India Devalues Rupee After Year of Crisis
India devalued the rupee after a prolonged crisis affecting foreign exchange. The government shifted from 13.33 rupees per pound to a new rate, with the Australian dollar at 4 rupees, citing heavy famine imports and a weakened external debt position. The move aims to revive foreign exchange reserves and attract investors and tourists, while export duties on tea, coffee, jute, hides, cotton, and wool were raised to steady prices.
MENTIONED IN THIS ARTICLE
Tne
AEST
Pakistan
India
International Monetary Fund
Choudhuri
Devaluati
Bank Rate Seen Rising to Seven Percent in UK this Week
London reports many bankers expect the Bank of England rate to climb to 7 percent this Thursday with a tougher government credit squeeze possible. Market watchers note potential sterling outflows and prepare for swift action if needed. British investors have been pouring funds into foreign shares amid the pull on reserves tied to the seamen's strike and emergency measures.
MENTIONED IN THIS ARTICLE
London
Daily Mail
Mail
New York
Any
de Beers Thiaends
Hudsons Bay
Bowaler
British Tobacco and AMF restructure asset deal
British Tobacco and AMF revise stock terms and plan to exchange or sell assets. Agreement covers AMF Aust factory at Northmead NSW and a 90,000 square foot facility as part of the change. Net Moldex Ltd profits drop. Farmout Drillers bids withdrawn after failed sale. rights offered to existing shareholders at $12.50 per 100 shares.
MENTIONED IN THIS ARTICLE
Premium Foundry Co
Aust) Ltd
Oor
British Tobacco
AMF
Northmead
Nsw
May marks a turning point in Australia exports
Imports eased from a peak of 280.4 million in September, with March aided by the HMAS Perth arrival costing 38.9 million. Excluding that, March imports were 241.8 million, while April and May stood at 225.7 and 222.9 million respectively. Exports fluctuated, peaking at 240.5 million in November and rising modestly lately, signaling a potential upward trend tied to higher prices for wool, meats, and hides and a recovering trade balance amid better global demand.
MENTIONED IN THIS ARTICLE
Wikely
United States
Palmer debt written off by Kelvinator AMF tie up
Kelvinator Australia Ltd writes off 259,378 dollars owed by H. G. Palmer organisation. AMF to assume control of AMP Australia with Finnl-Ish Tobacco keeping a minority stake. AMP Aust to focus on forming and developing ten pin bowling in Australia. ARC Industries to issue 3 million debenture stock, with both shareholders and note holders registered by June 24.
MENTIONED IN THIS ARTICLE
Sydney
Kelvinator Australia Ltd
H. G. Palmer
AMF
AMP
Finnl- Ish Tobacco
Australia
Snort
Ausi
ARC Industries Ltd
Gollin Halinms uid sales fall in half year to February
Gollin Halinms uid reported a half year to February drop in sales though profit remained steady. The board announced an interim dividend of 43 percent payable on June 30 with banks closing on June 21. Reconstruction of Anglo Pacific Securities Ltd would be considered later, said official manager A. H. Smith at the annual meeting, noting past losses depend on restraint.
MENTIONED IN THIS ARTICLE
Amere
Preference Divi
Tohac
Wack Carco
Sterling Machinery Plus
Apd
Combustion Australia
Com-Lin
Gollin Halinms Uid
Anglo Pacific Securitie
Lid
A. H. Smith
Directors Seek Higher Fees Amid Capital Plans
The annual report notes no need to increase the doubtful debt provision as bad debts declined to 277,612 by March 31. Directors propose raising chairman pay to 4,000 and other directors to 2,500 annually, with fixed fees replacing previous proportional allocations. Shareholders will vote on the scheme to fix directors' remuneration.
MENTIONED IN THIS ARTICLE
Hasl Ycar
Pag Cone
Onverseas
H. G. Leroeds
Rollin
Palmer
Tual
Bolte eloquence as salesman shocks British finance chiefs
The Daily Telegraph diarist reports Victorian Premier Sir Henry Bolte in London to urge British investment in Victoria. Critics say Australia draws money from the sterling area, and Chancellor Callaghan may find Bolte’s appeal more persuasive than his own.
MENTIONED IN THIS ARTICLE
London
Mr Callaghan
Sir Henry Bolte
Daily Telegraph
Sir Henry
Londor
Victoria
Sterling
Australia
Henry
Congo railway deal could shift Zambian copper routes
Zambian Commerce Minister Justin Chimba announced a Congo accord to carry about 60 percent of Zambia's copper via new Congo Benguela rail lines, aiming to ship up to 38,000 tons monthly through Matadi and Dar es Salaam, reducing reliance on Rhodesia routes now strained by freight charges.
MENTIONED IN THIS ARTICLE
Leqpolpville
Aap-Reuter
Justin Chimba
Congo
Zambia
Rhodesia
Mozambique
Chimba
Europe
Lohito
Angola
Matadi
Dar-es-Salaam
Tanzania
Surplus in May After 21 Deficits
The May statistics show a favourable balance despite 21 deficits in the period to May. Imports were valued at 2,399.2 million, while exports reached 2,067 million. A lower import bill and rising exports contributed to the positive balance, with May figures reflecting changes from the previous year.
MENTIONED IN THIS ARTICLE
Commonwealth
Archer
Ewing
BHP leads Sydney trading as prices rise and mining stocks surge
Sydney stock exchange activity shows a 55 88 high for BHP and a heavy turnover in mining and oil shares. Woodside and Ampol show mixed movements with mid-eastern contributors and planet shares inching higher. Western mining closes at 51 and CSR slips to a yearly low of 2 73 as Pioneer and Millaquin gain while bonds turnover hits 6 156 810.
MENTIONED IN THIS ARTICLE
of General CH Aust
Millaquin
AOD
Adams Weaete
Amalgamated
Mindrill
Cranld
Minster
Aldershot
Dalgety
Interstate Oil Allied Mills Dalton
Wiger
Tb Davis Gel
Newbold
Longreach
EL Industries Peko
Planet
Petersville
Fielding
Mines Ass Rurl
Rich
AH South
Yy Fm G'tee
Ty Rushcutter
CMI
Aus Gas
Construt
Gen Pblis
Jelels
Gibson
Great Boulder
Hank AD
Harris K
Steel Mills
Brad Br
Hordin A
Ny Tooth
Tulloch
Westfield
North
Vatoken Ual Carp WR
Jaywoth
Cig
Carpel M
LNC
Weston
VAM
Calee GI
Larke
Whale “Ind
Western Mining Comensioom Macgrade
W Combe
Sydney
BHP
Sydney Stock Exchange
Woodside
iMce
Sfic
Ampol
Western Mining
Efr
CRA
Mount Isa
North Broken Hill
CSR
Pioneer
Gibson and Howes
Also Mentioned on This Page
World Bank
Cell
National Gas Turbine Establishment
Pyestock
Hampshire
Olympus
Indexes
RSG
AK Walaa
Ober Finance Anak Azo
Perrauig Metals Fao
Espite Ene
Bank of Adelaide
Commercial Banking Company of Sydney Limited
Stock Exchanges
Jolor Underwelterss
A. BS. White & Co
Pring Dean & Co. O
Sydney Stock Exchange Limited
the Mutual Acceptance Company Ltd
London Circuit
City
Badham Street
Dickson
Canberra
the National Cash Register CQ. Pty. Ltd
Moldex Ltd Plastic Products Maker
Es Jlmmonnal
Peter Long
Economicc
Lion
I. Combustion
ARC
Gollin
Anglo Pacific
Cat Assoc Securities
NAUC
Ike
Nim
Bolte
New Zealand
Liouner
New Zealand Information Service
Main
Mle
Adil Conguip
Mauri Bros
Ty Coliess
McDonalc
Santos
Dunlop Elders
Whippy
Micwellbronk Mines
Aberfoyle
Bankers
GM Kalg Rainey
Farley
L Network x
Beith J
Ncle Tv
King
Berlei
Blue Metal
Ind
F Wright
Mr Lyell
Fire Pig i
Ly Prashy
Morgan Forg
Hardie H
Reed Paner
Ay Brickworks
Gerald
Aitsa
Hecke
New Guinea
Philp
Vennyson
United Uranium Carrier
Jefiries Ten
Jones
TNT
Clark
Waltons Ts
Wester Titanium Coal
All Landmark
Waters
Williams FW General C
Winns Alliance
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