Winnipeg Free Press

Winnipeg Free Press (Newspaper) - October 5, 1985, Winnipeg, Manitoba Metals closing prices Tran Canada option Winnipeg free press october 1985 Page 14 open meeting ends in disorder Vienna a a today con Ference of the organization of Petro Leum exporting countries broke up in disarray yesterday with Ecuador considering dropping out and saudi Arabia formally surrendering its role As mainstay of the groups Price there were Strong signs that the Cartel was seriously thinking of abandoning its Price fixing but analysts said the inconclusive meeting should have no immediate Impact on Oil where prices have been rising because of a sea Sonal increase in demand at a time when Oil supplies have tightened up a analysts and Oil ministers that the upward trend is Only temporary and prices will fall again in the with Ecuador walking out of the conference after the opening session on the remaining 12 open ministers put off further talks on crucial issues until a december meeting in the ministers failed to resolve an internal dispute Over whether to Grant requests by Ecuador and five other members for bigger shares of open Oil none of the seven other members was willing to give up part of its production to accommodate the proposed in officials and ecu Dors defection More flexible the groups current system of pricing and production will remain in at least until it is reviewed in said saudi arabian Oil Ahmed Zaki Yamani reiterated that his coun the worlds leading Oil exporter has abandoned specs traditional system of charging a fixed Price for crude opting instead for a More flexible system that allows the Price to move up and Down with Market Yamani said saudi Arabia has adopted a setback system of pric meaning the Price is linked to the value of the products refined from the this is a Concession to Oil since it protects them from losses in processing the Oil into gasoline and other Industry sources familiar with the saudi arrangements said the first cargoes of arabian Light crude Oil were tentatively priced at around a below specs official who would not confirm any figures for the said he did Yamani seeks answers not believe the change in saudi policy would Hurt specs Battle to prevent a collapse of other open leaders noted that Ope Market Oil prices had been Ris ing recently in response to iraqi bombings that have curtailed Iran Oil exports at a time when Western Oil supplies Are unseasonably Low and demand for heating Oil is even the saudi move was seen by other open Oil ministers and by some analysts As a sign that open was moving away from the Price fixing system it has Clung to since the first world Oil crisis in specs indonesian Oil minister told reporters open will begin immediately to reassess its pricing asked Why open bothered to keep its official Price Structure when most of the member countries were using some form of Subroto said the official Price is still important As a he indicated that the time might be coming when open would be better off to adjust its prices More with trends in the open we have been around for 25 years and a new period is in front of he Ecuador chief Fernan do Santos did not attend a thursday afternoon session or the final meeting he told reporters he was instructed by his government to return to Quito for consultations on whether Ecuador would remain in Ecuador had said an increase in its production rate was crucial to its Economy and that if the increase was not granted by open it would be compelled to consider withdrawing from the developing nations demand easier credit Seoul a developing coun tries will demand billions of dollars More assistance while five major industrialized Powers will discuss the Fate of the sinking Dollar today at an annual Summit meeting of world financial the question of How Well Aid is helping the most impoverished countries will also be on the Agenda on the fourth Day of the 211 meeting of the International Mone tary fun world about 650 students at two Seoul universities held Brief Trade Deal election Issue Vancouver up Canada and the United states could have a new Trade agreement by just in time for it to be an election Issue on both sides of the Federal International Trade minister James Kelieher said it is inescapable that it will be an election Kelieher said it an he said Canada is urgently pursuing Trade talks with the United states because expanded Trade is seen a solution to new investment is needed to Cre ate but will not come until Canada has secure Access to markets in the he Kelieher said the government is pursuing a fair Trade agreement and not a free Trade he said a bilateral agreement with the United states would be negotiated under the principles of the Gener Al agreement on tariffs and Canada is not seeking to negotiate the agreement under Gatt auspices because talks with the Geneva based Trade Agency would take too on Campus demonstrations against the korean charging it with using the in world Bank meeting to conceal the country foreign debt problem and prolonging its the demonstrations were not close to the hotel where the delegates and other officials Are but tear Gas used to disperse the Stu dents could be detected in downtown extensive Security is in effect for the the largest International gathering Ever held in South about police and other personnel have been mobilized and Security at the Confer ence site and hotels where Dele Gates Are staying is extremely ministers from the group of the representatives of the developing Are to Issue a communique calling for easier cred it and fewer restrictions on sources close to the group said it will demand that the world Bank in crease its lending to billion a year by fiscal More than billion above present the United states and other industrialized facing eco nomic problems at have been reluctant to increase their Aid out the group of chaired by argentinian finance minister Juan will voice concern about the budget High interest rates and the Drift toward protectionism among industrialized said the who asked not to be the third world caucus will also caution against reported aspects of a new plan for increasing Aid to the worlds neediest coun the sources to lease or own facilities site selection services provided by experts competitive prices or rates within one week entirely without obligation or Cost pictures and inspection of current projects Mike Lytwynec corporate real estate services 9434711 lower Money Cost trend expected As Banks Cut rates by Eugene Ellmen Toronto up Canadas five major Banks have Cut their prime lending rate to 10 per its lowest level in seven in what economists say is a sign of things to one of the Banks lowered its certificate and savings account while at least two others Cut savings the Canadian Imperial Bank of Bank of Bank of Nova Toronto Dominion Bank and Royal Bank Cut their prime the rate charged to their most creditworthy by on Quarter of a percentage Point effective the new level is the lowest since economists familiar with interest and Exchange rates said the Cut is part of a trend to lower interest rates for months to have been tipped from possible increases to the other said Ben economist with the Doug senior Vic president and chief economist at Toronto do minion said lower interest rates Are assured by the agreement to curb the strength of the Dollar reached two weeks ago by the five largest industrialized coun because the five countries pledged to take measures to reduce the value of the american the government will maintain a Lowin Terest rate he Peters said interest rates could fall an additional percentage Point by this time next As part of its agreement with Japan and West the government promised to take measures to reduce interest rates in order to Cut inter National demand for the agreement unleashed some of the forces that were already mov said the Bank of Canada responded to the lowering its Bell wether lending rate to nine per cent on its lowest level since the summer of this the Central Bank continued the albeit by lowering the Bank rate 1100 to for Sale by original owner 1981 Jaguar beige Interior in prime inspection by Price negotiable following 1 Asp successful investing a financial planning approach 16th trl Zec 360 main october 10lh october 12th to Register Contact Carolyne Dale 9423431 Dominion bakery for Sale fully located in the phone 9471991 after 3398648 Don Turner John ones in per Bilant of Lincoln Mercury Ltd in to non ounce Tho promotion of Don Turner to Tho position of new Mari Kjor Don Many a orb of exp Orinoco m All of Damu Tiiu looks Orwal to servicing your total Lulu motive needs acc Cuddy cd it across ipod 333 car Kidd o pol o 7722411 the partners of Mcjannet Weinberg Rich Are pleased to announce the recent association with their firm of Barbara Mcfarlane Solomon Rusen Wolfgang Riedel Mcfarlane preferred area of practice is tax planning and tax Rubens preferred area of practice is criminal Jack Lionel Arthur William Abraham Anhang Allan Adam Kenneth Ernest Wehrle Murray Kravetsky Richard Rice Michael Werier George Orle Dana Nelko Jeffrey Schnoor Michael we cock Barbara Mcfarlane David Cheop Sylvia Guerton Solomon Ruben Edgar Schmidt Peter Sim Christian Malburg Gail Perry Michael Finlayson Margot Langdon Wolfgang Riedel Dave Holden integ Allan chairman of integ management support services is pleased to announce the appointment of Dave Holden As president of integ food services Dave hoi Dens years of experience in the food service Industry will be a major asset to Intens in addition Dave Holden will be responsible for the expansion Success of Carrington beef in Western Canada along with the growth of chocolate gourmet treats in Manitoba Northern Dave holdens knowl Edge of the hospitality Industry is Well his Many friends and business associates wish him the very Best in his demanding you enjoying the highest interest rates available new rates on guaranteed investment certificates or registered 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