Profit of some $14 billion expected at Bundesbank

Article Abstract:

Bundesbank, the German central bank, is going to post a profit of 25 billion marks for 1997, mostly due to the expected rise in the valuation of its dollar reserves, according to analysts. The bank's profit was at roughly 9.4 billion marks in 1996, when its dollar reserves were valued at 1.362 marks, the lowest historic Frankfurt fixing. For its 1997 reports, analysts expect Bundesbank to use an estimated 1.55-mark dollar fixing. Approximately 90% of its reserves are estimated to be held in dollars.

Comment:

Bank to post profit of 25 bil marks for 1997, mostly due to expected rise in valuation of dollar reserves, analysts say

Banking Institutions, Depository Credit Intermediation, Banks (Finance), Deutsche Bundesbank, Article

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DaimlerChrysler Predicts 4% sales rise

Article Abstract:

DaimlerChrysler AG predicts a 4% increase in sales and operating profit in 1999, from 131.8 billion euros in 1998 to 137 billion in 1999. The company is trying to quell rumors of discontent in the excutive ranks of the newly merged companies, since several senior managers have left the company. The Chrysler car company contributed most to the profits, gaining 4.2 billion euros, while the Mercedes-Benz unit gained 1.9 billion.

Forecasts, trends, outlooks, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Personnel administration, Forecasts and trends, Automobile industry, Daimler AG

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