European Stars and Stripes (Newspaper) - December 15, 1993, Darmstadt, Hesse                                Page 16 the stars and stripes Money matters wednesday december 15,1993today s rates following arc fixed rates at which Community banking and credit Union facilities will sell for sign currencies to . Personnel for personal use. German Mark 1.67 British Pound 1.53 dutch Guilder. 1.86 greek drachma 236.843 note Thyl Ratos above apply within Trio Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following arc Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira 1,690.00 turkish lira 13,969.60 Spanish peseta. 139.96 portuguese escudo 174.85 austrian Schilling 12.013 Studl Royal 3.740 bahraini Dinar 0.3767 Kuwait to Dinar 0,2964 norwegian Krona 7.415 danish Krone 6.703 British Pound 1.4887 German Mark 1.7102 Swiss franc 1.4675 French franc 5.847 dutch Guilder 1.9119 belgian franc 35.62 Canadian Dollar 1.3265 note figures Are expressed in dollars to the British Pound other cursor Clos to the Dollar Odd quota $387.60 on ounce Silver quote $5.14 an ounce Dow Jones new York up a now Jones closing Inge of to Era Ges on monday High Lew Clou Chini 30 industrials 3780 64 3711.33 3764.43up 23.71 ?0transport 178391 1744.38 1771.95 up8.12 15 utilities 228 21 222.78 225.28up 0.52 65 stocks 1389.20 1362.58 1392,17up 7,19caribbean countries push Trade with Cuba Georgetown. Guyana a brushing aside . Objections a group of English speaking Caribbean nations officially established a commission with Cuba on monday to coordinate Trade and other joint relations. The signing at the Headquarters of the 13-nation Caribbean Community represented a Triumph for communist led Cuba which is seeking to Case its economic problems through new Trade partners and foreign investment. A it is an act which is taking place. In spite of Many pressures of All kinds to prevent it Quot said cuban Trade minister Ricardo Cabrisas rui2. It was a Clear reference to american criticism of closer economic lies with Havana which has been under a . Trade embargo for three decades. After a request by Havana the Caribbean Community voted in july to establish the commission despite heavy lobbying by .   player charged with theft Orlando Fla. A a Hughes aircraft employee who once played in the National basketball association has been accused of theft and trying to sell rival Mcdonnell Douglas confidential information on a $3 billion contract for Tomahawk cruise missiles. Rock a. Lee 37, a program manager for the Tomahawk maintenance facility at Hughes general dynamics in san Diego offered bid and pricing information for $50,00 1, the Fri said. Lee was charged with theft and bribery and released monday on $25,000 bail Trade deadlock broker. A i. Quot in ., european talks Geneva a the worlds two biggest traders the United states and european Union reached an agreement tuesday that paves the Way for the big gust Ever Trade Reform package. The . Side scored a Victory in its dispute with the eur Over government subsidies to the aircraft manufacturer Airbus industries but came away empty handed in its Effort to gain greater Access to european markets for Hollywood. . Trade representative Mickey Kantor said he and eur Trade chief sir Leon Brittan had Quot agreed to disagree Quot on subsidies to european filmmakers and barriers to . Entertainment companies seeking a stronger presence across the  they told a news conference that this dispute should not prevent a new general agreement of tariffs and Trade from being reached with More than 100 other countries. A i believe that today has been a Milestone in the history of world Trade a Brit Tan said Brittan was speaking for the organization that used to be called the european Community. The name changed when the maastricht treaty on european Unity took effect last month. Ahead of tuesday s announcement Japan took the politically sensitive move of opening its Rice Market to imports. The Gatt negotiators face a deadline today for a sweeping package intended to boost world Trade by lowering customs duties opening foreign markets and revamping outdated global Trade rules. The new Gatt Accord is intended eventually to expand the world Economy by More than $200 billion per year. The breakthrough came in an All night session by Kantor and Brittan. Prolonged bickering by America and the europeans had hindered Progress by All the other nations which had been seeking a new Gatt Deal for seven years and the trading giants had been prodded throughout the last week by Gatt chief Peter Sutherland. With a Deal in hand Kantor told reporters that american and eur negotiators would work a shoulder to shoulder Quot in an attempt to sell their package to the rest of the w orld. As the . And eur negotiators talked through the night Gatt printing presses had been rolling on a 400-Page draft Accord. By the associated press the general agreement on tariffs and Trade sets rules in world Trade. And has provided a forum for eight rounds of International negotiation s on lowering barriers to Commerce since it entered into Force in 1946. A reaction to widespread Walling off against imports during the 1930s great depression Gatt alms to boost world wealth by improving countries opportunities to buy from one  a = Gatt Cornerstone is the Quot most   a favored Natton principle designed to prevent discrimination. It says any  most apply equally to Alt other members. Countries that protect Home industries should use customs duties not quotas or other measures that limit imports waivers Are allowed though to both rules. Members May ask a Gatt panel to arbitrate in Trade disputes. Rulings put Publ of pressure on countries to Correct breaches of Gatt rules. The current round of Gatt talks is billed As a Chance to strengthen dispute settlement. But Gatt he no effective Power to punish violators. The United Stales has irked trading partners by reserving that right for itself. A Gatt is the name both for the agreement arid its administration based in an imposing building on the Hanks of Lake Geneva Switzerland  grown from 23 countries to 116 since the Geneva Headquarters started out with n the staff members and six typists. As details of the .-Eu Accord were released it became apparent that the French filmmaking Industry had scored an important Victory Over America. Kan Tor l indicated the audiovisual sector would not be covered by the new Gatt Accord. American movie companies want greater Freedom to do business in Europe. But local filmmakers particularly the French fear that an even bigger invasion of Hollywood blockbusters will devastate the european film Industry considered a vital part of the local culture. The eur however recently struck a Deal with America on agriculture which angered French Farmers who fear they will lose government subsidies that have allowed them to beat competitors in global markets by keeping the Price of French foods lower. Kantor also won an important Concession in getting an eur pledge to Cut aircraft subsidies. A Washington has Long complained about government Money being pumped into Airbus industries. The plan making consortium from Britain Germany France and Spain has become a big rival for the . Giants Boeing and Mcdonnell Douglas. There were signs that plans to open up Cross Border Trade in service industries such As banking and shipping might be smaller than originally hoped. Brittan said talks on financial services which had put Many nations at Odds with the United states would have to continue . A . Banks and financial houses fear they will be left out if the United states opens their Market to foreign competitors without gaining equal concessions from other countries. America had angered Many asian nations by proposing a two tier Deal that would offer Access to . Markets based on reciprocal Access being granted to . Banks. However Kantor said he had proposed a six month moratorium on this plan so the sides can try later to reach a More satisfactory arrangement. Critics of the . Stance on banking had said it would undermine Gattys principle of equal treatment for All. While the .-Eu deadlock persisted governments met the Overall target of cutting Standard import duties by an average one third and further cuts Are Likely to follow in last minute bargaining. Today s deadline was set in . Legislation that Grants president Clinton the Power to Send Congress a Gatt package that can Only be approved on a take it or leave it basis. . To drop a curb on Vietnam work Hanoi Vietnam apr american companies can begin bidding in the next week or two on hundreds of millions of dollars Worth of proposed development projects in Vietnam funded by International institutions senior . Officials said tuesday. It will Mark the first time for . Companies to do business in Vietnam since the country fell to communist North Vietnam on april 30, 1975, when the . Embassy in the South was closed and a Trade embargo imposed. President Clinton announced sept. 13 that he was easing the Trade embargo to allow such bids but his order had not been Pul into effect. Kenneth m. Quinn Deputy assistant Secretary of state for East asian and Pacific affairs told a news conference that the Treasury department has written the regulations and a i think they Are Likely to be put into effect this w Eek or  both he and assistant Secretary of state Winston lord denied that Clinton a order allowing the bids had been put on hold because of allegations that Commerce Secretary Ron Brown look a bribe to help lift the embargo a it Lake a Little Lime for the Treasury department to work out All the details and they want to get it right Quot lord said Quot they be been moving with As much Speed As  Quot this is the single most Complex step that a been taken to modify the embargo Quinn said. A there Are Many questions about it and so they had to review at of those. They re m l final Lav a  during a visit to Vietnam this month so. Frank h Minkowski Riaska charged that Clinton s order had not been put into effect because Quot there a been a concern Over allegations levelled on the Secretary of Commerce that Are still pending a. The Fri and a Federal grand jury in Miami Are investigating allegations that Brown accepted $700,000 to help lift the embargo. The allegations were made to Binh t. By a vietnamese american businessman. Brown has strongly denied them t at stake Are a reported $500 million in projects being considered for Vietnam by the world Bank and asian development Bank including the rebuilding of ports roads Power plants and irrigation systems. A Clinton has left in place other sanctions that prohibit . Companies from participating in other Trade and commercial interests. He has made a Fullja a tiny of the embargo contingent on the fullest possible accounting of 2,248 americans still listed As missing in Southeast Asia. Lord was in Hanoi to urge vietnamese leaders to intensify their efforts to he a account for is Las