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BRIEFS
Nepal to get $3.5m fn>m US
KATHMANDU. Sept 25 The United Slate* signed an agreement with Nepal on Thursday granting II 3.5 mil Non dollar for the implementation of ' projects to •trengthen Its democratic in stttutlons The money will be aimed at helping the Nepalese governnx-nt Improve the per formauce of key democratie InsUtutions. a Finance Ministry official said. It will be spent on training, technical assistance, studies, commodities and local support cost* for the country » parliament. judiciary and dis trict and village development committees over the next four years he said, reports AFP
US economic growth slow in 2nd quarter
WASHINGTON. Sept 25: The US economy grow by a sluggish 1.5 per cent during the second quarter, according to the Commerce Department's estimates for Gross Domestic Product released Thursday The seasonally ad justed rate for all US goods and services from April to June exceeded last months projections of 1.4 per cent, but analysts said the slow growth indicated continued economic weakness. The Gross Domestic Product grow by 2.9 for the first quarter of the year, a rate considered low for economic recovery. Second quarter consumer spending fell 0.1 per cent during the period, after a 5.1 per cent jump tn the first quarter. reports AFP.
' Most ex-E German firms liquidated
BERLIN. Sept 25: Seventy per ebnt of former East Germany's state-owned firms [lave now been sold or liquidated, the President of the Treuhand privatisation agency. Birgit Breuel, said in an interview Sub Us bed on Thursday. Only ,810 out of the initial 13.148 firms were now tn the Treuhand control, with a payroll of 670.000. she told the East German edition of Bild. Investment commitments in the privatised firms had- reached 150 billion marks (100 million dollar) and 1.3 million jobs had been saved, she said, reports AFP.
S Korea's GNP to grow' by 6.6 pc
SEOUL. Sept 25: South Korea s Gross National Product (GNP) will grow by 6.6 per cent this year, compared to 8.4 per cent last year, the Central Bank of Korea predicted Thursday. This year's projected figure is the slowest growth rate since the economy expanded by 5.9 per cent in 1981 The current account deficit, which hit 4.4 billion dollar In the first half of the year. will drop to 1.4 billion dollar in the second half for a projected 5.8 billion dollar for the year the bank said The bank projected that exports would increase by 9.3 per cent for the year, compared with 10.5 per cent last year, reports AFP
1.74m tourists visit Thailand
BANGKOK. Sept 25: About 1.74 million tourists visited Thailand from January to June against 1.62 million a year Criously despite bloody gkok street riots in May. the Tourist Authority of Thailand (TAT) said here. Tourism in the early part of last year suffered because of the Gulf War. In May this year huge street protests against unelected Prime Minister Suchlnda Kraprayoon scared off some tourists, and the numbers of visitors during that month and in June were respectively nine and 13 per cent lower than a year earlier, reports Reuter
New accord on coffee won't resolve crisis
WASHINGTON. Sept 25: A new quota agreement will not resolve the problem of low world coffee price*. World Bank President Lewis Preston said here Thursday "The effect of these low commodity prices Is obviously very difficult for the producers.' he told a press conference winding up the an nual meeting* of the International Monetary Fund and World Bank. But "ft I* unlikely that an agreement between the producers and the purchasers will solve that problem, re ports AFP.
Hurricane to cost
US insurers $1.6b
HARTFORD. Conn. Sept 28: Hurricane Inlkl will cost insurers about 1.6 billion dollar, ranking It as the Industry's third costliest US disaster, said a group that tracks catastrophes for the industry The storm is ex-Eted to produce about
00O claims. according to estimates released Wednesday by American Insurance Services Croup Inc., reports Wl