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European car sales rise, helped by Spanish subsidies FRANKFURT: Car sales in Europe rose in August but analysts and executives pointed to a heavy reliance on government incentives in Spain and a fall in sales in big markets Germany, France and Italy as signs a European recovery may be faltering.Mass-market carmakers Volkswagen, Ford and Opel all made gains, while premium makers BMW, Mercedes-Benz and Audi lost ground.Europe's car industry has showed signs of emerging from a six-year slump, with registrations bottoming out last year. But sales are increasingly reliant on discounting.New passenger car registrations in the European Union and the countries of the European Free Trade Area (EFTA) rose 1.8 percent to 701,118 vehicles in August, compared with the same month last year, data from the Association of European Carmakers (ACEA) showed on Wednesday.The increase was driven by a 26 percent jump in car sales in Portugal and a 13.7 percent jump in Spain, where sales are supported ...

EU car sales up again in July and August PARIS: New car registrations in the European Union showed further recovery in July and August, industry data showed on Wednesday.Sales of new cars rose 5.6 percent in July and 2.1 percent in August, the Association of European Automobile Manufacturers (ACEA) said, showing the market is shaking off a slump.French manufacturer Renault performed strongly in July with a 10.4-percent rise, but fell back 3.1 percent in August.European car manufacturers were hard hit during the financial crisis ...
Nippon Steel's Nagoya plant searched by police after fire TOKYO: Nippon Steel & Sumitomo Metal Corp's Nagoya steel plant was searched by police on Wednesday, following a fire earlier this month, a spokesman at Japan's biggest steelmaker said. Fifteen workers were injured at the plant, which produces about 15 percent of the company's steel output, when a fire broke out on Sept. 3, the fifth incident at the 56-year-old facility in the central prefecture of Aichi this year. Police are investigating the Nippon Steel ...
Qatar Airways takes delivery of its first Airbus A380 HAMBURG: Qatar Airways has taken delivery of its first A380 superjumbo following a three-month standoff with planemaker Airbus over the quality of cabin fittings. Chief Executive Akbar Al Baker said Airbus was not to blame for the delayed delivery of the world's largest airliner, defusing the row after earlier threatening to seek compensation. He also expressed confidence that the mid-sized A350, the company's newest model, would be delivered on time before the end of the ...
Australia plays down China 'dirty coal' ban impact SYDNEY: Australia on Wednesday played down the impact of China banning the sale and import of "dirty" coal, saying miners would adapt and exports would not be significantly affected.The Chinese government on Tuesday said the anti-pollution move would take effect from January 1 to help tackle the choking smog that regularly blankets its cities after three decades of rapid industrialisation.Much of that pollution is driven by its heavy reliance on coal with the Asian giant ...
Shell says unplanned outage cuts St Fergus gas terminal flows LONDON: An unplanned outage has cut gas flows at Shell's St Fergus gas processing terminal, Shell said on Tuesday."Some minor unplanned maintenance work has temporarily impacted gas flows to St Fergus. We expect levels to return to normal shortly," a spokeswoman for the company said.National Grid data showed volumes fell to zero early on Tuesday morning from more than 20 mcm/day on Monday evening. By 1330 GMT volumes were still zero, the data showed.Shell said ...
Hyundai Motor to build two new plants in China instead of one: sources SEOUL/SHANGHAI: South Korean automaker Hyundai Motor Co plans to build two new factories in China instead of one, two people familiar with the matter told Reuters on Tuesday.The increase is to meet the request of China's central government, which wants Hyundai to build a plant in the northeastern Hebei province as part of a development plan spanning Beijing, Tianjin and Hebei, one of the people said.Hyundai, which has three factories in Beijing, in March signed ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln