Friday 7 October 2022 \

 

economy

Crude Oil and condensates missed in Iran’s trade statistics

Source : Trend.az / 23 May 2013

Iranian Customs Administration director Abbas Memarnejad announced that Iran exported $41.5 billion worth of non-oil goods, while it imported $53.3 billion worth of non-oil goods during the past Iranian calendar year, which ended on March 20.

 

Pakistan approves 100,000 tons of wheat for Iran to pay for power

Source : Reuters / 20 May 2013

Islamabad has authorized the export of 100,000 tons of wheat to Iran in trade not jeopardized by Western sanctions, to settle dues for electricity supplied to Pakistan’s energy-starved border areas, the Commerce Ministry said on Friday.

The shipment of 100,000 tons was to have been delivered to Iran in mid-February but was delayed by preparations for Pakistan’s May 11 election.

 

Change looms for Ethiopia’s ancient salt trade

Source : Reuters | 18 May 2013

Abdu Ibrahim Mohammed was 15 years old when he began trekking with caravans of camels to collect salt in a sun-blasted desert basin of north Ethiopia that is one of the hottest places on earth.

 

Greater Arab free trade: Higher hydrocarbon prices boost surplus

Source : Arab news / 13 May 2013

The trade of the 18 countries in the Greater Arab Free Trade Area (GAFTA) grew 11 percent in 2012 to $ 2.1 trillion, according to new IMF trade data. This built on two prior years of strong trade growth of over 20 percent. However, most of the increase is the result of higher hydrocarbon prices rather than increases in the real volume of trade, according to QNB Group.

 

U.S. senators seek to block Iran from billion-dollar reserves

Source : Reuters / 10 May 2013

Legislation introduced by a bipartisan group of U.S. senators on Wednesday would block Iran's access to billions of dollars worth of foreign currency reserves in the latest congressional effort to slow development of the Islamic Republic's disputed nuclear program.

 

Egypt eyes 5.5% budget deficit in 2016-17, says finance minister

Source : Reuters / 6 May 2013

Egypt hopes to lower its budget deficit to 5.5 percent in the 2016-1017 fiscal year from 10.7 percent in 2012/13, the finance minister told Egypt's Al-Ahram daily newspaper on Saturday.

Egypt's budget deficit will reach 197.5 billion Egyptian pounds ($28.7 billion) or 9.5 percent of gross domestic product in the fiscal year starting July 1 after a revised 184.9 billion pounds or 10.7 percent in 2012/13, according to a draft budget previously seen by Reuters.

 

Morocco fair promotes self-sufficient agriculture in effort to cut imports

Source : Reuters / 29 Apr 2013

For the eighth year in a row, the central Moroccan city of Meknes hosted its annual agriculture event, attracting over 1,000 exhibitors from around the world.

This year’s International Agriculture Fair focused on food security and self-sufficiency, as many countries seek to reduce their dependence on imported foods.

 

Iran economy on road to recovery as domestic production grows

Source : Reuters / 24 Apr 2013

Iran's economy has become more robust as domestic production has grown to offset a 14 percent fall in imports in 2012, sparked by a drop in its currency value, after the central bank was hit by economic sanctions, Iran's finance minister said on Tuesday.

 

Oil pushed towards $100 a barrel

Source : Reuters / 20 Apr 2013

Oil prices pushed towards $100 a barrel on Friday, recovering some ground after a steep six-day fall as bargain hunters stepped in, although worries about global demand and oversupply kept a lid on the rebound.

Analysts said the market seemed to be stabilising after a week of heavy liquidation, in which prices tumbled from over $106 along with a rout in gold and industrial metals.

 

Unemployment in Mena young people is world's highest

By Saifur Rahman / 15 Apr 2013

Unemployment rate among young people in the Middle East and North Africa (Mena) region is the highest in the world, said a latest World Bank report which warned of a ‘high levels of vulnerability’ if governments do not take urgent steps to create jobs and ensure inclusive growth.

 
 

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