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Germany's Jan-Feb gas import costs up on higher volume FRANKFURT: Germany's natural gas import bill for the two months of January and February rose by 2.1 percent year-on-year on higher import volumes, which overrode a decline in prices, according to official data from trade statistics office BAFA.The total cost was 4.9 billion euros ($6.8 billion) compared with 4.8 billion euros in the same period a year earlier.The amount of gas imported in Jan/Feb rose by 6.5 percent year-on-year to 644,908 terajoules* (TJ), carrying on from a strong year-on-year volume rise which began in the final quarter of 2013 and reflecting a more severe winter than seen in 2013.Many continental European gas prices, including those recorded by BAFA, still track crude oil prices with a time-lag of about six months.BAFA prices are used in the domestic market to track the cost of imports and to decide whether gas is competitive compared with other fuels.Russia accounted for 40.7 percent of deliveries ...

Russia's Magnit Q1 net profit down on forex losses MOSCOW: Russia's biggest food retailer, Magnit, reported on Tuesday a 1.2-percent year-on-year fall in first-quarter net profit due to a weaker rouble. The company said net income was $199.9 million compared with $202.4 million in the first quarter of 2013, while in rouble terms profit rose 13.5 percent. Magnit also said its margin on the basis of earnings before interest, taxation, depreciation and amortisation (EBITDA) slid to 9.1 percent from 9.3 percent the year earlier ...
Sri Lanka keeps rates steady at multiyear lows as credit growth slows COLOMBO: Sri Lanka kept policy rates steady at multiyear lows on Tuesday, as expected, and expressed confidence that private sector credit growth would rebound in the second quarter and push up the pace of economic expansion. The repurchase rate and reverse repurchase rate were left at 6.50 percent and 8.00 percent, respectively, as most analysts in a Reuters poll had forecast. In January, Sri Lanka reduced the reverse repurchase rate by 50 basis points. Private ...
Jobless rate still good gauge of slack: Fed study SAN FRANCISCO: The U.S. jobless rate in recent years has been a good gauge of slack in the economy, according to a paper published Monday by the Federal Reserve Bank of San Francisco that takes aim at critics who have argued otherwise.Indeed, the unemployment rate has responded to GDP growth since the financial crisis in essentially the same way that it has in every recession since the 1970s, the paper's authors found, rising when economic ...
Unemployment rate still good gauge of slack: Fed study SAN FRANCISCO: US jobless rate in recent years has been a good gauge of slack in the economy, according to a paper published on Monday by the Federal Reserve Bank of San Francisco that takes aim at critics who have argued otherwise.Indeed, the unemployment rate has responded to GDP growth since the financial crisis in essentially the same way that it has in every recession since the 1970s, the paper's authors found, rising when economic ...
Russia may suffer second-quarter recession: finance ministry MOSCOW: Russia could tip into recession in the second quarter of 2014 after the economy contracted by around 0.5 percent in the first three months of the year, a finance ministry official said Monday."It looks like the second quarter compared with the previous quarter will again have a negative value. In this way, the finance ministry does not rule out a technical recession," the Interfax news agency quoted Maxim Oreshkin as saying.Oreshkin, who heads the ...
South Korea April 1-20 exports up 4.3pc y/y SEOUL: South Korean exports rose 4.3 percent for the first 20 days of April from the same year-ago period, customs agency data showed on Monday, slower than gains in March as global demand eased. Exports rose 8.2 percent year-on-year for the first 20 days of March, and 5.1 percent for the whole month. The April reading was higher, however than the 2.2 percent rise in exports for the January-March quarter. South Korea is the world's ...

 



 
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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