-1/2 pct receipts for Government of Canada bonds due 1994. Oesterreichische... | MOODY'S ASSIGNS EUROBOND RATINGS |
Standard Bank Investment Corp Ltd (SPRJ.J) chairman Henri de Villiers said he could not predict profits for the bank this year because of South Africas continuing political unrest. De Villiers also warned in the annual report that failing prompt and decisive political action South Africa faces a future of violent deadl... | STANDARD BANK UNABLE TO MAKE EARNINGS FORECAST |
Non-Communist daily average unwrought aluminium production in February was 33900 tonnes up 400 tonnes from a downwardly revised 33500 tonnes in January and compared with 32900 tonnes in February 1986 provisional figures from the International Primary Aluminium Institute (IPAI) show. Total production in February (28 day... | NON-COMMUNIST FEBRUARY ALUMINIUM OUTPUT UP, IPAI |
NV Philips Gloeilampenfabrieken <PGLO.AS.> said it planned to pool world-wide sales and marketing of electronic test and measuring equipment with U.S. Firm <John Fluke Mfg Co Inc>. It said from this autumn Fluke will sell service and distribute Philips test and measuring products in North America and selected mar... | PHILIPS IN MARKETING PACT WITH U.S. FIRM |
The European Community authorised the export of 25000 tonnes of barley yesterday bringing the cumulative total at weekly tenders since the series started last June to 3.33 mln tonnes close to the 3.37 mln under licence in the same year ago period traders said. All bids for wheat were rejected. However the total to date... | EC APPROVES 25,000 TONNES OF BARLEY EXPORTS |
U.K. FEB RETAIL PRICES UP 0.4 PCT, BASE REVISED, YEAR-ON-YEAR RISE 3.9 PCT - OFFICIAL | |
UK AVERAGE GDP RISES PRELIMINARY 2.6 PCT IN 1986, UP 0.7 PCT IN 4TH QTR - OFFICIAL | |
A solution to Brazils debt problems is unthinkable without the involvement of the International Monetary Fund Juergen Sarrazin management board member of Dresdner Bank AG responsible for Latin America said. Sarrazin told the business daily Handelsblatt that Brazils interest payments moratorium had cost it the goodwill ... | NO BRAZIL SOLUTION WITHOUT IMF, GERMAN BANKER SAYS |
Britains gross domestic product (GDP) on the average basis of output expenditure and income rose by 2.6 pct in 1986 after a 3.4 pct increase a year earlier Central Statistical Office (CSO) preliminary figures show. In the fourth quarter GDP rose 0.7 pct over the previous quarter and was up 3.3 pct on the same 1985 quar... | U.K. AVERAGE GDP RISES 2.6 PCT IN 1986 |
The Retail Price Index (RPI) Britains measure of inflation rose 0.4 pct in February on a revised basis to give a year-on-year rise of 3.9 pct the Employment Department said. In January the index rose 0.4 pct for a 3.9 pct year-on-year rise on both the previous base and the new index. The February RPI was set at 100.4 b... | U.K. RETAIL PRICES RISE 0.4 PCT IN FEBRUARY |
Denmarks wholesale price index fell 0.5 pct in February giving a year-on-year fall of 4.9 pct the National Statistics Office said. The index base 1980 stood at 135 in February a fall of one point compared to January against 142 in February 1986. REUTER | DANISH WHOLESALE PRICES FALL 0.5 PCT IN FEBRUARY |
The Swiss Finance Ministry said it was calling two bond issues of a total 550 mln Swiss francs as part of its effort to retire outstanding high-interest debt. The calls to be made effective June 30 and September 30 affected respectively the 7-1/4 pct bond of 1975 for 250 mln francs and the 6-1/2 pct bond of the same ye... | SWISS FINANCE MINISTRY CALLS TWO SEASONED BONDS |
The Bank of Spain suspended its daily money market assistance and offered to drain funds with three- and seven-day repurchase agreements at 12-1/2 pct money market sources said. The sources said the measures were a further attempt to rein in money supply and were likely to force some institutions to scramble for funds ... | BANK OF SPAIN SUSPENDS ASSISTANCE, DRAINS FUNDS |
U.K building society net receipts in February were 472 mln stg slightly up on Januarys 456 mln but well below the 793 mln stg of February 1986 the Building Societies Association (BSA) said. BSA Secretary-General Mark Boleat noted that net receipts were below 500 mln stg for the third month out of the last four. This wa... | U.K. BUILDING SOCIETY RECEIPTSRISE IN FEBRUARY |
Brazils hard-line debt stance though meeting creditor resistance is boosting political initiatives in Latin America aimed at broadening the global strategy regional debt officials and economic analysts say. Now more than ever it is clear that Latin America cannot pay under present conditions without sacrificing growth ... | BRAZIL SEEN AS VANGUARD FOR CHANGING DEBT STRATEGY |
CANADA CONSUMER PRICE INDEX ROSE 0.4 PCT IN FEBRUARY, STATISTICS CANADA SAID | |
The Canadian consumer price index rose 0.4 pct in February to 135.8 base 1981 compared with a 0.2 pct rise in January and a 0.4 pct rise in February last year Statistics Canada said. The February year-one year rise was 4.0 pct compared with a 3.9 pct rise in January.R Reuter | CANADA FEBRUARY CONSUMER PRICES UP 0.4 PCT |
About 9000 miners employed by the state corporation Comibol declared a general strike as from midnight (0400 gmt) to press for higher salaries a statement by the federation for Bolivian mine workers said. It said the strike was called to defend the nationalised mining industry. The miners were willing to negotiate with... | BOLIVIAN MINERS CALL GENERAL STRIKE |
KLM Royal Dutch Airways <KLM.AS> said it agreed to take full control of a partially owned Dutch-based parcel delivery service and will offer a minority stake in it to British and Commonwealth Shipping Plc <BCOM.L> KLM seeking to strengthen its market position in the fast growing door-to-door delivery market said ... | KLM EXPANDS TALKS WITH BRITISH AND COMMONWEALTH |
Communist rebels killed 18 soldiers on Mindanao island in the southern Philippines the army said. Military officials said about 70 soldiers on foot patrol were attacked by guerrillas on the border area around Misamis Occidental and Davao del Sur provinces. The state-run Philippine News Agency said at least 18 rebels di... | REBEL AMBUSH KILLS 18 SOLDIERS IN PHILIPPINES |
Two World Bank review teams are in the Philippines to assess government requests for funding for an expanded housing plan and an accelerated land reform program bank officials said. They told Reuters the housing program loan request is for 100 mln to 150 mln dlrs. The government has said it will ask for another 500 mln... | WORLD BANK TEAMS STUDYING PHILIPPINE LOAN REQUESTS |
<Rainbow Corp Ltd> said <Brierley Investments Ltd> (BIL) is trying to disrupt Rainbows planned merger with <Progressive Enterprises Ltd>. Rainbow chairman Allan Hawkins said in a statement In our opinion BIL have deliberately tried to create anomalies in the market prices of Rainbow and Progressive shares sinc... | RAINBOW SAYS BRIERLEY UPSETTING PROGRESSIVE MERGER |
Funds managed by U.K. Unit trusts rose by 2.3 billion stg in February to stand at a record 37.2 billion the Unit Trust Association said. By comparison funds under management in January totalled 34.9 billion stg and in February 1986 22.9 billion. The association statement said gross sales for February rose 1.01 billion ... | U.K. UNIT TRUSTS REPORT STRONG RISE IN FEBRUARY |
Indias state-owned National Thermal Power Corp said it has signed an agreement to borrow 169.1 mln marks at a fixed annual 6.48 pct interest for 15 years and eight months an NTPC official said. The agreement signed last Saturday in Hong Kong with a syndicate of eight Indian and foreign banks including State Bank of Ind... | INDIAN STATE FIRM SIGNS 169.1 MLN MARK LOAN PACT |
The Bank of England said it gave the money market another 31 mln stg in assistance in the morning session. This brings the Banks total help today to 759 mln stg and compares with its estimate of a 1.05 billion stg money market shortage which it earlier revised up from 950 mln stg. The central bank bought 31 mln stg of ... | U.K. MONEY MARKET GIVEN FURTHER 31 MLN STG HELP |
Taiwans leading industrial organisation said it will send its first buying mission to the U.S. Later this year in an effort to reduce the countrys trade surplus with Washington. A spokesman for the Chinese National Federation of Industries told Reuters the mission was part of a broader plan to switch large purchases to... | TAIWAN PLANS MISSION TO CLOSE TRADE GAP WITH U.S. |
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