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BRIEFS
Lower Thai economic growth prqjected
BANGKOK. June 27 : Tahllands Gross Domestic Product growth is projected to fall to 7.5 per cent In 1092 from an earlier 8.1 per cent estimate and 7.9 per cent in IM1, the Bank of Thailand said reports Reuter.
Central bank governor Vijtt Suplnit told a seminar on Wednesday his lower 1992 growth projection could be attributed to damage caused by a bloody political unrest here In May which he described as a hiccup that didnot change the underlying strength of the
Taiwan dollar hits record high
TAJEPI. June 27 : The Taiwan dollar, propelled by , high local interest rates here Mt an all-time high of 24.645 ‘sr*. the US dollar, reports
Coupled with the central bank's hands-off policy, the Taiwan dollar broke the record high of 24.699 registered on . the previous day.
Japan's banks lower prime rate , TOKYO. June 27 : The Industrial bank of Japan said Thursday it will lower its longterm prime rate by 0.2 percentage points to 6.1 per cent In July, reports AFP.
The long-term prime rate is the Interest banks charge on । loans of one year or more to ■ their most credit-worthy customers.
The nation's two other long-term credit banks, the i long-term credit bank of Japan and Nippon Credit bank, are expected to follow suit.
Indian bank posts record profits
NEW DELHI. June 27: India's largest commercial Csted record profits in the t fiscal year despite losses of eight billton rupee (266 mil Hon dollar) tn a massive securities fraud, press reports said here, according to AFP.
Net profits of the government-owned State Bank of India (SBI) touched 1.75 bll-Jjon rupee (58.3 million dollar) In the year to March 31. up from l.yr billion rupee 135.6 million dollars) the previous year.
HOUSTON. June 27: US crude oil prices will move within narrow ranges next week as traders await devel opments in Iraq-UN talks, in-'dustry analysts said, reports Reuter.
Oil prices ended lower Friday on news that key UN Security Council members were still hoping a formula, could be worked out to allow Iraq to re-enter the world petroleum market.
Coffee talks Cail
LONDON. June 27: Coffeetrading nations on Friday ended a week-long meeting here on a proposed new international treaty to lift depressed world prices without reaching agreement on any of the Issues considered, reports AP
The inconclusive outcome coincided with a fall in the world price of beans to a new 20-ycar low.
The 70-natlon international Coffee Organization, under whose auspices the talks were held, scheduled further dis cussion on the proposed pact for the end of July.
New effort to end
US rail strike on
WASHINGTON. June 27: Unions and railroads began Friday a new effort to resolve their four year-old wage-and-work rule disputes under the. preaaure of binding arbitration imposed as the government ended a two-day rail shutdown, reports AP.
But some union officials branded the new and untried approach "a crime" that will destroy collective bargaining by effectively ending the right of labour to strike.
FAO reports food shortage in Africa NAIROBI. June 27 : Some .40 million people in sub-Saharan Africa arc facing food shortage with 19 nations needing emergency rcHef aid as a result of prolonged drought and internal conflicts, according to the United Nations Food । and Agriculture Organisation
(FAO)), reports Xinhua.
In a special report on Africa's food situation issued here on Wednesday the FAO estimated that the sub-region would be short of about 15 millton tons of food this year
It predicted that 1992 would be another difficult year for sub-Saharan Africa with Southern and Eastern Africa bearing the brunt.