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The partedl PRECANTELE The 5 por cont Interim British Match Cati tim ui cum e alcalym, Timu jae bts 14 at J Wilby Tram Ta ville kaba hitimo cheg. 11 Wine by 21.9mm. homn mul While the market be puilui" kay mat-tal ruit, cant the opitud an exprmant in Ilja Voncentratting in the of unwas
Ming to go of the high Match bod that the mom play pill, fail the Hit shade, down hom
price here p to tap and h
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Butt L Te Pasqu❘ would be no particular sut siner last August testify to the Monopolies reference
from kuprise if earnings in the final take-off of raw material prices; Match is quietly putting out the in
16|quarter, for example, were to the overall increase is reckoned message that its own pro: peets, chica
3 clea aleduga dip a little below the figure of to be above 50 per cent. And a after a pre-tax jump from 25.4m
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U.K.-Hong Kong talks start to-day on & balances
.. dily very BY ROBERT GRAHAM
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IMPORTANT DISCUSSIONS are When the pound floated last the agreement could bo toplukan paul due to begin to-day between summer ad hoc arrangements ha
Treasury ollicials and Mr. Philip to be introduced. Britain agreed Haddon Cave, Financial Secré- to compensate Hong Kong when tary of Hong Kong, où the future the pound went below $2.40 for a
Renegotiation poses a dilemma | tolto of the colmiy's sterling balances, specified period. There was also for both Britain and the Com Hong Kong is believed to be the talk that the level of reserves monwealth countries. Largest of the oincial holders of could be reduced to 89 per cent, wishes to see the question of Since then the issue has been the sterling balances resolved in hared "leader{sterling covered by the Buste agreement of 1968.
further complicated by the link- the context of European economici im The agreement expires at the ing of the Hong Kong dollar to and monetary union. They will sha Ces cmerged |
"next month and Me, the U.S. dollar (although the certainly not take place before | 114 Thaddon Cave has come to Lon. authorities in Hong Kong intend the Basle agreement expires in Telted dou at his own request to re- to repeg to sterling once the cur- September.
This rency situation settles down),
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it strẩy way approach for renegotiation made. Reluctant
by an oileral sterling holder.
The Hong Kong Government,
The U.K. is belloved to have tees of 1968 unsatisfactory in which has some 1900m. In ster wanted to approach the matter on protecting them agaurd fuchir the international POSAVES, has apparently a multi-lateral basis but not all tions, in [haeu pressing for talks on the countries concerned have been so monetary system with the
keen, especially Singapore and of European eurrenents and the subject for some time,
Basic agreement Malaysia. A Treasury spokesman Japanese yen. Britain undertook to compens said yesterday that Mr. Barber Yet it is not easy for them to 1 Badented
Hong long- and
nigeting the other fad alternative anata for theu jine at other would b
The Commonwealth reserves because of the restric kejar tevest quia sterling holders--for losses in- holders at
valved In devaluation of Furance Ministers' meeting in tions placed
speculative | pourth Have them by
there was the starting against the dollar. In re- Dar-es-Salaam on September 19. money by a number of European foam
turn Hong Kong agreed to keep The Treasitry yesterday was re- countries, while any largoseate | witho 99 per cent. of its reserves in luctant to discuss what type of attempt to sell sterling would London. In the case of other new arrangement was being con- simply drive the price down and I did countries the percentage varied sidered. However, there has been thus the value of the remainin
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but was generally much lower.
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speculation in Hong Kong that unsold reserves, or crook
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R-R Motors target profit doubt
BY KENNETH GOODING
2001 am, 190lZWBYidente: læn...ROSSTRITREY. WINK VAN fan-tha Riluan, khunki
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