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LISBON Adidas Ryan Getzlaf Jersey , Aug. 28 (Xinhua) -- Portugal's Gross Domestic Product (GDP) was expected to grow 1 percent this year, Finance Minister Maria Luis Albuquerque revealed on Thursday.


Speaking at a press conference on the presentation to the Parliament earlier in the day of the country's second amended budget this year, Albuquerque said Portugal's economy would grow 1 percent, indicating that the country is able to reach its deficit target of 4 percent of GDP this year.


This was good news for the government as it feared that recent rulings against several austerity measures by the country's Constitutional Court could put its deficit reduction targets at risk.


Albuquerque also revealed that Portugal's unemployment rate was expected to fall from the previously estimated 17.7 per cent to 14.2 percent by the end of this year while its gross debt would reach 130.9 percent of its GDP, 0.7 percentage points higher than the previous estimate in April of 130.2 percent.


The debt-laden country has been applying harsh austerity since it signed a 78-billion-euro bailout program with its international lenders -- the European Commission Adidas Andrew Cogliano Jersey , the International Monetary Fund and the European Central Bank in May 2011.


The country ended its bailout program in May this year but the government insisted on tax increases and spending cuts to put its economy back on track. Prime Minister Pedro Passos Coelho was now focusing more on cutting spending after heavy taxes last year.


On Tuesday, following a three-hour cabinet meeting in the capital city of Lisbon, the government confirmed that the amended budget had been approved "without any recourse to alterations of fiscal nature," and insisted that the government's deficit of 4 percent of GDP for 2014 was possible without a further tax hike.


HOUSTON, Jan. 29 (Xinhua) -- ConocoPhillips Adidas Cam Fowler Jersey , the world's largest independent oil and gas company, on Thursday reported a loss in the final quarter of 2014 and slashed its capital budget for the second time this year in response to the plummeting crude prices.


The Houston-based company announced in a statement released Thursday that it saw a net loss of 39 million U.S. dollars, or about 3 cents per share, compared with a 2.5 billion U.S. dollars or 2.00 dollars per share performance in the fourth quarter of 2013.


Its full-year 2014 earnings were 6.9 billion U.S. dollars, or 5.51 U.S. dollars per share Adidas Corey Perry Jersey , compared with full-year 2013 earnings of 9.2 billion U.S. dollars, or 7.38 U.S. dollars per share.


In anticipation of weak 2015 commodity prices, the company also further reduced its expected 2015 capital expenditures to 11.5 billion U.S. dollars from the 13.5 billion U.S. dollars previously announced.


Reductions will come primarily from the deferral of onshore drilling and exploration programs in the Lower 48, and deferral of major project spending. At this level of capital, the company expects to achieve 2-3 percent production growth in 2015 from continuing operations Authentic Ryan Kesler Jersey , excluding Libya.


"We are responding decisively to a weak price outlook in 2015 by exercising our capital and balance sheet flexibility," said Ryan Lance, chairman and chief executive officer. "In this environment our priorities are to protect our dividend and base production, stay on track for cash flow neutrality in 2017, and preserve future opportunities."


ConocoPhillips' latest announcement came as oil companies began announcing spending cuts and job cuts following a steep slide in oil prices since last summer. Analysts expect most energy companies to cut their 2015 spending by 20 percent or more.


ConocoPhillips was created through the merger of Conoco Inc. and the Phillips Petroleum Co. in 2002. It is the world's largest independent pure-play exploration and production company and the third-largest U.S. energy producer behind ExxonMobil and Chevron.

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WASHINGTON Authentic Ryan Getzlaf Jersey , Jan. 30 (Xinhua) -- U.S. President Donald Trump said in his first State of the Union address on Tuesday that he had signed an order to reexamine the U.S. military detention policy and to keep open the detention facilities at Guantanamo Bay in Cuba.


""In the past, we have foolishly released hundreds of dangerous terrorists, only to meet them again on the battlefield -- including the ISIS leader, al-Baghdadi,"" Trump said. ""So today Authentic Andrew Cogliano Jersey , I am keeping another promise.""


""When possible, we annihilate them. When necessary, we must be able to detain and question them. But we must be clear: Terrorists are not merely criminals. They are unlawful enemy combatants. And when captured overseas, they should be treated like the terrorists they are,"" he said.


Hundreds of detainees were transferred to sites in the United States or sent to their home countries under President Barack Obama Authentic Cam Fowler Jersey , who failed to close the prison center.


Critics accused the center of having been plagued by crimes of torture.

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