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India to raise import tax on steel to counter China threat NEW DELHI: India will raise the import duty on steel by 5 percentage points from April 1, Finance Minister Arun Jaitley said on Saturday, to stem a flow of cheap supplies from China and Russia.The government would raise the tariff to 15 percent from 10 percent, Jaitley said in his budget for the next fiscal year. The move will help local companies that were fast losing their market share in the world's fourth largest producer of the alloy.India will also raise the import tax on metallurgical coal to 5 percent from 2.5 percent.Copyright Reuters, 2015


Union, Shell to resume talks in US refinery strike on March 4 HOUSTON: Negotiations to settle the largest US refinery strike are set to resume on March 4, the union and lead oil company negotiator said on Friday, the 27th day of the work stoppage.Talks between Shell Oil Co, the US arm of Royal Dutch Shell Plc and the United Steelworkers union (USW) broke off on Feb. 20 after refinery owners balked at a settlement. The union then ordered a strike by workers at three Motiva Enterprises ...

North Korean leader tells army: 'prepare for war' SEOUL: North Korean leader Kim Jong-Un has urged his army to prepare for war with the United States and its allies, state media said Saturday, as Pyongyang ramps up the rhetoric ahead of US-South Korea military drills.Kim's comments came after South Korea and the United States Friday conducted a joint naval drill involving 10 South Korean warships and a US Aegis destroyer, ahead of the launch of large-scale military exercises that have enraged the North."The ...

Germany approves Greek bailout extension despite unease BERLIN: German lawmakers approved a hard-won bailout extension for Greece's new anti-austerity government in a move Berlin's finance chief called "not easy" but necessary, keeping a crucial lifeline open to Athens.Greece's left-wing Prime Minister Alexis Tsipras welcomed the German vote Friday as "a political act of common sense and democracy", saying there would be no third bailout for his country and pledging to get to work on reforms.He promised that now his month-old government would ...

US sets out 'bottom lines' for Iran nuclear deal WASHINGTON: The United States on Friday set out what it called its "bottom lines" to reach a deal with Iran to rein in its nuclear program, ahead of new talks next week.Washington had stuck to its guns that it wanted a "good deal" and had agreed to several extensions of the negotiations "because we have held firm to certain bottom lines," a senior US administration official said."We will only accept an agreement that cuts off ...

US Congress averts Homeland Security shutdown WASHINGTON: Feuding US lawmakers narrowly avoided a Department of Homeland Security shutdown Friday at the 11th hour, but funded the agency only until March 6, forcing Congress to revisit the issue next week.House and Senate members scrambled to prevent the premier agency securing the United States against terror threats from running out of money at midnight, as DHS became a battleground for lawmakers clashing over President Barack Obama's controversial immigration reforms.Earlier attempts to secure comprehensive ...


 



 
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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%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln