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Global oil output hit new record pending promised OPEC cuts
PARIS (AP) — The International Energy Agency says global oil production climbed higher in October — even after OPEC pledged to curb output in hopes of driving up prices.
The IEA said in its monthly oil report Thursday that revived production in Iraq, Libya and Nigeria pushed OPEC production to a record level of 33.83 million barrels a day. That offset a production drop by non-OPEC members.
Meanwhile, demand for oil in leading countries is shrinking amid an economic slowdown.
Low crude prices have helped consumers but damaged oil-dependent economies. So OPEC members promised in September to cut production to between 32.5 million and 33 million barrels a day. They are meant to finalize the deal in Vienna this month.
Brent crude, the international standard, traded at $46.48 a barrel Thursday.
Logistics sector set to contribute 8-10 pct to GDP by 2025
Vietnam’s logistics sector aims to contribute 8-10 percent to gross domestic product (GDP) by 2025, heard a conference hosted by the Ministry of Industry and Trade (MoIT) in Hanoi on March 6. MoIT Deputy Minister Tran Quoc Khanh said the plan to improve the sector’s competitiveness till 2025 also aims to achieve 15-20 percent services growth and an outsourcing ratio of 50-60 percent, reduce costs by 16-20 percent of GDP and have the sector rank 50th or better globally in terms of national… chat_bubble_outline Read More...
Vietnam economy expands 6.21% in 2016: official data
The target set by the National Assembly at the start of the year was 6.7%. The official growth rate for 2016 was also lower than the 6.3% projection made by the National Financial Supervisory Commission. The agricultural sector increased by 1.36%, the slowest pace since 2011, while industrial production and services grew by 7.57% and 6.98% respectively. Vietnam’s per capita GDP was estimated at US$2,215, up US$106 from a year earlier, the GSO reported. The consumer price index (CPI) in December… chat_bubble_outline Read More...
Police investigate destruction of Trump's Hollywood star
LOS ANGELES (AP) — Los Angeles police are investigating a pre-dawn attack that destroyed Republican presidential candidate Donald Trump's star on the Hollywood Walk of Fame less than two weeks before the election.The Hollywood Chamber of Commerce, which bestows the stars and maintains the popular tourist attraction, said it would quickly repair Trump's spot, but it would take several days before it would visible.Det. Meghan Aguilar said investigators were called to the scene Wednesday following… chat_bubble_outline Read More...
Will mushroom clouds turn Ohio voters away from Donald Trump?
A new TV ad evoking one of the most famous political ads in U.S. history is painting Republican presidential nominee Donald Trump as too dangerous to be commander-in-chief. And it’s not subtle about it.The spot from the Fifty Second Street Fund, a newly formed super PAC targeting Ohio voters, features footage of an atomic bomb detonating.“One nuclear bomb can kill a million people,” a narrator says as a mushroom cloud erupts. “That’s more than all the men, women and children living in Columbus,… chat_bubble_outline Read More...
Vietnam receives great attention from Korean investors
Vietnam has been attracting a lot of attention from investors in the Republic of Korea (RoK) thanks to her active global economic integration and engagement in free trade agreements. Director of the Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi Park Chul Ho made the remark in an interview granted to Cong Thuong (Industry & Trade) newspaper on the occasion of the RoK’s participation in the Vietnam International Trade Fair (Vietnam Expo 2017) in April as an honourary country.He said… chat_bubble_outline Read More...