HOTEL AND RESTAURANTS – The grand Café de la Gare reopens its doors

Back. The grand Café de la Gare is reopening a store. This is what is announced on the social networks of this one hundred and ten year old brand. According to announcements made by the page of this century-old café, on social networks, the Café de la Gare is back, after years of absence, in the same premises, at Soarano station. In recent days, the time has come for recruitment and communication for this brand which was closed in 2019 “for renovation”. Good news for subscribers to this place with its cozy setting and metropolitan decor, a brand which has since been managed by Madarail.

The Café de la Gare is a vestige, remaining almost intact, of the first French infrastructures in Antananarivo. Although the café is, in its conception, a place to wait for the next train to this or that destination, like the Gare de Lyon or Austerlitz, the Café de la Gare Soarano has been, for years , a quiet place, far from the shackles of traffic, in the city center. Families and groups of friends shared unique moments under the vaults of this colonial architecture, transformed into a bar-restaurant. Several similar brands had to close their doors a few years ago, to name only the Ritz, Rex and Plaza Ampefiloha cinemas. Establishments left abandoned or even rented to be converted into places of worship.

Itamara Randriamamonjy

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2024-04-18 00:06:00

At the first finance ministers’ meeting held on the 17th, Japan, the United States, and South Korea agreed to “closely discuss” trends in the foreign exchange market. Photographed in December 2015 (2024 Reuters/Kim Hong-Ji)

WASHINGTON (Reuters) – Japan, the United States, and South Korea agreed to “closely consult” on foreign exchange market trends at their first finance ministers’ meeting held on the 17th.

The joint statement acknowledged the “serious concerns of Japan and South Korea regarding the recent rapid depreciation of the yen and won,” and added, “In line with the existing G20 commitments, we will continue to monitor trends in the foreign exchange market.” We will consult closely.”

“We will continue to work together to promote sustainable economic growth, financial stability, and orderly and well-functioning financial markets.”

Following the announcement of the statement, the dollar fell against the yen. 1 dollar = 154.18 yen. It has since returned to 154.32 yen, but remains below the 34-year high of 154.79 yen reached on the 16th.

The last time Japan intervened in foreign exchange was in October 2022, when the dollar was at 151.94 yen.

Helen Given, a foreign exchange trader at Monex USA in Washington, said the latest statement could set the stage for market intervention by the government and the Bank of Japan. He said: “The wording is quite strong so it wouldn’t be surprising to see some concrete movement by the end of the week.”

Finance Minister Shunichi Suzuki also held a bilateral meeting with U.S. Treasury Secretary Janet Yellen on the 17th, and told reporters that the two countries were prepared to “respond appropriately to any excessive moves.” He did not go into details.See more

Finance Minister Masato Kanda said he would not rule out any options in dealing with excessive yen movements.

Mr. Kanda declined to comment on questions about the possibility of coordinated intervention to curb the dollar’s rise.

“In the past few intervention cycles, U.S. officials (particularly Ms. Yellen) have issued statements acknowledging Japan’s motives and expressed verbal support,” said Karl Schamotta, chief market strategist at Kopay.

“From a strategic perspective, foreign exchange intervention is much more likely to be successful if it is carried out through international coordination. Unilateral intervention can help reduce volatility, but it can weaken the yen due to long-term interest rate differentials. “It’s not enough to reverse it.”

Masafumi Yamamoto, chief foreign exchange strategist at Mizuho Securities, pointed out that if the dollar/yen pair breaks above 155 yen, it is unclear whether the Japanese authorities will intervene.

With a strong U.S. economy delaying the Federal Reserve’s interest rate cuts and pushing up the dollar, authorities likely believe that unilateral intervention will have a short-lasting effect, he said.

“Together, we affirm our commitment to use and coordinate national sanctions tools to hold Russia accountable for its war against Ukraine and to target North Korea’s weapons programs,” the statement added. .

“The importance of concerted action to overcome the potential for supply chain vulnerabilities and non-market practices in other countries to harm our economy, including economic coercion and overcapacity in key sectors. It emphasizes sexuality.”

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