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German ZEW index surges on weak oil, declining euro MANNHEIM: German analyst and investor sentiment rose sharply in December for a second month running, as a decline in the euro and the price of oil boosted hopes for a pickup in Europe's largest economy after it barely dodged recession in the third quarter.Mannheim-based think tank ZEW's monthly survey of economic sentiment climbed to 34.9 in December from 11.5 in November to reach its highest level since April. It was the biggest monthly gain in nearly two years, easily beating a Reuters consensus forecast for a reading of 20.0."Confidence in the German economy seems to be slowly returning among the financial market experts surveyed by ZEW. This increase is related to favourable economic conditions such as the weak euro and the low crude oil price," said ZEW President Clemens Fuest.He noted however that much of the optimism was being fuelled by factors that might prove fleeting.A separate gauge of current ...

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. ...
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 ...

 



 
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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