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Jennings Capital Raises Fortress Paper Target
Russell Stanley, analyst at Jennings Capital Inc. rates Fortress a “buy,” and has raised his one-year target to $22 a share from $14.50. Fortress Paper Ltd., which makes security and other specialty papers, with mills in Switzerland and Germany expects to have sufficient financing to complete the rebuild of its PMI machine, which is the “cornerstone [...]
Seven interesting intricacies of Asian currency
All banknotes are intricately designed with particular pictures, security features and unique stories. This article posted on CNNGo.com takes a closer look at seven of the most interesting intricacies of Asian currency. Funny money: The wacky world of Asian currencies by La Carmina @ CNNGo.com #1- India: Thumbs-up and peace sign rupees India’s one-rupee coin has an image of [...]
North Korean won plunges in value
Nearly a month after North Korea redenominated its currency at a rate of 100 to 1 (read North Korea changes currency and rates 100 to 1), North Korea changes currency and rates 100 to 1), its international value has also begun to plunge. Reports from South Korea’s Yonhap news agency this week stated the new North [...]
Czech National Bank Says “No” to Ads on Banknotes
In what may seem like an obvious decision, the Czech National Bank (CNB) has declared placing ads on banknotes “unlawful.” The statement stems from what was supposed to be a one-off gift of sorts from a Czech company called Vedici to its employees. As a unique way of congratulating its employees upon the completion of [...]
Indian charity issues zero rupee banknotes
Fifth Pillar, an Indian charity that confronts corrupt officials, has issued a zero banknote as a way to protest ongoing bribery and extortion in the country. The notes have no value, but look identical to Indian banknotes and carry the slogans “Eliminate corruption at all levels” and the pledge “I promise to neither accept nor give [...]
FORTRESS PAPER ANNOUNCES APPROVAL OF INITIAL FINANCING FACILITY FOR PM1 REBUILD
Fortress Paper Ltd. (www.fortresspaper.com) announces the signing by its wholly‑owned subsidiary Dresden Papier GmbH (”Dresden”) of a factoring agreement of Dresden’s accounts receivables with GE Capital Bank AG (”GE”) in connection with the rebuild of PM1 into a banknote machine. The factoring facility is for up to EUR 12 Million (CDN $17.8M) commencing February 2, [...]
“Counterfeiting, A Three-Part Series.” Part 2: The evolution of anti-counterfeiting measures
*This article is the second in a three-part series on counterfeiting. In the world of currency, developing anti-counterfeiting measures have always followed the emergence of counterfeit banknotes and coins, and they have taken on many different forms. As seen in the previous article in this series, (read: Part 1: A History of Counterfeiting), one of the earliest [...]
REPORT ON BUSINESS: “Turning paper into cash”
Fortress Paper was covered today in the Globe and Mail’s Report on Business. Dave Morris reports on Fortress Paper: At a 125-year-old factory in the shadow of the Swiss Alps, veteran watchmakers, trusted for their keen attention to detail, pore over the drums that will embed detailed watermarks into pristine sheets of paper stock. But not [...]
Uzbekistan Debit Woes Highlight Continual Need For Banknotes
A move to reduce the amount of banknotes used in everyday transactions in Uzbekistan has hit some rather large setbacks, at times leaving people with no cash in hand at all. The central-Asian country recently launched a campaign to push the use of debit cards as a more convenient way of conducting transactions, with the government [...]
Counterfeit Polymer Notes Hit Nigerian Markets
Less than three months after Nigeria introduced a series of polymer banknotes into circulation, counterfeits are hitting the market causing panic among traders and customers, African newspaper NEXT reported on Sunday. One woman in Asaba, a town in the Niger Delta, said that over the weekend the bank rejected about 1000 naira in 50 naira bills [...]
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