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BRIEFS
GATT extends textile accord
GENEVA, Dec 10: The GATT world trade body on Wednesday extended until the end of 1993 an agreement governing global trade in textiles and clothing, a spokesman said. The textiles committee has adopted the decision extending the Multi -Fibre Arrangement (MFA)," he told reporters. An official communique said the 42-nation arrangement was being extended, for the fifth time since 1974," in view of the fact that the Uruguay Round has not been completed," reports Reuter.
China's GNP to hit all-time high
HONG KONG, Dec 10: China's gross national product (GNP) is expected to rise 12.1 per cent to an all-time record high of 2.138 billion yuan (369 billion dollar) this year. It was reported here Thursday. The State Information Centre, quoted by Hong Kong China News Service, said the figures showed that the national economy had entered a faster growth phase after an economic slowdown three years ago due to overheating, reports AFP.
Russia's repayment problem mounts WASHINGTON. Dec 10:
Russia's troubles repaying US-guaranteed loans continued to mount Wednesday with the default of a two million dollar payment on top of the 24.4 million dollar already tn arrears, an Agriculture Department spokesman said. Spokesman Roger Runningen said the department was notified late Tuesday that Russia had missed the two million dollar Cment. Oh Monday. Russia defaulted on 3.7 million dollar, reports AP.
US-Taiwan talks on copyright fail TAIPEI. Dec 10: Taiwan and the United States ended five days of trade talks on Wednesday without reaching agreement on US charges that the island is falling to protect foreign copyrights. Taiwanese officials safd. Washington accused Taipei of violating a bilateral paetpris-hibiting the Import from the third countries of US-made laser discs containing films and music, said Lin Yi-Fu, Deputy Director General of Taiwan's Board of Foreign Trade, reports Reuter.
ROK traders attactRoh
SEOUL, Dec 10: President Roh Tae-Woo's government Wednesday came under attack from business leaders and newspaper editorialists for the suicide of the president of a promising but financially strapped medium-sized enterprise. Koo Jong-Soo. 51. President of Korea Air Machine Company who was recently awarded the government model entrepreneur of the year award, was found Tuesday hanging by his neck in a down town park, reports AFP.
Iraqi traders go frantic
BAGHDAD, Dec 10: , Merchants were trying frantically here Wednesday to sell imported products which will be banned by the authorities starting Thursday. In the All-Rashid Souk, shopkeepers used loud-hailers to lure shoppers to buy goods ranging from clothes to television sets, refrigerators and microwave ovens at sale prices, reports AFP.
US to allow more experimental drugs
WASHINGTON. Dec 10: The Food and Drug administration will soon make more experimental drugs available quickly if they show promise of treating fatal or disabling diseases, the agency said Tuesday. The announcement means that the new rules, under consideration for months, could take effect in about 30 days, reports AP.
Norwegian krone allowed to float
OSLO, Dec 10: The state bank y>f Norway gave up the battle to defend the value of the national currency, the krone, and allowed It to float Thursday. The decision, in effect, allows the krone to be devalued. A statement from the bank said the Ministry of Finance had suspended the bank's obligation to defend the value of the krone, which was voluntarily linked to the European Currency Unit, re-k ports AP.