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Oil prices extend gains in Asia SINGAPORE: Oil prices rose in Asia Monday, lifted by a surge in equities following last week's sharp gains on Wall Street, but analysts said prices remain weighed by weak demand in an oversupplied market.US benchmark West Texas Intermediate for delivery in November climbed 47 cents to $83.22 a barrel in late-morning trade and Brent crude for December added 17 cents to $86.33.Both contracts ended marginally higher last week thanks to a minor dip-buying rally after prices tanked to multi-year lows.Wall Street's three main indexes surged Friday on bargain-hunting and following upbeat earnings from General Electric and Morgan Stanley.The Dow added 1.63 percent, the S&P 500 jumped 1.29 percent and the Nasdaq gained 0.97 percent.Adding to buying sentiment were dovish comments from officials at the US and British central banks at the end of the week.However any gains for oil prices will be tempered by weak energy demand as the global ...


JSW curbs coal production, investment hit by lower coal prices WARSAW: Poland's JSW, the largest coking coal miner in the European Union, cut its 2014 production target by 9 to 12 percent and slashed investment in an effort to regain profitability after steep falls in coal prices.State-controlled JSW, which swung to a net loss of over $100 million in the first half of the year, said in a statement late on Friday it planned to produce 13.8 million to 14.0 million tonnes of coal in ...

Oil rises above $86 as investors say market oversold LONDON: Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices. "Prices have likely overshot ...

Oil market rebounds LONDON: World oil prices rebounded Friday on bargain-buying, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.US benchmark West Texas Intermediate for November added $1.29 to $83.99 a barrel.Brent North Sea crude for delivery in November won $1.24 to stand at $87.06.WTI ...

Oil rebound extends in Asia SINGAPORE: Oil prices extended a minor rally on bargain-buying Friday, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.West Texas Intermediate (WTI) for delivery in November was up 60 cents at $83.30 a barrel in late-morning trade and Brent rose 74 cents ...

Oil rises above $87 as investors say market oversold LONDON: Brent crude rose more than a dollar to above $87 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold in the short term.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices."Prices have likely overshot to ...

US oil to retrace to $81.70 SINGAPORE: US oil is expected to retrace further to $81.70 per barrel and then rise towards $82.89 as indicated by its wave pattern and a Fibonacci retracement analysis.The sharp gain from the Oct. 16 low of $79.78 was driven by a wave (4), the fourth wave of a five-wave cycle that developed from the Sept. 30 high of $94.90.This wave will consist of three waves, so far, only the first wave labelled a has completed ...


 



 
IndexClosingChg%
ArrowDJIA 16,380.41 1.63
ArrowNasdaq 4,258.44 0.97
ArrowS&P 1,886.76 1.29
ArrowFTSE 6,310.29 1.85
ArrowDAX 8,850.27 3.12
ArrowCAC-40 4,033.18 2.92
ArrowNikkei 14,532.51 1.40
ArrowH.Seng 23,023.21 0.53
ArrowSensex 26,108.53 0.42





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln