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US steel execs urge duties on some imports from South Korea WASHINGTON: US trade officials should slap duties on super-cheap imports of steel products from South Korea and Turkey, steel industry executives, unions and pro-steel lawmakers said on Tuesday. Industry boosters urged the Commerce Department to reverse preliminary decisions against complaints by steelmakers with operations in the United States, warning the industry was under threat from imports which were often priced below cost and violated international trade laws. "The steel industry could be on the verge of elimination," United Steelworkers president Leo Gerard told a meeting of the Congressional Steel Caucus. Caucus chair Tim Murphy said Commerce should impose duties on imports of steel tube for the oil and gas industry from South Korea and Turkey, and on rebar from Turkey. If the department does not change its mind when it hands down final decisions later this year, Congress should consider introducing legislation to help the steel industry, he said. "The ...

Crimea crisis hits German business confidence: Ifo FRANKFURT: The German Ifo business confidence index fell for the first time for five months in March, data showed on Tuesday, as the Crimea crisis hurts sentiment in Europe's biggest economy. The Ifo economic institute's closely watched business climate index fell to 110.7 points this month from 111.3 points in February. "The crisis of the emerging economies and the events in Crimea are impacting the confidence of German firms," Ifo chief Hans-Werner Sinn said in ...
Philippine imports surge 22pc in sign of rising growth: govt MANILA: Philippine imports surged 21.8 percent in January, their highest level in nearly three years, with imports of raw materials indicating further upward momentum for one of Asia's fastest growing economies, the government said Tuesday.It was the biggest rise since March 2011, when imports grew by 21.9 percent, National Statistics Office figures showed.The Philippines, formerly an economic laggard, grew by a remarkable 7.2 percent in 2013 despite a series of disasters including the devastating Super ...
German business confidence index Ifo falls in March FRANKFURT: The German Ifo business confidence fell for the first time for five months in March, data showed on Tuesday, as the Crimea crisis hurts sentiment in Europe's biggest economy. The Ifo economic institute's closely watched business climate index fell to 110.7 points this month from 111.3 points in February.Copyright AFP (Agence France-Presse), 2014 ...
S&P cuts Petrobras, Eletrobas credit ratings to BBB- BRASILIA: Standard & Poor's cut the ratings of Brazilian state-run oil company Petroleo Brasileiro SA and Brazils largest utility Eletrobras to BBB- from BBB on Monday in line with its earlier decision to downgrade the country's sovereign debt. The agency cut Brazil's long-term debt rating one notch to BBB-, its lowest investment-grade, due to mixed policy signals from President Dilma Rousseffs government that had undermined its fiscal credibility and a slow growth outlook for the ...
BOJ tankan to show business mood up but outlook dims TOKYO: Japanese manufacturers' mood probably improved in the three months to March but it will likely weaken the following quarter due to concerns that a sales tax hike may dent the pace of the economic recovery, a Reuters poll showed.Big firms are expected to raise their capital spending plans slightly for the new financial year, though uncertainty over the economic outlook will keep them cautious.The Bank of Japan's tankan quarterly survey is expected to show ...
U.S, Japan plan further trade talks before Obama's Asia trip WASHINGTON: U.S. and Japanese trade negotiators will meet this week and next for further talks over farm tariffs and auto exports in the lead-up to President Barack Obama's planned trip to Asia.The U.S. trade representative said Japanese deputy chief negotiator Hiroshi Oe would visit Washington on March 27-28 for another round of talks on market access, the fourth round of bilateral meetings in a little over a month.They will be followed by separate talks on ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln