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BRIEFS
Rouble drops against dollar
MOSCOW. Sept 18: The rouble slipped slightly on Thursday in heavy trading, dropping to 205.5 to the dollar on Moscow s tiny Interbank Currency Ex change (MICE). The .volume of sales fell to 49 16 million from 50.32 million on Tuesday, when the rouble fell to 204 to the dollar from the previous Thurs-day's 203
A MIOS spokesman said the week's total sales volume was a record for the exchange. reports Reuter
Arab League for liberal economy
TUNIS. Sept 18: Arab League Secretary-General Esmat Abdel Maguld urged Arab Finance and Economy Ministers Thursday to liberalise their economics. His call was backed by Tunisian Prime Minister Hamed Karoui. whose country is implementing a reform programme drawn up with the help of the World Bank. "Economic reforms are an insistent need for several of our countries while some of them have done positive and practical steps In that way." Abdel-Maguld told the Ministers at a meeting, re- . ports Reuter
Hanoi allows visitors carry $300
BANGKOK. 18: Vietnam now allows travelers to bring foreign currency worth up to 3,000 dollar into the country without declaring it. the offi cial Vietnam News Agency reported Friday. The State Bank of Vietnam ruled that, effective this past Tuesday, both Vietnamese and foreigners may Import and export the sum without listing it on a customs form or obtaining special permission, said the report, monitored In Bangkok. Travelers had been required to declare all money in their possession upon arrival, and officially were supposed to account for all their spending in the country upon departure, reports AP.
Singapore rubber market quite
SINGAPORE. Sept 18: Trading on the Singapore Rubber market was quiet Friday with traders sidelined due to the European currency crisis. The peening prices at the start of the first session of trading were unchanged from the one O'clock levels with caution being exercised by all concerned. European traders, still reeling from the confusion in the currency markets, tended to sell Into the paper market, reports AFP
UK budget deficit reaches $5.52 b
LONDON, Sept 18: The British public sector borrow a requirement was 2 906 ion pounds (about 5.52 billion dollar) in August, the Treasury said on Wednesday. Analysts had expected borrowings to total 3.5 billion pound. The deficit In July was 669 million pounds on a revised basis, from 562 million pound announced earlier. Revenue from privatisation totalled just seven millton pound In August, compared with 1.661 billion pound n July when a second Instalment of payment for privatised BT (telecommu -nfcatlons) shares was made, reports AFP.
Portugal won't devalue currency LISBON (Portugal) 18: Portuguese financial authorities Thursday denied rumors of a possible devaluation of the escudo against other European Community currencies A Finance Ministry statement stressed the. 'confidence of the authorities in the nominal stability of the escudo." The statement was released after Finance Minister Jorge Braga de Macedo met central bank directors and commercial bankers for talks that focused on the turmoil In European exchange rates. State Treasury Secretary Jose Braz told reporters, "in the cur rent circumstances I don't see any advantage tn devaluation, reports AP
Pakistan foreign reserves fall
KARACHI, Sept 18: Pakistan's foreign reserves fell to 932 million US dollar in the week to September 3. compared with 1.05 billton US dollar tn the week before, the State (central) Bank of Pakistan said One banker said a rising Import bill caused the fall. Imports rose to a provisional 738 million US dollar In August, compared with 665 million US dollar in July and 724 million US dollar in August. 1991, reports Reuter.