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BRIEFS
WB to lend CESSl^b
KUALA LUMPUR, May 26 : The World Bank will lend US I S billion dollar to the Com monwealth of Independent States (CIS) thia year for Industrial development a senior Bank official said here, reports Reuter
This is the first such Iinan cial assistance offered by the Bank to the former Soviet republics.' Peter Nore, head of the gas and oil group In the management assistance programme of the World Bank * energy sector, said In Malaysia He said conditions would be attached to the funds but declined to elaborate.
Jobless in OECD region unchanged PARIS. May 26 The unemployment rate was unchanged ' In March at 7.2 per cent In the OECD area, remaining at its highest level since the end of 1987 after a 0.5 per cent rise over the last 12 months, the Organization for Economic Cooperation and Development said Monday, reports AFP
The Paris-based organization of leading industrial countries said that unemployment was up by 0.5 per cent in March tn Canada and Sweden, and 0.1 in Germany and Ireland. with Finland being the only member to record a de cline (one of 0.5 per cent).
Iran raises profits on bank deposits
NICOSIA. May 26 : Iran sold It had raised the annual profit paid on various types of bank deposits by about one percentage point to a maximum of 14 per cent, reports Reuter.
That rate is still less than half the interest charged at the Tehran Bazaar — between 30 and 50 per cent — and falls short of the official inflation rate of about 20 per cent.
Central bank Governor Mohammad Hossein Adell, quoted by Tehran Radio, said banks would pay 14 per cent on five-year deposits tn the Iranian year ended on March 20. up frorq the provisional 13 per cent announced last year
UK real estate firm in trouble
LONDON. May 26 The board of Mountleigh Group Plc. one of the biggest property developers In Britain, put the troubled company under the control of receivers on Monday. reports AP
Sources close to Mountleigh said the accounting firm KPMG Peat Marwick was appointed to manage the group s assets, which are estimated at about 400 million pound. They said this compares with a debt burden of roughly 500 million pound (910 million dollar)
Germany offers free space for UN bodies
NEW YORK, May 26 : Ger many is offering two United Nations agencies rent-free office space in Bonn and will pay 188 million dollar for them to move, a German spokesman said, reports AP.
The government has invited the UN Development Programme and the UN Population Fund — which have a combined workforce of 1.300 — to move in 1996, said government spokesman Dieter Vogel.
The German government is moving its main offices from Bonn to Berlin throughout the !99Os as a result of the reunification of East and West Germany.
Kuwaiti Chamber goes to polls
KUWAIT. May 26 : Kuwaiti businessmen began voting in chamber of commerce elections widely seen as a dry run for general elections In October. reports Reuter.
The election is the first of any kind In Kuwait since Western and Arab forces drove Iraqi troops out of the emirate in February last year.
More than 16,000 people, one-fifth of the total Kuwait electorate of 80,000, arc eligible to vote for the new chamber of commerce board. Both government and opposition have campaigned vigorously ahead of the vote.
Total-Komineft drilling accord
MOSCOW, May 26 : The French oil group Total and the Russian firm Komineft have agreed on plans for joint exploitation of two oil deposits in northern Russia. Itar-Tass news agency reported on Monday, reports AFP.
Under the accord. Total will invest one billion dollar In technical equipment for ex-ploitatlon of the deposits at Kharyaginsk. located in the autonomous region of Nentski near the White Sea.