📄 reut2-003.sgm
字号:
<TOPICS><D>trade</D><D>gnp</D><D>bop</D><D>dlr</D></TOPICS>
<PLACES><D>uk</D><D>usa</D><D>west-germany</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
A
f0886reute
d f BC-OECD-TRADE,-GROWTH-SE 03-09 0110</UNKNOWN>
<TEXT>
<TITLE>OECD TRADE, GROWTH SEEN SLOWING IN 1987</TITLE>
<DATELINE> LONDON, March 9 - </DATELINE><BODY>The 24 nations of the Organisation for
Economic Cooperation and Development (OECD), hampered by
sluggish industrial output and trade, face slower economic
growth, and their joint balance of payments will swing into
deficit in 1987, the Economist Intelligence Unit (EIU ) said.
The EIU said in its World Trade Forecast it revised OECD
economic growth downwards to 2.5 pct this year, compared with a
2.8 pct growth forecast in December.
It said the new areas of weakness are West Germany and the
smaller European countries it influences, and Japan, hardest
hit by currency appreciation this year.
The independent research organisation cut its 1987 growth
rate forecasts for West Germany to 2.2 pct from 3.2 pct in
December and to 2.3 pct from three pct for Japan.
It said it expected the OECD to post a current account
deficit of some 13 billion dlrs in both 1987 and 1988, due in
large part to a 1.50 dlrs a barrel rise in 1987 oil prices.
It said the U.S. Current account deficit looked likely to
fall even more slowly than forecast, to 125 billion dlrs in
1987 and 115 billion in 1988 from 130 billion in 1986.
It said it expected West Germany to post a 31 billion dlr
payments surplus and Japan a 76 billion dlr surplus this year.
The EIU said it saw oil prices dropping to around 16.50
dlrs a barrel by end-1987 and 15.50 dlrs in 1988 from about 18
dlrs last year, as adherence to OPEC output policy becomes
increasingly ragged.
It said the dollar is poised to resume its decline in
foreign exchange markets, and will lose a further 13 pct on its
trade-weighted index this year and five pct in 1988 after last
year's 18.4 pct drop. The average mark/dollar rate is put at
1.80 marks this year and 1.70 in 1988 while the yen/dollar rate
is expected to break through the 150 yen barrier with an
average value of 150 yen in 1987 and 146 yen in 1988, it said.
"This is not a crash scenario but the dollar's steeper
angle of descent increases the risk of ending with a fireball
rather than a three-point landing," the EIU said.
"Talking will not stop the dollar's slide for long and the
February meeting (of finance ministers of the Group of Five and
Canada) produced scant promise of either a decisive shift to
more expansive policies in West Germany and Japan, or a tighter
U.S. Fsical policy," it said.
It said the key to the dollar's fortunes was the
willingness of Japanese institutions to buy U.S. Government
assets despite prospects of sustaining a currency loss.
"Thus far they have been willing," the EIC said, adding
that if Japan was deterred from buying U.S. bonds the dollar
would collapse.
To contain such a currency crisis, dollar interest rates
would have to soar, bringing recession and a Third World debt
crisis, it said.
On trade, the EIU said prospects for 1987 look
"increasingly sick."
Import growth, forecast in December at 4.5 pct, is now seen
slowing down to around 3.8 pct in 1987 with a recovery only to
4.2 pct in 1988, it said.
The weakness of the West German economy is the biggest
single factor, with import growth there expected to feature a
sluggish 3.5 pct growth in 1987 against the 6.5 pct forecast in
December, the EIU said.
On the export side, it said it saw weak demand in West
Germany affecting export prospects elsewhere in Europe, while
Japan's exports in 1987 would remain flat and sales by U.S.
Exporters would respond only marginally to a lower, more
competitively-priced dollar.
It said in most of Europe and in Japan, raw materials and
oil will cost less in domestic currency in 1987 than in 1986.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="19438" NEWID="3020">
<DATE> 9-MAR-1987 08:44:23.42</DATE>
<TOPICS><D>interest</D><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>west-germany</D></PLACES>
<PEOPLE><D>poehl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM
f0895reute
u f BC-POEHL-SAYS-FURTHER-RA 03-09 0110</UNKNOWN>
<TEXT>
<TITLE>POEHL SAYS FURTHER RATE CUT POSSIBLE - SOURCES</TITLE>
<AUTHOR> By Allan Saunderson and Antonia Sharpe, Reuters</AUTHOR>
<DATELINE> FRANKFURT, March 9 - </DATELINE><BODY>Bundesbank president Karl Otto Poehl
told a closed investment symposium that West Germany could cut
leading interest rates again if the United States makes a
similar move, banking sources said.
The sources were reporting Poehl's remarks at a symposium
in Duesseldorf last week organised by Deutsche Bank Ag. Press
representatives were not invited.
The sources, speaking separately, said Poehl told about 200
bankers in reply to questions that a cut in U.S. Interest rates
would give room for a matching measure in Germany.
"It was a definite hint at lower German interest rates," said
one banker who attended the symposium.
A Bundesbank spokesman said the central bank would have no
comment on the reported remarks, made at the private meeting.
But, according to a second source, who also declined to be
identified, Poehl's comments were seen by bankers present as a
direct pointer to further moves by the central bank to defend
German industry from an additional revaluation of the mark.
"He said if the Americans drop their interest rates then the
Bundesbank would also drop them. He said that quite clearly,"
the second source said.
In reply to questions, Poehl also said the half-point cut
in the discount and Lombard rates on January 22 came after the
U.S. Had signalled it would be prepared to attend a meeting to
discuss the level of the dollar on condition Germany made such
a move in advance, the sources said.
Asked if American authorities could have been persuaded, by
cuts in German rates, to come to the bargaining table as early
as last September, one of the sources quoted Poehl as saying,
"No, they wouldn't have been. We checked that."
The Paris meeting of the Group of Six industrial nations
took place exactly one month after the German cut in rates.
Poehl emphasised in his comments the very close talks
between central banks before and after the G-6 meeting, saying
that financial markets had not fully realised the significance
of the Paris session and the U.S. Agreement to stem further
falls in the value of the dollar, the sources said.
For the first time all participants at the summit agreed
that a further fall in the dollar would be harmful for all
world economies, including the U.S., Poehl had said.
The sources said the tone of Poehl's comments boosted
growing sentiment that the dollar would be stabilised around
current levels by international central bank cooperation.
One source said Poehl's remarks also underlined the fact
that the Bundesbank was now more prepared to be accommodative
in monetary policy in order to prevent a further slowdown in
West Germany's economic growth.
Poehl and other Bundesbank officials have in the past
stressed that the German central bank had no direct
responsibility for growth and was solely concerned with
combatting inflation.
This led, for instance, to the introduction of a tighter
monetary stance from the beginning of December until the
half-point cut in rates in late January.
The sources quoted Poehl as saying that the current
overshooting of the German monetary target would not directly
respark inflation. The Bundesbank was not obliged to react
immediately whenever such overshooting occurs.
Latest data for central bank money stock, the Bundesbank's
main measure of money supply, showed the measure was growing at
7-1/2 pct in January, outside its three to six pct 1987 target.
Share prices rose in very active trading today, with
dealers reporting that Poehl's remarks, coupled with a bullish
outlook on stock prices from Deutsche at the same symposium,
brought in strong bargain hunting at current low levels.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="19439" NEWID="3021">
<DATE> 9-MAR-1987 08:44:51.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0897reute
u f BC-PLESSEY-TO-SELL-TELEP 03-09 0106</UNKNOWN>
<TEXT>
<TITLE>PLESSEY TO SELL TELEPHONE SYSTEM TO COLOMBIA</TITLE>
<DATELINE> LONDON, March 9 - </DATELINE><BODY>Plessey Co Plc <PLY.L> said it had won a
multi-million stg contract to supply Colombia with the System X
digital telephone exchange, the first major export contract for
the system.
Company sources said the deal was worth about 15 mln stg.
v A Plessey statement said the contract, awarded by the
National Telecommunications Authority of Colombia, was won
against competition from Telefon L M Ericsson AB, NEC Corp,
Fujitsu Ltd and Italtel of Italy.
"The award is regarded as a triumph for System X and a
breakthrough in the South American market," it said.
Plessey said the contract was one of the largest awarded by
Telecom Colombia for the past 10 years and involved supplying
13 telephone exchanges including 68,000 lines.
The award also includes transmission equipment for the
interconnection of the exchanges and the existing system.
The firm was actively marketing System X worldwide and
contract negotiations in certain countries had reached an
advanced stage, it said.
Plessey shares were down 5p at 235p, having gone
ex-dividend.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="19440" NEWID="3022">
<DATE> 9-MAR-1987 08:46:08.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
A
f0901reute
r f BC-VENEZUELA-REVEALS-DEB 03-09 0113</UNKNOWN>
<TEXT>
<TITLE>VENEZUELA REVEALS DEBT PAYMENT SCHEDULE DETAILS</TITLE>
<DATELINE> CARACAS, March 8 - </DATELINE><BODY>The 20.3 billion dlr debt rescheduling
accord Venezuela signed a week ago will reduce its payments
over the next three years by 64 pct, according to Finance
Ministry figures released this weekend.
A ministry statistical analysis said while the original
accord called for payments of 3.82 billion dlrs between 1987
and 1989, the new agreement requires debt servicing of 1.35
billion over the same period. In 1987, Venezuela will be
required to pay 250 mln dlrs instead of the 1.55 billion
originally agreed. Payments in 1988 were cut to 400 mln from
1.20 billion, and in 1989 to 700 mln from 1.11 billion.
The ministry's analysis said the reduction in debt
servicing during 1987-1989 amounts to an effective grace
period, something the Venezuelan negotiators sought from
creditor banks but were not granted.
Most of the rescheduling falls during 1994-1998, when 53.3
pct, or some 11.25 billion dlrs, must be paid. Under the
February 27 accord, Venezuela will repay 20.3 billion dlrs of
public sector debt over 14 years at 7/8 of a percentage point
over London interbank offered rates (Libor).
This compares with the February 1986 accord which called
for a 12-year term and interest of 1-1/8 point over Libor.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="19441" NEWID="3023">
<DATE> 9-MAR-1987 08:48:26.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0909reute
r f BC-SOSNOFF-STARTS-BID-FO 03-09 0113</UNKNOWN>
<TEXT>
<TITLE>SOSNOFF STARTS BID FOR CAESARS WORLD <CAW></TITLE>
<DATELINE> NEW YORK, March 9 - </DATELINE><BODY><MTS Acquisition Corp>, a company
formed by Martin T. Sosnoff, said it has started a tender offer
for all shares of Caesars World Inc at 28 dlrs each.
In a newspaper advertisement, MTS said the offer and
withdrawal rights expire April Three unless extended.
Sosnoff, a New York investor, already owns about four mln
of Caesars' 30.3 mln shares outstanding, or about 13.3 pct, and
is Caesars' largest shareholder. Caesars owns casino hotels in
Nevada and honeymoon resorts in Pennsylvania's Pocono
Mountains. It also controls Caesars New Jersey Inc <CJN>,
which owns an Atlantic City, N.J., casino hotel.
For the second quarter ended January 31, Caesars World
earned 12.6 mln dlrs on revenues of 190.4 mln dlrs, up from
earnings of 7,500,000 dlrs and revenues of 163.8 mln dlrs a
year before. For all of fiscal 1986, the company earned 41.0
mln dlrs on revenues of 694.4 mln dlrs.
MTS said the offer is conditioned on receipt of at least
enough shares to give Sosnoff a majority interest on a fully
diluted basis, the arrangement of sufficient financing to buy
all Caesars shares not already owned and pay related costs and
approval by the New Jersey Casino control Commission and the
NEvada Gaming Commission and State Gaming Control Board.
MTS said Marine Midland Banks Inc <MM> has committed to
lend it 100 mln dlrs for the acquisition and use its best
efforts to syndicate another 400 mln dlrs in senior financing
for the transaction.
It said its financial adviser, PaineWebber Group Inc <PWJ>,
has stated in writing that subject to market conditions, it is
highly confident that it can arrange commitments for up to 475
mln dlrs in "mezzanine" financing.
MTS said it does not expect problems in obtaining New
⌨️ 快捷键说明
复制代码
Ctrl + C
搜索代码
Ctrl + F
全屏模式
F11
切换主题
Ctrl + Shift + D
显示快捷键
?
增大字号
Ctrl + =
减小字号
Ctrl + -