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Opec Warns Oil Demand may Fall Short of Forecasts

LONDON — World oil demand growth could fall short of forecasts in 2013 due to economic weakness, and US supply will hit its highest in three decades, the Organisation of Petroleum Exporting Countries (Opec) said on Tuesday, curbing the need for oil from the 12-member producer group. Opec’s monthly report left its forecast for growth in global oil consumption unchanged for now, still expecting an expansion o ...

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Egypt Not in Talks with IMF for Emergency Loan, Minister Says

Egypt is “not in need” of an emergency loan from the International Monetary Fund and is instead focusing its efforts on completing a $4.8 billion loan agreement with the lender, the country’s planning minister said. “Egypt wants to implement the fiscal and economic reform program as we have a number of structural problems,” Planning and International Cooperation Minister Ashraf el-Arab said in Cairo today. ...

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Afghans to showcase agro riches in Dubai

KABUL: Afghan traders are set to showcase their agricultural riches, ranging from saffron and pomegranates to apples and nuts, at a three-day exhibition in Dubai, the USAID said on Monday. Scheduled to be held at the Dubai World Trade Centre, the Gulfood Exhibition is the Middle East’s biggest annual food and hospitality show, bringing together thousands of buyers, suppliers, and food enthusiasts. With USAI ...

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Afghanistan’s Economy, a Victim of Politics

By Suleman Fatimie If Afghanistan is to sustain and build on the achievements of the past 10 years, it is imperative that serious attention and resources are mobilised to get the country's economy on its feet, Suleman Fatimie writes. Afghans face yet another deadline: 2014. The uncertainty continues. While the Afghan government's international partners want to stabilise and create an "Afghan good enough" en ...

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Obama to focus on economy in State of the Union address

The US economy is expected to dominate President Barack Obama’s state of the union speech later today. With unemployment stuck at eight percent, stagnant or falling wages and a middle class worrying for its future, analysts say Obama needs to use his personal popularity to build confidence. Apart from the ongoing gun control debate, analyst Professor Allan Lichtman said the speech will need to promise to pu ...

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Ahmadinejad defends Iran’s economic growth

Iranian President Mahmoud Ahmadinejad presented a report on progresses of the country before and after the 1979 Islamic Revolution, saying that before the Revolution, cement output was less than 7 million tons, but currently the figure is over 80 million tons. Moreover, 12 million tons of cement was exported within the current year, he added. According to the Mehr report, he said that before the Revolution, ...

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Global Waste to Biofuel Market On the Up

Toledo, Ohio based waste to biofuel company, N-Viro International (OTCQB: NVIC) has reported a positive trend in the global alternative fuels market seeking to convert organic wastes into energy. The company said that its own N-Viro Fuel technology can convert wastewater treatment biosolids, animal manures and other suitable organic wastes into a valuable alternative to coal for energy production. According ...

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Kabul Urges Islamabad to Enforce Transit Trade Agreement

KABUL: Hoping that Pakistan will remove hurdles in implementation of transit trade agreement between the two countries, Afghanistan on Sunday said they wanted close relations with Pakistan so that trade and economic relations could be promoted between the two neighbouring countries. Janan Musazai, spokesman for Afghan foreign ministry, told weekly press conference that Afghanistan wanted full implementation ...

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Spain upsets Europe’s recovery

European shares edged up but the euro fell and German bonds trimmed their losses today as a resurgence of worries about Europe undermined positive sentiment stemming from stronger U.S. and Chinese economic data. However, the rising confidence in the global economic recovery underpinned oil and copper, although prices moved in narrow ranges at the start of a week which sees policy meeting by several major ce ...

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IMF: Fragile and timid recovery in 2013

Davos, Switzerland. The global economy faces fewer headwinds in 2013 compared with last year and will likely grow a modest 3.5 per cent, participants at the 43rd World Economic Annual Meeting were told here last week. But Ms Christine Lagarde, managing director, International Monetary Fund (IMF), described the recovery as “fragile and timid” because the Eurozone is prone to political crisis and slow decisio ...

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International Center for Afghan Women’s Economic Development

On January 31, U.S. Ambassador to Afghanistan James B. Cunningham, along with USAID Mission Director Ken Yamashita, joined the President of the American University of Afghanistan (AUAF) and other guests in a convocation ceremony celebrating the beginning of the semester of classes. Highlighting the long-term commitment of the United States to education in Afghanistan, Ambassador Cunningham spoke about the n ...

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Asian markets mostly up ahead of key data

Asian markets mostly rose on Tuesday as traders awaited key economic data out of the United States and China later in the week and the start of the corporate earnings season. Tokyo climbed 0.39 percent, or 42.41 points, to 10,866.72 and Sydney jumped 1.11 percent as dealers returned from a long weekend, the index adding 53.8 points to end at 4,889.0. Seoul added 0.84 percent, or 16.25 points, to 1,955.96, w ...

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China figures shore up markets

LONDON (AP) — Mounting hopes over China's economy combined Friday with signs that the U.S. recovery is gaining traction to shore up markets, particularly in Asia. Following a lackluster start to the week, investors have since been cheered by the signals showing the two world's largest economies have started 2013 in relatively rude health. Many stock indexes around the world, including the Dow, are trading a ...

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Afghan Economy: A Promising Prospect?

The World Bank released a report on Tuesday on Global Economic Prospects for 2013. According to the report, Afghanistan will still enjoy a high rate of growth, despite all concerns related to US-NATO drawdown and the possible shrinking of the international aid to the country. The report said that Afghanistan has emerged as the fastest-growing economy in South Asia, with double-digit rate of 11 percent in 20 ...

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German economic woes erode market gains

LONDON (AP) — Evidence that Germany's economy contracted in the last three months of 2012 hurt global stock markets on Tuesday, offsetting more upbeat U.S. figures showing retail sales rose during the holiday month of December. Germany's main stock index, the DAX, fell 0.7 percent to close at 7,675.91 after the government said the economy grew only 0.7 percent in 2012, which indicates activity dropped in th ...

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383.5m Old Banknotes Set on Fire in Kandahar

Kandahar - A visiting Afghanistan central bank's delegation on Monday said it had torched old banknotes amounting to 383.5 million afghanis after their collection in southern Kandahar province. Headed by Da Afghanistan Bank deputy president, Mohammad Esa Tarab, the 12-member delegation, accompanied by officials of other departments and lawmakers, arrived in Kandahar city, the provincial capital, a day earli ...

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US Vows $1 Billion in Annual Aid to Afghanistan: Zakhilwal

Kabul - The United States of America has vowed to provide $800 million to $1 billion in annual aid to Afghan government, Afghan finance minister Hazrat Omer Zakhilwal on Sunday said. He was speaking during the cabinet meeting led by Afghan Hamid Karzai and said the United States has vowed to provide the funds to the Afghan governemnt which was previously spent in Afghanistan through private contracts. Mr. Z ...

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