Word: discount
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Dates: during 1980-1989
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...present rebate system has been in operation for "at least 50 to 60 years," said Argeros. He explained that members cannot receive the rebate in the form of a direct discount on goods because the percentage cannot be determined until after the purchases for a particular period have been accounted and profits determined...
Despite a high volume of sales of both the Apple and DEC computers in the past few months, Harvard accepted the IBM deal to give customers more options and because "IBM offered a better discount than ever before," Towler said...
Saudi Arabia has always considered itself the model of prudence and self-control among the 13 nations that make up the Organization of Petroleum Exporting Countries. When one of the other members threatens the group's strength by producing too much crude oil or selling it at a discount, the Saudis are usually the first to scold. Thus Saudi Arabia has perplexed the global oil industry this summer by boosting its output by 1 million bbl. a day beyond the country's voluntary quota of 4.5 million bbl. The extra crude has aggravated the world's surplus...
Hard economic realities have contributed to Tehran's apparent change of heart. Iran suffers from a serious balance of payments deficit. The country has had to discount its oil prices by between $2 and $5 per bbl. in order to lure tankers into gulf waters. Members of the Genscher delegation who had visited the Iranian capital before the revolution noticed a decline in the standard of living. Buildings that had been under construction five years before stood half finished...
...economic precipice. Its currency reserves could cover only two months of necessary imports. The lira was plummeting. External credit had dried up. Dramatically, official foreign exchange markets were shut down for five weeks. When they reopened, the government imposed tight restrictions on imports and credit and raised the discount rate 4 percentage points to stem runaway speculation against the lira-all in close cooperation with the IMF. A year later, the fund granted Italy a $530 million stand-by loan, thus opening the door to commercial credit markets. Within four years, Italy's reserve holdings were among the healthiest...