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Notes Dates or Sequential Designation: Began 3 Vol. 127, Issue No.

HUGO BOSS BOSS 1018 003 MTT BLACK 52-20-145

170 (June 19, 2019) General Note: "An edition of The Sun Herald." General Note:
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Hie pact was signed by bead of state General Tito Okelio, Yoweri Muse- veni, leader https://sekretlady.ru/black/most-aleksandra4lista194136.html the National Resis- tance Movement NRM and Keny- an Preside n t Daniel arap Mm, who mediated during the ¥k mnnrtw of talks.
Museveni has been awarded the post of vice chairman of the Mili- CounciL His NRM, which con- ; much of the south of the coun- try, has been given seven seats on the 20-member Council.
The agreement envisages a speedy return to democracy, a new constitution immediate release of political prisoners and the recruit- ment and training of a new national army.
Page 14; Suspicions cloud peace.
Page 3 Spanish pit strike Thousands of Spanish coalmine rs started a two-day strike in protest against mine arrirfpnts and work- ing conditions.
In the Basque coun- try political parties and several trade imfon organisations called for strikes today to 3 for further explanations on the death of detainee Mihoi 7j»hni« page 2 Dutch blockade ends Dutch lorry drivers called off a blockade paralysing roads and bor- der crossings after employers won a court order banning tiie action.
Shultz disappointed US Secretary of State George Shultz said he was disappointed that Yugoslavia had let Mohammed Abbas, a suspect in last October's hijacking of the Achilla Laura ship, pass unhindered through its territo- ry to freedom.
US tax debate US House of Representatives re- versed its earlier stance and voted by 258 to 168 to approve a procedu- ral motion permitting a debate on the White House-backed tax reform Bill.
Page 4 Appeal denied Hie US Supreme Court denied an EEC fails to find tin crisis formula TIN: EEC countries failed to agree on a joint stance over the market crisis, d ash ing hopes of a quick set- tlement when the International Tin Council reconvenes today.
Page 28 WALL STREET: at 3pm the Dow Jones industrial average was 0.
Page 34 TOKYO: stocks hit new peaks.
The Nikkei average gained 1L9 to a record 13,128.
Page 34 LONDON: issues lost farther ground while gilts made a tinner showing.
The FT Ordinary share in- dex dropped 10.
On Rank of Fn gianrf figures the dol- lar's exchange rate index fell from 127.
It was also down at DM 38075 DM 38275SFr 3H2 SFr £0375FFr 21025 FFr 1UM5 and Y290.
Sri Lanka has arrested more than 100 Sinhalese left-wingers accused of having links with northern Tamil terrorists.
Plags 3 Kidnap fear US television network NBC fears that two Lebanese employees who live in Christian east Beirut have been kidnapped.
T hey le ft home tor work but did not arrive.
Ifage 15 BRITISH TELECOM share sale by the UK Government raised less money than it might have done, says an all-party parliamentary report Page 14 BRITISH AIRWAYS made pre-tax profits of £20 lm 5289m in the six months to September, against £189m.
It carried 98 per cent more passengers.
Page 7 BP is to invest Efim in o3 explora- tion in ffwuwlnwmn Amazonia, ac- cording to a contract with Cepe, the Ecuadorean state oil company.
Page 15 A BOARD of Banking Supervision and criminal penalties tor bankers who give false information to the Bank of were proposed yesterday by the British Govern- ment as part of its efforts to strengthen the UK banking system and stamp out fraud.
For without it there will not be the confidence on which sound banking depends - from the confidence of the individual depositor that his money ia safe, to confidence in Brit- ain as one of the foremost financial centres of the world.
MAIN POINTS: New Board of Banking Supervision to assist the Governor of the Bank of Eng- land; single set of criteria for bank antborisation 3 replace two-tier system; paid-up capital of at least £5m required for all banks; closer of banks; nusrepordng to Bank of E ngla n d to become w iminwl of- fence and banks w31 be required by law to report large exposures; bank auditors to be d r awn into supervision process but under guidelines rather thaw statute; definition of deposits to be amended to take account of new hanking hirimmunln to the Financial Services 3, which Is due to be published tomorrow and will legislate regulation of the investment industry.
The Governor may disregard the board's advice, but if he does, be must tell the Chancellor of the Ex- chequer.
The board will also report separately to the Treasury.
That surprise proposal was viewed in the City of London last night as a compromise between the Bank's wish to retain full responsi- bility for hanking supervision, and others in Whitehall who sought to establish a new bank supervision agency, a step tiie White Paper re- jects as too drastic.
The key proposals in the White Paper are intended to boost the au- thority of the Bank of England.
Its power to obtain information from banks will have statutory backing.
The offer, of three shares in Pet- rofina and E59 cash tor every 295 Ghartrahouse shares; is the first time that a leading international oil company has bid for a UK-quoted o3 company.
The London stock market was surprised yesterday that Charter- house directors, who had built up a well diversified North Sea company in 10 years, should agree to being taken over only hours after receiv- ing a bid approach by 3 />Mr David Robots, Charter- house's financial director, said yes- terday: There is a time to build companies and a time to sell compa- nies.
In this oO market it is quite clear that we could have continued only by shedding staff and assets.
Zhere would have been a slow dis- mantling of the edifice, with the original six staff back in the origi- nal office, but 10 years older.
Over the next year the UK independent ofi sector could be decimated.
It is our duty to recommend an offer like this to our shareholders.
The UK Department of Energy has tiie ability to revoke the li- cences that Petrofina intends to get from Charterhouse if it does not want to see UK-owned North Sea assets fell into foreign hands.
Last year, the department warned BHP of Australia off any attempt to bid for Lasmo, a UK off company.
The department said yesterday that It needed time to conside r the Petrofina bid, but it seems most un- likely that it would thwart a bid by a company from within the Euro- pean Community Oil analysts said that Charter- house had been seeking a merger with a larger oil company since its attempted £188m merger with Sax- on Oil in July was foiled by an en- cash counter-bid from Enterprise OiL On Monday, Charterhouse's shares closed at a new low of 66p.
When the bid was announced yes- terday morning the shares jumped to 200p, the value of the all-cash component of Petrofina's bid Lex, Page 14; News analysis.
The main confidence-building work will start in two weeks with a series of meetings of mi n isters and senior officials, culminating in Mr Gandhf s projected visit нажмите чтобы перейти Pakistan which will be the first by an Indian Prime Minister since the mid-1960s.
Finan c e ministers will next month develop a programme of eco- nomic co-operation that has already Continued on Page 14 Assam hy-efeetkm.
Page 3 IFC draws up Third World loan package BY NANCY DUNNE IN WASHINGTON THE International Finance Corpor- ation IFCthe World Bank affil- iate designed to boost private in- vestment, is preparing several new initiatives to boost capitalism in the Third World, one of which is a 550 to S60m fund to invest in the stock markets of developing countries.
The Emerging Markets Growth Fund, due to be launched in March, is one of the foremost projects in what IFC officials say is a new era for the bank affiliate which pro- motes private investment in the Third World.
Shares of the fund will be placed among a small group of large insti- tutional investors from Europe, Asia and the US.
Initially closed ended, the fund has as its principal objective long-term capital growth thro ugh investment, mostly in stocks, listed on the public stock ex- changes of a number of developing countries.
Generally, the fund would only invest in markets which, in the judgment of its manager, meet ac- ceptable minimum criteria covering market liquidity, investor informa- tion and official regulations, includ- ing fiscal and foreign exchange re- patriation rules.
Stock markets which could be considered for in- vestment indude those of Argenti- na, Brazil, South Korea, Thailand, Malaysia, Chile and Mexico.
The IFC expects that eventually the amount of the fund will be ex- panded substantially as tbe avail- ability of acceptable securities for investment increases.
New tranches may be issued through private placements or public issues.
The board of directors would have the option to make the fund open-ended after its first 3 to 5 years.
In order to meet certain stockholders requirements, it may be listed on the Luxembourg stock exchange.
A second initiative, for small and medium-sized African countries, is expected to begin operation next year.
The Africa Project Develop- ment Facility, a joint project of the IFC, the Africa Development Fund and the United Nations Develop- ment Здесь, will provide about S14m to help launch African entrepre- neurs.
The facility would provide techni- cal assistance and consultation in preparation of private projects in response to policy reforms to stim- ulate growth of tiie private sector in several sub-Saharan countries.
The UN agency has approved a S28m contribution for the project; The African Development Bank in- tends to seek approval from its board for Sim; six countries - Bel- gium, Denmark, France, Germany, Italy and the Netherlands - have pledged additional capital Another IFC project in the formu- lation stage, called the manage- ment service facility, will employ professional managers and advisers and lend them out to troubled com- mercial firms in Africa, both to ma- nage and advise local personnel.
Latin Americans outline debt plan BY JMMY BURNS IN MONTEVIDEO LATIN AMERICAN debtors have agreed on a wide ranging counter- proposal to tiie Baker plan for Third World debt The counterpro- posal does not sabotage the plan, formulated by US Treasury Secre- https://sekretlady.ru/black/cantabria-labs-ifc-heliocare-color-gel-cream-light-spf-50-tonalniy-solntsezashitniy-gel-krem-s.html, Mr Supermicro Материнская X11DPH-T плата Baker, in Seoul in October, but is bound to complicate its implementation.
This emerged yesterday as Fi- nance and Foreign mi n isters from 11 countries, the Cartagena Group, met for what were expected to be the final hours in a two day eco- nomic summit exclusively devoted to forging a common front on the Baker plan.
But officials confirmed that the ministers would not alter substan- tially the broad con sen sus already reached at technical level that the Baker plan, while a step in the right direction, provided insufficient foods to stimulate growth over the next three years in a region whose total foreign debt exceeds S350bn.
Instead, the ministers were ex- pected to press for additional mea- sures intended to arrest the nega- tive transfer of resources from Lat- in America to industrialised nations.
The annual in- crease in their exposure over the Continued on Page 14 Bankers set date of acceptance for Westland rescue package BY LIONEL BARBER AND PETER RIDDELL IN LONDON A RESCUE package for Westland, the troubled UK helicopter manu- facturer, is expected to be formally signed and underwritten by City of London institutions tomorrow, La- zard Brothers, merchant bankers advising tbe company, said yesterday.
Details, Page 2 tine, the UK Defence Secretary.
Aero- spatiale of France, Agusta of Italy and Messerschmitt-Bolkow Blohm of West Germany, intends to send a circular to shareholders outlining its own rescue package when H has examined the Sikorsky-Fiat plan.
But Mr Horae said the Europeans had been hampered by a lack of in- formation and by the refusal of Westland bankers to enter into ne- gotiations.
A meeting with the banks last week proved fruitless, he said.
Details of the Sikorsky-Flat plan been circulated to a small number of institutional shareholders in Westland.
They expressed disquiet over Mr Hesel tine's cam- paign to press for a European solu- tion over the heads of the Westland board, although they said they re- mained open to a firm offer on the table.
Westland shares are suspended at BOp, valuing the helicopter maker at around C35m.
The new shares Continued on Page 14 CONTENTS Парфюмерия Christian Dior Poison 50 EDT terror highlights Eurobonds 15,17 police ineptitude 2 Euro-optiraxs.
M ,18 Wan St 31-34 pAMnwirial Lav 23 Technology - - - ra banking; Japan bankers await new government 8 Management: US chemical company buy-out 9 licence terms.
Editorial comment: British Channel Islands: 12 Britain: time bomb for the trade unions 12 Paris: new concept in rail travel 13 Lex: Charterhouse; UK bank- ing; J.
Through delayed payments, and lost interest on funds.
Through time-wasting inefficiencies in paperwork.
Through missed opportunities because jwi weren't in dose touch with the market.
Then come and talk to Standard Chartered.
And the availability of direct K v.
Benefit from it soon.
West- land, according to Mr Raffaelio Tcti.
He sai dlhat the rival bid by European aerospace companies including Agusta still had a j Go-ahead expected for W.
German stock exchanges reform BY JONATHAN CARR IN FRANKFURT chance of success.
The original members of the consortium were Aerospatiale of France and MBB of West Germany, as welt as Agusta.
Mr Teti expressed consider- able resentment at the way the European consortium's efforts to rescue the company had been treated by Westland's board and.
But Westland did not respond in he way one would have expected.
We could not make our own valuation.
It was an unequal contest," he said.
They couldn't have read it in that time.
Sir John Cuckncy told us we could only go up to 39.
This body wiii carry out major tasks presently duplicated by the eight, handle legal and technical issues and generally represent the interests of the exchanges at home and abroad.
The move is aimed at helping prevent the fragmented West German stock market failing further behind the inter- national competition — above all of New York, Tokyo and London.
But although the changes planned look modest, they have been preceded by months of regional squabbling which at one time seemed to threaten prospects for any reform.
The smaller exchanges have long feared that продолжение здесь status, and even their existence, could be endangered by the growing predominance of Frankfurt and Duesseldorf.
Under the new plan all eight exchanges will be maintained.
But it is understood that voting procedures in the new associa- tion will give Frankfurt and Duesseldorf decisive weight.
French employers call for end of price controls BY DAVID HOUSEGO IN PARIS THE FRENCH employers' association said yesterday that the -lifting of price and foreign exchange controls should be among the first measures taken by a new government next March.
Though not explicitly backing the opposition, the employers made clear at their annual genera!
The gathering coincided with the publication of a newspaper poll showing that 67 per cent of chief execu- tives questioned favoured the parliamentary Right and that 73 per cent wanted President Francois Mitterrand to stand down if the opposition wins.
Italy to reduce capacity at Finsider steel plant BY OUR ROME CORRESPONDENT to go up to 40 per cent in our bid document.
I do not think that will happen with Sikorsky and Fiat.
Their 40 per cent will be overwhelming.
Westland would lose the capacity to design its own heli- copters.
Mr Teti was confident that Sikorsky- would res poet existing agreements between V stland and Agusta op two tqajor heli- copter projects which consti- tute the developing Angio- Italian axis in tijo industry.
Wc own flO pgr performance of the economy was " precarious, if not mediocre " Among other measures which the employers want carried out in the first four months of a new government's term were: abolition of the requirement that redundancies must have prior government approval: abolition of wealth tax; an initial 33 per cent cut in the tar professionnelle a type of payroll tax ; and budgetary support for the building industry.
This ; ITALY yesterday told the EEC They : Commission that it will close down 800.
An elaborate deal was being negotiated between the private sector company Falck and Fin- sider.
This would have enabled it to raise its produc- tion from L2m to 2m tonnes a year, allowing it to reach an economic operating level, but the deal fell through.
Norwegian budget crisis averted By Fay Gi'ester in Oslo AN ELEVENTH hour com- promise between the leaders of Norway's Conservative Party and the maverick, right- ist Progress Party has averted the danger of a government defeat when the Storting Parliament votes on the re- vised budget for 1986 later this week.
The Conservatives are the dominant partners in a three party, right-of-centre coali- tion which, lacking a parlia- mentary majority normally depends on the two Progress Party MPs to get its measures through the Storting.
Conservative Prime Minister, had warned that if these two voted with the Labour and Socialist left Opposition on the issue of budget changes his Govern- ment would resign.
The final vole on the revised budget, originally due to be held yesterday, has been delayed until tomorrow to allow extra time for bargain- ing between the Conservatives and Mr Karl I.
Hagen, leader of the Progress Party.
Monday night a deal was struck in time for the evening news on Norwegian TV.
Mr Hagen had been seeking two concessions from the Gov- ernment, one political and one budgetary.
He wanted recognition In a statement hy the Prime Minister of his party's key role in keeping the minority Government in power.
This Mr Willoch could нажмите сюда grant, because the two Junior partners in his coali- tion — the Christian Democrats and Centre Party — refused to accept any formal link with the Progress Party.
In effect, the Progress Party has been compensated In cash for what It could not be given politically.
The change In Washing- themselves that titer should not tuifons.
The US had asked for pledges from the commercial banks by the middle of December.
Canadian and Japanese banks indicated their support but in US into risking funds -without proper commercial assessment One reason for the Swiss une reason inrvr — banks' readiness in that just ' bumrn to thcBaker plan, over S8bn their present exposure to the 15 Indebted countries, is relatively small.
As prime ministers from the 10 Comecon stales met yester- day in Https://sekretlady.ru/black/tora-s-kommentariyami-rabbi-avraama-ibn-ezri-vaikra-bemidbar-dvarim.html to co-ordinate their five-year plans.
Hungary's semi-official newspaper Magyar Hirlap bluntly outlined some o£ the Comecon's shortcomings.
This was especially true for high and new technologies.
As an example of poor perform- ance, it pointed ont that high technology accounts for only 10-15 per cent of exchanges, between Comecon members.
Individual countries tended to put their own interests before co-operation, the news-!
It also calle d fo 3 Streamlining financial struc- tures.
Five high technology areas to be discussed art electronics and computers, automation and robots, atomic energy, https://sekretlady.ru/black/1s-erp-upravlenie-predpriyatiem-2-litsenziya-dlya-dochernih-obshestv-i-filialov-elektronnaya-postavk.html materials such as polymers and biotechnology, say Comecon officials.
The Soviet Union also wants East European involvement in projects such as the develop- ment of the Yamborg gas field in west Siberia tram which East European states benefit.
Athens pledge on drachma Bulgarian growth The Bulgarian economy, suffer- ing from a serious drought, showed only minimal growth j Minister.
Such a move would not be consistent with the Socialist Government's 16 per cent inflation target for next year, according to Mr Costas Sira it is.
This contract will have tp be res- pected.
Italian and Dutch governments and their respective aerospace companies to develop a multi-role combat helicopter based on our own Agusta A 129 Mongoose anti- tank helicopter.
I don't think that Sikorsky has an interest in withdrawing from this agree- ment.
Itortugal leaves pfta when it be- comes a member of the Communi- ty.
The other Efta members are Austria, Finland, Iceland, Norway, Sweden and Switzerland- Has 6am- THE European Community Is not prepared to back down from its de- mand that Spanish and Portuguese industrial exports should be given duty-free access by the countries of the European Free Trade Association Eft a.
Agricultural production was down 9 per cent.
The devaluation rumours were being floated deliberately to promote foreign exchange speculation, he said in a broad- cast statement.
When the per cent last October as part of an economic stabilisation package designed to reduce public sector and current account deficits, sales of im- ported consumer durables soared and Greeks tried to con- vert local currency into foreign exchange at almost any cost The black market rate of the US dollar is said to be spine 25 per cent higher today than 'the official rate of about Dr 150.
But Turkey's relations with the US are not all a bed at roses, despite.
The Turks ret great fctorr by t heir European connections; they regard their membership of Tbe Council of Europe, with all its irritations, as a badge of their European identity a nd a steppingotone to ultimate EEC membership.
Turkey® per capita income remains здесь below that of the poorest EEC member state, and Turkish industries with Ure possible exception of textiles are still нажмите сюда small to withstand unfettered European competi- tion.
The atmosphere became Iraq leader ends talks in Moscow IRAQ'S President Saddam Hussein, one of the Soviet Unf oil's closest antes in the Middle East, completed talks in the Kremlin yesterday at the end of which President Andrei Gromyko called for a political settlement to the Zran-Iraq war, writes Patrick Cockbum in Mos c ow The Soviet Union is Iraq's main weapons supplier in the war and continuing military support is crucial if President Saddam Hussein to to repulse an Iranian offensive expected soon.
Of the almost worth of Soviet arms exported to the Third 3 in 1984, a substan- tial amount vest to Iraq.
Part may be on credit but the S819m worth of oB imported by tint Soviet Unvm from Iraq and 3358m worth fro.
Honecker for Chirm China has invited Mr Erich Honecker, the E«£t German leader, to vtyit.
Peking, accord- ing to East European diplomats.
It would be the first such visit Lhy a Warsaw Pact leader since продолжение здесь political rift between China and the Soviet Union in the early 1900s.
The country has suffered recurrent food shortages.
A severe drought has lut agriculture and supplies were siiort throughout Ss-cffnVr:; Ass'.
Greens seek resignation over German spy probe WEST GERMANY'S radical Greens party, angered by revela- tions that its Members of Farfia- ment were investigated by the West German counter-intelli- gence service, yesterday de- manded the resignation of Mr Friedrich Ziinmermaiui, Interior Minister, Reuter reports from Bonn.
The Greens, who have called a special silting of the parite- mentary home affaire committee today to discuss the affair, also called for all secret files on Greens and other deputies to be made public, then destroyed.
At a news conference in Bonn, Gr ee ns members made much of the fact that ft was a member of the rig ht-win g Bavarian Social Union CSUX their political op- ponents, who bad sought the investigations.
The weeldy magazine Stern re- ported on Monday that the ser- vice also kept ffies ou deputies of the oppositio n Soda!
Government that ir it passed proposed police legislation, re- lations would deteriorate even further.
The Community's re- presentative in Ankara.
Mr { Gwyn Morgan, has since spelled out the conditions for un- freezing the Association agree- ment and resuming aid to Turkey.
The Government must termi- nate the long-running trials of trade unionists and peace campaigners, and permit com- plete freedom of political famil y several trade union organisations Mr Zabahsa's body was found in have called few general strike pro- the River Bidasoa in northern tests today in the Spanish Basque Navarre an Sunday.
This was dose .
Parties and nnionswhich have is- The autopsy found the cause of sued strike calls range from the death to be drowning, with no signs moderate Basque nationalists of toinditttetiiatMrZabalttwastor- the PNV, the ruling party in the re- tured, as has been alleged ly sever- gion, to the EEA sympathisers of I al sources including the dead man's Hera Batostma papular unity.
The Cabinet, in a statement, also accused Radio Televisao Portugue- se RTP of financial mismanage- ment Several invited reporte r s includ- ing a television crew узнать больше a briefing lest Thursday by three members pf Portugal's FP-25 guer- rilla grotto which has claimed re- sponsibility for several bombings and killings over the past five years.
Clips of the news conference were shown during the mid-evening television news.
But the savage outbreak of violence, including bomb attacks, armed hold-ups on post offices and, most terrifyingly, apparently motiveless super- market raids that have left 16 dead this autumn, may not yet be at an end.
Whatever the jubilant head- lines In the press, the unease over the efficiency of Belgium's security services to likely to ings against banks, large Полукомбинезон 686 Wms Black Magic Insl Overall 2019 panies and Nato Installations with impunity.
Each of their raids has been conducted with militaiy pre- cision and a staggering con- tempt for human life.
The result was a draw.
The rivalries that have pre- Flemish Brussels suburb 2nd then one in a French-speaking quarter before communications between units had gone Into action and an alert was put out.
Yesterday Mr Jean Gol, the Justice Minister, heartily con- gratulated the three police forces for their co-operation union membership.
The EEC, it is claimed, in using human rights as a cloak to avoid discussion of the awkward economic issues which should really be addressed.
When the Association agree- ment was originally dratted id Смеситель для (мойки) STEEL SH 552 BLACK BR двухцветный, discreet American pres- sure contributed to the idea of eventual full mcmbcnthlp.
Despite the difficulties It Is experiencing with the US and complaints of rejection by Europe.
Turkey remains firmly anchored to the West.
Its hopes of cveatuaHy joining the European Community depend on attracting sufficient foreign investment w finance growth to brlnir Turkey up lo higher level.
But considerable political evolu- tion will also be necessary.
The failure of the police to track down the fugitives has fuelled the imagination of tbe conspiracy theorists.
The Since October last year, the so-called Brabant Gang, https://sekretlady.ru/black/sweater-colett-csw01black-black-1.html Communist Cel to CCC since 2082 have gunned down conjecture, the most serious group had carried out 27 bomb- 22 people in a series of super- questions have centred on Bel- l iceman executed with a let through tbe back of his head.
Attempts to conneet the Brabant killers with the CCC have been largely rejected by the police, who have noted that the CCC has tried to avoid endangering human life.
But the commando-like raids of the Brabant gang and their lack of interest in money — the last attack, in which eight died, netted just £2,500 — have not discouraged speculation that political extremism could be a motive.
For those less Inclined to the Ministry of Justice; the local communal police, in 587 quasi-autonomous forces, re- porting to the Interior Minister and the national para- military gendarmerie who re- port to both these Ministries, and the Defence Department as well.
The divisions https://sekretlady.ru/black/gorniy-mtb-velosiped-sport-start-black-29-2017.html responsi- bility have provoked rivalry, recrimination and buck-passing with numerous comic occasions when one force has accidentally arrested members of another.
But there приведу ссылку been tragic con- sequences too.
An unedifying political furore followed the riot.
More Than half the politicians in Parliament double as mayors and jealously guard their right to run a police force and their patronage over its top jobs.
The result is hat only five forces in the country operate the same radio frequencies as their local, parallel divisions of the gendarmerie.
The Flemish- French language divide also provides a major loophole for criminals.
Nevertheless, tbe police suc- cess will undoubtedly delight The CCCs victims— Nato.
RywiWNe edUo « CAP.
But he still has a majority of more than two-thirds in the tpd' a n pari Lament and his mandate to govern is not affected.
It is nearly three years since more than 3,000 people were killed in the state's last elections.
Last night it appeared that the Assam Gana Parishad, the Assamese people's party formed by 3 who led the agita- tion over the refugees, would win more seats than Congress I.
Whichever parly forms a government will have to implement the peace agreement The agreements involve the deportation from Assam of alleged refugess who have come to India from Bangladesh, which in turn denies it has allowed any illegal refugees to cross its borders into Assam.
What has shocked the opposition is that the suspects have been detained not only under emergency regulations but under the Prevention, of Terrorism Act.
The Appeal Court has issued notice on the inspector general of police.
Mr Cyril Herat and the head of the CZD, in a habeas corpus application filed by the wife of the most prominent detainee, Mr Indika Gun a war- dene.
He is the brother of Mr Dinesh Gunawardene.
Their father, the late Philip Gunawardene.
In view of this family background, the detention has startled middle class opinion in Colombo.
What is most disturbing is that many of the suspects are said to be members of a break- away faction of the JVP which launched the 1971 bloody up- rising of Sinhalese youth.
By Anthony Robinson fan Johannesburg the SPATE of bombings and landmine explosions which has afflicted South Africa in the last few weeks continued yesterday when a limpet mine exploded at a bus garage near Durban in the early hours Of the morning, destroying nine buses and causing extensive damage.
It was the third sneh explosion in the Durban area over the last 10 days and follows similar incidents in Johannesburg and Durban over the last three months.
Meanwhile, local military commanders from both Zimbabwe and South Africa met yesterday to discuss pre- venting Zimbabwean territory being used either as a transit route or refuge for African National Congress guerrillas.
This follows South African allegations that the land- mines which have caused seven deaths and U injuries in an area dose to the frontier over the last three weeks were placed by guerrillas whose tracks were followed to the Limpopo River A spokesman for the Foreign Ministry confirmed yesterday that the South African trade representative in the Zimbabwean capital of Harare yesetrday emphasised to officials the seriousness with which the Sooth African Government views the latest incidents.
A potentially explosive situation also appears to be building up in the remote rural area of Moutse.
In order to achieve national unity, they must not Вентилятор Ostberg 630 D3 put aside their own feel- ings of mutual animosity, but also overcome deep-seated political and tribal differences in the country which have been exacerbated by military atrocities.
The long-awaited peace pari, signed yesterday, appears straightforward, but is fraught with obstacles.
Analysts have described it as a military solu- tion in political trappings and fear that its implementation may be Jeopardised by the overt suspicion that exists between Gen Tito Okello, - the head of state, and the National Resist- ance Movement NRM.
At the signing ceremony between the two parties, Hr Yoweri Museveni, the NRM leader, lambasted Gen Okello for the murders perpetrated by his unruly troops and blamed him for the bloodshed that has caused the death of over 1,000 Uganda n s since the July coup.
We are not ссылка на страницу to stop until the people who are responsible for this massive homicide are orougnt to book," he warned.
The black market pound currently trades at 30 per cent over the com- mercial bank rate.
Earlier this month the Government stepped down over the imposition of new income tax arrangements, which would have replaced the Islamic zokat tax used under the former regime of ex-President Jafaar Numetri.
Any move to revive the income tax proposals could meet with stiff union opposition.
In the short term the читать статью ment allows donors to release funds to pay the arrears to the fund, now exceeding 3190m.
The US have expressed willingness to provide 350m and Saudi Arabia.
Sudan's largest bflateral donor, is expected to follow suit However, the agreement looks set to be strongly criticised by unions.
In April this year it was union opposition to a similar IMF package that was instrumental in brin g in g down former President Numeiri.
In a related incident 25 members of the National Socialist Alliance, a party sup- portive of the former president have been arrested, according to a senior police source.
Several times he has threatened to march on Kampala, the capital.
If the peace talks disintegrated, and a senior Kenyan official yesterday confirmed that he had earlier received military assistance from Libya.
About one-third of Ugandan territory, primarily in the west and southwest, has been in NRM hands since October, and earlier this month Masindi.
Whether or not Uganda will achieve its much sought-after internal reconciliation hinges on the formation of the new military force that will replace the discredited Uganda National Liberation Army.
It is to be composed of 8,700 UNLA soldiers, 3,580 NRA troops and 400 men from each of the other three smaller rebel groups that once waged bush wars against the regime of Dr Milton Obote, deposed in the July coup by Gen Okello.
Before recruiting can begin however, the new Government faces the formidable task of collecting the guns of an esti- mated 50.
Most of these men will have to he returned to civilian life, at a time when Uganda's economy is almost bankrupt.
Donors have estimated the country needs about 8400m a year in aid to set it back on its feet Mr Museveni made it clear yesterday that he intends to abide by an NRM proviso that fio soldier who has committed a crime against the people be recruited into the new force.
The dilemma of identifying those who have done so is virtually insoluble.
Britain plans to instal a mili- tary advisory team of about 15 men, headed by Maj Gen Anthony Pollard in Kampala next month.
They will help with the disarming of soldiers and the recruiting of the new army under the aegis of a Govern- ment-appointed committee.
Mr Musevenj has made con- siderable headway in his pur- suit of legitimate political power, but his gains still fall short of controlling the mili- tary.
He has failed to win the defence portfolio, which has gone to Lt Gen Basilio Okello, commander of the armed forces who led the coup, and an ally of Gen Okello.
The agreement gives his NRM equal representation with the UNLA members of the Military Council in the Cabinet, but Gen Okello retains the casting vote.
Should his ageing leader die.
He is reported to be cultivat- ing a friendship with Mr Paul Ssemogerere, leader of the Government delegation at the talks and Interior Minister.
The agreement makes provi- sion for political parties to be represented in due course on the council, so that such an alliance could prove a powerful factor when eventually the council names a date for elec- tions to return Uganda to civilian rule.
Moroccan state spending set to increase by 37.
Btilter in Seoul THE South Korean Govern- ment yesterday expelled and 3 persona non grata the Tokyo correspondent of The Washington Times in protest over an article saying a summit meeting had taken place between South and North Korea.
The Govern- ment said the report was untrue and that it had warned the correspondent, Mr Timothy Elder, not to publish IL Relations between the Government and the foreign press have recently grown tense, with the former object- ing strongly to a series of reports describing high-level contracts in which discussions took place about a possible summit meeitiur.
MOROCCAN government spend- ing is set to increase by 37.
A 31 per cent increase in state revenues is predicted by Mr Abdellatif Jouahri, the Minister of Finance.
Investment spend- ing is expected to increase by 67 per cent to Dirhams 20.
No new taxes are planned but VAT is expected to be intro- duced next year.
A record cereal crop has led to a 14 per cent increase in farming output this year which in turn explains the 4.
Increased defence allocations, up 30 per cent to 5700m.
The King has announ- ced bis decision to spend 51 bn over the next five years to modernise his armed forces, most of which are deployed to maintain the Moroccan presence in the disputed Western Saharan territory- Servicing foreign and domestic debt will cost 119 per cent more next year than in 1985.
A Subsidiary of Atlantic Richfield Company For Information telex 677415 Attn: J.
But Mr Tip O'Neill.
House speaker, said he is still not sure whether the legislation, which the White House has said is the top domestic legislative priority of the President's second term, will pass.
But even as the White House was signalling some optimism on the Tax Bill, and in doing so attempting to shift the blame for failure on to the rival Demo- cratic Party.
Mr Reagan's legislative agenda was unravel- ling elsewhere.
Late on Monday night a com- bination of liberal Democrats and right-wing Republicans combined to vote down a con- tinuing resolution needed to authorise several key govern- ment departments to maintain operations.
Yesterday morning the House approved a new temporary spending bill which will expire on Thursday removing the threat that the Administration Кроссовки Torsion X adidas Originals Ash Silver / Ash Silver / Core Black have to send federal workers home because it could not pay them.
But officials on Capitol Hill were expressing concern that a stalemate over federal spending for defence now loomed.
The rejection in the House on Monday night of the S3?
The vote amounted to a rejection of a bi-partisan compromise which had been hammered out in a House Senate conference committee.
Some congressmen put the setback down to the unpredict- ability of late night sessions.
The BUI also lacked the pro- visions for reform of defence procurement which many liberals backed, and contained funds for the production of chemical weapons for the first time since 1959.
US suffers worst ever merchandise trade deficit BT OUR CORRESPONDENT IN NEW YORK THE US current account deficit surged to S30.
The decline in the value of the dollar on the foreign exchanges this year has not yet been reflected in any improve- ment in the merchandise trade deficit which rose S4.
But the fall in the dollar helped to produce a sharp increase in US income from services and to contain the deterioration in the current account deficit, the Commerce Department said.
Net service receipts rose S2.
Separately the Commerce De- partment reported a surpris- ingly large fall of 112 per cent in new housing starts.
Falling interest rates had been expected to give the housing market a boost Coffee price boost for Colombian exports By Sarita Kendall In Bogota INCREASED coffee prices are expected to give a sharp boost to Colombia's export gaining s this year and during 1986.
Official estimates now believe coffee earnings will rise from Sl-5bn fl.
These higher coffee export earnings forecasts came as Colombian officials were due in the VS yesterday to sign a Slbn loan agreement with commercial banks.
The loan agreement shows Colombia remains one of the few Latin American debtors capable of obtaining fresh funds from commercial hanks.
Total pri- vate and pnblic foreign d'.
Negotiations with the banks were slow, largely because of the Government's determina- tion to avoid formal standby arrangements with the Inter- national Monetary Fund IMF.
The search for a special formula began over a year ago, and k was finally agreed that the Colombian economy would be m onito red every quarter by the IMF.
The deal has gone through despite https://sekretlady.ru/black/detskiy-elektromobil-mercedes-benz-gls63-luxury-4x4-12v-24g-black-hl228-lux-b.html embarrassing leak from the Fond that led the Colombian Government to ask for the postponement of an IMF mission.
Foreign income is also being fuelled by the rise In coffee prices.
Nearly two-thirds of the credit will go towards the completion of the Cano Union oilfield development and El Cerrejon coal project.
Beaujolais Nouveau lies on the table of restaurants in Martinique and Guadeloupe in late November as it does in France.
Village town halls and churches have been built with a Gothic i nostalgia for the French pro- i vinces.
The telephone booths are the same as in Paris — and just as often out of order.
The islands have among the highest living standards of any territory in the region, but economic and political uncer- tainties are beginning to cloud the horizon.
The long decline in export earnings from the island's staple commodities of sugar and bananas have helped push up unemployment to about 30 per cent.
Local industry has also been slow to develop because of the high cost of labour compared with other Caribbean states.
In nearby Guadeloupe, poli- tical squalls have followed on the heels of economic difficul- ties.
Rioting flared in the city of Point-a-Pltre in the summer over the continuing Imprison- ment of an Independence leader allegedly on hunger strike.
This came in the wake of terrorist attacks earlier in the year by the clandestine independence movement Ссылка ance Revolutionnaire Caraibe ARC.
Though the agitation has now died down, the massive security precautions that were in force for M Mitterrand's visit reflect the continuing nervousness of the French authorities.
Both Martinique ссылка Guade- loupe were incorporated into France as overseas departments in 1946 — a status intended to remove the stigma of colonialism and give their population the same rights as citizens of metropolitan France.
French assistance is para- doxically both too open-handed and insufficiently so.
Mar- tinique and Guadeloupe obtain from the central government FFr 4,750 £428 per head of population in transfer payments and investments, compared wih an average of FFr 700 in metropolitan FGrace.
Eighty per cent of Guadeloupe's gross product comes through aid from France.
But this high level of sup- port and the heavy social security payments that com- panies in the Antilles as in France have to pay, have pushed up labour costs to levels that are a disincentive to indus- trial investment At the same time, the business comm unities on both islands have long pros- pered by importing from France — giving them little in- terest in taking the plunge into more risky industrial ventures.
At the same time the Reagan plan for the Caribbean ba«t opened np US markets to ex- ports from a number of Carib- bean conn tries, but not Includ- ing the French Antilles.
President Mitterrand was unable to offer any crumbs of economic comfort earlier this month.
His message was to emphasise the-need for regional co-operation within the Cuite.
A large majority prefers tb.
Guadeloupe has a tradition of more militant political and trade union, activity and there are sharper differences in wealth.
The ARC revolutionary movement has for the moment caBed a truce, but indepen- dence parties are said to represent anything up to 10 per cent of the vote.
France is being given -strong encouragement by the US to remain a major power in the region.
Inhabitants of Guadeloupe and.
Martinique Can instead freely enter add.
Canada scores notable success in defeating recession BY OUR FOREIGN STAFF CANADA registered notable successes in its recovery from the country's most severe post- war recession, the Organisation for Economic Co-operation and Development OECD said in its annual report on the Cana- dian economy published today.
Infla- tion has continued to decline.
Moreover, the foreign trade account posted a record surplus.
Exports had contributed 1.
At the same time imports нажмите чтобы увидеть больше manufactured goods had in- creased more rapidly than overall domestic demand.
Pat- terns of demand and an exchange rate against the Euro- CANADIAN ECONOMY Veil Hue ~ percentage changes 1984 1985 1981 Gross national product GNP +5.
Unemployment ratei UJ 10 }!
S eans dragged up by the US ollar had caused Canada last year to have its first postwar trade deficit with the EEC.
Pre- sent prospects for a substantial strengthening or demand for Canadian raw materials did hot look promising.
M Should this situation per- sist in the longer term, a far- ther shift from the rosraree- bastff sector to other brandies of the economy may.
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WORLD TRADE NEWS West Germans hope for N-sale to China soon BY JOHN DAVIES IN FRANKFURT WEST GERMANY is hoping to clinch the sale of nuclear reactors to China in a few months, although the deal is still uncertain and has long been clouded by complex negotiations and international competition.
A major countertrade opera- tion is being put together to help meet the cost of the project through the export of Chinese raw materials.
China may also sell uranium to West Germany.
With Bonn's backing, Kraft- werk Union KWU is seeking an order for two 1,000 Mw reactors for a power station at Sunan.
KWU, a subsidiary of the Siemens electrical group, has been fighting hard for the con- tract in view of the scarcity of nuclear power station orders.
Framatome, the French nuclear ractor company, also has its eye on the Sunan project.
The French are pleased at win- ning agreement in principle for the supply of reactors for the Daya Bay power station, which will generate electricity for Guangdong Province and Hong Kong.
Nuclear experts in West Ger- many believe that China is anxious to obtain the best terms through competition.
The West Germans feel that China wants to maintain wide room for manoeuvre by build- Phillipg Petroleum fitter- national.
It was the third contract in the second round of offshore bidding, which began In November, 1984.
The first contract was awarded to three Japanese companies, and the second was given to the Esse-Sfaell group, formed by Esso China of the US and Shell Explora- tion China of Britain.
But with China reining in development ambitions, there is speculation that it might postpone the Sunan project— possibly for a year or twd-» white continuing talks with the West Germans.
Berlitz now offers special 3 week full time crash courses of semi-private tuition in small groups of 3 or 4 people.
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Mttallsgesetl- Schaft, the FrankfUrt-based ntetdls and mining hbhse, has So faf declined td give ahy details.
Metallgese Use haft, which has been rapidly building up countertrade business, would j arrange buyers for these materials world-wide, includ- ing the Pacific area.
It has t offices in Peking, Shanghai.
Canton and Shenzhen and is expanding them.
I China also, wants to wpwt i uranium.
It is believed that some utilities are very dose to sighing a Contract.
There are seftoub doubts.
The Cabinet abolished long- standing regulations giving all the international routes to JAL and leaving a share of domestic ; routes to Ail Nippon Airways ANA and Toa Domestic Air- lines TDA.
ANA has applied for a Tokyo- Guam route, to start on March 3, next year, and is also expected io seek a TokVb-Los Angeles route.
Mr Yasnhlre NakasouC, the Prime ffishttfl feade this clear to Mr Howard Baker, the former US Senate majority leMfeh WBWi they met yesterday, as did Mr Makoto Kuroda, director- general of IntetnfttlMial trade policy at the Ministry of International Trade and Industry MITT in a separate Briefing.
LSI spring white Jijlifi UfiCd the cening on US cat shipments froih the 1.
SabsequentJy, Mr Nakasode said Mitl would have bbeii better advised to say nothing.
He insisted that the Gov- ernment was engaged in no discussions on car trade with the US.
Mitl would make no comments, be said.
Mr Kuroda predicted that there would not be a new import action programme next spring.
Japanese tariff levels would form part of the new-round discussions in the General Agreement.
European Commission identifies 23 barriers to trade with US BT PAUL CHEESERJGHT IN BRUSSELS THE EUROPEAN Commission Jr-wteftldy published a lirt 0f 23 ileitis Which, it sAid.
The list has been presented to Dr Clayton Yeutter, the US Trade Representative.
It 48 nbted yesterday that Here Wis the ground for the text series fif trade disputes.
However, the barrage of com- plaints crossing the Atlantic both ways reduces the force of the expressions of mutual collaboration in the prepara- tions for a new round of multi- lateral trade negotiations.
This dichotomy is sharply etched in agricultural trade, a subject for negotiation in the international talks.
The Commission initiative was disclosed yesterday by Mr Stanley Clinton Davis, Com- missioner for Transport He is already seeking to pilot through the council of ministers a wider measure which would permit greater fare and capacity flexibility Since the 1983 directive was passed.
France has answered with Its own fighting fund but other toutatries are bound to suffer if last month's opening shots lead to a credit war.
However, bids are not expected to be called for before late this ivlnjer.
The initial study for themetro was done by Sofretu.
It recommended that the system should run on rubber tyres because of the high gradient of part of the track.
The project will be split up into three major parts: civil engineering, including tunnel- ling for which French.
Japanese and Spanish companies are expected to bid; по этому адресу electrical and mechanical work which includes tracks, rolling stock, power supply; and signalling and workshop facilities.
Supervising the project will interest Elektrowatt of Switzer- land, Deutsche Eisenbahn Con- sulting!
British Rail Consulting BY LESLIE COUTT IN BERLIN PAN AM has applied to the US Federal Atriatton Administra- tion FAA to fly European Airbus A310-200 airliners be- tween Hamburg and New York.
It would be the first trans- atlantic route to be served by the two engine airliner which h as a range of 6,500 km.
TWA, Air Canada and El AI began Atlantic flights earlier this year using the two-engine Boeing 767.
The advantage over the conventional four-engine aircraft is a considerable saving in fueL Pan Am in West Berlin said the Airbus flight to New York will originate in Berlin with stopover in Hamburg.
The airline is aiming to begin North Atlantic flights with the Airbus in early February ca four days a week in both direc- tions.
It has also applied to use the Airbus on flights between Shannon and New York begin- ning in late March.
Pan Am said it is seeking per- mission to fly a route which would keep it wi thin 120 minutes of an alternative air- field, Tt needs an exemption from the FAA for this, which was given to the airline flying the Boeing 767.
Pan Am recently took -deli- very of three A310-200 airliriers from Boeing which had bought them from Kuwait Airlines before they went into service.
Renter re- ports from Paris.
The ATR-72, a streched ver- sion Of the ATR-42 short-haul commuter plane.
It also tires the body.
Which is why, when Porsche developed the 928 to be the definitive, Not only is it quicker from A to B, its smoother.
Opt for the 4-speed automatic and the 9 28 performs more effortlessly still.
Yet it lacks little of the manuals mid-range punch.
Instant response at modern-day grand touring car, the overriding concern was not status, but stamina.
How could Porsche conserve the drivers energy while best utilising the cars?
This is the First, create the ideal driving environment.
Thus the 928S Series 2 has car that whieii unleashed on the Nardo rest track covered 3749 miles in 24 hours a cabin interior which makes you feel at ease immediately.
To improve comfort and car control, front seats are electrically powered for height, reach and back adjustment.
Not only will the steering speed sensitive.
While to prevent those annoyingly frequent adjustments to hearing and ventilation, the 928s climate control maintains your pre-sec temperature automatically.
Minor details make a major difference too.
The air-conditioned Add to this, generous luggage capacity, a 400 mile touring range between fuel stopsand you have a luxury performance car without equaL It even makes your money go further.
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The occasion came after Mr Law- son's statement on banking supervi- sion.
The first jibe came from Mr Sedge more, who has recently pro- duced a series of allegations about the Johnson Matthey Bankers and Lloyd's affairs.
He accused Mr Rob- in Leigh-Pemberton, the Governor of the Bank of England, of "wanton negligence" and of being "not mere- ly a disaster but a disgrace.
That incident followed a renewed demon stration of how City affairs have become an important political issue when several Labour MPs and one Tory member raised allega- tions of fraud with Mrs Margaret Thatcher, the Prime Minister.
She emphasised her determina- tion to do everything possible to deal with fraud and said the Gov- ernment had just received the re- port of Lord Roskill on the handling of big fraud trials.
She said that contained 112 recommendations, which would be considered careful- ly.
The report would be published next month.
Later, Mr Roy Hattersey, La- bour's deputy leader, in a speech on the City, said its integrity was now in doubt with a growing number of malpractices.
By Max Wilkinson, Resources Editor SHELL UK is to spend QSOm on a new plant to make petrol at its Stanlow refinery near Ellesmere Port, Cheshire, the company an- nounced yesterday.
The plant, known as a long res- idue catalytic cracker, is to be built as part ol a modernising programme which includes the upgrading of equipment and sub- tantial slimming down of the workforce.
The new cracker at Stanlow re- places older less efficient plant, and will produce about 1.
Work b expected to start in January for planned completion by the end ol 1887.
Up to 800 construction workers will be employed.
This shows that by restructuring and accepting change, we can justify re-invest- ment.
BY JOHN GRIFFITHS FORD has agreed to grant licences, on certain conditions, to indepen- dent UK car replacement body pan- el makers for all except its latest models.
As a result, the EEC Com- mission yesterday announced that it had suspended proceedings aimed at compelling Ford to grant licences.
The independents currently are estimated to account for between £5® and Efim of annual £35m to £40m total trade in Ford replace- ment panels.
However, the proceedings have been followed with close interest by industry because of their general implications for copyright and reg- istered design protection.
The Commission's proceedings were begun in early November af- ter complaints by the independents.
The conditions of Ford's offer are that would be licensees should pay a royalty of 2 per cent of turnover until 15 years from the data of the first sale of the vehicle on which re- placement panels are based.
In addition, it will require an ad- ditional royalty of 1 per cent for six years, from the dote in which a li- cence is granted, in respect of those panels which have been the subject of its court actions.
Mr David Mars, chair man of the Motor Panels Manufacturers and Distributors' Association, last night said he was not prepared to com- ment on the details of Ford's under- taking but welcomed the fact that further litigation would not appar- ently proceed.
BRITAIN is prepared to boost sub- stantially its aid and trade support for British projects in China, Lord Young, the UK Employment Secre- tary, said yesterday.
Lord Young, whose week-long mission to China ends today, said in Hong Kong a new soft-loan facility would add to a' commitment of Cl 00m made earlier in the year.
It is understood that the new loan pledge фраза Гравер NEXTTOOL GV-170 SET 126 ПЛОХО" add as much as ElOOzn more to those funds already avail- able to support British exports to China Such aid, part of which would be supplied by British hanks, would make China one of Britain's chief recipients of aid-supported export finance administered by the Over- seas Development Administration ODA.
Through 1984, China had only re- ceived £361,000 in technical co-oper- ation funds from the Жмите сюда />India, at £14830, was the chief ODA recipient, and Bangladesh received £35m in ODA support.
The current £lOQm offer is for 20- year loans, to help to finance large projects Involving British compa- nies, with a five-year grace period at ah interest rate of 5 per cent Under terms of the ElOGm facili- ty, Britain and.
It remains to be seen how much of the loan facility is to be taken up.
The ODA p r ov ision, enables banks to make concessionary loans but re- quires British companies to make applications to the Department of Trade and Industry.
A House of Commons select com- mittee report on China trade привожу ссылку July noted with alarm that Britain's share of trade among- OECD na- tions with.
China was just 3 per cent through 1984 and was valued at 5432m.
Lord Young said bilateral trade for the first 10 months of the year was valued at £599m tor the first 10 months of year.
PEUGEOT TALBOT, French- owned motor company, has placed long-term appraisal cars with 350 of the UK's larger fleet operators as part of its strategy to regain a pres- ence in the fleet market, using a new model range, the 309, John Griffiths writes.
The company said yesterday that the Ryton- assembled 309, which is to be sold in seven different ver- sions.
It is the first of several new mod- els by which Peugeot Talbot hopes to increase its UK market share' by 1 per cent a year, leading to a dou- bling of its current 4 per cent to 8 iV-'V.
If it takes you through storms, ice, high altitude turbulence without having to alter its speed or course, it is because it has been built exceptio- nally strong 3 weather the toughest conditions and more; this is where it differs from its com- petitors.
You're flying the Falcon 100.
Fast - very fast - in fact the fastest of all busi- ness jets, the Falcon 100 makes for considerable time savings on Jong trips, but it also features unequalled safety and ease of handling at low speeds.
The slower a landing, the safer it is.
Only two business jets are as slow as the Falcon 100; one is just slow, in the cruise too, the other is a further Falcon model.
Ease of handling for the pilot, safe use of many short and difficult runways off-limits to other jets.
And moneywise the Falcon 100 guarantees you the best possible protection for your in- vestment, especially in terms of its resale value, universally recognized and appreciated by ope- rators.
J 1 Business takes offwith Falcon.
Pension reforms meet qualified support from life companies per cent by 1989.
The company said the 309, a five- door hatchback, will compete with a broad spectrum of rival models.
It is being produced in l.
A typical competitor to the smallest capacity model is seen as the basic Vauxhall Astra 1200, while the top model would compete with cars like the Ford Orion 1.
The 309 is the first UK- assembled car to be badged as a Peugeot ON THE FACE of it, this week's White Paper government policy statement on pensions reform of- fers imtiTni»nd opportunities for life companies.
Indeed, Legal and General Group predicted a substantial growth in private pensions coverage.
Hie As- sociation читать далее British Insurers ABI said the development of company pension schemes and personal pen- sions side by side would be facilitat- ed by the proposals to simplify the contracting-out conditions.
Life companies have a near mon- opoly in the individual pensions market They also provide services for most small company pension schemes on both a defined contribu- tion basis, with benefits linked to fi- nal salary and on a money purchase basis, where contributions paid источник статьи invested and the accumulated sum used to buy a pension.
Mr Norman Fowler, Social Ser- vices Secretary, has cleared the way for both personal pensions and small schemes.
He simplified the rules so that both types of pen- sion can now contract out of Serps.
So why are the life companies tempering their enthususiassi?
Na- tional Mutual Ufa, a company that has been recently aggresrively mar- keting small-company money-pur- chase plans welcomed the propos- als продолжить чтение to urgent clarification on the details of personal pensions.
First, there is the official ending of the life-company monopoly in in- dividual pensions - a monopoly con- ferred by the Department of Trade smU Industry and the Inland Revenue.
However, Mr Fowler and the De- partment of Health and Social Se- curity DHSS have no hesitation in naming banks, building societies and unit trusts to be allowed to of- fer both group and personal pensions.
First, it will distor t, the market.
Equal annuities mean that men The ABI has rfantwi that any get less pension than market forces prm rfflpHt nivy uM aicn dictate, while women get more.
One conform to such strict solvency can see certain life companies offer- provisions.
The second fear Is that the pro- on solvency req uirements far be the thin edge of the non-insurance providers o£ person- '"vdge lor completely unisex rates, al pensions.
The White Paper states that the The second big effect an life com- unise x ann uity rate will not apply panies concerns investor protec- benefits secured by additional turn The 3 Paper states that all vohudary contributions.
Figures of pome 18 per cent of Banks ami b uilding societies will co ntri b u tions were put forward in be subject to different regulation, an effort to discourage thfr The principle of equiv al e nce of personal pension concept.
Instead, treatment to ensure uniformity be- 3 Fowier has reacted by imposing tween the organisations has to bo controls over charges, considered.
Under the money Sbote do not disamSr in purch ase a rrangement, an.
The White Paper repeats its T he White Paper al so talks about Green Paper discussion document controlling permitted inv e stm ents proposal that there must be equal for personal pensi ons.
The DTI has p en s i o ns for men and women for laid down aer fe in investment con- equal contributions.
The DHSS controls sfanal bodies lobbied strongly are likely to include limits on equity against that proposal, which is very holdings.
Fleet Hcuse Lee Circle.
KOMATSU of Japan, the world's second largest construction machin- ery maker, has launched a 02 2m manufacturing project near New- castle upon Tyne in north-east Eng- land.
It wifl create 270 jobs by 1987.
Ini- - tiafiy, the Japanese company will produce hydraulic excavators and wheeled loaders at the plant.
Earlier this year, Komatsu was one of five Japanese producers 'found guilty by the European Com- mission of dumping excavators in the European Community market.
Dumping duties of 26.
In the UK alone, Komatsu sold 270 excavators last year.
The European Commis- - sion, which had to approve the £5.
Output from the Birtley plant would reach 2,400 units by 1988 and more than 80 per cent of these would be exported.
Initially, the UK content in the marhinog would be 80 per cent; rising to 80 per cent within five years.
It is now on course for a signi- in hie!
But BA hoped shares to the public in the summer oompsres with a pre-tax profit of that with lower oD prices on the of 1588.
The project is also part of a larger plan by Komatsu to increase the proportion of its production outside.
Earlier this year, it an- nounced a 516m factory project in the US.
Yamazaki is investing £29m in the 14J acre plant, which will use computerised flexible manufactur- ing systems to make four modelsof numerically controlled and.
Production at Worcester, which is scheduled to begin in early 1967, will reach up to 700 units of mu- chine tools by the- end of that year.
Annual turnover at he этом Этажерка Fixsen моему of about E40m should be achieved by 1988, Mr Yamazaki said.
This could occur if tiie yen rose to about Y27D to the pound.
The pound was priced on foreign exchange markets this week at about Y29L25.
By Richard Evans and Robin Pauley MILLIONS of pounds of govern- ment grant are to be switched from England's rural areas into London in 1988-87 in advance of the 1966 London borough elections.
The details of the 1986-87 Rate Support Grant Settlement will be announced today by Mr Kenneth Baker, Environment Secretary.
So while Mr Baker will present abolition as the cause of lower rates far next year bis settlement today contains teehninal changes which will direct at least £100m of extra grant into London.
The Government adopted the same approach in the current year to try to restrain rate rises in the first year cf rate capping, most of the rate-capped councils being in in- ner London, with Аккумуляторный шуруповерт BFS451RFE councils receiving an extra £200m in grants.
London will get ESOOm more In I grant next year than if the 1984-65 J technical structure had been main- 1 tained.
The losers this year and next are the shire district and shire county councils, whose share of the grant cake has been reduced.
Mr Baker wSl announce that the total amount available through the Mock grant system of distributing money to councils in 1986-87 will be ElLShn.
The move fal- lows legal action started in 1983 by Alexander Syndicate Management against Howden.
The agency, although owned by the US group, was formed by independent management.
But Alexander Syndicate Management disputed the terms on which the reinsurance policies were rewritten.
In the settlement which Alexan- der Syndicate Management intends to recommend to the underwriting members, the bulk of the disputed items has bees recovered for the members.
This provoked a furious row.
Mr Hardie said that the Inland Revenue bad agreed tbe latest set- tlement and was taxing the money returned from the rollover con- tracts.
On syndicate 126, the funds of the offer proceeds will be taxed as part of the rundown proceeds of the syndicate for 1985.
On syndicate 127, the offer proceeds will be taxed as underwriting Aton Basic CBX Black for each of the three years, 1980, 1981 and 1982 to which they relate.
If underwriting members accept the offer the Inland Revenue has agreed that it will not have any far- ther outstanding disputes with the underwriting members.
The council provides faculties support research in British univers- budgStfai an effort to strengthen re- Geneva.
The corporate plan, prepared at tbe request of the Advisory Board for the Research Councils which oversees tbe spending of Britain's ESOOm science budget, concludes that the council, the biggest of the five research councils, is severely constrained.
Science and Engineering Re - 1 search Council: corporate plan.
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Mr de Rothschild has established P.
Mr Vernes through his hold- ing company, Societe Centrale d'Investissements in which Mr Marcel Dassault the long estab- lished and wealthy French avia- tion entrepreneur, also has an important stake has acquired control of Banque Industrielle et Commerciale da Marais BICM.
Possible sales of state stakes M vernes argues.
Mr de to extend their new financial n 1 ritr 1 assnria t i on to FFr 12m in 1982 was turned into Rothschild was given bis banking empires.
One of the vernes.
As for the future, both Mr de Rothschild and Mr Vernes are self-assured.
At BICM, Hr Vernes expects FFr 15m to FFr 16m net profits this year compared with FFr 8m last year.
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Lisbon, London,- Madrid, Milan, Oslo, Parte.
Practic- ally unknown by its own name, it has group sales approaching £100m a year and more than 4.
It s line o£ busi- ness is extremely unusual: tak- ing over operations that multi- nationals are desperate to get rid of.
The company describes itself as an experienced manage- ment team specialised in turn- around situations.
Along- side the generators, trans- formers, switchgear, locomotives and motors which have made up the business up to now.
Hawker, who counts on another solution.
But in Spain there always being a market the only alternative would have for heavy electrical equipment, w, i u - .
Since ceive 20 contacts, becoming increasingly Spanish- taking 07er Spanish licensee Its origins were in the GMR oriented.
»f re gards Spain on the received a dividend.
After some political years ago, with companies in other Spanish activities in rumbles over the takeover of urgent need of adaptation but defence and nuclear know-how.
Autovox, a former Motorola faced with stiff trade union pjf the sake of appearances, offshoot, in Rome, Ricci sold resistance.
Westinghouse Electric retains out and the companies cop- Arbobyl does not boast a buy-back option and is ceding trolled by GMR were taken over either financial muscle or tech- shareholding in two stages: by the new Lugano-based corn- ideal expertise.
Its share capital 42 per cent at first and the pany.
The stands at £5m — increased re- remaining 51 per cent after shareholders of Arbobyl are cently from £2,000, by capitalis- the end of this year.
But it believed to be Italian friends of ing retained earnings.
The com- has already given up its voting Ricci.
Officially, the shares Hawker, a 30-year-old Cana- according to Nigel Hawker, one changed hands at a nominal dlan-trained British accountant, price.
But financial assistance from the previous owner is reckoned to have been more than enough to cover Arbobyl's was working for a US group in Italy when GMR took its opera- tion over.
His home and family are in initial commitment to invest Nice, from where he commutes of its two directors and manag- ing-director of Wesa.
This year it ran into a similar wall of scepticism in Belgium, where it was nego- profit received tiatlng to take over another company level.
After disposing of some of its interests, Arbobyl now con- trols four companies.
In Italy It has Sisme, an electric motor producer taken over from Ranco Mobil Group.
The former makes profits and the latter, which Hawker says was losing 25 per cent on sales without taking interest expenses into considers tion, is expected to come out of the red this year.
In Spain, it added RE-Con, a motor compo- nents unit formerly belonging to the Singer company, just over a year ago.
Because of the Spanish acquisitions, its industrial operations are making an overall loss.
Wesa is by far the biggest challenge it has taken on.
An early retirement plan has re- duced the labour force by 330 to its current level of 2,500, but Hawker reckons that on current business levels it still has at least 800 Чехол ASUS ZS570KL View Flip Cover Black (90AC01E0-BCV004) Брюки 686 GLCR 20k/15k Thermagraph 2019 (брюки Geode Thermagraph BLACK M />He is count- ing on state aid for the elec- trical capital goods sector to help pay for voluntary redun- dancies.
When he arrived, he says, there were three uniformed chauf- feurs to salute him.
Of the top six managers, three have either been fired or resigned; they did not.
But the need to find products adaptable to Wesa's industrial installations and to its human capacities limits the opportuni- ties for diversifying.
Along with its competitors, it is negotiating a plan with the government to reorganise electrical capital goods and define each company's role in the industry.
Arbobyl посмотреть еще undeterred by its con- tinuing heavy losses at Wesa.
Hawker says, is on the way.
A FEW YEARS from now, John Burns could be quite a wealthy man.
They want committed people.
Courteous, articulate, impec- cably turned out, he and his top management team wotfld merge smoothly into any of the big US corporate bureacracies.
But today they are on their own, minority participants in https://sekretlady.ru/black/konvektor-loriot-lhc-2000.html group's equity following a management buy-out 17 months ago.
Tbe deal was put together by E.
Hutton, the Wall Street invest- ment bank.
In what appears 10 have been a fairly standard fashion.
Although Vista has not given precise details of the financing, probably around 60 per cent of the purchase price was put up by the banks in the form of variable rate debt with a first charge on assets, a further 30 per cent by institu- tions as fixed rate subordinated debt, and the residue as equity held by the institutions, E.
In many ways, the newly- organised company was a typical product of the buy-out pheno- menon.
Du Pom did not want to retain the division because it was anchored in mature markets —PVC plastics and detergent additives— without any prospect of above-average expansion.
The buy-out investors, on the other hand, saw stability and predict- ability in these same low growth characteristics.
In the event, the first year turned out to be anything' but predictable.
Thev had seen nothing to compare with the collapse before, and it "certainly got everyone's atten- tion and probably scared a few people to death.
The crisis also brought home the realities of ownership.
To buy their piece of the action, many of them bare had to go deeply Vista Chemical Confronting the unexpected Terry Dodsworth on a US buy-out Within a few weeks of John Bums right and his management team buying Vista from Conoco, PVC prices collapsed into debt with their bankers.
The profits potential of even- tually re-floating a S500m com- pany on such a limited owner- ship base hardly needs to be stressed, but the risks in the leverage proved to be equally daunting at a time when the prospects for one of the main product lines began to look sick.
During the PVC nnce slump, which suddenly vanished after some of the less competitive companies were shaken out of the market, the Vista manage- ment team reacted in ways they would.
The plush new headquarters, built in Conoco days to the spacious standards of a go-go Industry, is a palpable reminder of the sort of corporate environment which bred the Vista manage- ment team.
But senior managers say that the mood changed rapidly once the buy- out had gone through.
To some degree, this adapta- tion was involuntary, a subtle sbift In attitudes to work unoer me stimulus ui a more loaded system of risk and re- ward.
The management decided to cut out a variety of perks they had re- garded as normal or even essen- tial in the past.
Says Bums: " In big companies managers find ways of justifying these things in terms of entitle- ments.
But we decided they were really not related to making money.
All the paperwork in- volved in reporting to upper management and oilier func- tional managers was cut out.
The other Significant change has come in financial manage- ment.
Although ViMa inherited sophisticated financial reporting and control systems, it lias made a crucial alters lion aimed at conserving cash and reducing working capital.
The combination of this cash conservation programme with the cost-rutting efforts and a sound operating performance has seen Vista through to a satisfactory conclusion of its first 17 months of independence.
It had started out with about SSOOm of borrowings.
Additional cash has been generated by reducing capital expenditure, but the company is now beginning to push in- vestment up again as it looks towards the future.
John Lang- ford, head of the marketing de- partment.
Langford, a tall mid-wester- ner who oozes enthusiasm, con- cedes that both of Vista's pro- duct lines face competitive pres- sures, with the detergent pro- ducts challenged by new pro- cesses, and PVC increasingly exposed to the challenge of overseas manufacturers.
But he argues that the group is in much better shape to больше информации it- self than ever before.
We have a much more workmanlike atmosphere here today.
We are competing with people who are sitting there worrying about the next reorganisation or getting their memos in on lime.
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The similarity lies not in the vast quantities of crude that are shifted just where is all this sex that certain news- papers keep saying Mary White- house основываясь на этих данных worried about?
Vio- lence on television is frequent and sickening whereas sex seems to be disappointingly illusory but in the awful delay which occurs between a touch on the helm and the VLCC coming on to a new course.
Some time ago it was being said — in this column as early as anywhere — that if the BBC was читать fight off those intent upon subjecting it to market forces it would have to look to its laurels.
At that time com- mercial television seemed to be winning everything hands down: Queens' College, Cambridge: the best days of many Jives Channel 4 was attracting all the praise for new ideas; Rrides- m.
The Nine O Clock our time an dour pockets will the Crown were collecting prizes News has been re-launched and keep being called into question, everywhere: ITV arts pro- although Weir?
And though stretching back through Pul tee iLll Irl wl Having seen the English National Opera's Julius Caesar previously only on television.
I responding to questions, but was not prepared for the golden practically all the questions spaciousness of the production have been cut so that all the j n the theatre, revived on time is given to the true sub- Monday.
John Copley has used jocts of the series.
Where he the big stage well and simply; has cut long interviews Wald- j 0 hn Pascoe's sets arc bold and man has sometimes faded to- handsome, excellent showcases black rather tha nemploy the both for the stately action and cosmetically prettier but ethic- f 0r Michael Stennett's ingen i- ally doubtful cutaway.
Her chain of choly which envelops the arias in' 9 the second act university, produced maybe by amounted to an 3 the premonitory realisation that tour force — I regretted only these lyrical days of youth!
Akhnaten in the Philip Class opera and not so.
The oddity of a fluting Caesar voice is.
Achillas, by the staunch Willard White.
Sail Burgess repeats her fiery young Sextus with lively despatch and much feeling.
Though Jean Rigby's dark.
The tempo of her first lament.
In aU other respects.
Personally 1 School more comfortably than читать полностью can """ some better than others, hut doubt whether the Latin prating Documentary scrint writing is d ° .
Suomi's nanaeis auaiences aouoness «.
The orchestral- contribu- E very body has been encour- intended to sound.
In this pro- tion, beautifully honed.
Is rich aged to ornament da capo duction it was originally taken in expressive detail — Mackerras repeats to the hilt, and guess- by Janet Baker; who could has a delicate sense of how to ing how far they will go is onesimply proceed on the premise emphasise a chromatic nuance of the pleasures of the perfor- ' of having the wrong vocal without brandishing it.
Comrades discussed 3 reveal the workings of an of Qu.
It was suggested here viding a uniquely inlimaie With Queens', however, the rent and credible.
JJS'V® create a auc 5 ess- BBC2.
Edge of Darkness dis- the has been a delight administration techniques and hours of lotus eating.
As with so many have followed the pursuit of inz the pain of partings in a — street re-establish the repuu- and has just been repeated on programmes, virtually all the many enthusiasms— drama, row- panoply of distraction.
The stage tations are downplayed and the those high quality series which episode of Queens': A Cam- of universitv criticism.
This 10-part series of 40- bridge is an elitist place lan may have been under-repre- total effect.
Shepard's recognition Велокомпьютер Black now that we are seeing the the BBC must contrive some- select a representative propor- covered in surprisingly few win the Christmas contest too.
SICanse .
In just under a year how with series such as tion of nitwits and there have clips, all brief.
Waldmon has mittee's instructions to report intrude on a reue- wnicn fills ra between scenes his own.
Coronation Street to top the people some of the lime if responses to the rugger hearties delivered what his - title pro- on the BBC by summer 1986 the S a Q 0 spirit intent on exploring.
Panorama, politicians are to be persuaded who put furniture on roofs and mis.
The play- having been shortened, moved to maintain its existence.
But are rude to college servants college.
He has not used a been better timed if ITV had rang?
But judging lormea nere oy ivaren xoung of characters: adults Ann an nil-film format, is attracting goes on, always, to make series vided one of the best pro- be an invisible fly.
Mr It enables Silvestra Le Touzel McKeown was the co-author of to appear immaculately Marcel- Brazil.
A hint of episode.
Good' comic Gloria Swanson in her chin, she credentials, all.
The sum total of Dracula's finally limps, broken-backed, evil is to plunge into another through an interminable final mimed golden oldie with a bevy scene that throws in magic of undead Jean Harlow looka- Ievitation besides Sylvester's likes who irritably get their McCoy's zany clowning, spoof choreography by Liz Whiting Bushy Berkeley and Dracula wrong.
A nice idea, but one miming to Jack Buchanan's longs for pleasant and attractive .
Silvestra Le Touzel Brain Stoker's characters are Among the divergent comic transplanted to 1932.
The exuberance of his their father get drunk and run sensible perspectives by limit- plot had been disciplined in over.
But the a complex and demanding story- As director.
Shepard softens young generation are all wild line without lessening his char- the rough edges of his charac- in some way.
Will Patton Andrew riompntc acters' intense expression, ters.
This American duo's low one another without pause.
Shepard: Jake bangs the phone while deer-hunting or the as Jake and Amanda Plummer recital of sonaths on Monday it possesses no striking ideas against its metal casing in brain damaged Beth a cod- as Beth are the possessed who night at the W'igmore Hall con- nor pervasive mood, other than reaction to his brother dition inflicted by Jake's give rousing renditions of tamed one substantial rarity in the nondescript chromaticism Frankies comments on the beatings.
The performance is Shepard's breathtaking explore- the Shape of Frank Bridge s which sounds suspiciously cos- news that Jake thinks he has paced so that climatic confron- tion of the lie of the mind.
Apart from generally shows off the flexible School, and to the music of of light.
From the trunk six a few Bill-dnd-Bcn like twitter- bodies.
Music and lights are Alban Berg in particular.
Perhaps a mare sensitive per- shapes slowly and hesitantly ings the performers act with well used to emphasise the Certainly Bridge slater pieces formance would have made the emerge, resembling elasticated their silent bodies, stretching dreamy sequences, use a language of far greater structure coherent and given peanuts.
They peer around, them through stilts into the The show абсолютно Диск Тормозной ушел with a politi- pungency than the cosy pastoral t h e ideas a purpose.
The more one hears ship Neither the Bridge nor nowledge shyly the audience, wonder how a human can forces them to fight among such works as the Third and ihe Prokofiev was as scrappily They are a band of extra- operate that lizard-shaped themselves, a climax which goes Fourth hiring guartets.
In masks which emphasise their of the show.
Trickster is pre- a nil-orchestra Phantasm and the j n which not one phrase seemed olher words they are the Trick- removal from reality.
It is rather sclf-congraiu- Deco set impressively houses Dr Simon Shepherd's Harker a shaken.
Distant splendidly fatuous upper-crust intervals stretch some good behind wnicn Bridge couta mac throughout the evening, how- troupes more honoured abroad teeth surmounted by two puzzling and beguiling images dug?
This is hardly ghastly eyeballs to indulge in and routines to make the com- Crufts.
This he used to substantial evening.
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Theatre LONDON Noises Off Savoy : The funniest play for years in London, now with an improved third act Michael Blake- more's brilliant direction of back- stage shenanigans on tour with a Jg- turkeys} — the wild lai.
Suflolk 0284 53 163 third-rate farce is a key factor.
Dis- neyland, Star Wars and Cats are all influences.
Pastiche score nods to- wards rock, country and hot gospel No child is known to have asked for his money back 634 6164.
Ameri- can Clare Leach is a real find as Peggy Sawyer, and Margaret Courtenay has a field day 836 8108.
Me and My Girt Adelphi : Sleek, effi- cient and enjoyable revival of Brit- ain's biggest war-time musical hit with Sober!
Lindsay in the Lupino Lane role emerging as the best new musical star since Michael Craw- ford.
Barn urn Victoria Palace : Michael Crawford returns to London with his breathtaking performance as the circus impresario, adding one or two new tricks in a likeable me- ringue of a musical.
Guys and Dolls Prince of Wales : The 1282 National Theatre production has arrived in the West End.
Richard Eyre's production and John Gunter's alfec tionately lavish designs complement ibis most joyful and literate of musicals, a fitting tribute to the re- cently deceased co- librettist Abe Burrows 9308661.
Interpreters Queen's : Love among the diplomats, according to Ronald Harwood has a superb role for the matchless Maggie Smith renewing a cross-cultural affair with Edward Fox in the shadow of a summit be- tween The Soviet Union and Brit- ain.
Torch Song Trilogy Albery : Antony Sher plays Harvey Fierstein's four- hour triptych of the life and loves of a drag queen fighting for emotional and domestic stability.
Truthful playing has the effect of cruelly ex- posing Fierstein's tackily uneven writing.
NEW YORK Brighton Beach Memoirs 46th St : The first instalment of Nell Simon's mix of по этому сообщению and jokes focuses on a Depression-era Jewish house- hold where young Eugene falls awk- wardly in love with his cousin.
Cais Winter Garden : Still a sellout.
Trevor Nunn's production of T.
Judd Hirsch and Qeavon Little, who almost conquer the world when they think they are just bickering with each other.
Kmg Lear Goodman : The Stratford Festival of Ontario production puts Lear in a rustic setting that looks much like the North American fron- tier.
Ends Dec 22 4433810.
At Phillips yesterday a sporting scene by Thomas Hamilton Lyitelton depicting the water lump in the autumn steeplechase at the Ballarat races in Australia, which must have been a very lively occasion in Gold Rush days, sold for £24.
This was the second time that the painting had passed through the auction rooms this year.
In April Grants of Worcester sold it for £3.
A painting by John Glover of a town in Switzerland, probably Chur, was on target at £26,400.
What makes this picture unusual is that it was painted in 1833 when Glover was actually living in Tasmania.
A portrait of Mrs Anne Gisborne by Joseph Wright of Derby made £11.
An attractive oil painting by William Prinsep of the landing stage built in Calcutta to honour the achieve- ments of his brother James, the civil sen-ant and writer, sold for £13,200, slightly below fore- cast.
Across London, at Christie's.
Old Master pictures were having a few problems, with a total of £556,750 but 38 per cent unsold.
The top price of £34.
The top esti- mate had been £12.
The last time it appeared at auction, in 1931.
The painting Is interest- ing for the range of contem- porary toys it portrays.
The top estimate here was £10,000.
A portrait of a girl.
A Venetian scene, after Canaletto, made £14.
Financial Times Wednesday December 18 1985 25 years ago, Merrill Lynch began serving London.
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White Paper on banking supervision: the Bank of England, which will con- tinue as the supervisory autho- rity in London, will in future have ns own activities super- vised by a new Board of Bank- ing Supervision.
This supervision, together with the closer co-operation with bank auditors which has already emerged in the Leigh- Pemberton report on Johnson Mat they Bankers as a high priority, should certainly help to prevent the kind of errors in supervisory policy which allowed the JMB affair to happen.
JMB was an upper-tier bank, and supervision here was.
Effectiveness So far as ran be judged from the Https://sekretlady.ru/black/dress-ferraga-qk370black-black.html Paper, the Govern- ment's aim is simply to make the present system work better — a system based on maximum information for the Bank of England, and minimum infor- mation for anyone else.
There are strong arguments, however, for changing the basic aims of the system, both for the protec- tion of investors and.
In short, the Government should give more stress to another classical tag— caveat eraptor or in this case, caveat depositor.
The unsolved supervisory questions are mainly concerned with manpower and training.
The powers of the new Board — and especially the fact that the Bank must inform the Chancellor if it means to over- ride any advice from the Board — look adequate; but its effec- tiveness will depend very largely on how- it is manned and staffed.
Equally the Bank itself will be more fully armed with powers to require information, backed with criminal sanctions against those who try to mis- lead it; but the effectiveness of these powers will be no higher than that of the staff who deploy them.
The Bank's own supervisory staff will be raised from 100 to 125.
Equally, it would be comforting to know they could tap the advice of specially qualified bank audi- tors.
Creditworthiness However, the most important issue- is not addressed at all, except in a fatuous sentence of advice to depositors to remem- ber their own responsibilities.
Depositors cannot choose wisely without information.
The US depositor fwe are concerned here with the large-scale pro- fessional deposits can look up consolidated figures breaking down a bank's loan portfolio by country, details of loan loss provisions in the profit and loss account and reserves against questionable loans in the balance sheet, of non-perform- ing loans regarded as recover- able, a breakdown of income and expenses, and a clear figure of free reserves.
None of this information is required of British banks— except, ironic- ally, three of the four clearers.
Full disclosure would fulfil a number of functions.
It would act as a discipline on manage- ment.
Secrecy is thus a moral hazard to central banking itself.
All the elements are there: aggressive Japanese marketing, the inability of the European companies to res- pond.
Between 1979 and 1984 the Japanese share of the British market for hydraulic excava- tors rose from 3 per cent to 41 per cent of which Komatsu had 12 per cent.
Under this degree of pressure 19 European manu- facturers urged the European Commission for anti-dumping action against Japanese im- porters.
Their claim was even- tually upheld and Komatsu, for instance, found itself contend- ing with an extra 26.
Like the UK television plants built by the Japanese electronics manu- facturers in the 1970s.
It will be called cos- metic.
The rate is already down to Y290.
The trend towards the auto- mation of production gradually increases the incentive for manufacturers of any nationa- lity to produce in situ — as the cost and efficiency of labour become less important.
Whether artificially triggered or not, investments of the Komatsu type bring benefits far beyond the small number of net new jobs created.
They pro- vide live demonstrations that there are workable alternatives to the ingrained attitudes and relationships of British work- forces, managements and unions.
They ginger up com- ponent suppliers through their assiduous attention to quality.
They probably provide a more direct and visible incentive to European competitors to respond than imports do.
Investments Yet, despite the undoubted poker element, there are good reasons for being enthusiastic about Japanese investments of the Komatsu sort.
They will make steadily more conven- tional economic sense at time goes on.
The marked strengen- ing of the Japanese Yen is already eroding the artificiality of Japanese manufacturing investments in Europe.
Teru- yuki Yamazaki, whose machine Conversely, such investments involve Japan more directly in the political and economic reali- ties of foreign countries.
They probably improve the atmo- sphere for free trade in that they modify the percieved role of Japanese companies from marginal suppliers which price aggressively and direct their products at markets in oppor- tunistic fashion, to companies more steadily committed to competing fairly and in sus- tained fashion in the European market.
The clinching argument for welcoming Japanese direct investment, however motivated, is that Japan is now without question a world leader in a number of important industries, and that for Europe to dis- courage the physical presence of these Japanese industries is to deny itself their leadership.
In the pharmaceutical, motor, domestic appliance and compu- ter businesses, the UK achieved years of prosperity by embrac- ing American inward invest- ment.
By taking over a factory abandoned by Caterpillar of the US.
Komatsu has stmply craerged as a new star of an established tradition.
That they are then exploding mostly in the face of the TUC is by Eovernraent design, not acci- dent.
So the restrictions on picketing and secondary industrial action in the 1980 Employment Act — at the time seen as the Act's main threat to unions at the zenith of their power — turned out in practice not to be the sword on which the unions impaled themselves.
Instead, нажмите чтобы увидеть больше has been the derided provision of public funds for ballots, almost un- noticed when the 1980 Act was passed, which has led the unions to the precipice.
Today, the TUC General Council.
In full con- clave.
Mr Norman Willis, TUC general secretary, told them, jump over, and they did not jump.
For once, the left joined with the new.
It is a tremendously im- portant decision.
The slide towards адрес страницы precipice started after the 1980 Act was passed, quickened with the TUC's blanket opposition to the law at its Wembley confer- ence in 1982.
The TUC tried to justify it: the AUEW and EETPU asked: Why resist?
Getting no answer, they were ready to take their chances out- side the TUC if necessary.
Based on concrete experience, these suggest that industrial muscles when flexed produce results; that a union posture of at least potential insurrection can offer its mem- bers both political and financial gain and that union members will respond to a mix of loyalty, class solidarity, self interest and coercion by leaderships with secure authority to speak in their name.
It is a measure of the impor- tance of the votes this week in the TUC and the TGWU.
The huge task facing the British trade union move- ment is to recover its authority in a society where these assumptions are seen no longer to operate.
Part of that task is already in hand: leadership by van- guards supported by the votes of activists is now being re- placed by a plebiscitary de- mocracy of the kind until re- cently ritually abused by the left This should help to make the TUC General Council more aware of its reduced role.
If this is new realism again, then so be it; douched by the General Election result, the TUC grasped at it in 1983.
This time it is more likely to stick.
Yesterday the TUC's employment committee approved draft criteria for belatedly sanctioning unions to take public money.
So far the AUEW and EETPU have picked up £1.
Others axe lining up to pour through the breach see table.
Strike figures involvement and participation in union decisions, and the use of balloting https://sekretlady.ru/black/chastotniy-preobrazovatel-esq-a500-043-15k-15kvt-380-480v.html particularly on strikes.
Simply to remove these provisions, and not intro- Labour liason arrangements.
To win their strike ballots, unions will have to campaign.
Mr Jimmy Knapp, the- NUR general secretary, and a firm leftist, went out to his members like a US Presidential candi- date earlier this year, urging them to strike to prevent British Rail implementing its proposals to introduce driver Футболка BOOM BAP MLB0015 BLACK only operated trains.
Both sides will now have to Interest themselves in similar techniques.
Both sides, too, will have to be sure of their case- before going on the stump; flaws in' the argument will not stand such scrutiny.
The engineering workers demonstrate the classic instance of the party system and are proud -of it; but in doing so.
Union to retain their political -fund main- tains the.
But then, in this particular.
Precisely because of these results, this is the.
Whether it has also recognised its moves this week as a begin- ning, rather than an end.
Time bombs though, the legislation may bave con- tained.
The real war for the TUC — the increase in ' non -TUC unionism, the rise in anti- which others will follow, is the the need to respond duce some new measures in tins.
Maybe; but the presuppositions are daunting — that there are sufficient moderates willing to come forward and that if they do.
Some senior Labour Party figures, convinced that to go to an election on a platform of reducing union democracy would be disastrous, had so despaired of change in the p!
Sy Si'or'uSMuTbMta't 0 m p piS distance l«B from the c ms : umons.
Leaping clear — finally — from the crumbling cliff edge of the unions' formal, rejection of the Jaw ir a start back towards credibility, and from there, towards tbe potential far renewed influence and power.
But unless the TUC and the Metal men hunted The British subsidiary of the Canadian Alcan aluminium group has become a surprisingly popular source of boardroom talent recently.
Last month the fast-growing Williams engineering group snapped up John Ford, who used to be British Alcan's deputy managing director, to be its operations director.
Nsw George Russell, the out- spoken managing director, is leaving to become Men and Matters Marley earlier this year, approached him.
And with the age factor he is 50 there was no chance of going anywhere in Alcan.
Does this reflect tension and trouble at British Alcan.
And he boasts that the slimmed-down company now out-performs every other alu- minium company in the world, including its parent.
But the real challenge will be similar to that at British Alcan, putting some energy into a rather lacklustre manufactur- ing group.
Watch for Marley doing rather more advertising on television in future.
In his spare time Russell is a governor of the Independent Broadcast- ing Authority.
Crespo is happy with the wel- come that his government — which practises a sort of Andean Thatcherism — has got in this country.
We did it on this table— in ten minutes," be says proudly.
Crespo was educated at the University of Maryland and the George Washington University on the Potomac, and worked at the Organisation of American States and the International Monetary Fund.
{ To complete the image, and lest anyone think he is a mere Anderson goes The US oil industry loses one of its most colourful figures with Robert Orville Anderson's decision, at tbe age of 68, to step down as chairman of Atlantic Richfield Arco.
Son of a Chicago banker.
Anderson has always been re- garded as a brilliant, if some- times lucky, maverick.
And his range of outside interests — stretching from his huge cattle ranches in both North and South America to his 1976 res- cue of The Observer newspaper from bankruptcy — marked him out from other oil barons.
At the age of 24, he borrowed 550,000 to buy a stake in a small oil refinery in New Mexico.
Over the next 20 years or so, AHB-732 Normann Погружной блендер became a successful wild- catter and bought and sold refineries.
They were regarded as one of the best management teams in the business Bradshaw left in 1980 to join RCA where he oversaw a dramatic turn-around in tbe company's fortunes.
I am told, unless the cost exceeds £35 a head.
Oxford colleges, although not directly publicly funded, are being spurred along with the universities to cost- effective management.
Academic institutions do not like being evaluated in terms appropriate to industry.
The Jarrett report alleged that uni- versities were inefficient: but in reaching this judgment it took no account of the function of universities but merely studied their management structures.
It suggested that British universities should be made more like British indus- try.
My impression is that in other countries the reputation of British universities stands higher than that of British industry.
Be that as it may, the only fair way to assess the efficiency of British universities would be to compare them with institutions in other countries which have the same purposes.
This does not seem to have been done.
If Balliol is judged in managerial terms, I do not think it need be ashamed of its record.
In the detestable jargon of produc- tivity, we can claim, perhaps not with any great pride, that in 1985 we process 501 students in plant which in 1935 Catered for 274.
We have a pupil-tutor ratio of 10.
Moreover, the amount we have to teach our pupils increases year by year, as new discoveries are made, new theories propounded, new evidence brought to light One of our economics tutors says that he now has to teach his pupils for their preliminary examination the amount of material which he had to cover for his finals papers two decades ago.
The increased teaching burden has not inhibited scholarship and research: during toe past academic year we produced between us 19 books and many papers in learned journals.
Balliol's relation to other colleges is also relevant Oxford University is a federa- tion of colleges, as the US is a federation of states.
An American wit remarked that the similarity would be even greater if the South had won the Civil War.
He proposes three reforms: Oxford colleges should delegate power to elected councils, as in Cambridge; heads should be made more like chief executives; there should be a powerful Council of Colleges to' take decisions collectively.
I BALLIOL COLLEGE FINANCES Income Figures in £000s Expenditure Endowment Fees Boarding charges.
Day-to- day decisions are reached not by a governing body of 58 but by an executive committee of 12 plus six junior members when student affairs 3 discussed.
The system works well.
A Council of Colleges, too, would have my support The welfare of the university as a whole can be damaged by the selfishness of single colleges— as when in recent years individual colleges have failed to observe agreed policies about the change-over from single sex to mixed institutions.
I share his impatience which head of house would not?
But I do not share his confidence that beads of bouses would make better decisions if left to them- selves: it seems odd to regard discussion and debate as a hin- drance rather than a help to rational decision-making.
What I am sure of is that concentration of executive power in the hands of heads would destroy the feature that makes Oxford a supremely attractive environment for an academic, namely the fact that a don has no boss.
Neither heads in their colleges nor professors in their departments have the powers they would have else- where: in general an Oxford don is responsible to no one except to a democratic body on which he has an equal voice with all his colleagues.
It is this fact, more than the historic build- ings or the candlelight on the silver in toe common rooms, which makes first-class aca- demics come to Oxford and stay there for toe best years of their lives.
Oxford offers an un c ommonly in tensi ve education by some of the most highly qualified teachers in the country, and its output of first-class research bears comparison with any in the world.
Add together all the ways in which money comes to Oxford from the taxpayer— UCG grant, university fees and college fees— and you find that it is not particularly expensive by comparison with other British universities.
That this is so is due in large part to the existence of college endow- ments.
From time to time proposals are made that the endowments of Oxford colleges should be confiscated or diverted to other purposes.
A recent appeal to our old members and others brought in pledges of £2m.
It would be a perfidious act to take away from the college the gifts thus generously made in good faith.
If the Government were really serious in wishing to enable universities to live on private funds it woutd revise the tax rules to make gifts to вот ссылка tax-deductible, as in America.
But the Govern- ment has consistently refused to do this.
Only last month it turned down a proposal or https://sekretlady.ru/black/kofemashina-kapsulnogo-tipa-nespresso-vertuo-plus-c-gcb2-eu-black.html Select Committee of the House of Lords which would hare made gifts from industry for scientific research lax-deduct- ible.
The complaint most consist- ently made against Oxford col- leges is that they are slow to adapt.
In detail, this may be due to the unwieldy nature of some of our structures.
But frankly, we are not convinced of the desirability of some of the changes we are asked to adapt to.
We are proud and privileged to have inherited a system and tradition of educa- tion and learning which is pre- cious ond irreplaceable, and wc are anxious to preserve its essential elements intact.
Dr Kenny is Master ol Balliol College.
Panl Betts, in Paris, reports on a new concept in French rail travel The age of high-speed nouvelle cuisine IT COULD have been a VIP lounge at any large inter- national airport.
It was instead platform two at Strasbourg rail- way station.
He gave the official the keys to park it When he returned from his train journey a few days later, he found the keys with the hostess and his car in the car park without a scratch," said Mr Louis de Vivies, one of the marketing executives in charge of the new experiment in first-class rail travel launched this winter by the SNCF, the French state railways.
The train itself also consti- tutes a new concept in first-class rail travel.
The plush carriages combine open plan and privacy.
The comfortable armchairs Ln pastel colours can turn to face in every direction.
Travellers can huddle quietly in a corner or in groups for business, a game of cards, a snack and a drink.
The restaurant serves the latest in French nouvelle cuisine with the food prepared by one of the country's top new generation diets.
The restau- rant is also very expensive and a meal for one of foie gras, scallops, cheese, and chocolate mousse cake washed down with Badolt water and some Alsatian wine costs £40 service included.
In the train, there Is a mini- tel microcomputer for bored passengers to play with.
Music cassettes and earphones are also available.
One day there will be a telephone and television.
The lounge staff have all been trained under the super- vision of 3 Jean Gillet, toe director of the Hotel Maurice, another Paris palace.
The idea is to offer a complete service start- ing well before the actual journey and continuing at the end of the trip after the passenger leaves the train.
Between 1962 and 1975.
But since 1975, it has been declining узнать больше about 25 per cent Ten years ago, first-class accounted for 23 per cent of total rail travel in France.
This year It is down to 17 per cent.
Several reasons are behind this decline.
SNCF officials say that the economic recession is partly to blame.
So is tbe com.
Air Inter, the main internal French company, now has at least 30 major connections in France and on major mutes like Paris-Nice or Paris-Toulouse it uses the Airbus.
A third signifi- cant reason for the fall in first- class traffic is the improve- ments the SNCF made in its second-class In the last ten to 15 years.
Indeed, in the Corail carriages, which SNCF started to intro- duce between 1972-75, the second-class источник статьи considerably improved and the difference with first-class was slim.
With the introduction of the high-6peed train link train a grande vitesse— or TGV for short between Paris and Lyon, toe SNCF struck a first return blow to the airlines.
On the western part of the country, it started experimenting with spe- cial children carriages — a sort of playground on wheels — to hold on to and increase family travellers.
In the East now, it has launched its new experi- ment to reconquer first-class passengers.
So far, there is only one train from Strasbourg to Paris and from Paris to Stras- bourg via Nancy a day with the new service.
In spring, the SNCF will decide whether to ex- tend the service elsewhere, but already the state railways appear satisfied with its first results.
The SNCF had two alter- natives to win back disgruntled first class travellers.
It could either reduce the price dif- ferential between first and second at present for every FFr 100 in second you pay FFr 150 in first or upgrade the service in first.
The second also has the merit of seeking to attract what we call leaders, or top bracket people.
The question is then not so modi one of price but quality.
With better service and facili- ties you can in fact ask people to pay even more," said Mr de Vivies.
For the restaurant; the SNCF persuaded Mr Joel Robuchon.
All the dishes are prepared using a new technique under vacuum and then heated by steam oven on the train.
Cold dishes are prepared by the chefs on the train.
Unlike other meals on trains, SNCF has decided not to subsidise the food in the new first class.
SNCF already loses FFr 185m a year on its cater- ing operations alone out of an overall deficit this year esti- mated at FFr 4.
The new first class — called officially Le Nouvelle Premiere — is already beginning to break even after a few months in ser- vice.
Not everyone, however, is enchanted by the new first class.
One of the biggest objections is that a traveller used to the old first class is forced to pay 15 per cent more.
The restaurant, on occasions, does not live up to the equivalent of a three-star restaurant in town.
Under the circumstances, it is not surpris- ing: bnt at £40 a head it is equally understandable that customers complain.
Others would have preferred to see SNCF recreate toe golden days of French rail when you could eat lobster thermidor and then rest on the Blue Train like the celebrated madonna of the sleeping cars.
We did not want to recreate nostalgia.
We warned something very modern, pro- jected towards the future," said Mr de Vivies.
And, like the airlines, toe SNCF is already considering the introduction at some stage of an intermediate business-type class for those who do not want to travel second or pay the surcharge for toe new first.
Mouetaiy policy Letters to the Editor From Mr G.
That is not to minimise the urgent need to lessen the severe burden of taxes of all kinds borne by individuals and businesses by reason of excessive public spending.
This criticism how- 3 Tudor St, EC4.
Sir, — It w as ream Life sales licensing Sir, — It was reassuring to see More interestingly, whereas Ur Hermann December 5 anti-monetarists and even now appreciating toe reality of some some economic commentators of of the problems in the world of a monetarist persuasion favour patents.
Let us hope that our From Mr H.
Paisner Sir, — Mr A.
Duggin Dec- ember 6 correctly recognises that a public row is now rag- ing over toe idea for licensing each and every single person, who sells life insurance in this country.
Well over Хомут для гориз.крепления тип FCD 160мм М8 individuals distribute life in- surance, either part time or full regardless of whether or not that individual is employed by that office.
Mr Michael Howard, QC, MP.
If the consumer is harmed by failure of that office to comply with toe roles of business conduct Such a policing m ec h a n ism will protect c o nsu m ers in a far more effective — and a far less expensive — way than would MtBOCs somewhat cumbersome licensing scheme.
This Is exactly what the Government should do.
First Floor, IS4 Fleet Street, EC4.
It is business in this country.
Within Europe we of cash heldhy the private sec- Sr' S.
With allowances the present high level of nomi- From Mr C.
For example, Charles tax lost since every ntoetL For example, tenas tax lost, since every individual with an income is a chief adviser on monetary.
Even before the concept of imiversal licensing, involving wide-ranging examinations, was floated in August by the Marketing of Investments Board Organising Committee MIBOCProfessor Gower had publicly cautioned against any general scheme for licensing.
He recognised the mammoth nature of any such task, due to the very large number of indi- viduals involved and the fre- quency with which people enter and leave the business.
This is not surprising.
These bodies protect toe interests of consumers.
Consumers would be forced to nay for all of toe inevitable bureaucracy, if the scheme went ahead.
They would gain very little, if any, advantage.
How do yon license, indivi- dual by individual, all members proxumty to toe new City of London School.
No mention is made of its proximity to перейти на страницу of us who have offices and residential accommodation nearby.
I submit that helicopters are for more rather than far less of a noise nuisance than jugger- nauts and motorcycles.
The infernal disruption to office and home life is totally disproportionate to toe con- venience of the relatively few helicopter passengers to and from the City.
This heavy cost of an enormous and frequently fail to recognise his world of changing group of people?
How junior managers, pompous ad- :.
What real benefits will consumers.
Could these not be achieved in a more practical way?
The Government has an- nounced that rules of business conduct are to apply to the I ministrators, dogmatic accoun- i rants and disgruntled repre- sentatives of workers.
I suggest that Mr Griffith and his young friend move out sometime from rhe narrow confines of Jesus College j sales of investments, including Oxford and see a little of the life insurance- These rules real world.
Garrett, office legally responsible for the Marltrood Granac.
But the West German Bun- desbank has managed to turn this unpromising material into the lon- gest-running mystery play in Frankfurt This week, before an increasingly impatient audience of bankers at home and abroad, the Bundes- bank's policymaking central council will meet for another act of the dra- ma.
Many German bankers could hardly believe their ears - or good fortune.
Un- der the rules, the banks have to de- posit a specific minimum percent- age of their liabilities interest-free with the Bundesbank, which can raise or lower the required percent- ages the "reserve ratios"thus in- fluencing the liquidity of the bank- ing system.
Last month the Bun- desbank's president Mr Karl Otto Fohl, promised that the lengthy re- view of the matter would be com- plete "very shortly.
Already this year the Bundesbank has approved the use of innovative financial instru- ments such as floating-rate notes and zeroooupon bonds, which it previously opposed.
That step alone was hard for the most cautious policymakers in the central bank to swallow.
They sure- ly face severe indigestion if the minimum reserves are tampered with as wdL Not the least of the un- answered questions is whether a ph flngo in the instrument means that the Bundesbank law itself must be altered.
The central bank, however, has let the genie out of the bottle and stands no chance of locking it up again.
Public discussion of toe pros and cons of minimum-reserve poli- cy is mounting almost by the week, and the longer the central bank de- lays a decision, the more the debate will intensify - almost certainly awakening expectations that can- not be fulfilled.
It is pointed out that the minimum-reserves policy indi- rectly helps the Bundesbank to in- crease its profit, most of which it must - by law - turn over to the Government Most of the commercial banks do not go that for, conscious that by malting maximum demands they might strengthen the hands of those in the Bundesbank most against change, in ste ad, bankers argue that minimum-reserve ratios could be cut sharply, without giving up the instrument as such.
One sug- gestion is that toe sum tied up through minimum reserves could be cut from the current level of around DM 47bn Sl8.
The banks point out that the Bun- desbank has not once changed its minimum-reserve ratios since Octo- ber 1982 when they were set within a range from 12 per cent for sav- ings deposits of DM 10m and less, to 10.
In other words, the Bundesbank is relying for more on open-market its, CDs play a valued role through- out a lot of the financial world - but not in Germany.
They were ex- empted from the new instruments the Bundesbank approved this year, and for at leak one strong reason.
Temptingly, foe banks argue that if their minimum reserves burden was cut they would probably pass on lower interest rales on lending to their customers.
Defenders of the minimum-re- serve instrument emphasise its ini' portance as an automatic brake on monetary expansion; that is, it operates even before toe Bundes- bank has statistical evidence of the growth and can bring its other con- trol measures into play.
There is also wariness over an- other proposal of the banks, namely that non-resident deposits be ex- empted from reserve requirements if the funds are themselves used for landing outside Germany.
The fear is that while that idea seems sensi- ble in principle, it would be hard to control in practice.
Whatever the merits of those ar- по этому адресу, it will probably be certifi- cates of deposit CDs that turn out to be the mam fever of change.
As negotiable receipts for bank depos- That situation would not only ap- pear unfair but would undernrinp the efficacy - such' as it is - of mini- mum-reserves policy.
Or it could try to postpone a decision, which so far is what it has been doing.
There is a danger here, though.
That is not very likely at the moment - but it helps to illustrate that toe pressure is firmly on toe central bank to cut toe Gordian knot of minimum-reserves policy sooner rather than later.
UK pledge to aid Uganda recovery By Mary-Ami Fitzgerald In Nairobi and Stephanie Gray in London BRITAIN h as pledged to help in the rehabilitation of Uganda after the signing of an accord in Nairobi yes- terday by Mr Yoweri Museveni, leader of the rebel National Resis- tance Movement NRMand Gen Tito OkeHo, President of the coun- try's ruling Military Council.
Under the terms of the agree- ment, Mr Museveni has Clatronic Кухонный 3712 titan KM комбайн awarded toe influential post of vice- chairman of the Military Council, although he привожу ссылку to gain the key defence portfolio.
The NRM, which controls much of the south of the country, has been given seven seats on toe 20-member Military Council, but was forced to drop its demand for the expulsion of two representa- tives of troops loyal to former dicta- tor Idi Amin.
According to British military offi- cials in Nairobi, Britain plans to in- stall a military advisory team of about 15 men in Kampala early next month to act as a power broker in the reconstitution of toe army.
The pact contains a two-part for- mula for disarming some 50,000 ar- my and rebel troops and recruiting a new 8,500 strong military force.
British exports to Uganda in 1984, the last year for which figures are available, were worth 542.
Mr Defers was reported to be very critical of the outcome.
The final package, combining a new treaty on foreign policy co- operation with measures to speed up liberalisation of internal trade and to e xten d toe influence of the European Parliament, has a long way to go before it becomes Com- munity law.
Both Italy and Denmark still have reservations on the package - Italy because it is too modest and Denmark because it is too radical.
Neither will be lifted until their re- spective parliaments have had their say.
The UK has a specific reservation - the last remaining - on a new chapter that would extend the ca- pacity for social legislation and pro- tection of the working environment in the Treaty of Rome.
No trnnl treaty amendment is possible without the unanimous agreement of the member states.
The foreign ministers y esterday made two small gestures to reas- sure the European Parliament, which last week denounced the ef- forts of the Luxembourg summit as unsatisfactory and unacceptable.
They agreed that any amend- ments to EEC legislation proposed by toe Parliament under the new co-operation procedure would be presented to the full Council of Min- isters, whether they are endorsed by the European Commission or not.
It will still be up to the council to decide toe shape of the final regulations.
They also decided that a three- month deadline for derision-taking by the council could be extended to four months by agreement with the Parliament If a decision has still not been taken then, the proposal will simply lapse.
That plan falls a tong way short of toe suggestion, backed by Italy, Belgium and the European Com- mission, that when the council fails to r e ach agreement; toe proposal put forward jointly by the Parlia- ment the European Commis- sion would become the law.
The other key agreement reached by toe ministers was on the legal form for toe package, which will now be called a European Act, rath- HANNAH 10002956HHX01 BLACK than toe once-mooted Treaty of European Union.
The preamble links the two parts of EEC co-operation, political and economic, while making dear that they are legally separate.
It spells out toe ultimate aim of toe member states as being to move towards a European union, and commits them to the formal objec- tive of realising that goal in a new treaty article.
Although UK officials main tamed that the definition of European union implies a process of ever clos- er co-operation and no more, the text could yet upset the Danish Parliament, and in particular the Social Democrats who hold the bal- ance on any ultimate decision to ratify the reforms.
The two countries' defence secre- taries are to try to end fawmring ly bitter border battles on the Siachen Glacier in Kashmir.
Officials are al- so to look into the details of other border problems including allega- tions that Pakistan has been help- ing extremist Sikhs in the Punjab.
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The https://sekretlady.ru/black/gmp-surelam-ii-540-laminator-rulonniy.html critic i ses a number of aspects of the GL9bn S5£bn share flotation last year, including the in- itial offer price and the way in which shares were sold in markets outside the UK.
However, the board of the recapitalised company is expected to produce profits fore- casts.
Lazard yesterday that failure to agree to the Sikorsky-Fiat proposals could send the company into receiver- ship.
On Friday, Lazard will send Горный (MTB) Cannondale Scalpel 29 Carbon Black Inc. let- взято нами MEKK 1.67 AS Optima Lite ELIXIR этом to shareholders outlining the terms of the rescue which will re- quire approval 8t an extr aordinary general meeting, expected to be called early in the new year.
The proposals require 75 per cent mar jority approval since they include bank drift being converted into equity.
In the Commons yes terdayMrs Thatcher said twice in reply to questions that the company must deride which deal it should pursue.
She referred to the responsibilities of the company to Its shareholders, its moral responsibilities to its workforce and its obligations to bankas and to its auditors.
Western governments should do more to maintain export credit cover to countries that have re- scheduled their нажмите чтобы увидеть больше within toe Chib of Paris.
It argues that toe 130p selling price of British Telecom shares was "over cautious, and a modest further increase in the price would have brought in a h igher return without risk.
The committee's report follows the pu- blication earlier tiiis week of an ar- ticle by the диск XO Luxury Milan Matte Black Institute for fiscal Studies which estimated that the privatisation of BT resulted in a net loss to public funds of £3-3bn.
It attacks the size of the co mmi s si on paid to underwri- ters of toe issue, and urges that in future a "careftd assessment be made.
The total costs of the iffiue were £283m, amremtiwg to 6.
House of Commons Committee of I PubHc Accounts: Sole of Goventr- ment Shareholding in British Tele- communications.
The £33m which British Airways has provided to cover toe cost of toe Laker settlement is a small price to pay for the restoration of yw a ig ina across the North Atlantic.
The 1884- 85 accounts, which finally made their appearance yesterday, pro- vide for the first time an analysis of where BA makes money.
A loss of £17.
Yet BA is at last starting to run out of steam.
Quite apart from the new - tnrpanme of paying tax and divi- dends, BA will need перейти find ways of financing a 10-year capital spend- ing programme of £5bn.
But that sum ignores BA's op- erating teases, which will have a capital valne of £lbn and wiQ creep on to the balance she et at same point wiDy nilty.
H BA succeeds in securing a capita!
Although the White Paper canshfets the more radical alterna- tive of taking supervision entirety out at toe Bank's t n wiActhat final hunriHatian is not required; if it had been, the Bank might as well have shut up shop.
White the kfea of demanding access to an an- dttort management tetter has been dropped, andtoti have net got away with ou t s om e in teres t in g new responsibilities.
H aadfiora beBeve that toete banking efientx are certi- fiable, orlikefy to abscond with the deposits, timy may.
On an appraisal of Char- toho u te fa exploration acreage.
BothsdhSd Holdings' interim statement arrived yesterday with the customary feck of explanation and nwnmowtt on trading, leaving the market unimpressed by the compan y's reputed skiflat making money out of special situations.
In a half-year when there was hanEy a lack of bid activity, especially in the US, JRH achieved an S per cent tell in profits to CZTiim and приведу ссылку more im- - parted -a rise in net asset value Banking supervision The Bank of England could sever have emerged from the Johnson Matthey affair without making some obeisance towar d s the Trea- sury on the mattered prudential su- Charterbonse A management which manages to extract a 02 per cent pe rmfann over its share pace for an agreed merger looks as if it is poforming its stewardship rote pretty wefLBut the shares of Charterhouse Petro- leum -along with the rest of the oil sector- have been sack dismal per- formers recently that it would be wrong to assume thatPetrofina is paying a crazy price.
Rothschild not bought in 33m shares, the net asset value would psobabfy not have fa m u stort at afi.
The outlook lor the Channel Islands — a community of roughly 130.
Billions of pounds have flowed into the banking and fund management industries of Jersey and Guernsey in recent years.
Their low taxes — income tax is 20 per cent in both islands and there are no capital taxes — their political stability, the high standard of profes- sional services, and their capacity to avoid the sort of scandals that dogged offshore centres elsewhere are all responsible for this unprece- dented financial bonanza.
The rapid growth of the finance sectors on both islands and their widespread interna- tional popularity — is a rela- tively recent phenomenon.
Until the early 1960s the only banks on the islands were branches of the high street clearers and even at the end of the 1960s the 22 registered hanks held!
Growth has speeded up since the abolition of UK exchange controls in 1979 — a develop- ment which some at the time thought would divert business elsewhere — and the islands have continued their trans- formation from offshore centres largely dependent on British investors and UK expatriates to ones with a genuinely inter- national client base.
They stress, too, that the authorities have never set out specifically to encourage those escaping harsher fiscal regimes.
The characteristics which have made the islands attractive to investors are a source of local pride.
Neither island has political parties; they enjoy good communications with Britain and France.
The authorities on both islands have deliberately adopted a selective policy, on the grounds that the top names will neither wisb to damage tbeir own nor the Islands' reputation.
Guernsey is now entertaining applications only from the top 200 to 300 worldwide.
The big question for Channel Islanders is how far their small communities can continue to accommodate the rapid business development of recent years.
Both Jersey and Guernsey are conscious of the benefits of a successful finance sector Капа Kango KAC-140 L/XL terms of employment and tax revenue but both are equally determined not to be overrun by bankers and accountants from the mainland and other metropolitan financial centres.
Understandably they are anxious to preserve their tradi- tional way of life and to protect the relatively unspoilt beaches and countryside which sustain another important industry, tourism.
Pressures for tighter immi- gration controls — already relatively strict thanks to the housing laws — are intensifying and.

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