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PetroChina faces US securities complaint SHANGHAI: An unidentified shareholder is taking legal action in the United States against PetroChina, the listed unit of China's largest oil producer, for allegedly violating US securities laws, the company said Wednesday.The individual, who is seeking to represent other shareholders in a class action lawsuit, filed a complaint with the US District Court for the Southern District of New York, PetroChina said in a statement.It said the complaint claims PetroChina, a subsidiary of the China National Petroleum Corp, and four current or former executives violated US securities laws, but gave no details.The executives include former PetroChina chairman Jiang Jiemin, who according to China's official news agency Xinhua has been removed from his position as director of China's supervisory body for state-owned firms and is being investigated for "serious disciplinary violations", a term that typically refers to corruption.PetroChina -- which is listed in Shanghai, Hong Kong and New York -- vowed ...

Oil prices mixed ahead of US inventory report SINGAPORE: Oil prices were mixed in Asian trade Wednesday as dealers anticipated a further increase in US crude stockpiles, indicating weak demand in the world's top crude consumer. New York's main contract, West Texas Intermediate for January delivery, was down 25 cents at $93.43 in afternoon trade while Brent North Sea crude for January gained six cents to $110.94."The focus is currently on the US inventory figures where we are likely to see a further ...

Chevron alleges Ecuador fraud in oil pollution case NEW YORK: Chevron claimed Tuesday that corrupt Ecuadoran plaintiffs mounted an elaborate fraud to win a multi-billion-dollar case against it for polluting the Amazonian rainforest, in arguments before a US court. "It was a scheme so audacious, so bold it would make a Mafia boss blush," argued Randy Mastro, a lawyer for the US oil giant. "But Chevron didn't give in and that's why Chevron is here to get justice."Chevron has asked US Judge Lewis ...

Brent holds near $111 on supply concerns, high US stocks weigh SINGAPORE: Brent futures held near $111 a barrel on Wednesday as ongoing unrest in Libya stoked supply fears just as winter demand for oil rises, while a higher-than-expected build in US crude stocks capped the gains. Oil has stabilized after wide swings on Monday following a historic deal between world powers and Iran over its nuclear programme. While the agreement took away some of the lingering concerns of an escalation in tension in the Middle ...

Oil prices retreat slightly LONDON: World oil prices fell on Tuesday as traders weighed up the impact on supplies of Iran's nuclear deal and unrest in Libya, both members of the OPEC producers cartel.New York's main contract, West Texas Intermediate (WTI) for delivery in January fell 31 cents to $93.78 a barrel.Brent North Sea crude for January slipped 19 cents to stand at $110.81 a barrel in late London deals.Crude futures dropped after a volatile day's trading on Monday, ...

Oil edges higher on Iran export caps, US data NEW YORK: Brent crude oil edged higher on Tuesday, as investors concluded that a deal between Iran and world powers would bring no immediate increase in crude supplies and Libyan oil workers went on strike in Benghazi. "My sense is that the promise of Iranian oil doesn't really offset a lack of oil from Libya," said Phil Flynn, an energy analyst with the Price Futures Group in Chicago. Brent outperformed US ...

UK prompt gas firms, Belgium halt squeezes supply LONDON: British prompt gas prices rose on Tuesday as a halt in flows from Belgium via the Interconnector pipeline tightened an already undersupplied domestic market, despite mild weather forecasts.A market undersupplied by 11 million cubic metres (mcm) of gas propelled the price of gas for immediate delivery up 0.55 pence to 70.10 pence per therm at 1040 GMT.Flows through the UK Interconector gas pipeline dropped to zero at just after 1000 GMT from around 13 ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln