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BRIEFS
Malaysia to allow Iraq more time
KUALA LUMPUR. June 20: Malaysia srill not pressure Iraq to make Immediate payment of some 30 million ringgit it owes for palm oil purchases Deputy Primary Industries Minister Tcngku Mahmud Manaor said. reports Reuter
But Malaysia will push for repayment once Iraq's war-torn economy recovers, the national liernama news agency quoted him as saying on Friday
Discussion on bid for UPI ends
WASHINGTON. June 20; A lawyer who may make a bid for United Press International said he ended discussions with a Dutch foundation that offered to provide the wire service with seven million dollar, reports AP.
Amsterdam-based National Postal Lottery missed a noon deadline for submitting a letter of intent, said Leon Charney, who has spent 180.000 dollar lo keep UPI tn business through Monday while he looks at the books.
Japanese firms pin hope on Rao's visit NEW DELHI. June 20:
Japanese firms, locked In a btlter payments dispute over two Indian projects, arc seeking a breakthrough when Prime Minister Naraslmha Rao visits Tokyo next week, official and company executives said on Friday, reports Reuter.
The French Spie-Capag. leading Japan s NKK Corp and Tec in a consortium, said it had nol received about 60 million dollar from a 600 million dollar gas pipeline project from the slate-owned Gas Authority of India Limited (GAIL)
The Mitsui Corporation, leading an all-Japanese consortium to build India's most modern port near Bombay, are locked in a payments dispute with Ihe port. Japanese officials said.
Indi a to check spices export fall
NEW DELHI, June 20: The Indian Commerce Ministry has drawn up a plan of action to check the (all in India's share of the world spices market, the local, press reports . Saturday. says Xinhua.
The f)an aims tp increase exports to 163,000 tons by the end of 1996 from last year's 97,291 lo'ns
The Ministry has identified 15 districts, mostly in the south, for organised cultivation of spices.
Bid to bail out
New York Daily News
TORONTO. June 20: Hollinger Inc has bid about million dollar to buy the troubled New York Daily News and would spend another 200 million dollar on a new printing plant, the Canadian company's president said Thursday, reports AP
David Radler. President of the Vancouver-based HolHn-■ ger, owned by Canadian newspaper tycoon Conrad Black, spoke after the company's annual meeting.
Radler said that of the 75 million dollar. 30 million dollar would go to creditors and another 35 million dollar would be for severance payments. Under the terms of the bid. about 700 positions would be eliminated, Radler said.
Thai growth in '92 predicted at 7.4 pc BANGKOK. June 20:
Thailands economic growth tn 1992 Is now predicted at around 7.4 per cent, down from eight per cent, due to political uncertainty, but economic fundamentals were still sound, a Thal official said Wednesday. Reports AFP.
The hardest hit sectors, following the military's bloody crackdown on pro-democracy protesters mid-May were tourism, including the hotel Industry, the airline business and securities market." says Pisit Pakascm, chairman of the National Social and Economic Development Board (NESBD).
Canada's inflation falls to 21-year low TORONTO (Canada). June 20: Canada's Inflation rate fell to a 21 -year low of 1.3 per cent in May. the government said on Friday, as the country's sluggish economic recovery . pulled down the cost of living.
reports Reuter.
The government agency Statistics Canada said it's May consumer price index was held in check by falling food prices and only a modest rise in seasonal tax increases.
The 1.3 per cent rise in prices from the same time last year followed a 1.7 percent gain in the April CPI rate. On a month to month basis, consumer prices fell 0.1 per cent seasonally adjusted and rose 0.2 per cent unadjusted.