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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jan 11, 1977
Page
2
Figures released by the Bureau of Statistics show November savings growth well below the yearly average. The Australian Banks Association notes deposits rose across all banks with investment and deposit stock accounts continuing to grow in November, reaching multi‑million totals and constituting a significant share of total savings bank deposits.
Brazil rejects a Colombian proposal to stabilize coffee prices amid a boycott that raised global concerns. President Geisel favors an International Coffee Council meeting to examine supply in the coming years while Brazil resists joining producer cartels. The move comes as frost and drought earlier disrupted production, with a recovery not expected for years.
US President-elect Carter plans direct talks with Britain France West Germany and Japan to prep for an economic summit likely in May or June. He will telephone leaders and discuss a tour by Vice-President-elect Mondale. Officials expect stimulus measures to cut unemployment while boosting growth.
A cluttered OCR list shows scattered numeric entries and names like Halle, Tremus, Criss, and Kor with many unreadable segments. The text resembles a price or sales table with multiple people and places, but only fragments are readable. The overall item appears to be a historical catalog or ledger page with numerous figures and identifiers.
The ACT Ansett Airlines office appoints Murdoch as national marketing head with plans to expand. He notes traffic growth as a priority and signals optimism about brighter times ahead. Separately Rupert Murdoch's takeover bids for New York Post and New York magazine draw Time and Newsweek covers comparing him to King Kong and Citizen Kane.
Iran said in a government statement that exports have fallen by 1.5 million barrels per day in recent weeks. No new total export figure was given, with December data pending. November production averaged a record 6.7 million bpd, totaling 200.3 million barrels produced and 185.2 million exported.
Government data show natural gas sales dropping by seven million cubic metres as a daily flow of 25 million cubic metres through a 2106 kilometre pipeline to Astara on the Soviet border is cited. Iranan oil exports were expected to fall early this year due to stockpiling ahead of OPEC talks. NIC said direct crude sales dropped from 2 million barrels per day since January 1 as some buyers faltered on price obligations. Abu Dhabi and UAE officials announced new crude prices effective January with ranges around 11.44 to 15.20 per barrel, amid 5 percent and 19 percent planned increases by Gulf Co-operation Council members.
The Paris based OECD says consumer price rises slowed to about 0.0 percent on average across major Western industrial nations in November, with the end-November annual inflation around 6 percent. Divergences persisted between North America and Japan, while Europe showed varied trends. Switzerland and West Germany saw near-stable inflation, and several countries still faced double-digit rates. Decline in North American inflation partly due to easing food prices and softer demand.
Shipping sources report three Australian sugar cargoes totaling 39,000 to 1040,000 tonnes were sent from Maukay between December 30 and January. They deny a fourth cargo booking as of now and say Australia has enough supply to meet Chinese orders.
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