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Iraq's oil exports rising in October despite unrest LONDON: Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from OPEC's second-largest producer. Four months after an advance by Islamic State into northern Iraq sent oil prices soaring to $115 a barrel, the unrest has not led to a reduction in Iraq's exports from the south, the main outlet for its crude to world markets. Exports from Iraq's southern terminals have averaged 2.55 million barrels per day (bpd), according to shipping data for the first 23 days of October tracked by Reuters. An industry source who monitors the exports had a similar estimate. The increase in supplies from Iraq, as well as a recovery in Libyan production despite conflict there, adds to the challenge for the Organization of the Petroleum Exporting Countries, which meets to ...


Former Japan PM to meet with China's Xi: report TOKYO: Former Japanese Prime Minister Yasuo Fukuda will meet with Chinese President Xi Jinping next week, a report said Friday, as Tokyo tries to set up premier-level talks amid tensions with its giant neighbour.The reported meeting on Wednesday is happening during Fukuda's three-day visit to Beijing as a board member of a China-based international forum, Japan's public broadcaster NHK reported.The sit down, which could not be immediately confirmed, is likely to focus on clearing the ...

Firm in China's first bond default to be restructured SHANGHAI: Creditors of the firm responsible for China's first domestic bond default have approved a restructuring plan in hopes of getting their money back, in an effective bail-out seven months after the landmark event.Shanghai-based Chaori Solar Energy Science & Technology Co. in March defaulted on interest payments of 89.8 million yuan ($14.7 million) for a five-year corporate bond issued in 2012.Under the restructuring scheme, a consortium led by a unit of Hong Kong-headquartered energy group ...

British economy slows down in third quarter LONDON: Growth of the British economy slowed in the third quarter of this year, official data showed on Friday in a context of concerns over the uncertain global outlook.Gross domestic product (GDP) grew 0.7 percent between July and September from output in the previous three months, the Office for National Statistics said in an initial estimate.The economy had expanded by 0.9 percent during the second quarter, and by 0.7 percent in the first quarter.But despite ...

Flight departs for North Korea despite Ebola tour ban BEIJING: A commercial flight took off from Beijing for North Korea on Friday, despite travel agencies saying they had been told the isolated state would close its borders to foreign tourists over Ebola fears.The Air China flight departed Beijing Capital International Airport Friday afternoon with 32 passengers on board, according to the airline's duty manager."My visa seems not to be affected," said German traveller Arne Hothan as he waited to board, a day after three ...

Neymar backing Brazil challenger Neves in election run-off SAO PAULO: Brazilian football idol Neymar on Thursday voiced support for presidential challenger Aecio Neves, just three days before this weekend's election run-off.Neymar, the hugely popular captain of Brazil's national team, said he was backing Neves over leftist incumbent Dilma Rousseff because he believed the center-right challenger was the best option for Brazil."I will support the candidate (Neves) because I identify with his proposals for Brazil," the 22-year-old multi-millionaire Barcelona star said in a video ...

China launches first mission to moon and back BEIJING: China launched its first space mission to the moon and back early Friday, authorities said, the latest step forward for Beijing's ambitious programme to one day land a Chinese citizen on the Earth's only natural satellite.The unnamed, unmanned probe will travel to the moon, fly around it and head back to Earth, re-entering the atmosphere and landing, the State Administration of Science, Technology and Industry for National Defence (SASTIND) said in a statement."The first ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln