04292016Fri
Last update: Fri, 29 Apr 2016 01pm

Global Business & Economy

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India's 2015/16 natural rubber imports rise 2.8pc y/y MUMBAI: India's natural rubber imports in fiscal year 2015/16 rose 2.8 percent from a year earlier to 454,303 tonnes, due to a decline in domestic production, the Rubber Board said on Thursday. Natural rubber production fell 12.7 percent to 563,000 tonnes, while consumption eased 3.3 percent to 987,540 tonnes in the year ended March 31, the state-run body said in a statement.India imports natural rubber mainly from Indonesia, Vietnam and Thailand.Copyright Reuters, 2016 ...

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Spain trade deficit falls 13.6 pct in February y/y MADRID: Spain's trade deficit fell 13.6 percent in February from a year earlier to 1.76 billion euros ($1.99 billion), as imports outstripped exports, the economy ministry said on Thursday. Exports in February rose 2.7 percent compared to a year earlier to 20.39 billion euros, the highest level registered on record for that month, while imports were up 1.2 percent year on year to 22.15 billion euros, the ministry said.In the first two months of the ...

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China to strictly control credit for new coal, steel projects BEIJING: China will strictly control credit available for new capacity additions in the steel and coal sectors, both of which are suffering from price sapping supply gluts, the government said on Thursday. Beijing will also boost state support for the export of steel and coal by encouraging firms to shift capacity abroad as part of its efforts to ease domestic overcapacity, according to a joint statement issued by the central bank and several other government ...

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Venezuela to ration electricity in power crisis CARACAS:Recession-wracked Venezuela is to ration electricity in 10 of its most populous and industrialized states, including metropolitan Caracas, the socialist government said Wednesday.It is the latest drastic measure to alleviate a severe electricity crisis which President Nicolas Maduro and his government blame on the El Nino weather phenomenon that causes drought.Critics say it's the result of years of economic mismanagement.Luis Motta Dominguez, minister for electric power, made the announcement during a televised broadcast and said ...

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German economy grew robustly in Q1, outlook mixed BERLIN: The German economy is expected to have grown robustly in the first quarter led by private consumption and state spending, but the outlook for the rest of the year is less clear, the Finance Ministry said on Thursday. Growth in the first three months was driven by private consumption and state spending, it said in its monthly report, adding that overall tax income rose 7.1 percent year on year in March. Prospects for the ...

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China's March LNG imports up 37.7pc y/y BEIJING: China's imports of liquefied natural gas (LNG) jumped 37.7 percent year on year to 2.72 million tonnes in March, the country's General Administration of Customs said on Thursday. Copyright Reuters, 2016 ...

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Algeria Q1 trade deficit widens on low energy earnings ALGIERS: Algeria's trade deficit widened to $5.616 billion in the first quarter from $3.464 billion a year earlier due to lower energy earnings, official figures showed on Wednesday.Oil and gas exports, which account for about 93 percent of sales abroad, dropped 39.7 percent to $5.511 billion, according to customs data. Overall exports declined by 39.65 percent while imports were down 13.07 percent.The North African OPEC member country has been trying to reduce imports since crude ...