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Venture-backed IPOs rise in '04
Led by Google, 93 IPOs raised $11 bil. That blows the $2 bil collected in 2003's 29 deals out of the water. The tech sector led the way with $6.6 bil. Life science firms collected $2.4 bil. Nonhigh-tech firms garnered $2 bil, said the survey from Thomson Venture Economics and the National Venture Capital Association. Most of the year's IPOs began chasing cash during '97-'00.
Turkey meets IMF inflation goal Inflation was 9.32% in '04, far below the 12% goal set by the IMF. Turkey appears to be finally making headway in its long fight vs. inflation. After missing IMF targets 17 times, the news bodes well for a $10 bil aid deal signed in Dec. On Sat., Turkey launched the new Turkish lira. 1 new lira equals 1 mil old lira.
** Reuters' Eurozone Purchasing Managers Index rose to a seasonally adjusted 51.4 in Dec. from 50.4 in Nov. Analysts expected 50.3, just above the boom-bust 50 mark. The data shows an expanding economy, better employment and less inflation pressure.
** The ...