Economic reforms to continue: Rao

NEW DELHI. Dee 31; Indian

Rao. under pressure to ease fiscal reforms after recent state election defeats by his Cmigreas party, said the emm-trys economic Uberaliaafion would continue. There will be no going back" on the three year-old economic reform programme. Rao told the Times of -India Cn an interview published on Friday, reports Reuter.

EU members okay deal with US

BRUSSELS. Dec 31: Members of the European Union have approved a compromise compensation deal with the United States in connection wtth the Impending EU membership of Austria. Sweden and Finland, an EU council of miterday Approval waa given^n writing and the required majority waa obtained aa only France voted against the deal, he said. The agreement is for a maximum period *f six months, excludes agricultural product*, and provide* for a total amount of ISO million to 200 million ecu* (183 million to 244 million dollars) in compensation to US exporter* for harm they will suffer as the' new member* . raise some tariffs to EU levels, reports AFT

Largmt mobile teiecxMn in China BEUING. Dec 31: The world* largest mobile telephone communication* network i» io go into operation in CJilna' from January 1995 allowing subscriber* (o use tlicir hand sets anywhere in the country, a report said today. The network is to begin service Sunday, the China Daily quoted a Ministry of Post and Telecommunications (MPT) spokiesman as saying, adding that the move would allow public mobile telephone subscribers to call from any city or county across the country, reports AFP

HeyrhaBf niybe int’l business centre

VICTORIA. Dec 31: Slap ba ng in the middle of the Indian Ocean, the dreamy Seychelles islands, for so long marketed as a tourist paradise, are now trading on thefr strategic location in a bid to make it as an international business centre. Situated midway betweerr Africa and Asia, and between the Middle East and Australia. Seychefles hopes to attract major investors in transhipment" and offshore banking, economists here say. The national assembly, the first multiparty parliament in 18 years, this month overwhelmingly approved legislation providing a framework for transforming the islands into a turntable far inter-continental trade, reports AFP.

Mexico negotiating inti aid package

MEXICO CITY. Dec 31: The government is negotiating an international assistance package of up to 13 billion dollars to battle an economic crisis caused by ^plunging peso, senior officials said Friday. The negotiations involve the commercial banks J.P. Morgan Inc. and Citibank in New York as well as the Bank for International Settlements in Basel. Switzerland, the officials said ,at .i briefing, reports AP -