Commenting on the quarter, Douglas Baker, Jr., Ecolab's chairman and CEO said, "First quarter earnings were in line with our expectations as solid fixed currency
sales gains and operating margin expansion helped drive double-digit adjusted diluted earnings per share growth.
They are effectively US dollar purchasers owing to the fixed currency
At the weekend, the judiciary, legislature and government approved plans by the Central Bank of Iran to strictly limit access to official fixed currency
rates to essential imports.
The fixed currency
would ensure a predictable and stable economy by avoiding sudden and uncontrolled price hikes by importers on the pretext of fluctuating currency rates, much to the relief of the common man.
Reportedly, this grant is subject to performance targets related to revenue growth and accumulated EBITDA over the period of 2018 to 2020, measured in fixed currency
. A compound annual growth rate in revenue of 10% and a minimum aggregated yearly EBITDA margin of 34% are required to release all stock options.
Hotels were also faced with a strong US Dollar impacting Dubais global price competitiveness due to the fixed currency
peg with the UAE Dirham, partially mitigated by price corrections as hotel average daily rates (ADR) declined 4% in 2017 to maintain affordability vis--vis other tourism destinations that said, net prices still increased by approximately 10% from 2013 to 2017 for most global consumers, but delivered 30% increase in guest traffic at paid accommodations demonstrating strong resilience.
This fixed currency
supply doesn't allow for economic growth, and the only way to accommodate more transactions would be with deflation; if prices drop, the same currency supply can accommodate more transactions.
This card delivers a more secure experience for clients when they are travelling and gives them the peace of mind that they have a fixed currency
exchange rate on all international spends," Suvo Sarkar, Senior EVP & Group Head, Retail Banking & Wealth Management at Emirates NBD, said.
The forwards market is pricing in a devaluation, it is pricing in a move away from fixed currency
Central banks face an impossible trinity or trilemma: they cannot maintain an open capital account, fixed currency
and independent monetary policy.
Second quarter 2014 sales for the global industrial segment, when measured at fixed currency
rates, rose 3% to $1.2 billion, led by water.
Since early 2013, the country has faced food shortages, high inflation, and pressures on fixed currency