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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Feb 03, 1975
Page
3
Michigan National Bank cut its prime lending rate to 8.4 percent effective immediately, first drop below 9 percent since last March, signaling possible lower terms for smaller loans amid its $1.3 billion asset base in Lansing.
Soviet Foreign Minister Andrei Gromyko arrived in Cairo on a mission to restart Geneva peace negotiations. He met with Egyptian officials after talks with Hafez Assad and Yasir Arafat in Damascus and signed aid deals for Syrian irrigation and fishery projects. He called for Israeli withdrawal from occupied Arab lands and a negotiated settlement, while noting Kissinger’s planned visit to push proposals. Sadat welcomed the move and warned against accepting separate settlements without broader agreement.
Sugar prices fell in January 1975 as refinery supplies built up, helping cut the typical family grocery bill. An Associated Press market basket survey of 15 items across 13 cities shows seven cities with lower bills, six with higher, averaging a 3 percent decline and 1 percent rise respectively, yielding an overall near 1 percent drop for January.
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