SEOUL TO GIVE MONGOLIA
$10 MILLION IN AIDSEOUL, South Korea - South Korean President Roh Tae-woo has promised visiting Mongolian President Punsalmaagiyn Ochirbat $10 million in economic aid, a presidential spokesman said Wednesday.
President Roh had agreed to give Mongolia a combination of soft loans and supplies of essential commodities such as rice and soap, the spokesman said.
"South Korea's economic developments have become a model for Mongolia to follow," the spokesman quoted President Ochirbat as telling President Roh. The Mongolian leader arrived in Seoul Tuesday for a four-day visit.
Trade between South Korea and Mongolia amounted to $5.2 million in the first eight months of 1991, against $2.5 million in all of 1990, according to South Korea's trade ministry.
TAIWAN TO LET FIRMS
ISSUE STOCK ABROAD
TAIPEI, Taiwan - Taiwan will allow local companies to issue shares abroad starting next year as part of efforts to expand its capital markets, the country's Securities and Exchange Commission said Wednesday.
"Companies will gain a new source of funds by issuing abroad, and they will also be able to raise their international profiles," Gordon Chen, director of the corporate finance division at the SEC, said in an interview.
Securities analysts said foreign interest in the stocks was likely to be substantial and added they believed several major Taiwanese companies were already planning issues abroad.
REPORT: RUBLE TUMBLES
TO A RECORD LOW
MOSCOW - The ruble has fallen to a record low of 72.3 against the U.S.
dollar on the Soviet central Gosbank's currency market compared with 61 rubles on Oct. 15, the unofficial Interfax news agency reported Wednesday.
Experts attributed the rise of the dollar to frequent recent references to a possible reform of the Russian economy and the introduction of a national Russian currency.