30 July - 05 August 2016

In 2015, the combined output of the chemicals sectors grew by 8.9% y/y to HUF 4,369 bn. Export sales were up by 12.3% y/y to HUF 2,956 bn in 2015, while domestic sales inched up by 2.9% y/y to HUF 1,403bn. Imports of chemical sector products also grew by 7.0% y/y and reached EUR 11,683mn (HUF 3,622bn).

MEXICO OIL AND GAS: OPPORTUNITY KNOCKS

Oil and gas is the 13th biggest sector of the Mexican economy, accounting for 2.3% of the country’s GDP, 0.3% of the employment, 6.1% of national exports and 21% of government revenues in 2015.

HUNGARY AGRICULTURE: LAND OF THE SMALL FARMERS

The Hungarian agriculture sector is very fragmented with most agricultural businesses being domestically owned sole proprietorships and traditional small-scale producers.

President Rodrigo Duterte has issued a warning to mining companies to comply with strict rules or close down.

For the month of July, most automotive firms saw increased sales due to sport utility vehicles (SUVs) and new compact car models.

A top British diplomat said that the UK is still likely to forge a bilateral deal with the Philippines despite the UK’s exit from the European Union (EU).

The World Bank will allocate a $100 million loan for Paraguay to help cut transport costs and improve road safety of the country’s road network.

Bolivia’s gross domestic product (GDP) expanded 4.95% in the first quarter of this year, following a 4.66% growth in the same period of last year.

China has secured Argentina with $25 billion loans for energy and infrastructure projects in the first half of this year newswire BNA reported.

Russia and Turkey have resumed talks on Turkish Stream natural gas pipeline project aimed to bring Russian natural gas across the Black Sea to Turkey and southeastern Europe.

Ukraine may turn the nuclear wasteland surrounding Chernobyl into a solar farm, 30 years after the nuclear disaster there.

The failed coup attempt on July 15 against the administration of the Turkish President Recep Tayyip Erdogan has cost 300 billion lira ($100 billion/90 billion euro) to the national economy.

Kuwait plans to invest 4.75 billion dinars ($15.75 billion) under its development plan for 2017 and 2018, Al Bawaba - Arabian Business reported.

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The Nigerian government has said that needs 1.3 million teachers in the next six years, Vanguard-Nigeria reported on Wednesday.

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Kuwait’s government decided on Monday to increase gasoline prices by up to 73% as of September, Al Bawaba - Arabian Business reported.

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