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BRIEFS
UK welcomes German interest rate cut
LONDON, Sept 14: Britain ' welcomed the German central bank * announced intention Sunday to cut it* interest rates I , and. In the face of a European currency realignment, said the pound was not devalued. Britain has been able to maintain , the value of the pound without resorting to higher interest rates as the government held ( to a strategy Intended to keep (
India's GDP may recow from 2 pc NEW DELHI. Sept 14 The ' Gross Domestic Product (GDP) ( growth tn India is expected to , recover from low level of two 1 per cent in 1991 despite its , tight fiscal policies and Bal ( ancc Of Payments (BOP) constraints the United Nations I Conference on Trade and Development (UNCTAD) in its I trade and development report. 1992. however, forecasts that India's tight fiscal policies and BOP constraints are likely to continue until new financial flows resume substantially and barriers to foreign Investments are lowered, reports PT1.
Rubber market ends quiet
SINGAPORE. Sept 14 : Monday's trading on the Singapore rubber market finished on a quiet note, with prices edged fractionally lower in thin trading. Dealers said the market was quiet. I Investors from the European I markets were sidelined be- I cause unfavourable currency I factors put their sides out of I Une. reports AFP.
UK rates to remain unchanged
LONDON. Sept 14 : British | ■ base lending rates will remain unchanged for the immediate future even though Germany's mighty Bundesbank will this morning announce a cut in its Interest rates, economists said on " Monday, reports Reuter.
Meet to defend lira held
ROME. Sept 14: Italian Prime Minister Giuliano Amato was meeting here: Sunday evening with Treasury Minister Piero Barucci and Budget Minister Franco Rcviglto. apparently seeking ways to defend the lira. Officials at the Prime Ministerial Chigi Palace confirmed the meeting had started around 5:00 pm (1500 ' GMT) and was continuing after ; 8:00 pm. reports AFP.
Yeltsin interested in ROK investment
MOSCOW, Sept 14: Russian f President Boris Yeltsin will Etravel to South Korea in f November for a visit expected rlo focus on measures to en-rcourage South Korean Investment in Russia, officials said today Russian State Secretary I Genady Burbulis, speaking on television late Sunday, announced that the visit would take place November 12 and 13 and a spokesman for Burbulis confirmed those dates to-Lday. reports AFP.
US economists trim ’92 projection growth ‘ WASHINGTON. Sept 14: Many of the nation's top cco-'pomic forecasters have primmed already weak growth projections for 1992 following the economy s summer slump, 'according to a survey released Monday The National Assoeta-'tton of Business Economists paid the median forecast of the ;49 professional forecasters purveyed In late August pro-jccts the gross domestic product will expand by Just 1.8 per teent this year. The new projection was down from a two %cr cent GDP growth forecast 'in a survey last May The GDP 'is the total output of goods and services produced 1n the United States and the broadest measure of the nation s eco nomlc health, reports AP
* inflation rate stood
' at 25.54 pc
< RIO DE JANEIRO. Sept 14: ■The prospect of Brazilian
President Fcranndo Colter de ' Mello's Impeachment on corruption charges has revived the two demons that usually bedevil Brazil s economy: Infia-' tion and capital flight August's inflation was officially pegged _at 25.54 per cent, up four per cent points from July and threatening to spiral out of control despite efforts by monetary authorities Brazilian capital abroad meanwhile soared in that period to between 60 and 100 billion dollars, hitting 'unprecedented levels former finance minister -Malison da Nobrega said
Wednesday, reports AFP