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Business Briefs
ADB grant for Pak project
The Asian Development Bank (ADB) said here Saturday that it had approved a 600,000 dollar technical assistance grant to finance a study of Pakistan s hydrocarbon sector, reports AFP from Manila.
The grant will go to implementing a petroleum policy through in-depth studies to promote the development of the hydrocarbon sector, the Manila-based ADB said tn a statement.
The Ministry of Petroleum and Natural Resources will be the executing agency for the grant.
OPEC meet in January likely
An emergency OPEC meeting is possible next month if world oil prices continue to fall. Indonesian Mines and Energy Minister Clnanjor Kartasamita said Friday, reports AFP from Jakarta.
"An emergency meeting such as proposed by Algeria could be held in January 1992 if, prior to that, all sides are convinced that the meeting will yield a result,' he said, quoted by the Antara news agency.
Taiwan’s loan to Bolivia :
™w«n wui^d Bolivia 25 million US dollar for economic development thc Foreign Ministry said Saturday, reports Reuter
It will be the first loan since Taiwan broke diplomatic ties with Bolivia after it switched recognition to communist Beijing In 1985. In October 1990 Taiwan set up a trade office In Bolivia to strengthen relations.
Chinese can receive remittances :
Chinese citizens will be allowed to receive cash remittances from overseas by post for the first time In 39 years beginning in May. the China Daily newspaper reported Saturday, says AFP from Beijing.
It said there would be no limit to the amount of hard currency Chinese could accept from abroad. Similarly, visitors to China and Chinese would be allowed to send cash overseas.
The service, discontinued in 1953 for political reasons, would open firkt for Japan, the United States and Hong Kong, which will also handle remittances from Taiwan.
ROK to ask Russia for aid repayment:
The South Korean government will request the Russian Federation lo take over the repayment guarantees for a three billion-dollar economic aid package promised to the former Soviet *fn4°nil«r l°P °mClal *ald ln ®eou' Saturday, reports
The South Korean Finance Ministry will ask an export lm . port bank and a "development bank to. write official tetters lo the former Soviet bank to express their demand, said Lee Hwan-Kyun, South Korean Planning and Management' Director-General.