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Oil prices rise after ECB suggests expanded stimulus NEW YORK: Oil prices rose for a second straight day on Thursday after the European Central Bank indicated more stimulus could be on its way for the eurozone.US benchmark West Texas Intermediate for October delivery was up 50 cents to $46.75 a barrel on the New York Mercantile Exchange.Brent North Sea crude for October, the global benchmark, closed at $50.68 a barrel in London, a gain of 18 cents from Wednesday's settlement.The president of the ECB, Mario Draghi, said the central bank could ramp up its bond purchase program if an additional boost is warranted in the faltering eurozone.In a news conference after an ECB monetary policy meeting, Draghi said the program, known as quantitative easing, was "intended to run until the end of September 2016, or beyond, if necessary."Draghi's remarks gave a lift to oil markets, which echoed climbs in equity markets, despite the news the ECB cut its ...


Oil rangebound as equity rally offsets inventory rise LONDON: Crude prices traded in a narrow range on Thursday as optimism over equity markets helped offset a surprise increase in US oil inventory levels and a firm US dollar. A respite from bearish economic news in China, where markets are closed for public holidays for the rest of the week, also helped hold oil prices rangebound after weeks of huge swings. Brent slipped 15 cents to $50.35 a barrel by 1126 GMT, having gained ...

Oil dips in Asia after mixed US report SINGAPORE: Oil prices fell in Asia Thursday followed a mixed US petroleum report that showed an increase in reserves but a dip in production.US benchmark West Texas Intermediate for October delivery fell 45 cents to $45.80 while Brent crude for October slipped 38 cents to $50.12 in late-morning trade.Prices turned sharply lower Tuesday and have been edging down since after weak manufacturing data from China and the United States clouded the outlook for demand growth ...

Oil stages modest rebound after mixed US petroleum data NEW YORK: Oil prices climbed Wednesday in a modest rebound from a sharp sell-off after a mixed US petroleum report showed an increase in crude inventories and a decline in production.US benchmark West Texas Intermediate for October delivery rose 84 cents to $46.25 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for October closed at $50.50 a barrel, a gain of 94 cents from Tuesday's settlement.The oil market turned sharply ...

Oil prices extend losses in Asian trade SINGAPORE: Oil prices extended losses in Asia Wednesday as dealers digested weak US and Chinese manufacturing data, while expectations of a bearish US stockpiles report also weighed, analysts said. US benchmark West Texas Intermediate (WTI) for October delivery fell $1.14 to $44.27 while Brent crude for October sank 91 cents to $48.65 in late-morning trade. WTI sank $3.79 and Brent lost $4.59 on Tuesday after China and the United States, the world's top two crude ...

Oil dives on poor China factory data NEW YORK: World oil prices tumbled Tuesday as poor manufacturing data in China, the world's largest energy consumer, hammered the outlook for demand and shook market confidence.US benchmark West Texas Intermediate for October delivery lost $3.79, or 7.7 percent, closing at $45.41 a barrel on the New York Mercantile Exchange.The sell-off snapped a strong three-day WTI rally that had pushed the futures contract up more than 27 percent, rebounding from six and a half year ...

Oil prices tumble in Asia on Chinese data SINGAPORE: Oil prices tumbled in Asia Tuesday, surrendering some of their big gains after fresh data showed manufacturing activity in top energy consumer China contracted in August, analysts said.The contraction in the Purchasing Managers' Index (PMI) for China's factory sector added to concerns about the health of the world's second biggest economy.US benchmark West Texas Intermediate (WTI) for October fell $1.50 to $47.70 and Brent crude for October dropped $1.46 to $52.69 a barrel in ...


 



 
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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 27, 2015
Reserves $18.509 bln