Reported by Star-Bulletin staff & wire
Thursday, December 4, 1997
Isle conference to look at improving China
More than 90 officials from China will be in Hawaii next week for a Department of Business, Economic Development & Tourism seminar on innovative ways to finance projects to improve their country's infrastructure.Titled "Hawaii as a bridge for economic cooperation between China and the United States," the seminar will also be open for two of its four days to local organizations at $100 a person. Contact DBEDT at 587-3838 for information.
Attending from China will be project planning and financial officials, attorneys and judges.
Tiffany to open store at Hilton Hawaiian Village
Tiffany & Co. will open a new store later this month at the Hilton Hawaiian Village.The jewelry and accessories store of 864 square feet will be on the ground floor near the Tapa Tower lobby.
Tiffany already has stores at Ala Moana Center, the Sheraton Moana Surfrider Hotel and Whaler's Village in Kaanapali.
Thirty-year mortgages drop to 7.15 percent
WASHINGTON -- U.S. mortgage rates continued to fall this week, reaching their lowest level in more than a year.The average rate on a 30-year, fixed mortgage fell to 7.15 percent this week from 7.17 percent last week, according to a weekly survey by the Federal Home Loan Mortgage Corp., known as Freddie Mac. That's the lowest since the week ended Feb. 16, 1996, when rates on a 30-year mortgage averaged 6.94 percent. Freddie Mac also reported the average rate on an adjustable mortgage inched up to 5.50 percent from 5.47 percent last week. Fifteen-year mortgage rates, meantime, fell to 6.71 percent from 6.73 percent.
In other news . . .
NEW YORK -- Sewing machine maker Singer Co. is eliminating nearly 6,000 jobs or 28 percent of its work force and plans to close an undisclosed number of plants and retail outlets in a move to become more competitive. The company plans to shift factories to lower-cost locations.