European Stars and Stripes (Newspaper) - February 25, 1991, Darmstadt, Hesse                                Monday february 25, 1991 the stars and stripes Page 17 although some sales agents Are reporting increased interest in House Hunting this year More than two thirds of the real estate executives surveyed in a new National. Poll believe it will take at least two years before the slumping real is Tite Market in the United states improves. The Survey conducted by the Arthur Andersen amp go. Accounting firm revealed widespread pessimism in the Industry. A last year was a very Tough year in real estate and that a Why most people Arentt looking for a Rosy 1991,�?� said Andy Kane a spokesman for the accounting  rates London up1 fridays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted Al $359.00 an ounce Silver at $3.60. A. A ,. A \ \ a feb. 21. Feb. 22 British Pound. .,�?z.1,9570 ,./ a .1,9420 a German Mark,1.4910 1.4960 French franc 5.0720. Dutch guilder.1.6785&Quot 1.6778 belgian franc. 30,68 a a. 30.71 a italian lira. ,.1,116.25. 1,115.75 a Swiss franc. .-1.2725 1 2640 greek drachma. .,159.03. 159.80 turkish lira. .3,217.10 3,219.90 a saudi arabian Riyal a a .,3.7503 a 3.7503 Spanish peseta 92,68. 92.73 portuguese escudo.-130.55 "130.57. Canadian Dollar,.1.1530. A ,1.1495 austrian Schilling .10.48 10.47 norwegian Krone .,.,.,5.8300 5.0145 danish krone.,., .�?z5.726. 5.720 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1,45 through monday based on fridays noontime Price fixing. Sara Lee buys stake in Chicago a Sara Lee the .-based food company is heading to Eastern Europe. The firm recently announced that it has acquired a 51-percent stake in Hungary a largest Coffee roaster the compact trading and packing co. The Price of the Purchase made in hard currency was not disclosed. Compact which also produces Tea spices Rice and household products had sales of $140 million last year. Sara Leeds Douwe egberts subsidiary is Europe a second largest Coffee roaster with $900 million in Coffee sales and 14 percent of the european Market last year. A a compact provide an excellent platform for exporting Coffee and grocery products throughout Eastern Europe a Sara Lee chairman John h. Bryan said in a statement. He said hungarian officials a have demonstrated a Strong commitment to involving International partners in their growing  War in the Gulf rat amp to slashes credit card rates for saudi Arabia-. Calls by Janet Howells Tierney Washington Bureau Washington phone Calls Between saudi Arabia and the United states will Cost 30 percent less until March 21 for callers using at amp to Susa direct service. To receive the 30 percent reduction Calls from saudi Arabia must be billed to an at amp to calling card Telephone officials said. Calls to Germany will not be affected by the reduced rates said at amp to spokeswoman Lynn Newman. The change Lowers the initial minute charge from $3.19 to $1.15 for Calls Between saudi Arabia and the United states including Hawaii. The $250 service charge has been eliminated. Collect Calls will also be reduced from $5.75 to $3.25 using the Usa direct sen ice. Officials said. A under the new rates a 10-minute at amp to calling card Call will Cost $11.50 and a 10-minute collect Call will be $14.75. At amp to expects to absorb about $3 million in costs to pay for the Price Raduc Tion Newman said. Us direct calling card Calls can he placed from any of the nearly 1,200 designated telephones installed near the frontline troops. Callers can also dial 1-800100 on any Telephone in saudi Arabia to reach an at amp to us direct operator. Telephone officials estimate several Hundred thousand at amp to customers placed Calls front saudi Arabia in Jan uary. The average Bill for those custom a Quot ers was $50.36. Less than 1 percent of Bills were $400 or. More. Calls averaged 16 minutes. A the company also extended the free desert fax program. Since the program a began in september nearly 1 million faxes were sent from families and friends in the United slates to service menters in saudi Arabia officials said. The service is available at 400 at amp to phone Cen Ter stores and 60 military bases around the country. At amp to estimates the Cost of the tax program at $1.5 million. The Telephone company has donated $1,5 million to the. Uso Ami $100,000 to the red Cross fund a for military families who need emergency assistance officials said. A a a a. ,. ,. A. A a a a a a _ a. A a. I _ a a a a.  a duty free shopping in Europe threatened by open Border plan by Mark Lawrence the associated press Brussels Belgium a removing. Borders within the 12-nation european Community after 1992 promises bigger earnings for Many industries lower prices for Consumers and More jobs. But for duty free shops it could he the death Knell. European Borders have Long been the reason for retail sales of tax free goods in airports and ferry terminals and on planes and boats. Industry officials say these businesses stand to lose almost $2 billion a year and half their sales Force of 7,200 when the Trade bloc drops its internal frontiers on Jan. 1, 1993, As part the bord Erless single Market dec. After 1992, the shops will be Able to sell goods Only to travellers headed outside the dec. 1 j 1 a ending duty free Sale to travellers within the dec a Market of 340 million people is a matter of logic to the european commission. In its drive for a single Market the commission wants All travel within the Community to be considered "domestic.�?�. The commission argues that its single Market plan which includes efforts to standardize lax rates will make goods at. Least As cheap As when they were sold duty free. It estimates a single Market will boost the eco a economic output by 5 percent Cut prices by 6 percent and create some 2 million jobs a 1 the duty free Industry is seeking a reprieve from the j 992 plan by arguing for pragmatism. A nobody is arguing that duty free makes a lot of sense in a unified Market a hard times duty free sales duty free sales within Europe May. Be drastically reduced two years from now when members of the european economic Community drop internal Trade barriers.$3 billion projected 1993 with 3,600 employees $1billion m a amps Sharon Kilday said Philippe Hamon director of the International civil airports association a but the fact is that it exists and a lot of people Benefit from  duty free shopping has been part of the fun of travel since the Chicago convention of 1944 Laid Down the ground rules of this accepted Fornof lax evasion. In Europe sales taxes can add up to 25 percent to the Price of an item. Duty free sales in the dec reached $7 billion last year almost a. Quarter of the global $13.5 a billion a duty free business. Among the 20 most lucrative duly tree outlets worldwide were six dec airports including Amsterdam and London s i Lea throw and three european ferry lines that connect England and Mainland Europe. Duty free Industry officials say Quot More than half of travellers at dec airports and ferries head for destinations within the to id bloc. They fear heavy losses if duty free is banned within the Community. One of the eco a largest duty free alcohol companies duty free distributors Quot Europe of Amsterdam expects to lose 40 percent of its business said sales director Peter Clemens. A others make similar predictions with makers of luxury items such As liquor or fume and tobacco Likely to be hit the Ardest. Tax free and travel Industry officials also warn that ending sales to travellers within the dec will Lead to higher fares because revenues partially subsidize transportation costs. The Netherlands economic Institute a Rotterdam based research Center estimates a hike of up to 10 percent in air fares and As much As 23 percent in ferry tickets if the duty free business i ended. The Europea commission rejects that claim. Travellers will continue to spend in Airport and ferry shops duty free or not a spokesman said. A a travellers Are captive clients. When you done to have anything to do you go to the shops and you  new York amp pm a saudi arabian Prince has signed an agreement to buy $590 million in Citicorp Stock part of the company a plan to restore investor Confidence by infusing billions in Cash into the firm the Bank said. Prince Alwaleed bin Talal who made his Fortune in saudi construction and real estate could boost his stake in Citicorp to 14.9 percent through the Deal. Alwaleed already owns 4.9 percent of outstanding Stock in the United states largest banking company making him the largest individual stockholder a this personal investment demonstrates my full support for Citicorp and its management a Alwaleed said in a prepared statement. Citicorp said the private placement a an agreement Between parties that does no to occur on a set it cd Exchange a is the first step in its plan to raise More capital. Citicorp chairman John Reed announced last month the banking company is seeking an additional $4 billion to $5 billion in capital Over the next two years to strengthen its financial Structure amid one of the most severe banking downturns since the depression. Citicorp also is. Said to be interested in Selling 20 percent of its lucrative credit card business which could raise another $1 billion according to published reports. Citicorp has refused to confirm or deny the reports. A a