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Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asian trade Monday after China's 2013 economic growth came in at its slowest rate in 14 years, fuelling concerns over demand in the world's second largest economy. New York's main contract, West Texas Intermediate (WTI) for February delivery, was down 76 cents at $93.61 a barrel in mid-morning trade, while Brent North Sea crude for March dropped 21 cents to $106.27.China said Monday gross domestic grew 7.7 percent last year, the same as 2012 and in line with a median forecast in a survey of 14 economists by AFP. It also beat the government's official target of 7.5 percent. Growth for the October-December quarter also came in at 7.7 percent, the National Bureau of Statistics (NBS) said, slowing from 7.8 percent in the previous three months.Kenny Kan, market analyst at CMC Markets, said the Chinese data "painted a dimmer picture for the energy sector".French lender ...

Oil prices rise as economic signs point to growth NEW YORK: Global oil prices scored modest gains on Friday, lifted by trader optimism about demand prospects after encouraging economic signs this week.New York's main contract, West Texas Intermediate (WTI) for delivery in February, closed at $94.37 a barrel, an increase of 41 cents ahead of the long holiday weekend.The US market is closed Monday in observance of the Martin Luther King, Jr holiday.European benchmark Brent North Sea crude, trading on the first day of ...

Polish gas firm PGNiG writes down its Libyan investment WARSAW: Polish gas monopoly PGNiG has taken a $136 million writedown equal to its entire investment in a Libyan gas and oil exploration project hit by delays and military conflict, the company said. In addition to the 420 million zloty writedown, equal to the value of capital of the Polish Oil and Gas Company Libya BV (POGC), a fully-owned subsidiary of PGNiG, the company created a 137 million zlotys ($44.61 million) reserve, PGNiG said. PGNiG ...

German wind park group Prokon says halts payouts FRANKFURT: German wind park operator Prokon said it had to stop interest payments and would not for now redeem the millions of euros worth of so-called profit-sharing certificates sold to mainly retail investors, as too many were demanding their money back. "In the current situation we are unable to make repayments or interest payouts," the group's managing director Carsten Rodbertus said in a statement on the group's website on Friday, addressing its 75,000 ...

Some grades supported by Angolan Plutonio outage  LONDON: Some grades of Angolan crude oil for March export were supported on Friday, with a key grade out for the month, but overall differentials remained under pressure due to slack demand. There will be no cargoes of Plutonio crude oil for March loading due to maintenance at the field according to traders, which should give support to grades like Cabinda and Saxi which have a similar API. However more broadly, traders saw little scope ...

Oil prices down in Asian trade SINGAPORE: World oil prices eased in Asian trade Friday owing to supply concerns as non-OPEC members such as the United States ramp up production.US benchmark West Texas Intermediate for delivery in February dipped one cent to $93.95 by mid-morning after see-sawing in volatile trade.European benchmark Brent crude for March was down 27 cents at $105.48. The February contract expired on Thursday.Dealers fear "supplies may outstrip demand, fuelled by increased in production from non-members of Organization ...

Brent falls below $107 as supply outlook brightens SINGAPORE: Brent crude fell below $107 a barrel on Thursday, as expectations of more supply from the Middle East and North Africa outweighed a large drop in US crude stockpiles. Major world powers and Iran continued to move ahead on an interim deal that eases some sanctions on Tehran in exchange for curbs on its nuclear programme."The Iran situation is a bearish factor for Brent. But still a lot can go wrong and Iran could ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln