China confident of achieving key 2019 economic targets: vice premier

Vice Premier Han Zheng reiterated that China will further deepen market-oriented reforms and open up its economy. (Reuters)
Updated 24 March 2019
0

China confident of achieving key 2019 economic targets: vice premier

  • China targets economic growth of between 6 percent and 6.5 percent for the year, compared with 6.6 percent growth last year

BEIJING: China’s economy may face a more challenging environment this year but the government is nevertheless confident of achieving its key 2019 targets, Vice Premier Han Zheng said on Sunday.
Han, speaking at the China Development Forum, reiterated that China will further deepen market-oriented reforms and open up its economy. He also said China’s imports of goods are expected to exceed $12 trillion in the next five years.
China targets economic growth of between 6 percent and 6.5 percent for the year, compared with 6.6 percent growth last year.


UN compensation panel pays out $270m for Kuwait oil company

Updated 23 July 2019
0

UN compensation panel pays out $270m for Kuwait oil company

  • The panel has approved 1.5 million claims brought by over 100 governments and international organizations
  • Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid

BERLIN: A United Nations panel that oversees compensation claims stemming from Iraq’s 1990-1991 invasion of Kuwait says it has paid out $270 million to Kuwait’s national oil company.
The Geneva-based UN Compensation Commission said Tuesday the tranche brings to $48.7 billion the amount it has paid out. Iraq must currently set aside 1.5% of proceeds from oil exports for the compensation fund and payments are made once per quarter.
The panel has approved 1.5 million claims brought by over 100 governments and international organizations, with all but one fully paid out.
The remaining claim, which includes the latest payment, comes from the Kuwait Petroleum Corporation. Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid.