ALGIERS Ernie Banks Jersey , Dec. 2 (Xinhua) -- Algeria said it's not worried about the repercussions of the plunge of oil prices in the global market over its economy and financial balances, the state-run TV channel reported.


"Algeria has some useful mechanisms that would help it resist to financial shocks," Finance Minister Mohamed Djelab said in a statement, referring to the oil price drop.


The minister further added that the oil-rich country "has been adopting a preventive policy for more than ten years, including the Oil Revenue Regulation Fund, which helps the nations compensating repercussions of oil prices plunge."


"Algeria has been able to pay its foreign debts Drew Smyly Jersey , and eventually enabled the country to secure huge financial reserves," he said.


The Regulation Fund for Oil Revenues was established by President Abdelaziz Bouteflika in 2000. The fund receives oil extra revenues based on a reference price of 37 U.S. dollars a barrel, which is set by the government in its annual budget.


Algeria's government expects the fund to collect some 90 million dollars by the end of this year, or the equivalent of 39.7 percent of its annual gross domestic product.

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HELSINKI, June 8 (Xinhua) -- Australian men's team beat their China counterparts 3-0 in a Group 2 match of the International Volleyball Federation (FIVB) World League, held at the Hartwall Arena in Helsinki David Ross Jersey , Finland on Thursday.


Australia won the three games outright by 25-22, 25-13 and 25-21.


Paul Carroll scored 16 points, Nathan Roberts scored 13, and Samuel Walker 11 points for Australia. The top scorer for China was Jiang Chuan with 11 points.


Carroll said his team played ""way better"" than in Slovakia.


""We had glimpses of good volleyball in Slovakia, but today we were able to play a consistently great match,"" he told media following the match.


Chinese captain Zhong Weijun said his team was not in a condition to react at all.


""We were subjected to Australian dominance in all techniques Carlos Zambrano Jersey ,"" he said. He told Xinhua that Australia played ""unexpectedly well.""


Before the match on Thursday, China ranked in fourth place in Group 2, and Australia ranked the 10th.


The four teams from Australia, China, Slovakia and Finland are competing in three rounds in Helsinki on Thursday, Friday and Saturday.


During the weekend Brandon Morrow Jersey , FIVB World League Group 2 matches will also be held in Takasaki, Japan and Ceske Budejovice, the Czech Republic.



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CAPE TOWN, May 16 (Xinhua) -- The 17th annual African Utility Week kicked off in Cape Town on Tuesday, highlighting a pledge of commitment by the water industry to ensure a water resilient future.


The event came as South Africa and some other countries in Africa were experiencing a severe drought that had not be seen in decades.


African Utility Week always has a strong focus on water and this year key water industry stakeholders and water utilities from across the continent will take part in signing a pledge to commit to FLOW (For Love of Water), said Justin Friedman Billy Williams Jersey , founder of FLOW, a civil organization dedicated to the conservation of water.


""We will ask participants to commit time, money, resources, energy, actions Ben Zobrist Jersey , or all of these, to make a significant impact on water consumption and conservation and to make this pledge towards their commitment to champion water conservation. We will keep track of their progress and announce the results and successes at next year's conference,"" Friedman said.


The conference programme will address the latest challenges, developments and opportunities in the power and water sectors: ranging from generation, T&D (transmission and distribution), metering Anthony Rizzo Jersey , technology and water.


South Africa's nuclear future will also feature high at the event.


""If simple, honest energy planning is done, nuclear should form the foundation of South Africa's energy supply,"" said Anthonie Cilliers, Programme Manager of Nuclear Engineering at South Africa's North West University.


Cilliers was part of a panel discussion at Nuclear Power Africa as part of African Utility Week.


""I believe nuclear energy is being misrepresented by many parties because it does not fit personal interest. Nuclear power is on record the safest energy source of all, it is clean and provides the most stable form of electricity available today Andre Dawson Jersey ,"" he said.


Unfortunately nuclear energy has large capital costs attached to it making it difficult for private investors to have an appetite for it, according to Cilliers.


""When deployed it will, however, provide in all our energy needs - taking away private investors' opportunity to make money,"" he added.


South Africa's nuclear program hit a snag last month when the High Court in the Western Cape ruled that the government's nuclear deal is ""unconstitutional and unlawful.""


The court ordered the government to set aside the deal which would see the procurement of 9.6 gigawatts of nuclear energy.


The deal is expected to cost one trillion rand (about 77.5 billion U.S. dollars).


The South African government has been pursuing the nuclear program to make up power shortage which is expected to stall growth in gross domestic product.


African Utility Week is the flagship energy event organized by the multi-award winning Spintelligent, a leading Cape Town-based trade exhibition and conference organizer Albert Almora Jr Jersey , and part of Clarion Events Ltd, based in the UK.


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