Daily Archives: January 2, 2017

Man United beats 10-man West Ham for 6th successive win

LONDON, Rabi’II 4, 1438, Jan 2, 2017, SPA — Manchester United benefited from a controversial red card and an equally debatable goal to beat 10-man West Ham 2-0 in the English Premier League on Monday, earning a sixth successive victory, AP reported.Su…

Ministry of Environment, Water and Agriculture Bans Import of Live Birds, Hatching Eggs and Chicks from Serbia

Ministry of Environment, Water and Agriculture Bans Import of Live Birds, Hatching Eggs and Chicks from Serbia

الاثنين 1438/4/4 هـ الموافق 2017/01/02 م واس

Riyadh, Rabi’II 4, 1438, Jan 2, 2017, SPA — The Ministry of Environment, Water and Agriculture has issued a temporary ban on the import of live birds, hatching eggs and chicks from the Republic of Serbia following receiving a warning bulletin from the World Health Organization on an outbreak of an infectious strain of the bird flu in Serbia.
Various animal quarantines, health authorities and relevant government agencies were instructed to take the necessary action.
–SPA
13:27 LOCAL TIME 10:27 GMT

Kuwait Trade Surplus at KD 1.4 Billion in 3Q16

Kuwait, Kuwait’s trade surplus widened slightly for the second consecutive quarter in 3Q16 at KD 1.4 billion, thanks to a continued recovery in oil prices, Kuwait National Bank (NBK) said in a report Monday.

The report expect the surplus to continue to improve as oil earnings continue to edge higher against a backdrop of recovering oil prices, according to Kuwait News Agency.

The average oil price continued to trend upwards in 4Q16, and is set to continue to do so in the months ahead, especially following the announced production cuts by OPEC and non-OPEC producers.

The Kuwait export crude (KEC) price rose by 2% quarter-on-quarter (q/q) in 3Q16, pushing oil export revenues slightly higher to KD 3.3 billion, it pointed out.

Oil revenues are poised to move higher still in the near to medium-term, amid a sustained recovery in oil prices. KEC was up 7% q/q in 4Q16 to-date and is projected to climb higher on the back of planned oil production cuts at the start of next year. Oil export earnings were still down by 9% year-on-year (y/y).

Non-oil export earnings continued to trek higher on a quarterly basis, but were still down 12% y/y. Non-oil export revenues rose by 2% q/q in 3Q16, albeit at a slower pace compared to the previous quarter, after ethylene prices rose by a mere 1% q/q. Growth in non-oil export receipts are set to continue to rise on the quarter in 4Q16 but at a slower pace, as ethylene prices rose more slowly.

Imports contracted for the second straight quarter by 1% y/y in 3Q16, as growth in industrial supply imports slowed and consumer goods imports shrank from a year ago (Chart 3). Growth in industrial supply imports slowed from 15.6% y/y in 2Q16 to 5.7% in 3Q16, while consumer goods declined by 8.8% y/y. Passenger motor cars and food & beverages, which account for 40% of consumer imports, were down 12-15% y/y; declines are due to softer consumer demand as well as lower prices and a stronger dinar.

Capital goods imports remained robust which perhaps continues to be indicative of the government’s improved implementation of its development projects. Growth in capital goods imports, a good gauge of domestic investment, rose by an impressive 20% y/y in 3Q16.

Source: Qatar News Agency

English Scientists Research New Diabetes Medication

London, English scientists started developing a project to achieve a revolutionary diabetes medication which may substitute insulin injections. According to the BBC, the team have used some very clever chemistry to create a gel that only dissolves in t…

Chinese Yuan Weakens to 6.9462 Against USD Tuesday

Beijing, The Chinese currency yuan, weakened 3 basis points to 6.9462 against the US dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from th…

Chinese Yuan Weakens to 6.9462 Against USD Tuesday

Beijing, The Chinese currency yuan, weakened 3 basis points to 6.9462 against the US dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from th…

Qatar Financial Information Unit Holds Meeting on Charitable Activities

Doha, Qatar Financial Information Unit (QFIU) held a meeting on “AML/CFT (International Standards and Qatari Experience) its headquarters in the National Financial Crime Centre, in cooperation with the Regulatory Authority for charitable Activities and…

Sudan, Turkey Agree to Boost Mutual Trade and Investment

Khartoum, Al-Sadiq Mohamed Ali, state minister at the Sudanese Ministry of Foreign Trade, announced a Sudanese-Turkish agreement to establish strategic economic partnerships that involve joint ventures in the fields of free zones and investment as well…