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Iraq sets prices for Basrah heavy crude in May ABU DHABI: Iraq has set the May official selling price (OSP) for Basrah heavy crude to the North and South American market at the Argus Sour Crude Index (ASCI) minus $1.40, the State Oil Marketing Organization (SOMO) said on Sunday. The May OSP for Basra Heavy to Europe was set at dated brent minus $8.45 a barrel while the May OSP to Asia was set at minus $6.85/bbl to the Oman/Dubai average, SOMO said. Copyright Reuters, 2015


Oil prices edge higher LONDON: Oil prices nudged higher on Friday, further recovering from a steep dive seen mid-week, although demand is set to remain shackled by a global supply glut, analysts said.US benchmark West Texas Intermediate for delivery in May edged up one cent to $50.80 a barrel.Brent North Sea crude for May gained 27 cents to $56.84 around midday in London.WTI and Brent sank 3.6 percent on Wednesday after the US Department of Energy said commercial inventories ...

Total makes small gas find in Norwegian North Sea OSLO: French energy firm Total made a small gas and condensate discovery in the Norwegian sector of the North Sea, near the Skirne field, the Norwegian Petroleum Directorate said on Friday. Preliminary calculations put the discovery between 2.5 million and 9.4 million barrels of recoverable oil equivalents, the NPD added. Total owns 40 percent of the licence, while Centrica , Det norske and Faroe Petroleum each hold 20 percent.Copyright Reuters, 2015

Brent nudges up to near $57, set for weekly gain SINGAPORE: Brent crude edged up on Friday, supported by strong economic data from Germany that lifted the oil demand outlook and as worries about a quick return of Iranian supplies eased.The rise may prove sufficient to help both Brent and US crude futures post a weekly gain of more than 3 percent despite being dragged down by record levels of Saudi output and US inventories earlier this week."The reaction was severe for one session but ...

Oil prices rebound from slump LONDON: Oil prices rebounded Thursday on bargain-hunting after a surge in US crude stockpiles and record output in Saudi Arabia sparked a sell-off in the previous session, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in May advanced $1.33 from Wednesday's close to $51.75 a barrel.Brent North Sea crude for May rallied $1.66 to stand at $57.20 nearing midday in London.Shailaja Nair, of energy information provider Platts, said Thursday's price rebound was "due to ...

Oil prices rebound in Asia trade SINGAPORE: Oil prices rebounded in Asia Thursday on bargain-hunting after a surge in US crude stockpiles and record output in Saudi Arabia sparked a sell-off in the previous session, analysts said.US benchmark West Texas Intermediate (WTI) advanced 78 cents to $51.20 a barrel and Brent added 73 cents to $56.28 in afternoon trade.Shailaja Nair, associate editorial director at energy information provider Platts, said Thursday's price rebound was "due to bargain-hunting" traders, who pounced on oil ...

Oil drops towards $57 after largest US stock build since 2001 LONDON: Oil prices fell towards $57 a barrel on Wednesday after the largest weekly build in U.S. crude inventories since 2001 and as Saudi Arabia reported record output in March.The U.S. Energy Information Administration (EIA) reported that U.S. stocks of crude oil rose in the week to April 3 by 10.9 million barrels - the largest weekly build since March 2001 - to a record 482.39 million barrels.A Reuters poll of analysts had forecast a ...


 



 
Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
Arrow Nikkei 20,020.04 0.83
Arrow H.Seng 28,060.98 0.84
Arrow Sensex 27,437.94 1.07





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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln