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South Africa's Eskom to cancel Exxaro coal supply contract for Arnot plant JOHANNESBURG: South Africa's power utility Eskom said on Tuesday it was seeking coal bids for its 2,100 megawatt (MW) Arnot plant, after it notified Exxaro that it would not automatically renew a 40-year-supply contract which ends in December.The cash-strapped Eskom is cracking down on its contracts with coal suppliers, saying that previous agreements where the utility paid for the running costs of mines for guaranteed supply of coal at a pre-determined price were no longer sustainable."We have been in discussion with Exxaro since 2013. They have not been able to supply us with the number of tonnes we had agreed to, yet they continued to charge high prices," Eskom spokesman Khulu Phasiwe told Reuters.Exxaro could bid for the new contract but Eskom, which is facing a funding shortfall of 200 billion rand ($13.88 billion), said it could no longer afford to pay 900 rand a tonne for coal, which it ...

Oil prices rise in Asia with OPEC meeting in focus SINGAPORE: Oil prices rose in Asia Tuesday, three days before an OPEC meeting in which the cartel is expected to maintain high output levels despite a global supply glut.Analysts say the Organization of the Petroleum Exporting Countries is likely to focus more on maintaining market share against competitors than on slashing production in order to lift prices.US benchmark West Texas Intermediate for delivery in January was up 29 cents to $41.94 and Brent crude for ...

Oil prices dip ahead of OPEC gathering NEW YORK: Oil prices finished a bit lower Monday ahead of an OPEC meeting expected to maintain policies that have kept prices down.US benchmark West Texas Intermediate for January delivery ended down six cents at $41.71 a barrel on the New York Mercantile Exchange.Brent North Sea crude for January delivery shed 25 cents to $44.61 a barrel.Friday's meeting of the Organization of the Petroleum Exporting Countries, though eagerly anticipated, is generally expected to maintain the ...

Oil retreats after pre-OPEC rally; Brent dips, US crude steady NEW YORK: Brent futures edged lower while U.S. crude gave back much of its earlier gains on Monday as a pre-OPEC-meeting rally and run-up in U.S. refined oil products faltered.A Reuters survey that estimated higher OPEC production in November, after a rise in Saudi Arabian output, also weighed on market sentiment.Another negative factor was the dollar's surge to an 8-month high, which weakened demand for dollar-denominated oil from holders of the euro and other currencies.Brent ...

US oil output in September down for third straight month: EIA NEW YORK: US oil production fell in September for the third month running, according to government data released on Monday, a sign that persistently low prices and less drilling are helping slow an oil production boom.Output in September fell to 9.326 million barrels per day, down 20,000 from 9.346 million bpd in August, according to the Energy Information Administration's Petroleum Supply Monthly report.Production in September fell 49,500 thousand bpd from the 9.375 million bpd in ...

Oil ends down, reversing rally, as OPEC output seen rising NEW YORK: Crude oil fell on Monday, reversing an early rally, after a survey estimated higher OPEC output in November and a stronger dollar weighed on demand for commodities priced in the currency.U.S. government data showing no meaningful decline in shale oil output in September despite a steady drop in rig counts was another negative factor.A tumble in U.S. gasoline and ultralow sulfur diesel futures as their front-month contracts headed for expiry added to the ...

OPEC November oil output rises, led by Iraq, Saudi: Reuters survey VIENNA: OPEC oil output has risen in November from the previous month, a Reuters survey found on Monday, led by a rebound in Iraqi exports after bad weather had temporarily halted supply growth from the group's second-largest producer.The increase indicates the Organization of the Petroleum Exporting Countries is again pumping close to a record high as Saudi Arabia and other big producers focus on market share. OPEC meets this week to review the policy, with ...


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln