Originally created 05/14/98

Business briefs



Augusta selected for service center

State officials announced Wednesday that Augusta will be one of 11 regional service centers across Georgia designed to help local governments with economic development.

A primary factor for selecting each site was the ability to co-locate with the state's university system partners at Business Outreach Services and the Economic Development Institute, officials said.

The service centers will house two officials from the Department of Industry, Trade and Tourism and two officials from the Department of Community Affairs.

Other cities selected include: Americus, Atlanta, Dublin, Blakely, Douglas and Savannah.

Bond prices continue to rise

Bond prices continued their rise Wednesday as Asian political and economic woes drove investors to seek safety in U.S. securities.

The price of the benchmark 30-year Treasury bond rose seven-sixteenths point, or $4.38 per $1,000 in face value. Its yield, which moves in the opposite direction, fell to 5.94 percent from 5.97 percent late Tuesday.

The federal funds rate, the interest on overnight loans between banks, rose to 5.75 percent from 5.50 percent.