China's trade surplus beats forcasts
Beijing: China has registered a trade surplus of $15.3 billion for September which was below the record of $18.8 billion in August but more than expected. The customs administration said exports last month rose 30.6 per cent from a year earlier to $91.6 billion, while imports increased 22.0 percent to $76.3 billion.

The surplus, which economists said was boosted by pre-Christmas sales, was more than double that of $7.57 billion in September and beat forcasts of $13.7 bn. China's surplus for the first 9 months was $109.85 billion, already more than the $102 billion recorded in all of 2005. China's export prowess has drawn fire from critics who say Beijing is handing its manufacturers an unfair advantage by holding down the value of the yuan.
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Saudi Arabia opens up insurance market
Dubai: Saudi Arabia has given licences to 13 new insurance companies, including an Indian joint venture, as part of opening up its market after joining the World Trade Organisation (WTO). The move is expected to create thousands of jobs.

The new companies include Indian joint venture Saudi Indian Insurance, Gulf Union Cooperative Insurance, Arabian Shield Insurance, Sanad for Cooperative Insurance, Saudi United Cooperative Insurance (Amity) and Assurance Saudi Fransi.
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