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US home re-sales hit 1-1/2 year low WASHINGTON: US home re-sales fell to their lowest level in more than 1-1/2 years in March, but there were signs a recent downward trend that has plagued the housing market may be drawing to an end.The National Association of Realtors said on Tuesday existing home sales slipped 0.2 percent to an annual rate of 4.59 million units.Though that was the lowest level since July 2012, sales were a bit stronger than economists had expected. There was also an increase in supply and more first-time buyers entered the market, key ingredients for a strengthening in activity.A run-up in prices, which has reduced affordability, is also starting to moderate. "The negative housing momentum, which was exacerbated by severe weather conditions during the winter months, may be starting to fade," said Gennadiy Goldberg, an economist at TD Securities in New York.The March sales figures reflected purchase contracts signed in January and February, when ...

Crimea energy firm says better off under Russia PARIS: Crimean oil and gas producer Chornomornaftohaz sees hope for the future from its new Russian owners and the possibility of doing business with Asia, after Kiev had failed to pay it anything for well over a year, a senior executive said.Russia annexed the Crimean peninsula following a referendum last month, and Crimea took ownership of Ukrainian state assets on its territory including the region's Black Sea natural gas fields and energy company Chornomornaftohaz."Crimeans now ...
Philips reports 15.0pc profit slump, flags in medical markets THE HAGUE: Electrical appliance group Philips reported a 15.0-percent slump in net first quarter profit on Tuesday, blaming a weak performance by its new strategic activities in healthcare equipment.Net profit plunged to 137 million euros ($190 million) because of a fall in underlying profit on a 12-month comparison.But this was better than the average figure forecast by analysts polled by Dow Jones Newswires who had expected a net figure of 114 million euros.Sales on a ...
China Mobile Q1 net profit falls 9.5pc to lowest in 5 years BEIJING: China Mobile Ltd on Tuesday said net profit in the first quarter fell 9.5 percent to its lowest level in five years, as online messaging and call services such as Tencent Holdings Ltd's WeChat ate into profit. The world's biggest mobile carrier by subscribers reported January-March net profit of 25.24 billion yuan ($4.05 billion), compared with 27.88 billion yuan a year earlier, for its third consecutive quarter of year-on-year decline. Operating revenue rose 7.8 ...
GSK says to sell oncology arm to Novartis for $16bn LONDON: British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday.Under a "major three-part transaction" GSK and Novartis have agreed also to create a consumer healthcare business, according to a statement issued by GlaxoSmithKline.Copyright AFP (Agence France-Presse), 2014 ...
China's Shandong Airlines orders 50 Boeing planes for $4.6bn BEIJING: Shandong Airlines, one of China's smaller carriers, said it has agreed to buy 50 passenger planes from US manufacturer Boeing for $4.6 billion, in another sign of the country's growing demand for air travel.The company signed a deal on Monday to purchase 16 Boeing 737-800s and 34 Boeing 737 MAX planes, a statement said, in a drive to grow its fleet for future business expansion.China's commercial airline industry is dominated by the "Big Three" ...
Mercedes says new Beijing plant has potential capacity of 350,000 BEIJING: Daimler AG can expand production capacity at its Beijing to 350,000 vehicles a year if customer demand calls for it, Rene Reif, the head of manufacturing at Beijing Benz Automotive, said on Monday. Daimler is expanding its new plant in Beijing before it starts making its long-wheelbase Mercedes-Benz C-Class model, a new car tailored for the Chinese market, as part of a global expansion push by the premium auto maker. The Chinese plant, which ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln