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Brent drifts towards $111 on lower Chinese exports, US budget crisis SINGAPORE: Brent futures edged lower towards $111 per barrel on Monday after an unexpected decline in China's exports, with a looming deadline to get an increase in the US debt ceiling adding to worries about the outlook for oil demand.Weekend talks to avert a US debt default showed signs of progress on Sunday, but there were still no guarantees that a government shutdown was about to end or that default would be avoided.Underscoring the urgency of resolving the impasse, both the Senate and House of Representatives are scheduled to be in session on Monday, even though it is the Columbus Day federal holiday."Default is unlikely to happen, in our view. But if there's no deal over the next few days, it will definitely cause some downward pressure on oil as market confidence weakens," said Chee Tat Tan, an investment analyst at Phillip Futures in Singapore."We think a steep decline is ...


Global clean energy investment fell in Q3: research LONDON: Global investment in clean energy fell to $46-$47 billion in the third quarter of this year as project finance for renewables stalled due to policy uncertainty, overcapacity and cheap natural gas, two separate reports showed on Monday.Third-quarter investment in renewable energy and smart energy technologies totalled $45.9 billion - 20 percent below the same period in 2012 and 14 percent below the second quarter of this year, research by Bloomberg New Energy Finance showed.The ...

Saudi Aramco to expand Shaybah, Khurais oil output in 2016-17 DAEGU: The world's largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields - Shaybah and Khurais - by 550,000 barrels per day (bpd) in 2016-2017, to rebalance its crude quality and extend the lifespan of mature fields.The expansions of the fields will start up "within a few months of each other," Chief Executive Khalid al-Falih said on Sunday.Shaybah would come first, by the end of 2016 or early 2017, the ...

China mulls lifting coal export tax in 2014 SHANGHAI: the world's top producer and consumer of coal, is considering scrapping a 10 percent tariff on exports of steam coal from 2014 to rebalance domestic supplies, the 21st Century Business Herald reported.The proposal, if implemented, would increase seaborne coal supplies in the Asia Pacific market and threaten Australia's market share as a key supplier to North Asia, where Japan and South Korea are among the world's top importers of steam coal."The relevant departments are ...

Oil prices lower in Asian trade SINGAPORE: Oil prices dipped in Asian trade Friday despite hopes of a breakthrough in the crippling budget impasse in Washington, as dealers focused on a US supply glut, analysts said. New York's main contract, West Texas Intermediate (WTI) for delivery in November, was down 28 cents at $102.73 in mid-morning trade, while Brent North Sea crude for November eased 27 cents to $111.53.Asian equity markets rallied Friday in response to a Republican proposal to offer ...

Oil rises to $110 on return of Libyan supply worry LONDON: Crude oil rose above $110 a barrel on Thursday after the seizure of Libya's prime minister punctured confidence that its oil exports would swiftly return to normal.Libyan Prime Minister Ali Zeidan was captured and held for several hours by former rebel militiamen angry at the weekend capture by US special forces of a Libyan al Qaeda suspect in Tripoli.Libya's oil output has risen to 700,000 barrels per day, after falling at mid-year to its ...

OPEC sticks to oil demand forecasts VIENNA: The OPEC oil cartel on Thursday stuck to its forecasts for global oil demand, projecting a rise of 1.0 percent this year and of 1.2 percent in 2014.The Organization of Petroleum Exporting Countries said in its October monthly report that demand would average 89.74 million barrels per day (mbpd) in 2013 and 90.78 mbpd in 2014.It kept its economic growth forecasts at 2.9 percent this year and 3.5 percent in 2014, "although ongoing developments ...


 



 
Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln