Tuesday, June 30, 1998
Clarity matters
The story of Bill Clinton's visit to China is the story of the triumph of US business interests. At the time of the cold war, it was geo-politics which was the catalyst for Nixon's path-breaking overture to the People's Republic. This time around, the lure is plainly that of the Chinese market, although containing Russia certainly continues to be a secondary objective.
Slippery prices
Saudi Aabia's oil minister, Ali Ibrahim Niami, has said that oil producers other than the Opec members will guide world oil prices. This statement can be directly construed as an admission of the inability of Opec to control world oil prices in spite of two big cuts in oil production.
Hitech Drilling justifies uptrend
For the first time since the company was launched, Hitech Drilling has almost everything going for it. All its productive assets are being fully utilised simultaneously and earning returns at record levels. Earnings are in foreign currency and with the rupee depreciating it stands to gain additionally.
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