European Stars and Stripes (Newspaper) - October 27, 1994, Darmstadt, Hesse Page 14 the stars and stripes Money matters thursday october 27,1994 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use British Pound. 1.68 dutch Guilder. 1.63 German Mark. 1.46 note the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren cies 0"-.austrian Schilling. 10.535 Bahrain Dinar. 0.37675 belgian franc .30.725 British Pound. 1.6321 Canadian Dollar. 1.3485 danish Krone. 5.8485 dutch Guilder. 1.6745 French franc. 5.1292 German mark1.4978 greek drachma. 229.43 italian lira. 1,531.38 Kuwait Dinar. 0.2962 norwegian Krone. 6.516 portuguese escudo. 152.85 saudi rial ,.,., 3.7506 Spanish peseta. 124.69 Swiss franc. 1.2519 turkish lira. 35,790.00 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $388.80 an ounce Sliver quote $5.30 an ounce sources merchants National Bank & Trust co. And the associated press new York Exchange new York a sales the 15 most Active new York nationally tuesday. Tum team exams genmotors-.-,. . Ism r. Geneles a West he lest Kodak Kmart a. Chrysler a express us Citicorp. 4 . Price and net change of Stock Exchange issues trading volum10,934,200 5,417,200 4,949,200 3,812.600. 2.821,800 .2,738.9002,541,100 2,529,600 2,282.7002,138,900 2,0507002,042,600 2,034,400 2.016,200 1,957,300 Liu cart. 57h -3vi41h h 29 /4 h 25 -1% 73h h 6% a 33vi -1v4 47 Kunch. 13h h 48 v4 15h -.w-47v4 1h 29% i 36v -2/v unti Dow Jones new York a Dow Jones closing Range of aver Ages on tuesday High Low close change 30 industrials " 20 transport 15 utilities 3883.s6 3803.49.3850.59 oft4.7l 1484.14 1461.32 1474,13 off 1.63 175.39 177.63 up 0.20 179.01 65 stocks. 1288.96 12h53 1278.84 oftf.13 can Hooks up with computer firm new York a can on tues Day unveiled a joint venture with Intel corp. To provide Stock Market quotations and can and headline news video in personal computers. The service s Microsoft windows based software puts a Small can video Frame with audio and a user selectable Stock table on screen. The service would Cost $12.50 a month. Fortune picks Hong Koas King of business Best cities for business Good location Strong telecommunications and Low business taxes make Hong Kong the world s Best place to do business says Fortune Magazine. The top picks by Laura Gardner a business writer " landlords charge outrageous rents the streets Are clogged with traffic and the takeover by communist China looms less than three years away. But Hong Kong is the Best place in the world for business. So says Fortunie Magazine which crowned Brit Ain s capitalist enclave no. 1 in its first Ever global ranking of the most attractive commercial centers. New York City once a Symbol of . Urban decay ranks no. 2, helped by its role As a or Mecca of the information age with its advertising television and other Media conglomerates. The rankings appear in Fortune s nov. 14 Issue due out monday. Multinational Trade agreements and growing markets in the Pacific rim South America and Eastern Europe required a worldwide appraisal of the Best places to do business the Magazine said in explaining its new list. Hong Kong was on top in part because it adjoins China the world s fastest growing Economy and the biggest single consumer Market with More than 1 billion people. The British Colony also has Superior telecommunications shipping facilities and Low business taxes Fortune said. Never mind that Hong Kong property owners charge some of the highest commercial rents any where More than $96 a Square foot annually triple the new York rate. Never mind that Hong Kong is one of the most congested Urban areas with nearly 6 million people on a spit of land and adjoining islands. Fortune said the impending takeover of Hong Kong when Britain s lease expires in 1997 in t causing much anxiety. On the contrary Hong Kong is now seen As the Best Steppings Tohe into China it has a web of business and personal connections unmatched anywhere else. Officially China has guaranteed that Hong Kong s capitalist system will survive for at least 50 years after legged financial and communications heart of Europe also rank 1 2 3 4 5 6 7 8 9 10 atty Hong Kong new York London Atlanta Chicago Singapore Toronto san Francisco Frankfurt Miami population 5,932,000 7,312,000 6,677,000 395,000 2,768,000 2,792,000 635,000 729,000 654,000 367,000 Cost Olivin Index 148, -108 135 96 101 156 107 106 161 97 annual off pcs rental rat per Square foot $96,31 31.25 49.40 20.0025.57 7.00 27.00 24.44 45.29 20.43 source Fortune Magazine us to a Terry Ole the takeover. Fortune compiled the list from data amassed by Moran Stahl & Boyer a consulting firm that specializes in business locations. The criteria included costs government friendliness and Poten tial for Market growth. In what might be considered another unlikely Winner new York took the no. 2 spot despite a reputation for High taxes crime and crowds. Fortune which has its Headquarters in Newyork said the big Apple is getting friendlier. Mayor Rudolph Giuliani has cracked Down on panhandlers and other nuisances. He is dedicated to keeping corporate giants in the City and has funnelled Money into Broadway and other cultural centers. Third ranked London which Fortune called the Funchal boasts a thriving arts scene and Safe streets. Atlanta Home to can coca cola and the 1996 olympics was no. 4. No. 5 Chicago remains an essential transportation Center with the world s largest Airport and rail links to both coasts. Sixth ranked Singapore offers lower rents and a better Quality of life than Hong Kong Fortune said. With its proximity to China and other asian markets it could Cash in As a Dis count Hong Fortune highlighted Toronto s Chance to Benefit from the North Ajner ican free Trade agreement san Francisco s world class universities acid Frankfurt s dominance of european Bank ing in naming the seventh eighth and ninth ranked cities. Miami cited for its Strong ties to latin american Commerce rounded out the top 10. In airline ticket seam by new Day new York a scam that Cost . Airlines millions in ticket sales was Bro Ken up tuesday with the arrests of 16 travel agents. Law enforcement authorities said the 16 agents plus another 15 who Are being sought for arrest worked for about 20 travel agencies in new York new Jersey Florida and Texas that legitimately obtained Large blocks of airline tickets on credit sold them at substantial discounts and then went out of business pocketing the proceeds. These defendants misappropriated millions of dollars rightfully due to the airlines causing substantial economic harm to an Industry vital to the Economy of this District said Zachary Carter . Attorney for the Eastern District of new York. Carter said the losses sustained by the airlines were ultimately passed along to the Public through increased ticket prices. It is not unlike a situation involving counterfeit tapes or apparel he said it is not always the consumer that gets it in the neck but the airline itself. And the airline has to pass along the Cost to the Fri agent Rodney Davis said a few travellers were stranded at foreign air ports after it was discovered their tickets had been obtained fraudulently. Assistant . Attorney Julie Cope land who is prosecuting the Case said travellers should have been suspicious of the discounts they were getting. For example the travel agents allegedly sold tickets to Pakistan which normally Cost $3,000, for $1,200, and tickets to the dominican Republic which ordinarily Cost about $400, for $100. Travellers should know who they Are buying tickets from and if they get a ticket for $100, they should wonder what is going on Here " she said. William a. Gavin head of the Fri s new York office said such bust put schemes have Cost the airlines hundreds of millions of dollars since 1992. New pet drinks smell fishy one Beefy Chicago a a dog s life or a cat s,.for that matter might not be so bad after All. Now they even have their own gourmet water. The original pet drink co. Offers two brands of its gourmet pet drink called thirsty dog and thirsty cat they Are advertised respectively to contain Crisp beef flavor and tangy fish the drinks offered in 33 states went on Sale about two months ago. A liter costs Between $1.79 and $1.99, said Ajan Canfield jr., sales manager for . Can Field co., one of three bottlers and manufacturers for the drink. Original pet drink said the beverages Are made of triple filtered water and con Tain vitamins and minerals pets do not get from Ordinary tap water. The fort Lauderdale com Pany is aiming at a Market of 66 million dog and cat owners and 115 million dogs and cats said its president Mark Duke. Canfield said tuesday that his Chi Cago based bottler has sold More than 10,000 cases since the water was introduced. He said that a abut three times that amount has been sold nationally. We re outselling our Best expectation said Canfield who added that he has personally tasted both beverages. The verdict they re a Gyer going to outsell Coke or Pepsi he saw
