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BRIEFS
Pak money rates dive
KARACHI. June 1 : Rates for the Pakistan government's slx-month T-bills dived Sunday after the central bank accepted bids far bills with 4.03 billion rupees, reports Reuter.
The State Bank of Pakistan accepted bids at 12.28 per cent, down from 13.13 per cent at the previous auction, dealers said
The latest Issue (of the T bill) was being offered at around nine and 10 per cent level at the close, dealer Nabcl Waheed said. "We do not expect this outflow to have any substantial impact on the market and we believe rates are going to remain low." The interbank call rates remained unchanged al I. I /2 to 2.0 per cent
Gulf states buy
Pak Basmati rice
ABU DHABI. June 1 : Six Gulf Arab states, who form a Joint purchasing committee for rice imports, have bought 56.000 tonnes of Basmati rice from two private Pakistani firms, officials here said, reports AFP
The committee agreed tn Dubai Thursday to buy the rice for 430 dollar per tonne for delivery to Saudi Arabia, Kuwait. Bahrain, the United Arab Emirates (UAE). Qatar, and Oman.
"It is very cheap" said the committee's chairman, Tare qal-Barak. "But we could not have wrested such a deal without a joint purchase".
India's spice export hits record high
NEW DELHI. June 1 : In dia s export of spices during the 1991-92 year ending March 31 has touched a record high with the country's share In the world spices market reaching 33 per cent. According to an official press release available here Sunday. 160.567 tons of spices were exported during the year. 33.276 tons more than it) the previous year, reports Xinhua.
Tin price soars to 10-month high
KUALA LUMPUR. June 1 Tin hit a new 10-month high yesterday on the Kuala Lumpur Un market on strong overseas buying demand and supply shortage as miners refrained from selling in anticipation of higher prices, dealers said, reports AFP.
The price of tin closed at 15 53 Malaysian dollar (6.20 US) per kilo, up 10 cent (four US cent) from previous day. There seems lo be an increasing interest now from the European buyers, said a tin trader.
Estonia ready for own currency
HELSINKI, June 1 : Estonian Foreign Minister Jaan Manttski said on Sunday his country was ready to Introduce the kroon as its new currency, reports Reuter.
"Everything is prepared, everything is In placed and all exchange places are prepared and manned. Manttski told Reuters when asked if the kroon would be introduced soon. Estonia would become the first of the former 15 Soviet republics lo Introduce its own currency.
ICO agrees on new coffee deal
LONDON, June 1 : Producing countries in the International Coffee Organization have agreed on the broad outlines of a new international coffee agreement, delegates said here yesterday, reports AFP.
They added that the producers have also decided to recommend a total export quota of 62 million bags for the I first year of a new agreement-10 million less than forecast consumption.
Ukraine stops inland use of rouble
KIEV, June I : Ukraine said yesterday the use of the rouble on its territory would effectively end on July J. when the former Soviet republic starts using reusable coupons to meet al) everyday. payments, reports Reuter.
But Ukrainian Deputy Finance Minister Pavel Slipc-henko told a news conference the move did not mean Kiev was leaving the so-called rouble zone.
Australian wheat sales to Iran slump
ABU DHABI, June 1 : A wheat shortage pushed down Australia's exports to Iran by nearly 50 per cent in 1991 but trade is expected to recover this year, the United Arab Emirates dally Gulf News said yesterday, reports AFP.
The exports stood at 307 million dollar in 1991 compared with 500 million dollar in 1990, the paper quoted Bruce Wallace. Australia's Trade Commissioner in Tehran, as saying during a visit to Dubai.