European Stars and Stripes (Newspaper) - January 12, 1993, Darmstadt, Hesse Page 16 the stars and stripes i Money matters tuesday january 12,1993 today a rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use. Quot _ German Mark 1.69 Brt lab Pound see eee a a a Aee a a 1.59 dutch Guilder 1.79 greek drachma epee Acree. 213.6981. Not the a a above Appy of Tho lha Host Ooi try. Figure Ara in do Tara to tha Bratt Pound to lha Dollar following Are Interbank rates that fluctuate and should be re Garden sch amp approximate value of the . Dollar to foreign currencies v a. Italian lira 1.497.00 turkish lira be 0,690.70 Spanish peseta. 116.03 portuguese escudo 14641 austrian Schilling Emilip a aah 11.4975 saudi Hal a see Eye epee Sest a Esee eee a 3.7493 Bahrain Dinar 0.37675 Kuwait Dinar 04040 norwegian Krone. 7459 danish krone0.3195 v British Pound 1.547 it Man Mark 14345 Swiss franc t.493 French France eee be a Ccu coca 5.533 dutch guilder1,8374 belgian franc. 33.64 Canadian Dollar. 1.2762 Noto figure Mit a of Etc in Coder to the British Pound other currencies to the Doller Gold quote $328.40 an ounce Silver quote 13.88 denounce3 firms to bid Washington a economic forecasters predicted sunday that Ameri can businesses will create 1.59 million jobs in 1993, the most in four years but a weak showing compared with other economic recoveries. If the forecasters Are right president elect Clinton will enter the White House aided by the Best employment performance since payrolls grew by 2.11 million during president Bush a first year. The consensus prediction of the 50 economists surveyed by Blue Chip eco nomic indicators compares with an anaemic 557,000 non farm payroll growth in 1992, the final year of the Bush administration. The Economy lost 955,000 jobs in 1991 and 56,000 in 1990. The actual Job growth in 1992 and the projected payroll additions in 1993 illustrate the sluggishness of the recovery. Following the previous recession the number of new jobs grew by 3.5 million in 1983 and by 3.98 Milhon in 1984. The Blue Chip Survey a the first of this year a projects the Economy will grow 2.9 percent this year. Although it would Bei the fastest Pace since a 3.9 percent expansion in 1988, it would be Naif of the average growth following other recessions since world War h. The government will not Issue its estimate of 1992 growth until late this month. But Bush a budget projected last week that the Economy expanded by 1.8 percent. The Bush projections based on As. A 1 _ l., in aaa Hamlata. Percent. Projects economic growth at 3.2 percent next year. The Economy grew 3.9 percent in 1983 and 6.2 percent in 1984. But the modest growth will continue to curb inflation the Survey predicted. The consensus Calls for the consumer Price Index to increase 3.1 percent this year and 3.6 percent in 1994. For the first 11 months of 1992, inflation was rising at a 3.1 percent annual rate. Survey participants represent Banks businesses economic forecasting services universities and Wall Street firms. Economist Robert j. Eggert sr., who conducts the monthly Survey and edits the Sedona ariz., Blue Chip newsletter said increased business investment spending topped the list of factors that would contribute to growth this year. A the delayed effects of the Sharp drop in interest rates during the past several years was rated As the second most important Factor Likely to Aid the Economy in 1993,�?� he said. 7 a the rebound in consumer and business Confidence was the third highest rated Factor. Among the new factors added to the list were improved business and consumer liquidity and the probable enactment of fiscal stimulus including an investment tax credit by the incoming Clinton Eggert said continued cuts in military spending and White Collar jobs were the Factor ranked most Likely to restrain growth this year. Second was continuing weakness in the economies of americans trading partners that Wilt crimp . Exports a major source of economic strength in recent years. A continued weakness in the Commer dal real estate sector was rated the third worst Factor a he said. A new additions to the unfavourable list include the slow rate of growth in disposable income and the Low savings rate and concern about tax increases Bank regulation and further intervention in the Market Economy a As on subway cars los Angeles up1 a . Subsidiary of Industrial giant Siemens a announced plans to head a partnership of three companies that will bid to build 72 rail cars for the new los Angeles subway system. Siemens due wag Sacramento calif., said it Hopes its partnership with try aerospace of Redondo Beach calif., and Aai corp. Of Baltimore will Lead to a rail car Industry in los Angeles. A we will establish 4 major rail manufacturing operation in los Angeles which will be capable of delivering products for Light rail systems throughout the United states a said Gunter Ernst president of Siemens due wag. Siemens due wag is the nations largest Light rail vehicle maker supplying rail cars to san Diego Denver Sacramento Pittsburgh and St. Louis. At its Sacramento area facility Siemens due wag will design and assemble vehicles and manage testing procedures. Ernst added that Aai has negotiated a technology Transfer agreement with Siemens due wag that will allow Aai to make major components for Light rail vehicles in los Angeles county a this decision is economically sound because of the forecast growth of Light rail programs in the United states a said Jim Talley president of Aai transportation. Try would provide advanced technology products As part of the advanced transit products development program included in parts procurement a we Are strategically positioned to blend our aerospace technologies nod our transp i no 1 t 1 jul i together to support the s n 11 i 1 Aid Donald c. Stager \ ice i 1 i guat manager of try a it t1 Ion. 1 i a a i in. A i a 1 4 j h t. I i. I i. A. 1 s j a Uli. 1 a. Riih a to Jav be Cmidov-111 cd i 1 i 1. 1. Is. 1 m a a ii Coj in in in 11 my d pm in . Japanese companies had some of the largest exhibits at the electronics show in Las vegas which concluded sunday. Japanese electronic firms focus on . Lions biggest display areas. Jeff Mullarkey vice president for marketing at Gold Start a . Subsidiary said that with consumer debt remaining High around the world the United states is a very very key Market because americans savings rates appear to be on the Rise. 1 1 1 in 1 t a 1 1 it a Coli a , p k 1 to Las vegas apr Japan a big electronics manufacturers Are moving to boost . Sales to counteract Tough economic times at Home starting with a Strong showing last week at the 1993 Winter consumer electronics show. Sharp Sony Casio Canon Sanyo Matsu Silita s Panasonic co. And others had some of the largest displays of consumer goods at the show which conclude d sunday. Quot Michael Williamson vice president for sales for Sharp electronics consumer electronics group said economic uncut bunnies in Japan and Europe Are a putting a Jot of pressure on the Ameri Cari Mihet to offset a a we re going to have to won really h us tit have a Sucic it a a Tel year Wiliiam a 1 a .0.� in a Civ Lacr duct Tenhs in tee United slates saw a 7,� pc Cen jump in sales to $38.2 billion according to the electronic industries association. The Trade group predicts 3.5 percent growth this year. The Industry has come to be dominated by japanese producers among major television and videocassette recorder makers for instance there Are almost no american Brand japanese and South korean companies Are increasingly building their products at factories in America. Sharp produces Many of its products in Memphis Tenn. The american made products it displayed Cutura Ikid pome out while the compan a merchandise carried n h in t i a. Ovi Uin a. Ii..nu.sotdi-Eis also a pc Ilju rat i Ati pie this year. Ihmi sir i lotion internal Ion a a Sut a n a. T to. L an giant Lucky Mohlis .m i h a t c of the Conven some american companies have positioned themselves Welt in relation to both the United stat Sand Japan International Jensen of car and Home audio speakers Sells to both us and japanese car last week when Ford announced a its Taurus had for the first Tinie in the United a a k a was meat news for fool but Didu t of 1. Much to Jensen a a mud to chuckle a said Roberto six a p president and chief executive of the t eau Luis cd company. A a we Seia he a a a 1 1 a a a
