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Polish president meets Qatari officials over LNG deal WARSAW: Poland's president met with Qatari officials this week to discuss a liquefied natural gas (LNG) deal with Qatar that has drawn scrutiny from the eastern European country's public spending watchdog. Under the agreement "take-or-pay" contract signed in 2009 with state-run exporter Qatargas, Poland's gas monopoly PGNiG will buy 1 million tonnes of LNG annually from Qatargas for 20 years at a price closely correlated to crude oil. While the deal requires PGNiG to begin paying for LNG whether the terminal on the Baltic coast is ready or not, the Polish treasury minister said in September the country is unlikely to pay for supplies if the facility is delayed. During his visit on Monday, President Bronislaw Komorowski discussed the contract to deliver Qatari gas to Poland starting at the turn of 2014 and 2015 with Qatari Emir Sheikh Tamim bin Hamad al-Thani and stressed the LNG facility ...

UK economy grew 0.8pc in 3 months LONDON: Britain's economy grew an estimated 0.8 percent in the three months to the end of November but has not yet reached pre-recession levels, the National Institute of Economic and Social Research (NIESR) said on Tuesday. The figure represents a slight increase from the 0.7 percent reached in the three months to October. The economic think tank said that continued growth in a wide range of sectors was supporting the recovery, ...
Greece's creditors back in Athens this week: official ATHENS: International auditors are due back in Athens this week to assess Greece's progress in implementing reforms in exchange for loans, a Greek official said Tuesday, clearing up earlier confusion over their return."The auditors will meet with the finance minister on Wednesday afternoon," said a source at the office of Finance Minister Yannis Stournaras.The meeting is expected to be closely watched for any hints of disagreements between the Greek government and the country's so-called troika ...
Turkey economy grows 4.4pc in Q3 ANKARA: The Turkish economy grew by a stronger-than-expected 4.4 percent in the third quarter of 2013, according to official statistics published Tuesday.The figure, which compares with the same quarter of 2012, was higher than the market consensus of around 4.0 percent.Growth for the first nine months of the year was 4.0 percent which the government said was "in line with its growth predictions for 2013".The government is forecasting growth of just 3.6 percent for this ...
IMF cuts Russia's 2014 growth forecast MOSCOW: The International Monetary Fund slashed Russia's 2014 growth forecast on Tuesday while warning that faster expansion would be hard to achieve without a change in the energy-rich country's economic model.An IMF team said after concluding a regular mission to Moscow that it was cutting its 2014 growth forecast to 2.0 percent from the 3.0 percent last expected in October.It added that growth was likely to reach 1.5 percent this year -- slightly higher than ...
Unemployment rate in rich countries steady: OECD PARIS: The unemployment rate across rich countries held steady for the second straight month at 7.9 percent in October, the OECD said on Tuesday with 47.8 million people officially without work in the 34 countries.The eurozone rate dipped over the period to 12.1 percent, while the rate in the United States rose slightly to 7.3 percent, but more recent data has showed that the rate there decreased to 7.0 percent in November.Young people are the ...
Britain's official trade deficit drops in October LONDON: Britain's trade deficit for goods with the rest of the world dropped in October but reached a record high with the European Union, official data showed on Tuesday.The overall deficit decreased to £9.7 billion ($15.9 billion, 11.6 billion euros) compared with £10.1 billion in September, the Office for National Statistics said in a statement.With the EU, the trade in goods balance reached a record deficit of £6.5 billion, the ONS said.Copyright AFP (Agence France-Presse), ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln