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Snippets
France to achieve economic growth
PARIS Feb 13 : France might achieve eeonamte growth of slightly more than two per cent tn 1931 and there la no need for an increase tn French interest rates to match a recent in crease In German rales French Prime Minister Michel Roca rd said on Monday reports AIT
at a high level despite the Gulf War. he told the newspaper La Tribune De L Expanstoif
Mr Rocard Criticised Germany for Increasing its key rates by half a point The Bundesbank has done the In ternational collective effort a very bad turn by Increasing Ils rates without asking the opin
China negotiating deal* with Gulf atatea
BEIJING. Feb 13 : China Is negotiating civil engineering contracts with several Gulf countries and hoping for a rapid end to the war that has already coat It hundreds of million of dollars, the China Dally said Sunday, reports AFP
If we did nothing In the Gulf region now. we would lose the chance to enter the mar ket after the war." the English language dally quoted an official from one of China’s largest I slate-run civil engineering firms as saying
Another Chinese company was negotiating with US and Japanese firms for civil engineering contracts In Kuwait and the United Arab Emirates, the newspaper said
Bankruptcies crimp suicides in Vietnam
HANOI. Feb 12
Widespread bankruptcies among Vietnam’s state run factories caused some directors to commit suicide and put others tn prison last year, the official labour newspaper's Sunday Magazine, says Reuter
State-run factories ran up debts of three trillion dong (400 million dollars ) tn 1990. it said.
It described the bankruptcies and resulting suicides and prison sentences as one of the 10 most Important economic events of 1990.
Coal industry hits a crisis point
HANOI. Feb 12 : The coal industry has hit a crisis point, here prompting thousands of layoffs. Vietnam's official Nhan Dan daily said Monday. The daily attributed the slump in Vietnam's domestic and export coal markets to poor quality coal, management's inexperience and inadequate Infrastructure. adding that 1k highlighted the lack of an energetic state policy, reports AFP
One of the three large state companies. Cam Pha. has 700.000 tonnes of unsold coal worth 100 billion dong (13 million dollars), while another company. Uong Hl. has sacked 2.300 miners
India to set up cooperative bank
NEW DELHI. Feb 12 : The Government would soon set up a National Cooperative Bank of India (NCBI). reports FH
This became evident when the Finance Minister. Mr. Yashwant Sinha said the Government would not be found wanting the necessary courage and will power to Implement the "meritorious' proposal of cooperators for NCBI.
Mr Sinha was delivering the valedictory address of a conference which was "unanimous" in demanding a NCBI.
War stalls world’s car industry
ATLANTA. Feb 12 : General Motors Corporation's chairman in Allanta said on Saturday the Gulf war had stalled the world s car Industry, further eroding consumer confidence in the recessionary US market and hurting European sales, reports Reuter.
Robert Stempel. #her-viewed after a speech to US auto dealers. told Reuters the war had hurt Middle East car sales and he hoped US firms In the region would not be hurt by lingering anti-Americanism.
The war has had a negative affect on consumer confidence. As a result, with the precipi- , tous fall-off and the confidence not being there, people are staying away from our (new car and truck) showrooms," he mH.
War stalls world’s car industry
ATLANTA. Feb 12 : General Motors Corporation's chairman in Allanta said on Saturday the Gulf war had stalled the world s car Industry, further eroding consumer confidence in the recessionary US market and hurting European sales, reports Reuter.
Robert Stempel. #her-viewed after a speech to US auto dealers. told Reuters the war had hurt Middle East car sales and he hoped US firms In the region would not be hurt by lingering anti-Americanism.
The war has had a negative affect on consumer confidence. As a result, with the precipi- , tous fall-off and the confidence not being there, people are staying away from our (new car and truck) showrooms," he mH.