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Oil prices jump more than 10pc on strong US data NEW YORK: World oil prices surged more than 10 percent Thursday after strong US economic growth data lifted confidence about the world's biggest economy and petroleum user.US benchmark West Texas Intermediate (WTI) for delivery in October jumped $3.96 to $42.56 a barrel.European benchmark Brent oil for October delivery gained $4.42 at $47.56 a barrel in London.Both WTI and Brent closed up 10.3 percent from Wednesday's settlements.US prices had been at or near six-and-a-half year lows all week, with WTI closing below $40 on Monday for the first time since 2009 and staying there through Wednesday.The rally came after the Commerce Department reported the US economy expanded at an annual rate of 3.7 percent in the second quarter, much above the initial appraisal of a 2.3 percent gain.The more robust April-June growth mainly reflected higher investment, state and local government spending, and consumer spending than was reported in the initial estimate.The ...


Oil prices up in Asian trade SINGAPORE: Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating ...

Oil dips after mixed US petroleum supply report NEW YORK: Oil prices dipped Wednesday after US petroleum data showed lower crude-oil inventories but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery shed 71 cents at $38.60 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for October delivery lost seven cents at $43.14 a barrel in London.Crude supplies in the United States fell by 5.5 million barrels for the week ending August 21, according ...

Oil firms before US energy report LONDON: Oil prices turned higher Wednesday but remained near six-year lows ahead of the latest US energy report after jitters over China's faltering economy spurred heavy losses earlier this week. US benchmark West Texas Intermediate (WTI) for October delivery added just six cents to $39.37 per barrel.Brent North Sea crude for October climbed 14 cents in midday London deals to $43.35.Both contracts gained on bargain-hunting Tuesday, after plummeting to their lowest levels since early 2009 ...

Australia's coal city backs green future SYDNEY: Australia's city of Newcastle, which claims the world's biggest coal export port, said Wednesday it will pull money out of fossil fuel industries as it invests in more sustainable enterprises.Newcastle City Council, which manages a Aus$268 million (US$191 million) investment fund for Australia's seventh largest city, voted late Tuesday to progressively move towards "environmentally and socially responsible investments"."Coal undoubtedly makes up a really significant portion of our local economy, but we're also increasingly becoming ...

Oil picks up after rout, but US crude still below $40 NEW YORK: Oil prices recovered some lost ground Tuesday after a sharp fall sparked by worries about China's faltering economy, the world's largest energy consumer.US benchmark West Texas Intermediate (WTI) for October delivery rose $1.07 to $39.31 a barrel on the New York Mercantile Exchange, after finishing below $40 Monday for the first time in six years.In London, Brent North Sea crude for October, the international benchmark, finished at $43.21 a barrel, up a modest ...

Oil rallies but still near 6-1/2-year lows LONDON: Oil bounced back from heavy losses on Tuesday but global oversupply and worries over the severity of the economic slowdown in China, the world's top commodity consumer, kept prices near 6-1/2-year lows. European share markets recovered on Tuesday but Chinese stock markets closed down more than 7 percent, with panic selling intensifying after the Shanghai Composite Index crashed through key support at 3,000 points. China cut interest rates on Tuesday in its latest move ...


 



 
Index Closing Chg%
Arrow DJIA 16,285.51 3.995
Arrow Nasdaq 4,697.54 4.24
Arrow S&P 1,940.51 3.90
Arrow FTSE 5,979.20 1.68
Arrow DAX 9,997.43 1.29
Arrow CAC-40 4,501.05 1.40
Arrow Nikkei 18,376.83 3.20
Arrow H.Seng 21,080.39 1.52
Arrow Sensex 25,714.66 1.22





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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 24, 2015
Reserves $18.678 bln