Word: state-run
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...Saudi Arabia, where ISC won a $106 million contract to design and build a desalination plant, the SEC charges that the company paid Adnam Samman, then vice governor of the state-run Saline Water Conversion Corp., $3.5 million. To pick up a $50 million contract for a sugar processing complex in the Ivory Coast, ISC paid Gilchrist Olympic, son of a for mer President of Togo, more than $1 million and gave him a new Lincoln Continental, the SEC says...
...fears of a repeat of 1971-72, when similar incentives from the Conservative government of Edward Heath merely produced property speculation, a record low in productive investment and an inflationary consumer boom. The Tories have claimed they will provide some of the money by allowing private investment in state-run industries--but this ignores the fact that most state enterprises were taken over by both parties in the past not because of socialist zeal but because private enterprise had failed to run them profitably. They are hardly a good risk for capitalist investors...
...game fishing, hotel room and rental car for seven days for $360, and a wine tour that takes the visitor through the vineyards to the great port houses of Oporto. The best way to see the country is to rent a car and stay at the attractive, state-run pousadas. Some of them are in modernized medieval buildings and cost around $27 a day for double room and bath. One of the handsomest, Pousada dos Loios, is in the south central town of Évora, famous for its Roman ruins and Moorish architecture. At some seaside villages the visitor...
...state-run National Iranian Oil Co. was just beginning to restore normal production when hit by Monday's job action...
...Some states have slapped extremely high taxes on liquor and created state-run monopolies to sell it, at a stout profit. A prime example is Pennsylvania's Liquor Control Board, which has become the nation's biggest buyer of alcoholic beverages (last year's total: 11 million cases, worth $280 million wholesale). Before a bottle of liquor goes on sale at any of Pennsylvania's 750 "state stores," the board jacks up the price 48% for its own profit, then adds an 18% "emergency" tax levied decades ago to help victims of the 1936 Johnstown flood, and finally tacks...