Briefs
Target lowered The Reserve Bank will lower the. dally cash target to $3O million again from today. The bank's chief manager, financial markets, Mr rfike Walsh, said the uncertainty in the domestic money market which had prompted the target to be lifted on April 27 to $4O million had now passed. The bank confirmed that the overall stance of monetary policy would remain firm to maintain downward pressure on inflation. . Subsidiary sale Kidd Garrett Holdings Australia, Ltd, has negotiated the sale of its Australian subsidiary, Scruttons, Ltd, to Tutero Pty, Ltd, of Sydney for an undisclosed sum. OPP venture Otago Press and Produce, Ltd, has announced a joint venture between their wholly owned subsidiary, Otago Press and Produce Equities, Ltd, and the U.S. firm Barringer Resources Inc. of Colorado. Barringer Resources will provide the new company with exploration services and will grant it a worldwide licence to use its patented airborne techniques for both mineral, and oil and gas exploration. Initial funding for the installation of survey equipment and operation of the aircraft will be provided by Otago Press and Produce Equities, Ltd.
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Bibliographic details
Press, 12 May 1987, Page 50
Word Count
184Briefs Press, 12 May 1987, Page 50
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