China's largest oilfield to reduce output
But the output target reduction may put pressure on Heilongjiang's economic growth. The preliminary estimate showed that GDP
and fiscal revenue of the province will decrease by more than 20 billion yuan (3.2 billion U.S. dollars) and about six billion yuan respectively in 2015.
In order to offset adverse impact of the output reduction on local economy,...
Steady growth in China's logistics demand
... In the first 11 months, costs rose 8.2 percent year on year to 9 trillion yuan, slowing 0.1 percentage point from the growth in the first ten months.
Earlier data showed China's gross domestic output (GDP
) expanded by 7.3 percent year on year in the third quarter of this year, the slowest quarterly growth since the first quarter of 2009....
Yearender: Philippines expects slower GDP growth this year
Philippines expects slower GDP
growth this year
by Alito L. Malinao
MANILA, Dec. 28 (Xinhua) Growth of the Philippine economy, one of the fastest growing in the Asia Pacific region, will be slower this year compared to that of last year,...
News Analysis: Tough year awaits Turkey's economy in 2015
... Dec. 27 (Xinhua) The expected low economic growth combined with the dim world economy prospect are main concerns for Turkey in 2015, experts said on Saturday.
The Turkish government projects four percent growth of the gross domestic product (GDP
) in 2015 while trying to keep the inflation rate at 6.3 percent by the end of 2015.
Economists said in a recently published survey that there is a slight decrease in Turkey's economic growth estimation in 2015....
Vietnam to post 5.98 pct GDP growth in 2014: Gov't
98 pct GDP
growth in 2014: Gov't
HANOI, Dec. 27 (Xinhua) Vietnam is expected to post an economic growth rate of 5.98 percent in 2014, the country's General Statistics Office said on Saturday....
Brazil Christmas sales fall for the first time in 11 years
..." the company said.
The figures reflect the poor performance of the Brazilian economy, which had a lackluster first half of the year and entered a technical recession in the second quarter.
In the third quarter, Brazil's gross domestic product (GDP
) grew by 0.1 percent, pulling the country out of a technical recession, but indicating a very low(GDP
)growth for the year.
The 2014 economic growth rate is expected to be announced in late February or early March....
Spotlight: Russia to continue hardline stance backed by stro...
On Dec. 15, the Russian Central Bank admitted that the economy could fall into recession in the next two years, while specific figures given by Deputy Economy Minister Alexei Vedev envisaged a 0.8percent decrease forecast of GDP
However, admitting that Western sanctions seriously damaged Russia's economy, Putin said at his yearend press conference that the economic situation was still on the normal track,...
China to add over 13 million jobs in 2014
..., China's human resources and social security minister, said Thursday at a work conference, without giving a specific figure.
The new jobs numbers will beat the government's fullyear target of at least 10 million jobs. China's gross domestic product (GDP
) expanded 7.4 percent year on year in the first three quarters.
At the end of September, China's urban registered jobless rate stood at 4.07 percent, lower than the annual employment control rate of 4.6 percent targeted by the government....
Vietnam to collect 40.11 bln USD for state budget in 2014: m...
Vietnam plans to spend 1,147 trillion Vietnamese dong (54.36 billion U.S. dollars) in 2015, up 13.9 percent over that in 2014, said Dung.
The country will try to keep state budget deficit less than 5 percent of its gross domestic product (GDP
) in 2015, VOV quoted Dung as saying....
U.S. stocks flat after Dow hits 18,000
NEW YORK, Dec. 24 (Xinhua) U.S. stocks ended nearly flat in a holidayshortened trading session on Wednesday, a day after the Dow Jones Industrial Average broke the 18,000point mark for the first time on upbeat U.S. GDP
Riding the Santa Claus rally, both the Dow and the S&P 500 set new record peaks of 18,086.24 points and 2,087.56 points before paring early gains to close almost flat, while the Nasdaq Composite Index rebounded from Tuesday's decline....
News Analysis: Presidential ballot uncertainty may lead to r...
... extending the period of political uncertainty for another one month and a half, if not more," according to economic analyst Dimitris Kontoyannis.
"This will have economic consequences, perhaps leading to a downward revision of GDP
growth next year and more austerity measures if the official lenders insist on Greece meeting the fiscal targets," said Kontoyannis....
U.S. initial jobless claims decline to 280,000
U.S. economy adds 321,000 new jobs in November, the largest gain since January 2012, while the unemployment rate stayed at a sixyear low of 5.8 percent in the month, according to the data of the Labor Department.
U.S. real gross domestic product (GDP
) increased at an annual rate of 5 percent in the third quarter this year, higher than the estimate of 3.9 percent, according to the final estimate released by the U.S. Commerce Department on Tuesday....
China ahead of schedule with 2014 energy targets
... China's top economic planner said Wednesday.
China's energy intensity the amount of energy consumed per unit of gross domestic product (GDP
) may fall by around 4.7 percent, said Xie Zhenhua, deputy head of the National Development and Reform Commission (NDRC), at a forum on Wednesday.
Earlier this year, it was decided that energy intensity must drop by 3....
Yearender: Vietnam keeps macro-economy stable in 2014 but mo...
In a report on socioeconomic situation in 2014 and targets for 2015 delivered at the yearend meeting of the National Assembly (NA) in Hanoi, Vietnamese Prime Minister Nguyen Tan Dung said the country's gross domestic product (GDP
) is estimated to grow by 5.8 percent this year, which is higher than the 5.42 percent(GDP
)growth in 2013.
In 2014, the country's total export earnings could post a year onyear increase of 12.1 percent (surpassing the set target of 10 percent),...
Canadian stock market rallies on oil rebound, upbeat economi...
...12 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery gained 1.58 dollars to close at 61.69 dollars a barrel.
Meanwhile, Statistics Canada said Tuesday that real gross domestic product(GDP
)grew 0.3 percent in October, better than expected. The agency attributes the rise to educational services, mining and oil and gas extraction as well as manufacturing.
"(The growth is) far surpassing expectations for a modest 0.1 percent gain....
Dow, S&P 500 extend record run on upbeat GDP data from U.S.
S&P 500 extend record run on upbeat GDP
data from U.S.
NEW YORK, Dec. 23 (Xinhua) U.S. stocks closed mixed Tuesday, with the Dow Jones Industrial Average closing above 18,000 milestone level and the S&P 500 continuing to set new record highs, as the U.S....
FTSE 100 rise on Tuesday
...6 percent in the third quarter, while remained its quarterly growth at 0.7 percent, data released by the Office for National Statistics (ONS) show on Tuesday.
It was the third estimate or the final reading of the gross domestic product (GDP
) of the third quarter. The ONS will release its first estimate on(GDP
)of the fourth quarter next month.
Britain's current account deficit was 27 billion pounds (42 billion U.S. dollars) in the third quarter of 2014,...
LME base metal prices decline on Tuesday
... Dec. 23 (Xinhua) The base metal prices on the London Metal Exchange (LME) closed lower mostly on Tuesday.
The U.S. economy in the third quarter grew at its fastest pace in more than a decade.
U.S. gross domestic product (GDP
) growth was revised to 5 percent in the third quarter from an initial estimate of 3.9 percent, representing the strongest rate of expansion since 2003, said the U.S. Commerce Department on Tuesday.
However, the good economic data from the U.S....
News Analysis: Ruble's slide adds pressure to Russian econom...
... That will be very important to assess the economic outlook for Russia," Tran said.
If oil prices stay at around 60 dollar a barrel for a long period, falling by about 50 percent since June, Tran expected Russia's Gross Domestic Product (GDP
) to decline by four to five percent next year, echoing Russian central bank's forecast of a 4. 5 to 4.7 percent contraction.
Aslund was more pessimistic, saying "Russia is going to face a significant period of severe economic situation."...
Oil prices advance on upbeat economic data
Dec. 23 (Xinhua) Oil prices rose Tuesday as U.S. gross domestic product (GDP
) for the third quarter came stronger thanexpected.
Light, sweet crude for February delivery moved up 1.86 U.S. dollars to settle at 57.12 dollars a barrel on the New York Mercantile Exchange....