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Syria regime punishes food hoarders: TV DAMASCUS: The Syrian government approved on Tuesday a law imposing penalties ranging from fines to imprisonment for people caught hoarding food in the war-torn country, state television reported."A draft law penalising those who raise food prices or hoard food has been approved" by the cabinet, said the broadcaster.The decision was passed amid an unprecedented financial and food crisis sparked by the 28-month conflict that a monitoring group says has killed more than 100,000 people.The penalties "range from imprisonment to a fine, depending on the crime committed," said state television.Some traders in Syria are trying to take advantage of the civil war, hoarding food until they are able to sell them at higher prices."There is no difference... between those who carry weapons to kill people and those who prevent others from living by blackmailing people," state news agency SANA quoted Industry Minister Adnan al-Sukhni as saying.State media says the price of ...

Jordan makes initial purchase of 50,000T feed barley HAMBURG: Jordan's state grain buyer has made an initial purchase of 50,000 tonnes of feed barley in a tender for up to 100,000 tonnes which closed on Tuesday, European traders said.The first purchase was made at $280.75 a tonne c&f and it was thought likely to be sourced from Romania for shipment in the first half of February 2014.Negotiations continue and it is possible more barley could be purchased later on Tuesday, traders said.Copyright Reuters, ...

Turkish police arrest 30 over anti-government protests ISTANBUL: Turkish police arrested about 30 people in Istanbul on Tuesday after briefly detaining more than 1,000 in a widening crackdown after weeks of violent anti-government protests, lawyers and local media reports said.An Istanbul prosecutor also rejected the release of detained members of Taksim Solidarity, an umbrella group of activists including trade bodies, political parties and non-governmental organisations that helped organise the demonstrations.Five people died and thousands were wounded during the protests, which began peacefully ...

US industrial output up more than expected in June WASHINGTON: U.S industrial production rose slightly more than expected in June as manufacturing output picked up speed, a welcome sign for an economy that appears to have slowed sharply in the second quarter.Output at the nation's factories, mines and utilities rose 0.3 percent last month after an unchanged reading in May, the Federal Reserve said on Tuesday. Economists polled by Reuters had expected a 0.2 percent increase in June.For the second quarter as a whole, ...

Polish PM says no plans to lift ban on kosher slaughter WARSAW: Poland's Prime Minister Donald Tusk said he had no plans to reintroduce legislation to lift a ban on the production of kosher meat, despite mounting criticism from Isreal and Jewish groups that it is harmful to Jews inPoland. Polish lawmakers last week rejected a government-backed draft law that would have allowed slaughterhouses to produce meat in accordance with Jewish ritual law.The law's opponents said the practice, which has been halted since a constitutional court ...

Angolan oil exports slip, far off 2 mln bpd target GENEVA: Angola's monthly crude exports will slip in September to 1.67 million barrels per day (bpd), a provisional shipping list showed, indicating that Africa's number two oil producer may struggle to reach an output target for next year.OPEC member Angola, which pumps nearly all of its oil from offshore fields, was scheduled to export 1.70 million bpd in August.Production from the southern African country has reached a plateau in recent years, despite ambitions to boost ...

Ivory Coast has sold 750,000T cocoa crop ABIDJAN: Ivory Coast, the world's largest cocoa producer, has already forward sold 750,000 tonnes of its 2013-2014 crop as of end-June, sources at the finance ministry and the cocoa industry regulator said on Tuesday."The sales started in December a bit earlier than last year - and we have already sold 750,000 tonnes as of end-June," said one source at the Coffee and Cocoa Council (CCC), the industry regulator. "Like last year, we expect to sell ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln