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Iraq fail, top^ German export*™ BONN Jen M Iraq he* UlIrr! to p«y Orman exporter* 2 5 billion Owlwbe Mark* (1 60 billion DoNorsI rrlMbk •ourcea said Thursday reports AW
The money to owed from 8 3 Mark* (5 6 bilhon Dollar.)
August 6 embargo on trade declared by the U nMed Nations Security Council. they said
The exporters will be ■tadowned Export Credit Guarantee agency sold
ADBaMfarM
MANILA. Jon 28 . The Aston Development Bank (ADB) Thursday approved » 41* mtl-llon Doltor. Interest-free loan want Sires! cover. the Manila
report.* AFP
The bank also approved a 5.80 000 Dollar technical assistance grant lo support the project
Only four per cent of the country's total land area to forest. far below thr 20 to 25 per cent considered essential by the government for balanced economic growth and env1 ronmental stability, the ADB said
The k>an will be amortised over 35 years including a 10-year grace period at an annual rendmetarrofone per cent. I Iran denies shipping
Thai rice to Iraq
BANGKOK. Jan 25: Iran has denied shipping Thal rice to Baghdad. Deputy Foreign Minister Charat Puachuay said Thursday, reports AFP.
Mr. Charat said the dental came from the Iranian Embassy here after a focal press report alleged that Iran recently increased Its rice pur chases from Thailand in order of syphon them to Iraq, which Is suffering from UN Imposed economic sanction*.
Iranian officials here said "the report Is groundless and not true It Is Thailand which persuade* them to buy more rice." Mr. Charat said
Iran purchases 3.00.000 to 4.00.000 tonnes of first grade rice from Thailand every year.
Mahathir bid to counter western trade blocs
KUALA LUMPUR. Jan 25: Prime Minister Mahathir Mohamad Wednesday said Malaysia hoped to convene a Ministerial meeting this year to launch an East Asia Economic Grouping (EAEG) to counter Western trade blocs, reports AFP.
He said that the Malaysian proposal floated late last year had already received support from Singapore. Thailand and the Philippines after visits by Malaysian International Trade and Industry Minister Rafidah Aziz.
Dr. Mahathir told a news conference that Malaysia was seeking support for the EAEG from Its immediate neighbours first and would follow this up by talks with other Asian countries It felt should Join the grouping
China'* shipbuilding industry gets a boost
BEUING. Jan 25: Chinas shipbuilding Industry exported vessels totalling 1.33 million DWF.'durtng the Seventh Five-year Plan period (1986-1990). nearly double the amount during the previous five years, reports Xinhua.
Its export value amounted to 2.3 billion US Dollars, almost twice that of the sixth seven-year plan, the People's daily' reported Thursday.
Statistics from the Chin* State Shipbuilding Corporation (CSSC) show that the whole industry completed 162 ves seis with a total of 032.000 DWT in 1990. The CSSC khu received new ship orders for more than 1.2 million DWT last year. Of the order* 452.000 DWT were lo b< completed for foreign buyers.
In addition, the CSSC also completed 710 million Yuanworth of ship repairs in 1990 L't paper reported.
Demand -xMiring for insurance
NEW YORK. Jan 25 : Demand lias been soaring among businesses for insurance that covers employees against terdent* since US-led forces opened war on Iraq one week ago. report* AP
At the same time premium* for the coverage, considered essential for overseas business
trips these days, has increased dramatically, insurers said
But as the Oulf conflict unfolded into ft* second week, the pricey insurance filled a sorely growing need created by limitations tn the most available poHcle.
Most travel policies sold tlnoiigh travel s^nts and Insurance brokers.