Deutsche Telekom slowed by competition

Article Abstract:

Deutsche Telekom AG of Germany has announced plans of aggressive rate cuts to counter its unchanged revenues in the third quarter of 1998 that the former monopoly attributed to increasing competition in the countyr's liberalized telecommunication industry. The company reported flat sales at 16.76 billion marks despite a 31% increase in net profit to 1.05 billion marks ($635.1 million). Telekom's rivals that include MobilCom AG, Mannesmann Arcor and Otelo, the joint venture of Veba AG and RWE AG, gained a big share of the long-distance market with their lower rates when Germany's telecoms market was opened to competition in early 1998.

Comment:

Reports flat sales at 16.76 bil marks despite a 31% increase in net profit to 1.05 bil marks or $635.1 mil

Germany, Sales, profits & dividends, Marketing procedures, Wired Telecommunications Carriers, Telephone Communications, Telephone services, Deutsche Telekom AG, Article

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ING is facing turmoil in Mexico

Article Abstract:

A court in Mexico has put a freeze on ING Groep N.V.'s bank accounts and ordered the arrest of 13 current and former employees. The ruling is forcing ING to find new ways to provide funding for its Mexican operations.

Legal issues & crime, Mexico, Legal/Government Regulation, Company legal issue, Cases, Insurance industry, ING Groep N.V.

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EU foreign ministers to weigh adding Hamas to terrorist list

Article Abstract:

The European Union's foreign ministers are considering placing the Hamas Palestinian group on its list of terrorist groups. Holland and the United Kingdom are leading the charge to place Hamas on the list.

European Union, Terrorists, Palestinian Arabs, Hamas (Islamic Resistance Movement), Foreign ministers

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