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EU may import more US wheat in coming months HAMBURG: The European Union, traditionally a huge wheat exporter, may import more US wheat in coming months because of low US prices, traders and analysts said on Monday.   "US wheat prices have dropped so low that more sales to the EU are on the cards in the near future," one trader said.   "It may sound like selling sand to Abu Dhabi but if the price is attractive US wheat will be imported."   Traders said US soft red winter wheat for February shipment from the US Gulf is currently priced around $315 tonne fob, way under French wheat at around $342 a tonne fob Rouen and German wheat at $361 a tonne fob Hamburg.   "High feed wheat prices, especially in Germany, are likely to generate more interest in wheat from the US and possibly South America," one German trader said.   A poor EU maize harvest in summer 2012 coupled with the decline of grain exports from ...

Gauge of US business spending plans edges higher WASHINGTON: A gauge of planned US business spending rose in December, a sign that business worries over tighter fiscal policy may not have held back investment plans as much as feared at the end of 2012.   The Commerce Department said on Monday that non-defense capital goods orders excluding aircraft, a closely watched proxy for investment plans, edged higher 0.2 percent.   The government also revised higher its estimate for November.   Overall durable goods orders jumped 4.6 percent in December.   Copyright ...
Major German wage negotiations by sector BERLIN: Wages of some 12.5 million German workers are due for negotiation this year and economists reckon their paychecks will outpace inflation to rise by between 2.5 and 4.0 percent.   Just under 60 percent of workers in Germany are covered by collective wage agreements, down from around 75 percent 15 years ago.   According to the Hans Boeckler Foundation. Negotiated wage deals act as a signal for wage rises in other areas of the economy.   Copyright Reuters, 2013 ...
India to review delays in South Korea NEW DELHI: India will conduct a review of the delays that have hit a planned investment by the South Korean steelmaker POSCO, Trade Minister Anand Sharma said on Monday.   POSCO plans to build a $12 billion steel mill in the eastern Indian state of Odisha, but the project has been held up for years due to protests from local farmers and fishermen. The South Korean government has voiced concerns about the delay over what is touted ...
Flows edge higher to Britain, Germany OSLO: Norwegian pipeline gas exports edged higher on Monday morning as a drop in flows to France and Belgium was more than offset by a rise to Germany and Britain, data from gas system operator Gassco showed.   Total supplies to Europe including Britain were at 312.3 million cubic metres (mcm) per day as of 0715 GMT, compared with an average of 309.4 mcm the previous day.   Flows to Britain, Europe's most traded gas market, gained by 4.9 ...
France has trimmed record trade deficit: minister PARIS: France has trimmed its record trade deficit, Trade Minister Nicole Bricq said on Monday in a press interview, thanks to resistant exports of agricultural, aeronautical, pharmaceutical and luxury products.   Asked by the conservative daily Figaro if the 2012 trade deficit would be smaller than the record in 2011 of more than 73 billion euros ($98 billion), Bricq replied simply: "Yes!"   She added that "in 2012, our exports were underpinned mainly by agrofood, aeronautics, pharmaceuticals and luxury ...
Bayerngas says not to proceed with Nabucco talks DUESSELDORF: Germany's south-western regional gas supplier Bayerngas said on Monday it was not continuing talks with the Nabucco-West pipeline consortium, which could be in line to help transport Caspian region gas to Europe.   "We are not continuing the talks," a spokesman for the Bavarian company told Reuters, adding Bayerngas was adjusting its strategy and was more focused on investing in pipelines in Germany.   The Azeri gas and oil producer consortium Shah Deniz is expected to choose by ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln