Word: tradings
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Dates: during 1980-1989
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Money laundering is not a crime in Switzerland unless it can be shown that the cash flows from criminal activities. Yet Switzerland is a magnet for money launderers because of its legitimate multibillion-dollar trade in foreign bank notes. As much as 3,000 lbs. of foreign currency arrives daily at Zurich's Kloten airport. Much of the cash represents earnings from tourism, which each country's banks exchange for local currency. Swiss authorities are investigating charges that Lebanese currency dealer Barkev Magharian, 35, and his brother Jean, 44, both of whom are now in custody, took advantage of that...
...Japanese inroads in aerospace would be a serious blow to U.S. industrial might. American manufacturers exported $26.9 billion worth of passenger planes and military aircraft and missiles in 1988, which gave the U.S. a $17.9 billion surplus in aerospace trade. These were precious exports, considering that the U.S. ran an overall trade deficit of $119.8 billion last year; the gap with Japan alone was $52.1 billion. U.S. trade woes were underscored last week when the Government reported that the deficit during February widened to $10.5 billion, up 21% from the previous month. The major cause: a fresh flood of imports...
Although Tsongas is working for a solution for Massachusetts, the problem of an increasingly unqualified work force and low productivity is national in scope. The United States trade deficit remains high, even with the fall of the dollar...
India considers itself the guardian of Nepal, serving as supplier of or conduit for most of Nepal's commodities in exchange for its loyalty. Now the tiny nation with a harsh if spectacular terrain has offended its big neighbor, and India has not only refused to renew trade and transit agreements that expired last month but closed down eleven of 22 vital transit routes. Most of Nepal's necessities, including petroleum products and hospital oxygen, normally traverse these roads. Though New Delhi is permitting goods to cross the border, shortages are forcing the government to impose strict limits...
...weaponry from China, a longtime Indian rival. New Delhi regards the deal as a violation of the spirit of its 39-year-old friendship treaty with Katmandu. But Nepal seems determined to stand up to India's pressure, even if that means short-term suffering and completely revising its trade relations. Says a senior Nepalese official: "We will not give an inch...