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Oil prices steady after weak start LONDON: Oil prices steadied Tuesday after starting the week with losses amid concerns over ample supply and the breakdown in Greece's debt talks.US benchmark West Texas Intermediate for delivery in July rose 31 cents to $59.83 a barrel compared with Monday's close.Brent North Sea crude for August was up three cents at $63.98 a barrel London afternoon deals."Brent crude oil is trading in a tight range... and the medium-term outlook remains bearish due to the glut of oil that remains on the market," said Kathleen Brooks, research director at traders Forex.com.Sentiment has been weighed down by worries that US oil output is not declining and Saudi Arabia could further ratchet up production.Markets are under pressure also owing to Greece's growing problems. Athens and its creditors were locked in a stalemate after loan talks collapsed over the weekend, bringing Greece just two weeks away from a catastrophic default on its debt, ...


Oil prices rise as Texas braces for tropical storm SINGAPORE: Crude prices rose after a cautious start on Tuesday, boosted by warnings that a tropical storm was about to hit the coast of oil producing state Texas. The US National Hurricane Center (NHC) issued a tropical storm warning on Tuesday morning at 0200 GMT for the Texas coast from Baffin Bay to High Island."On the forecast track the centre ... is expected to make landfall in the warning area along the Texas coast Tuesday ...

UAE oil minister says studying fuel subsidies, report ready soon ABU DHABI: The United Arab Emirates' oil ministry is studying the country's system of fuel subsidies and a report will be submitted to the government soon, oil minister Suhail bin Mohammed al-Mazroui said on Monday.Speaking at an industry conference, he said the government had requested the report after there were questions over why domestic fuel prices didn't drop after the recent plunge of global oil prices.Mazroui did not elaborate. Government subsidies keep domestic prices of ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Monday as dealers fretted over a collapse in Greece's debt talks and a possible return of Iranian supplies disrupted by international sanctions, analysts said. US benchmark West Texas Intermediate for July delivery fell 20 cents to $59.76 while Brent crude for July eased 37 cents to $63.50 in mid-morning trade. Markets are "closely tracking the Greek debt crisis and the ongoing negotiations between Iran and the big six powers," ...

Norway's Statoil could cut workforce by 2,000 OSLO: Norwegian energy firm Statoil could lay off another 2,000 employees by the end of 2016, business daily Dagens Naeringsliv (DN) said on Friday.The decision will be finalised in the near future, after discussions with the management and representatives from the unions on Thursday.According to DN, 1,500 employees will be laid off, as well as 500 hired workers.The cuts would be part of Statoil's technical efficiency programme announced in February, which targets a $1.7 billion ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday on a stronger dollar as traders grow concerned about Greece's troubled debt negotiations, while the International Energy Agency's prediction of an end to the recent surge in demand added downward pressure.US benchmark West Texas Intermediate for July delivery fell 22 cents to $60.55 while Brent crude for July eased 16 cents to $64.95 in late-morning trade. Oil prices turned "bearish after the dollar's rally against the euro on ...

Global LNG: Price slide resumes on weak demand MILAN: Asian spot liquefied natural gas (LNG) prices for July fell this week on continued weak demand and ample supply. The price of Asian spot cargoes slid to $7.40 per million British thermal units (mmBtu), compared with around $7.70 per mmBtu last week. There was supply availability from Russia's Sakhalin export plant, which launched a tender to sell four cargoes spread across July, August and September last week. Sakhalin was also expected to shut down ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln