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Ukraine sanctions aside, US carmakers eye Russia market DETROIT: Never mind the Ukraine crisis and Washington's sanctions against Moscow: US automakers say the Russian market is their next big frontier.Russia is simply too large and too important for carmakers to ignore, experts said this week."The Russian market is going to be larger than Germany," said John Branch, a professor at the University of Michigan Ross School of Business.Branch said the structure of the Russian auto industry is in flux as the demand for imports increases despite barriers imposed by the Russian government.But that means that automakers, particularly those with global ambitions, simply can't afford to ignore the market's potential there, despite its volatile nature.- Wanted: small SUVs -======================Branch was speaking at a conference at the University of Michigan focusing on the opportunities and hurdles for US carmakers to sell to and in Russia.General Motors is already partly involved. It has invested in a joint venture with AvtoVaz, which ...

Obama-Abe summit seen giving impetus to trade but no deal: official WASHINGTON: Next week's meeting between US President Barack Obama and Japanese Prime Minister Shinzo Abe is a good opportunity to give impetus to trade negotiations but will not seal a deal, a senior US administration official said on Friday.Japanese and US trade officials will meet again on Monday in the lead-up to the leaders' talks to discuss sticking points in bilateral trade which are holding up agreement on the wider Trans-Pacific Partnership initiative.The senior official ...
S&P lifts Haniel ratings outlook to ‘positive’ FRANKFURT: Standard & Poor's has revised its ratings outlook for German investment group Haniel to "positive" from "stable", after the group bolstered its finances. Haniel has been shedding assets to offset a massive 2012 writedown on its holding in German retailer Metro and reduce debt, which stood at 1.6 billion euros ($2.2 billion) at the end of 2013. Family-owned Haniel also received about 2 billion euros following the sale of its stake in German drugs ...
US orange production hit by disease, juice prices soar NEW YORK: A citrus disease spread by a tiny insect has devastated Florida's orange crop, which is expected to be the worst in nearly 30 years, and sent juice prices soaring on New York markets.The culprit? The gnat-sized Asian citrus psyllid, which is infecting citrus trees across the Sunshine State with huanglongbing, or citrus greening disease, which causes fruit to taste bitter and fall from trees too soon."It feels we are losing the fight," said ...
US releases $450 mn in frozen Iran funds WASHINGTON: The United States has authorized the release of a $450 million installment in Iranian assets that were frozen as punishment for Tehran's disputed nuclear program, the State Department said Thursday.It came after a new report by the UN's nuclear watchdog found that Iran was complying with the terms of a November interim deal with world powers calling for a partial freeze to its controversial nuclear drive."Based on this confirmation and consistent with commitments the ...
Singapore March inflation to pick up from 4-year low SINGAPORE: Singapore's consumer prices in March likely rose from a four-year low in February, when headline inflation eased due to a high base of comparison a year earlier, a Reuters poll showed.The all-items consumer price index (CPI) in March probably rose 1.1 percent year-on-year, according to the median forecast in a Reuters poll of 12 economists, up from February's 0.4 percent rise, which was the lowest increase since January 2010.The drop in consumer inflation in ...
India's cotton exports hit as China shifts policy MUMBAI: Indian raw cotton exports are expected to plummet around 20 percent in the next crop year, with demand from China fading as Beijing unwinds a controversial stockpiling scheme. That would be greater than the nearly 6 percent drop touted for this year, with the change in Chinese policy coming on top of rising cotton consumption in India and a spurt in exports of finished yarn, industry officials said. Cotton markets around the world have ...

 



 
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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