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Business Briefs
UAE central bank assets rise 15pc:
The United Arab Emirates (UAE) central bank recorded a 15 per cent increase tn its assets tn 1991, the official news agency was reported Monday, says AFP from Abu Dhabi.
It quoted a central bank report as saying assets stood at 20.1 billion dirham (5.74 billion dollar) tn the same month of 1990.
Squibb opens plant in Russia :
ihc Bristol Myers Squibb Co reached out to Alling Russian hearts Monday and opened Its first pharmaceutical plant in the former Soviet Union, reports AP from Mupavna. Russia.
The world’s third largest pharmaceutical firm and the Russian-owned Akrtkhin factory are to manufacture two of Bristol-Myers Squibb's top cartiiovascular medicines — Capoten and Corgard — at the plant 36 kilometres west of Moscow.
The US-based firm invested five million dollar in its Akrtkhin facility, where it hopes to produce more than 100 million tablets a year.
High tax angers westerners in Russia :
Westerners working in Russia are howling in protest over a new income tax law laying claim to 60 per cent of their earnings. Some are threatening to go home, reports AP from Moscow.
The new Law on Taxation of Individuals' Income applies to all foreigners who live In Bussla more than six months of the year, and whose worldwide Income Is over 420.000 rubles (3.500 dollar at the current exchange rate).
Lebanese strike against price hike:
a wave of strikes swept southern Lebanon Tuesday to protest high prices and the worst economic crisis to grip the nation in 48 years of Independence, report* AP from Sidon, Lebanon.
Police said people took to the streets shouting anti government slogans shortly after local radio stations reported that the Lebanese pound had dropped to an all-time tow of 2.100 to the dollar in the Beirut money market.
S Africa's gold output up :
south Africa s gold output increased 3.03 per rent tn March to 51,410 kilograms from 49,894 kg in February, the Chamber of Mine*, representing the major mining house*, said Monday, reports AFP from Johannesburg.
The March total. Including non members of the chamber, was 0.62 per cent down on the 51,731 kg produced In March last year.The cumulative total for the year was 149,937 kg up 1 86 per cent on the 147.145 produced by the end of March last year.
Somalis receiving wheat :
soman* on Monday began delivering 6.000 metric tons of whole wheat from a UN boat docked at Mogadishu * newly reopened port, a UN official said, reports AP from Nairobi
Before 11.650 tons of food from the International Committee of the Red Cross arrived last week, the seaside city of an estimated 1.2 million had nol had any major food Imports since clan warfare erupted Nov. 17