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the belgian consumer price index rose a provisional N N in october from the previous month and was up N N from october N the ministry of economic affairs said |
the index which uses a base of N as N was calculated at N points in october from N in september |
annual inflation rose to N N in october from N N in september |
belgium 's inflation has been rising steadily for the past year but the ministry said the latest rise is slower than gains in september and august |
nashua corp. rumored a potential takeover target for six months said that a dutch company has sought u.s. approval to buy up to N N of nashua 's shares |
nashua immediately responded by strengthening a <unk> plan and saying it will buy back up to one million of its shares or N N of the N million outstanding |
nashua whose major business is selling <unk> facsimile machines and related supplies said <unk> & co <unk> of the netherlands filed a request with the federal trade commission under the hart-scott-rodino act for permission to buy more than $ N million of nashua 's stock but less than N N |
previously an affiliate of unicorp canada disclosed a stake of less than N N in nashua according to daniel m. <unk> nashua 's treasurer |
nashua 's stock has <unk> sharply on takeover speculation rising to a high for the year of $ N a share in june from $ N in march |
but the company has had weak results so far this year with earnings declining N N to $ N million or $ N a share on a N N decline in revenue to $ N million through the first nine months of the year |
its stock has slumped recently closing unchanged friday at $ N a share in composite trading on the new york stock exchange at that price the company has a market value of about $ N million |
nashua announced the <unk> request after the market closed |
mr. <unk> said nashua 's intention is to remain an independent public company |
the company said it amended its shareholder rights plan by reducing to N N from N N the level of ownership by an outsider that would trigger the issuance to other holders of rights to buy additional shares of nashua common at half price |
in addition the company 's board authorized the purchase of up to an additional one million shares |
under a program approved by the company in N that did n't specify a share amount nashua had purchased N shares through sept. N |
alex henderson an analyst at prudential-bache securities said that while nashua 's performance this year has been <unk> the company nonetheless is attractive as a classic breakup candidate because there 's no similarity between its four businesses |
he estimated the breakup value at $ N a share |
in addition to selling <unk> <unk> and facsimile machines in europe and <unk> supplies in the u.s. nashua has three other major businesses labels and tapes data storage disks for computers and mail-order <unk> |
the closely held supermarket chain named frank <unk> vice president and treasurer |
the <unk> mr. <unk> joins grand union from singer co. where he was treasurer |
the current account deficit on france 's balance of payments narrowed to N billion french francs $ N million in august from a revised N billion francs in july the finance ministry said |
previously the july figure was estimated at a deficit of N million francs |
seasonally adjusted figures for august were n't available because of a recent strike that has disrupted the ministry 's data collection |
weisfield 's inc. said it is in preliminary discussions regarding the possible sale of the company |
a spokesman for the retail <unk> said the company would provide more details today and that it expects to reach a definitive agreement by the end of the week |
in over-the-counter trading friday weisfield 's gained $ N to $ N |
at that price the company has an indicated value of $ N million |
weisfield 's had about N million shares outstanding as of july N |
the stock gained $ N thursday to close at a <unk> week high |
in the aftermath of the beijing massacre on june N economists advanced wildly <unk> views on how hong kong would be affected |
among the most upbeat was <unk> brokerage asia ltd |
in a june N reaction the bankers trust co. unit proclaimed the economy <unk> |
others were more cautious |
in a july analysis titled from euphoria to <unk> <unk> carr far east ltd. another securities firm said that eroding confidence might undermine future economic development |
today with business activity in hong kong staggering along at an <unk> pace the economy itself seems locked in a struggle between hope and fear |
manufacturers have survived the turmoil in china largely <unk> |
signs of revival seem evident in hong kong 's <unk> hotel sector |
but in the stock and real-estate markets activity remains <unk> even though prices have regained much of their lost ground |
<unk> demand reported by <unk> retailers and even fancy restaurants all reinforce a profile of a community that is sharply tightening its belt |
as many economists and businessmen see it those <unk> underscore a <unk> that seems likely to <unk> the economy throughout the 1990s |
that <unk> is hong kong 's economically rewarding yet politically <unk> relationship with china |
as a model of capitalist efficiency on southern china 's <unk> hong kong 's prospects look good |
china 's land and labor offer <unk> alternatives to local industry |
<unk> freight <unk> through the territory 's port |
in the decade since the communist nation emerged from <unk> its <unk> trade with the west has lifted hong kong 's status as a regional business center |
these benefits seem secure despite china 's current economic and political troubles |
but to hong kong china is n't <unk> business |
it is also the <unk> power that come N will take over this british colony |
china 's leaders have promised generous <unk> for <unk> hong kong |
that promise sounds shaky now that those same leaders have fallen back on marxist <unk> and <unk> force to crush their nation 's democracy movement |
outflows of people and capital from hong kong have been growing since the sovereignty issue first arose in the early 1980s |
a widely held assumption all along has been that given its robust economy hong kong will be able to attract sufficient foreign money and talent to <unk> offset the outflows |
with interest in emigration and investment abroad soaring since june N that assumption no longer seems so safe |
investment and emigration plans take time to come to <unk> |
only four months have passed since the beijing massacre and few are prepared to predict its ultimate impact |
the only consensus is that more money and people may leave hong kong than had been thought likely |
this expected blow has cast a pall over the economy 's prospects |
the question as many people see it is how long such uncertainty will last |
<unk> fraser an economist with <unk> carr a subsidiary of france 's banque <unk> believes that the territory may not be able to regain its momentum until some time after N |
it may experience an <unk> or two in between |
but with local investors shaken by china 's political and economic turmoil she says a genuine recovery may not arrive until hong kong can prove itself secure under chinese sovereignty |
investors have to accept the possibility of a significant slowdown in economic activity in the <unk> to N she says |
over the next few years i would advise caution |
in a <unk> published book on the territory a political economist <unk> <unk> has derived three future scenarios from interviews with N hong kong government officials and businessmen |
nearly half of them argue that hong kong 's uneasy relationship with china will <unk> though not inhibit long-term economic growth |
the rest are split roughly between <unk> who expect hong kong to <unk> along as before and <unk> who <unk> <unk> chaos |
the interviews took place two years ago |
since the china crisis erupted mr. <unk> says the scenario as <unk> by the <unk> group bears a remarkable <unk> to the difficulties hong kong currently faces |
the consensus of this group which he <unk> <unk> is that the local economy will grow through the 1990s at annual rates averaging between N N and N N |
such a pace of growth though respectable for mature industrialized economies would be unusually slow for hong kong |
only twice since the 1960s has annual gross domestic product growth here fallen below N N for two or more consecutive years |
the first instance occurred in N when china 's cultural revolution triggered bloody street <unk> in the colony |
the other came in N from the combined shock of world recession and a severe local stock market crash |
during the past N years hong kong 's economic growth has averaged N N annually |
given hong kong 's record mr. <unk> 's <unk> might have sounded <unk> conservative when the interviews took place two years ago |
under the current circumstances he says their scenario no longer seems <unk> |
the city could lose some of its entrepreneurial flavor |
it could lose some of its <unk> says mr. <unk> a director of baring securities hong kong ltd. a unit of britain 's <unk> plc |
it does n't have to be a disaster |
it just means that hong kong would become a less exciting place |
going by official forecasts of <unk> which measures the colony 's output of goods and services minus foreign income mr. <unk> 's <unk> seem relatively close to the mark |
after taking into account the fallout from the china crisis the government has projected N <unk> growth of N N |
the <unk> forecast published aug. N compares with an earlier forecast of N N published march N and a N N rate achieved in |
sir <unk> jacobs hong kong 's financial secretary says a further downward revision may be justified unless the economy stages a more convincing rally |
we are n't looking at anything like a <unk> scenario he says |
but clearly we 're entering a difficult period |
many factors besides a <unk> of N will have a bearing on hong kong 's economy |
one concerns japanese investors |
barely visible on hong kong 's property scene in N by last year japan had become the top foreign investor spending $ N million |
the market has grown relatively quiet since the china crisis |
but if the japanese return in force their financial might could compensate to some extent for local investors ' <unk> commitment |
another and critical factor is the u.s. hong kong 's biggest export market |
even before the china crisis weak u.s. demand was slowing local economic growth |
<unk> strong consumer spending in the u.s. two years ago helped <unk> the local economy at more than twice its current rate |
indeed a few economists maintain that global forces will continue to govern hong kong 's economic <unk> |
once external conditions such as u.s. demand swing in the territory 's favor they argue local businessmen will probably overcome their N worries and continue doing business as usual |
but economic arguments however solid wo n't necessarily <unk> hong kong 's N million people |
many are refugees having fled china 's <unk> cycles of political repression and poverty since the communist party took power in N |
as a result many of those now planning to leave hong kong ca n't easily be <unk> by <unk> improvements in the colony 's political and economic climate |
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