Europe's technology outlays expected to soar even after Euro's debut Jan 1

Article Abstract:

The transition to the Euro on Jan 1, 1999 is being prepared for in typically two ways across Europe. Most banks and insurers are expected to be completely Euro-ready by Jan 1, however a large portion of the industrial sector is opting to take a more drawn-out approach in adopting the new monetary system. Rather, these companies are spending their resources on there race to be year 2000 compliant. Money spent in Europe on new systems and system fixes to be Euro compatible is expected to reach anywhere from $150 to $400 billion, with an additional $10 to $20 billion spent on fixing PC. Euro-based spending is hard to pin-point because it is often combined with Y2K spending. Analysts believe the US and the UK are unprepared overall for the Euro's introduction. However, most companies in these countries will be able to simply add the Euro as a new currency to their existing systems.

Market information - general, Technology & Information, Purchasing, Forecasts and trends, Industry trend, Market trend/market analysis, Technology

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Pakistan, IMF reach deal to free up $1.3 billion

Article Abstract:

Pakistan has reached a deal with the IMF that will result in a $1.3 billion bailout package. The U.S. had earlier imposed a sanction on Pakistan, which consequently froze the $1.6 billion IMF loans. The South Asian nation also says it expects to receive funding from multiple sources including the World Bank and the Asian Development Bank.

Foreign Aid-Loans, International Monetary Fund, International relations, Economic assistance, Foreign economic assistance, Pakistani foreign relations, Pakistan, World Bank, International economic relations, Foreign loans

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Consumer worries may halt euro-zone growth

Article Abstract:

A plunge in consumer confidence may bode poorly for the economic health of the 12-nation euro zone. The countries' unemployment rate is 8.7%, thehighest rate in 3 years. Consumer confidence in France dropped to its lowest point in more than 6 years. The European Central Bank may cut interest rates with the euro-zone inflation at 0.4%.

Unemployment, Labor Distribution by Employer, Economic aspects, Reports, Statistics, Consumer confidence, Economic lag

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