Crude prices drop

SINGAPORE: Crude futures fell on Tuesday and traded at $73 a barrel as traders pocketed profits on last week’s big gains. But oil prices would remain supported by tension over Iran’s nuclear ambitions and ahead of a deadline set by the UN. — AP

Business confidence

BERLIN: German business confidence rose to a 15-year high in April, a further sign that a recovery is taking hold in Europe’s largest economy. Its index of business sentiment rose to 105.9 from 105.4 in March. That was the closely watched index’s highest level since April 1991. — AP

Philippines imports

MANILA: Philippine imports in February rose by 4.6 per cent from a year earlier to $3.36 billion due to higher oil prices. Imports of electronic products for the key exporting sector slipped by 1.1 per cent to $1.61 billion but fuels and related goods rose by 23.9 per cent to $524.83 million. — AFP

Singapore’s economy

SINGAPORE: Singapore’s economy is unlikely to exceed last year’s growth rate of 6.4 per cent as expansion in the key electronics sector will slow in the near-term. Although at this stage, economic growth in 2006 is not expected to top last year’s 6.4 per cent, it is forecast to post 4-6 per cent. — AP