| Dollar Drops This Week as US Applies New Tariffs to China
March 31 (Bloomberg) -- The dollar dropped against the euro and the yen this week after the U.S. added tariffs on imports from China, fueling concern the levies will reduce trade flow with the world's biggest holder of foreign reserves. The U.S. currency also fell against the yen on speculation mounting tension in the Mideast will lead investors to reduce holdings in riskier assets financed by loans in Japan. The tariff and Mideast concern yesterday offset U.S. reports showing signs of a stronger economy and accelerating inflation. ``The whiff of protectionism killed off the bullish sentiment on the dollar,'' said Shaun Osborne, chief currency strategist in Toronto at TD Securities Inc. The dollar fell to $1.3356 per euro, down 0.55 percent from March 23.
Sarris pledges to cap public servant numbers
FINANCE Minister Michalis Sarris said yesterday that the government would honour its commitment not to expand on an agreed moratorium on hiring in the civil service. He was speaking at the 44th congress of PASYDY, the civil servants blanket union. Sarris said the government would make good on its promise of opening new positions in understaffed departments, including Town Planning, Immigration and divisions in the ministries of the Environment, Health and Labour. The minister praised PASIDY for its responsible stance with regard to the gradual extension of retirement age to 63. On the economy, Sarris focused on Cyprus adoption of the single currency next year, saying adoption of the euro would boost state finances. Prices are not expected to rise, since the eurozone is an area of low inflation, and in any case the value of the Cyprus pound is greater that that of the euro, noted Sarris.
IA Global Hits Profitability for the Three Months Ended December ...
IA Global Inc. announced the following results for the three months ended December 31, 2006, as compared to the three months ended September 30, 2006: * Revenues -- increased 73% to $7,742,000 from $4,483,000. * Gross profit -- increased 100% to $7,778,000 from $3,879,000. * Net profit from continuing operations -- $548,000 as compared to a net loss of $1,179,000. * Net profit per share from continuing operations -- increased to $.01 per share from a net loss per share of $.01. Key Accomplishments in Fourth Quarter * Successfully negotiated a settlement with a Tier 1 Telecommunication company whereby Global Hotline recognized $2,870,000 in revenues and repaid $1,019,000 related to a contract that expired March 31, 2006. * Successfully executed a new contract with a major international insurance company and recognized $728,000 in revenue during the three months ended December 31, 2006 and deferred $728,000 into fiscal year 2007.
The US-China Relationship: Only paper thin?
Los Angeles --- It is not always easy to tell whether the government of China is really, truly that angry when it tells the world that it is really, truly angry. But lately China has been telling anyone who'll listen that it's furious beyond words with the U.S. right now. The cause for Beijing's dismay is the Bush administration's move toward imposing hefty import taxes on incoming Chinese coated paper. The sulking out of Beijing is sullen and significant, even if somewhat stage-managed. This is because the Chinese appreciate that such U.S. trade retaliation could spread from coated paper to a whole raft of allegedly subsidized Chinese imports. The growing anger on the American side originates mainly with those industries who feel their products are undercut by China-originating plastic, steel and textile goods that are priced impossibly cheaply.
Blyth, Inc. Reports 4th Quarter and Full Year Sales and Earnings
GREENWICH, Conn., April 4, 2007 (PRIME NEWSWIRE) -- Blyth, Inc. (NYSE:BTH), a leading designer and marketer of home fragrance products, home decor products and household convenience items, today reported Net Sales of $379.8 million for the fourth quarter ended January 31, 2007, which were approximately even with last year's fourth quarter sales of $380.7 million. Included in last year's results was $3.1 million of sales from Impact Plastics, which was sold in the fourth quarter last year. Excluding the effect of Impact Plastics, fourth quarter sales increased 1% over prior year's fourth quarter primarily due to sales growth in PartyLite's international markets, as well as in the Miles Kimball Company and Boca Java. International sales represented 34% of total sales in the fourth quarter this year versus 31% last year, reflecting strong growth in several of PartyLite's international markets.
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