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Business Briefs
Russia bank has HO reServe
The Russian central bank has only two days of currency reserves with which to meet its needs, Interfax news agency said Saturday quoting bank Chairman Georgi Mattyukhin, reports AFP from Moscow.
It said he was speaking Saturday lo the presidium of the Russian parliament. According to Matiyukhin. the bank had been short of 12 billion rouble for the month of December.
India ponders rupee-rouble relation
India Is studying various options on the future pattern of trade and continuation of the rupee-rouble arrangement, following the disintegration of the Soviet Union and formation of the Commonwealth of Independent States, reports PTI from New Delhi.
The ministries of finance and commerce are currently engaged In an exercise to assess the impact of the fast paced developments In the past few weeks on Indo-Sovlet trade and the existing commercial tie ups.
PIA inCUrS $ 47m loss
Pakistan International Airlines (PIA) suffered an operating loss of 117 million rupee (4.68 million dollar) despite a 10.3 per cent increase in revenue during the year to June 30. airline officials said, reports AFP from Karachi.
Presenting the airline's audited annual report. Managing Director Nawaz Tlwana promised a return to profitability by the end of the current fiscal year next June, despite industry estimates that airlines will lose an estimated four billion US dollar in 1991.
WB gives $15m to Pak Rly:
i^k
(WB) has provided 15 million dollar to the Pakistan Railways out of a 105 million dollar loan agreed In May, the official Associated Press of Pakistan (APP) said Saturday, reports AFP from Islamabad.
The agency quoted the General Manager of the Railways, Zahoor Ahmed, as saying the released amount was being used to purchase spare parts for locomotives obtained in the past from the United Slates and Canada.
Housing scheme behind schedule :
a Bonn-funded housing programme for the huge Soviet army withdrawing from eastern Germany is way behind schedule.
1 the troops' commander said In a newspaper article published Saturday, reports AP from Bonn.
Under a bilateral treaty that helped pave the way for German unity, Bonn pledged 7.8 billion mark (5 billion dollar) to build housing for the soldiers in their homelands. Full withdrawal la to be completed by 1994.
But of 36,000 planned apartments, not* one is ready yet, Gen. Matvei P. Burlakov, Supreme Commander of the former
,n ^•tern ^""any. wrote in the Bonn-based Tjsssysirreceive 2,000 apartments soon," Burlakov wrote. J™ xv