OECD forecasts fall in Dutch economy

PARIS. May 4: The Dutch econony. clad with a strong guilder and low interest rates, is Hkely to shiver this year as GDP growth declines to less than one per cent mainly because of a downturn tn Germany, the OECD fore cast on Monday. In line with most of Europe, the Dutch economy was weakening form growth bf Gross Domestic Product (GDP) of 16 per cent last year to probably about 0.8 per cent In 1993. But it would rebound to "around tws per cent In 1994 tn line with the international recovery.' says AFP

Iraq imposes heavy tax on foreign travel

BAGHDAD. May 4: Iraq has imposed a heavy tax to curb travel abroad as part of moves -io halt the collapse of Its currency against the dollar, a government dally announced here Al-Jumhurlya said that government had introduced a tax of 15,000 dinar (45,000 dollar at the official rate) for foreign travel. The tax alma to limit travel and cut demand for the dollar, which trades for more than 50 dinar on the black market compared to the official rate of three dollar to the dinar, reports AFP.

US-Russia discuss food aid details

WASHINGTON, May 4: The US Agricultural Department Monday outlined details of the 700 million -dollar food aid package promised Russia at the Vancover Summit, Including a US-Russian agreement to share transportation costs. Washington and Moscow agreed over the weekend to share transportation costs after Russian complained about the high cost of shipping the goods in US flagged ships. Seventy five per cent of goods must be carried on US-flagged ships under US Cargo Preference rules, reports AFP.

Lebanese PM visits Oman for aid talks

Rafik al Hariri arrived in Muscat. Oman yesterday on a visit as part of his Gulf tour to seek financial aid for his country's reconstruction. This was the third leg of Al Hariri's four-nation Gulf tour designed to make sure that the oil-rich states keep their promise to help Lebanon recover from the 1975-1990 civil war. which caused damages up to 25 billion US dollar Al-Hariri has also visited the United Arab Emirates and Bahrain, reports Xlnhna.

China's 1st quarter tax revenue up

BEIJING, May 4: The Chinese government said Tuesday its Industrial and commercial tax revenues rose 11.4 per cent In the first quarter of the year, reflecting the economy's dynamic growth. The official newspaper China Dally said revenues from value-added, business, sales and other non-personal taxes totalled 62.3 billion yuan (10.9 billton dollar, up 6.4 billion yuan (1.1 billion dollar) from the first quarter of 1992. The sharpest growth was in taxes from foreign-funded companies. which increased nearly 60 per cent to 3.5 billion yuan (616 million dollar), reports AP-

ADB admits Tuvalu i as 54th member

MANILA, May 4: The Asian Development Bank (ADB) has admitted the tiny Pacific island nation of Tuvalu as Its 54th member, officials announced here Tuesday as the lending institution began its 26th and annual meeting. Tuvalu, a nation of 8,000 formerly known as the Ellis Islands, qualified as a borrower country on the eve of the meeting after completing all formalities, Including the first Instalment of its subscription to ADB capital stock, says AFP.

Tourism in Nepal up by 14.1 pc

KATHMANDU, May 4: Tourism in Nepal climbed 14.1 per cent In 1992 from 1991, an official of the Ministry of Tourism and Civil Aviation said. He said 334,353 tourists visited Nepal last year, with Indians accounting for nearly one third of the total. The next largest group was the British, followed by Germans, French, Americans and Scandinavians. Visitors to Nepal In 1992 stayed an average of 14 days, compared with 12 days a year earlier, the official \saki, says AFP.