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PetroChina sells pipeline stake amid reforms push SHANGHAI: State-owned Chinese oil giant PetroChina will sell half of a subsidiary that operates pipelines across central Asia for $2.4 billion, it said, raising hopes of possible reforms among nationalised firms.PetroChina's Trans-Asia Gas Pipeline has pipelines connecting China with countries including Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan.It is expected to have an 8,000 kilometre network with an annual capacity of 85 billion cubic metres by 2020.The 50 percent stake will be sold to another state-owned firm, China Reform Holdings, PetroChina said in a statement to the Shanghai exchange late Wednesday.While the transaction is between state-owned companies, and for only half the pipeline unit, spinning off non-core assets is seen as a positive sign for change in China's lumbering state sector.Vested interests are entrenched within it but the government has been pushing reforms as it seeks to bolster the economy to avoid a hard landing. PetroChina and its huge parent company, China ...

Swedish central bank may be cautious before new measures STOCKHOLM: Sweden's Riksbank has taken a large number of policy measures in this year and will not be hurried into new action given the complexity of the current situation, Deputy Governor Cecilia Skingsley said on Thursday."A lot is happening and so there may be reason to dare to take a step back and be a bit cautious when it comes to possible further measures," she told reporters."We need to be good at seeing through the ...

PlayStation 4 console sales top 30 million SAN FRANCISCO: Sony on Wednesday announced that PlayStation 4 video game consoles have sold at a furious pace, topping 30 million units worldwide.PS4 has seen the fastest and strongest adoption since the first generation of the video game console was introduced in late 1994, according to Sony Computer Entertainment (SCE).Some 30.2 million PS4 consoles were sold worldwide as of November 22, according to SCE.Microsoft has not released recent Xbox One console sales figures, which have ...

GM, law firm can keep ignition switch documents secret NEW YORK: General Motors Co and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan federal judge ruled on Wednesday.Despite finding "probable cause" to believe GM committed a crime or fraud by hiding the defect from regulators and the public, US District Judge Jesse Furman found no showing that the ...

Peru central bank chief sees November inflation above target level LIMA: Inflation in Peru during November will likely be higher than what the central bank would like due to an increase in some food prices, bank president Julio Velarde said on Wednesday, a sign an interest rate hike may be in the works. Velarde said that Peru's economy is growing below its potential of 4.5 percent and underscored that the sol currency has been hit by a sharp drop in prices for copper, one of ...

Brazil sells rights to run 29 hydropower plants for $4.51bn SAO PAULO: Brazil sold operation rights for all the existing hydropower plants it offered to power companies and investors in an auction on Wednesday for 17 billion reais ($4.51 billion), taking an important step to reorganize the power sector and to boost its accounts before the year ends. The Brazilian government promoted the auction to find new operators for 29 hydropower installations with expired or nearly expired licenses, aiming also to raise crucial revenue for ...

American Airlines stops accepting payments in Argentine pesos BUENOS AIRES: American Airlines has stopped accepting Argentine pesos to pay for tickets due to currency controls that make it hard to convert receipts into US dollars, local media and one of the airline's sales agents said on Wednesday. "That's the policy at this moment. It started two days ago," said an American Airlines sales agent contacted by Reuters. A local spokesman for the airline, the world's largest, could not be reached immediately for comment. ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln