Reported by Star-Bulletin staff & wire
Thursday, May 21, 1998
State plans Ewa ferry demonstration project
The state Department of Transportation is looking for operators to do a ferry demonstration project from Leeward Oahu to Honolulu, using $4 million in federal transportation funds.A request for proposals will go out in the first half of June, said Julia Tsumoto, head of the department's transportation planning office. Exact routes are yet to be determined.
She said the demonstration would be for three weeks or a month, possibly in October. The state wants a vessel to carry 100 to 150 passengers, she said.
The demonstration would test commuter routes, a possible shuttle service and potential for commercial voyages during off-peak times.
Mortgage rates decline to 7.1%, a six-week low
WASHINGTON -- The average rate on 30-year fixed-rate mortgages fell to 7.10 percent this week, a six-week low, Freddie Mac, the mortgage company, said today. The decrease was from 7.19 percent last week.Fifteen-year mortgages, a popular option for refinancing, fell from 6.82 percent to 6.75 percent, also a six-week low. On one-year adjustable-rate mortgages, the average initial rate was 5.70 percent, down from 5.71 percent the previous week. The rates do not include add-on fees known as points.
Japan's central bank lowers economy rating
TOKYO -- Japan's central bank today downgraded its assessment of the nation's ailing economy, saying the cycle of output, income and spending has turned negative and downward pressure is strong.But Bank of Japan Gov. Masaru Hayami said the economy has not entered a deflationary spiral.
He said the bank's policy board will maintain its current easy monetary policy stance.
Airlines say tomorrow to be busiest day ever
WASHINGTON -- The airline industry expects tomorrow to be the busiest day in aviation history.More than 2 million people are expected to take off for the start of the Memorial Day holiday, and more than 12.5 million people are expected to fly over the seven-day period ending next Tuesday, the Air Transport Association says.
See expanded coverage in today's Honolulu Star-Bulletin.
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