Iraq to double exports

BAGHDAD:

Iraq intends to increase its crude exports to three million barrels per day (bpd) in the coming period, almost double the current levels, the Baghdad daily al-Mada reported. “The pace of the production of crude at southern fields will be increased to a level such that three million barrels per day are exported,” oil minister Ibrahim Bahr al-Ulum said. — DPA

French inflation rises

PARIS:

The recent surge in oil prices helped send consumer prices higher in France in August after falling in July. In its latest monthly survey of prices, August’s consumer price index edged up by 0.4 per cent on the month, more than reversing a 0.2 per cent month-on-month drop. — AP

Australia hails IMF

CANBERRA:

The government welcomed a positive IMF report on the Australian economy as an endorsement of its proposed sweeping labor law reforms. Treasurer Peter Costello highlighted the annual report’s findings that further reforms of labour laws were needed to expand labour demand in Australia. — AP