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Germany Linde to build big Saudi carbon capture plant KHOBAR: Saudi Basic Industries Corp (SABIC) has hired Germany's Linde Group to build the world's largest plant for capturing and using climate-warming carbon dioxide, the Saudi petrochemical giant said on Wednesday.The United Jubail Petrochemical Company (UNITED), an affiliate of SABIC, plans to capture around 1,500 tonnes a day of carbon dioxide from ethylene plants and purify it for use in SABIC-owned petrochemical plants in the industrial city of Jubail.The carbon capture and utilisation (CCU) plant will prevent about 500,000 tonnes a year of the gas which is blamed for global warming from being released into the atmosphere and SABIC said it could also supply 200 tonnes a day of liquid CO2 to the food and drinks industry."It will add to SABIC's business portfolio of industrial gas products," said Yousef Al-Zamel, Sabic executive vice president for chemicals strategic business unit. "This is the first of many other similar projects to be ...

British retail executive Bostock named Coast CEO LONDON: Kate Bostock, the former boss of clothing at Marks & Spencer, has returned to Britain's stores sector as chief executive of Coast, the privately owned women's fashion chain said on Wednesday.Bostock quit online fashion retailer ASOS in July after just seven months as executive director of product and trading, deciding the fast-growing online fashion firm that targets young women looking to emulate the designer looks of celebrities wasn't for her.She previously spent eight years ...
China Telecom first-half profit up 15.9pc HONG KONG: China Telecom said Wednesday net profit in the first six months of the year rose 15.9 percent year-on-year, citing growth in its 3G mobile operation.The country's largest fixed-line operator by subscribers posted unaudited profit of 10.21 billion yuan ($1.67 billion) for the first half, compared with 8.81 billion yuan for the same period last year. Revenue jumped 14.1 percent to 157.52 billion yuan, the company said in a filing to the Hong Kong ...
Swiss retailer backtracks on bull-penis dog snack GENEVA: Swiss supermarket giant Migros has backtracked on a decision to stick a no-nonsense "bull's penis" label on a brand of dog chews, it said Tuesday.Migros spokeswoman Martina Bosshard told AFP that the retailer faced a swift customer reaction when it switched from the fig-leaf "beef nerves" label to the franker and more accurate "bull's penises".After receiving negative feedback, Migros decided to go back to the more euphemistic labelling despite the fact that "no one ...
Norwegian growth hit by lower consumption OSLO: Norway economic growth fell to 0.2 percent in the second quarter as one of Europe's strongest economies was hit by a slowdown in consumption, official data showed on Tuesday."The cyclical upturn following the financial crisis seems to have stalled over the last three quarters," Statistics Norway said in a statement.The agency also revised downwards growth in the January to March period to 0.6 percent from a previous estimate of 0.7 percent.Analysts polled by Dow ...
Russian MTS posts profit vs year-ago loss MOSCOW: Top Russian mobile phone operator MTS posted on Tuesday a second quarter profit which beat analysts expectations and reversed a loss a year ago, after being boosted by the settlement of a Kyrgyz lawsuit.New York-listed MTS, part of oil-to-telecoms conglomerate Sistema, said in June it would book a $320 million gain this quarter from the settlement of a dispute over the 51-percent stake it bought in Kyrgyz operator Bitel in 2005.The company wrote off ...
Hyundai workers launch partial strike SEOUL: Workers at South Korea's top carmaker Hyundai Motor downed tools in a partial strike Tuesday, ahead of a threatened major stoppage to press for better pay and working conditions.Some 12,000 workers conducted a two-hour strike in the early afternoon at the company's main assembly plant in Ulsan city, with a further 12,000 due to follow suit in the early evening.Labour unions said the partial stoppage would be repeated on Wednesday, before negotiations resume with ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln