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Germany's Jan-Oct gas import bill down 20pc FRANKFURT: Germany's natural gas import bill for the first 10 months of the year fell 20.1 percent from a year earlier on lower prices and volumes, data from trade statistics office BAFA showed on Tuesday.The bill fell to 18.7 billion euros from 23.4 billion, BAFA said, as import volumes fell 5.4 percent to 2,872,565 terajoules.One terajoule is equivalent to 278,000 kilowatt-hours.Russia accounted for 39.2 percent of deliveries, Norway 33.0 percent and the Netherlands 23.3 percent. Smaller volumes came from Britain and Denmark.Imports from Russia have not been affected by the Ukraine crisis as much of this gas bypasses Ukraine, coming via routes including the Nord Stream pipeline which crosses the Baltic Sea.Many continental European gas prices under long-term supply contracts still track crude oil prices with a time lag of about six months, although spot market volumes are rising. Copyright Reuters, 2014 ...

IMF official: no need for GCC to cut spending much as oil falls DUBAI: The oil price plunge is likely to have a significant impact on state revenues in the Gulf Cooperation Council, but GCC nations have big reserves so in general they will not need to cut state spending significantly, a senior International Monetary Fund official said on Tuesday. Harald Finger, the IMF's head of mission for the United Arab Emirates, was speaking at a financial conference attended by senior UAE economic officials. As a matter of ...
India's Nov gold imports at 151.58 tonnes MUMBAI: India's gold imports in November reached 151.58 tonnes, according to data provided by India's trade ministry on Tuesday, marking a 38 percent increase from 109.55 tonnes in October. Data on Monday had showed gold imports, by value, had jumped 34 percent in November to $5.61 billion from October, sending India's trade deficit to a 18 month high. Copyright Reuters, 2014 ...
UAE economy minister says can keep spending despite oil DUBAI: The large fiscal reserves which the United Arab Emirates has built up will allow it to keep spending on development projects in coming years despite the recent plunge in oil prices, the economy minister said on Tuesday. Although some people are worrying about oil prices, the UAE is expected to cope with the drop, Sultan bin Saeed al-Mansouri told a financial conference. If sustained, the drop of Brent crude oil to near $60 a ...
Malaysia November inflation seen easing to 2.7pc y/y KUALA LUMPUR: Malaysia's annual inflation rate may have eased slightly in November, a Reuters poll showed, as falling global commodity prices kept consumer prices in check.The median forecast in the poll was 2.7 percent, against October's 2.8 percent.Due to falling oil prices, the government decided to float consumer fuel prices for the time being, with a month-to-month review beginning in December.But As Brent prices continue to slide and trade below $65, economists warn that the ...
Malaysia extends export duty exemption on crude palm oil until Jan KUALA LUMPUR: Malaysia, the second-largest palm grower, extended its export duty exemption on crude palm oil until January, a circular from the Malaysian customs department showed on Tuesday. Malaysia first scrapped its export taxes for the crude grade for September and has kept that unchanged until December, as it looked to encourage overseas sales and cushion the fall in prices which have tumbled nearly 20 percent this year. Industry players had expected Malaysia to carry ...
Taiwan Nov export order growth seen at +8.8pc y/y, below Oct pace TAIPEI: Orders for Taiwan's exports in November may have grown 8.8 percent from a year earlier, a Reuters poll showed, which would be significantly slower than the previous month's surge.The median result in a Reuters poll of 11 analysts shows November's rise in export orders would moderate from the 13.4 percent year-on-year gain notched in October.Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets, and typically lead actual ...

 



 
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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