Kenya ceases import of Iran oil

Note: This section contains information in English only.
Source: BBC
Kenya has stopped crude oil import from Persian Gulf after US and EU sanctions came into effect amid concerns about Iran`s nuclear program. The contract signed previous month stated an agreement to import at around 4 million tonnes of  crude oil from the Iranian National Oil Company. However, according to Patrick Nyoik, permanent secretary of the energy ministry, international pressure has forced to change that arrangement.
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Thu, 05 Jul 2012 10:16:41 GMT

South Korea may cut interest rates

As Credit Suisse cited, the Central Bank in South Korea plans to lower the interest rates during their administration session on July 12. The consumer inflation slowed to annualized 2.2% last month after averaging at 5.3% in 2011. The speculation about rate cuts appeared after previous meeting of the central bank that resulted in no changes in the interest rates.

Thu, 05 Jul 2012 12:36:40 GMT

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